FTX: The return of the SBF – Assets exceed claims


Investing.com – Former FTX CEO Sam Bankman-Fried is not done with his crumbling empire. Although he filed for Chapter 11 bankruptcy protection, he continues to seek capital to save himself.

Two weeks ago, liquidity was still playing no role, as assets worth $10 billion were moved through FTX every day. As he says, it is mainly for him to help users of the cryptocurrency exchange who currently do not have the possibility to withdraw their funds:

“I’m doing everything I can to make that happen. I personally meet with regulators and work with teams to do what we can for customers.”

From his perspective, there are sufficient assets to meet all payment obligations. He brings up the fact that liquid M2M assets might not be worth quite $9 billion, but a month ago they were probably worth $18 billion + net $10 billion.

It is not certain that he will be able to restore some of the lost confidence with these declarations. Not least for the reason that he tweeted shortly before the suspension of payments that there was no need to worry, while in the meantime he deleted all tweets in connection with this declaration.

By Marco Oehrl

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