5min chapter

Hidden Forces cover image

The Downfall of FTX and Crypto’s Path Forward | Vance Spencer & Michael Anderson

Hidden Forces

CHAPTER

Cryptocurrency Bankruptcy

Vince: There's two types of white bets. The first is when a fund blows up, usually what that means is they were over leveraged. This time, it's different. We're in the second type of bankruptcy, which is exchange and solvency. And so that's what we're looking for right now. Vince: GBTC looks very weak. It looks like a bunch of people lenders have it on their balance sheet. Looks like they're trying to sell it. If this GBTC discount keeps widening, that's a really bad KPI for the health of the space.

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