Sam “SBF” Bankman-Fried stated in a post from prison on his X account that he presented new evidence alleging that the U.S. Department of Justice (DOJ) silenced or altered statements of key witnesses during former President Joe Biden’s term, and demanded the overturning of his conviction and a new trial. The filing submitted to the court on Thursday under Federal Rules of Criminal Procedure 33 includes a statement from former FTX employee Daniel Chapsky.
Source: Sam Bankman-FriedSBF’s Move from Prison: Allegations Against DOJ
Chapsky, described as former FTX head of data science, stated in his declaration dated July 13, 2023, that his lawyers strongly advised him not to testify due to risks of media attacks and prosecutorial retaliation. Chapsky, who noted that other former FTX employees received similar warnings, argued that his testimony would refute the prosecution’s claims regarding FTX’s financial situation.
FTX Solvency Claim: Chapsky’s Key Statement
According to Chapsky, FTX was solvent before its November 2022 bankruptcy; its assets always exceeded its liabilities. This directly challenges SBF’s 25-year prison sentence for misusing customer funds at FTX and Alameda Research. The declaration implies that the DOJ pressured witnesses under Biden-era policies.
Bankman-Fried court filing on testimony allegedly withheld by Chapsky. Source: Courtlistener
Net Asset Value over time if lawyers hadn’t placed FTX into bankruptcy. Source: CourtlistenerFTX Net Asset Value: Pre-Bankruptcy Facts
The chart shows that FTX’s net asset value would have remained positive if bankruptcy had not been filed. This data argues that the company’s liquidity issues were artificial, triggered by the bankruptcy process rather than poor management. Experts are debating whether this claim meets the court’s new evidence standard.
SBF’s Impact on FTT Price: Current Market
SBF’s move could stir FTT detailed analysis data. FTT is currently at $0.33, in a downtrend with 24h +1.15% change. RSI 39.23 (neutral), Supertrend bearish, pressure above EMA 20 $0.3702. Legal developments could positively affect investor sentiment.
FTT Technical Analysis: Support and Resistance Table
| Level | Price | Score | Distance | Sources |
|---|---|---|---|---|
| S1 | $0.3305 | 74/100 ⭐ | -0.87% | Fibo 0.114, MACD Cross, S1 |
| S2 | $0.2638 | 73/100 ⭐ | -20.88% | Fibo 0.000, Donchian Lower, Swing |
| R1 | $0.4019 | 67/100 ⭐ | +20.55% | Fibo 0.236, Ichimoku Kijun, R2 |
| R2 | $0.3689 | 62/100 ⭐ | +10.65% | BB Middle, SMA 20, Fibo 0.214 |
S1 strong support (74 score), breakout to R2 could increase volatility. Watch FTT futures.
Risk and Opportunity Analysis for FTT Investors
If SBF case reopens, FTT rally possible, but if DOJ rejects, dump risk. Similar downtrend observed in related coins JOE and T. Short-term hold S1, long-term watch JOE detailed analysis.
