In his thread, Bankman-Fried tried to explain his company’s situation, saying FTX “poorly” labeled bank-related accounts internally, and so he misjudged users’ margins. Customers withdrew $5 billion worth of assets on Sunday, but had the liquidity to support only 80% of that, with leverage 1.7 times what FTX had.
Sam Bankman-Fried Says Alameda Winding Down, Promises FTX US Customers’ Funds Are ‘Fine’
