>
The Hidden Secrets of Natural Milk
Diddy Trial Drama: Star Witness Vanishes Ahead Of Explosive Testimony
PTSD treatment that excites a nerve in your neck wipes symptoms completely
High-tech lactation pad measures medication in mothers' milk
Cab-less truck glider leaps autonomously between road and rail
Can Tesla DOJO Chips Pass Nvidia GPUs?
Iron-fortified lumber could be a greener alternative to steel beams
One man, 856 venom hits, and the path to a universal snakebite cure
Dr. McCullough reveals cancer-fighting drug Big Pharma hopes you never hear about…
EXCLUSIVE: Raytheon Whistleblower Who Exposed The Neutrino Earthquake Weapon In Antarctica...
Doctors Say Injecting Gold Into Eyeballs Could Restore Lost Vision
Dark Matter: An 86-lb, 800-hp EV motor by Koenigsegg
Spacetop puts a massive multi-window workspace in front of your eyes
Ten days later the third largest Crypto exchange in the world was bankrupt and its founder was under international investigation for fraud.
In this article I'll go through how Crypto giant FTX fell apart. There is a lot of backstory to this situation which I'll cover in a following article, discussing the beginnings of Alameda research and the story of how a sketchy hedge fund turned into a major exchange.
As you've no doubt heard repeatedly this week, self custody of your Crypto is the safest approach until we know who is insolvent and the extent of the contagion. If you're not confident with self custody, Coinbase and Kraken seem to be the safest Crypto exchanges, but that is still a counterparty risk that I'm not willing to take personally in these market conditions.
The Balance Sheet Leak
The exclusive scoop from Coindesk looked bad for Alameda Research. The firm, which performed market making on FTX as well as taking directional bets and venture capital investments, seemed insolvent on a realized value basis.
Their balance showed $14.6 billion in assets held against $8 billion in liabilities. On paper solvent on a mark-to-market basis, but digging in there was no way that mark was reasonable.