“I was wrong, the leverage was 13 billion dollars, not 5 billion”

"I was wrong, the leverage was 13 billion dollars, not 5 billion"

Sam Bankman-Fried, former CEO of FTX, said he was wrong about the stock market’s leverage before the crash. SBF stated that leverage was about $13 billion, not $5 billion.

In a Twitter post thread shared on November 16, Bankman-Fried stated that FTX’s leverage has risen to nearly $5 billion, backed by assets of $20 billion in value as well as risk potential. According to the company’s former CEO, the asset exit and crypto market crash resulted in the withdrawal of 25 percent of consumer assets, or about $4 billion daily.

Bankman-Fried said, “I was wrong. Leverage wasn’t $5 billion, it was $13 billion. The $13 billion leverage, the total collapse in the asset value of the banks’ outflow, all happened at the same time. That’s why this leverage is not wanted.”

After the crash in FTX, regulators in the Bahamas, the US and Turkey launched an investigation into the stock market. It was also reported that officials were discussing the extradition of Bankman-Fried from the Bahamas to the United States for questioning. This reported return was heard from the SBF at a hearing held in December by lawmakers on the House Financial Services Committee. [beklediklerini]It’s unclear whether that’s related to what they said.

FTX Group filed for bankruptcy under Article 11 on November 11. The bankruptcy filing involves more than 130 companies, including FTX Trading, FTX US and Alameda Research. The exchange is thought to be liable to more than 1 million creditors, according to subsequent filings in bankruptcy court.

Soruce : https://tr.cointelegraph.com/news/sam-bankman-fried-updates-investors-we-got-overconfident-and-careless-claims-13b-leverage

Leave a comment

SMM Panel PDF Kitap indir