FTX, the cryptocurrency exchange that filed for bankruptcy in November 2022, leading to a significant drop in Bitcoin's value to $15,000, has re-emerged in recent discussions.
Sam Bankman-Fried (SBF), the founder and former CEO of FTX, who is currently incarcerated for fraud, has made notable statements concerning FTX and its bankruptcy proceedings.
SBF's Claims on FTX's Financial Status
In a post shared via his X account, SBF asserted that FTX did not actually experience bankruptcy and that customer deposits remained on the platform.
SBF argued that the $8 billion in customer funds from FTX, which is currently undergoing bankruptcy proceedings, "never disappeared" and that the majority of the losses have since been recuperated.
The answer is simple. The money was never lost. Currently, 98% of approved FTX customer claims have been fully refunded, plus interest paid.
SBF explained that the liquidity crisis was nearing resolution when an external legal team intervened and initiated bankruptcy proceedings. He maintained that even after the commencement of bankruptcy proceedings, FTX was not truly insolvent and possessed sufficient resources to satisfy all its creditors.
“Even when FTX was taken over by the bankruptcy legal team, there was enough money to return assets in kind to all customers. Even now, if it weren't for the legal team's poor asset management, a full refund would be possible.”
FTX Asset Holdings and Valuation
According to data presented by SBF, the total valuation of FTX's assets in 2022 was $14.6 billion. This valuation has reportedly surged to $136 billion as of the current date.
The disclosed asset holdings include approximately $14.3 billion in Anthropic and $7.6 billion in Robinhood stock. In terms of cryptocurrencies, FTX holds an estimated $12.4 billion worth of Solana (SOL), $2.3 billion worth of Bitcoin (BTC), and $2.9 billion worth of Sui (SUI). The exchange also holds smaller quantities of Ethereum, XRP, and FTT.
Embedded Social Media Content
[SBF says:]
This is where the money went. https://t.co/HVRwEw5Z1khttps://t.co/5DrA13L5YEpic.twitter.com/O6q77DvmTn
— SBF (@SBF_FTX) October 31, 2025