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A comment on Binance Acquires FTX. Parent comment
+ the bank (FTX) was likely massively over leveraged
+ the bank's primary assets were likely not very liquid
Both of above are speculation. However, why else be forced to sell (1) to Binance?
(1) Matt Levine makes his usual solid argument as to why the price was likely zero, other than cashing out FTX debt: https://www.bloomberg.com/opinion/authors/ARbTQlRLRjE/matthe...
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+ the bank (FTX) was likely massively over leveraged
+ the bank's primary assets were likely not very liquid
Both of above are speculation. However, why else be forced to sell (1) to Binance?
(1) Matt Levine makes his usual solid argument as to why the price was likely zero, other than cashing out FTX debt: https://www.bloomberg.com/opinion/authors/ARbTQlRLRjE/matthe...