The Financial Times has obtained a copy of the FTX balance sheet and honestly guys it's a joke. The exchange had BTC as a liability with no holdings of BTC to back it up. Meanwhile, FTX listed a value of $2.2 billion worth of Serum tokens (SRM token) however the cryptocurrency has never had a market cap that high not to mention the fact that the ratio of liabilities to liquid assets is insane.
Full article - www.ft.com/con...
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