Sam Bankman-Fried Defends FTX’s Collapse, Blaming Lawyers for $100B Loss

After the dramatic collapse of FTX, Sam Bankman-Fried is back in the spotlight, attempting to rewrite the narrative surrounding his exchange’s downfall. In a recent statement shared on X, he asserts that FTX was never insolvent and places full blame for the exchange’s collapse on its lawyers and bankruptcy administrators. According to him, FTX could have paid back customers before its bankruptcy proceedings, attributing the loss of over $100 billion in value solely to legal maneuvering rather than mismanagement or fraud.