2min chapter

Clearer Thinking with Spencer Greenberg cover image

The FTX catastrophe (with Byrne Hobart, Vipul Naik, Maomao Hu, Marcus Abramovich, and Ozzie Gooen)

Clearer Thinking with Spencer Greenberg

CHAPTER

The SPF Balance Sheet

On November 7, SPF tweeted the following: "FTX is fine. FTX has enough to cover all client holdings" Some people think that this was a purposeful attack to try to create a bank run on FTX from one of its large competitors. Other people think it was just CZ being prudent because of new information that had come to light. At this point, SPF was hunting around for someone to help bail them out. In that process, it seems that SPF or someone else in this team hastily threw together a balance sheet,. which is essentially just a spreadsheet trying to show their assets and liabilities. And well, I'm now going to give you a really long

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