Jan 13 • 1HR 34M

ROLLUP: Crypto Rallies | Gemini vs Barry Silbert | Game of Thrones NFT | Ethereum Liquid Staking

2nd Week of January, 2023

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Summary In mid November, FTX International became effectively insolvent. The FTX saga, at the end of the day, is somewhere between that of Voyager and Celsius. Three things combined together to cause the implosion: a) Over the course of 2021, Alameda’s balance sheet grew to roughly $100b of Net Asset Value, $8b of net borrowing (leverage), and $7b of liqu…
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