Sam Bankman‑Fried Says Handing FTX to New CEO May Have Prevented Last‑Minute Rescue, Bitcoin Dip Noted

Sam Bankman-Fried says his single biggest mistake was handing control of FTX to new management on Nov. 11, 2022, which he claims prevented a last‑minute external investment and cost him the chance to avert the exchange’s ￰0￱ point 1: SBF attributes the FTX collapse to relinquishing leadership to John ￰1￱ III on Nov. 11, ￰2￱ point 2: FTX’s bankruptcy revealed an $8.9 billion shortfall tied to Alameda Research fund ￰3￱ point 3: The FTX estate has repaid $7.8 billion so far and estimates up to $16.5 billion in recoverable ￰4￱ Bankman-Fried biggest mistake: SBF says handing FTX to new management cost a rescue chance — read creditor repayment updates and legal ￰5￱ Bankman‑Fried claimed that handing over FTX to its current CEO was the “single biggest mistake” that prevented him from saving the ￰6￱ was Sam Bankman‑Fried’s biggest mistake that led to the FTX collapse?

Sam Bankman‑Fried’s biggest mistake was signing over control of FTX to new management on Nov. 11, 2022, a decision he says removed his ability to accept a possible external investment minutes ￰7￱ transfer preceded the Chapter 11 filing and accelerated the exchange’s bankruptcy ￰8￱ did the leadership handover affect the bankruptcy process? The leadership handover on Nov. 11, 2022, allowed John ￰9￱ III to assume control and quickly pursue Chapter 11 ￰10￱ new direction, the estate engaged Sullivan & Cromwell for restructuring and legal representation. Plain‑text reporting by Reuters and coverage in Mother Jones document timelines and legal filings surrounding these ￰11￱ did FTX collapse and how large was the investor shortfall?

FTX collapsed after internal transfers of customer funds to Alameda Research produced trading losses now described as the “Alameda gap.” Criminal convictions established that unauthorized transfers created an estimated $8.9 billion shortfall and triggered mass withdrawals, liquidity failure, and ￰12￱ was appointed and what legal actions followed? John ￰13￱ III was appointed chief executive and filed Chapter 11 the same ￰14￱ & Cromwell subsequently provided legal services and, according to legal filings reviewed by Reuters, earned over $171.8 million in fees by mid‑2024. A creditors’ suit naming the law firm was filed and later voluntarily dismissed in October 2024.