Sam Bankman-Fried, CEO of FTX, has come out to allay fears about the state of the crypto exchange’s finances.
Bankman-Fried said the platform has excess cash and clients’ funds are safe while also calling on Binance CEO to collaborate with him to improve the ecosystem.
“It’s heavily regulated, even when that slows us down. We have GAAP audits, with $1b excess cash. We have a long history of safeguarding client assets, and that remains true today.”
“Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won’t pretend to make love after divorce. We are not against anyone. But we won’t support people who lobby against other industry players behind their backs. Onwards.”
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