FTX CEO Sam Bankman-Fried recently admitted that his team “sure should have” done more to protect customers’ funds after the company was accused of creating “artificial scarcity” of some cryptocurrency tokens. The company was criticized for allegedly manipulating the market by releasing a limited supply of certain assets. Bankman-Fried said he was aware of the issue and was actively working to resolve it. He said the company was conducting an internal review to better understand what happened and ensure that customers’ money was safe. He also said that the company has already taken steps to address its concerns, such as implementing a “stricter anti-manipulation policy” and providing more transparency for the futures market. Bankman-Fried concluded by saying that the team is “committed to making sure our customers can trust us with their funds” and that they will “continue to focus on finding ways to improve our platform.”
