[Another early launch! Today I really ought to be done by 7:30 EST. Please come back then]
Since FTX is due to lodge a big filing in bankruptcy court tomorrow, which among other things is expected to provide more detail on the unwind, it seems prudent to wait for more juicy details…save making sure a couple of juicy details already public don’t get lost in the shuffle.
Even though there’s a widespread assumption that Sam Bankman-Fried and his main partners did a whole bunch of things not on the up and up beyond operating a trading business while insisting staff be high on drugs known to blunt inhibitions about risk and then lose boatloads of money on bad wagers and investments, we don’t yet know that for sure.
But turn over a few obvious rocks that do not require expertise in crypto and one finds far too many creepy-crawlies.
