Former FTX CEO Sam Bankman-Fried (SBF) issued a document pointing out that the law firm Sullivan & Cromwell (S&C), which was entrusted by the new CEO to handle FTX's bankruptcy reorganization, found that FTX US was not insolvent. He said: "Some of the content released by S&C is extremely misleading. They said in a PPT presentation that the investigation had confirmed that there was a funding gap in FTX US, but S&C did not at least put the $428 million that actually existed as assets in the bank of FTX US. Account. In addition to the funds required to match customer balances, FTX US has at least $111 million (likely approximately $400 million) in excess cash." SBF attaches the FTX US balance sheet created on November 10, 2022, This balance sheet shows that FTX US has excess capital of approximately $350 million.