OPINION: A balance sheet for Sam Bankman-Fried’s FTX exchange grossly overstated its assets.
reckoned he also owned an Audi A7, a BMW X7 and a Mercedes GLS.) The internet respected his bad hair.Now that Bankman-Fried is being held personally responsible for the implosion of a technology that Australian crypto investor Mark Carnegie, Marx-style, re-define the relationship between labour and capital, it would seem fair to add weak accounting skills to the debit side of his personality.
“We tend not to have things like stop losses,” she told the El Momento podcast last year. “I think those aren’t necessarily great risk management tools.” In theory, the price of Serum will go up and down based on the success of the underlying business. But only 3 per cent of the “coins” are available to trade.
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