In the spring, FTX exchange CEO Sam Bankman-Fried offered employees a 50% discount on equity in the company.
According to a person familiar with the situation, FTX CEO Sam Bankman-Fried sold equity in the company to employees at a 50% discount in the spring.
According to the person, approximately 20 people were fired in June across the organization due to poor performance.
Separately, Zane Tackett, former head of institutional sales at FTX, appears to have been fired on November 10, according to his tweet.
Bloomberg first reported that current FTX employees are scrambling to sell assets, adding to the confusion.
In the midst of a crisis, FTX is looking for liquidity. Binance, the largest crypto exchange by trading volume backed out of a deal to buy FTX.com a day later, leaving FTX to fend for itself.
On Thursday, SBF issued an apology on Twitter, saying he should’ve done better.
SBF acknowledged to investors that he “should have done better” in terms of being transparent about the situation with FTX in a thread on Twitter on November 10.