After 2 days of silence, Sam Bankman-Fried, the CEO of FTX, wrote a long thread saying that he “screwed up” and that he was responsible for the various events that led to this. He assures us that user safety remains his priority and confirms that a fundraiser is trying to be organised for next week.
Sam Bankman-Fried speaks out after several tumultuous days
“I’m sorry. This is the most important thing. I screwed up, and I should have done better. It is in these words that Sam Bankman-Fried decided to break the ice.
Two days after his last tweet on 8 November about a potential takeover of FTX by Binance (he has since clarified that he suspected that Binance was not going to go through with the deal), “SBF” decided to give an update on the situation in a long Twitter thread, repeatedly insisting on his apology and sincerity.
Although he began his thread by admitting that he should have communicated more about the situation, the FTX CEO nevertheless revealed that his hands were “tied” during the period of the probable takeover of his platform and that he was not in a position to give any information about it at that time.
Confirming an earlier report, Sam Bankman-Fried announced that FTX.US, the US arm of the exchange, continues to operate normally. He also stated that FTX.US users are not at risk.
Regarding the funds deposited on the exchange, SBF reveals that no less than 5 billion dollars were withdrawn from FTX on Sunday alone, the largest amount of simultaneous withdrawals “by far”.
Users remain a priority for FTX
While we have very recently learned that Alameda Research, FTX’s investment company, was previously financially rescued by funds from various users misappropriated by the exchange, Sam Bankman-Fried assures us that users remain his priority.
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.
– SBF (@SBF_FTX) November 10, 2022
“Anyway, now my first priority – by far – is to do the right thing for the users. And I’m going to do everything I can to do that. Take responsibility, and do what I can. “
He also confirms what we revealed to you this afternoon, that a fundraiser would be held as early as next week to raise liquidity so that the platform’s customers can withdraw their funds.
I can’t promise anything about that. But I will try. And give everything I have to give if it will make things work. “
SBF further assures that the various investors and employees of the company are in no way responsible for the chaos of the last few days, and that he alone, as CEO, must take responsibility for the events.
Finally, and without quoting him directly, the FTX founder winks at Changpeng Zhao, the CEO of Binance, albeit soberly:
“We’re playing a good game,” he says.
“Well done, you won.”
