The Collapse of FTX | 24 hours later
Bankless
FTX Crisis and Its Aftermath
This chapter explores the negotiation dynamics and ramifications of the FTX crisis, particularly its impact on the company’s founder and legal challenges. It discusses Binance's withdrawal from acquisition negotiations, highlighting the financial turmoil and loss of confidence in the cryptocurrency market. The conversation also considers the regulatory pressures and historical precedents of failures in the crypto industry through critical analysis of the intertwined fates of FTX and Alameda Research.
The craziest 48 hours in crypto history? From the apparent takeover of FTX by Binance to no more takeover to SBF now being probed by U.S. regulators.
As the dust settles, we cover everything that’s unfolded in the last 24 hours and how it’ll reshape crypto moving forward.
If you missed yesterday’s stream where we go over the timeline of how all this happened and got industry leaders Brian Armstrong, Erik Voorhees, & Ryan Selkis to share their thoughts—you can find it here: https://youtu.be/LDtZyMcaaNY
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------ Timestamps:
0:00 Intro 5:05 The Recap https://twitter.com/wassielawyer/status/1590025892994371584 https://twitter.com/RyanSAdams/status/1590150120250966016 14:37 Our Mood 25:00 The Story Continued https://twitter.com/cz_binance/status/1590351182513729544 29:50 SBF Deleting Tweets https://twitter.com/ledgerstatus/status/1590115753331937281 31:27 Ooof https://twitter.com/ercwl/status/1590165313190260737 https://twitter.com/Snowden/status/1590319361863995394 33:35 SBF Letter to Investors https://twitter.com/WClementeIII/status/1590107340317294593 35:20 UPDATE https://www.coindesk.com/business/2022/11/09/binance-is-strongly-leaning-toward-scrapping-ftx-rescue-takeover-after-first-glance-at-books-source/ https://twitter.com/Blockworks_/status/1590441854960820224 37:35 US Probes FTX https://www.bloomberg.com/news/articles/2022-11-09/us-probes-ftx-empire-over-handling-of-client-funds-and-lending 39:30 https://twitter.com/tier10k/status/1590444221525278721 https://twitter.com/tier10k/status/1590394410151251968 https://twitter.com/depression2019/status/1590383943358218240 43:26 Alameda Website Dead https://twitter.com/WClementeIII/status/1590406041250181120 https://12ft.io/proxy?q=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fbinance-is-said-to-be-likely-to-walk-away-from-deal-to-buy-ftx-11668020963 44:20 How This Happened? https://twitter.com/LucasNuzzi/status/1590122590206824448 1:02:00 Binance Tweets https://twitter.com/binance/status/1590449161069268992 Onchain flows https://www.coindesk.com/markets/2022/11/09/these-four-key-charts-shed-light-on-the-ftx-exchanges-spectacular-collapse/ https://twitter.com/LucasNuzzi/status/1590122590206824448 1:05:07 Convo Starter https://twitter.com/crypto_condom/status/1590338735606231041 1:08:05 10% of Multicoin on FTX https://twitter.com/TheBlock__/status/1590349978873913350 1:09:39 Galaxy Exposure to Alameda https://www.theblock.co/post/184262/galaxy-digital-reveals-ftx-exposure-in-q3-earnings-report 1:10:00 FTX Investors https://twitter.com/fintechfrank/status/1590145184020328448 1:10:46 Other Chains https://twitter.com/dunleavy89/status/1590056663767449600 1:11:15 FTX.US is Okay https://www.axios.com/2022/11/09/ftx-us-american-subsidiary-impact-liquidity-crunch 1:11:30 Emotions https://twitter.com/0xfoobar/status/1590204552891899907 https://twitter.com/cobie/status/1590188580483497985 https://twitter.com/shaughnessy119/status/1590201528014753792 https://twitter.com/lawmaster/status/1590238771915935744 People Selling their FTX Balances https://twitter.com/TensaiCapital/status/1590301595237224449 SBF Down Bad ATH https://twitter.com/econoar/status/1590130144815218689 1:20:25 CZ Tweets https://twitter.com/cz_binance/status/1590313459132305408 1:22:00 Solana Unlocks https://twitter.com/thedata_nerd/status/1590307325650182144 1:27:00 Coinbase Gud https://twitter.com/ViktorBunin/status/1590064600178835457 1:27:16 The Meta Question https://twitter.com/BanklessHQ/status/1590341304172838913 1:27:30 What Happened & Closing Thoughts 1:34:05 Risks & Disclaimers 1:34:35 Leaving you with Larry David https://twitter.com/LilMoonLambo/status/1590145235291893760
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures
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