SBF Claims FTX Had $13B of Leverage

SBF continues to explain on Twitter "WHAT HAPPENED", saying that FTX had around $13b of leverage.

SBF said his estimates of the exchange's leverage was roughly $5b, backed by around $20b of assets which had risks, including $FTT. When the crash came, the asset value collapsed, with no bid side liquidity, and there was a run on the bank at the same time. Roughly 25% of customer assets were withdrawn each day, which was around $4b. 

SBF added that he was wrong, and the leverage was not $5b, but $13b.