Sam Bankman-Fried, the founder of the embattled cryptocurrency exchange FTX, has finally put a stop to a series of cryptic tweets that have perplexed Crypto Twitter.
In a series of bizarre tweets that started on November 14, SBF slowly tweeted capital letters that spelt out "what happened."
He later went on to explain the FTX fiasco in detail from his point of view; however, his cryptic way of tweeting important details has been dubbed silly and insulting by Crypto Twitter.
SBF concludes his cryptic Twitter thread
On November 14, embattled crypto exchange FTX CEO Sam Bankman-Fried started a cryptic Twitter thread, tweeting capital letters that spelt "what happened" across nine tweets.
SBF later tweeted important details about the recent FTX-Alameda collapse, but his eccentric way of tweeting important details about FTX has drawn severe and intense criticism from former FTX users and crypto investors.
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On November 15, SBF continued to tweet about how Alameda had more assets than liabilities and that FTX US had sufficient funds to repay all customers.
From SBF:
To the best of my knowledge, as of post-11/7, with the potential for errors: Alameda had more assets than liabilities M2M but not liquid! Alameda had margin position on FTX Int. FTX US had enough to repay all customers. Not everyone necessarily agrees with this."
Twitter users have called SBF out for treating the FTX collapse as a joke. Users were also quick to label SBF's recent "tweet storm" as juvenile and disrespectful.
One Twitter user dubbed SBF a scammer who stole people's money. Another tweeted that SBF's idea of repaying customer funds sounds incredibly irrational and foolish.
Many called out SBF and proclaimed that he should be sent to jail for how FTX treated user's funds on the FTX platform.
The FTX-Alameda debacle has attracted global scrutiny
The collapse of FTX has reportedly resulted in the loss of billions of dollars and bankrupted multiple companies associated with FTX, including BlockFi.
In a statement issued by the Royal Bahamas Police, authorities confirmed that they have launched an investigation against FTX to assess the level of criminal misconduct and injustice that went on behind the scenes.
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