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SBF: Pre-bankruptcy Leverage Not About $5 Billion, but About $13 Billion

By Simon LawsonNovember 17, 20221 Min Read
SBF: Pre-bankruptcy Leverage Not About $5 Billion, but About $13 Billion
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FTX founder SBF said in a post that FTX was a valuable company a month ago. FTX has a daily trading volume of about $10 billion to $15 billion, an annual revenue of about $1 billion, and an equity value of up to $40 billion.

FTX is known as a model of efficient operating companies and is the darling of Silicon Valley. But overconfidence and carelessness lead to problems brewing. A historic crash followed in the days that followed, with most related assets plummeting more than 50%.

At the same time, there was a run, with roughly 25% of client assets being withdrawn every day. Leverage is as high as $13 billion, not $5 billion as previously thought. High leverage, a run on funds, and a total collapse in asset values all happened suddenly and simultaneously.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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