Sam Bankman-Fried says he is ‘deeply sorry’ for collapse in letter to FTX team
SBF’s letter to former FTX employees painted the picture of a deeply remorseful founder who managed to squander billions because of excessive margins and poor oversight. He also blamed the “run on the bank” for FTX’s ultimate demise. For those of you keeping track, the bank run that SBF mentioned was triggered by Binance CEO Changpeng Zhao who, on Nov. 6, disclosed on Twitter — of all places — that he would be selling $500 million worth of FTX tokens. That announcement triggered a tidal wave ...
Sam Bankman-Fried says he is ‘deeply sorry’ for collapse in letter to FTX team
SBF’s letter to former FTX employees painted the picture of a deeply remorseful founder who managed to squander billions because of excessive margins and poor oversight. He also blamed the “run on the bank” for FTX’s ultimate demise. For those of you keeping track, the bank run that SBF mentioned was triggered by Binance CEO Changpeng Zhao who, on Nov. 6, disclosed on Twitter — of all places — that he would be selling $500 million worth of FTX tokens. That announcement triggered a tidal wave ...
