Sam Bankman-Fried: “FTX US is solvent and always has been.”
In his new post, SBF found inconsistencies in documents filed by the law firm Sullivan & Cromwell (S&C) to a Delaware court alleging that FTX US is insolvent. S&C somehow failed to include $428 million of assets in FTX US bank accounts in the report. As a result, SBF concluded that FTX had hundreds of millions of dollars in excess of what the exchange needed to pay its obligations to users. Just return the money, Sam!
On this page
In his new post, SBF found inconsistencies in documents filed by the law firm Sullivan & Cromwell (S&C) to a Delaware court alleging that FTX US is insolvent.
?S&C somehow failed to include $428 million of assets in FTX US bank accounts in the report.
As a result, SBF concluded that FTX had hundreds of millions of dollars in excess of what the exchange needed to pay its obligations to users.
Just return the money, Sam!
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
