FTX founder "Customer funds have never disappeared... Most claims have been repaid"

Sam Bankman-Fried (Sam Bankman-Fried, SBF), former FTX chief executive officer (CEO), claimed that the customer funds of FTX, which is undergoing bankruptcy proceedings, "have never disappeared" and that most of the losses have already been recovered.

On the 30th (local time), SBF said on X, "There are people in the comments asking 'Where did FTX's money go?'" and said, "The answer is simple. The money never disappeared." He explained, "Currently 98% of approved FTX customer claims have already been fully repaid, and interest has been paid as well," adding, "This is the figure calculated in U.S. dollars as of the bankruptcy filing date."

He added, "Even when FTX was taken over by the bankruptcy legal team, there was enough money to return assets to all customers in kind," and "Even now, if not for the legal team's poor asset management, full repayment would have been possible."

He also claimed that there remain enough residual assets to fully cover approximately $6.5 billion in the 'disputed claims reserve' and posted a link to the relevant court document.

Regarding recent litigation developments, he said, "The bankruptcy legal team filed a motion to defer repayment to creditors in 49 countries, but the newly assigned judge dismissed it as 'premature'," and evaluated, "This is a small but important victory for FTX creditors."