Sam Bankman-Fried, the founder of FTX who was found guilty of fraud, has spoken out again. In a post on X (formerly Twitter), he stated that he didn’t actually initiate the bankruptcy proceedings and that his legal team pushed for it to liquidate assets.
Sam Bankman-Fried claims FTX wasn’t actually bankrupt when it initially filed for bankruptcy protection. He states he didn’t authorize the filing, but rather that his legal team took control of the company and filed for bankruptcy themselves just hours later, allegedly to misappropriate funds.
He backed that up with a sworn court filing from January 2023.
What the Court Filing Says
This document details discussions between Sam Bankman-Fried (SBF) and his lawyer, Mr. Miller, before the company filed for bankruptcy.
Sam Bankman-Fried stated he informed Gary Miller that FTX.US shouldn’t file for bankruptcy because their technical team had verified it wasn’t impacted by the financial problems at FTX. He hoped to keep FTX.US operating so it could be sold and used to reimburse investors.
According to Sam Bankman-Fried, the law firm Sullivan & Cromwell (S&C) insisted that FTX.US be part of the bankruptcy filing because FTX.US held the funds needed to pay S&C’s initial fee. Without that payment, the firm wouldn’t have filed the paperwork.
Miller informed SBF that S&C was placing their own person in charge of all the companies and highlighted over $200 million in cash held by LedgerX, which would be used to pay for legal expenses.
The Tweet That Started It
Sam Bankman-Fried (SBF) responded directly to Bitcoin trader Alex Wice, who criticized the FTX trial as unfair. Wice claimed Judge Kaplan prevented the defense from presenting important evidence, such as data showing the company was solvent and a legal argument that could have proven SBF didn’t intentionally commit any crimes.
Wice also stated that Ryan Salame, a former FTX executive, was imprisoned because he wouldn’t provide testimony against Sam Bankman-Fried (SBF).
SBF responded: “Agree with almost all of this.”
SBF Alleges Misconduct
Just the day before, SBF claimed that prosecutors intentionally withheld evidence that could have supported his defense. He stated that a former prosecutor, who was fired during the Trump administration, had records of this hidden evidence.
He claimed Salame was threatened with fabricated charges and that prosecutors pressured his pregnant fiancée to get him to plead guilty.
Sam Bankman-Fried, known as SBF, is in prison for 25 years after being convicted of seven counts of federal fraud related to the $8 billion collapse of FTX.
His recent posts frame the entire case as “lawfare”.
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2026-02-10 14:42