Sam Bankman-Fried’s New Document: The “FTX Was Never Insolvent” Saga Continues!

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So, guess what? Sam Bankman-Fried’s (SBF) old, dusty X account-yeah, the one we all forgot about-came back to life on Thursday night, like a zombie from a bad movie. And what does he drop? A 14-page document (seriously, 14 pages?!) claiming that FTX was “never insolvent.” Wow, just wow. After his 25-year prison sentence, the man is still out here posting links like he’s got a whole marketing team behind bars. Couldn’t make this stuff up if we tried. 🙄

The document, apparently written by SBF (and his “team,” who knows), says that FTX’s epic collapse wasn’t because of a $10 billion fraud-oh no, it was just a “liquidity crisis.” And guess what? He’s convinced it could’ve been “resolved by the end of the month”-if only pesky “external counsel” hadn’t messed things up. You know, the usual scapegoating. Classic SBF.

Prison Walls? Pff, They Can’t Stop The Spin

In this wild ride of a document, SBF insists FTX was swimming in assets-$25 billion, to be exact, with $16 billion in equity value. But of course, it had $13 billion in liabilities. Still, he argues if the lawyers hadn’t gotten involved, FTX would be worth a staggering $136 billion today. Yeah, and I’m the King of England. Maybe that’s a slight exaggeration, but hey, it’s a good story, right? 🙃

The post sent crypto fans into a frenzy. Some folks were like, “This sounds like a confession!” but others saw it for what it is: just a rerun of SBF’s past interviews. Remember his chat with Tucker Carlson back in March? Where he claimed there was “enough money” to pay everyone back? The whole thing fits perfectly into his ongoing narrative that he’s some kind of political martyr, not the architect of one of crypto’s biggest frauds. Never change, Sam. 😒

Just a few weeks ago, SBF (or someone tweeting for him-who knows?) said his arrest was politically motivated. According to him, it was all about his pivot to centrist politics and donating to Republicans. Oh, and don’t forget how he blamed the Biden administration and SEC Chair Gary Gensler for timing his arrest to shut him up before a key crypto bill vote. You can’t make this stuff up. 🤦‍♂️

Legal experts? They’re not buying it. In fact, former FTX creditors were quick to point out that this latest “revisionist history” contradicts the court’s findings and forensic audits. Apparently, billions of dollars in customer funds just vanished into thin air-no big deal, right? 🙄

The crypto community wasn’t exactly sipping tea and agreeing with SBF’s story. Venture capitalist Adam Cochran summed up the mood perfectly when he tweeted, “Shut the f* up, Sam. You stole.” Yeah, pretty much. Mic drop. 🔥

On-chain investigator ZachXBT wasn’t having it either. He called SBF’s claims “misinformation” and pointed out that FTX creditors got paid based on the crypto prices at the time of bankruptcy, not today’s soaring values. So, yeah, people still lost money. Big surprise. 🙄

“SBF is just trying to weaponize the fact that every FTX asset/investment has gone up from the bottom in Nov 2022 when they factually could not pay out users at the time of bankruptcy. And now he’s trying to blame the bankruptcy team for it? Please.”

Trump Pardons CZ, While SBF Hopes for a Miracle

Despite his 25-year sentence, SBF and his family are apparently trying to work some sort of magic to get him out of prison. His parents-who are Stanford professors, by the way-are looking into the possibility of a presidential pardon from none other than Donald Trump. Because why not? It’s 2025, and everything’s upside down. 😅

Oh, and here’s the twist: Trump actually pardoned Binance founder Changpeng “CZ” Zhao, who played a crucial role in the FTX saga. Remember last November when CZ announced Binance was dumping its $529 million worth of FTT? Yeah, that was the spark that set off the fire, leading to FTX’s epic collapse. Coincidence? Maybe not.

Binance even considered buying FTX to stop the bleeding, but then bailed after some “due diligence” (a.k.a., seeing how much of a dumpster fire FTX really was). So yeah, SBF’s empire fell apart, and it’s looking like a pretty good metaphor for… well, everything that’s gone wrong in crypto. 🙃

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2025-10-31 11:57