Post #11154

SBF claims FTX was never insolvent and over $138B in assets was mismanaged by lawyers Sam Bankman-Fried suggests that FTX wasn’t actually insolvent in 2022 — the exchange had enough assets to fully repay its users. However, after external lawyers escalated a temporary liquidity crisis into a full bankruptcy filing, more than $138B in value was lost through mismanagement, equity destruction, and asset mispricing during the bankruptcy process. Meanwhile, total recoveries for FTX creditor claims are expected to be in the $14.46B to $16.25B range, which corresponds to about 123%-138% of the allowed claims as of the petition date. 🔗SBF Analysis Follow us to be on top of crypto: TG | Chat | X