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Sam Bankman-Fried Can't Stay Off of Twitter
The ex-CEO of bankrupt crypto exchange FTX claims liquidity, not insolvency, is the issue.
Updated May 9, 2023, 4:02 a.m. Published Nov 15, 2022, 5:48 p.m.
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Following a series of curious one-letter tweets over the past couple of days, ex-FTX CEO Sam Bankman-Fried has returned to typing out full sentences.
"To the best of my knowledge as of post-11/7," tweeted Bankman-Fried early Tuesday afternoon, "Alameda had more assets than liabilities marked-to-market (but not liquid)."
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He also said that Alameda had a margin position on FTX International and that FTX US had enough to repay all customers. "Not everyone necessarily agrees with this," he concluded.
Legal experts say Bankman-Fried's tweets are likely to show up in court cases that may result from FTX's collapse. "My advice is shut the f**k up or I quit," former federal prosecutor Ken White told CoinDesk Monday when asked what advice he would give Bankman-Fried with regards to his Twitter account.
Bankman-Fried resigned from bankrupt crypto exchange FTX last week, after the company imploded following a series of events that started with a CoinDesk report that raised questions about the balance sheet of FTX's sister company, Alameda Research.
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