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SBF Internal Memo Leaked! Key Financing Round Scheduled for Next Week, Binance Might Not Have Intended to Complete Acquisition

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SBF Internal Memo Leaked! Key Financing Round Scheduled for Next Week, Binance Might Not Have Intended to Complete Acquisition

Crypto celebrity Cobie shared on Twitter a message from SBF in the internal Slack of FTX, stating that SBF will be fundraising next week and has had conversations with Justin Sun. This is the key content of the message.

Message to Employees from SBF

SBF indicated in the message that financing will be conducted next week. The primary focus of the financing is to protect the interests of users, followed by current and potential investors, then FTX employees, and finally SBF as an investor himself.

SBF mentioned that while people might think theoretically FTX could raise enough money, he didn't want to imply the possibility or reveal how confident he is, but this will be the main task for next week.

SBF also stated that this financing will be conducted in the name of FTX and FTX US, and mentioned having conversations with Justin Sun.

Regarding FTX's long-term vision, SBF stated that they are currently in negotiations with several external teams, expressing gratitude to everyone involved in handling these matters, as they have been dealing with some of the most challenging work in the world over the past seven days.

Regarding Binance, SBF admitted that perhaps before criticizing others, one should look in the mirror, but also mentioned that Binance may never have intended to complete the transaction,

"That's that. Nonetheless, I am very grateful for everyone who has worked hard on this," said SBF.

In terms of operations, FTX will no longer accept new registrations, so there will be no need for extensive KYC operations next week.

As for SBF's personal to-do list, he stated that it will take longer to write and owes the company's employees answers to the following questions:

  1. More thorough explanation of what exactly happened.
  2. Future management structure, leadership.
  3. About public statements.
  4. Release of salary slips and other relevant information.

Regarding the fourth point, Cobie explained that FTX employees are very concerned about whether they will still receive their salaries.

Finally, SBF expressed that he fully understands everyone's difficult situation and feels very sorry. At the same time, he understands that everyone has their own thoughts on the company's decisions.

"In the coming week at least, this is our future plan at least FTX International. I hope everyone will fight with us. But I fully understand that this may be stressful, and you may not agree. But that's okay, I respect everyone, but we need to move forward together. If you decide to leave, I won't force you."