I (like most of the financial and nonfinancial world!) have been obsessed with the FTX collapse. And for good reason: the story is wild (and I wonder if the new CEO is playing into the drama a bit)! I just cannot believe a company could be valued at tens of billions with basically no oversight / internal controls /
FTX is impacting Genesis which is threatening the parent company DCG (who has atleast $1B in notes to Genesis and has allegedly been unsuccessfully trying to raise $1B).
There is speculation they may need to sell off Grayscale investments.
This is one other real world impact as lots of money was in GBTC
Google Cloud and the other hyperscalers will take a hit
FTX is impacting Genesis which is threatening the parent company DCG (who has atleast $1B in notes to Genesis and has allegedly been unsuccessfully trying to raise $1B).
There is speculation they may need to sell off Grayscale investments.
This is one other real world impact as lots of money was in GBTC
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