Initial Takeaways from the Implosion of FTX
Nov 8, 2022
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SBF vs. CZ
As we addressed in our daily note on Monday, one thing few can argue is that crypto always keeps things interesting.
As many know by now, two industry giants, FTX CEO Sam Bankman-Fried (SBF) and Binance CEO Changpeng Zhao (CZ), sparred over the weekend following circulating rumors that FTX was on the verge of insolvency.
To recap recent events:
Rumors initially emerged from a Coindesk report last week implying that a large percentage of SBF's trading firm Alameda's assets were denominated in $FTT. FTT is the exchange token of SBF's crypto exchange FTX.The prev...