Sam Bankman-Fried is again proclaiming his innocence.
The former head of FTX shared an extensive document on X this week asserting that the exchange “was never insolvent” and attributing the company’s downfall to bankruptcy attorneys rather than financial troubles.
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The document contains numerous tables illustrating hypothetical “mark-to-market” profits from assets FTX once possessed, including Solana and Anthropic, suggesting the firm could be valued over $100 billion today but for the lawyers.
However, several key claims in the document, such as the notion that FTX “was never insolvent” and had the capacity to repay all customers, are not consistent with financial disclosures.
This post marks the latest effort in Bankman-Fried’s broader initiative to reshape his narrative and garner public sympathy. As The New York Times reported, his parents and legal supporters have been discreetly advocating for a presidential pardon, engaging Trump-affiliated lawyer Kory Langhofer, and even arranging an interview with Tucker Carlson while he’s incarcerated.
Prediction market participants on Kalshi estimate his chances of receiving a Trump pardon at only about 10%, indicating that this post might aim to alter those probabilities by rehabilitating his image as much as rewriting the history of FTX.
