{"id":579682,"date":"2022-11-10T15:28:04","date_gmt":"2022-11-10T15:28:04","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=579682"},"modified":"2022-11-10T16:24:18","modified_gmt":"2022-11-10T16:24:18","slug":"ftx-ceo-breaks-silence","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ftx-ceo-breaks-silence\/","title":{"rendered":"FTX CEO Breaks Silence: I F*cked Up, I&#8217;m Sorry, FTX US Users Are Fine"},"content":{"rendered":"\n<p>Summary:<\/p>\n\n\n\n<ul>\n<li>Sam Bankman-Fried posted a 15-tweet thread apologizing to users and investors alike.<\/li>\n\n\n\n<li>The former crypto billionaire also claimed that FTX U.S. users are fine despite turbulence linked to the Bahamas-based parent exchange.<\/li>\n\n\n\n<li>Raising liquidity remains the priority, SBF tweeted amid financial uncertainty and bleeding market prices.<\/li>\n\n\n\n<li>Reports from Reuters and Wall Street Journal estimated a hole larger than $6 billion on the crypto exchange\u2019s balance sheet.<\/li>\n<\/ul>\n\n\n\n<p>FTX CEO Sam Bankman-Fried <a href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1590709166515310593\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/twitter.com\/SBF_FTX\/status\/1590709166515310593\" rel=\"noreferrer noopener nofollow\">tweeted <\/a>apologies to FTX users and an update to the crypto community as the crypto exchange sinks deeper into a liquidity crunch and withdrawals remain paused.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">1) I&#39;m sorry.  That&#39;s the biggest thing.<br><br>I fucked up, and should have done better.<\/p>&mdash; SBF (@SBF_FTX) <a href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1590709166515310593?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">November 10, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Withdrawal pressure mounted on the Bahamas-based exchange after Binance CEO Changpeng Zhao announced plans to unwind around $2.1 billion of FTT from its books.&nbsp;<\/p>\n\n\n\n<p>SBF\u2019s exchange experienced liquidity constraints and outflows increased drastically despite Sam\u2019s best efforts to downplay insolvency scares. Part of Thursday&#8217;s thread claimed that FTX U.S. Users pointed out that Sam tweeted similar claims before things tanked.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"und\" dir=\"ltr\">??? <a href=\"https:\/\/t.co\/3xkkA21Is9\" rel=\"nofollow\">pic.twitter.com\/3xkkA21Is9<\/a><\/p>&mdash; ZachXBT (@zachxbt) <a href=\"https:\/\/twitter.com\/zachxbt\/status\/1590713109903441921?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">November 10, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The thread also claimed that FTX international holds assets with a total market value greater than funds and tokens deposited by users. Again, this drew scrutiny since multiple sources reported the crypto exchange had a balance sheet hole bigger than $6 billion.&nbsp;<\/p>\n\n\n\n<p>Binance also dropped plans to bail out Sam\u2019s exchange after reviewing the books and assessing the liquidity crunch.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">[DB] SBF Told an Investor This Week That Alameda Owes FTX About $10 Billion: WSJ Source<br><br>FTX Lent Billions of Dollars Worth of Customer Assets to Fund Risky Bets by Alameda Research: WSJ Source<\/p>&mdash; db (@tier10k) <a href=\"https:\/\/twitter.com\/tier10k\/status\/1590727014926864384?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">November 10, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2>Bankman-Fried Needs Billions To Save FTX<\/h2>\n\n\n\n<p>SBF noted that raising funding and liquidity tops the to-do list while withdrawals on the crypto trading venue remain paused. Before turning to CZ, SBF called tried to raise between $1-$5 billion from Silicon Valley billionaires per reports.&nbsp;<\/p>\n\n\n\n<p>Tron founder Justin Sun <a href=\"https:\/\/en.ethereumworldnews.com\/justin-sun-tron-dao-1-billion-usdt\/\">said <\/a>progress towards a solution was <a href=\"https:\/\/en.ethereumworldnews.com\/justin-sun-hints-ftx-revival-solution\/\">underway<\/a> but the billionaire has shared little regarding the matter since.&nbsp;<\/p>\n\n\n\n<p>At press time, all eyes are seemingly on SBF, his crypto exchange, and its sister trading firm Alameda Research. Amid a sleuth of <a href=\"https:\/\/en.ethereumworldnews.com\/ftx-sec-l-securities-law-violation\/\">investigations<\/a> from the Securities and Exchange Commission (SEC) as well as the Justice Department, Tether started freezing FTX USDT in compliance with law enforcement probes.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">[DB] Tether Begins Freezing FTX USDT at the Request of Law Enforcement While Investigations Occur: Tether Exec<\/p>&mdash; db (@tier10k) <a href=\"https:\/\/twitter.com\/tier10k\/status\/1590713278447198209?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">November 10, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Summary: FTX CEO Sam Bankman-Fried tweeted apologies to FTX users and an update to the crypto community as the crypto exchange sinks deeper into a liquidity crunch and withdrawals remain paused.&nbsp; Withdrawal pressure mounted on the Bahamas-based exchange after Binance CEO Changpeng Zhao announced plans to unwind around $2.1 billion of FTT from its books.&nbsp; SBF\u2019s exchange experienced liquidity constraints and outflows increased drastically despite Sam\u2019s best efforts to downplay insolvency scares. Part of Thursday&#8217;s thread claimed that FTX U.S. [&hellip;]<\/p>\n","protected":false},"author":55,"featured_media":579688,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[947,2],"tags":[7704,108278,108361],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/579682"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=579682"}],"version-history":[{"count":4,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/579682\/revisions"}],"predecessor-version":[{"id":579692,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/579682\/revisions\/579692"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/579688"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=579682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=579682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=579682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}