Why? Coin Desk’s leak—which set off the death spiral—is clear enough. Multiple investors that SBF tried to get bail-out funds from have told the WSJ and FT that SBF admitted to loaning out customer funds to Alameda. Binance pulled out of the deal for a reason. There is plenty of data online about FTX’s movements on the blockchain. And, of course, there’s the obvious fact that SBF is now very publicly looking for $8bn of funding to cover FTX’s liabilities.
Why? Coin Desk’s leak—which set off the death spiral—is clear enough. Multiple investors that SBF tried to get bail-out funds from have told the WSJ and FT that SBF admitted to loaning out customer funds to Alameda. Binance pulled out of the deal for a reason. There is plenty of data online about FTX’s movements on the blockchain. And, of course, there’s the obvious fact that SBF is now very publicly looking for $8bn of funding to cover FTX’s liabilities.