Sam Bankman-Fried says FTX US is “fully solvent” and “withdrawals could be opened up today.” Watch
FTX founder Sam Bankman-Fried (SBF) is back in the news. During an interview with the New York Times at the DealBook Summit, Bankman-Fried said that FTX US is “fully solvent” and can be 100% recovered. SBF said, “withdrawals could be opened up today.”
When asked during the interview about why he gave money to Alameda? SBF responded:
“I am deeply sorry of what happened. To my knowledge, US FTX is solvent. Could open withdrawals today.”
— JAWAD VIRK!! (@jawadvirk19) November 30, 2022
Here’s another tweet.
Question: Was there co-mingling of funds?
Sam's answer: I didn't knowingly co-mingle funds. I was surprised.
— unusual_whales (@unusual_whales) November 30, 2022
As we reported last week, the disgraced FTX founder was scheduled to speak at an exclusive conference called DealBook Conference today hosted by the New York Times alongside Ukrainian President Volodymyr Zelensky and US Treasury Secretary Janet Yellen.
On November 11, the embattled crypto exchange FTX filed for Chapter 11 bankruptcy protection. Immediately after the news, the disgraced FTX founder Sam Bankman-Fried (also known as SBF) resigned as the CEO of the crypto exchange FTX Group and John J. Ray III was appointed the new CEO.
With each passing day, it’s becoming apparent that the FTX disaster is deeper than most people think. According to the court filings (see PDF below), FTX is a complex web of 134 corporate entities around the world, collectively referred to now as FTX Group. All of these 134 companies are now been put into bankruptcy.
During the bankruptcy hearing at the U.S. Bankruptcy Court for the District of Delaware, the newly appointed FTX CEO John Ray III, who also oversaw Enron’s bankruptcy, said that “in his 40 years of legal and restructuring experience,” he had never seen “such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
In the filing, Ray also disclosed that he did “not have confidence” in the accuracy of the balance sheets for FTX and its sister company Alameda Research, writing that they were “unaudited and produced while the Debtors [FTX] were controlled by Mr. Bankman-Fried.”
As we reported earlier, the Bahamas Securities Commission (BSC) froze the assets of FTX Digital Markets “and related parties.” The BSC has also appointed a provisional liquidator as the agency seeks to place FTX into receivership, i.e. bankruptcy, the agency said in a statement issued late on Thursday.
Bankman-Fried first came into the spotlight in 2020 after he donated a whopping $5.2 million to Joe Biden’s campaign, making him the second-biggest donor.
Bankman-Fried founded FTX in 2019 with his co-founder Gary Wang. The Bahamas-based crypto exchange FTX offers derivatives products like futures and options as well as spot trading. Once an unknown startup, FTX has become a key player in the crypto space, rivaling the likes of Coinbase and Binance.
Below is a list of the 134 companies affected by the FTX Group bankruptcy.
1. Alameda Aus Pty Ltd
2. Alameda Global Services Ltd.
3. Alameda Research (Bahamas) Ltd
4. Alameda Research Holdings Inc.
5. Alameda Research KK
6. Alameda Research LLC
7. Alameda Research Ltd
8. Alameda Research Pte Ltd
9. Alameda Research Yankari Ltd
10. Alameda TR Ltd
11. Alameda TR Systems S. de R. L.
12. Allston Way Ltd
13. Altalix Ltd
14. Analisya Pte Ltd
15. Atlantis Technology Ltd.
21. Bancroft Way Ltd
28. Bitvo, Inc.
29. Blockfolio Holdings, Inc.
30. Blockfolio, Inc.
31. Blue Ridge Ltd
37. BTLS Limited Tanzania
38. Cardinal Ventures Ltd
39. Cedar Bay Ltd
40. Cedar Grove Technology Services, Ltd
41. Clifton Bay Investments LLC
42. Clifton Bay Investments Ltd
43. CM-Equity AG
44. Corner Stone Staffing
45. Cottonwood Grove Ltd
46. Cottonwood Technologies Ltd.
47. Crypto Bahamas LLC
48. DAAG Trading, DMCC
49. Deck Technologies Holdings LLC
50. Deck Technologies Inc.
51. Deep Creek Ltd
52. Digital Custody Inc.
53. Euclid Way Ltd
60. FTX (Gibraltar) Ltd
61. FTX Canada Inc
62. FTX Certificates GmbH
63. FTX Crypto Services Ltd.
64. FTX Digital Assets LLC
65. FTX Digital Holdings (Singapore) Pte Ltd
66. FTX EMEA Ltd.
67. FTX Equity Record Holdings Ltd
68. FTX Europe AG
69. FTX Exchange FZE
70. FTX Hong Kong Ltd
71. FTX Japan Holdings K.K.
72. FTX Japan K.K.
73. FTX Japan Services KK
74. FTX Lend Inc.
75. FTX Marketplace, Inc.
76. FTX Products (Singapore) Pte Ltd
77. FTX Property Holdings Ltd
78. FTX Services Solutions Ltd.
79. FTX Structured Products AG
80. FTX Switzerland GmbH
81. FTX Trading GmbH
82. FTX Trading Ltd
83. FTX TURKEY TEKNOLOJİ VE TİCARET ANONİM ŞİRKET
84. FTX US Derivatives LLC
85. FTX US Services, Inc.
86. FTX US Trading, Inc
87. FTX Vault Trust Company
88. FTX Ventures Ltd
89. FTX Ventures Partnership
90. FTX Zuma Ltd
91. GG Trading Terminal Ltd
92. Global Compass Dynamics Ltd.
93. Good Luck Games, LLC
94. Goodman Investments Ltd.
95. Hannam Group Inc
96. Hawaii Digital Assets Inc.
97. Hilltop Technology Services LLC
98. Hive Empire Trading Pty Ltd
99. Innovatia Ltd
100. Island Bay Ventures Inc
101. K-DNA Financial Services Ltd
102. Killarney Lake Investments Ltd
103. Ledger Holdings Inc.
104. LedgerPrime Bitcoin Yield Enhancement Fund, LLC
105. LedgerPrime Bitcoin Yield Enhancement Master Fund LP
106. LedgerPrime Digital Asset Opportunities Fund, LLC
107. LedgerPrime Digital Asset Opportunities Master Fund LP
108. Ledger Prime LLC
109. LedgerPrime Ventures, LP
110. Liquid Financial USA Inc.
111. LiquidEX LLC
112. Liquid Securities Singapore Pte Ltd
113. LT Baskets Ltd.
114. Maclaurin Investments Ltd.
115. Mangrove Cay Ltd
116. North Dimension Inc
117. North Dimension Ltd
118. North Wireless Dimension Inc
119. Paper Bird Inc
120. Pioneer Street Inc.
121. Quoine India Pte Ltd
122. Quoine Pte Ltd
123. Quoine Vietnam Co. Ltd
124. SNG INVESTMENTS YATIRIM VE DANIŞMANLIK ANONİM ŞİRKETİ
125. Strategy Ark Collective Ltd.
126. Technology Services Bahamas Limited
127. Tigetwit Ltd
129. Verdant Canyon Capital LLC
130. West Innovative Barista Ltd.
131. West Realm Shires Financial Services Inc.
132. West Realm Shires Services Inc.
133. Western Concord Enterprises Ltd.
134. Zubr Exchange Ltd