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A comment on /story/33867611.
…and also extends Alameda a $680 million loan collateralized by now worthless FTT tokens…
…while BlockFi’s trading desk deploys $355 million to the FTX exchange..
…unfortunately, BlockFi’s risk management team failed to see the GBTC/3AC crypto winter and loses almost ~$1 billion of depositor funds…
..but to avoid bankruptcy FTX extends a $400 million credit facility to BlockFi collateralized by the now worthless FTT tokens…
..only to have Alameda Research caught in its own liquidity crunch vis-a-vis the downward pressure of the FTT ponzi token…
..to stop the bleeding SBF personally guarantees Alameda’s $680 million loan via his Robinhood stake…
….through a shell company called Emergent…
…which legally operates at arm’s length from FTX…
…but is controlled by SBF…
and funded by FTX revenues!
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…and also extends Alameda a $680 million loan collateralized by now worthless FTT tokens…
…while BlockFi’s trading desk deploys $355 million to the FTX exchange..
…unfortunately, BlockFi’s risk management team failed to see the GBTC/3AC crypto winter and loses almost ~$1 billion of depositor funds…
..but to avoid bankruptcy FTX extends a $400 million credit facility to BlockFi collateralized by the now worthless FTT tokens…
..only to have Alameda Research caught in its own liquidity crunch vis-a-vis the downward pressure of the FTT ponzi token…
..to stop the bleeding SBF personally guarantees Alameda’s $680 million loan via his Robinhood stake…
….through a shell company called Emergent…
…which legally operates at arm’s length from FTX…
…but is controlled by SBF…
and funded by FTX revenues!