FTX fiasco: Disgraced founder Sam Bankman-Fried explains crash in emotional apology to staff
Sam Bankman Fried's FTX was burdened by debt, and the revelation triggered mass withdrawals by clients. SBF has apologised to his 600 employees for the debacle that has left them vulnerable. While apologising for disappointing everyone, SBF wrote that his old house now resembles a deserted computer warehouse, with no one to talk to. He also apologised for freezing under pressure and not communicating the extent of the decline to employees.