Sam Bankman-Fried: FTX Did Not Go Bankrupt, Investors Will Make Money

Sam Bankman-Fried (SBF) claimed that FTX has not truly gone bankrupt and that customers' deposited funds never left the platform. Although the collapse of FTX in 2022 constitutes one of the biggest scandals in the cryptocurrency world, SBF's recent statements raise questions about this situation. According to SBF, FTX was in a position to cover its $8 billion debt at the time it filed for bankruptcy, and customers would receive between 119% and 143% of their deposited funds back.

Additionally, according to SBF, while the total asset value of FTX was calculated to be $14.6 billion in 2022, today these assets have reached a value of $136 billion. It is reported that the company holds $14.3 billion worth of Anthropic shares, $7.6 billion worth of Robinhood shares, 58 million Solana (SOL) — approximately $12.4 billion, 205,000 Bitcoin (BTC) — $2.3 billion, and 890 million Sui (SUI) — $2.9 billion worth of assets.

However, on-chain researcher ZachXBT has triggered a significant discussion within the crypto community by reminding that FTX creditors' payments were made based on 2022 cryptocurrency prices. Highlighting that Bitcoin was trading around $17,000 at that time, ZachXBT pointed out that the current Bitcoin price, which has reached around $100,000, has resulted in significant value losses for users. This situation has caused substantial damage, particularly for FTX victims.

While SBF claims that FTX has never lost its ability to pay, critics argue that this statement does not reflect the reality. ZachXBT stated that investors received payments in dollars based on prices from that period, which, considering the current value increase, means significant losses. It is important to remember that all the necessary information and data for investors to evaluate their current situation are available.

SBF claims that the collapse of FTX was due to early intervention by lawyers, while many analysts emphasize that this process is related to a lack of internal oversight. SBF's statements have not alleviated the criticisms regarding compensating users in dollars instead of cryptocurrencies, highlighting the critical importance for investors to be cautious and to assess the current situation thoroughly.