“It was a combination of the crash in the spring that took 50% out of asset values, combined with a hyper-correlated crash scenario this month in which simultaneously we saw a 50% decline in relevant asset prices over a two-day period, combined with a complete run on the bank on FTX, combined with the fact that there’s a margin position on FTX that was substantially larger than it appeared to be,” Bankman-Fried said.
Source: https://www.coindesk.com/business/2022/11/29/sam-bankman-fried-addresses-withdrawals-ftx-collapse-in-newly-released-audio-interview/?utm_medium=referral&utm_source=rss&utm_campaign=headlines