BREAKING: John J. Ray III, FTX's new CEO appears at SBF appeal to respond to salacious allegations of gross misconduct, destruction of $130Bn of estate assets to keep a perfectly solvent company under his control in Ch. 11 bankruptcy, giving releases and exculpations to co-conspiritors in SBF's fraud: "Here's my message to the victims..." "The original hole was $10.8B and yes, we charged $1.5B in fees, it will be well over $2.5B by the time this is over making this by far the most expensive bankruptcy ever measured in liabilities. Yes, I paid my self-appointed board $1M each to sanction my $42M bonus that wasn't in the plan the creditors voted for. But look what we achieved, we successfully kept a perfectly solvent company in bankruptcy, this has never been done in American history. "This was an extraordinary effort, billions of dollars kept popping up like a shart you're trying to hold in at a client-expensed firm-wide offsite retreat, it was like whack-a-mole... $10B of $HOOD, WHACK! $600M sold to my boy Vlad $1.5B Genesis clawback, WHACK! $180M to my boy Big Week Barry, $5B of SUI, WHACK! $100M $1B hacked funds recovered, WHACK! $0 $5B in Solana, WHACK! $600M $2.2B Binance clawback, (Quinn Emmanuel, Paul Hastings client), WHACK! $0 $32B FTX 2.0 relaunch, WHACK! $0 ...just when we thought we got 'em all $16B of Anthropic turns up and even though the UCC tied my hands to hold on, I managed to go behind their back and dump that sucker for $1.8B. Thankfully they hired the same lawyer as SUI so already familiar with my game. "and that's not all... we placed FTX EU, FTX JP into bankruptcy illegally without board approval. The Swiss judge threatened legal action on li'l old me so I promptly sold that junk company back to the FTX EU employees and gave myself a legal release. BOOM. I'm currently facing the same threat from an FTX JP employee @Cryptoguy_19 so we're using estate assets to go after him and withholding his KEIP payment, easy work. "oh you thought I was done. Even the DOJ's Examiner spent 6 months investigating and couldn't determine why FTX US was in bankruptcy at all. That bastard asked for extra time to look at Sullcrom's convenient omissions to the Judge about their pre-petition work structuring the HOOD investment vehicle to hide the stolen source of funds AND their prior knowledge of the Alameda back door by silencing Julie Shoening when she whistleblew it to LedgerX leadership. Solved that one with a quick sale of the billion dollar LedgerX licenses at the peak of the CFTC hype for a cool $35M back to my homies @zackdex and Mark Wetjen, gave them all releases and a $1.9M bonus to Mark to boot. "In closing, I'd like to thank my legal team who have consistently billed every single hour of the working week since Nov 11th 2022 with no breaks, no vacations, no bank holidays, according to payment logs they even work on the Sabbath, I mean you can't get more dedication than that. Thank you for your time your honor and God bless the US bankruptcy industrial complex" Disclaimer: this is obviously satire but I'd happily debate any of the points above in a public forum, my guess is they won't risk it.

[SBF says:] I’ve heard that some people in the replies are asking: Where did the money go? The answer is: It never left. In fact, 98% of allowed FTX customer claims have already been fully repaid—with interest. That's in petition-date USD. But when bankruptcy lawyers took over FTX, it had enough money to repay everyone in kind (and it still would today if not for the lawyers' mismanagement): drive.google.com/file/d/1e2v… And there's still enough money left to cover the entire $6.5 billion 'disputed claims reserve': storage.courtlistener.com/re… Last week, customers with disputed claims won a small victory. The bankruptcy lawyers had filed a motion to withhold repayments in 49 countries (while paying themselves and the government billions of dollars from the estate...). Given the bankruptcy court’s history of siding with the FTX lawyers, it was widely expected to pass. But on Thursday, the new judge on the case rejected the motion, saying it was too early to make such a decision. A creditor who goes by Will的折腾纪 says: "This is a beginning, not the end. We must keep pushing until every creditor gets paid. More Chinese creditors and media should join this effort — we need visibility and unity." He runs a group to fight for FTX China creditors here: t.me/ftx_chinese gettr.com/post/p3tj6sxf2bc

SAM BANKMAN-FRIED: I DON'T HAVE ANY MONEY "Had had nothing intervened, today, it would have about $15B of liabilities, and about, $93B of assets. There was enough money to pay everyone back in kind at the time or today with plenty of interest left over and tens of billions left for investors. But, that's not how things worked out." Source: @TCNetwork, @sbf_ftx, @Tuckercarlson

SBF insisted that FTX was solvent and “could even repay crypto in kind.” FYI, former FTX executive Dan Chapsky also claimed in a recent interview that FTX was solvent and could repay customers in crypto. With SBF’s appeal approaching, the narrative battle between the pro-FTX bankruptcy team and his supporters is set to escalate.

Sam Bankman-Fried is doing 25 years behind bars, and is now sharing a cell block with Diddy. He joins us from prison for an update on his new life. (0:00) What Has Prison Been Like? (2:28) Was SBF Ever on Adderall? (4:42) SBF Meeting Diddy in Prison (7:01) How Prison Has Changed SBF’s Perspective (9:37) The Democrats Refused to Rescue SBF Despite His Large Donations (15:24) The Future of Crypto Under Donald Trump (21:17) Does SBF Have Any Money Left? (24:42) Tucker Confronts SBF About His Effective Altruism Cult (31:13) Will SBF Ever Actually Get Out of Prison? (36:41) Why All of SBF’s Friends, Family, and Co-Workers Abandoned Him Includes paid partnerships.