FTX founder Sam Bankman-Fried on Tuesday said the U.S. arm of the cryptocurrency exchange, which filed for Chapter 11 bankruptcy on Friday, had enough money in reserves to pay all the customers who lost money due to the collapse of The FTX token FTT/USDthe native token of the exchange.
He also said that FTX’s sister firm Alameda Research, which is in the eye of the storm for using the crypto exchange’s funds for risky trading games, had more assets than liabilities.
“Alameda had more assets than debt M2M (but not liquid!),”[ads1]; the founder tweeted, adding, “Alameda had margin position on FTX Intl.”
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“FTX US had enough to repay all customers,” he continued.
Bankman-Fried went on to say that not everyone would necessarily agree with his statement.
Meanwhile, Bankman-Fried has reportedly been trying to raise new funds, even as his exchange, along with 130 other affiliated entities, entered bankruptcy proceedings last week.
Bankman-Fried and a handful of other employees spent last weekend making phone calls in an effort to secure commitments from investors to cover a potential $8 billion shortfall to repay FTX’s customers, according to a Tuesday Wall Street Journal report.
The report states that his attempts to make up the deficit have not been successful.
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