A recent document shared via Sam Bankman-Fried’s official X account has reignited discussions surrounding FTX’s financial status prior to its collapse. The post reiterates defense arguments presented during Bankman-Fried’s criminal trial, asserting that the cryptocurrency exchange maintained solvency throughout its operations. According to the published analysis, FTX’s native token FTT would currently hold an estimated market valuation of approximately $22 billion had the platform continued normal operations.
The document elaborates on the exchange’s asset-liability structure, suggesting that customer funds remained secure and accessible until the company filed for Chapter 11 protection in November 2022. These claims directly contradict regulatory findings and court determinations that identified significant shortfalls in FTX’s accounting practices and fund management.
Legal experts note these assertions align with Bankman-Fried’s trial defense strategy, which emphasized technical accounting interpretations of solvency versus liquidity challenges. The timing of this document’s release coincides with ongoing bankruptcy proceedings where FTX creditors continue seeking maximum recovery of assets.
Market analysts remain skeptical of the $22 billion FTT valuation projection, noting the cryptocurrency’s current trading status and the fundamental damage to investor confidence following the exchange’s demise. The document provides no new evidence to support its claims beyond previously disclosed trial materials.
