Financial difficulties faced by FTX

FTX SBF Financials

In this article, Sam Bankman-Fried talks about the financial difficulties faced by FTX.

He argues that the company was brought down by a sudden and intentional crash orchestrated by the CEO of Binance. According to Bankman-Fried, FTX’s failure to protect itself against market fluctuations led to a significant loss of value in its assets, with the market value dropping by 80%.

However, he suggests that there is still a chance for FTX to recover and that its US division is still financially stable and able to return all customer funds.