FTX Founder’s Controversial Claims: Customer Crypto Never Actually Lost
In a stunning development from prison, FTX founder Sam Bankman-Fried has made explosive claims through monitored social media channels that challenge the prevailing narrative surrounding the collapsed cryptocurrency exchange. The disgraced executive asserts that nearly all legitimate customer claims have been repaid with interest, directly contradicting the widely reported figure of $10 billion in lost customer deposits. According to Bankman-Fried's statements, the disputed claims reserve contains sufficient funds to cover the $6.5 billion currently in question, suggesting a dramatically different financial picture than what has been publicly understood since FTX's catastrophic collapse in 2022. These revelations emerge amid ongoing legal proceedings and restitution efforts, raising new questions about the true state of FTX's finances and the accuracy of previous loss estimates. The timing of these statements, coming from an incarcerated founder whose credibility has been severely damaged by fraud convictions, adds layers of complexity to an already convoluted bankruptcy and recovery process. While regulatory authorities and bankruptcy trustees continue their methodical work untangling FTX's financial web, these new claims introduce fresh uncertainty about how much customers might ultimately recover and whether the public narrative about the exchange's failure requires significant revision. The cryptocurrency community and affected customers now face the challenge of reconciling these new assertions with established facts and court-approved documentation, all while waiting for independent verification of Bankman-Fried's surprising contentions about the status of customer funds.
FTX Founder Sam Bankman-Fried Claims Customer Crypto Was Never Lost
Sam Bankman-Fried, the incarcerated founder of collapsed crypto exchange FTX, has made bold claims through a monitored social media account. He asserts that nearly all legitimate customer claims have been repaid with interest, contradicting the narrative of $10 billion in lost customer deposits. The disputed claims reserve reportedly holds enough to cover the $6.5 billion in question.
The statements emerge amid ongoing tension around FTX's bankruptcy proceedings and Bankman-Fried's 25-year prison sentence. His defense hinges on the argument that sufficient assets existed at the time of bankruptcy to repay customers in full. The case continues to raise questions about exchange accountability in the digital asset space.
FTX Revival Plan Derailed by Bankruptcy Lawyers, Claims Former Creditor Committee Member
Arush Sehgal, former member of FTX’s unsecured creditors’ committee, has accused the exchange’s bankruptcy legal team of sabotaging a potential revival plan that could have returned tens of billions to creditors. Sehgal, now Head of crypto at Alpaca, revealed three well-funded finalists—including a consortium backed by Kraken CEO Arjun Sethi and Tribe Capital—were prepared to acquire and relaunch FTX before the process was abruptly halted.
The bidders included Bullish, led by ex-NYSE president Thomas Farley, and Figure, headed by Mike Cagney—both now publicly traded companies valued at $9 billion and $8 billion respectively. Sehgal’s allegations contradict claims by FTX’s restructuring team that no viable buyers existed for the defunct exchange’s reboot.
FTX Partner Immunity Claims Denied as Prosecution Nears Conclusion
Manhattan federal prosecutors sharply rejected immunity claims by Michelle Bond, former partner of disgraced FTX executive Ryan Salame, during Thursday's evidentiary hearing. Former U.S. Attorney Danielle Sassoon testified no immunity promises were made regarding Bond's alleged campaign finance violations—a case stemming from Salame's guilty plea that landed him a seven-year prison sentence.
The hearing revealed prosecutorial strategy: Sassoon acknowledged investigations into Salame's conduct WOULD likely cease post-guilty plea, but emphasized this didn't extend to accomplices. "This isn't about trickery," Sassoon stated, countering Bond's motion to dismiss charges claiming prosecutorial entrapment.
With Bond representing one of the final FTX-linked cases, resolution here may conclude the sprawling prosecution of Sam Bankman-Fried's collapsed crypto empire. The proceedings underscore regulators' tightening grip on crypto political financing—a trend accelerating since FTX's 2022 collapse.
