'I]m sorry. That's the biggest thing. I fucked up, and should have done better.' Former FTX CEO Sam Bankman Fried - ftx binance
“1) I'm sorry. That's the biggest thing. I fucked up, and should have done better.
4) FTX International currently has a total market value of assets/collateral higher than client deposits . But that's different from liquidity for delivery--as you can tell from the state of withdrawals. The liquidity varies widely, from very to very little. 7) And so I was off twice. Which tells me a lot of things, both specifically and generally, that I was shit at. And a third time, in not communicating enough. I should have said more. I'm sorry--I was slammed with things to do and didn't give updates to you all.9) Anyway: right now, my #1 priority--by far--is doing right by users. And I'm going to do everything I can to do that. To take responsibility, and do what I can.
12) Every penny of that--and of the existing collateral--will go straight to users, unless or until we've done right by them. After that, investors--old and new--and employees who have fought for what's right for their career, and who weren't responsible for any of the fuck ups. 15) First, one way or another, Alameda Research is winding down trading. They aren't doing any of the weird things that I see on Twitter--and nothing large at all. And one way or another, soon they won't be trading on FTX anymore.
18) But all of that isn't what matters right now--what matters right now is trying to do right by customers. That's it.
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