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News

SBF: Our First Priority Is To Protect Customers

November 9, 2022 - Around 1 mins mins to read
Following the event that Binance and FTX had come to an agreement to buy back, Sam Bankman-Fried (SBF) apologized to investors and clarified the exchange’s order of priority when the incident occurred.
SBF: Our First Priority Is To Protect Customers

In the letter from the owner of crypto exchange FTX to investors, SBF confirmed to have signed “a nonbinding agreement with Binance to buy FTX.” The incident is repeated as well as the decision to be made by the CEO in the near future.

Banmank-Fried jointly stated that the company’s priority is protecting “customers and the industry” and “soon be focusing on our second priority: our shareholders.”

Earlier, SBF sent a message to FTX staff confirming that the exchange saw $6 billion in withdrawals in 72 hours.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Binance

FTX

Sam Bankman-Fried

SBF

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

SBF: Our First Priority Is To Protect Customers

Following the event that Binance and FTX had come to an agreement to buy back, Sam Bankman-Fried (SBF) apologized to investors and clarified the exchange’s order of priority when the incident occurred.
SBF: Our First Priority Is To Protect Customers

In the letter from the owner of crypto exchange FTX to investors, SBF confirmed to have signed “a nonbinding agreement with Binance to buy FTX.” The incident is repeated as well as the decision to be made by the CEO in the near future.

Banmank-Fried jointly stated that the company’s priority is protecting “customers and the industry” and “soon be focusing on our second priority: our shareholders.”

Earlier, SBF sent a message to FTX staff confirming that the exchange saw $6 billion in withdrawals in 72 hours.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News