Sam Bankman-Fried claims FTX US 'fully solvent,' denies stealing customer funds
Disgraced crypto mogul Sam Bankman-Fried claimed FTX US is"fully solvent and always has been" after he was arrested on fraud charges.
After the collapse, revelations surfaced that FTX moved billions of dollars worth of customer money to finance risky investments in Bankman-Fried's trading firm, Alameda Research, which also later filed for bankruptcy. This led to accusations that Bankman-Fried effectively"stole" funds from customers — an allegation he denies.
His lengthy post featured balance sheet information and notably did not touch on the controversy over how the FTX funds wound up in Alameda, though Bankman-Fried noted that he hadn't"run Alameda for the past few years," and conceded that"Alameda failed to sufficiently hedge its market exposure."
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