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FTX fallout: Sequoia's LP letter, SBF's crisis comms + Lon Harris on Andor, $DIS earnings | E1609
This Week in Startups
FTX's Liquidity Is Not Delivered
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He said FTX international does not have liquidity for delivery he went on to peg some of the reasons for this complete collapse on quote poor internal labeling of bank related accounts. He also pointed out that there were five billion dollars of withdrawals on Sunday which is where we should note that on Monday he then tweeted everything is fineWe have more than enough liquidity but those people were able to withdraw. The Wall Street Journal reports that Alameda research borrowed oops which I think is a loose term 10 billion dollars in customer deposits from FTX. According to this investor FTX had 16billion dollars in customer assets and lent out over 50% of them to Alameda as we have described the decision as a quote
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