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Thread: FTX implosion

  1. #1

    Default FTX implosion

    Seems to be a rather deep rabbit hole.

    FTX Held Just $900MM In Liquid Assets Vs $9BN In Liabilities As Video Emerges Confirming Alameda Knew It Was Pilfering Client Funds

    https://www.zerohedge.com/markets/ft...g-alameda-knew

    On Friday, we first learned courtesy of a mystery twitter account belonging to an anonymous FTX insider, that the now bankrupt crypto exchange held just $900 million in liquid assets (including, among other things, a $7.3 million online bet by Democrat megadonor Sam Bankman-Fried for Trump to lose).


    Source: minigrogu

    Of the $900 million in liquid assets, the largest portion - or roughly half - was in the form of $470mn of Robinhood shares owned by a Bankman-Fried vehicle not listed in Friday’s bankruptcy filing, which included 134 corporate entities. The liquid assets represent just 10% of the total assets (including $5.4BN in semi-liquid and $3.2BN in illiquid) and is a fraction of the $9 billion in liabilities at FTX which will now make their way through bankruptcy court for the next several years.
    What's the Frequency, Kenneth?

    432Hz

  2. #2

    Default

    Theft At FTX

    https://www.zerohedge.com/news/2022-...ight-theft-ftx

    Saturday Evening Update
    A good summary of the FTX saga prior to Friday night's brazen theft:

    What happened at FTX is straight-forward. FTX lent US$10bn of client funds to their trading arm Alameda, which used it for leveraged crypto speculation. Alameda blew up in crypto meltdown & can't repay. Ppl got whiff of this & tried to pull US$5bn from FTX. FTX didn't have it.

    — Lyall Taylor (@LT3000Lyall) November 11, 2022
    Our correspondent Anatoly Karlin, who predicted the Russian invasion of Ukraine and, before that, the COVID crash, predicted FTX's downfall too (although it didn't require Bitcoin to drop as low as he thought).

    Alameda gambled on ****coins is underwater and will pop like Celsius when BTC goes below $15k.

    FTX goes under.

    Interpol arrest warrant for SBF and numerous other crypto crooks.

    — Anatoly Karlin 🐘 (@powerfultakes) August 24, 2022
    What's the Frequency, Kenneth?

    432Hz

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