The last 48 hours of FTX/Alameda, told by an employee

This whole article is an excellent explanation of what happened to FTX/Alameda, but the best part is at the very end where a brand new employee recounts the firms last 2 days, a la the movie Margin Call.

https://milkyeggs.com/?p=175

 

jesus christ.

 

Brutal. Complete crypto capitulation is one-step closer.

 

It would make a good film.

Although it might be a bit premature. With crypto, there could be even more spectacular blow-ups still to come.

 

based on a true story?

 

Well the author Michael Lewis has been embedded with the FTX crowd for the past six months writing a book. Many of his books are made into films (Moneyball, etc.). Your wish for a film may get granted.

 

The Big Short and Flash Boys fame. He's a great author.

 

If this is true, it's a good sign for me (buying Robinhood). I am sure many people were (are) wondering what happened to that 7.6% share of Robinhood that was owned by FTX or Sam. Maybe it has already been sold..."Selling off liquid assets"!!

 

Though to be fair, many in the business have criticized Flash Boys for not being quite up to standards, with a few mistakes and mis-understandings. Perhaps Lewis should have spent more time polishing that one up and doing a little more cross-referencing.

 

It was an enlightening read for me. If not psyops, what are the valid criticisms from insiders?