FTX's current CEO, John J. Ray III, refuted Sam Bankman-Fried's claim that customers lost "zero" funds in the exchange's collapse in 2022, stating that these claims are absolute, ruthless, and clearly incorrect. In a victim impact statement written by Ray on behalf of FTX and its subsidiaries, Ray told New York District Court Judge Lewis Kaplan that SBF's claim that its exchange had the ability to pay was a "delusional" statement that was an "inaccurate description" of the January statement by the estate committee. Ray stated that when he took over, the exchange had almost no funds, with only 105 bitcoins remaining, while customers were entitled to nearly 100,000 bitcoins.