Cryptocurrency News
Sam Bankman-Fried apologizes for FTX liquidity crisis: ‘I fucked up twice’
Sam Bankman-Fried apologizes for FTX liquidity crisis: ‘I fucked up twice’
In one of his first public statements since rumors and concerns about FTX’s insolvency flooded the crypto market, CEO Sam Bankman-Fried, or SBF, has said: “I’m sorry.”
In a Nov. 10 Twitter thread, SBF admitted to investors he “should have done better” in providing transparency on the situation with FTX. The CEO reported that the exchange was experiencing a “liquidity crunch” caused by user withdrawals and requested financial assistance from Binance — a potential deal that later fell apart.
