What FTX’s collapse means for crypto
Behind the Money
00:00
FTX and Sam Bankman-Fried - What's the Difference?
FTX founder Sam Bankman-Fried has made a few statements on Twitter, including one very long thread where he kind of seemed to be trying to explain himself. He's certainly said it was all my fault. I screwed this up. And his explanation, as best you could put it together, was they did not have an accurate picture internally of the liquidity and leverage on the exchange. That basically, their internal bookkeeping was not such that they really knew their financial position.
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