Insolvency happens on an entity by entity level. I don’t know which FTX entity gave money to EA orgs (if anyone knows, please say), and whether it went first via the founders personally. I would have thought it’s possible that FTX full repays its creditors, so there is value in the shares, but then FTX’s investors go after the founders personally and they are declared bankrupt.
If I remember a report from Ray et al. correctly, there were a bunch of intertwined bank accounts. I believe some transactions were made from Alameda-owned accounts, some from North Dimension-owned accounts, etc. without much rhyme or reason.
Insolvency happens on an entity by entity level. I don’t know which FTX entity gave money to EA orgs (if anyone knows, please say), and whether it went first via the founders personally. I would have thought it’s possible that FTX full repays its creditors, so there is value in the shares, but then FTX’s investors go after the founders personally and they are declared bankrupt.
If I remember a report from Ray et al. correctly, there were a bunch of intertwined bank accounts. I believe some transactions were made from Alameda-owned accounts, some from North Dimension-owned accounts, etc. without much rhyme or reason.