FTX’s Sam Bankman-Fried tweeted Thursday morning that he is “sorry,” admitting that he “f—ed up” and “should have done better.” Bankman-Fried also announced that he is winding down Alameda Research, the trading firm he co-founded alongside FTX.The post comes as the onetime hero of the crypto sector begs for billions of dollars to stave off bankruptcy. It has been a swift fall from grace for FTX this week. Earlier this year, the exchange was valued at $32 billion, but now Bankman-Fried is again looking for someone to backstop FTX after rival exchange Binance pulled out of a deal to acquire it.”I also should have been communicating more very recently,” wrote Bankman-Fried. “Transparently–my hands were tied during the duration of the possible Binance deal; I wasn’t particularly allowed to say much publicly. But of course it’s on me that we ended up there in the first place.”The FTX CEO also provided the latest on where things stand with his beleaguered crypto exchange.Excluding its U.S. business, Bankman-Fried said its international operation has a total market value of assets and collateral that is higher than client deposits, but he said that is “different from liquidity for delivery–as you can tell from the state of withdrawals.””The full story here is one I’m still fleshing out every detail of, but as a ver …
