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The monetary particulars of the FTX saga should not surfacing fairly as rapidly because the guilty pleas. However Monday introduced some enjoyable bits of data for these of us nonetheless gawking on the wreckage nearly a yr later.
The primary was a presentation breaking down the asset-recovery efforts of FTX’s present administration:
The $7bn determine matches the estimates supplied by the management team earlier this yr, so this breakdown isn’t precisely new, however there are some enjoyable particulars nonetheless.
Within the chart above, the “Digital Property A” group is liquid crypto together with Bitcoin, Ethereum and the relatively-not-illiquid Solana. The “Digital Property B” seem like shitcoins, roughly, with the most important place $362mn of Serum (as of Aug. 31).
Additionally, huge congrats to FTX after last month’s Grayscale court ruling, we guess? The largest holding in FTX’s brokerage accounts is the Grayscale Bitcoin Belief, which has greater than doubled this yr due to its narrower low cost to NAV and Bitcoin’s rebound.
It has additionally acquired a handful of unsolicited questions on a few of its stakes in different companies, based on the presentation:
Administration can also be floating restarting FTX. ¯_(ツ)_/¯
Anyway, the second court docket submitting comes from the felony trial of Sam Bankman-Fried. SBF’s defence attorneys have requested the choose to ban testimony from Prof Peter Easton of Notre-Dame, who might be performing as an skilled witness for the prosecution. (A part of their argument appears to be that he’s not ok at computer systems to be an skilled.)
The federal government opposes that, after all, citing Easton’s experience and the work he has completed on the case so far. Find the prosecutors’ filing here.
However what’s most entertaining is that the federal government goes forward and reveals the professor’s ongoing work calculating Alameda’s historic balances with FTX — mainly the agency’s internet P&L — from final yr:
Ahahaha that’s unbelievable! Let’s look a bit nearer at that X-axis . . .
So for one lovely second final yr, Alameda booked (barely) optimistic efficiency. We predict it’s good that the terminally on-line younger crypto founders bought their want fulfilled for a day.
