SBF Profile picture
4 May, 6 tweets, 1 min read
1) For the first time, FTX is spending nontrivial amounts of money on branding. Why?
2) Well, first, why haven't we?

Because our core userbase doesn't really care.

Our core userbase has been, basically, you all who are reading this tweet.

And if you're reading this tweet, you already know way more about FTX than our brand will convey.
3) But there are a lot of other people in the world--people who haven't heard of most crypto exchanges.

And they've been bombarded for years with ads for a few high profile retail applications.

And those people are increasingly getting into crypto.
4) So, for the core users and growth we've been seeing, none of this matters.

But there are _other_ growth opportunities too.

We've spent the last two years building the best product we can--a product we're proud of, warts and all.
5) A product we'll never stop pushing forward, but one which we already think adds something real to the status quo.

And so we'd like everyone to think about FTX, and Blockfolio, and give them a shot.
6) And if they like another product better, then that's not the fault of our branding--that's the fault of our building, and we have to fix our shit.

But we feel pretty good about our odds.

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More from @SBF_Alameda

3 May
1) A while ago I wrote up some thoughts on VCs:

Here are some updates:
2) One really refreshing change over the last decade has been the transition to "founder-friendly" VCs.

What does this mean, and why did it happen?
3) What it means, roughly, is VCs seeing themselves as helping and supporting the companies, not running them; and terms/etc. starting to reflect that.
Read 14 tweets
22 Apr
1) Can momentum exist?
3) yes, it can
Read 24 tweets
19 Apr
1) A Tale of Two Crashes:

Coinbase, FTX, and the future of crypto.
2) Just over a year ago, crypto had its worst day ever.

BTC crashed roughly $4500 top to bottom, from $8k to $3500, stabilizing just over $5k.
3) And the industry almost ended, maybe.

Read 25 tweets
18 Apr
1) Some FTX facts today:

a) I don't think we had any downtime, which was great! And markets were decently liquid all things considered.

b) Withdrawals are ~1 hour backlogged, sorry -- we have ratelimts on #/sec to process, we'll take those up. (also, you know, gas.)
2) c) FTX has never clawed back anyone from liquidations of others.

We have, once in a while, ADL'ed, though those fills are at market or better.

But we never want to do that.

So we've jacked up BLP capacity to prevent it in the future.
3) And for anyone who got ADL'ed, today, we've just compensated your accounts with USD:

--if the ADL was good marked to now, you kept it
--if the ADL was bad marked to now, you got USD equal to the difference in market prices
Read 5 tweets
16 Apr
1) Some thoughts on BNB's most recent burn:


lots of approximations here
3) Based on the original specs, BNB was going to burn 20% of profit.

Based on this update (…), it's now unclear what they'll burn, but maybe something like: 80% of profit (up to 100m tokens, and nothing after that)
Read 5 tweets
8 Apr

(Sorry for the deleted thread -- had a key typo at the start...)
3) People constantly want higher ratelimits.

But not all orders are the same.

The core metric here: $ volume per order sent. In other words, how efficient are your orders?
Read 8 tweets

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