Benzinga - Sam Bankman-Fried, the man on everyone's lips, never ceases to amaze. In a recent flurry of tweets, he continued to give his side of the story.
Within the tweets are strong statements such as, "We got overconfident and careless."
Without further ado, read the tweets below:
20) I was on the cover of every magazine, and FTX was the darling of Silicon Valley.We got overconfident and careless.
— SBF (@SBF_FTX) November 16, 2022
22) And that risk was correlated--with the other collateral, and with the platform.And then the crash came.
In a few day period, there was a historic crash--over 50% in most correlated assets, with no bid side liquidity.
And at the same time there was a run on the bank.
— SBF (@SBF_FTX) November 16, 2022
24) Shrapnel— SBF (@SBF_FTX) November 16, 2022
Why SBF chooses this type of informal and sporadic communication is a mystery. Time will tell. In the meantime, stay tuned for minute-by-minute updates on this drama via Benzinga.
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