FTX Was Never Really Bankrupt
AI summary of the linked articleFTX had sufficient assets to make its creditors whole all along, a claim that would likely change public perception of founder Sam Bankman-Fried. The prosecution at his trial stressed customer losses above $8 billion but never substantiated that figure. Bankman-Fried was convicted last November on seven counts of fraud and conspiracy, with prosecutors saying he stole "billions of dollars" from customers "out of sheer greed." |
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1 comment  timSubmitter Since last August, the market value of FTX’s crypto holdings has grown by about $5 billion. This has been largely driven by the five-fold increase in the market value of Solana, FTX’s largest holding, as well as a 50% increase in its remaining top ten tokens. that‘s so nuts |
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