EXCLUSIVE: Read Sam Bankman-Fried's Email to the Investors He's Ghosting

SBF announced today that the FTX.com is selling to Binance

I’ve got an email from FTX CEO Sam Bankman-Fried to his investors that was sent today. The subject line is “FTX Update.”

You can read it below.

SBF announced this morning that he’s selling FTX.com to rival Binance in what appears to be a fire sale. Many investors seem to have been left in the dark.

This is the closest yet that we’ve come to dot-com crisis 2.0.

Eric Newcomer@EricNewcomer

Sequoia invested in a $420m round in FTX at a $25B valuation in October 2021 and a consortium with Paradigm invested $400M at $32B in January 2022. And now it's selling in a fire sale? This is a truly crazy event in startup world. Dot-com bust level event

4:38 PM · Nov 8, 2022

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Here’s the email from Sam Bankman-Fried to his investors.