SBF X account post: FTX has never gone bankrupt, and about 98% of creditors have received 120% of their payments

ChainCatcher news, former FTX CEO Sam Bankman-Fried (SBF) released a report titled "FTX: Where Did The Money Go?", which states, "FTX never went bankrupt, even though its lawyers placed it in bankruptcy."

More than 7 million customers deposited about $20 billion into the cryptocurrency exchange FTX. In November 2022, when customers attempted to withdraw their funds, FTX filed for bankruptcy, still owing customers $8 billion. Customers have not recovered any funds for years. Where did those billions go?

The answer is that the funds never left. After two years of delays, the bankruptcy administration revealed that all customers will receive 119% to 143% repayment. About 98% of creditors have received 120% repayment, and after paying $8 billion in claims and $1 billion in legal fees, the bankruptcy administration still has $8 billion remaining.