Law firm Sullivan & Cromwell contradicted itself when it stated that shuttered crypto exchange FTX US is insolvent, former CEO Sam Bankman-Fried claimed in a Jan. 17 blog post that was shared on Twitter.
— SBF (@SBF_FTX) January 18, 2023
The law firm was hired by FTX Group to handle the bankruptcy proceedings of several of its subsidiaries, including FTX International, Alameda Research and FTX US. However, Bankman-Fried has stated on several occasions that he believes FTX US is solvent and should not have declared bankruptcy.
In a statement filed with the United States Bankruptcy Court for the District of Delaware on Jan. 17, Sullivan and Cromwell reiterated its claim that FTX US is not solvent, stating: “The