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Sam banquin freed has continuously asserted that FTX US the US division of FTX is solvent and always had been hes asserted that customers could be repaid at any time and has reiterated these claims in his second sub-stack post these are likely to form one of the linchpins of his arguments at court that is the claim the U.S customers were never defrauded and therefore the United States simply doesnt have jurisdiction however if we dig a little bit deeper into his sub-stack post we can find some fundamental flaws so what exactly are Sam banquin Freeds arguments well at a high level hes asserting the customers balances on FTX us were around 200 million dollars on the other hand the lawyers overseeing the bankruptcy have identified a couple of things first theyve identified 181 million dollars worth of digital assets theres some Nuance with this that Ill come back to but theyve identified those assets second those wires have also found quite large cash balances up to 428 million d
