“Sorry I Should Have Done Better”
FTX CEO Sam Bankman Fried broke his silence. The CEO, who shared a long flood on Twitter, expressed his regret for the situation. Stating that FTX’s total assets cover customer funds, SBF stated that liquidity is a different situation. The highlights of SBF’s sharing are as follows:
“Sorry, I should have done better.
FTX International currently has a higher asset/collateral market capitalization than customer deposits. However, this is different from liquidity, as you can understand from the withdrawal situation.
We saw roughly $5 billion in withdrawals on Sunday, which was way above schedule.
Currently, we are doing everything we can to increase liquidity.
I can’t make any promises on this. But I will try.
There are a few players we’ve met.
Coins from existing collateral will go directly to users.
Alameda Research is ending trading. Soon they will no longer trade on FTX.
This was about FTX International. US-based stock exchange FTX US, which accepts Americans, was not financially affected by this crap show. It is 100% liquid. Every user can withdraw his money completely.”
At the end of his speech, SBF implicitly referred to the CEO of Binance and said, “You played well and you won.” Here is the full statement from the SBF:
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