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
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: 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.