News for hackers. Stuff that matters.

A comment on Major crypto trading firm Alameda Research might be insolvent. Parent comment

Re:Major crypto trading firm Alameda Research might be insol... by janmo on Friday November 04, 2022 @12:53PM (#33469888)
"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).

[ Parent | on HN ]
Re:Major crypto trading firm Alameda Research might be insol... by dcolkitt on Friday November 04, 2022 @01:50PM (#33470954)
No. The Voyager loan was denominated in crypto and at current prices represents only $200 million of liabilities (assuming they haven't already repaid).

https://cointelegraph.com/news/alameda-research-happy-to-ret...

[ Parent | on HN ]