Nov 12, 2022
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Comments Off on Just Yesterday, in his “big“ apology, Sam Bankman-Fried was saying that FTX US is “100% liquid“ and now even they filed for bankruptcy. Even in his last hours that person was lying to us…
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Just Yesterday, in his “big“ apology, Sam Bankman-Fried was saying that FTX US is “100% liquid“ and now even they filed for bankruptcy. Even in his last hours that person was lying to us…

Written by pinmin


We all saw Sam Bankman-Frieds big apology yesterday that was nothing but just show in his last hours of office as he today resigned as CEO and FTX filed for Chapter 11 bankruptcy. More importantly in his series of tweets discussing how the collapse happened (according to him they did not have enough liquidity to make the very-high withdrawals on Sunday, but in reality the problem is way bigger), he also mentioned there that FTX US would not have any problems and according to him be: “100% liquid“

Yesterdays apology by SBF

It just took about a day for him to make another apology now and also for FTX US to file for Chapter 11 and I do not think that this “100%“ liquidity was erased in one day.

Its clear now that even in his last hours of office (and he probably already knew yesterday that they have no rescue available) he was doing nothing else than lie to his customers, not giving them the needed warning so at least they could try to withdraw if he really had 100% liquidity.

Now his second apology is just as dumb and probably just as full of lies. Saying that he now hopes to bring “transperancy“ to the users help them trust. Sorry, but there should be no one trusting FTX again.

Second apology by SBF today after filing for Chapter 11 Bankruptcy

submitted by /u/partymsl
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