Sam Bankman-Fried Apologises, Tells Binance ‘You Won’

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Sam Banksman-Fried. Source: Screenshot A Video, HBO/YouTube

FTX CEO Sam Bankman-Fried has apologized in his first series of tweets since the collapse of FTX. “I messed up, and should have done better,” said the CEO.

In its first series of tweets since Binance’s announcement inverted Offering to buy troubled crypto exchange FTX, SBF apologized to everyone involved in the platform, acknowledging that it had made mistakes and reiterating its commitment to be corrected by users.

He also believed that he should have been more transparent. SBF said, “Transparently – my hands were tied throughout the duration of the potential Binance deal. I was not specifically allowed to say much publicly. But of course it is on me that we got there in the first place.” reached.”

Specifically, in a tweet aimed at Binance and its CEO CZ, SBF stated that they “win.”

“At some point I may have more to say about one particular sparring partner, so to speak. But you know, the glass house. So for now, all I’ll say is: Well played; you have won.” They said.

In a subsequent tweet, the SBF clarified that they did not mean that a contestant had hurt them technically or legally. “Maybe I didn’t describe things correctly, although I’m trying to be transparent,” he said.

While the two CEOs are trying to show that they are friendly, their relationship has turned sour over the past months. In recent months, the two have been competing for market share and have publicly accused each other of trying to harm each other’s businesses.

The relationship between CZ and SBF began in 2019, when the Binance chief acquired a 20% stake in FTX for about $100 million six months after its launch. However, their relationship soured as FTX grew rapidly and became a de facto competitor to Binance, according to Reuters. report good,

In July 2021, SBF bought back CZ’s stake in FTX for approximately $2 billion. The amount was paid in USD and FTX’s own coin, FTT. This week CZ announced it was going to liquidate any remaining FTTs in its books, which further undermined the confidence around FTX.

Meanwhile, CZ has claimed that the collapse of FTX is not a “win” for them. He added that the incident would undermine user confidence in the industry and attract even more regulatory scrutiny.

Alex Edelman, CEO and co-founder of bitcoin rewards app Lolli, said, “For the crypto ecosystem to heal, leaders and companies must now be fundamentally transparent with their customers and seek bitcoin to build scalable, sustainable businesses. The technique and principles should come back.” , said in a comment to Cryptonews.com.



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