SBF undertakes to radical transparency because FTX is looking for investment capital

SBF undertakes to radical transparency because FTX is looking for investment capital

ftx will spend the next week in search of liquidity, said the company founder on Thursday morning in a Twitter thread and promised "radical transparency" because his company is in a serious emergency and needs a capital supply.

Sam Bankman-Fried said there were a number of players with whom the stock exchange was in conversations, and added that there were declarations of intent and term sheets.

"We'll see how it ends," he wrote. "Every penny of it-and the existing collateral-will go directly to the users unless, or until we have treated them correctly," said Sam Bankman-Fried.

Binance withdrew from his earlier promise and tweeted on Wednesday afternoon that it would not strive for FTX.

The decision of Binance was "the result of the company's diligence and the latest news reports on misused customer funds and presumed investigations by the US authority".

Bitcoin fell under $ 16,000 yesterday, but recovered on Wednesday at 10:00 a.m.

The intended deal should not include FTX's US division, and Bankman-Fried found in his Twitter update on Thursday that FTX US is 100 % liquid.

Bankman-Fried said that he could not communicate much with Binance during the upcoming potential deals, but added to Twitter on Thursday that a bad internal labeling of bank-related accounts meant that the margin was higher than expected.

Bankman-Fried added in the thread that Alameda Research, a company he founded with digital Assets and risk capital, "hiring the trade" and will soon no longer act on FTX.

He also noted that investors, supervisory authorities and users would take a close look at the FTX government.

"But all of this is not what matters," he said. "What counts now is the attempt to do the right thing for customers."

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The SBF contribution is committed to "radical transparency" because FTX is looking for investment capital is not a financial advice.