FTX founder has apologised to former members of staff.
Sam Bankman-Fried offered a message of apology to all the ex staff members of the failed cryptocurrency for his part in its demise, which he attributes to a missing $8 billion.
The 30-year-old wrote in a letter published in CoinDesk: “I deeply regret my oversight failure. In retrospect, I wish that we had done many many things differently … I’m going to do what I can to make it up to you guys – and to the customers – even if that takes the rest of my life.”
Sam claimed the company was able to be saved via emergency funding but it arrived after he filed for bankruptcy.
He said: “We likely could have raised significant funding.Potential interest in billions of dollars of funding came in roughly eight minutes after I signed the chapter 11 docs. Between those funds, the billions of dollars of collateral the company still held, and the interest we’d received from other parties, I think that we probably could have returned large value to customers and saved the business.
“An extreme amount of coordinated pressure came, out of desperation, to file for bankruptcy for all of FTX – even entities that were solvent – and despite other jurisdictions’ claims … I reluctantly gave in to that pressure, even though I should have known better; I wish I had listened to those of you who saw and still see value in the platform, which was and is my belief as well.”
In the note, Sam repeated the assertion that FTX was a viable business with assets estimated at $60 billion versus $2 billion of liabilities.
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