Deaton opposed any pardon and said losses and verdict remain central.
Chart relied on modeled values of SRM and FTT during the projection.
Legal experts noted modeled assets differ from real liquidity in crises.
Crypto attorney and U.S. Senate candidate John Deaton has opposed any effort to grant Sam Bankman-Fried a pardon after new claims surfaced about the former CEO’s view of FTX’s past solvency. His remarks came soon after Bankman-Fried shared a chart that modeled a possible rise in FTX’s net asset value to $78 billion by early 2025.
The debate has returned to public view as Bankman-Fried attempts to question the insolvency narrative that shaped the exchange’s bankruptcy. His recent chart compared a petition date net asset value of $16.5 billion in November 2022 with a projection that assumed rising asset prices over the next two years.
Bankman-Fried posted the chart during a broader effort titled “10 Myths About Me and FTX,” which aimed to dispute the story that the company was insolvent at the time of its collapse. The projections relied on modeled values for tokens such as FTT and SRM. These tokens had fallen sharply during the crisis and lacked strong trading depth.
In his post, Bankman-Fried argued that if bankruptcy had not been initiated, asset prices could have recovered. He said the exchange could have reached a net asset value above $78 billion by February 2025. He presented the numbers as a scenario that he believed could occur in a recovering market.
Legal observers noted that the chart used modeled values rather than realized prices. They explained that such estimates often depend on trading conditions that may not exist during periods of stress. They also pointed to the liquidity problems that occurred when FTX customers attempted to withdraw funds in November 2022.
John Deaton responded directly to the renewed claims. He opposed any discussion of clemency for Bankman-Fried. He said that projected values do not change the court’s findings or the losses that creditors faced. Deaton stated that the trial and verdict remain the basis for assessing the case.
He also expressed concern about efforts to shift public focus through modeled numbers. He said the claims do not change what happened during the company’s collapse. His remarks were shared widely as the discussion reached political circles during the early stages of the 2026 election season.
Deaton referenced the roles of others connected to the exchange. He questioned why some individuals had not faced the same level of legal examination. This formed part of a wider debate about responsibility across the corporate structure before the bankruptcy filing.
The chart from Bankman-Fried revived questions about how the exchange valued its assets at the time of failure. Legal analysts said real liquidity during the 2022 market downturn differed sharply from the modeled values used in the projection. They noted that several affiliated tokens lost steep value in a short period.
The renewed narrative has also raised interest among political observers, as Bankman-Fried’s earlier conviction continues to influence public debate. His online activity has increased since his post-trial appeals began. His recent claims have brought new attention to past financial records and internal asset assessments.
The debate has taken place during a period when the crypto sector has been reviewing past failures and examining the risks of rapid growth. The FTX case remains central to that discussion, as creditors continue to wait for the final status of asset recoveries.
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