Beyond Bitcoin Ep 62 — FTX Agrees to Sell Itself to Rival Binance.
Is the Driver Robust Competition or Opaque Disclosures and Why Has the Market Reacted So Strongly.
As the credibility of the crypto asset class takes another hit prices are down and we ask the question; is this about disclosure or corporate opportunity? Alameda a wholly owned subsidiary of FTX with what was considered a robust balance sheet turns out to hold mostly digital assets either created by FTX or funded by FTX. Tradfi is likely to dine on this for weeks but for the world’s newest asset class it is likely to be another case of growing pains.