FTX founder SBF apologizes, admits management mistakes, and states that assets still exceed customer deposits.

The founder of FTX, SBF, recently issued an apology letter, admitting to serious mistakes in company management. He stated that the total value of FTX's assets is still higher than customer deposits, but there are serious issues with liquidity.

SBF admitted that he made mistakes in judgment on two key aspects: first, the mismanagement of internal account label, which led to a serious deviation in the estimation of users' leverage; second, he did not anticipate the sudden large-scale withdrawal surge. He revealed that on Sunday alone, he received withdrawal requests totaling about $5 billion, far exceeding past records.

In response to the current situation, SBF stated that he will do everything possible to turn the situation around. He promised to do his utmost to improve Liquidity and is currently in discussions with multiple parties regarding potential investments. SBF emphasized that all funds and collateral will be prioritized for resolving user issues.

Regarding Alameda Research, SBF stated that the company will stop trading activities. He denied the allegations of misconduct circulating online but acknowledged that action needs to be taken.

SBF also mentioned that in the future he will work to improve the transparency of FTX, allowing all stakeholders to participate in the company's governance. He expressed his willingness to take personal responsibility for this and would even resign if necessary.

It is worth noting that SBF specifically emphasized that the financial situation of FTX US has not been affected, and US users can withdraw normally.

Finally, SBF once again apologizes to all those affected and promises to continue to disclose the latest developments. This letter reveals the severe challenges currently faced by FTX and reflects the importance of regulation and risk management in the cryptocurrency industry.