

Genesis' potential insolvency & FTX collapse with Cosmo Jiang
23 snips Dec 22, 2022
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Long-Term Crypto Resilience
- Cosmo Jiang argues the FTX and Genesis failures won't derail crypto's long-term innovation arc.
- He highlights Ethereum's trustless layer and tokenized capital as paradigm shifts that persist.
Withdrawing Early From FTX
- Cosmo describes withdrawing his funds from FTX early after rumors surfaced and avoiding material losses.
- He credits constant monitoring and quick action for protecting his fund and investors.
Alameda-Funded Exchange Conflict
- Alameda seeded FTX liquidity and held special privileges that created conflicts of interest.
- Those ties and Alameda's losses ultimately exposed FTX to a run and collapse within days.