Sam Bankman-Fried Not Giving Up On FTX Through Leaked Slack Message.
It has been a roller coaster ride for Sam Bankman-Fried (SBF) and FTX in the last 48 hours. First, Binance and CZ announced that their deal to acquire FTX has fallen through and SBF explaining to investors that FTX may face bankruptcy if no new cash injection is realized.
In the latest breakout story of the FTX saga, it seems like FTX’s founder and CEO has not given up totally on the future of FTX.
Leaked Slack Message Shows SBF Still Looking For Solution
In a leaked slack message from SBF, he explained what the company is going to do for the next few weeks or so. The message has been verified by a crypto podcaster CObie. Bankman-Fried stated his priorities for now by saying “My Number one priority, right now, is to do right by customers. After that, it’s to do right by you guys and by investors; but only after #1”
SBF further explained that “for the next week, we will be conducting a raise. The goal of this raise will be first to do right by customers; second by current and possible new investors; third all of you guys”
“And in, and only in, a hypothetical world where everything turns out amazingly and everyone else is done right, maybe myself as an investor, fourth and last — but that’s not a particularly important part of anything we’re going to be doing as a company.”
SBF further iterated that he is working to find a way out for FTX by trying to raise money, “One could maybe say, if they wanted to be optimistic, that we have a lot theoretically in and/or potentially for the raise–more than enough to cover all needs–but at the end of the day the entire world lives between there and where we need to be. I don’t want to give any sense of confidence in what will happen, and don’t want to imply anything about the odds of success here.”
A msg from SBF on FTX slack that got leaked to me by some telegram anon, have verified its real w another pic.twitter.com/XMjIM9nSkx
— Cobie (@cobie) November 10, 2022
SBF On The Failed Binance Take Over
One of the possible investors for FTX would be the founder of TRON, Justin Sun. First announced by Sun that is working with FTX for a solution and now SBF confirm it in the leaked message stating “As one part of the potential above raise, we have had talks with Justin Sun (as Twitter broke). Details forthcoming there.”
Bankman-Fried also reiterated his top priority for the following week is to raise money and may end up combining FTX International and FTX US together.
“But, for the next week, this will be my top priority. The raise may end up being a combined FTX Intl + FTX US infusion, but I don’t want to be overconfident there.”
First thought as being a true potential lifeline for FTX, Binance decided to not continue the take over following their due diligence. This seemed to make Sam Bankman-Fried disappointed and fairly annoyed at the failure of the Binance deal, He stated that “On Binance: I shouldn’t throw stones in a glass house, so I’ll hold back a bit here, except to say: probably they never really planned to go through with the deal, but so be it; we’re going to do our jobs here regardless. Nonetheless, I’m hugely grateful to everyone who put work into that getting there.”