Crypto Biz: SBF’s newest Excel spreadsheet reveals all
Cointelegraph
Published Jan 20, 2023 03:00PM ET
Updated Jan 22, 2023 12:20AM ET
Large enterprise businesses spend tons of money keeping track of their financial dealings — think accountants, financial analysts, consultants and enterprise-grade accounting software. Sam Bankman-Fried, meanwhile, used Microsoft (NASDAQ:MSFT) Excel.
On Jan. 17, in another sloppy Excel spreadsheet, SBF revealed that FTX US was solvent. The Excel file purportedly showed customer balances, bank deposits and assets held in cold storage. “S&C forgot to include bank balances” of roughly $428 million, SBF said, referring to FTX’s former legal counsel Sullivan & Cromwell. “Once you add those back in, you get in the neighborhood of my prior balance sheet” of around $350 million, he said.
h3 FTX: It took ‘Herculean investigative effort’ to identify $5.5B in liquid assets/h3 h3 Silvergate reports $1B net loss in the fourth quarter of 2022/h3 h3 Digital Currency Group halts dividends in an effort to preserve liquidity/h3 h3 Hong Kong investment fund raises $500M to push mass adoption in Web3/h3 h3 Before you go: Is Bitcoin in a bull run or bull trap?/h3Continue Reading on Coin Telegraph
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