Share this page!

SBF Profile picture
Twitter logo
27 Jul, 5 tweets, 2 min read
1) A while ago, we promised to go carbon neutral.

We've now done that, and more.

ftx-climate.com
2) To start off with, we've donated $1m to purchase roughly 100k tons of carbon offsets, neutralizing the impact of our blockchain activity:

ftx-climate.com/offsets
3) But our commitment goes beyond that, because in the long run preventing deforestation can't be the full answer: there's only so much deforestation to prevent, and there's a lot more carbon usage than that.

So we're *also* funding research into other ways to help.
4) We're committing at least $1m to permanent carbon capture and storage:

ftx-climate.com/carbon-removal

and we've given about $500k to other research efforts aimed at mitigating climate change:

ftx-climate.com/research
5) Hopefully we can take another step towards a more sustainable world.

Huge thanks to everyone who helped put this together!

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with SBF

SBF Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @SBF_FTX

SBF Profile picture
25 Jul
1) An effective margin system is integral to an efficient economic system.

There are limits to everything, though.
2) We worked hard on our margin system at FTX: allowing users to cross-margin most assets on the platform.

It means needing to manage one wallet instead of hundreds; it also means massively fewer liquidations.
3) Any margin system needs to have liquidations as a backup, but the goal is to do so rarely.

At FTX, way less than a percent of volume comes from margin calls. This contrasts with a few platforms which are sometimes > 5%, and some which removed data because it looked bad.
Read 11 tweets
SBF Profile picture
20 Jul
1) I'm deeply humbled by the support we've gotten from our new partners:

forbes.com/sites/ninabamb…
2) @FTX_Official has closed ~$900m at a valuation of ~$18B.

@sequoia, @paradigm, @RibbitCapital, @thomabravo, @insightpartners, @SoftBank_Group, @ThirdPointLLC, @lightspeedvp, @bondcap, @coinbase, @sinoglobalcap, @multicoincap, @ptj_official, @vaneck_us, @circlepay, and more
3) I'll write more later about the raise, our, plans, and our vision, but for now:

onward!
Read 5 tweets
SBF Profile picture
16 Jul
1) Some thoughts on forum.sushi.com/t/sushi-phanto…
2) I'm not involved in the raise.

You can hear some of my thoughts here:

3) First of all, I think the process has been really messy.

I think doing a raise is a good idea.

But given the hassle likely involved from negative feedback, I might not follow through; I'm not sure this fight is worth fighting.
Read 11 tweets
SBF Profile picture
13 Jul
1) Why crypto exchanges make their data free

2) Traditional exchanges are, mostly, matching engines.

The rest of the infrastructure -- brokers, margin, risk, clearing, custody, GUIs, APIs, etc. -- fall on other companies in the pipeline.

When you buy a stock on @RobinhoodApp, ~10 different companies are involved.
3) In crypto, the norm is different.

Crypto exchanges are full stack products, building the entire experience.

When you buy a BTC on @FTX_Official, there are only 3 companies involved: the buyer, the seller, and the exchange.
Read 7 tweets
SBF Profile picture
10 Jul
1) Do you feel bullish?

theblockcrypto.com/linked/110950/…
2) Another thread about crypto companies going public; see:

IPOs:

BAKKT:

Coinbase: ; and later
3) Alright, so what's going on with Bullish?

Well really it's two different companies combined into one.

It's an exchange, and it's a pile of crypto.

About $6B of crypto and USD: businesswire.com/news/home/2021…
Read 17 tweets
SBF Profile picture
9 Jul
1) Why do we have to be so tribal?



Sometimes @elonmusk is wrong, sometimes he's right.

This time I think he's mostly right.
2) I mean, the reliance on DOGE is a bit odd--it's not exactly what I'd choose for a high-throughput L1.

But fundamentally, he's got a decent point here: trying to patch slow L1's with a fast L2 only sorta addresses the problems.
3) A few months ago, we applauded everything @elonmusk wrote, even when it was just memes.

Now we decry it, even when he's making a good point.
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @SBF_FTX has new unrolls!

Check out other threads from @SBF_FTX!

Read all threads by @SBF_FTX

:(