SBF Profile picture
SBF
bottomisin Profile picture Leo Profile picture Chris Payan Profile picture tasteful Profile picture Jessymogan Profile picture 190 added to My Authors
Nov 14, 2022 32 tweets 4 min read
1) What 2) H
Nov 11, 2022 5 tweets 1 min read
1) Hi all:

Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US. 2) I'm really sorry, again, that we ended up here.

Hopefully things can find a way to recover. Hopefully this can bring some amount of transparency, trust, and governance to them.

Ultimately hopefully it can be better for customers.
Nov 10, 2022 22 tweets 3 min read
1) I'm sorry. That's the biggest thing.

I fucked up, and should have done better. 2) I also should have been communicating more very recently.

Transparently--my hands were tied during the duration of the possible Binance deal; I wasn't particularly allowed to say much publicly. But of course it's on me that we ended up there in the first place.
Nov 8, 2022 6 tweets 2 min read
1) Hey all: I have a few announcements to make.

Things have come full circle, and FTX.com’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for https://t.co/DWPOotRHcX (pending DD etc.). 2) Our teams are working on clearing out the withdrawal backlog as is. This will clear out liquidity crunches; all assets will be covered 1:1. This is one of the main reasons we’ve asked Binance to come in. It may take a bit to settle etc. -- we apologize for that.
Nov 6, 2022 5 tweets 1 min read
1) A huge thank you to everyone who has supported us--we're excited to keep climbing together.

And especially to those who stay level headed during crazy times. We deeply appreciate it. 2) A bunch of unfounded rumors have been circulating. You can see .

FTX keeps audited financials etc. And, though it slows us down sometimes on product, we're highly regulated.
Nov 6, 2022 5 tweets 1 min read
1) Posting about what everything wants to know more about:

SEND! 2) Seriously SEND is awesome.

It's the omni box for money (soon we'll merge blockchain into the same box!)

Right now, sending money internationally is a pain in the ass. People are paying 10's of percent's, waiting weeks, and hoping that it lands.

Crypto can do better.
Nov 5, 2022 5 tweets 1 min read
1) I was a significant donor in both D and R primaries.

Supporting constructive candidates across the aisle to prevent pandemics and bring a bipartisan climate to DC.

And working with them to support permissionless finance. 2) As part of this, @rsalame7926 and I signed up campaigns to accept crypto; and gave some, including millions to Senate & House Republicans.
Nov 4, 2022 6 tweets 2 min read
1) Alright alright, Coinbase 2022Q3 earnings:

s27.q4cdn.com/397450999/file…

previous: 2) Overall, bear markets suck for retail.

Coinbase's revenue, and volume, were down a fair bit; their retail volume in particular was down ~45% quarterly.

(The flip side--lots of growth potential in the next bull market!)
Oct 29, 2022 25 tweets 5 min read
1) Meta Mark 2) OK FINALLY A NEW TOPIC

not, uh, meta advice?
Oct 29, 2022 20 tweets 3 min read
1) Advising 2) NOT ADVICE
Oct 29, 2022 7 tweets 2 min read
1) My *final* thoughts/post on this: 2) NOT ADVICE
Oct 23, 2022 17 tweets 2 min read
1) Phishing sucks 2) NOT FINANCIAL ADVICE
Oct 23, 2022 19 tweets 4 min read
1) Whelp, that was an interesting few days.

A retrospective. 2) NOT LEGAL, REGULATORY, OR FINANCIAL ADVICE

THOUGH MAYBE A LITTLE BIT OF SPECTACLE ADVICE AT THE END

Also: note that most of the below is about the *US* policy landscape. Other countries may differ.
Oct 23, 2022 4 tweets 1 min read
1) Binance converts USDC --> BUSD, and we see the change in supplies.

Thus begins the Second Great Stablecoin War. (The first one, fought in ~2018, ended with USDC and USDT edging out TUSD/GUSD/USDP.) 2) What's different this time is:

a) positive interest rates --> more revenue for stablecoins

b) by now they've all learned the core lesson: NEVER EVER BLOCK REDEMPTIONS or your stablecoin will no longer be stable
Oct 20, 2022 6 tweets 3 min read
3) Speaking of that, a new Markets tab on the left hand side is on the Beta UI; and a fully live new header on ftx.com/wallet: ImageImage 4) We rolled out a feature last night that should take potential throughput on the exchange up by 20%+!

A huge thanks to everyone who contributed to our newly re-written order matcher.

Part of the broader overhaul this month:
Oct 19, 2022 15 tweets 4 min read
1) As promised:

My current thoughts on crypto regulation.

ftxpolicy.com/posts/possible… 2) At a high level:

a) we need regulatory oversight and customer protection

b) we need to ensure an open, free economy, where peer to peer transfers, code, validators, etc. are presumptively free

c) we should establish regulation--and until then standards--to ensure (a/b)
Oct 12, 2022 23 tweets 5 min read
1) When it comes to oracles,

you just have to make up your own damn mind 2) NOT FINANCIAL ADVICE, NOT LEGAL ADVICE
Oct 10, 2022 5 tweets 2 min read
1) Equitable direct access:

the way market access should work

ftx.com/settings/api 2) On your API page, you can now whitelist an IP address to get direct, fast access to FTX's servers, bypassing Cloudflare.

This should take API order latency down significantly.

ftx.com/settings/api
Oct 10, 2022 7 tweets 1 min read
1) This Thanksgiving:

FTX, Evolved. 2) Over the next month, we'll be rolling out a bunch of improvements to FTX's matching engine.

In fact we've already started.
Sep 27, 2022 14 tweets 2 min read
1) Blacklists and whitelists 2) I don't know what the perfect answer is for crypto regulation.

But the core thesis that I believe is that blacklists are better than whitelists.

What does that mean?
Sep 12, 2022 14 tweets 3 min read
1) The freedom of the goat 2) I'm watching the Bucs vs Cowboys game today.

The announcers just talked about how @TomBrady used the run to set up the pass:

a) defense plays against pass b/c of Brady/Jones/Evans/Godwin
b) Bucs run
c) defense adjusts to run
d) Bucs pass