Sam Bankman-Fried is once again asserting his innocence.
The former FTX chief posted a lengthy statement this week claiming that the exchange “was never insolvent” and that bankruptcy lawyers, rather than bad balance sheets, were responsible for the company’s downfall.
The document is filled with tables illustrating hypothetical “mark-to-market” gains on assets FTX previously owned, suggesting the company would be valued over $100 billion today if not for the legal issues.
However, many of the document’s key assertions, such as the claim that FTX “was never insolvent” and could have fully repaid customers, do not align with financial filings.
This post is part of Bankman-Fried’s larger effort to reshape his narrative and garner political sympathy. Reports indicate that his parents and legal team have been quietly seeking a presidential pardon, even arranging a jailhouse interview with a prominent journalist.
Prediction market estimates suggest he has only about a 10% chance of receiving a pardon, indicating that the post might aim to influence these odds as much as it seeks to reshape FTX’s history.
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