@Bragato18 24 November 2022 more from that month

What a month this has been. Nov 2 CoinDesk published an article about the balance sheet of Alameda Research. Alameda Research was an affiliated hedge fund controlled by SBF, that had become one of the industry’s most prestigious trading firms. The report sparked questions and concerns, as it revealed that more than $5B of Alameda’s $8B liabilities were collateralized against the FTT token, a token that was primarily owned by FTX and Alameda. Nov 6 CZ tweeted that they would be liquidating the remainder of their FTT position, that had previously been acquired in connection with exiting their original investment in FTX. The tweet caused an immediate sell off of FTT and other cryptocurrencies, as well as a “run” on FTX to withdraw assets. Nov 7 FTX halted non-fiat withdrawals amid $6 billion in outflows in a 72-hour period. Nov11 FTX and its subsidiaries file for bankruptcy; Alameda Research announced it would also be shut down. SBF steps down as CEO of FTX. recap from the Grayscale November Newsletter. topics covered - Market Commentary - Unpacking FTX & Alameda Research - Is DeFi the Solution?