Sam-Bankman Fried once again maintains his innocence.
The former FTX chief posted a lengthy document on X this week arguing that the exchange was “never insolvent” and that bankruptcy lawyers, not bad balance sheets, were to blame for the company’s collapse.
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The document is peppered with tables showing hypothetical “mark-to-market” gains on assets FTX once held, from Solana to Anthropic, suggesting the company would be worth more than $100 billion today if not for the lawyers.
Yet many of the document’s central claims, such as the claim that FTX was “never insolvent” and could have repaid customers in full, do not match financial filings.
The post is the latest salvo in Bankman-Fried’s broader campaign to reframe her beliefs and win political sympathy. As The New York Times reported, his parents and legal allies have been quietly lobbying for a presidential pardon, enlisting Trump-connected lawyer Kory Langhofer and even arranging a prison interview with Tucker Carlson.
Prediction market traders on Kalshi give him only about a 10% chance of receiving a Trump pardon, suggesting the post may be aimed as much at shifting those odds through rehabilitating his image as at rewriting FTX’s history.
