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The monetary particulars of the FTX saga will not be surfacing fairly as shortly because the guilty pleas. However Monday introduced some enjoyable bits of data for these of us nonetheless gawking on the wreckage nearly 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 offered 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 Property A” group is liquid crypto together with Bitcoin, Ethereum and the relatively-not-illiquid Solana. The “Digital Property B” seem like shitcoins, kind of, with the largest place $362mn of Serum (as of Aug. 31).
Additionally, large 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 due to its narrower low cost to NAV and Bitcoin’s rebound.
It has additionally obtained a handful of unsolicited questions on a few of its stakes in different companies, in line with the presentation:
Administration can also be floating restarting FTX. ¯_(ツ)_/¯
Anyway, the second courtroom submitting comes from the prison trial of Sam Bankman-Fried. SBF’s defence attorneys have requested the decide to ban testimony from Prof Peter Easton of Notre-Dame, who can be appearing as an professional witness for the prosecution. (A part of their argument appears to be that he’s not ok at computer systems to be an professional.)
The federal government opposes that, after all, citing Easton’s experience and the work he has achieved on the case up to now. 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 X-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 acquired their want fulfilled for a day.