Wednesday, October 11, 2023

Okay Another

Well MOST of the money might be there, so no harm, no foul, really!
Late in the book, you talk about trying to find where the lost billions of FTX customer deposits, before concluding that most of it wasn’t actually lost in the first place: “Where did all that money go? The answer? Nowhere. It was still there.” Can you explain this to me? If we are now at $8.6 billion in customer deposits lost, Mr. John Ray [who was brought in as FTX CEO after its collapse] has actually collected, as he claims, $7.3 billion of liquid assets. And he has not sold a lot of the VC [venture capital] portfolios. I’ve interviewed a couple traders who actually think they might get 100 cents on the dollar. I think this is a really interesting thing that has not gotten enough attention: how much of the money is still there.
The bestest boy might've only ripped off a billion bucks! ONLY A BILLION!