Weekly Roundup 11/10/22 (FTX fiasco, Su Zhu and Do attempt comebacks, Proof of Reserves redemption) (EP.370)

Nic and Matt return for one of the craziest weeks in crypto history. In this episode:  Coin Metrics makes a key on-chain discovery regarding FTX’s insolvency Will Castle Island buy the naming rights to the Miami Heat arena? What in the hell happened to FTX/Alameda? How big is the hole in FTX’ balance sheet Was FTX/Alameda insolvent as early as Q2? How this is reminiscent of the Bitfinex/Tether transaction? What did CZ see that caused him to catalyze the attack on FTX? How did FTX pass an audit? Who will be affected by the FTX collapse? How this will affect the already impaired crypto lenders We revisit some of the recent departures from FTX/Alameda This explains why FTX was bailing out the lenders in Q2 Will FTX US be firewalled off here? Could this crisis have been forecasted? Did Sam perjure himself in front of Congress? Gensler’s responsibility in the FTX fiasco Su Zhu is trying to do a redemption arc Why is Su Zhu surfing? Possible regulatory consequences What are the midterm consequences for crypto? A failure of corporate governance at FTX Some venture funds were attesting to the solvency of FTX while withdrawing funds FTX is selectively processing withdrawals to Bahamanian entities Silver linings from the crisis Proof of Reserves is having a moment Sam’s crypto agenda in DC is thankfully dead SBF was somehow an LP in Sequoia and Paradigm Setting the record straight on Tom Brady Sponsor notes: Talos powers institutional access to the entire digital assets ecosystem via a single-point of entry. Connect directly to your preferred prime brokers, lenders, investors, custodians, exchanges, OTC desks and more, or meet them on Talos. Get started at Talos.com Subscribe to the Coin Metrics State of the Network newsletter