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2min chapter
Full Summary of the FTX Spiral and Collapse
Let's Appreciate
Binance's FTX Balance Sheet
Binance becomes essentially a central bank. Most of their assets are either eliquid venture capital investments or crypto tokens that are not traded. There is this negative $8 billion entry described as hidden poorly internally labeled fiat ad account, which is apparently $8 billion that Sam Bankman free just accidentally sent to Alameda.
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