New Letter Reveals SBF Froze Up In Pressure

November 23, 2022

FTX Chief Sam Bankman-Fried apologized to his employees for the crypto exchange's failure.

He froze up in the face of pressure as his company collapsed, SBF said in a new letter to employees

FTX chief also said a crypto market crash and other factors slashed collateral to $9 billion.

He felt deeply sorry about what happened and what that meant for the company's employees, SBF also wrote in his letter.

FTX Chief did not address allegations levelled by FTX diverted customer and SBF's Alameda Research

Alameda had an exemption from FTX's normal liquidation process or statements that Alameda had loaned funds to FTX officials including himself.

"I didn't mean for any of this to happen and would give anything to be able to go back and do things over again. You were my family", SBF said in his recent letter.