SBF Claims FTX Held $15B in Assets at Bankruptcy, Exceeded Customer Liabilities by $7B

Sam Bankman-Fried stated in an Oct. 31 report that FTX held approximately $15 billion in total assets when filing for bankruptcy in November 2022, exceeding the roughly $8 billion owed to customers. The assets included cash, crypto holdings, investments, and real estate. Bankman-Fried argued the exchange faced a liquidity crisis rather than insolvency, claiming operations could have resumed within the year without intervention. Creditors are projected to receive 119% to 143% of their principal in dollar terms, though repayments are calculated using November 2022 cryptocurrency prices—when Bitcoin traded around $17,000 compared to over $100,000 currently.