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SBF

@SBF_FTX

998,235
Followers
2,485
Following
1,197
Media
20,805
Statuses

Nassau, The Bahamas
Joined March 2019
Don't wanna be here? Send us removal request.
@SBF_FTX
SBF
1 year
1) I'm sorry. That's the biggest thing. I fucked up, and should have done better.
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@SBF_FTX
SBF
2 years
we just gave $25 to each Ukrainian on FTX do what you gotta do
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@SBF_FTX
SBF
1 year
1) What
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@SBF_FTX
SBF
1 year
1) Hey all: I have a few announcements to make. Things have come full circle, and ’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for (pending DD etc.).
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@SBF_FTX
SBF
1 year
1) Hi all: Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US.
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@SBF_FTX
SBF
2 years
Ok guys I’m ready this time
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@SBF_FTX
SBF
3 years
@coinmamba I'll buy as much SOL has you have, right now, at $3. Sell me all you want. Then go fuck off.
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@SBF_FTX
SBF
2 years
1) To what end? Some potential use-cases for crypto.
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@SBF_FTX
SBF
2 years
idk what to say, they came that way :P
@zackseward
Zack Seward
2 years
Telegram with the high quality SBF content
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@SBF_FTX
SBF
1 year
2) H
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@SBF_FTX
SBF
3 years
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@SBF_FTX
SBF
1 year
20) At some point I might have more to say about a particular sparring partner, so to speak. But you know, glass houses. So for now, all I'll say is: well played; you won.
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@SBF_FTX
SBF
1 year
4) A *huge* thank you to CZ, Binance, and all of our supporters. This is a user-centric development that benefits the entire industry. CZ has done, and will continue to do, an incredible job of building out the global crypto ecosystem, and creating a freer economic world.
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@SBF_FTX
SBF
2 years
I’m honored to be testifying before the House Financial Services Committee today about the future of the digital asset industry, along with colleagues from Coinbase, Circle, Paxos, Bitfury, and Stellar.
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@SBF_FTX
SBF
2 years
Right now on FTX you can: a) invest in stocks b) invest in crypto c) make credit card deposits d) get an FTX card, spend directly from FTX e) make direct deposits f) make peer to peer payments what else do people want?
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@SBF_FTX
SBF
2 years
1) Some thoughts on crypto, Ukraine, and stocks
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@SBF_FTX
SBF
1 year
We hope this is just step one: beginning to find ways to bring liquidity to users. That is the core thing that I am fighting for right now, and will continue to fight for in whatever ways I can.
FTX Announcement Regarding the Tron Credit Facility: We are pleased to announce that we have reached an agreement with Tron to establish a special facility to allow holders of TRX, BTT, JST, SUN, and HT to swap assets from FTX 1:1 to external wallets.
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@SBF_FTX
SBF
2 years
✅ DM me for delivery logistics
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@SBF_FTX
SBF
1 year
1) A huge thank you to everyone who has supported us--we're excited to keep climbing together. And especially to those who stay level headed during crazy times. We deeply appreciate it.
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@SBF_FTX
SBF
1 year
5) I know that there have been rumors in media of conflict between our two exchanges, however Binance has shown time and again that they are committed to a more decentralized global economy while working to improve industry relations with regulators. We are in the best of hands.
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@SBF_FTX
SBF
3 years
The biggest problem with taxing unrealized gains: Let's say you start a company, and it starts doing well. The market value of the equity you have goes up. You owe tax on it.... way more than your cash. So you're *forced* to sell any time it goes up to get $ to pay tax.
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@SBF_FTX
SBF
3 years
Couldn’t sleep, back to the office. Gm to those that’ll never take work off.
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@SBF_FTX
SBF
1 year
22) And, finally: I sincerely apologize. We'll keep sharing updates as we have them.
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@SBF_FTX
SBF
1 year
I’ll be speaking with @andrewrsorkin at the @dealbook summit next Wednesday (11/30).
@BTC_Archive
Bitcoin Archive
1 year
FTX FOUNDER: Minutes after FTX bankruptcy was signed "potential interest in billions of dollars of funding came in" 🤔
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@SBF_FTX
SBF
3 years
Fuckin surreal
@fintechfrank
Frank Chaparro
3 years
Nuts
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@SBF_FTX
SBF
2 years
(I'm still $3 bid if anyone's interested!)
@coinmamba
CoinMamba
2 years
At this rate I'm gonna get a chance to buy back all my $SOL at $3..
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@SBF_FTX
SBF
2 years
ok so I think the world has fully woken up to the impact of inflation expectations on crypto
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@SBF_FTX
SBF
3 years
Welcome to the @FTX_Official family @StephenCurry30 <3
@DeItaone
*Walter Bloomberg
3 years
NBA SUPERSTAR STEPHEN CURRY BECOMES GLOBAL AMBASSADOR AND SHAREHOLDER OF LEADING CRYPTOCURRENCY EXCHANGE FTX THROUGH LONG-TERM PARTNERSHIP
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@SBF_FTX
SBF
3 years
🤝 @TSM
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@SBF_FTX
SBF
1 year
2) Our teams are working on clearing out the withdrawal backlog as is. This will clear out liquidity crunches; all assets will be covered 1:1. This is one of the main reasons we’ve asked Binance to come in. It may take a bit to settle etc. -- we apologize for that.
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@SBF_FTX
SBF
1 year
2) I also should have been communicating more very recently. 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.
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@SBF_FTX
SBF
2 years
wait ok I'm confused what's the takeaway from March 2020? that things are supposed to go down then up on COVID so let's do that again? (NOT FINANCIAL ADVICE, NO IDEA WHAT WILL HAPPEN, THE WORLD IS WACKY AND WILD)
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@SBF_FTX
SBF
2 years
Theory: the crypto bear market will be better for having been abrupt; the credit crash will be brutal for having been drawn out over a year, and slowly sapping away consumer confidence day by day.
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@SBF_FTX
SBF
3 years
1) I'm deeply humbled by the support we've gotten from our new partners:
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@SBF_FTX
SBF
1 year
Expanding on DealBook: When I filed, I'm fairly sure FTX US was solvent, and that all US customers could be made whole. To my knowledge, it still is today. I was expecting that to happen. I'm surprised it hasn't. I'm not sure why US withdrawals were turned off.
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@SBF_FTX
SBF
2 years
1) The financial circle-jerk
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@SBF_FTX
SBF
2 years
1) Voyager lost customer assets, but it still has the majority left. Why haven't those been returned to customers yet? Sad facts from a bankruptcy process.
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@SBF_FTX
SBF
3 years
Tüm Türk halkının Cumhuriyet Bayramı kutlu olsun! #29Ekim
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@SBF_FTX
SBF
1 year
3) But the important thing is that customers are protected.
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@SBF_FTX
SBF
1 year
6) (Note that and –two separate companies–are not currently impacted by this. ’s withdrawals are and have been live, is fully backed 1:1, and operating normally.)
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@SBF_FTX
SBF
2 years
1) FWIW, some thoughts on what a decentralized Twitter might look like:
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@SBF_FTX
SBF
2 years
1) I've written a bunch about FTX's roadmap. But I haven't written much about crypto's. So, here goes.
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@SBF_FTX
SBF
3 years
Who would have thought two years ago that a significant consideration for where to live would be "it's actually legal to enter and leave the country".
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@SBF_FTX
SBF
2 years
1) Not all bad things are the same bad thing
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@SBF_FTX
SBF
2 years
🔥🔥🔥
Thank you, @SBF_FTX !!!!! This is the craziest day of my life. I went from the fastest typer in the world (100 WPM) to driving the fastest car in the world (Tesla Model S Plaid)
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@SBF_FTX
SBF
2 years
1) Between inflation and recession: Post-Modern Monetary Theory
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@SBF_FTX
SBF
1 year
3) A
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@SBF_FTX
SBF
2 years
we like the
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@SBF_FTX
SBF
1 year
13) Because at the end of the day, I was CEO, which means that *I* was responsible for making sure that things went well. *I*, ultimately, should have been on top of everything. I clearly failed in that. I'm sorry.
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@SBF_FTX
SBF
3 years
The world is pretty absurd.
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@SBF_FTX
SBF
2 years
S&P500 is down ~2% today. Which, I have to remind myself, is a lot by the standards of traditional finance..
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@SBF_FTX
SBF
2 years
interview today, asked if BTC can scale for payments for transparency, my answer: 1) BTC can absolutely be payment asset, on lightning, L2, or wrapped 2) BTC chain not intended to scale to millions of TPS, so won't be global payments directly 3) bullish on blockchain payments
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@SBF_FTX
SBF
3 years
1) This is probably one of the most exciting announcements we've ever had. @ftx_us + @ledgerx
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@SBF_FTX
SBF
1 year
15) First, one way or another, Alameda Research is winding down trading. They aren't doing any of the weird things that I see on Twitter--and nothing large at all. And one way or another, soon they won't be trading on FTX anymore.
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@SBF_FTX
SBF
2 years
Having people in the office is fucking awesome. The energy, and productivity, and communication is really palpable. A huge thanks to everyone who's braving the... uh... 80 degree weather and beaches, to be here working with us.
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@SBF_FTX
SBF
3 years
1) Today, an exchange will list an exchange. One of them: --operates 24/7 --lists innovative assets --allows users to onboard --has a mobile app, website, and API --made $1b last quarter The other one is NASDAQ. Congrats, @coinbase .
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@SBF_FTX
SBF
1 year
10) [NOT LEGAL ADVICE. NOT FINANCIAL ADVICE. THIS IS ALL AS I REMEMBER IT, BUT MY MEMORY MIGHT BE FAULTY IN PARTS.]
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@SBF_FTX
SBF
2 years
Merhaba 👋🇹🇷🇹🇷
@FTX_Official
FTX
2 years
𝙷𝚎𝚕𝚕𝚘, 𝚃𝚞𝚛𝚔𝚎𝚢
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@SBF_FTX
SBF
2 years
1) Things to do in a bear market:
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@SBF_FTX
SBF
1 year
3) So here's an update on where things are. [THIS IS ALL ABOUT FTX INTERNATIONAL, THE NON-US EXCHANGE. FTX US USERS ARE FINE!] [TREAT ALL OF THESE NUMBERS AS ROUGH. THERE ARE APPROXIMATIONS HERE.]
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@SBF_FTX
SBF
3 years
I walked through the rain to get there, so my hair was matted down.
@AutismCapital
Autism Capital 🧩
3 years
Sam, jesus christ man, what happened?
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@SBF_FTX
SBF
3 years
this apple BTC news is total bullshit right?
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@SBF_FTX
SBF
1 year
6) My sense before: Leverage: 0x USD liquidity ready to deliver: 24x average daily withdrawals Actual: Leverage: 1.7x Liquidity: 0.8x Sunday's withdrawals Because, of course, when it rains, it pours. We saw roughly $5b of withdrawals on Sunday--the largest by a huge margin.
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@SBF_FTX
SBF
3 years
And so the correction is interrupted by the same thing that triggered it, and that created the bull market to be corrected in the first place:
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@SBF_FTX
SBF
1 year
9) Anyway: right now, my #1 priority--by far--is doing right by users. And I'm going to do everything I can to do that. To take responsibility, and do what I can.
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@SBF_FTX
SBF
2 years
gm to everyone except people I just gave a Tesla to
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@SBF_FTX
SBF
3 years
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@SBF_FTX
SBF
2 years
boy would the world thinking differently about crypto price moves it they measured it vs world currency baskets instead of just USD
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@SBF_FTX
SBF
2 years
Yikes I chose a bad day to be flying
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@SBF_FTX
SBF
2 years
Just as the outside view skeptics predicted, during a large market move a stablecoin blew out. Just not the stablecoin they predicted. Which was predictable, if you knew the details. This isn't a comment about good vs bad--it's about how important it is to know the details!
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@SBF_FTX
SBF
1 year
5) I'm piecing together all of the details, but I was shocked to see things unravel the way they did earlier this week. I will, soon, write up a more complete post on the play by play, but I want to make sure that I get it right when I do.
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@SBF_FTX
SBF
1 year
21) NOT ADVICE, OF ANY KIND, IN ANY WAY I WAS NOT VERY CAREFUL WITH MY WORDS HERE, AND DO NOT MEAN ANY OF THEM IN A TECHNICAL OR LEGAL SENSE; I MAY WELL HAVE NOT DESCRIBED THINGS RIGHT though I'm trying to be transparent. I'M NOT A GOOD DEV AND PROBABLY MISDESCRIBED SOMETHING.
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@SBF_FTX
SBF
1 year
4) FTX International currently has a total market value of assets/collateral higher than client deposits (moves with prices!). But that's different from liquidity for delivery--as you can tell from the state of withdrawals. The liquidity varies widely, from very to very little.
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@SBF_FTX
SBF
3 years
Opening night for @FTXArena
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@SBF_FTX
SBF
1 year
5) The full story here is one I'm still fleshing out every detail of, but as a very high level, I fucked up twice. The first time, a poor internal labeling of bank-related accounts meant that I was substantially off on my sense of users' margin. I thought it was way lower.
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@SBF_FTX
SBF
1 year
10) So, right now, we're spending the week doing everything we can to raise liquidity. I can't make any promises about that. But I'm going to try. And give anything I have to if that will make it work.
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@SBF_FTX
SBF
2 years
3) TO BE CLEAR I'M NOT SAYING WE'RE IN A BEAR MARKET, BEAR MARKETS ARE MYTHS SPREAD BY WILDFIRES, MARKETS ARE EFFICIENT MACHINES SOMETIMES but more generally, down today doesn't mean down tomorrow
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@SBF_FTX
SBF
2 years
1) A huge thanks to @MaxineWaters , @PatrickMcHenry , and the whole House Financial Services Committee for having us today to talk about the future of digital assets. The meeting was productive and I'm really grateful for the engagement and thoughts from policymakers.
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@SBF_FTX
SBF
2 years
Ok, back to work
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@SBF_FTX
SBF
2 years
FTX is pleased to announce the acquisition of the Liquid group of companies, including an FSA-registered crypto-asset exchange to provide products and services to our customers in Japan! 🇯🇵
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@SBF_FTX
SBF
3 years
1) We're really excited to partner with @MLB ! FTX is now the official crypto sponsor of Major League Baseball.
@MLB
MLB
3 years
Big things coming. 👀
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@SBF_FTX
SBF
2 years
To be clear I also said that it _does_ have potential as a store of value. The BTC network can't sustain thousands/millions of TPS, although BTC can be xfered on lightning/L2s/etc.
@WuBlockchain
Wu Blockchain
2 years
FT: Sam Bankman-Fried, founder of FTX, said that Bitcoin has no future as a payments network because of its inefficiency and high environmental costs. Countries such as El Salvador and the Central African Republic have adopted Bitcoin as a legal tender.
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@SBF_FTX
SBF
2 years
Ok so can we all agree that hosting a global sporting event in the country that has the most travel restrictions in the world during the height of a pandemic was maybe asking for controversy?
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@SBF_FTX
SBF
2 years
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@SBF_FTX
SBF
1 year
11) I'll get to what happened. But for now, let's talk about where we are today.
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@SBF_FTX
SBF
3 years
1) There's a bill in the Senate right now about tax reporting and crypto. What does it say, and what impact would it have?
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@SBF_FTX
SBF
1 year
8) And so we are where we are. Which sucks, and that's on me. I'm sorry.
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@SBF_FTX
SBF
1 year
16) Maybe I'll fail. Maybe I won't get anything more for customers than what's already there. I've certainly failed before. You all know that now, all too well. But all I can do is to try. I've failed enough for the month. And part of me thinks I might get somewhere.
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@SBF_FTX
SBF
2 years
1) Zig Zag and hiring: why FTX is going to keep growing as others cut jobs
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@SBF_FTX
SBF
2 years
Backstopping customer assets should always be primary. Everything else is secondary.
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@SBF_FTX
SBF
2 years
2) NOT FINANCIAL ADVICE And more importantly, there might be war. That's really bad for the world. Fuck all this price stuff. Go outside and do something nice for someone. ----- Seriously, do something nice. The world could use it. I'll wait. -----
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@SBF_FTX
SBF
1 year
13) My goal—my one goal—is to do right by customers. I’m contributing what I can to doing so. I’m meeting in-person with regulators and working with the teams to do what we can for customers. And after that, investors. But first, customers.
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@SBF_FTX
SBF
1 year
6) E
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@SBF_FTX
SBF
1 year
12) Every penny of that--and of the existing collateral--will go straight to users, unless or until we've done right by them. After that, investors--old and new--and employees who have fought for what's right for their career, and who weren't responsible for any of the fuck ups.
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@SBF_FTX
SBF
2 years
If someone is playing to earn, someone else is earning to play. Make great products that people love. (Or memes, everyone loves memes.)
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@SBF_FTX
SBF
2 years
16) And again, go do something nice for someone. The world could use it right about now.
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@SBF_FTX
SBF
3 years
1) We're really excited to be setting up @FTX_Official 's headquarters in The Bahamas! a) The Bahamas is one of the few places to set up a comprehensive framework for crypto; FTX is registered b) The Bahamas has emerged from COVID lively, safe, and without quarantine
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@SBF_FTX
SBF
3 years
The change in public perception around crypto in the last year is really spectacular
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