I'd like to know mean and median balance tho.
I'm technically a creditor, I'd assume, for 2 dollars or so I had on there after I passed some funds through (as an offramp) a good while back.
I'd like to know mean and median balance tho.
I'm technically a creditor, I'd assume, for 2 dollars or so I had on there after I passed some funds through (as an offramp) a good while back.
Aah all clear now
https://twitter.com/sbf_ftx/status/1...qJEhZ3YUdFSHEw
somewhat related.. in response to Asiaexpat's questions...
https://www.temasek.com.sg/en/news-a.../statement-FTX
SBF back tweeting on his account after his absence / intermittent fake cryptic real delete masquarade.
Now trying to spin some bullshit that the whole thing wasn't fraud but getting the leverage wrong 😅
I’ll give them credit for revealing this info, although I’m very curious how they are calculating IRR without cash flows (already liquidated) given these are early stage.This is why we invest in early stage companies and accept the binary risks associated with such investments. Our early stage investments constitute ~6% of our portfolio, and as a group have generated good returns for us, with IRRs in the mid- teens.
Deduction for gobbledygook.take a very measured approach to such investments by applying an illiquidity risk premium on the cost of capital. In addition, we also add on a venture risk premium for the early stage they are in.
5 long paragraphs talking about process negated by revealing the end result of their process is garbage.It is apparent from this investment that perhaps our belief in the actions, judgment and leadership of Sam Bankman-Fried, formed from our interactions with him and views expressed in our discussions with others, would appear to have been misplaced.
More corporate jargon. The main learnings they are telling us right now is they did everything right.While this write down of our investment in FTX will not have significant impact on our overall performance, we treat any investment losses seriously and there will be learnings for us from this.
At any rate, personally I can accept there may always be mistakes made in any investment process, but I disagree it’s necessarily mandatory to make early stage investments, or that we shouldn’t criticise individual decisions, the process, or the framework. (If the loss was immaterial how material would the gain have been? Exactly what competitive advantage did they have besides asking other people what they thought of SBF?)