Sam Bankman-Fried Says In Talks With Regulators On FTX: 'Goal Is To Do Right By Customers'

Sam Bankman-Fried, popularly known as “SBF”, co-founder and former CEO of the now-defunct crypto exchange FTX FTT/USD, said he is working with regulators and teams to do everything he can “right for customers.”

What Happened: In a series of Tweets posted on Tuesday, SBF claimed that “FTX US had enough to repay all customers,” which contradicts his claim that his “memory might be faulty” or that “not everyone necessarily agrees.”

12) To the best of my knowledge, as of post-11/7, with the potential for errors:

a) Alameda had more assets than liabilities M2M (but not liquid!)
b) Alameda had margin position on FTX Intl
c) FTX US had enough to repay all customers

Not everyone necessarily agrees with this

— SBF (@SBF_FTX) November 15, 2022

See More: Best crypto wallets

He said he continues to contribute in what he can. “I’m meeting in-person with regulators and working with the teams to do what we can for customers,” he tweeted, adding that his priority is the customers “and after that, investors.”

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.

— SBF (@SBF_FTX) November 15, 2022

Bankman-Fried defined his new set of goals which is: to “focus on transparency” and “make customers whole” again.

Currently, there is no clarity about which regulators he contacted.

The U.S. Securities and Exchange Commission did not immediately respond to Benzinga's request for comment.

Price Action: FTT is trading at $1.76 up 18.32% in the past 24 hours, according to Benzinga Pro.

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