SBF in a letter to FTX employees: I froze in front of the press

The disgraced FTX founder has apologized to his employees in a two-page letter sent to former colleagues, highlighting the collapse of his cryptocurrency conglomerate. He also mentioned the details of the guarantees and liabilities held by the group.

Connection An FTX employee in “His Family,” the SBF said he stiffened before the press and “lost the most important things in the commotion.”

“I didn’t mean for any of this to happen, and I’d give anything to go back and do it again. I was my family. I lost him, and our old house is an empty warehouse for the Watchers. When I turn around, there’s no one left to talk to.”

  • Although he did not directly address allegations that FTX lent customer money to its sister trading company — Alameda — to cover its debts, Bankman-Fried said he regretted his “failure to oversight.”
  • The former CEO also claimed that he “didn’t realize the full extent of the margin position” or “the extent of the danger posed by a hyper-correlation collapse”.
  • The SBF alleged there was potential interest in billions of dollars in financing minutes after it signed for Chapter 11 bankruptcy protection in the United States. He added that the remaining guarantees, as well as the benefits from other parties, could have been returned at a great value to customers and saved the business from total collapse.
  • Regarding buying assets from a troubled cryptocurrency exchange, Tron’s Justin Sun recently said that he is open to “any kind of deal” and that “all options” are on the table.
  • The letter comes after reports emerged that FTX Group, SBF, and his parents are investing heavily in real estate in the Bahamas.

The SBF post appeared in a letter to FTX staff: I froze in the face of pressure first on CryptoPotato.

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