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Articlagoon Profile picture
Articlagoon
@articlagoon
Tech VC moonlighting in crypto
Nov 9, 2022 • 4 tweets • 1 min read
I guess at this point its likely that FTX used customer funds to prop trade? Or used Alameda to do so?

1/4
Post-financial crisis, TradFi had the Volcker rule imposed on banks to prevent them from using customer funds to trade. Why? Because as Voyager, Celsius, FTX showed, a bank run or a drop in asset means insolvency

2/4 Image
Nov 9, 2022 • 5 tweets • 2 min read
I think I'm 3/3 so far with my FTX analysis starting 72h ago. I don't know if that's a good thing or bad...

Quick recap on the events:

1/5 I thought there was a good chance of FTX going bust, but wasn't 100% confident in my analysis hence the " I highly doubt that FTX/Alameda is insolvent"



2/5
Nov 9, 2022 • 20 tweets • 4 min read
At deal announcement, I outlined why I think the Binance acquisition of FTX doesn't go through. 24h later, I stand by my original thinking-- I think people on CT are also starting to also see that it won't happen. This covers my original thinking

1/20

Since I already touched on the language of the announcement above, I won't go into details again.

Now, ask yourself-- why would Binance want to buy FTX?

2/20
Nov 8, 2022 • 14 tweets • 4 min read
Looks like @FTX_Official is being acquired by Binance. Here’s what it means and why it’s important going forward

1/14 @SBF_FTX tweet from above implies that it’s being fully acquired. Notice the first and last investors wording

2/14
Nov 7, 2022 • 4 tweets • 1 min read
Does no one else find it incredibly problematic that we’re creating a shadow banking system in crypto with almost no regulation… that mirrors TradFi? That’s what CEXs, CeFis, lending platforms are… shadow banks/shadow financial institutions

1/4 If we’re going to do that, what’s the point? Super risky with little upside. Now, the story is different if we’re actually looking to build entirely different financial primitives via decentralized financial protocols.

2/4
Nov 7, 2022 • 12 tweets • 4 min read
I highly doubt that FTX/Alameda is insolvent. But in light of the info released about Alameda, does anyone else find the relationship between @FTX_Official and @AlamedaResearch really similar to the relationship between Luna/UST? Both printed fake money

Let me elaborate:

1/12 The details around UST/Luna is well documented so I'll keep this short and sweet. In short, as the price of Luna went up, more UST was minted since it was backed by Luna. $1 Luna = $1 UST.

2/12
Jun 16, 2022 • 11 tweets • 3 min read
1/x

Lots of confusion on a #VC vs HF, especially now with rumours of #3AC blowing up. Quick thread on key differences and why VCs shouldn’t be getting a bad name for this (albeit lots of garbage VCs in this space too) 2/x
Venture capital funds (VCs) make early stage investments in illiquid assets: historically equity, now tokens. The idea is that they back founders at the earliest stages, sometimes pre-product with just an idea. The expectation is that most of the projects they back fail…