FTX founder Sam Bankman-Fried apologized to staff in a letter that outlined a crash in "collateral" to $9 billion from $60 billion. Suvashree Ghosh reports on Bloomberg Television.

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Leading platform FTX has filed for bankruptcy as crypto prices fall below 2017 prices.

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Sam Bankman-Fried says collateral crashed $51 billion

Do objects, found her son, by who freed has apologized to staff in the letter. That outlined a crash in collateral from 60 billion dollars down to nine billion dollars in a court, hearing the lawyer for my tax status. If that's what amount of the group's assets are missing or stolen will Bloomberg reporter from the Singapore. So what do we do now? How does this look is this fraud? Like what are we looking at? Hi, yeah, it looks pretty bad. Firstly that you do SBF, sign Bank bank, when freed, he wrote a letter to FTX. So stop saying that, you know, he was apologizing for the, for the crib to collapse, a ticket to exchange, the value of the Run has crashed and how they were left with nine billion dollars worth of collateral and the liability was two billion dollars. He even said in the letter that he has, got that 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. That shows that, you know, although the contagion is pretty much going ahead and you know, it's a spilling over to other other XXX changes crypto companies brokerages and we have seen that happening across of it. In terms of in other markets are pretty much. You're pretty much, you know, table today. But it has come down from If it came down to November 2020, 20 levels, after this contagion spread.

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