- FTX fallout continues
- Genesis ($3b in active loans) is suspending redemptions and new loan originations.
- Interesting that Genesis' owner also owns Coindesk, who originally broke the story
- SBF tweeted mentioning 5.5b of "semi" liquid assets. Consensus is that's word salad.
- Term sheet leaked - apparently looking for 6 to 10b from investors.
- Sam chatting to Dave Portnoy about an interview.
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- NY times interviewed Sam & Caroline and wrote very favourable piece. How they explained what happened:
- Alameda took out loans to fund VC investments. Lenders recalled loans but funds weren't liquid (this doesn't make sense, who borrows for long term high risk VC type investments with unknown payout periods?)
- Sam's comment on the weird cryptic tweets - "I'm making it up as I go. I'm improvising. I think it's time" - so bizzarre.
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