FTX founder Sam Bankman-Fried (SBF) tweeted that competitors tried to slander us with rumors, but FTX is all right and funds are safe. FTX has enough assets to cover all user deposits and will not use customer assets for investment, and currently FTX is still processing customer withdrawals. FTX has been working on processing withdrawal transactions, which have been slowed down by strict regulations.
FTX is audited based on GAAP and has over $1 billion in excess cash. In addition, SBF also expressed its willingness to build an encryption ecosystem with CZ.
