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We (the public) don't yet know how bad it is. CEO of Coinbase, Brian Armstrong said he was also not interested in an acquisition after a small amount of DD. He
by dibt 4y ago
We (the public) don't yet know how bad it is. CEO of Coinbase, Brian Armstrong said he was also not interested in an acquisition after a small amount of DD. He said we will likely find out how bad it is eventually.
- Scoundreller 4y ago> not interested in an acquisition after a small amount of DD Sounds like liabilities exceeded assets
- FormerBandmate 4y agoJudging by the Alameda leaked balance sheet, a huge part of assets and probably more than 100% of equity was in FTT which is now essentially worthless
- paulusthe 4y agoIf we had one for binance, it would show a ridiculous amount of tether and other coins which they probably own a majority of, meaning their balance sheet is similarly comprised of assets they can't actually price or expect to be able to sell at market value
- carnitine 4y agoTether can be liquidated via the Tether Foundation.
- maxbond 4y agoAnd surely the buck stops with the Tether Foundation, who stand ready to cash Binance out, and they won't need to dump a bunch of risky assets and possibly not net enough to meet Binance's needs
- snapcaster 4y agoHow do you know this? was googling around but didn't find much of anything
- dibt 4y agoThere's a balance sheet floating around: https://docs.google.com/spreadsheets/d/1dSG6ER9N_YABnmUKzKaeUikZ2-isBQpL/edit#gid=2071322894 https://docs.google.com/spreadsheets/d/1dSG6ER9N_YABnmUKzKae... Source: https://twitter.com/cobie/status/1590384255091499008 https://twitter.com/cobie/status/1590384255091499008 Could be fake. Edit: Looks like the parent commenter was referring to Binance's balance sheet, which might be what you were asking about. The balance sheet I linked is FTX+Alameda.