Sam Bankman Fried (SBF), CEO of crypto money exchange FTX, which stopped withdrawals due to the liquidity crisis he experienced, summarized the events and explained the mistakes that led them to this point.
The CEO made a statement on his social media account on November 10, as he could not make a statement for a long time. that you are sorry however, that he made public statements during the Binance deal. that it is forbidden stated. In addition, everything that happens is valid for FTX Global and FTX US continues to function normally. also added.
SBF, FTX Global higher market value of assets and collateral than customer deposits underlined that. On the other hand, the CEO stated that this situation is different from liquidity. The CEO reported that the events occurred as a result of a deviation in risk perception. SBF, therefore lower risk than it actually is He said he was calculating.
When faced with a total withdrawal request of close to $5 billion on Sunday indicates that liquidity is rapidly eroding. CEO, who said that this amount has encountered so far highest amount stated that.
Ultimately, all of these it’s your own responsibility Stating that they did their best to increase liquidity throughout the week, the CEO said that the rights of their customers first place for himself He said he was there but couldn’t promise anything.
Announcing that Alameda will no longer operate on FTX, one way or another, SBF said that no matter what scenario happens next, FTX’s top priority that there will be radical transparency also highlighted. In addition, all shareholders are concerned about FTX governance. will have more say and that he will not appear in public if he is not asked to stated.
Also, underlining that he has more to say about some of the other people operating in the sector, SBF stated that he would remain silent in order not to throw stones at glass houses. Good for an unidentified opponent played and won congratulated for. The CEO made a statement about his Binance purchase in a message he sent to his employees in the morning. Description of “Glass Houses” had used.
SBF acknowledges that all expressions used in its explanations technical or legal He also underlined that there is no second meaning and apologize to everyone ended.