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SBF
@SBF_FTX
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@SBF_FTX
11) There are a number of players who we are in talks with, LOIs, term sheets, etc. We'll see how that ends up.
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SBF
@SBF_FTX
12) Every penny of that--and of the existing collateral--will go straight to users, unless or until we've done right by them. After that, investors--old and new--and employees who have fought for what's right for their career, and who weren't responsible for any of the fuck ups.
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SBF
@SBF_FTX
13) Because at the end of the day, I was CEO, which means that *I* was responsible for making sure that things went well. *I*, ultimately, should have been on top of everything. I clearly failed in that. I'm sorry.
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SBF
@SBF_FTX
14) So, what does this mean going forward? I'm not sure--that depends on what happens over the next week. But here are some things I know.
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SBF
@SBF_FTX
15) First, one way or another, Alameda Research is winding down trading. They aren't doing any of the weird things that I see on Twitter--and nothing large at all. And one way or another, soon they won't be trading on FTX anymore.
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SBF
@SBF_FTX
16) Second, in any scenario in which FTX continues operating, its first priority will be radical transparency--transparency it probably always should have been giving. Giving as close to on-chain transparency as it can: so that people know *exactly* what is happening on it.
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SBF
@SBF_FTX
17) All of the stakeholders would have a hard look at FTX governance. I will not be around if I'm not wanted. All of the stakeholders--investors, regulators, users--would have a large part to play in how it would be run. Solely trust.
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@SBF_FTX
18) But all of that isn't what matters right now--what matters right now is trying to do right by customers. That's it.
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SBF
@SBF_FTX
19) A few other assorted comments: This was about FTX International. FTX US, the US based exchange that accepts Americans, was not financially impacted by this shitshow. It's 100% liquid. Every user could fully withdraw (modulo gas fees etc). Updates on its future coming.
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@SBF_FTX
20) At some point I might 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: well played; you won.
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SBF
@SBF_FTX
Replying to
@SBF_FTX
22) And, finally: I sincerely apologize. We'll keep sharing updates as we have them.
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NFT profile picture
Franklin has 60 apes
@franklinisbored
Replying to
@SBF_FTX
In case of an investigation by any federal entity or similar, I do not have any involvement with this group or with the people in it, I do not know how I am here, probably added by a thrid party, I do not support any actions by the member of this group.
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