FTX Founder Sam Bankman-Fried Says FTX US Was And Is Solvent, Likely With Hundreds Of Millions Of Dollars In Excess Of Customer Balances-Blog Post

Jan 17 (Reuters) -

* FTX FOUNDER SAM BANKMAN-FRIED SAYS CLAIMS BY SULLIVAN & CROMWELL ON TUESDAY ARE WRONG, AND CONTRADICTED BY DATA LATER ON IN SAME DOCUMENT-BLOG POST

* FTX FOUNDER SAM BANKMAN-FRIED SAYS FTX US WAS AND IS SOLVENT, LIKELY WITH HUNDREDS OF MILLIONS OF DOLLARS IN EXCESS OF CUSTOMER BALANCES-BLOG POST

* FTX FOUNDER SAM BANKMAN-FRIED- FTX US HAD AT LEAST $111M, LIKELY AROUND $400M, OF EXCESS CASH ON TOP OF WHAT WAS REQUIRED TO MATCH CUSTOMER BALANCES

* FTX FOUNDER SAM BANKMAN-FRIED SAYS CUSTOMER BALANCES ARE LIKELY AROUND $199 MILLION, AND CERTAINLY LESS THAN $497 MILLION

* FTX FOUNDER SAM BANKMAN-FRIED SAYS HAD ESTIMATED ROUGHLY $350 MILLION MORE CASH ON HAND THAN CUSTOMER BALANCES REQUIRED (NAV)

* FTX FOUNDER SAM BANKMAN-FRIED -THERE SEEMS TO BE ROUGHLY $34M IN CORPORATE BANK ACCOUNTS OF OTHER SUBSIDIARIES THAT AREN’T PART OF CHAPTER 11 PROCESS Source text link: https://bit.ly/3CXKMoq