I interpreted it as him saying that, even with FTT 80% down (and similar for other holdings), they still have enough to cover customer balances. And I’m saying that would only be true in theory as the price could still go down a lot further (and would if they liquidated all their holdings). According to the balance sheets, they held something close to the entire marketcap of FTT as based on circulating coins even before the crash. It’s unlikely they’ve sold even a tiny fraction of that.
The ones that were reported by Coindesk and others last week, for which their legitimacy wasn’t disputed (although here Caroline claims there is more).
If it was just a liquidity issue, surely you’d think they would’ve been able to fix it by now. It’s quick and easy to sell crypto tokens, even OTC.
I interpreted it as him saying that, even with FTT 80% down (and similar for other holdings), they still have enough to cover customer balances. And I’m saying that would only be true in theory as the price could still go down a lot further (and would if they liquidated all their holdings). According to the balance sheets, they held something close to the entire marketcap of FTT as based on circulating coins even before the crash. It’s unlikely they’ve sold even a tiny fraction of that.
Are you saying you have the balance sheets for FTX? Can you link?
Unfortunately, I think what you’re saying is omitting liabilities, and that makes it very uninformative.
The ones that were reported by Coindesk and others last week, for which their legitimacy wasn’t disputed (although here Caroline claims there is more).
If it was just a liquidity issue, surely you’d think they would’ve been able to fix it by now. It’s quick and easy to sell crypto tokens, even OTC.
Those are Alameda balance sheets.
Fair enough. WSJ story here saying that Alameda owed FTX $10B!