The one that rocked the entire cryptocurrency market FTX events remain on the agenda. Sam Bankman-Fried, founder and CEO of FTX, broke his silence on what happened today after Binance gave up buying the crashing stock market.

The 30-year-old well-known entrepreneur posted a long post on Twitter. Bankman-Fried blamed himself for the financial problems and subsequent collapse at FTX. crypto billionaire,I ruined it, çOkay, I should have done better. Besides, I should have been much more active these days.” In the post that he started with his statement, he talked extensively about what has happened in recent days. All statements were as follows;

Here is the full statement from the CEO of FTX

“I am sad. That’s the biggest. I blew it and should have done better.

I should have contacted earlier too. Frankly, my hands were tied during the potential Binance deal; In particular, I was not allowed to make any public statements. But of course it’s my fault we were there in the first place

Here’s an update on where things are.

[BUNLARIN HEPSİ FTX INTERNATIONAL, ABD DIŞINDAKİ BORSA İLE İLGİLİDİR. FTX ABD KULLANICILARI İYİ DURUMDA! TÜM BU SAYILARA KABA OLARAK BAKIN. BURADA YAKLAŞIMLAR VAR.]

FTX International currently has a higher asset/collateral market cap than customer deposits (movements with prices!). However, this is different from liquidity for delivery, as you can see from the withdrawal situation. Liquidity varies widely, from very little to very small.

The full story here is one that I’m still trying to decipher every detail of, but being very high level, I screwed up twice. For the first time, poor internal labeling of bank-related accounts meant I was largely on user margin. I thought it was much lower.

I felt rather:

Leverage: 0x
Available Liquidity in USD: 24x Average Daily Withdrawals

For real:

Leverage: 1.7x Available Liquidity in USD: 0.8x Withdrawals on Sunday

Because when it rains, of course it just rains (an idiom for accidents). We saw about $5 billion in withdrawals on Sunday, it was by far the largest.

So I was wrong twice. That tells me a lot of things I’m bad at, both privately and in general. My third stumbling block is not communicating well enough. I should have said more. Sorry I ran into things I had to do and I couldn’t give you all the information.

That’s how we got to where we are now. It’s a bad situation and it’s my fault. I am sad.

Anyway, my number one priority right now is to do it right for users. I will do everything in my power for this, I will take my responsibility.

We are currently doing everything we can to increase liquidity throughout the week. I can’t promise anything about this, but I’ll try. If it works, I’ll give it all I’ve got.

There are various parties that we negotiate, such as LOIs, period cards. We’ll see how that plays out.

Every cent of this and current coverage will be given to users until they or we do the right thing, or even if they don’t. After that, it will be given to investors – old or new – and employees who fight for what is right in their careers and are not responsible for anything.

Because at the end of the day, I was the CEO, so I was responsible for keeping things running smoothly. I had to be on top of everything. I clearly failed in this. I am sad.

So what does this mean for the future? I am not sure about that. That depends on what happens next week. But here are some things I know.

First, Alameda Research is ending trading somehow. They don’t do any of the weird things I see on Twitter, and they’re not bad at all. Somehow they will soon stop trading on FTX.

Second, in any scenario where FTX continues to operate, the first priority will be radical transparency — the transparency it probably should always provide. As close as possible to on-chain transparency, so that people know exactly what is happening on-chain.

All stakeholders will have a hard look at FTX management. I won’t be there if I’m not asked. All stakeholders – investors, regulators, users – will play a big role in how it is managed. Just trust.

But that’s not what matters now – what matters now is trying to do what’s right for customers. This much.

A few more notes:

This was about FTX International. The US-based exchange FTX US, which accepts Americans, was not financially affected by this crappy show. It is 100% liquid. Any user can withdraw completely (modulo gas costs, etc.). There will be updates about the future.

At some point I may have more to say about a partner with whom we have, as it were, a certain exchange of views. But you know, we are the center of criticism. So for now I’m just saying: you played well; you won.”

For what’s been happening with FTX lately;