THE HASH: Bankrupt Crypto Exchange FTX Had Around $1.4B Cash at End of 2022; Will Bitcoin Hit $1M by 2030?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 1 February 2023
⏱️ 23 minutes
🧾️ Download transcript
Summary
The most valuable crypto stories for Wednesday, Feb. 1, 2023.
Bankrupt cryptocurrency exchange FTX had around $1.4 billion in cash as of the end of 2022, according to an interim financial update filed on Wednesday. This comes as a New York judge has prohibited former FTX CEO Sam Bankman-Fried from attempting to contact any former or current employees of Alameda Research or FTX. Plus, ARK Invest is out with its 2023 "Big Ideas" research report and predicts bitcoin (BTC) will still close the decade at $1 million because its fundamentals are sound, despite a turbulent 2022.
See also:
Why Venture Capitalists Won’t Be Held Accountable for Investing in FTX
Bankrupt Crypto Exchange FTX Had Around $1.4B Cash at End of 2022
Judge Bans Sam Bankman-Fried From Contacting FTX Employees and Using Signal
ARK Invest Maintains Prediction Bitcoin Price Will Hit $1M by 2030
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Transcript
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| 0:00.0 | This is the hash podcast. |
| 0:10.7 | Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more, |
| 0:15.5 | with stories that matter to the crypto world, all on the hash for your ears. |
| 0:24.2 | You're listening to the Coin Desk podcast network. |
| 0:32.5 | Hey there. Welcome to CoinDest TV. You're watching The Hash. Happy February, am I right? February 1st. |
| 0:40.0 | Wow. Calenders do be like that. My name is Zach. We got Will. We got Jen. we got Wendy. Our job here on the hash is to get you through the day's news in a fun, insightful, and engaging manner. |
| 0:45.4 | Let's do this thing. I'm starting off today. We have a bit of an FTX roundup. Let's do it. All right. |
| 0:51.8 | First little update we have, SBF. He's been talking to people. |
| 0:56.2 | There's been documents that have been revealed where he's emailing old friends and being like, |
| 1:00.4 | hey, let's be helpful to each other. Now, this is alleged witness tampering, according to the court. |
| 1:06.0 | And they're saying, dude, you really shouldn't be doing that. You can't be emailing these folks. |
| 1:10.7 | You can't even be using Signal and other disappearing chat functionality. But how would they know? Anyway, also revealed, FTX has $1.4 billion cash on hand as of the end of 2022, according to new filings. That's up about 19% from the $1.2 billion that was reported earlier. |
| 1:28.8 | So there's still a bunch of cash around and nowhere to spend it. Hopefully it will be diverted |
| 1:33.6 | toward making users whole. So yeah, lots of SBF stuff. We had another ruling from a judge |
| 1:39.6 | saying that the names of those people who signed his $250 million bond could be revealed. |
| 1:43.9 | So a lot of SB. It's a lot of |
| 1:44.3 | SBF stuff, a lot of FTX stuff, and we figured we just start the show with that. So I'm going to |
| 1:48.6 | toss it straight to Jen for her initial thought on the latest from FTX and its bankruptcy saga. |
| 1:54.7 | What do you got? So I think it's interesting that he's banned from Signal, but he's still allowed |
| 2:00.0 | to blog and be on Twitter. |
| 2:02.7 | He can still contact people. I don't know. I don't want to hear from him anymore. And so if the |
| 2:07.8 | courts are listening or the opposing lawyers are listening, please file something to make Sam stop |
... |
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