Binance is buying FTX.com: How did it happen and what are the implications?

Bloomberg tracks SBF's wealth on a daily basis. Currently it's at $15.6 billion, on an increasing trend ~~despite/because of this news~~, though down from his March peak of $23 billion. Note that Bloomberg's graph makes the horrendous choice of putting the X axis at the historical minimum of his wealth rather than at zero.

EDIT: I am not sure if they've updated it to reflect this news, actually.

[This comment is no longer endorsed by its author]

[-]Neel Nanda4y32

I do not think that that link is a helpful resource for figuring out the implications of the news right now. I would be very surprised if Bloomberg were that on the ball!

Reply

1DirectedEvolution4y

I agree.

2 comments, sorted by

top scoring

Click to highlight new comments since: Today at 8:49 AM

[-]romeostevensit4y50

No idea on details but hedge funds aggressively attack each other over discovered vulnerabilities all the time and this sounds like such a hostile takeover what with Binance selling FTT in a (supposedly) maximally damaging way to FTX liquidity.

Reply

[-]Mitchell_Porter4y22

I don't follow crypto, and have not been anywhere near these large sums of money that are supposedly now available in the world of effective altruism and AI safety. But I keep hearing that SBF has become the biggest individual patron of EA, and now it sounds like his main business enterprise went broke and was sold to a rival. So my working hypothesis is that there won't be any more donations from him for a long time.

EA forum seems to think it's bad news.

Reply

Moderation Log

16

[ Question ]

Binance is buying FTX.com: How did it happen and what are the implications?

16

16

2 Answers sorted by top scoring

Nov 08, 2022

Nov 08, 2022

16

2 Answers sorted by
top scoring