FTX CEO Updates Crypto Community, Sunsets Alameda Trading, Mentions Certain ‘Sparring Partners’
On November 10, 2022, FTX CEO Sam Bankman-Fried (SBF) addressed the crypto community in a thread posted on Twitter. Pointing out that he failed, SBF said that he “should have done better” and at one point elaborated that “maybe he has more to say about certain sparring partners.”
SBF Says He Was Messed Up, Claims ‘Hands Tied During Possible Binance Trading’
Sam Bankman Freed (SBF) Discussed A few updates about FTX in an apology Twitter thread published Thursday. The FTX CEO said he “should have communicated more recently” and further claimed that “his hands were tied during a potential Binance trade.” , SBF claimed that the update only concerns FTX International and not FTX US, further emphasizing that “FTX US users are fine.”
“FTX International currently has a higher asset/collateral market value than customer deposits. It varies a lot from very little to very little,” SBF elaborated in his Twitter thread.
CEO of FTX Added:
The full story here is what I’m still fleshing out with all the details, but as a very high level, I failed twice. As a result, the user’s sense of margin was significantly off. I thought it would be lower.
FTX sees $5 billion withdrawal on Sunday, SBF shuts down Alameda Research Trading, Bankman-Fried talks about certain ‘sparring partners’
The SBF also said the rain turned into a downpour, confirming that $5 billion in withdrawals were processed on Sunday. He added that while he could not make any promises, the company “is spending the week doing everything it can to increase liquidity.”
“There are a lot of players we are talking about, LOIs, term sheets, etc.,” SBF said. “Let’s see how it goes,” he added. His CEO of FTX also informed the community that his quantitative trading platform, Alameda Research, is ending operations. “Alameda Research is scaling back deals,” SBF said. “They aren’t doing the weird things I see on Twitter, and they aren’t doing much at all. prize.”
While the thread was full of apologies and SBF had repeatedly said he had failed, the FTX CEO tweeted about a so-called sparring partner. You might have something to say,” said the FTX exec. For now all I can say is: well done. you won
according to report Two people familiar with the matter, released by Axios, said FTX tried to engage Kraken for relief funds. Additionally, Japan’s Financial Services Agency (FSA) has ordered FTX to cease operations immediately, citing the regulator’s desire to protect creditors and investors from harm.
What are your thoughts on the FTX CEO’s recent Twitter thread apologizing for his mistakes? Let us know what you think about this in the comments section below.
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FTX CEO Updates Crypto Community, Sunsets Alameda Trading, Mentions Certain ‘Sparring Partners’
Source link FTX CEO Updates Crypto Community, Sunsets Alameda Trading, Mentions Certain ‘Sparring Partners’
