SBF Claims FTX Was Solvent, $138B Lost in Bankruptcy

Slightly positive impact

Sam Bankman-Fried asserts FTX was solvent in 2022 with assets to repay users, but lawyers triggered bankruptcy leading to over $138B in losses from mismanagement. FTX creditor recoveries are estimated at $14.46B-$16.25B, covering 123%-138% of claims.