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They haven’t lost 16b though. Unclear if we have accurate info from Sam but the situation is more like 9b in liabilities with 70% of that in liquid and illiqui
by elie222 4y ago
They haven’t lost 16b though.
Unclear if we have accurate info from Sam but the situation is more like 9b in liabilities with 70% of that in liquid and illiquid assets. People getting back that much is highly optimistic but the 16b doesn’t seem accurate at all. FTX already paid users out $5b btw
- jjfoooo6 4y agoIt's pretty clear that "info from Sam" can't by trusted
- deleted 4y ago[deleted]
- shawabawa3 4y ago> 9b in liabilities with 70% of that in liquid and illiquid assets They have $9B in liabilities, and realistically they have about $1B in realisable assets. On the balance sheet Sam has included about $7B worth of Serum and FTT, both of which vastly exceed their circulating market cap and are also effectively worthless as the businesses they represent have lost all credibility and/or are insolvent (Serum is a decentralised exchange created by FTX)
- anonymoushn 4y agoThe starting point is the assumption that FTX's equity sales left them with a few billion and Alameda's trading left them with a few billion. You have to burn through these billions and then dig a ten billion dollar hole.