Sam Bankman-Fried's Latest Defense: "FTX Was Never Bankrupt"

In a bold escalation of his ongoing legal battle, Sam Bankman-Fried (SBF)—the convicted founder of the collapsed FTX cryptocurrency exchange—has publicly asserted that FTX "was never bankrupt," even at the height of its 2022 crisis.

This claim, detailed in a September 30, 2025, document shared via his X account (managed by a representative), challenges the narrative of insolvency that led to FTX's Chapter 11 filing and SBF's 25-year fraud sentence.

Coming amid FTX's bankruptcy proceedings, where the estate now boasts $136 billion in assets and has repaid 98% of creditors up to 143% of their claims, SBF's statement reignites debates over mismanagement, political motivations, and the true value of FTX's holdings at collapse.

SBF, currently serving his sentence at FCI Terminal Island in California, frames the saga not as fraud but as a liquidity crunch exacerbated by panic withdrawals, poor bankruptcy decisions, and alleged bias from regulators and his former legal team at Sullivan & Cromwell.

His appeal, set for oral arguments on November 4, 2025, in the U.S. Second Circuit, hinges on similar arguments: judicial errors in excluding evidence of FTX's solvency and claims of political targeting by the Biden-era DOJ and SEC.#SamBankman-Fried #KITEBinanceLaunchpool #WriteToEarnUpgrade $BTC