Dunno what SBF is on about here:
- says FTX US was and is solvent
- likely with hundreds of millions of dollars in excess of customer balances
- FTX US had at least $11mn, likely around $400mn, of recess cash on top of what was required to match customer balances
- says customer balances are likely around $199mn and certainly less than $497mn
- says had estimated roughly $350mn more cash on hand than customer balances required (NAV)
Reuters headline from a blog post while SBF awaits trial.