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SBF Cites Memo Claiming FTX Could Have Repaid Users in Months
Former FTX CEO Sam Bankman-Fried renews claim that FTX was solvent at time of collapse, citing declaration from ex-data chief.
Published on Feb. 19, 2026
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Sam Bankman-Fried (SBF) has renewed his claim that FTX was solvent at the time of its collapse, citing a sworn declaration from the exchange's former head of data science, Dan Chapsky. According to the declaration, FTX's international arm faced an $8 billion liquidity shortfall on November 11, 2022, but the platform remained solvent as its assets exceeded customer deposits. Chapsky stated that international customers could have been repaid within months if the exchange had not entered bankruptcy proceedings.
Why it matters
SBF's latest claims challenge the narrative presented at his trial, where he was sentenced to 25 years in prison for fraud tied to FTX's collapse. This new evidence could potentially undermine the prosecution's case and lead to a new trial, which SBF is actively pursuing.
The details
In a post on X (formerly Twitter), SBF shared Chapsky's declaration, stating that no one is more qualified to assess FTX's financial position than the former head of data science. The declaration mentions that while FTX's international arm faced an $8 billion liquidity shortfall, the platform remained solvent as its assets exceeded customer deposits. Chapsky also stated that international customers could have been repaid within months if the exchange had not entered bankruptcy proceedings.
- On November 11, 2022, FTX's international arm faced an $8 billion liquidity shortfall.
- SBF shared Chapsky's declaration on February 17, 2026.
The players
Sam Bankman-Fried (SBF)
The former CEO of FTX, who is currently serving a 25-year prison sentence for fraud tied to the exchange's collapse.
Dan Chapsky
The former head of data science at FTX, who was hired by bankruptcy lawyers to calculate whether the exchange was solvent.
Ryan Salame
A former FTX executive who fought his own legal battle and was later convicted on federal charges.
What they’re saying
“No one in the world is more qualified to comment on this than Dan Chapsky.”
— Sam Bankman-Fried (X (formerly Twitter)
What’s next
SBF has filed a motion in Manhattan federal court Pro Se, requesting a new trial based on the new evidence and witness accounts that could challenge the narrative presented at his initial trial. The request for a new trial was filed by his mother, Barbara Fried, who argued that the new testimony could undermine the prosecution's case.
The takeaway
SBF's latest claims and pursuit of a new trial highlight the ongoing legal battle surrounding the collapse of FTX, a once-prominent cryptocurrency exchange. The new evidence presented by SBF could potentially lead to a re-evaluation of the case and the charges against him, though appellate judges have previously shown skepticism about such arguments.
