{
  "version": "1.0.0",
  "generatedAt": "2026-05-07T12:20:16.048Z",
  "findingType": "lie",
  "findingId": 7,
  "contentHash": "e85c81d9a37c5b4634180902fb7f8149a671312fa817e342be4e1228312e7493",
  "title": "Bankman-Fried: 'FTX has enough to cover all client holdings. We don't invest client assets.'",
  "summary": "Sam Bankman-Fried promised: \"FTX has enough to cover all client holdings. We don't invest client assets (even in treasuries). We have been processing all withdrawals, and will continue to be.\" (Mon Nov 07 2022 00:00:00 GMT+0000 (Coordinated Universal Time)). 2 documented violation(s). Severity: catastrophic.",
  "methodology": "Documented promises are sourced from public statements, filings, and transcripts. Each promise must have a non-empty source URL. Violations are independently sourced with evidence strength tiers. The time delta (days after promise) quantifies the gap between commitment and breach. Materiality assessment includes financial cost, people affected, and environmental impact where applicable.",
  "sources": [
    {
      "url": "https://web.archive.org/web/20221107235731/https://twitter.com/SBF_FTX/status/1589415256286126080",
      "label": "Sam Bankman-Fried on Twitter, 7 November 2022 (archived; later deleted)",
      "type": "primary"
    },
    {
      "url": "https://www.reuters.com/business/finance/ftx-bankruptcy-filing-shows-balances-up-50-billion-2022-11-11/",
      "label": "Reuters, 11 November 2022",
      "type": "primary"
    },
    {
      "url": "https://www.justice.gov/usao-sdny/pr/samuel-bankman-fried-sentenced-25-years-his-orchestration-multiple-fraudulent-schemes",
      "label": "US Department of Justice, 28 March 2024",
      "type": "primary"
    }
  ],
  "queries": [
    {
      "description": "Promise record with entity",
      "table": "documented_promises",
      "parameters": {
        "id": 7
      }
    },
    {
      "description": "Promise violations",
      "table": "promise_violations",
      "parameters": {
        "promiseId": 7
      }
    }
  ],
  "dataSnapshot": {
    "promiseId": "7",
    "slug": "sbf-ftx-customer-funds-safe-2022",
    "entityId": "31233",
    "entityName": "Sam Bankman-Fried",
    "headline": "Bankman-Fried: 'FTX has enough to cover all client holdings. We don't invest client assets.'",
    "promiseText": "FTX has enough to cover all client holdings. We don't invest client assets (even in treasuries). We have been processing all withdrawals, and will continue to be.",
    "promiseDate": "2022-11-07T00:00:00.000Z",
    "promiseSourceUrl": "https://web.archive.org/web/20221107235731/https://twitter.com/SBF_FTX/status/1589415256286126080",
    "audience": "customers",
    "domain": "financial",
    "severity": "catastrophic",
    "status": "violated",
    "narrative": "Four days after this public assurance, FTX filed for bankruptcy. Bankman-Fried was subsequently convicted on seven counts of fraud and conspiracy after evidence showed customer funds had been routed to his hedge fund Alameda Research.",
    "financialCostUsd": null,
    "peopleAffectedEstimate": null,
    "violations": [
      {
        "id": "14",
        "violationText": "FTX files for Chapter 11 bankruptcy; Bankman-Fried resigns as CEO.",
        "violationDate": "2022-11-11T00:00:00.000Z",
        "violationSourceUrl": "https://www.reuters.com/business/finance/ftx-bankruptcy-filing-shows-balances-up-50-billion-2022-11-11/",
        "evidenceStrength": "primary",
        "daysAfterPromise": "4"
      },
      {
        "id": "15",
        "violationText": "Bankman-Fried convicted on all seven counts of fraud and conspiracy; sentenced to 25 years in prison.",
        "violationDate": "2024-03-28T00:00:00.000Z",
        "violationSourceUrl": "https://www.justice.gov/usao-sdny/pr/samuel-bankman-fried-sentenced-25-years-his-orchestration-multiple-fraudulent-schemes",
        "evidenceStrength": "primary",
        "daysAfterPromise": "507"
      }
    ],
    "createdAt": "2026-05-03T09:29:14.730Z"
  },
  "entities": [
    {
      "id": "31233",
      "name": "Sam Bankman-Fried",
      "slug": "sam-bankman-fried",
      "type": "person"
    }
  ],
  "verificationSteps": [
    "Retrieve documented promise #7 from documented_promises.",
    "Visit promise source: https://web.archive.org/web/20221107235731/https://twitter.com/SBF_FTX/status/1589415256286126080 — confirm the original commitment was made.",
    "Violation #1 (Fri Nov 11 2022 00:00:00 GMT+0000 (Coordinated Universal Time)): visit https://www.reuters.com/business/finance/ftx-bankruptcy-filing-shows-balances-up-50-billion-2022-11-11/ — confirm \"FTX files for Chapter 11 bankruptcy; Bankman-Fried resigns as CEO.\"",
    "Violation #2 (Thu Mar 28 2024 00:00:00 GMT+0000 (Coordinated Universal Time)): visit https://www.justice.gov/usao-sdny/pr/samuel-bankman-fried-sentenced-25-years-his-orchestration-multiple-fraudulent-schemes — confirm \"Bankman-Fried convicted on all seven counts of fraud and conspiracy; sentenced to 25 years in prison.\"",
    "Verify the SHA-256 content hash by re-generating the JSON bundle."
  ]
}