🚨 BREAKING: Sam Bankman-Fried has apologized to FTX customers, revealed the exchange's next steps, confirmed Alameda Research will wind down trading, and says he will resign 'if I'm not wanted'
He insisted FTX International "currently has a total market value of assets/collateral higher than client deposits" — but this is different from liquidity.
"When it rains, it pours. We saw roughly $5 billion of withdrawals on Sunday — the largest by a huge margin." "I can't make any promises about that. But I'm going to try. And give anything I have to if that will make it work." "After that, investors — old and new — and employees who have fought for what's right for their career, and who weren't responsible for any of the f*** ups. Because at the end of the day, I was CEO, which means that *I* was responsible for making sure that things went well. *I*, ultimately, should have been on top of everything. I clearly failed in that. I'm sorry."
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