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The monetary particulars of the FTX saga usually are not surfacing fairly as rapidly because the guilty pleas. However Monday introduced some enjoyable bits of knowledge for these of us nonetheless gawking on the wreckage virtually a 12 months later.
The primary was a presentation breaking down the asset-recovery efforts of FTX’s present administration:
The $7bn determine matches the estimates supplied by the management team earlier this 12 months, so this breakdown isn’t precisely new, however there are some enjoyable particulars nonetheless.
Within the chart above, the “Digital Belongings A” group is liquid crypto together with Bitcoin, Ethereum and the relatively-not-illiquid Solana. The “Digital Belongings B” seem like shitcoins, kind of, with the largest place $362mn of Serum (as of Aug. 31).
Additionally, huge congrats to FTX after last month’s Grayscale court ruling, we guess? The largest holding in FTX’s brokerage accounts is the Grayscale Bitcoin Belief, which has greater than doubled this 12 months because of its narrower low cost to NAV and Bitcoin’s rebound.
It has additionally acquired a handful of unsolicited questions on a few of its stakes in different companies, based on the presentation:
Administration can also be floating restarting FTX. ¯_(ツ)_/¯
Anyway, the second court docket submitting comes from the legal trial of Sam Bankman-Fried. SBF’s defence attorneys have requested the choose to ban testimony from Prof Peter Easton of Notre-Dame, who can be appearing as an skilled witness for the prosecution. (A part of their argument appears to be that he’s not ok at computer systems to be an skilled.)
The federal government opposes that, in fact, citing Easton’s experience and the work he has finished on the case to date. Find the prosecutors’ filing here.
However what’s most entertaining is that the federal government goes forward and reveals the professor’s ongoing work calculating Alameda’s historic balances with FTX — principally the agency’s web P&L — from final 12 months:
Ahahaha that’s unimaginable! Let’s look a bit nearer at that XY-axis . . .
So for one stunning second final 12 months, Alameda booked (barely) constructive efficiency. We expect it’s good that the terminally on-line younger crypto founders obtained their want fulfilled for a day.
