Bloomberg: Discussions between the U.S. and the Bahamas regarding bringing SBF back to the U.S.; No one arrested in connection with the FTX incident

According to a report by Bloomberg, three sources familiar with the matter revealed that authorities in the United States and the Bahamas have been discussing the possibility of bringing SBF to the U.S. for questioning, while SBF himself has been cooperating with Bahamian authorities.

One of the sources mentioned that nobody has been arrested or detained in connection with the FTX incident, and SBF was only questioned by Bahamian police last Saturday, with no further plans disclosed involving U.S. officials.

FTX declared bankruptcy restructuring under Chapter 11 on the 11th, with the former CEO resigning and John J. Ray III taking over the position.

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SBF Continues to Tweet

SBF continues to tweet on 11/16, stating that a week ago, we had a daily trading volume of 10 billion and transfers in the billions. However, excessive leverage, runs, and a market crash have depleted liquidity. So what can I do? I can only raise funds to ensure user funds are redeemed, and then start over. I may fail, but I can only try.

15) A few weeks ago, FTX was handling ~$10b/day of volume and billions of transfers.

But there was too much leverage–more than I realized. A run on the bank and market crash exhausted liquidity.

So what can I try to do? Raise liquidity, make customers whole, and restart.

— SBF (@SBF_FTX) November 16, 2022

CZ: Trust is the Most Valuable Asset

Binance founder Zhao Changpeng CZ then tweeted, admitting mistakes and making amends is possible, but once your trust is bankrupt, you're finished.

There are honest mistakes you can recover from.

But once your credibility is gone, you are done.

— CZ 🔶 Binance (@cz_binance) November 16, 2022