In an extensive blog post, Sam Bankman-Fried attempted to explain the collapse of FTX and denied allegations that he stole any funds.
Bankman-Fried also reiterated that he believes FTX could have survived and still has a chance to become solvent if he were allowed to continue to run the company. NBC News has not verified any of the various balance sheets Bankman-Fried published in the blog post.
The bulk of Bankman-Fried’s blog post goes over a series of events that is by now well documented: the growth of FTX and Alameda, the crypto market’s broad decline and a tweet by Binance CEO Zhao, that would lead to the collapse in price of FTX assets and a subsequent rush by customers to get their money and funds off the platform.
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