Many Happy Returns cover image

The worst week in crypto history... so far.

Many Happy Returns

CHAPTER

The SDF Balance Sheet

The FT published a screenshot of what supposedly the actual spreadsheet. Doesn't look much like a balance sheet to me, it's kind of organised interestingly. There are two columns for the less liquid section than a de serum. They've marked it down to $2.2 billion where it says deliverable. And then before this week is the other column adjacent to it and that says $5.4 billion.

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