Conversation

1) Some FTX facts today: a) I don't think we had any downtime, which was great! And markets were decently liquid all things considered. b) Withdrawals are ~1 hour backlogged, sorry -- we have ratelimts on #/sec to process, we'll take those up. (also, you know, gas.)

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1,314

SBF

@SBF_FTX

Apr 18, 2021

2) c) FTX has never clawed back anyone from liquidations of others. We have, once in a while, ADL'ed, though those fills are at market or better. But we never want to do that. So we've jacked up BLP capacity to prevent it in the future.

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SBF

@SBF_FTX

Apr 18, 2021

3) And for anyone who got ADL'ed, today, we've just compensated your accounts with USD: --if the ADL was good marked to now, you kept it --if the ADL was bad marked to now, you got USD equal to the difference in market prices

204

SBF

@SBF_FTX

4) d) I think this was another all-time record volume day, at $26B. We had about $250m of liquidations today -- maybe our all-time high, but about 10-20% of other exchanges'. Interestingly, we had closer to 50/50 long/short liqs than most!