I didn't steal billions of depositor funds. Trust me.

Despite this, very substantial recovery remains potentially available. FTX US remains fully solvent and should be able to return all customers’ funds. FTX International has many billions of dollars of assets, and I am dedicating nearly all of my personal assets to customers. …

I didn’t steal funds, and I certainly didn’t stash billions away. Nearly all of my assets were and still are utilizable to backstop FTX customers. I have, for instance, offered to contribute nearly all of my personal shares in Robinhood to customers–or 100%, if the Chapter 11 team would honor my D&O legal expense indemnification.

FTX International and Alameda were both legitimately and independently profitable businesses in 2021, each making billions.

And then Alameda lost about 80 percent of its assets’ value over the course of 2022, due to a series of market crashes–as did Three Arrows Capital (3AC) and other crypto firms last year–and after that its assets fell even more from a targeted attack. FTX was impacted by Alameda’s decline, as Voyager and others were earlier by 3AC and others.

[Please pray for his attorneys, who must be apoplectic to find Bankman-Fried blogging about his case. This is bordering on the pathological. His parents — who are housing him while on $250M bail — should cut off his Internet access ASAP. — Ed]