Crypto billionaire Sam Bankman-Fried, CEO of FTX, said that he is ‘sorry’ as he shuts down Alameda Research, the trading house as he seeks last-ditch financing to save his troubled crypto exchange FTX.com.
Bankman-Fried told investors that FTX may have to seek bankruptcy if it doesn’t get a rescue, announced the move in a series of tweets on Thursday, adding that FTX is “spending the week doing everything we can to raise liquidity.”
” I’m sorry. That’s the biggest thing. I fucked up, and should have done better,” FTX CEO tweeted.
On Tuesday, Zhao and Bankman-Fried both took to Twitter to reveal that they’d reached a tentative deal for Binance to buy FTX. A day later, Zhao pulled out.
” First, one way or another, Alameda Research is winding down trading. They aren’t doing any of the weird things that I see on Twitter–and nothing large at all. And one way or another, soon they won’t be trading on FTX anymore,” he tweeted.
He said that if which FTX continues operating, its first priority will be transparency.
“Second, in any scenario in which FTX continues operating, its first priority will be radical transparency–transparency it probably always should have been giving. Giving as close to on-chain transparency as it can: so that people know *exactly* what is happening on it,” he said.
“All of the stakeholders would have a hard look at FTX governance. I will not be around if I’m not wanted. All of the stakeholders–investors, regulators, users–would have a large part to play in how it would be run. Solely trust,” he added.
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