SBF Interviewed: Reasons for Prioritizing Bahamas Withdrawals, FTX Users May Be Able to Recover 1/4 of Funds

SBF was interviewed again and still did not explain why user funds were misappropriated, the extent of the funding gap, etc. "Regretting applying for bankruptcy" has become his recent argument, emphasizing that he was originally capable of saving FTX. A clearer point is that Bahamian users can indeed withdraw funds, a decision made by SBF himself, rather than FTX's initial statement of "complying with regulatory authorities."

Most of SBF's interview content is similar to previous statements, with more important points including:

• If there are no further positive developments, FTX US users will eventually receive 100% of their assets, while FTX users will receive about 1/4.

• SBF's total political donations to both US parties are close, with Republican donations undisclosed out of fear of media backlash.

• SBF confirmed that prioritizing withdrawals for Bahamian users was his decision, as he was in the Bahamas and feared local backlash. This also indicates that the Bahamian authorities' claim of not instructing FTX on withdrawal matters is true, and FTX's announcement is a lie.

Has User Funds Been Misappropriated by Alameda?

SBF remains evasive on this issue, repeatedly emphasizing the need for greater caution and ensuring things are on the right track, but things have not gone as planned. He then shifts the focus to the rapid decline in collateral value:

Several things happened simultaneously, including chaotic accounting reports, the market crash in the second quarter, followed by the November crash highly correlated with the assets we hold, where we saw a 50% drop, along with bank runs, forced liquidation on FTX positions, etc. I should be more careful with all of this.

FTX Backdoor

There's a claim that FTX has a backdoor that allows SBF to send money to Alameda without altering any data.

SBF emphasizes that this is absolutely not true; he doesn't even code. The closest to the truth is that user wire transfers go through Alameda for users to use on FTX.

FTT Collateral Misjudgment

SBF previously believed that FTT was more valuable compared to other tokens, but he admits to underestimating the token's high correlation during market fluctuations. However, he still stresses that the asset's decline, bank runs occurring simultaneously were the main causes of bankruptcy.

Reiterating Should Not Have Filed Chapter 11, FTX US Can Fully Repay

SBF calls himself an idiot for entering bankruptcy proceedings, willing to pay any price to withdraw the bankruptcy application.

He also mentions that FTX US's repayment capacity is 100%, even if hackers stole $250 million, there is still about over $500 million in repayment capacity.

Can Bahamian Users Really Withdraw?

SBF had already informed Bahamian authorities the day before the bankruptcy, and the Bahamian authorities had no opinion on whether local users should be given priority for withdrawals, leaving the decision to SBF himself. He stated:

The reason for doing this is crucial for FTX's future, as the Bahamas is where I am, and you wouldn't want to stay in a country where everyone is complaining about you.

Political Donations, Actually Donated to Both Parties

SBF was previously known as the "second-largest donor to the Democratic Party," but he reveals that the amount he donated to both parties is actually the same:

The amount I donated to both parties this year is about the same. The Republican donations are not public because if the media found out, they would go crazy.

FTX Hacker Identity

Similar to previous claims, it could be a former employee, or a former employee's computer was infected with malicious software.

User Compensation

SBF points out that if no positive developments occur, FTX US users will ultimately receive 100% of their assets, while FTX users will receive about 1/4.