- Former Enron lawyer brought in to liquidate FTX, as SBF resigns. Under the circumstances a Chapter 11 is probably the best that could happen, ensuring a more orderly wind down of FTX/sale of viable parts of the business, rather than letting SBF and his roommates continuing to run the shitshow.
- And now FTX has been hacked.
- CZ warns of ‘cascading’ crypto crisis.
- CZ is also FT’s Person of the week: “one of the greatest corporate attacks that has ever happened”?
- Crypto’s future may be divided, not dead, argues FT’s crypto agnostic Gillian Tett
- Early draft of asset side of FTX’s balance sheet: Note no BTC, mostly SBF-linked shitcoins, almost a billion (marked to market?) of Solana — liabilities listed in wide range of $10–50 billion.
- FTX ambassador Kevin O’Leary still optimistic about crypto despite fallout, but calls for Washington to urgently pass stablecoin regulation — sort of echoing Michael Saylor.
- A lot more claims to bitcoin ownership than bitcoins in existence.
- No more Effective Altruism for FTX Future Fund as money for charitable commitments vaporize and team resigns.
- Was she qualified to run a multi-billion dollar crypto trading fund?
FTX developments
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