SBF Claims FTX US Is Fully Solvent & Withdrawals Could Open Today

FTX Founder Sam Bankman-Fried Denied Bail by Bahamas Authority
  • SBF thought that Ledger X and FTX US derivatives would “even be up and operating right now.”
  • He stated that the majority of his donations were for pandemic prevention.

At The New York Times’ annual DealBook Summit, Sam Bankman-Fried was interviewed by Andrew Ross Sorkin on Wednesday. He discussed a variety of topics, including risk management, philanthropy, regulation, and real estate in the Bahamas. SBF acknowledged that he “screwed up” and did commit serious mistakes. He said that he ought to have given greater attention to risk management and client protection.

In response to a query regarding the solvency of FTX US, SBF stated:

The US platform—the US-regulated platform with American users—to my knowledge, that’s fully solvent. That’s fully funded, and I believe that withdrawals could be opened up today and everyone could be made whole from that.

FTX US Derivatives and Ledger X Might Active Right Now

Bankman-Fried chose to refrain from disclosing much information regarding the demise of his companies on the advice of his lawyers, who he claimed were unhappy with his appearing in public. Instead, he reiterated themes he had previously spoken about in Twitter threads.

Ledger X and FTX US derivatives may “even be up and operating right now,” the former FTX CEO further claimed. LedgerX is a division of FTX as a result. It was reportedly ready to send $175 million the day before to support the bankruptcy procedures of its parent firm as per reports. 

In addition, it was recently revealed that SBF’s parents spent the previous two years investing $121 million in 19 Bahamas-based properties. Most of the purchases were luxurious beachfront homes, including seven condominiums in Alban, a vacation area.

Journalism graduate who loves to write and Karate. And I love exploring new concepts and that brought me into the fascinating crypto and blockchain technology…