SBF: There was too much leverage, a run on the bank and market crash exhausted liquidity

2022/11/16 03:36

Former FTX CEO Sam Bankman-Fried tweeted: “A few weeks ago, FTX was handling $10 billion/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. 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. But all I can do is to try. I've failed enough for the month. And part of me thinks I might get somewhere.”

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