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.

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.

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