"Most of the liabilities on their balance sheet are probably these token deals, rather than loans made in hard currency." No... We know that they owe $650m USD

"Most of the liabilities on their balance sheet are probably these token deals, rather than loans made in hard currency." No... We know that they owe $650m USD to Voyager Digital and they haven't repaid it yet, instead after failing to bail out Voyager, SBF is trying to acquire its assets with a VERY shady scheme through FTX. We also know that SBF has spent a lot of effort to bail out BlockFi, and I am confident they are one of Alameda's biggest creditor, we know that BlockFi only lends stables, BTC, ETH and a few other bluechip coins, no FTT, MAPS etc... So everything is indicating that Alameda's liabilities are in USD/BTC/ETH, while their assets are FTT, MAPS, a few SOL and other low liquidity "shitcoins". Seems like what Alameda was doing is to take out loans to pump some shitcoins and mainly its own (FTT).