Billionaire Sam Bankman-Fried Counters Speculation That His Crypto Empire Could Become Insolvent

Billionaire Sam Bankman-Fried is countering rumors that his crypto empire is relying on a balance sheet dominated by FTX Token (FTT). A purported balance sheet from Alameda Research spurred speculation that Bankman-Fried’s business relies too heavily on FTT, suggesting that the company could spiral if the value of FTT plummets.