Sam Bankman-Fried, the disgraced founder and former CEO of FTX, continues to prostrate himself on social media – admitting he has made a huge mess of things. Bankman-Fried, while expressing his contrition, continues to believe he may be able to re-animate the collapsed firm.
New FTX CEO John Ray has responded via the FTX Twitter account, throwing cold water on Bankman-Fried’s claims.
(1/3) Statement from John Ray, Chief Restructuring Officer and CEO of @FTX_Official, regarding Mr. Bankman-Fried’s recent public statements:
— FTX (@FTX_Official) November 16, 2022
Yesterday, Bankman-Fried stated via Twitter:
“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.”
Adding in another Tweet:
“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.”
Bankman-Fried also admitted he became overconfident and careless. A comment that may soon be deemed an understatement.
Ray stated that, as previously announced, Bankman-Fried has resigned from FTX, FTX.US, and Alameda research, as well as the directly and indirectly held firms. Due to this fact, Bankman-Fried has no official role at these firms and “does not speak on their behalf.”
Meanwhile, there have been reports that criminal charges may soon emerge due to the allegations of fraud which may have caused the collapse of FTX and affiliated firms.