SBF’s 10 Myths: The Art of Financial Illusion

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A Symphony of Claims and Counterclaims

  • He contested the assertion that FTX was a sinking vessel, its coffers drained by the tides of insolvency, or that a vast ocean of customer funds had been swallowed by the abyss.
  • He mused that FTX might have returned assets like a generous host, rather than selling them off like a desperate merchant, though the legal labyrinth and fees had other plans.

In a series of digital confessions, the former helmsman of FTX, Sam Bankman-Fried, unfurled a tapestry of narratives, each thread woven with the fabric of misunderstanding and distortion. The collapse, he insisted, was not a tragedy but a misinterpretation, a tale spun by prosecutors, judges, and the media, each wielding their own pen.

10 Myths About Me & FTX

1) Myth: FTX was insolvent / $8b vanished

Prosecutors to jurors: I had “more debts than assets”; “there’s this giant, massive, unrepayable hole”

Debtors to my judge/Congress: my claim “FTX was solvent” is “false”; I “lost $8b of customer money”

Media…

– SBF (@SBF_FTX) February 20, 2026

Disputing the insolvency claim

Bankman-Fried, with the fervor of a poet defending his verse, argued that FTX was not a vessel foundering in the storm of debt, but a ship still afloat, its balance sheet a testament to resilience. He spoke of repayments that would return not mere coins, but a golden promise, a 119% to 143% return, a mirage or a miracle? The judge, the jury, the public-all were invited to ponder the riddle.

He posited that the exchange could have returned assets like a generous host, rather than selling them off like a desperate merchant. Yet, the labyrinthine maze of legal proceedings and the toll of professional fees, like a heavy cloak, altered the path of recovery. What a tangled web we weave, when we try to untangle the threads of finance and fate.

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2026-02-20 17:18