Crypto boss asks rivals for $1 billion after company collapses and tells Twitter followers 'I am sorry'

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Cryptocurrency exchange FTX is now being investigating for potential security violations after the company's swift downfall.

abc.net.au/news/ftx-crypto-collapse-sam-bankman-fried/101641992The chief executive of cryptocurrency exchange FTX has taken to social media to say he was at fault after revealing the company's swift and sudden downfall.

However, it was not clear whether he would be able to raise the funds he needed and whether those investors would participate. Mr Bankman-Fried said in tweets and a memo to employees seen by Reuters that he was in talks with "a number of players" in the crypto sector, including Mr Sun, after a potential rescue deal with larger rival Binance fell apart.He also said his trading firm, Alameda Research — which sources have said was partly behind FTX's problems — was winding down trading.Sam Bankman-Fried says he will step down if necessary.

"The first time, a poor internal labelling of bank-related accounts meant that I was substantially off on my sense of users' margin. I thought it was way lower."

 

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Yes what a great short. The glass is always full if you trade it right.

For clarity, this was an exchange that was holding people’s money and they misused it. This is like ComSec selling your shares and spending the money. The fact it was “crypto” is somewhat irrelevant. Crypto isn’t the scam, centralised exchanges are.

Buy STC shitcoin and you will be rich 2 years

Meanwhile alts mooned today. Heavily up. WAGMI frens

You're about 2 days late with that news. 🤣

'Man! My bank is fried. --- Bankman-Fried

Another scam just like NFT. Crypto was always a con

So, guess they'd be happy to get that 28% back now. Eggs/baskets..... y'know.

anthonypesec Who could have seen this coming? 🤷‍♂️

Why would you give an almost billionaire a billion? Are there no other worthy people left in the world

ponzi scheme

Meh to bad

Cryptocurrency is the biggest online gambling in the world

I speculated on crypto by not getting any. So far I’m doing better than most.

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