SBF

@SBF_FTX ↗

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Last Checked April 3, 2023

Created

Wed Nov 16 19:09:32 +0000 2022

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SBF @SBF_FTX

20) I was on the cover of every magazine, and FTX was the darling of Silicon Valley. We got overconfident and careless. — PolitiTweet.org

Posted Nov. 16, 2022

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SBF @SBF_FTX

19) Once upon a time--a month ago--FTX was a valuable enterprise. FTX had ~$10-15b of daily volume, and roughly $1b of annual revenue. $40b of equity value. And we were held as paragons of running an effective company. — PolitiTweet.org

Posted Nov. 16, 2022

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SBF @SBF_FTX

21) And problems were brewing. Larger than I realized. [AGAIN THESE NUMBERS ARE APPROXIMATE, TO THE BEST OF MY KNOWLEDGE, ETC.] Leverage built up-- ~$5b of leverage, backed by ~$20b of assets which were.... Well, they had value. FTT had value, in EV! But they had risk. — PolitiTweet.org

Posted Nov. 16, 2022