Users of FTX US Will Receive a Complete Refund: SBF

  • Sam Bankman-Fried made an assertion that FTX US users will receive full refunds.

  • SBF said that filing bankruptcy was a mistake because the exchange had $4 billion in liquidity 8 minutes after declaring bankruptcy.

30 Nov 2022 By: Anirudh Trivedi
Users of FTX US Will

Sam Bankman-Fried, the disgraced founder of crypto exchange FTX, 

Has been making brief appearances on Twitter and is expected to make his first public appearance on Wednesday, November 30, at the New York Times' annual DealBook Summit.

A transcript of SBF's phone interview with Tiffany Fong has just surfaced. The interview allegedly took place five days after FTX declared bankruptcy on November 11. During this interview, SBF makes a few bold assertions concerning fund recovery.

It should be noted that SBF has been kicked out of the company's activities and is no longer in charge of any FTX entities. However, he stated that FTX US customers will receive a full refund. SBF added in his telephonic interview:

“If nothing transpires, if I am unable to do anything else, FTX users will receive $1 for every dollar spent, while FTX will receive 25 cents for every dollar spent.”

He also stated that filing for Chapter 11 bankruptcy was a mistake and that he is willing to do anything if someone can reverse it for him. When asked about bankruptcy during his interview, SBF stated, "You can blame the f**king moron, you're talking to for actually submitting this document, I should have just said no... it was the right thing to do not file - I would do anything right now to unfile that."

SBF said in a statement that may appear to be a joke: "8 f**king minutes after I filed for bankruptcy, $4 billion more came in of liquidity."

FTX’s SBF Donated To the Republican Party

When asked about his large contributions to the Democratic Party ahead of the midterm elections, SBF stated that he was also donating to the Republican Party. "This year, I gave almost the same amount to both parties," he remarked.

He also stated that he was the Republican's second or third largest donor. Furthermore, the discredited founder stated that all Republican donations were kept secret since the media freaks out when Republicans donate.

Lastly, he stated that due to its buy-and-burn feature, FTX's native crypto FTT token offered a superior value proposition than most tokens. SBF stated in response to the million-dollar hack that it was either an ex-employee or someone had installed malware on an ex-employee’s computer. As per the most recent data, the hacker has 255 BTC on the cryptocurrency exchange OKX.

Crypto enthusiasts refuse to believe SBF's words after everything that has happened. In the midst of all the criticism directed at SBF, Su Zhu, a co-founder of Three Arrows, makes a comeback hint.

Read also: Non-Whale BTC Investors Set a New Bitcoin Accumulation Milestone