Sam Bankman-Fried, CEO of crypto exchange FTX, has said the value of the platform's assets outweighs customer liabilities, and the liquidity crisis has not affected the US division of the cryptocurrency exchange.
He has written:
"I'm sorry. That's the biggest thing. I fucked up, and should have done better. 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."
According to him, the liquidity problems arose exclusively from the global FTX International platform. He has stressed the US division - FTX.US - has not been affected financially.
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The company's CEO has added the platform is not insolvent. However, it is facing difficulties due to its miscalculation of client margins.
Bankman-Fried has written:
"FTX International currently has a total market value of assets/collateral higher than client deposits."
He has said his company is "doing everything possible to raise liquidity."