The WSJ is reporting that Sam Bankman-Fried thinks he can raise enough money to make users whole.
The shortfall is up to $8 billion and so far his efforts have been unsuccessful.
Lately, Bankman-Fried has been posting a long string of tweets to spell out 'what happened' and he's teasing that he will tell more. However, people are noting that every time he tweets, he deletes an old and potentially-incriminating tweet. The reason appears to be that some internet caches don't recognize the missing old tweet when a new tweet is made at the same time.
Anyone who would give this company or FTX money right now is insane. The brand is worthless and he's almost-certainly going to be arrested.
Here's one of the deleted tweets:
"3) It's heavily regulated, even when that slows us down. We have GAAP audits, with > $1b excess cash. We have a long history of safeguarding client assets, and that remains true today."
And of course, this classic, which was just before the bankruptcy:
"2) FTX has enough to cover all client holdings.
We don't invest client assets (even in treasuries).
We have been processing all withdrawals, and will continue to be."
