SBF Says Collateral Crashed by $51 Billion as FTX Fell

SBF apologized to staff in a letter that outlined a crash in collateral to $9 billion from $60 billion.

"I didn’t mean for any of this to happen, and I would give anything to be able to go back and do things over again. I did not realise the full extent of the margin position, nor did I realise the magnitude of the risk posed by a hyper-correlated crash." he wrote in the message sent to employees Tuesday and obtained by Bloomberg News.