SBF Claims FTX Never Filed for Bankruptcy, Blames Lawyers for Collapse

iconKuCoinFlash
Share
Share IconShare IconShare IconShare IconShare IconShare IconCopy
AI summary iconSummary

expand icon
Sam Bankman-Fried claims FTX never filed for bankruptcy, accusing lawyers of orchestrating the collapse by filing a fraudulent application within four hours. Alex Wice, Rollbit partner, criticized the U.S. judicial system for blocking SBF from presenting evidence, calling the trial narrative a fabricated story by prosecutors and Sullivan & Cromwell. He argued FTX faced only minor liquidity and crypto markets issues with no intent to defraud, just management mistakes. SBF agreed, asserting that lawyers took control and accelerated the process, undermining CFT protocols meant to protect assets.

Odaily Planet News: Crypto KOL and Rollbit partner Alex Wice posted on the X platform, stating that Ryan Salame was imprisoned for refusing to testify against SBF, which reflects flaws in the U.S. judicial system. Alex Wice believes that SBF was deprived of the right to present evidence during the trial, Judge Kaplan rejected his defense of "reliance on legal advice," and excluded evidence related to solvency and terms of service.

Alex Wice pointed out that the trial narrative was a fictional account conceived by the prosecutor and Sullivan & Cromwell, aiming to attribute all the blame to SBF. In fact, FTX had only a very small capital shortfall at the time of its bankruptcy. Although SBF had made management errors, he had no motive for fraud and had always tried to keep FTX running in order to repay customers. He believes that if SBF had not signed the bankruptcy agreement, FTX customers might have been repaid more quickly. Alex Wice called for the release of Ryan Salame and SBF.

In response to this matter, the SBF X platform account posted a reply: "I basically agree with all the above points. But FTX never went bankrupt. I never filed for bankruptcy. The lawyers took over the company, and four hours later, they submitted a false bankruptcy application in order to steal the company's assets."


Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.