1) Hi all:
Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US.
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2) I'm really sorry, again, that we ended up here.
Hopefully things can find a way to recover. Hopefully this can bring some amount of transparency, trust, and governance to them.
Ultimately hopefully it can be better for customers.
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3) This doesn't necessarily have to mean the end for the companies or their ability to provide value and funds to their customers chiefly, and can be consistent with other routes.
Ultimately I'm optimistic that Mr. Ray and others can help provide whatever is best.
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I just attempted to pay my electric bill with your apology and unfortunately they said I have to pay with fiat or my lights get turned off.
Perhaps you could have told customers you were gambling their deposits without their consent
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Hopefully ultimately, you can learn how to hopefully communicate in a way the ultimately makes sense.. hopefully
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Transparency, trust, and governance do not magically appear, they are not found in nature. These are institutions BUILT by people and come at significant COST. Recovery is not “found.” It requires WORK that is now many fold harder because of your hubris.
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