Sam Bankman-Fried has reiterated claims that FTX remained solvent during its November 2022 collapse, citing new testimony from former FTX data chief Dan Chapsky. Chapsky's sworn declaration stated that despite an $8 billion liquidity gap, FTX's assets exceeded customer deposits, suggesting customers could have been repaid within months. Bankman-Fried, currently serving a 25-year sentence for fraud, is seeking a retrial in Manhattan federal court, arguing that new evidence and alleged prosecutorial pressure warrant a new trial.
Chapsky's analysis, which aligns with findings from the bankruptcy court's independent examiner, emphasizes asset coverage over operational continuity. Bankman-Fried's legal motion, supported by his mother, Barbara Fried, highlights the absence of testimony from former FTX executive Ryan Salame and alleges misconduct by the Department of Justice. The motion also requests Judge Lewis Kaplan's recusal, though appellate judges have questioned the relevance of solvency to the original verdict.
Sam Bankman-Fried Asserts FTX Solvency Amid Legal Battle
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