Claim BonusSam Bankman-Fried Expresses Surprise Over FTX Withdrawal Halt In US
Sam Bankman-Fried FTX News: In an interesting turn of events, Sam Bankman-Fried had on Thursday expressed doubts over the handling of fund withdrawals at FTX US. The FTX founder said he was sure of FTX US solvency when the company filed for bankruptcy around November 12. As part of the bankruptcy announcement, SBF stepped down from the role of CEO while John J Ray III has been appointed as his replacement to oversee the bankruptcy process.
Also Read: Mike Novogratz On Actual Bitcoin Price If Not For FTX Collapse
SBF Remark Aimed At New CEO John J Ray III
In a tweet, SBF said he was surprised as to why US withdrawals were turned off. Meanwhile, SBF’s comments may be seen as criticism on FTX’s handling under new CEO John J Ray III. Earlier in November 2022, the new CEO called the FTX situation ‘unprecedented’. Ray said the situation was unlike any corporate failure he saw in his long career. SBF’s comments on FTX withdrawals read,
“When I filed, I am fairly sure FTX US was solvent, and that all US customers could be made whole. To my knowledge, it still is today. I was expecting that to happen. I am surprised it hasn’t. I am not sure why US withdrawals were turned off.”
US Arm Of FTX Insolvent?
The latest statement from SBF also raised his concerns around the solvency of various FTX subsidiaries. He indicated that FTX US was actually solvent at the time of filing for chapter 11 bankruptcy. In a ripple effect from the crypto crash that ensued the liquidity crisis with FTX, crypto lender BlockFi officially filed for bankruptcy. In its bankruptcy filing, the company said it had a pending $275 million loan to FTX.
Also Read: Crypto Lender BlockFi Bankruptcy Live Updates: Failure Of FTX Cripple BlockFi, As Per Court Filings
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- CLARITY Act: Coinbase’s Brian Armstrong and JPMorgan’s Jamie Dimon Clash Over Crypto Bill
- Fed Rate Cut: Trump Signals Fed Chair Pick Kevin Warsh Will Lower Rates
- BGB Sees Adoption Boost as Kraken Lists Token
- Breaking: U.S. PPI Inflation Comes In Hot At 3%, Bitcoin Falls
- Best Crypto Payment Plugins for WooCommerce [2026 Guide]
- Ethereum Price Prediction As Vitalik Withdraws ETH Worth $44M- Is a Crash to $2k ahead?
- Bitcoin Price Prediction as Trump Names Kevin Warsh as new Fed Reserve Chair
- XRP Price Outlook Ahead of Possible Government Shutdown
- Ethereum and XRP Price Prediction as Odds of Trump Attack on Iran Rise
- Gold and S&P 500 Price Prediction as BTC $88K Sparks Global Risk-On Rally
- How High Can Hyperliquid Price Go in Feb 2026?
