
Today, the encryption big V Cobie posted that an anonymous user on Telegram provided him with an internal letter to employees published by SBF on the FTX internal Slack channel.
In the article, SBF stated that FTX still has the possibility of raising funds in theory, which will be the top priority next week. At the same time, Sun Yuchen, as a potential funder, is already in dialogue with him. In addition, SBF also mentioned that Binance may never have planned to complete this transaction.
Odaily organizes the full text as follows:
I know I promised that more information should have been given earlier; we've been working on the following:
First of all, I'm sorry. Ultimately, it is my personal responsibility for things to get to this point. I am so grateful for everything you all have done and will always be grateful.
Now my first task is to take responsibility to customers and do the right thing, and the second is to take responsibility to you and investors, but customers are the priority. I'm not sure which path ahead is the right one to move forward, but the most important thing is that we are still in this together.
So, over the next week, we're going to do a fundraising. The goal of this financing was to do what's right with the client first, current and potential investors second, and satisfy everyone. In a hypothetical situation, in a world where everything happens to be on the right track, perhaps I myself would be placed fourth and last as an investor. But that's not a top priority for our company.
If people want to be optimistic, maybe we can say that we have a lot of money and/or potential fundraising in theory, more than all needs, but in the end, the real world does not always turn out as expected. I don't want to give any confidence in what's going to happen in the future, or suggest any odds of success. But for the next week, that will be my top priority. Financing could end up being a joint capital injection from FTX International and FTX US, but I don't want to make any commitments on that front.
As part of the potential financing mentioned above, we have held a meeting with Justin Sun, the details of which will be announced soon.
Ryne Miller and Zach Dexter have been running the day-to-day operations of FTX US and are prioritizing their planning. Gary, joven, Dan Chapsky and I will make sure we prioritize helping those who need us most, feel free to reach out! For Bahamas operations, ask Ceri Howells; for funding, ask Constance; as far as FTX's long-term vision is concerned, many people must be involved, but the current priority will be scheduled for next week.
Obviously, right now we are communicating with external parties; a big thank you to everyone who is managing this. Especially the whole VIP and CS(Computer Science) team who have more or less had the toughest job in the world this past week.
Regarding Binance, I shouldn't be "throwing stones at the glass house" (provocation), so I choose not to say more here, let me just say: Binance may never have planned to actually do transactions, but anyway, we will finish Our work. Still, I am very grateful to everyone who worked hard for it.
On the operational side: Our engineering team will maximize requirements. New account registrations will be stopped, so we won't be doing a lot of KYC this week. Collectively, these efforts require sector-by-sector engagement. I need to spend more time writing a more detailed summary, and will also provide more detailed information, including: (a) a detailed explanation of exactly what happened and what went wrong; (b) the management structure and leadership going forward; (c) a public response article and (d) access to payroll, etc.
In the end, I fully understand that this is a difficult time for everyone, and I'm really, really sorry. I also understand that everyone has their own ideas about what is the right decision for the company to do.
For the next week, at least the above is our roadmap (at least for FTX International). I would love for each of you to be there and fight with us. But I also totally understand that it's stressful, and you guys might disagree with me. I'm totally fine with both, and I respect you all, but we do need to be in this together.
If you want to quit or find another way out, I will not stop you.