It's very different. Pre-bankruptcy FTX would have owed crypto, so increases in crypto prices (other than FTX's own bespoke "token") would not have helped. Po

It's very different. Pre-bankruptcy FTX would have owed crypto, so increases in crypto prices (other than FTX's own bespoke "token") would not have helped. Post-bankruptcy, FTX owes cash based on historical (lower) crypto prices. So no, SBF is not quite right.