SBF
@SBF_FTX
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CEO of @FTX_Official : . Not investment advice. and FTT not available in the United States or prohibited jurisdictions. works in US!
Nassau, The Bahamas
Joined March 2019
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SBF Retweeted
I guess my slightly spicy EA take is that there’s too much complacency about not being funding constrained, and it would actually be really useful to raise dramatically more money.
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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 Retweeted
I am proud to have interviewed
@SBF_FTX
in the first Crypto Evolved podcast. It was taped over a week ago as markets were crashing, but most of the conversation is extremely topical.
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VCs: "we'd love to help you backstop crypto firms and provide liquidity because we care deeply about preventing market contagion"
also VCs: "can we please do it for the one great company (after you fix it) and make a lot of money doing it, you can take the others k thx bye"
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6) We take our duty seriously to protect the digital asset ecosystem and its customers.
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5) And, going forward, we’re excited to partner with BlockFi to offer industry leading products.
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4) BlockFi is financially strong; all operations are normal, as they always have been, and assets are safe.
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3) Sometimes leadership means acting decisively and that’s what BlockFi did: removing troublesome counterparties _before_ they become a problem, and adding cash _before_ it was necessary.
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2) BlockFi has careful risk management and great leadership.
So they successfully removed at-risk counterparties preemptively.
BlockFi customer assets are appropriately managed, with no debt/risk from 3AC, Celsius, etc.
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1) Today we’re injecting $250m into BlockFi and partnering with them so they can navigate the market from a position of strength.
Today
@BlockFi
signed a term sheet with
@FTX_Official
to secure a $250M revolving credit facility providing us with access to capital that further bolsters our balance sheet and platform strength.
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SBF Retweeted
FTX US is acquiring
@Embedded
, a FINRA-, NSCC-, and DTCC-member broker dealer with a technology stack to provide whitelabel brokerage services for stocks, options, and other securities!
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