Former FTX CEO Sam Bankman-Fried shared a report titled "FTX: Where Did The Money Go?" which claims that FTX was never insolvent and always had sufficient customer assets to cover liabilities. The document states that approximately 98% of creditors have received 120% compensation. After settling around $8 billion in claims and $1 billion in legal fees, $8 billion reportedly remains in the bankruptcy estate. The report criticizes the bankruptcy management team for causing value loss and delaying payments for three years, asserting that FTX faced a liquidity crisis rather than true bankruptcy.
Report Claims FTX Was Solvent, Criticizes Bankruptcy Management
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