FTX Latest: Bankman-Fried Was Wrong About Exchange’s Leverage
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Former FTX CEO Sam Bankman-Fried said in a tweet that he made a mistake on the cryptocurrency exchange’s leverage levels. It was $13 billion, not about $5 billion.
Separately, Gemini Trust Co., the cryptocurrency platform run by the Winklevoss brothers. said in a tweet that its exchange is fully back online hours after the company said it paused withdrawals on its lending program. Gemini is a lender to crypto brokerage Genesis, which suspended redemptions at its lending business after facing what it described as “abnormal withdrawal requests” in the aftermath of the collapse of FTX.