SBF Letter to Shareholders: Will Do Everything Possible to Protect Customer Assets and Shareholder Interests
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SBF Letter to Shareholders: Will Do Everything Possible to Protect Customer Assets and Shareholder Interests
I'm sorry I didn't do better. I will do my best to protect the clients' assets, as well as your investment.
Navigating Web3 tides with focused insightsOn November 9, the crypto world entered a new era as FTX faced liquidity issues and CZ announced plans to acquire FTX.com. SBF, who has been at the center of the storm, sent the following letter to investors:
Hi everyone,
I'm sorry I haven't been in touch over the past few days. I wish I could have communicated more throughout this process, but unfortunately, I haven't been able to, as things are evolving dynamically.
We've reached a non-binding agreement with Binance for the purchase of FTX.com.
What does this actually mean? That's a good question; unfortunately, I don't have a perfect answer for you yet, as the details are still being discussed. We'll provide you with more information in the coming days and weeks.
Our top priority has been protecting customers and the industry, and that continues to guide our actions.
We're optimistic that we'll get through all of this, which means we'll soon be able to focus on our second priority: our shareholders.
Again, I wish I had more details to share with you right now, but I don't yet. I will provide them as soon as they're resolved. However, protecting our shareholders is our highest priority beyond the non-negotiables.
The next few days may be very busy for me, so unfortunately, I might not have much time for a while, but Ramnik and others will be around, (slightly) less overwhelmed.
Anyway. I'll write more reflections later when I have time. I'm sorry I didn't do better, and I'll do everything I can to protect customer assets and your investments.
SBF
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