Sam-Bankman Fried once again claims he is innocent.
The former head of FTX released a lengthy document this week on X claiming that the exchange “was never insolvent” and that bankruptcy lawyers, not poor balance sheets, were to blame for the company’s collapse.
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The document is full of tables showing hypothetical “mark-to-market” gains on assets FTX once owned, from Solana to Anthropic, implying the company would be worth more than $100 billion today without the lawyers.
Yet many of the document’s central assertions, such as the assertion that FTX “was never insolvent” and could have repaid its customers in full, do not match the financial documents.
The message is the latest volley in Bankman-Fried’s broader campaign to restate her belief and win political sympathy. As the New York Times reported, his parents and legal allies quietly lobbied for a presidential pardon, bringing in Trump-linked lawyer Kory Langhofer and even arranging a prison interview with Tucker Carlson.
Prediction market traders on Kalshi only give him about a 10% chance of receiving a pardon from Trump, suggesting the message may be as much about changing those odds by rehabilitating his image as it is about rewriting FTX history.
