SBF

@SBF_FTX ↗

Deleted No

Hibernated No

Last Checked April 3, 2023

Created

Wed Nov 16 19:09:33 +0000 2022

Likes

679

Retweets

Source

Twitter Web App

View Raw Data

JSON Data

View on Twitter

Likely Available

SBF @SBF_FTX

22) And that risk was correlated--with the other collateral, and with the platform. And then the crash came. In a few day period, there was a historic crash--over 50% in most correlated assets, with no bid side liquidity. And at the same time there was a run on the bank. — PolitiTweet.org

Posted Nov. 16, 2022

Preceded By

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

Followed By

SBF @SBF_FTX

23) Roughly 25% of customer assets were withdrawn each day--$4b. As it turned out, I was wrong: leverage wasn't ~$5b, it was ~$13b. $13b leverage, total run on the bank, total collapse in asset value, all at once. Which is why you don't want that leverage. --- — PolitiTweet.org

Posted Nov. 16, 2022