• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
CoinLaw LogoCoinLaw

Bringing Crypto & Finance Closer to You

  • Latest News
  • Statistics
  • About
  • Contact
Subscribe
CoinLaw Logo
  • Latest News
  • Statistics
  • About
  • Contact
Subscribe
Home » Cryptocurrency

Sam Bankman-Fried Claims FTX Was Never Bankrupt, Sparks Crypto Outrage

Published on: October 31, 2025
Kathleen Kinder
Written By
Kathleen Kinder
Kathleen Kinder
Senior Editor • 1,892 Articles
Kathleen Kinder brings over 11 years of experience in the research industry, with deep expertise in finance, cryptocurrency, and insurance. ... See full bio
LATEST POSTS:
Zeus Wallet Goes Dark After Attack Shuts Lightning Channels
Blockchain.com Secures Landmark Cayman VASP Licence
Visa Direct Adds Stablecoin Payouts in zerohash Deal
Chatgpftx Bankruptcy Mismanaged Says Foundert Image Oct 31 2025 07 33 08 Pm
As Featured In
Bloomberg LogoForbes LogoFortune LogoCoinDesk LogoCoinMarketCap Logo
Share on LinkedIn ChatGPT Perplexity Share on X Share on Facebook

Sam Bankman-Fried’s latest statement from prison has reignited controversy in the crypto world, claiming that FTX was never actually bankrupt when it collapsed in 2022.

Key Takeaways

  • SBF’s team shared a 14-page document asserting that FTX had $136 billion in holdings and was solvent at the time of its bankruptcy filing.
  • They blame FTX’s legal counsel for forcing bankruptcy proceedings, which they claim derailed a recovery plan and damaged the exchange’s structure.
  • Crypto experts and former FTX users pushed back, accusing SBF of misinformation and ignoring the real losses suffered during the collapse.
  • SBF’s family is reportedly exploring a presidential pardon, further stoking debate over his role and legacy in crypto history.

What Happened?

On October 31, a 14-page document was shared via Sam Bankman-Fried’s long-dormant X account. The post insisted that FTX was never insolvent and could have recovered if external lawyers had not intervened. It claimed FTX held billions in assets and only faced a liquidity crunch due to sudden withdrawals in November 2022. The release has sparked heavy criticism from across the crypto industry, with many accusing SBF of trying to manipulate public opinion from behind bars.

[SBF says:]

This is where the money went. https://t.co/HVRwEw5Z1k https://t.co/5DrA13L5YE pic.twitter.com/O6q77DvmTn

— SBF (@SBF_FTX) October 31, 2025

SBF’s Solvency Claims Challenge Bankruptcy Narrative

The document outlined a dramatically different story from the one presented in court. According to SBF’s team, FTX had $136 billion in petition-date holdings, including:

  • $14.3 billion in Anthropic equity
  • $7.6 billion in Robinhood (HOOD) stock
  • $1.2 billion in Genesis Digital Assets
  • $600 million in SpaceX via K5 Global
  • 58 million SOL tokens ($12.4 billion)
  • 205,000 BTC ($2.3 billion)
  • 890 million SUI tokens ($2.9 billion)
  • 112,600 ETH ($500 million)
  • $1.7 billion in cash and $345.2 million in stablecoins

The document also stated that $8 billion in customer liabilities and $1 billion in legal fees have already been covered, with the estate still retaining another $8 billion. Roughly 98% of creditors have received 120% repayment, and the remaining are expected to get between 119% and 143%.

SBF argued that the situation was manageable until FTX’s external legal counsel seized control, derailing what he described as a near-complete liquidity resolution. He claimed customer deposits of $20 billion from 7 million users were intact and that the situation could have been resolved by the end of that month.

Crypto Industry Responds with Sharp Criticism

The broader crypto community was quick to reject the latest statements. On-chain investigator ZachXBT called it a misleading narrative, noting that FTX customers were reimbursed based on November 2022 crypto prices, which were significantly lower than today. He added that the rise in asset values was merely coincidental, not proof of solvency.

Venture capitalist Adam Cochran also expressed outrage, tweeting, “Shut the [expletive] up, Sam. You stole.” Critics argue that SBF’s team is using inflated current valuations to obscure the fact that FTX could not cover user withdrawals when it mattered most.

Shut the fuck up Sam.

You stole. https://t.co/IMbOpTzTn2

— Adam Cochran (adamscochran.eth) (@adamscochran) October 31, 2025

Legal experts and former creditors emphasized that these claims were already examined and dismissed during the 2023 trial, where a Manhattan jury found SBF guilty and sentenced him to 25 years in prison.

Newsletter Img
Don't chase the news. Let us curate it.

You get one weekly briefing with only the stories that matter. If the market is quiet, we skip it.

✅ Join readers from Visa, Mastercard, Vanguard, and the FDIC.

Political Overtones and Speculation of a Pardon

SBF’s reemergence online has fueled speculation about his intentions. In previous posts on platforms like GETTR, he claimed his arrest was politically motivated, tied to donations made to Republican politicians and planned testimony about upcoming crypto regulations.

His family, particularly Stanford professors Joseph Bankman and Barbara Fried, is reportedly exploring the possibility of a presidential pardon. This follows former President Donald Trump’s recent pardon of Binance founder CZ, who had also faced legal scrutiny and had once played a part in triggering FTX’s collapse.

CoinLaw’s Takeaway

I’ve been following the FTX saga since its early days, and what I find baffling is how SBF continues to play the victim. The argument that FTX was never insolvent ignores the panic, the withdrawals, and the complete loss of trust that caused the collapse. Sure, assets might be worth more today, but that doesn’t change the fact that users were locked out of their funds when they needed them most. From my perspective, this latest move feels less like truth-telling and more like an attempt to rewrite a very public failure.

CoinLaw follows strict Publishing Principles and a documented Fact-Check Policy to ensure accuracy, transparency, and editorial independence across all content.

Add CoinLaw as a Preferred Source on Google for instant updates! Follow on Google News
Share ChatGPT Perplexity
Kathleen Kinder

Kathleen Kinder

Senior Editor


Kathleen Kinder brings over 11 years of experience in the research industry, with deep expertise in finance, cryptocurrency, and insurance. At CoinLaw, she writes timely, reader-focused news articles and also serves as a senior editorial reviewer. Drawing on her background in B2B research, consumer insights, and executive interviews, she ensures every piece delivers clarity, accuracy, and real-world relevance.

Related Posts

Binance Ceo Wants Ftx Lawsuit Dismissal
Cryptocurrency

Changpeng Zhao Fights FTX Clawback Suit in Delaware Bankruptcy Court

What Is Proof Of Reserves And Why Exchanges Need It
Cryptocurrency

What Is Proof of Reserves and Why Exchanges Need It?

Crypto Lender Blockfills Files For Chapter 11 Bankruptcy
Lending

Crypto Lender BlockFills Files for Chapter 11 Bankruptcy

Disclaimer: The content published on CoinLaw is intended solely for informational and educational purposes. It does not constitute financial, legal, or investment advice, nor does it reflect the views or recommendations of CoinLaw regarding the buying, selling, or holding of any assets. All investments carry risk, and you should conduct your own research or consult with a qualified advisor before making any financial decisions. You use the information on this website entirely at your own risk.

Reader Interactions

Leave a Comment Cancel reply

Primary Sidebar

Connect With Us

facebook x linkedin google-news telegram pinterest whatsapp email
google-preferred-source-badge Add as a preferred source on Google

You Should Also Read

Sam Bankman Fried’s Final Appeal Fails in $8 Billion FTX Fraud
Convicted Crypto Mogul Sam Bankman Fried Seeks Trump Pardon
US Senate Opposes Clemency for Sam Bankman-Fried

Table of Contents

  • Key Takeaways
  • What Happened?
  • SBF’s Solvency Claims Challenge Bankruptcy Narrative
  • Crypto Industry Responds with Sharp Criticism
  • Political Overtones and Speculation of a Pardon
  • CoinLaw’s Takeaway
Connect on Telegram

Footer

CoinLaw Logo

Bringing Finance Closer to You.

Connect With Us

Follow Us on Google News

Editorial & Trust

  • About
  • Publishing Principles
  • Fact-Check Policy
  • Corrections Policy
  • Ethics Policy
  • Disclaimer
  • Cookie Policy

Worth Checking

  • Best Cloud Mining Platforms
  • Millennial vs. Gen Z Banking
  • Ethereum Gas Fees Statistics
  • Binance vs. Coinbase Statistics
  • Zelle vs. Venmo Statistics
  • Traditional Banks vs. Neobanks
  • Crypto Exchange Hack Statistics
  • Crypto Regulation Tracker
  • ETF Flow Tracker
  • Exchange Listings Tracker
  • Crypto Treasuries Tracker
Contact Us
13570 Grove Dr #189,
Maple Grove, MN 55311,
United States
10 a.m. – 6 p.m. | Every day

Copyright © 2024–2026 CoinLaw. All Rights Reserved. Powered by the HODL Force ❤️

  • Privacy Policy
  • Terms
  • Accessibility Statement
Manage your privacy

To provide the best experiences, we and our partners use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us and our partners to process personal data such as browsing behavior or unique IDs on this site and show (non-) personalized ads. Not consenting or withdrawing consent, may adversely affect certain features and functions.

Click below to consent to the above or make granular choices. Your choices will be applied to this site only. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Statistics

Marketing

Features
Always active

Always active
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
Manage options
  • {title}
  • {title}
  • {title}
Manage your privacy
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Statistics

Marketing

Features
Always active

Always active
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
Manage options
  • {title}
  • {title}
  • {title}
Company
  • About Us
  • Our Team
  • Our Mission
  • Core Values
Discover
  • glossary icon
    Glossary
  • Stats
    Stats Research Process
  • Brand Guide Icon
    Brand Assets
Categories
  • Cryptocurrency
  • Payments
  • Banking
  • Finance
  • Insurance
Cryptocurrency
Crypto Ownership By Generation Statistics
Crypto Ownership by Generation Statistics 2026: Gen Z vs Millennials
How Many Cryptocurrencies Are There Statistics
How Many Cryptocurrencies Are There Statistics 2026: Crypto Boom
How Many Bitcoins Are There
How Many Bitcoins Are There 2026: Growth and Circulating Supply
Bitcoin All-Time High Statistics
Bitcoin All-Time High Statistics 2026: Every Cycle Peak Across Four Halvings
Crypto Market Capitalization Statistics
Crypto Market Capitalization Statistics 2026: Totals, Dominance, and Trends
How Many People Use Cryptocurrency Worldwide
How Many People Use Cryptocurrency Worldwide 2026: Global User Count by Year and Region
Payments
Remittances By Country Statistics
Remittances by Country Statistics 2026: Inflows and Cost
Cash App vs Zelle Statistics
Cash App vs Zelle Statistics 2026: Speed, Limits and User Data
Venmo vs. PayPal Statistics
Venmo vs PayPal Statistics 2026: Users, Fees and Volume
Toast Statistics
Toast Statistics 2026: ARR, GPV & Revenue Data
Rapyd Statistics
Rapyd Statistics 2026: TPV, Valuation & Licences
Marqeta Statistics
Marqeta Statistics 2026: TPV, Revenue and Customer Mix
Banking
Global Systemically Important Banks Statistics
Global Systemically Important Banks Statistics 2026: Bucket Allocation and Capital Surcharges
Bank Failures Statistics
Bank Failures Statistics 2026: FDIC Data, DIF Costs, and Recent Trends
The 15 Largest Banks in the US
The 15 Largest Banks in the US in 2026: By Assets, Deposits, and Branches
N26 Statistics
N26 Statistics 2026: Customers, Deposits, Revenue and the BaFin Growth Cap
Revolut vs Monzo Statistics
Revolut vs Monzo Statistics 2026: Customers & Profit
Islamic Banking Statistics
Islamic Banking Statistics 2026: Assets, Growth, and Top Markets
Finance
Federal Tax Revenue By State Statistics
Federal Tax Revenue by State Statistics 2026: IRS Gross Collections, Top 10 States, Donor vs Recipient
Tariff Revenue Statistics
Tariff Revenue Statistics 2026: Customs Duties and IEEPA Refunds
Emergency Fund Statistics
Emergency Fund Statistics 2026: How Much Americans Have Saved (and How Much They Should)
Financial Advisor Statistics
Financial Advisor Statistics 2026: Headcount, AUM, and Demographics
Wealth Inequality Statistics
Wealth Inequality Statistics 2026: Hidden Wealth Divide
Blockchain In Supply Chain Finance Statistics
Blockchain in Supply Chain Finance Statistics 2026: Trade Breakthrough
Insurance
Lemonade Insurance Statistics
Lemonade Insurance Statistics 2026: Customers, In-Force Premium, Loss Ratio, Pet & Auto Segments
Chubb Statistics
Chubb Statistics 2026: Powerful Data Insights
Virtual Reality In Insurance Statistics
Virtual Reality In Insurance Statistics 2026: Innovations, Risks, and Opportunities
US Life Insurance Industry Statistics
US Life Insurance Industry Statistics 2026: Growth Facts
US Auto Insurance Industry Statistics
US Auto Insurance Industry Statistics 2026: What You Must Know Now
UK Insurance Industry Statistics
UK Insurance Industry Statistics 2026: Growth Data
Categories
  • Cryptocurrency
  • Investments
  • Fintech
  • Compliance
  • Finance
Cryptocurrency
Tether Launches Saudi Real Estate Tokenization Push
Tether Powers Saudi Real Estate Tokenization Push
Zeus Wallet Goes Dark After Cyberattack
Zeus Wallet Goes Dark After Attack Shuts Lightning Channels
Blockchain Com Secures Cayman Vasp Licence
Blockchain.com Secures Landmark Cayman VASP Licence
Coinbase Uk Launches 24 5 Trading
Coinbase UK Launches 24/5 Trading in 4,000 US Stocks
Mastercard S New Stablecoin Pilot With Borderless Xyz
Mastercard’s New Stablecoin Pilot Targets Compliance Friction
Binance Affiliates Sue Redotpay
Binance Targets RedotPay in Massive $473M Legal Battle
Investments
Coinhako Sbi Holdings Acquisition
SBI Holdings Acquires Coinhako Crypto Exchange
Keyrock Acquires Blockfills Trading And Brokerage Assets
Keyrock Completes the Acquisition of BlockFills’ Trading Assets
Crypto Com Raises 400 Million From Citadel Securities
Crypto.com Raises $400 Million From Citadel Securities
Moonpay Acquires Glide Crypto Deposit Startup
MoonPay Acquires Glide in All-Equity Crypto Deposits Deal
Hyperliquid Perpetual Prices Cxmt Above Its Shanghai Ipo
Hyperliquid Perpetual Prices CXMT Above Its Shanghai IPO
Former Tether Cio Seeks To Sell 1 26 Stake
Former Tether CIO Seeks to Sell 1.26% Stake via PJT Partners
Fintech
OKX App Returns to South Korea's Google Play Store
OKX Wins Back Korea’s Play Store After 4-Day Block
Uphold Cuts 17 Of Global Workforce
Uphold Cuts 17% of Global Workforce Amid Crypto Winter
Samsung Wallet To Add Native Stablecoin Support
Samsung Wallet to Add Native Stablecoin Support
Coinbase Launches Usdc Payments For Ai Agents
Coinbase Launches USDC Payments Support for AI Agents
Keeta Layerzero Partner To Tokenize Bank Deposits
Keeta, LayerZero Partner to Tokenize Bank Deposits On-Chain
Gtn And Payward Expand Xstocks Beyond U S Equities
Payward and GTN to Expand xStocks in International markets
Compliance
Taiwan Targets Crypto Transfers Travel Rules
Taiwan’s Crypto Crackdown Raises Compliance Stakes
Bybit Lead Global Compliance Robert Loo
Bybit Poaches VARA’s Ex-Counsel to Lead Global Compliance
Robinhood Wins Uk Fca License
Robinhood Lands Key FCA Registration Before UK Crypto Rules
Circle Clears Nydfs Trust Charter
Circle Clears NYDFS Trust Charter After Decade Under BitLicense
Russia S State Duma Passes Crypto Law
Russia’s State Duma Passes First Comprehensive Crypto Law
Maharashtra Directs Draft Of India S First Land Tokenization Law
Maharashtra Directs Draft of India’s First Land Tokenization Law
Finance
Polymarket Seeks 20b Usd Valuation
Polymarket Targets $20B Valuation in Bold $1B Funding Push
Lsg To Operate 24 7 For Etps
London Stock Exchange Plans Overnight Trading by 2027
Avax One Regains Nasdaq Listing Compliance
AVAX One Regains Nasdaq Listing Compliance
Kraken Lets Traders Post Tokenized Stocks As Collateral
Kraken Lets Traders Post Tokenized Stocks as Collateral
Kalshi Targets Ipo After Massive Valuation
Kalshi Targets IPO After Massive Growth and $22B Valuation
Coinbase To Launch Tokenized Us Stocks
Coinbase Sparks New Race With 1:1 Backed Tokenized Stocks
Newsletter Img

Too much noise in crypto?

We respect your time. You get one high-impact briefing a week. If the market is quiet, so are we.

✅ Join readers from Visa, Mastercard, Vanguard, and the FDIC.
Newsletter Img

The Weekly Briefing

We track the market 24/7. You get a 5-minute summary. If it’s quiet, we skip it.

✅ Read by pros at Visa, Mastercard, Vanguard, and the FDIC.