Outstanding crypto lawyer and U.S. Senate candidate John Deaton has escalated his opposition to any pardon for former FTX CEO Sam Bankman-Fried, rejecting latest makes an attempt to painting the trade as solvent earlier than chapter.
As SBF circulates modeled charts projecting a possible $78 billion internet asset worth by 2025, Deaton argues the authorized verdict and creditor losses outweigh theoretical recoveries.
John Deaton rejects SBF’s $78B solvency claims and pardon plea
Deaton’s feedback comply with Bankman-Fried’s makes an attempt at a digital comeback. In a latest “10 Myths About Me & FTX” put up on X, SBF disputed insolvency claims and shared a chart modelling FTX’s internet asset worth over time.
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The graphic there prompt that had chapter not been initiated in November 2022, internet asset worth might have climbed to $78 billion by February 2025, in contrast with a petition-date NAV of $16.5 billion. The projections rely partly on modeled valuations of holdings, together with tokens akin to SRM and FTT.
Deaton, broadly identified for his advocacy for the XRP group in the course of the SEC v. Ripple escalation, will not be shopping for the statistical revisionism. For him, the previous billionaire was a “criminal, thief, and liar,” and his earlier operations have been basically a family-coordinated effort to siphon retail financial savings into political affect and international advertising and marketing.
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Past the “Sam Bankman Fraud” moniker, Deaton’s critique extends to the “two-tiered justice system,” questioning why SBF’s mother and father, each Stanford professors, haven’t confronted related prison repercussions for his or her alleged roles within the FTX ecosystem.
Whereas SBF’s group shares charts, authorized specialists stay skeptical, noting that “modeled property” usually depend on illiquid tokens that lack real-world market depth.
Because the 2026 political cycle heats up, Deaton’s categorical opposition could sign that the crypto trade’s “pro-law” faction is able to combat any narrative that minimizes the gravity of the FTX fraud, no matter present market valuations or theoretical recoveries.