Sam Bankman-Fried is pushing back on what he calls widespread misconceptions about FTX’s collapse, arguing the exchange faced a liquidity crisis rather than insolvency or fraud.

‘FTX Was Not Insolvent’

Sam Bankman-Fried contended on X on Friday that FTX was solvent at the time of its bankruptcy filing and that customer funds did not permanently disappear.

He claimed the company is now repaying customers between 119% and 143% of their claims.

According to Bankman-Fried, FTX could have repaid customers in kind but was pushed into bankruptcy too quickly.

He alleges that legal fees totalling roughly $1 billion have drained the estate as lawyers dismantled the company and managed the repayment…

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