FTX CEO Sam Bankman-Fried told investors that the exchange faces a shortfall of up to $8 billion, per Bloomberg.
FTX needs emergency funding or it will face bankruptcy, Bankman-Fried told investors, per Bloomberg.
FTX faces a shortfall of up to $8 billion and was trying to raise $4 billion to stay solvent, Bloomberg reported.
"I f---ed up," Bankman-Fried told investors, the media outlet reported.
He repeatedly told investors Binance wasn't giving up on the deal, according to Bloomberg.