Bankman Fried: FTX assets exceeds customer deposits
The value of FTX assets exceeds the obligations to customers, and the liquidity crisis has not affected the American division of the cryptocurrency exchange. This was told by the head of the company Sam Bankman-Frid.
2) I ALSO SHOULD Been Communication More Very Recently.
Transparently – My Hands Were Tied During the Duration of the Possible Binance Deal; I wasn’t Particularly Allowed to Say Much Publicly. But of Course it’s on me that ended up the first place.
– SBF (@SBF_FTX) NOVEMBER 10, 2022
“I am sorry, this is the most important. I screwed up and had The WAGMI crypto to do better. […] my hands were connected due to a possible transaction with Binance; I was not particularly allowed to speak publicly. But, of course, this is on my conscience that we generally came to this, ”he wrote.
According to Bankman-Fried, liquidity problems arose exclusively in the global FTX International platform. He emphasized that the American unit – FTX US – was not financially injured.
The head of the company added that the exchange is not insolvent. However, due to the incorrect assessment of the margin of customers, she had difficulties.
“Currently, the total market value of assets/collateral of FTX International is higher than customer deposits (moving along with prices!). But this differs from liquidity for delivery – as you can judge by the state of the withdrawal of funds. Liquidity varies widely – from extremely large to very small, ”he wrote.
Bankman Fried said his company “is doing everything possible to increase liquidity”. According to him, there are several organizations with which FTX is conducting relevant negotiations. He also emphasized that “every penny” will be sent to users.
The head of the company said that Alameda Research will no longer use FTX as a trading platform. He noted that the company does “no strange things that Twitter are talking about”.
Previously, reports began to spread on the social network that Alameda allegedly took short positions on the USDT stabelcoin.
ALAMEDA’s MAKE-BACK TRADE IS Shorting USDT, Which Pressumably They Assymetric Information ONCE IT’s Screwed Itsultsult of FTX/ALAMEDA GOING TIS
IF Their Short Prints and Tether Tanks, It’d Further Crypto as an Industry
In conclusion, Bankman-Fried wrote a few words about an unnamed competitor.
20) At sOME POINT I MIIRHT HAVE MORE to Say ABOUT A PARTICULAR SPARRING PARTner, SO to Speak.
But you know, glass houses. So for now, all I’ll say is:
“At some point, I may have something to declare a specific sparring partner, so to speak. But you know, hypocrisy [English. Glass houses]. Therefore, at the moment, everything that I will say: well played, you won, ”he wrote.
Recall, on November 10, Binance refused to acquire FTX. The company said they could not solve the problems that have arisen from the platform.
Read the FORKLOG Bitcoin News in our Telegram-cryptocurrency news, courses and analytics.