Matt Levine Weighs In on the Post-FTX Crypto Ecosystem
Bloomberg Crypto
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What Should the Balance Sheet of FTX Look Like?
"This is the balance sheet of stuff they couldn't give to their customers. And it's terrible stuff, but it's basic," he says. "It's an Excel file full of the howling of ghosts and the shrieking of tortured souls." He adds: "If you look too long at that spreadsheet, you will go insane" 'I actually have a quote from one of your recent columns I love it so much,' writes CNN Tech columnist Katie Couric. "'You're doing a lot of leveraging where you're sort of like effectively borrowing money to lend to customers' -- what should FTX or a company like FTX have looked like? What should it have looked like?"
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