Former FTX CEO Sam Bankman-Fried continues to talk about his old exchange in a recent series of tweets.

Sam Bankman-Fried claimed that “too much leverage” and a run on the bank’s scenario were to blame for FTX’s demise in the most recent updates.

He also commented that his fundraising attempt would probably fail, and all he had to do was try.

The exchange that collapsed last week has been locked down in many parts of the world, its subsidiaries are having a hard time with the authorities. Sam Bankman-Fried is also being targeted by lawmakers in the US.

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.

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Website: coincu.com

Harold

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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.

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News

Sam Bankman-Fried Says FTX Is Overly Leveraged More Than He Realized

Former FTX CEO Sam Bankman-Fried continues to talk about his old exchange in a recent series of tweets.

Sam Bankman-Fried claimed that “too much leverage” and a run on the bank’s scenario were to blame for FTX’s demise in the most recent updates.

15) A few weeks ago, FTX was handling ~$10b/day of volume and billions of transfers.

But there was too much leverage–more than I realized. A run on the bank and market crash exhausted liquidity.

So what can I try to do? Raise liquidity, make customers whole, and restart.

— SBF (@SBF_FTX) November 16, 2022

He also commented that his fundraising attempt would probably fail, and all he had to do was try.

16) Maybe I'll fail. Maybe I won't get anything more for customers than what's already there.

I've certainly failed before. You all know that now, all too well.

But all I can do is to try. I've failed enough for the month.

And part of me thinks I might get somewhere.

— SBF (@SBF_FTX) November 16, 2022

The exchange that collapsed last week has been locked down in many parts of the world, its subsidiaries are having a hard time with the authorities. Sam Bankman-Fried is also being targeted by lawmakers in the US.

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

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