FTX’s ex-CEO Sam Bankman Fried claims Alameda had more assets than liabilities just a few days before bankruptcy filing

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Sam Bankman-Fried maintains that FTX US had enough money to repay all customers as of Nov. 7.

Cover art/illustration via CryptoSlate

Ex-FTX CEO Sam Bankman Fried said in a recent tweet that Alameda had more assets than liabilities as of Nov. 7, just a few days before it filed for bankruptcy, but noted that the assets were not liquid.

Bankman-Fried maintains that FTX US had enough money to repay all customers as of Nov. 7. He also noted that Alameda held a margin position in FTX International. 

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The recent tweet still raises many questions about how FTX handled users’ funds. One Twitter user mentioned Alameda holding margin positions with user funds.

The ex-CEO started the Twitter thread with the word “what” followed by a series of cryptic one-letter tweets that ultimately spelled out “HAPPENED.” One Twitter user speculated that this could be an attempt by Bankman-Fried to plead insanity if ever brought before a court.

In an interview with The New York Times, Bankman-Fried explained his cryptic tweets as follows:

 “I’m making it up as I go,” and the series of tweets is “going to be more than one word.”

Bankman-Fried stepped down as CEO when his companies filed for bankruptcy but will assist with the transition to John Ray’s leadership.

Bankman-Fried’s crypto trading firm and FTX US, the company’s U.S. subsidiary, are among 130 firms involved in the bankruptcy proceedings.

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Author: Soumen Datta


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