Difference between revisions of "Timeline of FTX collapse"

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{{Future Fund COI}}
 
{{Future Fund COI}}
  
This is a '''timeline of FTX collapse'''. Considered one of the biggest collapses the crypto ecosystem, its bankruptcy left an estimated 1 million customers and other investors facing total losses in the billions of dollars.<ref>{{cite web |title=Collapsed FTX owes nearly $3.1 billion to top 50 creditors {{!}} CNN Business |url=https://edition.cnn.com/2022/11/20/tech/ftx-billions-owed-creditors/index.html |website=CNN |access-date=26 November 2022 |language=en |date=20 November 2022}}</ref>  
+
This is a '''timeline of FTX collapse''', considered one of the biggest collapses in the crypto ecosystem. The bankruptcy of FTX left an estimated 1 million customers and other investors facing total losses in the billions of dollars.<ref>{{cite web |title=Collapsed FTX owes nearly $3.1 billion to top 50 creditors {{!}} CNN Business |url=https://edition.cnn.com/2022/11/20/tech/ftx-billions-owed-creditors/index.html |website=CNN |access-date=26 November 2022 |language=en |date=20 November 2022}}</ref>  
  
 
== Sample questions ==
 
== Sample questions ==
  
 
The following are some interesting questions that can be answered by reading this timeline:  
 
The following are some interesting questions that can be answered by reading this timeline:  
 +
 +
* What are some notable details directly related to Sam Bankman-Fried?
 +
** For SBF apology statements, sort the full timeline by "Event type" and look for the group of rows with value "SBF apology".
 +
** For comments by SBF, sort the full timeline by "Event type" and look for the group of rows with value "SBF comment".
 +
** For SBF interviews, sort the full timeline by "Event type" and look for the group of rows with value "SBF interview".
 +
** See also "SBF net worth", "SBF reputation", "SBF arrest", and "SBF release".
 +
* What are some notable details on the financial status by FTX and Alameda Research?
 +
** Sort the full timeline by "Event type" and look for the group of rows with value "Financial".
 +
** You will see a number of events describing the financial situation of the companies and the mechanisms that led to their collapse.
 +
* What are some details related to the bankruptcy filing by FTX and its affiliates?
 +
** Sort the full timeline by "Event type" and look for the group of rows with value "Bankruptcy".
 +
* What are some reactions by notable peers in the cryptocurrency industry to the FTX collapse?
 +
** Sort the full timeline by "Event type" and look for the group of rows with value "Industry peer reaction".
 +
** You will see statements by important people in the crypto industry, such as {{w|Changpeng Zhao}} and {{w|Vitalik Buterin}}.
 +
* What are some comments by notable people in relation to the FTX crisis?
 +
** Sort the full timeline by "Event type" and look for the group of rows with value "Notable comment".
 +
** You will read statements by important people not in the crypto industry, such as {{w|Elon Musk}} and {{w|Edward Snowden}}.
 +
* What are some details describing financial rescue attempts by third parties to FTX?
 +
** Sort the full timeline by "Event type" and look for the group of rows with value "Rescue attempt".
 +
** You will see from early warnings prior to the collapse to rescue attempts in the midst of the debacle.
 +
* What are some details describing the impact on users?
 +
** Sort the full timeline by "Event type" and look for the group of rows with value "Impact on users".
 +
** You will read the names of important customers affected by the collapse of the exchange, as well as events related to stuck funds withdrawal attempts.
 +
* What are some events describing the impact of the FTX collapse on the effective altruist community?
 +
** Sort the full timeline by "Event type" and look for the group of rows with value "Impact on {{w|effective altruism}}".
 +
* What are events pointing to the overall collapse of FTX?
 +
** Sort the full timeline by "Event type" and look for the group of rows with value "FTX collapse".
 +
* Other events are described under the following types: "Background", "Contract termination", "Impact on the public", "Legal", "Official intervention", "Partnership proposal", "Partnership termination", "Prelude", "Psychopharmacology", "Security", "Unauthorized transaction", and "Tweet removal".
  
 
==Big picture==
 
==Big picture==
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| 2017 || {{w|Alameda Research}} is founded in November.
 
| 2017 || {{w|Alameda Research}} is founded in November.
 
|-
 
|-
| 2019 || [[w:FTX (company)|FTX]] is founded in May.
+
| 2019 || [[w:FTX (company)|FTX]] is founded in May. In December, Binance invests $100 million into FTX for 20% of the firm.<ref name="Phan">{{cite web |last1=Phan |first1=Trung |title=FTX: The $32B implosion |url=https://trungphan.substack.com/p/ftx-the-32b-implosion |website=trungphan.substack.com |access-date=30 November 2022 |language=en}}</ref>
 +
|-
 +
| 2020 || FTX explodes in popularity.<ref>{{cite web |title=FTX Collapse: Dark Days for the Crypto Industry |url=https://www.coinmama.com/blog/ftx-collapse-dark-days-for-the-crypto-industry/ |website=Coinmama Blog |access-date=1 December 2022 |language=en |date=14 November 2022}}</ref>
 +
|-
 +
| 2021 || FTX becomes a serious competitor to Binance, which sells its equity share (in FTX) in exchange for $2.1 billion of FTT and USD.
 
|-
 
|-
 
| 2022 || FTX Future Fund launches in February. In November, FTX plunges into crisis.
 
| 2022 || FTX Future Fund launches in February. In November, FTX plunges into crisis.
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| November 9 (Wednesday) || The SEC and CFTC begin investigating FTX. Binance walks back plans to acquire FTX. Instability spreads to the rest of the crypto industry.
 
| November 9 (Wednesday) || The SEC and CFTC begin investigating FTX. Binance walks back plans to acquire FTX. Instability spreads to the rest of the crypto industry.
 
|-
 
|-
| November 10 (Thursday) || FTX pauses trading on its platform. FTX assets are frozen by Bahamian regulator.
+
| November 10 (Thursday) || FTX pauses trading on its platform. The exchange seeks $9,4 billion in rescue funds from {{w|OKX}}, {{w|Sequoia Capital}}, etc.<ref>{{cite web |title=FTX looks for $9.4 billion in rescue funds, Bahamas freezes some assets |url=https://finance.yahoo.com/news/ftx-looks-9-4-billion-053233964.html |website=finance.yahoo.com |access-date=1 December 2022}}</ref> FTX assets are frozen by Bahamian regulator. Alameda stops trading.<ref>{{cite web |title=Alameda Research to wind down trading, founder Sam Bankman-Fried says |url=https://www.reuters.com/technology/alameda-research-wind-down-trading-founder-sam-bankman-fried-says-2022-11-10/ |website=Reuters |access-date=1 December 2022 |language=en |date=10 November 2022}}</ref>
 +
 
 
|-
 
|-
| November 11 (Friday) || SBF resigns. FTX files for bankruptcy.   
+
| November 11 (Friday) || SBF resigns. FTX files for bankruptcy. FTX US ceases processing crypto withdrawals.<ref>{{cite web |last1=De |first1=Danny Nelson and Nikhilesh |title=FTX US Temporarily Froze Crypto Withdrawals, Adding to Chaos of Bankruptcy Proceedings |url=https://www.coindesk.com/business/2022/11/11/ftx-us-freezes-crypto-withdrawals-sending-millions-in-assets-to-bankruptcy-limbo/ |website=www.coindesk.com |access-date=3 December 2022 |language=en |date=11 November 2022}}</ref>  
 
|-
 
|-
| November 12 (Saturday) || FTX is hacked for most of its remaining crypto.
+
| November 12 (Saturday) || FTX is hacked for most of its remaining crypto. Unauthorized transactions are reported. Blockchain analytics firms estimate outflows between $473 million and $659 million in "suspicious circumstances". Reuters reports at least $1 billion of customer funds having vanished from the exchange.
 
|-
 
|-
 
| November 13 (Sunday) || Bahamian police investigate FTX whether there was any criminal misconduct in the collapse of the crypto exchange.<ref>{{cite web |title=Bloomberg - Are you a robot? |url=https://www.bloomberg.com/news/articles/2022-11-13/ftx-faces-criminal-misconduct-probe-by-bahamas-authorities?leadSource=uverify%20wall |website=www.bloomberg.com |access-date=16 November 2022}}</ref>
 
| November 13 (Sunday) || Bahamian police investigate FTX whether there was any criminal misconduct in the collapse of the crypto exchange.<ref>{{cite web |title=Bloomberg - Are you a robot? |url=https://www.bloomberg.com/news/articles/2022-11-13/ftx-faces-criminal-misconduct-probe-by-bahamas-authorities?leadSource=uverify%20wall |website=www.bloomberg.com |access-date=16 November 2022}}</ref>
 
|-
 
|-
| November 14 (Monday) || {{w|Golden State Warriors}} terminates all FTX-related promotional deals. Digital asset lender {{w|BlockFi}} discloses "significant exposure" to FTX.<ref>{{cite web |last1=Datta |first1=Soumen |title=BlockFi has 'significant exposure' to FTX, denies talk of majority of assets being custodied at FTX |url=https://cryptoslate.com/blockfi-has-significant-exposure-to-ftx-denies-talk-of-majority-of-assets-being-custodied-at-ftx/ |website=CryptoSlate |access-date=26 November 2022 |date=14 November 2022}}</ref>
+
| November 14 (Monday) || {{w|Golden State Warriors}} terminates all FTX-related promotional deals. Digital asset lender {{w|BlockFi}} discloses "significant exposure" to FTX.<ref>{{cite web |last1=Datta |first1=Soumen |title=BlockFi has 'significant exposure' to FTX, denies talk of majority of assets being custodied at FTX |url=https://cryptoslate.com/blockfi-has-significant-exposure-to-ftx-denies-talk-of-majority-of-assets-being-custodied-at-ftx/ |website=CryptoSlate |access-date=26 November 2022 |date=14 November 2022}}</ref> 101 FTX affiliated debtors (collectively, the "Debtors") each file for bankruptcy.<ref name="restructuring.ra.kroll"/>
 
|-
 
|-
 
| November 15 (Tuesday) || BlockFi announces it is likely to file for bankruptcy.<ref>{{cite web |title=BlockFi Eyes Bankruptcy as FTX Fallout Continues: Report |url=https://blockworks.co/news/blockfi-eyes-bankruptcy-as-ftx-fallout-continues-report |website=Blockworks |access-date=26 November 2022 |language=en |date=15 November 2022}}</ref>
 
| November 15 (Tuesday) || BlockFi announces it is likely to file for bankruptcy.<ref>{{cite web |title=BlockFi Eyes Bankruptcy as FTX Fallout Continues: Report |url=https://blockworks.co/news/blockfi-eyes-bankruptcy-as-ftx-fallout-continues-report |website=Blockworks |access-date=26 November 2022 |language=en |date=15 November 2022}}</ref>
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| November 20 (Sunday) || FTX hacker moves 50,000 ETH to a unique address 0x866E.
 
| November 20 (Sunday) || FTX hacker moves 50,000 ETH to a unique address 0x866E.
 
|-
 
|-
| November 22 (Tuesday) || SBF apologizes again.
+
| November 22 (Tuesday) || FTX's bankruptcy hearing begins, before judge John T. Dorsey in court.
 +
|-
 +
| December 12 (Monday) || SBF is arrested in the Bahamas.
 +
|-
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| December 23 (Friday) || SBF is released on $250 million bail.
 
|-
 
|-
 
|}
 
|}
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|-
 
|-
 
| Nishad Singh || || FTX {{w|Director of Engineering}} || @Nishad__Singh || {{w|Bahamas}} (UTC-5) || According to Caroline Ellison, he was one of the four people who knew about the backdoor for sending funds from FTX to Alameda Research.
 
| Nishad Singh || || FTX {{w|Director of Engineering}} || @Nishad__Singh || {{w|Bahamas}} (UTC-5) || According to Caroline Ellison, he was one of the four people who knew about the backdoor for sending funds from FTX to Alameda Research.
 +
|-
 +
| {{w|John J. Ray III}} || || FTX post-bankruptcy CEO || ||
 
|-
 
|-
 
| {{w|Binance}} || || Large cryptocurrency exchange, FTX competitor, significant holder of FTT || @binance || || Binance's decision to sell its whole position of FTT played a big role in the collapse of the token. It attempted to rescue FTX from collapse and subsequently withdrew.
 
| {{w|Binance}} || || Large cryptocurrency exchange, FTX competitor, significant holder of FTT || @binance || || Binance's decision to sell its whole position of FTT played a big role in the collapse of the token. It attempted to rescue FTX from collapse and subsequently withdrew.
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| {{w|Elon Musk}} || || Twitter CEO || @elonmusk || {{w|San Francisco}} (UTC-8) ||  
 
| {{w|Elon Musk}} || || Twitter CEO || @elonmusk || {{w|San Francisco}} (UTC-8) ||  
 
|-
 
|-
| Sam Trabucco || || Former Alameda Research co-CEO || @AlamedaTrabucco ||
+
| {{w|Sam Trabucco}} || || Former Alameda Research co-CEO || @AlamedaTrabucco ||
 +
|-
 +
| [[w:Matt Levine (columnist)|Matt Levine]] || || [[W:Bloomberg News|Bloomberg]] columnist || @matt_levine || || He covered the FTX crisis.
 +
|-
 +
| Lucas Nuzzi || || Head of {{w|Research and development}} at CoinMetrics || @LucasNuzzi || {{w|New York metropolitan area}} || He analized FTX-Alameda transfers, providing early conclusions on his Twitter account.
 +
|-
 +
| Tiffany Fong || || || @TiffanyFong_ || || She's followed on Twitter by SBF with whom she had phone calls.
 +
|-
 +
| Autism Capital || || They present themselves as "The most based citizen journalism in Crypto." || @AutismCapital || || They follow the FTX saga on a daily basis.
 
|-
 
|-
 
|}
 
|}
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| May 4–11 || || || || Prelude || TerraUSD and Luna collapse, wiping out almost $45 billion market capitalization in one week and causing hundreds of billions in losses in the larger crypto market.<ref>{{cite web |title=What We Can Learn from Terra’s Fall, and What's Next for Crypto |url=https://time.com/6177567/terra-ust-crash-crypto/ |website=Time |access-date=24 November 2022 |language=en}}</ref><ref>{{cite web |title=Their cryptocurrencies crashed the market. Now they’re back at it. |url=https://www.washingtonpost.com/technology/2022/06/01/terraform-labs-crypto-luna/ |website=washingtonpost.com |access-date=24 November 2022}}</ref><ref>{{cite web |title=Terra’s $45 Billion Face Plant Creates a Crowd of Crypto Losers |url=https://www.bloomberg.com/news/articles/2022-05-14/terra-s-45-billion-face-plant-creates-a-crowd-of-crypto-losers |website=Bloomberg.com |access-date=24 November 2022 |language=en |date=14 May 2022}}</ref> Overall, the collapse of Terra Luna wipes $500 billion from the crypto market.<ref>{{cite web |title=SECOND CRYPTO CRASH IN 2022 – SHOULD YOU BUY THE DIP? |url=https://www.analyticsinsight.net/second-crypto-crash-in-2022-should-you-buy-the-dip/#:~:text=June%202022%20has%20seen%20a,first%20time%20since%20January%202021. |website=www.analyticsinsight.net |access-date=24 November 2022}}</ref> A precursor of the FTX collapse, the TerraUSD and Luna crash would influence and prove the severity of the FTX and Alameda Research situation as they would find themselves short after their loans start being recalled.<ref>{{cite web |title=What happened at Alameda Research |url=https://milkyeggs.com/?p=175 |website=Milky Eggs |access-date=24 November 2022 |language=en |date=15 November 2022}}</ref>  
 
| May 4–11 || || || || Prelude || TerraUSD and Luna collapse, wiping out almost $45 billion market capitalization in one week and causing hundreds of billions in losses in the larger crypto market.<ref>{{cite web |title=What We Can Learn from Terra’s Fall, and What's Next for Crypto |url=https://time.com/6177567/terra-ust-crash-crypto/ |website=Time |access-date=24 November 2022 |language=en}}</ref><ref>{{cite web |title=Their cryptocurrencies crashed the market. Now they’re back at it. |url=https://www.washingtonpost.com/technology/2022/06/01/terraform-labs-crypto-luna/ |website=washingtonpost.com |access-date=24 November 2022}}</ref><ref>{{cite web |title=Terra’s $45 Billion Face Plant Creates a Crowd of Crypto Losers |url=https://www.bloomberg.com/news/articles/2022-05-14/terra-s-45-billion-face-plant-creates-a-crowd-of-crypto-losers |website=Bloomberg.com |access-date=24 November 2022 |language=en |date=14 May 2022}}</ref> Overall, the collapse of Terra Luna wipes $500 billion from the crypto market.<ref>{{cite web |title=SECOND CRYPTO CRASH IN 2022 – SHOULD YOU BUY THE DIP? |url=https://www.analyticsinsight.net/second-crypto-crash-in-2022-should-you-buy-the-dip/#:~:text=June%202022%20has%20seen%20a,first%20time%20since%20January%202021. |website=www.analyticsinsight.net |access-date=24 November 2022}}</ref> A precursor of the FTX collapse, the TerraUSD and Luna crash would influence and prove the severity of the FTX and Alameda Research situation as they would find themselves short after their loans start being recalled.<ref>{{cite web |title=What happened at Alameda Research |url=https://milkyeggs.com/?p=175 |website=Milky Eggs |access-date=24 November 2022 |language=en |date=15 November 2022}}</ref>  
 
|-
 
|-
| August 24 || 9:16 p.m. || Sam Trabucco || Tweet || Resignation || Alameda Research co-CEO Sam Trabucco announces his resignation on Twitter, leaving co-CEO Caroline Ellison as the sole CEO, and announces he will remain in the capacity of adviser. Trabucco tweets: {{quote|I guess that's about it. My time at Alameda has been the most formative of my life. I've learned how to think, I've found out how far I can push myself, and I've been gifted the incredible experience of being in the trenches with lifelong friends -- and *winning*.<ref>{{cite web|author=Sam Trabucco|title=I guess that's about it|url=https://twitter.com/AlamedaTrabucco/status/1562519131236487168|website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116025352/https://twitter.com/AlamedaTrabucco/status/1562519131236487168|archive-date=November 16, 2022}}</ref>}}
+
| July 7 || || Rich Handler || email || Rescue attempt || Jefferies Financial Group CEO Rich Handler writes an email to an unidentified colleague, suggesting setting up a dinner date with SBF to provide business advice. Handler writes: {{quote|Do you know Sam Bankman-Fried? He seems in over his head and could quickly be in a precarious position (...) What he is going through is not going to pass as quickly as he might wish and you can quickly become the rescuee versus the rescuer if you are not careful.}}
 +
Handler would reckon he could have helped FTX.com avoid its collapse if only SBF had taken his meeting earlier in the year.<ref name="Rich Handler">{{cite web |title=Jefferies CEO Says He Offered FTX’s Bankman-Fried Rescue Advice in July |url=https://www.bloomberg.com/news/articles/2022-11-10/jefferies-ceo-says-he-offered-ftx-boss-rescue-advice-in-july?leadSource=uverify+wall |website=Bloomberg.com |access-date=29 November 2022 |language=en |date=10 November 2022}}</ref> He would post pictures of the email on his personal Twitter account on November 9, 2022.<ref name="Handler tweet">{{cite web|author=Rich Handler|title=My personal email trail on my non-meeting with #FTX! #lessons |url=https://twitter.com/HandlerRich/status/1590506973996326913 |website=Twitter |access-date=29 November 2022 |language=en|archive-url=https://web.archive.org/web/20221111214624/https://twitter.com/HandlerRich/status/1590506973996326913|archive-date=November 11, 2022}}</ref>
 +
|-
 +
| August 24 || 9:16 p.m. || Sam Trabucco || Tweet || Team (resignation) || Alameda Research co-CEO Sam Trabucco announces his resignation on Twitter, leaving co-CEO Caroline Ellison as the sole CEO, and announces he will remain in the capacity of adviser. Trabucco tweets: {{quote|I guess that's about it. My time at Alameda has been the most formative of my life. I've learned how to think, I've found out how far I can push myself, and I've been gifted the incredible experience of being in the trenches with lifelong friends -- and *winning*.<ref>{{cite web|author=Sam Trabucco|title=I guess that's about it|url=https://twitter.com/AlamedaTrabucco/status/1562519131236487168|website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116025352/https://twitter.com/AlamedaTrabucco/status/1562519131236487168|archive-date=November 16, 2022}}</ref>}}
 +
|-
 +
| September 16 || || Rich Handler || email || Rescue attempt || Rich Handler makes a second attempt to connect with SBF. He emails to a colleague: {{quote|I’m at the Rosewood Hotel in the Bahamas today. Do we have a smart way to see if the FTX guy wants to grab lunch? I believe he is here.<ref name="Rich Handler"/>}} Handler would be rebuffed once again. He would later tweet: “No response and no meeting/discussion.”<ref name="Handler tweet"/> In a November 8 email to his colleague, Handler writes: {{quote|Sure looks like Sam Bankman-Fried should have taken the meeting. :)<ref name="Handler tweet"/>}}
 
|-
 
|-
 
| September 27 || 3:27 p.m. || Brett Harrison || Tweet || Resignation || FTX.US President Brett Harrison announces his resignation, with his role be replaced by Zach Dexter, the CEO of FTX's U.S. derivatives unit.<ref>{{cite web |last1=Ligon |first1=Nelson Wang and Cheyenne |title=Crypto Exchange FTX.US President Brett Harrison Stepping Down |url=https://www.coindesk.com/business/2022/09/27/crypto-exchange-ftxs-president-brett-harrison-stepping-down/ |website=www.coindesk.com |access-date=15 November 2022 |language=en |date=27 September 2022}}</ref> Harrison tweets: {{quote|I’m stepping down as President of  
 
| September 27 || 3:27 p.m. || Brett Harrison || Tweet || Resignation || FTX.US President Brett Harrison announces his resignation, with his role be replaced by Zach Dexter, the CEO of FTX's U.S. derivatives unit.<ref>{{cite web |last1=Ligon |first1=Nelson Wang and Cheyenne |title=Crypto Exchange FTX.US President Brett Harrison Stepping Down |url=https://www.coindesk.com/business/2022/09/27/crypto-exchange-ftxs-president-brett-harrison-stepping-down/ |website=www.coindesk.com |access-date=15 November 2022 |language=en |date=27 September 2022}}</ref> Harrison tweets: {{quote|I’m stepping down as President of  
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. Over the next few months I’ll be transferring my responsibilities and moving into an advisory role at the company.<ref>{{cite web|author=Brett Harrison |title=I’m stepping down as President of  @FTX_Official |url=https://twitter.com/BrettHarrison88/status/1574782901748727809 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221005043316/https://twitter.com/BrettHarrison88/status/1574782901748727809|archive-date=October 5, 2022}}</ref>}} After the FTX collapse, it would be found that his resignation happened one day before a massive transfer of FTT tokens occured from FTX to Alameda Research.
 
. Over the next few months I’ll be transferring my responsibilities and moving into an advisory role at the company.<ref>{{cite web|author=Brett Harrison |title=I’m stepping down as President of  @FTX_Official |url=https://twitter.com/BrettHarrison88/status/1574782901748727809 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221005043316/https://twitter.com/BrettHarrison88/status/1574782901748727809|archive-date=October 5, 2022}}</ref>}} After the FTX collapse, it would be found that his resignation happened one day before a massive transfer of FTT tokens occured from FTX to Alameda Research.
 
|-
 
|-
| September 28 || || || || Notable transaction || A massive transfer of 173 million FTT tokens worth over 4 billion USD occurs on this day. After the collapse of FTX in November, researcher Lucas Nuzzi would identify this transfer as a massive bailout from FTX for Alameda Research.<ref name=LucasNuzzi/>
+
| September 28 || || || || Financial (notable transaction) || A massive transfer of 173 million FTT tokens worth over 4 billion USD occurs on this day. After the collapse of FTX in November, researcher Lucas Nuzzi would identify this transfer as a massive bailout from FTX for Alameda Research.<ref name=LucasNuzzi/>
 
|-
 
|-
| September 30 || 13:44 || Adam Cochran || Tweet || Suspicious transaction || Adam Cochran publishes a 22-tweet thread starting with the following tweet: {{quote|So ETH OI has been overall down recently, but on FTX it's at all time highs (1.2M ETH) and in this low liquidity environment ETH has seemingly split with the macros and tried to defend aggressively around that 1200-1300 range.
+
| September 30 || 1:44 p.m. || Adam Cochran || Tweet || Notable transaction || Adam Cochran publishes a 22-tweet thread starting with the following tweet: {{quote|So ETH OI has been overall down recently, but on FTX it's at all time highs (1.2M ETH) and in this low liquidity environment ETH has seemingly split with the macros and tried to defend aggressively around that 1200-1300 range.
  
 
That bid is often led on FTX.}} Cochran concludes that someone institutional is very leveraged in a large position on FTX, likely some sort of staked ETH hedge.<ref>{{cite web|author=Adam Cochran |title=So ETH OI has been overall down recently, but on FTX it's at all time highs |url=https://twitter.com/adamscochran/status/1575844056806350849 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20220930151106/https://twitter.com/adamscochran/status/1575844056806350849|archive-date=September 30, 2022}}</ref>
 
That bid is often led on FTX.}} Cochran concludes that someone institutional is very leveraged in a large position on FTX, likely some sort of staked ETH hedge.<ref>{{cite web|author=Adam Cochran |title=So ETH OI has been overall down recently, but on FTX it's at all time highs |url=https://twitter.com/adamscochran/status/1575844056806350849 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20220930151106/https://twitter.com/adamscochran/status/1575844056806350849|archive-date=September 30, 2022}}</ref>
 
|-
 
|-
| October 5 || 12:06 p.m. || || || || A Manifold Markets prediction is published, asking users to bet whether SBF would be convicted of a felony before 2026. Affirmative bets would skyrocket on November 8.<ref name="manifold.markets">{{cite web |title=SBF convicted of a felony before 2026 {{!}} Manifold Markets |url=https://manifold.markets/mr22222222/sbf-convicted-of-a-felony-before-20 |website=manifold.markets |access-date=24 November 2022 |language=en}}</ref>
+
| October 5 || 12:06 p.m. || || || SBF reputation || A Manifold Markets prediction is published, asking users to bet whether SBF would be convicted of a felony before 2026. Affirmative bets would skyrocket on November 8.<ref name="manifold.markets">{{cite web |title=SBF convicted of a felony before 2026 {{!}} Manifold Markets |url=https://manifold.markets/mr22222222/sbf-convicted-of-a-felony-before-20 |website=manifold.markets |access-date=24 November 2022 |language=en}}</ref>
 
|-
 
|-
| November 2 || 2:44 p.m. || Ian Allison, <code>coindesk.com</code> || Article || FTX financial || An article at <code>coindesk.com</code> by Ian Allison shares some critical financial details from Alameda Research, revealing that its balance sheet is full of the FTT token, which is issued by the exchange that grants holders a discount on trading fees on its marketplace. It is revealed that Alameda rests on a foundation largely made up of a coin that sister company FTX invented, instead of an independent asset like a fiat currency or another crypto. Total assets totalling $14.6 billion are reported to be comprised of $5.8 billion FTT token, $1.2 billion Solana token (SOL), $3.37 billion in unidentified “crypto held,” $2 billion in “investments in equity securities”, leaving roughly $2.2 billion in assets. According to this balance sheet, Alameda only had $134 million in cash on hand in June 2022.<ref name=sdf/><ref>{{cite web |last1=Allison |first1=Ian |title=Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet |url=https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/ |website=www.coindesk.com |access-date=12 November 2022 |language=en |date=2 November 2022}}</ref> Regarding FTT, Alameda is found to hold far more of the tokens than traded on the market, suggesting its stake would be hard to liquidate at current prices.<ref name="team"/> In a post-FTX-collapse interview, {{w|Binance}} CEO {{w|Changpeng Zhao}} would recall this as the cause of Binance's decision to liquidate its stake of 23 million FTX Token (FTT) for risk management reasons, with their subsequent announcement causing a sell-off in FTT in the market.<ref name="CZ First Interview After the Collapse of FTX"/><ref>{{cite web |last1=Gift |first1=Arianne |title=Alameda website goes private amid FTX liquidity crunch |url=https://micky.com.au/alameda-website-goes-private-amid-ftx-liquidity-crunch/ |website=Micky |access-date=26 November 2022 |date=10 November 2022}}</ref>
+
| November 2 || 2:44 p.m. || Ian Allison, <code>coindesk.com</code> || Article || Financial || An article at <code>coindesk.com</code> by Ian Allison shares some critical financial details from Alameda Research, revealing that its balance sheet is full of the FTT token, which is issued by the exchange that grants holders a discount on trading fees on its marketplace. It is revealed that Alameda rests on a foundation largely made up of a coin that sister company FTX invented, instead of an independent asset like a fiat currency or another crypto. Total assets totalling $14.6 billion are reported to be comprised of $5.8 billion FTT token, $1.2 billion Solana token (SOL), $3.37 billion in unidentified “crypto held,” $2 billion in “investments in equity securities”, leaving roughly $2.2 billion in assets. According to this balance sheet, Alameda only had $134 million in cash on hand in June 2022.<ref name=sdf/><ref>{{cite web |last1=Allison |first1=Ian |title=Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet |url=https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/ |website=www.coindesk.com |access-date=12 November 2022 |language=en |date=2 November 2022}}</ref> Regarding FTT, Alameda is found to hold far more of the tokens than traded on the market, suggesting its stake would be hard to liquidate at current prices.<ref name="team"/> In a post-FTX-collapse interview, {{w|Binance}} CEO {{w|Changpeng Zhao}} would recall this as the cause of Binance's decision to liquidate its stake of 23 million FTX Token (FTT) for risk management reasons, with their subsequent announcement causing a sell-off in FTT in the market.<ref name="CZ First Interview After the Collapse of FTX"/><ref>{{cite web |last1=Gift |first1=Arianne |title=Alameda website goes private amid FTX liquidity crunch |url=https://micky.com.au/alameda-website-goes-private-amid-ftx-liquidity-crunch/ |website=Micky |access-date=26 November 2022 |date=10 November 2022}}</ref>
 
|-
 
|-
| November 4 || || Dirty Bubble Media || Article || FTX financial || Following the CoinDesk report, a pseudonymous crypto researcher post on the Dirty Bubble Media Substack asking if the company is insolvent. Referring to the holding of a chunk of assets in FTT, it adds: “It’s almost as if SBF found a way to hack the financial system, printing billions of dollars out of thin air against which he was able to borrow massive sums from unknown counterparties.” This post would lead to rumors spreading over the weekend<ref name=sdf>{{cite web |last1=Media |first1=Dirty Bubble |title=Is Alameda Research Insolvent? |url=https://dirtybubblemedia.substack.com/p/is-alameda-research-insolvent |website=dirtybubblemedia.substack.com |access-date=12 November 2022 |language=en}}</ref><ref name="the Guardian">{{cite web |title=How Binance played a key role as FTX collapse unfolded |url=https://www.theguardian.com/technology/2022/nov/11/binance-ftx-collapse-cryptocurrency-exchange-changpeng-zhao |website=the Guardian |access-date=12 November 2022 |language=en |date=11 November 2022}}</ref><ref name="FTX, RIP">{{cite web |last1=Hobart |first1=Byrne |title=FTX, RIP |url=https://www.thediff.co/p/ftx-rip |website=www.thediff.co |access-date=13 November 2022 |language=en}}</ref>
+
| November 4 || || Dirty Bubble Media || Article || Financial || Following the CoinDesk report, a pseudonymous crypto researcher post on the Dirty Bubble Media Substack asking if the company is insolvent. Referring to the holding of a chunk of assets in FTT, it adds: “It’s almost as if SBF found a way to hack the financial system, printing billions of dollars out of thin air against which he was able to borrow massive sums from unknown counterparties.” This post would lead to rumors spreading over the weekend<ref name=sdf>{{cite web |last1=Media |first1=Dirty Bubble |title=Is Alameda Research Insolvent? |url=https://dirtybubblemedia.substack.com/p/is-alameda-research-insolvent |website=dirtybubblemedia.substack.com |access-date=12 November 2022 |language=en}}</ref><ref name="the Guardian">{{cite web |title=How Binance played a key role as FTX collapse unfolded |url=https://www.theguardian.com/technology/2022/nov/11/binance-ftx-collapse-cryptocurrency-exchange-changpeng-zhao |website=the Guardian |access-date=12 November 2022 |language=en |date=11 November 2022}}</ref><ref name="FTX, RIP">{{cite web |last1=Hobart |first1=Byrne |title=FTX, RIP |url=https://www.thediff.co/p/ftx-rip |website=www.thediff.co |access-date=13 November 2022 |language=en}}</ref>
 
|-
 
|-
| November 5 || 2:09 p.m. || Whale Alert || Tweet || Notable transfer || Whale Alert Twitter user posts: {{quote|22,999,999 #FTT (584,818,174 USD) transferred from unknown wallet to #Binance.<ref>{{cite web|author=Whale Alert |title=22,999,999 #FTT (584,818,174 USD) transferred from unknown wallet to #Binance |url=https://twitter.com/whale_alert/status/1588896207795011585 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221108130101/https://twitter.com/whale_alert/status/1588896207795011585|archive-date=November 8, 2022}}</ref>}}
+
| November 5 || 2:09 p.m. || Whale Alert || Tweet || Notable transaction || Whale Alert Twitter user posts: {{quote|22,999,999 #FTT (584,818,174 USD) transferred from unknown wallet to #Binance.<ref>{{cite web|author=Whale Alert |title=22,999,999 #FTT (584,818,174 USD) transferred from unknown wallet to #Binance |url=https://twitter.com/whale_alert/status/1588896207795011585 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221108130101/https://twitter.com/whale_alert/status/1588896207795011585|archive-date=November 8, 2022}}</ref>}}
 
|-
 
|-
| November 6 || 2:32 p.m. || {{w|Caroline Ellison}} || Tweet || FTX financial || In response to the ''{{w|CoinDesk}}'' article, Caroline Ellison tweets: {{quote|A few notes on the balance sheet info that has been circulating recently:
+
| November 6 || 2:32 p.m. || {{w|Caroline Ellison}} || Tweet || Financial || In response to the ''{{w|CoinDesk}}'' article, Caroline Ellison tweets: {{quote|A few notes on the balance sheet info that has been circulating recently:
 
- that specific balance sheet is for a subset of our corporate entities, we have > $10b of assets that aren’t reflected there.<ref>{{cite web |author=Caroline Ellison|title=We have > $10b of assets that aren’t reflected there |url=https://twitter.com/carolinecapital/status/1589264375042707458 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115185957/https://twitter.com/carolinecapital/status/1589264375042707458|archive-date=November 15, 2022}}</ref>}}
 
- that specific balance sheet is for a subset of our corporate entities, we have > $10b of assets that aren’t reflected there.<ref>{{cite web |author=Caroline Ellison|title=We have > $10b of assets that aren’t reflected there |url=https://twitter.com/carolinecapital/status/1589264375042707458 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115185957/https://twitter.com/carolinecapital/status/1589264375042707458|archive-date=November 15, 2022}}</ref>}}
 
|-
 
|-
 
| November 6 || 3:47 p.m. || {{w|Changpeng Zhao}} || Tweet || Industry peer reaction || {{w|Changpeng Zhao}} tweets: {{quote|As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books.<ref name=dtrr/>}} CZ compares FTT to the imploded luna token, which Binance also previously backed.<ref name="team"/> In the tweet thread, he says they will try to liquidate in a way that minimizes market impact, expecting a complete liquidation in a few months.<ref name=dtrr>{{cite web |author={{w|Changpeng Zhao}}|title=Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books |url=https://twitter.com/cz_binance/status/1589283421704290306|website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115194304/https://twitter.com/cz_binance/status/1589283421704290306|archive-date=November 15, 2022}}</ref> However, FTT’s price would start to wobble after this announcement.<ref name="team"/>  
 
| November 6 || 3:47 p.m. || {{w|Changpeng Zhao}} || Tweet || Industry peer reaction || {{w|Changpeng Zhao}} tweets: {{quote|As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books.<ref name=dtrr/>}} CZ compares FTT to the imploded luna token, which Binance also previously backed.<ref name="team"/> In the tweet thread, he says they will try to liquidate in a way that minimizes market impact, expecting a complete liquidation in a few months.<ref name=dtrr>{{cite web |author={{w|Changpeng Zhao}}|title=Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books |url=https://twitter.com/cz_binance/status/1589283421704290306|website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115194304/https://twitter.com/cz_binance/status/1589283421704290306|archive-date=November 15, 2022}}</ref> However, FTT’s price would start to wobble after this announcement.<ref name="team"/>  
 
|-
 
|-
| November 6 || 4:03 p.m. || Caroline Ellison || Tweet || FTX financial || Caroline Ellison tweets {{quote|@cz_binance if you're looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22!<ref>{{cite web |author=Caroline Ellison|title=@cz_binance  if you're looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22! |url=https://twitter.com/carolinecapital/status/1589287457975304193|website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116024300/https://twitter.com/carolinecapital/status/1589287457975304193|archive-date=November 16, 2022}}</ref>}} According to a ''{{w|Wall Street Journal}}'' article published later, "Binance contacted her about the offer but never heard back, a person familiar with the matter said."<ref name="Wall Street Article"/>
+
| November 6 || 4:03 p.m. || Caroline Ellison || Tweet || Financial || Caroline Ellison tweets {{quote|@cz_binance if you're looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22!<ref>{{cite web |author=Caroline Ellison|title=@cz_binance  if you're looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22! |url=https://twitter.com/carolinecapital/status/1589287457975304193|website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116024300/https://twitter.com/carolinecapital/status/1589287457975304193|archive-date=November 16, 2022}}</ref>}} According to a ''{{w|Wall Street Journal}}'' article published later, "Binance contacted her about the offer but never heard back, a person familiar with the matter said."<ref name="Wall Street Article"/>
 
|-
 
|-
| November 6 || 9:49 p.m. || {{w|Changpeng Zhao}} || Tweet || Industry peer reaction || {{w|Changpeng Zhao}} tweets: {{quote|Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won't pretend to make love after divorce. We are not against anyone. But we won't support people who lobby against other industry players behind their backs. Onwards.<ref>{{cite web |title=Liquidating our FTT is just post-exit risk management, learning from LUNA |url=https://twitter.com/cz_binance/status/1589374530413215744 |website=Twitter |access-date=22 November 2022 |language=en|archive-url=https://web.archive.org/web/20221121121432/https://twitter.com/cz_binance/status/1589374530413215744|archive-date=November 21, 2022}}</ref>}}
+
| November 6 || 9:49 p.m. || {{w|Changpeng Zhao}} || Tweet || Industry peer reaction || {{w|Changpeng Zhao}} tweets: {{quote|Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won't pretend to make love after divorce. We are not against anyone. But we won't support people who lobby against other industry players behind their backs. Onwards.<ref>{{cite web|author={{w|Changpeng Zhao}}|title=Liquidating our FTT is just post-exit risk management, learning from LUNA |url=https://twitter.com/cz_binance/status/1589374530413215744 |website=Twitter |access-date=22 November 2022 |language=en|archive-url=https://web.archive.org/web/20221121121432/https://twitter.com/cz_binance/status/1589374530413215744|archive-date=November 21, 2022}}</ref>}}
 
|-
 
|-
| November 6 || 11:28 p.m. || {{w|Sam Bankman-Fried}} || Tweet || FTX solvency || SBF tweets declaring that FTX is solvent. Among other comments in the thread, he declares: {{quote|FTX keeps audited financials etc.  And, though it slows us down sometimes on product, we're highly regulated.<ref>{{cite web |author={{w|Sam Bankman-Fried}}|title=FTX keeps audited financials |url=https://twitter.com/SBF_FTX/status/1589399422555033600|website=Twitter |access-date=13 November 2022 |language=en|archive-url=https://web.archive.org/web/20221112202232/https://twitter.com/SBF_FTX/status/1589399422555033600|archive-date=November 12, 2022}}</ref>}}
+
| November 6 || 11:28 p.m. || {{w|Sam Bankman-Fried}} || Tweet || Financial || SBF tweets declaring that FTX is solvent. Among other comments in the thread, he declares: {{quote|FTX keeps audited financials etc.  And, though it slows us down sometimes on product, we're highly regulated.<ref>{{cite web |author={{w|Sam Bankman-Fried}}|title=FTX keeps audited financials |url=https://twitter.com/SBF_FTX/status/1589399422555033600|website=Twitter |access-date=13 November 2022 |language=en|archive-url=https://web.archive.org/web/20221112202232/https://twitter.com/SBF_FTX/status/1589399422555033600|archive-date=November 12, 2022}}</ref>}}
 
|-
 
|-
| November 7 || 12:38 p.m. || {{w|Sam Bankman-Fried}} || Tweet || FTX solvency || SBF posts a thread of four different tweets claiming that FTX has “enough to cover all client holdings.” He also states that the firm didn’t invest client assets and has been processing all withdrawals and “will continue to be.” Another tweet reads: {{quote|We have a long history of safeguarding client assets, and that remains true today.<ref>{{cite web|author={{w|Sam Bankman-Fried}} |title=FTX is fine.  Assets are fine |archive-url=https://web.archive.org/web/20221108052941/https://twitter.com/SBF_FTX/status/1589598284322328579|url=https://twitter.com/SBF_FTX/status/1589598284322328579 |website=Twitter |access-date=16 November 2022 |date=8 November 2022|archive-date=November 8, 2022}}</ref>}}
+
| November 7 || 12:38 p.m. || {{w|Sam Bankman-Fried}} || Tweet || Financial || SBF posts a thread of four different tweets claiming that FTX has “enough to cover all client holdings.” He also states that the firm didn’t invest client assets and has been processing all withdrawals and “will continue to be.” Another tweet reads: {{quote|We have a long history of safeguarding client assets, and that remains true today.<ref>{{cite web|author={{w|Sam Bankman-Fried}} |title=FTX is fine.  Assets are fine |archive-url=https://web.archive.org/web/20221108052941/https://twitter.com/SBF_FTX/status/1589598284322328579|url=https://twitter.com/SBF_FTX/status/1589598284322328579 |website=Twitter |access-date=16 November 2022 |date=8 November 2022|archive-date=November 8, 2022}}</ref>}}
 
This thread would be removed the following day.<ref name="FTX foun"/>
 
This thread would be removed the following day.<ref name="FTX foun"/>
 
|-
 
|-
| November 7 || circa 4 p.m. || {{w|Sam Bankman-Fried}}, {{w|Changpeng Zhao}} || Call || Binance rescue || About 24 hours after {{w|Changpeng Zhao}} communicated {{w|Binance}}'s liquidation of its remaining FTT, he receives a call from SBF confessing FTX has much bigger troubles, wants to protect them, and proposes a rescue deal. CZ would later confess that a deal would not make sense from a number of fronts, including financial, technology and product perspectives, leaving the sole intention of protecting the users. The latter would prove unfeasible after news of FTX misappropriating user funds are revealed, according to CZ.<ref name="CZ First Interview After the Collapse of FTX"/>
+
| November 7 || Evening/circa 4 p.m. || {{w|Sam Bankman-Fried}}, {{w|Changpeng Zhao}} || {{w|Instant messaging}}, call || Rescue attempt || CZ is approached by SBF, who seeks to have Binance rescue FTX through acquisition. Sources would give divergent versions. In an interview, CZ would reveal having received a call from SBF about 24 hours after CZ communicated {{w|Binance}}'s liquidation of its remaining FTT, with SBF confessing FTX is in big trouble, wants to protect its users, and proposes a rescue deal.<ref name="CZ First Interview After the Collapse of FTX"/> According to a [[w:The Wall Street Journal|Wall Street Journal]] report, CZ received a message over [[w:Signal (software)|Signal]], an encrypted messaging app, from SBF, who congratulates his rival and describes Binance as the perfect buyer for FTX.<ref name="Wall Street Article"/>
 
|-
 
|-
 
| November 8 || circa 2:00 a.m. || || || FTT valuation || Still affected after Binance said it would liquidate its holding in the token, FTT price falls sharply 19%, from roughly $22 to below $18 in a short time.<ref>{{cite web |title=FTX’s token falls sharply amid Binance controversy |url=https://www.theblock.co/post/184023/ftxs-token-falls-sharply-amid-binance-controversy |website=The Block |access-date=15 November 2022 |language=en}}</ref> The prices of Solana and Serum, both cryptocurrencies associated with SBF, also plummet, dropping far more than the rest of the market.<ref>{{cite web |title=Solana, FTT and Serum prices plummet on back of FTX collapse |url=https://www.theblock.co/post/184619/solana-ftt-and-serum-prices-plummet-on-back-of-ftx-collapse |website=The Block |access-date=24 November 2022 |language=en}}</ref>
 
| November 8 || circa 2:00 a.m. || || || FTT valuation || Still affected after Binance said it would liquidate its holding in the token, FTT price falls sharply 19%, from roughly $22 to below $18 in a short time.<ref>{{cite web |title=FTX’s token falls sharply amid Binance controversy |url=https://www.theblock.co/post/184023/ftxs-token-falls-sharply-amid-binance-controversy |website=The Block |access-date=15 November 2022 |language=en}}</ref> The prices of Solana and Serum, both cryptocurrencies associated with SBF, also plummet, dropping far more than the rest of the market.<ref>{{cite web |title=Solana, FTT and Serum prices plummet on back of FTX collapse |url=https://www.theblock.co/post/184619/solana-ftt-and-serum-prices-plummet-on-back-of-ftx-collapse |website=The Block |access-date=24 November 2022 |language=en}}</ref>
 
|-
 
|-
| November 8 || 11:37 a.m. || || || Customer withdrawal || According to on-chain data, FTX appears to have stopped processing withdrawal requests, with last transaction from the exchange taking place on the Ethereum blockchain.<ref>{{cite web |title=FTX appears to have stopped processing withdrawals, on-chain data show |url=https://www.theblock.co/post/184176/ftx-appears-to-have-stopped-processing-withdrawals-on-chain-data-show |website=The Block |access-date=15 November 2022 |language=en}}</ref><ref name=vfff>{{cite web |last1=Melinek |first1=Jacquelyn |title=FTX's seemingly sluggish withdrawals raise eyebrows |url=https://techcrunch.com/2022/11/08/ftxs-seemingly-sluggish-withdrawals-raise-eyebrows/ |website=TechCrunch |access-date=13 November 2022 |date=8 November 2022}}</ref>  
+
| November 8 || 11:37 a.m. || || || Impact on customers || According to on-chain data, FTX appears to have stopped processing withdrawal requests, with last transaction from the exchange taking place on the Ethereum blockchain.<ref>{{cite web |title=FTX appears to have stopped processing withdrawals, on-chain data show |url=https://www.theblock.co/post/184176/ftx-appears-to-have-stopped-processing-withdrawals-on-chain-data-show |website=The Block |access-date=15 November 2022 |language=en}}</ref><ref name=vfff>{{cite web |last1=Melinek |first1=Jacquelyn |title=FTX's seemingly sluggish withdrawals raise eyebrows |url=https://techcrunch.com/2022/11/08/ftxs-seemingly-sluggish-withdrawals-raise-eyebrows/ |website=TechCrunch |access-date=13 November 2022 |date=8 November 2022}}</ref>  
 
|-
 
|-
| November 8 || Morning in {{w|Bahamas}} || {{w|Sam Bankman-Fried}} || || || SBF sends a message to his team, apologizing for the chaos and thanking them for their efforts. Days later, according to FTX senior marketing specialist, "it was clear the game was over”.<ref name="Wall Street Article"/>
+
| November 8 || Morning in {{w|Bahamas}} || {{w|Sam Bankman-Fried}} || || SBF apology || SBF sends a message to his team, apologizing for the chaos and thanking them for their efforts. Days later, according to FTX senior marketing specialist, "it was clear the game was over”.<ref name="Wall Street Article"/>
 
|-  
 
|-  
| November 8 || 4:03 p.m. || {{w|Sam Bankman-Fried}} || Tweet || Binance rescue || SBF tweets a thread announcing plan to sell FTX.com (its non-U.S. business) to Binance. He writes: {{quote|Things have come full circle, and <code>FTX.com</code>’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for <code>FTX.com</code> (pending DD etc.)}} Along the tweet thread, he announces that FTX customers are protected and that the teams are working to clear out liquidity crunches.<ref>{{cite web|author={{w|Sam Bankman-Fried}} |title=we have come to an agreement on a strategic transaction with Binance for FTX.com |url=https://twitter.com/SBF_FTX/status/1590012124864348160 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115194346/https://twitter.com/SBF_FTX/status/1590012124864348160|archive-date=November 15, 2022}}</ref>   
+
| November 8 || 4:03 p.m. || {{w|Sam Bankman-Fried}} || Tweet || Rescue attempt || SBF tweets a thread announcing plan to sell FTX.com (its non-U.S. business) to Binance. He writes: {{quote|Things have come full circle, and <code>FTX.com</code>’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for <code>FTX.com</code> (pending DD etc.)}} Along the tweet thread, he announces that FTX customers are protected and that the teams are working to clear out liquidity crunches.<ref>{{cite web|author={{w|Sam Bankman-Fried}} |title=we have come to an agreement on a strategic transaction with Binance for FTX.com |url=https://twitter.com/SBF_FTX/status/1590012124864348160 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115194346/https://twitter.com/SBF_FTX/status/1590012124864348160|archive-date=November 15, 2022}}</ref>   
 
|-
 
|-
| November 8 || 4:05 p.m. || || || Customer withdrawal || Tech news sites cover slow withdrawals at FTX.<ref name=vfff/>
+
| November 8 || 4:05 p.m. || || || Impact on customers || Tech news sites cover slow withdrawals at FTX.<ref name=vfff/>
 
|-
 
|-
| November 8 || 4:09 p.m. || {{w|Changpeng Zhao}} || Tweet || Binance rescue || {{w|Binance}} CEO {{w|Changpeng Zhao}} announces that Binance has signed a non-binding agreement to buy FTX's non-US assets in order to save the competitor from a liquidity crisis that FTX actually found itself in partly through Binance's own actions, as the latter accused FTX of committing fraud with FTT tokens.<ref>{{cite web|author={{w|Changpeng Zhao}} |title=This afternoon, FTX asked for our help |url=https://twitter.com/cz_binance/status/1590013613586411520 |archiveurl=https://web.archive.org/web/20221115153440/https://twitter.com/cz_binance/status/1590013613586411520|website=Twitter |access-date=16 November 2022|archivedate=November 15, 2022 |language=en}}</ref><ref>{{cite web |title=Binance pulls out of FTX deal, Bitcoin value hits 2-year low |url=https://tech.news.am/eng/news/284/binance-pulls-out-of-ftx-deal-bitcoin-value-hits-2-year-low.html |website=NEWS.am TECH - Innovations and science |access-date=12 November 2022}}</ref> CZ tweets: {{quote|This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days.}} The terms of the deal are not set in stone.<ref>{{cite web |title=Binance steps in to buy FTX.com after token collapse |url=https://www.theblock.co/post/184251/ftx-agrees-to-strategic-transaction-with-binance |website=The Block |access-date=15 November 2022 |language=en}}</ref> However, FTT token subsequently jumps 38% to almost $20 at 4:12 p.m.<ref>{{cite web |title=Crypto markets initially buoyed by Binance's deal to buy FTX |url=https://www.theblock.co/post/184293/crypto-markets-initially-buoyed-by-binances-deal-to-buy-ftx |website=The Block |access-date=15 November 2022 |language=en}}</ref>  
+
| November 8 || 4:09 p.m. || {{w|Changpeng Zhao}} || Tweet || Rescue attempt || {{w|Binance}} CEO {{w|Changpeng Zhao}} announces that Binance has signed a non-binding agreement to buy FTX's non-US assets in order to save the competitor from a liquidity crisis that FTX actually found itself in partly through Binance's own actions, as the latter accused FTX of committing fraud with FTT tokens.<ref>{{cite web|author={{w|Changpeng Zhao}} |title=This afternoon, FTX asked for our help |url=https://twitter.com/cz_binance/status/1590013613586411520 |archiveurl=https://web.archive.org/web/20221115153440/https://twitter.com/cz_binance/status/1590013613586411520|website=Twitter |access-date=16 November 2022|archivedate=November 15, 2022 |language=en}}</ref><ref>{{cite web |title=Binance pulls out of FTX deal, Bitcoin value hits 2-year low |url=https://tech.news.am/eng/news/284/binance-pulls-out-of-ftx-deal-bitcoin-value-hits-2-year-low.html |website=NEWS.am TECH - Innovations and science |access-date=12 November 2022}}</ref> CZ tweets: {{quote|This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days.}} The terms of the deal are not set in stone.<ref>{{cite web |title=Binance steps in to buy FTX.com after token collapse |url=https://www.theblock.co/post/184251/ftx-agrees-to-strategic-transaction-with-binance |website=The Block |access-date=15 November 2022 |language=en}}</ref> However, FTT token subsequently jumps 38% to almost $20 at 4:12 p.m.<ref>{{cite web |title=Crypto markets initially buoyed by Binance's deal to buy FTX |url=https://www.theblock.co/post/184293/crypto-markets-initially-buoyed-by-binances-deal-to-buy-ftx |website=The Block |access-date=15 November 2022 |language=en}}</ref>  
 
|-
 
|-
 
| November 8 || circa 5 p.m. – 8 p.m. || || || FTT valuation || After Binance announcement of plans to acquire FTX, but before pulling out from the deal, a massive sell-off of FTT makes it price plunge about 80%, from around $22 to below $5, wiping out more than $2 billion in a day.<ref>{{cite web |last1=Sigalos |first1=MacKenzie |title=FTX's token plunges 80% on liquidity concerns, wiping out over $2 billion in value |url=https://www.cnbc.com/2022/11/08/ftxs-ftt-token-plunges-80percent-wiping-out-over-2-billion-in-value.html |website=CNBC |access-date=22 November 2022 |language=en}}</ref><ref>{{cite web |title=FTX Token price today, FTT to USD live, marketcap and chart |url=https://coinmarketcap.com/currencies/ftx-token/ |website=CoinMarketCap |access-date=22 November 2022 |language=en}}</ref>  
 
| November 8 || circa 5 p.m. – 8 p.m. || || || FTT valuation || After Binance announcement of plans to acquire FTX, but before pulling out from the deal, a massive sell-off of FTT makes it price plunge about 80%, from around $22 to below $5, wiping out more than $2 billion in a day.<ref>{{cite web |last1=Sigalos |first1=MacKenzie |title=FTX's token plunges 80% on liquidity concerns, wiping out over $2 billion in value |url=https://www.cnbc.com/2022/11/08/ftxs-ftt-token-plunges-80percent-wiping-out-over-2-billion-in-value.html |website=CNBC |access-date=22 November 2022 |language=en}}</ref><ref>{{cite web |title=FTX Token price today, FTT to USD live, marketcap and chart |url=https://coinmarketcap.com/currencies/ftx-token/ |website=CoinMarketCap |access-date=22 November 2022 |language=en}}</ref>  
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| November 8 || 7:14 p.m. || {{w|Coinbase}}, [[w:Kraken (company)|Kraken]] || || Impact in industry || Amid market turbulence, {{w|Coinbase}} and [[w:Kraken (company)|Kraken]] platforms experience issues related to connectivity to the platforms and unconfirmed rumors of halted withdrawals. Complaints are posted on Twitter.<ref>{{cite web |title=Coinbase and Kraken experience limited services amid markets turbulence |url=https://cointelegraph.com/news/coinbase-and-kraken-experience-limited-services-amid-markets-turbulence |website=Cointelegraph |access-date=15 November 2022 |language=en}}</ref>     
 
| November 8 || 7:14 p.m. || {{w|Coinbase}}, [[w:Kraken (company)|Kraken]] || || Impact in industry || Amid market turbulence, {{w|Coinbase}} and [[w:Kraken (company)|Kraken]] platforms experience issues related to connectivity to the platforms and unconfirmed rumors of halted withdrawals. Complaints are posted on Twitter.<ref>{{cite web |title=Coinbase and Kraken experience limited services amid markets turbulence |url=https://cointelegraph.com/news/coinbase-and-kraken-experience-limited-services-amid-markets-turbulence |website=Cointelegraph |access-date=15 November 2022 |language=en}}</ref>     
 
|-
 
|-
| November 8 || 7:6 p.m. || Effective Altruism Forum members || Tweet || FTX collapse || A number of Effective Altruism Forum members post a summary of key events of the FTX crisis as document with the purpose to add clarity. The authors estimate a ~90% of SBF failing in his attempt to raise funds to cover deposits.<ref>{{cite web |last1=Young |first1=Nathan |last2=Wingerden |first2=Stan van |last3=Gil |first3=Juan |title=FTX Crisis. What we know and some forecasts on what will happen next |url=https://forum.effectivealtruism.org/posts/yjGye7Q2jRG3jNfi2/ftx-crisis-what-we-know-and-some-forecasts-on-what-will |access-date=17 November 2022 |language=en}}</ref>  
+
| November 8 || 7:16 p.m. || Effective Altruism Forum members || Tweet || FTX collapse || A number of Effective Altruism Forum members post a summary of key events of the FTX crisis as document with the purpose to add clarity. The authors estimate a ~90% of SBF failing in his attempt to raise funds to cover deposits.<ref>{{cite web |last1=Young |first1=Nathan |last2=Wingerden |first2=Stan van |last3=Gil |first3=Juan |title=FTX Crisis. What we know and some forecasts on what will happen next |url=https://forum.effectivealtruism.org/posts/yjGye7Q2jRG3jNfi2/ftx-crisis-what-we-know-and-some-forecasts-on-what-will |access-date=17 November 2022 |language=en}}</ref>  
 
|-
 
|-
| November 8 || 8:14 p.m. || Dylan LeClair || Tweet || Customer withdrawal || UTXO Management senior analyst Dylan LeClair tweets: {{quote|Don't mean to be the bearer of bad news here, but if it isn't clear already, if you still have funds on FTX, they're gone. You're an unsecured creditor. The probable outcome is Chapter 11 & a class action lawsuit that draws out for years, where you get $0.10-$0.30 on the dollar.<ref name=jdj/>}} He also posts on the thread: {{quote|Similarly, expecting CZ to come in with billions of cash purely to make users whole does not make sense from a business perspective.<ref name=jdj>{{cite web|author=Dylan LeClair |title=if you still have funds on FTX, they're gone. |url=https://twitter.com/DylanLeClair_/status/1590120636638105600 |website=Twitter |access-date=13 November 2022 |language=en|archive-url=https://web.archive.org/web/20221109165921/https://twitter.com/DylanLeClair_/status/1590120636638105600|archive-date=November 9, 2022}}</ref>}}
+
| November 8 || 7:26 p.m. || Lyn Alden || Tweet || Notable comment || Lyn Alden, founder of Lyn Alden Investment Strategy, starts a two-tweet thread illustrating the printing of FTT token. Alden writes: {{quote|Imagine McDonald's makes its own money, let's call them clown-bucks, keeps most of it, and sells some to the market. McDonald's then uses their remaining clown-bucks as collateral for actual loans. And then people remember clown-bucks aren't real. And then Starbucks comes and market sells the clown-bucks they were holding, while reminding the market that clown-bucks aren't really a thing. McDonald's balance sheet is trashed, with their clown-bucks wiped out. Anyway, that's what happened in crypto-land this week.<ref name="Alden">{{cite web|author=Lyn Alden |title=Imagine McDonald's makes its own money |url=https://twitter.com/LynAldenContact/status/1590063257158811648 |website=Twitter |access-date=30 November 2022 |language=en|archive-url=https://web.archive.org/web/20221110173446/https://twitter.com/LynAldenContact/status/1590063257158811648|archive-date=November 10, 2022}}</ref>}}
 
|-
 
|-
| November 8 || 8:16 p.m. || [[w:Kraken (company)|Kraken Exchange]] || Tweet || Security || [[w:Kraken (company)|Kraken Exchange]] in its official account on Twitter posts: {{quote|Check if the exchange you’re using undergoes Proof of Reserves audits.
+
| November 8 || 8:14 p.m. || Dylan LeClair || Tweet || Impact on users || UTXO Management senior analyst Dylan LeClair tweets: {{quote|Don't mean to be the bearer of bad news here, but if it isn't clear already, if you still have funds on FTX, they're gone. You're an unsecured creditor. The probable outcome is Chapter 11 & a class action lawsuit that draws out for years, where you get $0.10-$0.30 on the dollar.<ref name=jdj/>}} He also posts on the thread: {{quote|Similarly, expecting CZ to come in with billions of cash purely to make users whole does not make sense from a business perspective.<ref name=jdj>{{cite web|author=Dylan LeClair |title=if you still have funds on FTX, they're gone. |url=https://twitter.com/DylanLeClair_/status/1590120636638105600 |website=Twitter |access-date=13 November 2022 |language=en|archive-url=https://web.archive.org/web/20221109165921/https://twitter.com/DylanLeClair_/status/1590120636638105600|archive-date=November 9, 2022}}</ref>}}
 +
|-
 +
| November 8 || 8:16 p.m. || [[w:Kraken (company)|Kraken Exchange]] || Tweet || Industry peer reaction || [[w:Kraken (company)|Kraken Exchange]] in its official account on Twitter posts: {{quote|Check if the exchange you’re using undergoes Proof of Reserves audits.
  
 
ICYMI: Kraken is committed to regular audits - enabling you to verify the balances you hold on our exchange are backed by real assets.<ref>{{cite web|author=[[w:Kraken (company)|Kraken]] |title=Kraken is committed to regular audits |url=https://twitter.com/krakenfx/status/1590075849398550528 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221110124129/https://twitter.com/krakenfx/status/1590075849398550528|archive-date=November 10, 2022}}</ref>}}  
 
ICYMI: Kraken is committed to regular audits - enabling you to verify the balances you hold on our exchange are backed by real assets.<ref>{{cite web|author=[[w:Kraken (company)|Kraken]] |title=Kraken is committed to regular audits |url=https://twitter.com/krakenfx/status/1590075849398550528 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221110124129/https://twitter.com/krakenfx/status/1590075849398550528|archive-date=November 10, 2022}}</ref>}}  
 
|-
 
|-
| November 8 || 9:07 p.m. || [[w:Brian Armstrong (businessman)|Brian Armstrong]] || Tweet || Industry peer reaction || [[w:Brian Armstrong (businessman)|Brian Armstrong]] publishes a 13-tweet thread addressing the FTX crisis. Among the announcements, he states that Coinbase doesn't have any material exposure to FTX or FTT (and no exposure to Alameda). Another of his tweets reads: {{quote| I think it's important to reinforce what differentiates Coinbase in a moment like this. This event appears to be the result of risky business practices, including conflicts of interest between deeply intertwined entities, and mis-use of customer funds (lending user assets).<ref>{{cite web |title=First off, I have a lot of sympathy for everyone involved in the current situation with FTX |url=https://twitter.com/brian_armstrong/status/1590088673726717952 |website=Twitter |access-date=22 November 2022 |language=en|archive-url=}}</ref>}}
+
| November 8 || 9:07 p.m. || [[w:Brian Armstrong (businessman)|Brian Armstrong]] || Tweet || Industry peer reaction || [[w:Brian Armstrong (businessman)|Brian Armstrong]] publishes a 13-tweet thread addressing the FTX crisis. Among the announcements, he states that Coinbase doesn't have any material exposure to FTX or FTT (and no exposure to Alameda). Another of his tweets reads: {{quote| I think it's important to reinforce what differentiates Coinbase in a moment like this. This event appears to be the result of risky business practices, including conflicts of interest between deeply intertwined entities, and mis-use of customer funds (lending user assets).<ref>{{cite web|author=[[w:Brian Armstrong (businessman)|Brian Armstrong]] |title=First off, I have a lot of sympathy for everyone involved in the current situation with FTX |url=https://twitter.com/brian_armstrong/status/1590088673726717952 |website=Twitter |access-date=22 November 2022 |language=en|archive-url=}}</ref>}}
 
|-
 
|-
| November 8 || 9:25 p.m. || {{w|Sam Bankman-Fried}} || email || Binance rescue || A {{w|Substack}} newsletter Newcomer writer publishes an email SBF sent to his investors with subject line as “FTX Update”<ref>{{cite web |last1=Newcomer |first1=Eric |title=EXCLUSIVE: Read Sam Bankman-Fried's Email to the Investors He's Ghosting |url=https://www.newcomer.co/p/exclusive-read-sam-bankman-frieds?r=1rgbxv |website=www.newcomer.co |access-date=16 November 2022 |language=en}}</ref>, SBF apologizes over a lack of communication about the deal with Binance.<ref name="FTX collapse tim">{{cite web |title=FTX collapse timeline: Six days that rocked the crypto industry |url=https://www.theblock.co/post/186132/ftx-collapse-timeline-six-days-that-rocked-the-crypto-industry |website=The Block |access-date=15 November 2022 |language=en}}</ref> He writes: {{quote|I'm sorry I've been hard to contact the last few days (...) I wish I had more details for you guys right now; I don’t yet.<ref>{{cite web|author=Will Clemente |title=SBF letter to investors |url=https://twitter.com/WClementeIII/status/1590107340317294593 |website=Twitter |access-date=November 16, 2022 |language=en|archive-url=https://web.archive.org/web/20221117132835/https://twitter.com/WClementeIII/status/1590107340317294593|archive-date=November 17, 2022}}</ref><ref>{{cite web |title=Bankman-Fried apologizes to FTX investors for lack of communication over Binance deal |url=https://www.theblock.co/post/184542/bankman-fried-apologizes-to-ftx-investors-for-lack-of-communication-over-binance-deal |website=The Block |access-date=15 November 2022 |language=en}}</ref>}}
+
| November 8 || 9:25 p.m. || {{w|Sam Bankman-Fried}} || email || Rescue attempt || A {{w|Substack}} newsletter Newcomer writer publishes an email SBF sent to his investors with subject line as “FTX Update”<ref>{{cite web |last1=Newcomer |first1=Eric |title=EXCLUSIVE: Read Sam Bankman-Fried's Email to the Investors He's Ghosting |url=https://www.newcomer.co/p/exclusive-read-sam-bankman-frieds?r=1rgbxv |website=www.newcomer.co |access-date=16 November 2022 |language=en}}</ref>, SBF apologizes over a lack of communication about the deal with Binance.<ref name="FTX collapse tim">{{cite web |title=FTX collapse timeline: Six days that rocked the crypto industry |url=https://www.theblock.co/post/186132/ftx-collapse-timeline-six-days-that-rocked-the-crypto-industry |website=The Block |access-date=15 November 2022 |language=en}}</ref> He writes: {{quote|I'm sorry I've been hard to contact the last few days (...) I wish I had more details for you guys right now; I don’t yet.<ref>{{cite web|author=Will Clemente |title=SBF letter to investors |url=https://twitter.com/WClementeIII/status/1590107340317294593 |website=Twitter |access-date=November 16, 2022 |language=en|archive-url=https://web.archive.org/web/20221117132835/https://twitter.com/WClementeIII/status/1590107340317294593|archive-date=November 17, 2022}}</ref><ref>{{cite web |title=Bankman-Fried apologizes to FTX investors for lack of communication over Binance deal |url=https://www.theblock.co/post/184542/bankman-fried-apologizes-to-ftx-investors-for-lack-of-communication-over-binance-deal |website=The Block |access-date=15 November 2022 |language=en}}</ref>}}
 
|-
 
|-
 
| November 8 || 10:30 pm || {{w|Sam Bankman-Fried}} || Tweet || Tweet removal || SBF removes his “assets are fine” thread a few hours after announcing a strategic transaction with Binance.<ref name="FTX foun">{{cite web |title=FTX founder Sam Bankman-Fried removes ‘assets are fine’ flood from Twitter |url=https://cointelegraph.com/news/ftx-founder-sam-bankman-fried-removes-assets-are-fine-flood-from-twitter |website=Cointelegraph |access-date=13 November 2022 |language=en}}</ref>  
 
| November 8 || 10:30 pm || {{w|Sam Bankman-Fried}} || Tweet || Tweet removal || SBF removes his “assets are fine” thread a few hours after announcing a strategic transaction with Binance.<ref name="FTX foun">{{cite web |title=FTX founder Sam Bankman-Fried removes ‘assets are fine’ flood from Twitter |url=https://cointelegraph.com/news/ftx-founder-sam-bankman-fried-removes-assets-are-fine-flood-from-twitter |website=Cointelegraph |access-date=13 November 2022 |language=en}}</ref>  
 
|-
 
|-
| November 8 || 10:42 p.m. || {{w|Jeremy Allaire}} || Tweet || Industry peer reaction || {{w|Jeremy Allaire}}, co-founder and CEO of stablecoin issuer Circle, publishes a 15-tweet thread expressing his thoughts on the FTX and Binance situation. Allaire denies exposure to FTX. He also tweets: {{quote|The good news is that the foundations that have been built with crypto infrastructure and public chains give us the building blocks to now re-make financial services with radically more transparency than we've ever known.<ref>{{cite web |title=Some initial reflections on the FTX and Binance situation, and what impact we think this has on Circle, USDC and crypto more generally |url=https://twitter.com/jerallaire/status/1590112483532210179 |website=Twitter |access-date=22 November 2022 |language=en|archive-url=https://web.archive.org/web/20221110021622/https://twitter.com/jerallaire/status/1590112483532210179|archive-date=November 10, 2022}}</ref>}}
+
| November 8 || 10:42 p.m. || {{w|Jeremy Allaire}} || Tweet || Industry peer reaction || {{w|Jeremy Allaire}}, co-founder and CEO of stablecoin issuer Circle, publishes a 15-tweet thread expressing his thoughts on the FTX and Binance situation. Allaire denies exposure to FTX. He also tweets: {{quote|The good news is that the foundations that have been built with crypto infrastructure and public chains give us the building blocks to now re-make financial services with radically more transparency than we've ever known.<ref>{{cite web|author={{w|Jeremy Allaire}} |title=Some initial reflections on the FTX and Binance situation, and what impact we think this has on Circle, USDC and crypto more generally |url=https://twitter.com/jerallaire/status/1590112483532210179 |website=Twitter |access-date=22 November 2022 |language=en|archive-url=https://web.archive.org/web/20221110021622/https://twitter.com/jerallaire/status/1590112483532210179|archive-date=November 10, 2022}}</ref>}}
 +
|-
 +
| November 8 || 11:22 p.m. || Lucas Nuzzi || Tweet || Financial (FTX-Alameda connection) || Crypto Security Researcher Lucas Nuzzi publishes a 15-tweet thread describing having found evidence that FTX might have provided a massive bailout for Alameda in September 28, when 173 million FTT tokens worth over 4 billion USD became active on-chain. This would be discovered and seen as oportunity from competitor Binance, a large holder of FTT, which could start deliberately tanking FTT's market to force a liquidity crunch.        <ref name=LucasNuzzi>{{cite web|author=Lucas Nuzzi |title=40 days ago, 173 million FTT tokens worth over 4B USD became active on-chain |url=https://twitter.com/LucasNuzzi/status/1590122590206824448 |website=Twitter |access-date=13 November 2022 |language=en|archive-url=https://web.archive.org/web/20221112233710/https://twitter.com/LucasNuzzi/status/1590122590206824448|archive-date=November 12, 2022}}</ref> He also notes FTX may have minted a lot of Serum (SRM) out of thin air to prop up its balance sheet.<ref name="Sadly, FTX"/>
 +
|-
 +
| November 8 || 9:52 p.m. || Tom Maloney || Article || SBF net worth || Tom Maloney at [[W:Bloomberg News|Bloomberg]] reports on SBF net worth dropping an estimated 94%, the largest one day drop in the {{w|Bloomberg Billionaires Index}} history, from $15.6 billion to about $1 billion.<ref>{{cite web |title=Sam Bankman-Fried’s $16 Billion Fortune Is Eviscerated in Days |url=https://www.bloomberg.com/news/articles/2022-11-08/sbf-net-worth-is-eviscerated-in-days-with-binance-set-to-buy-ftx?leadSource=uverify+wall |website=Bloomberg.com |access-date=3 December 2022 |language=en |date=8 November 2022}}</ref>
 
|-
 
|-
| November 8 || 11:22 p.m. || Lucas Nuzzi || Tweet || {{w|Bailout}} || Crypto Security Researcher Lucas Nuzzi publishes a 15-tweet thread describing having found evidence that FTX might have provided a massive bailout for Alameda in September 28, when 173 million FTT tokens worth over 4 billion USD became active on-chain. This would be discovered and seen as oportunity from competitor Binance, a large holder of FTT, which could start deliberately tanking FTT's market to force a liquidity crunch.         <ref name=LucasNuzzi>{{cite web|author=Lucas Nuzzi |title=40 days ago, 173 million FTT tokens worth over 4B USD became active on-chain |url=https://twitter.com/LucasNuzzi/status/1590122590206824448 |website=Twitter |access-date=13 November 2022 |language=en|archive-url=https://web.archive.org/web/20221112233710/https://twitter.com/LucasNuzzi/status/1590122590206824448|archive-date=November 12, 2022}}</ref> He also notes FTX may have minted a lot of Serum (SRM) out of thin air to prop up its balance sheet.<ref name="Sadly, FTX"/>
+
| November 9 || 12:32 p.m. || {{w|CoinDesk}} || Article || Rescue attempt || CoinDesk becomes the first to report Binance is strongly leaning against buying FTX after just a few hours of checking its books and loans.<ref name="Keoun">{{cite web |last1=Keoun |first1=Sage D. Young and Bradley |title=The Epic Collapse of Sam Bankman-Fried's FTX Exchange: A Crypto Markets Timeline |url=https://www.coindesk.com/markets/2022/11/12/the-epic-collapse-of-sam-bankman-frieds-ftx-exchange-a-crypto-markets-timeline/ |website=www.coindesk.com |access-date=17 November 2022 |language=en |date=12 November 2022}}</ref><ref>{{cite web |last1=Allison |first1=Ian |title=Binance Is Strongly Leaning Toward Scrapping FTX Rescue Takeover After First Glance at Books: Source |url=https://www.coindesk.com/business/2022/11/09/binance-is-strongly-leaning-toward-scrapping-ftx-rescue-takeover-after-first-glance-at-books-source/ |website=www.coindesk.com |access-date=17 November 2022 |language=en |date=9 November 2022}}</ref>
 
|-
 
|-
| November 9 || 1:06 p.m. || {{w|Edward Snowden}} || Tweet || Notable people reaction || Famous whistleblower {{w|Edward Snowden}} tweets: {{quote|Custodial exchanges were a mistake.<ref>{{cite web |title=Custodial exchanges were a mistake |url=https://twitter.com/Snowden/status/1590329982106365952 |website=Twitter |access-date=22 November 2022 |language=en|archive-url=https://web.archive.org/web/20221113203330/https://twitter.com/Snowden/status/1590329982106365952|archive-date=November 13, 2022}}</ref>}}
+
| November 9 || 1:06 p.m. || {{w|Edward Snowden}} || Tweet || Notable comment || Famous whistleblower {{w|Edward Snowden}} tweets: {{quote|Custodial exchanges were a mistake.<ref>{{cite web|author={{w|Edward Snowden}} |title=Custodial exchanges were a mistake |url=https://twitter.com/Snowden/status/1590329982106365952 |website=Twitter |access-date=22 November 2022 |language=en|archive-url=https://web.archive.org/web/20221113203330/https://twitter.com/Snowden/status/1590329982106365952|archive-date=November 13, 2022}}</ref>}}
 
|-
 
|-
 
| November 9 || 2:30 p.m. || {{w|Changpeng Zhao}} || Tweet || FTX collapse || {{w|Changpeng Zhao}} shares on Twitter a note to Binance employees, telling staff that the near FTX collapse wasn't planned and would likely trigger increased regulatory scrutiny. The note reads: {{quote|We did not master plan this or anything related to it (...) FTX going down is not good for anyone in the industry. Do not view it as a "win for us".<ref>{{cite web|author={{w|Changpeng Zhao}} |title=In the spirit of transparency, might as well share the actual note, sent to all Binance team globally a few hours ago. |url=https://twitter.com/cz_binance/status/1590351182513729544 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116040509/https://twitter.com/cz_binance/status/1590351182513729544|archive-date=November 16, 2022}}</ref>}}
 
| November 9 || 2:30 p.m. || {{w|Changpeng Zhao}} || Tweet || FTX collapse || {{w|Changpeng Zhao}} shares on Twitter a note to Binance employees, telling staff that the near FTX collapse wasn't planned and would likely trigger increased regulatory scrutiny. The note reads: {{quote|We did not master plan this or anything related to it (...) FTX going down is not good for anyone in the industry. Do not view it as a "win for us".<ref>{{cite web|author={{w|Changpeng Zhao}} |title=In the spirit of transparency, might as well share the actual note, sent to all Binance team globally a few hours ago. |url=https://twitter.com/cz_binance/status/1590351182513729544 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116040509/https://twitter.com/cz_binance/status/1590351182513729544|archive-date=November 16, 2022}}</ref>}}
Line 212: Line 270:
 
| November 9 || 8:10 p.m. || {{w|Matt Levine}} || Article || FTX collapse || Financial writer {{w|Matt Levine}} at ''{{w|Bloomberg News}}'' publishes an article explaining the FTX crisis as a {{w|death spiral financing}} case.<ref>{{cite web |title=FTX Had a Death Spiral |url=https://www.bloomberg.com/opinion/articles/2022-11-09/bankman-fried-s-ftx-had-a-death-spiral-before-binance-deal?leadSource=uverify+wall |website=Bloomberg.com |access-date=21 November 2022 |language=en |date=9 November 2022}}</ref><ref>{{cite web |last1=Temple |first1=Elliot |title=Money Stuff: FTX Had a Death Spiral |url=https://forum.effectivealtruism.org/posts/EKN9Nn89ixriwSXpP/money-stuff-ftx-had-a-death-spiral |website=forum.effectivealtruism.org |access-date=21 November 2022 |language=en}}</ref> On November 10, Levine would further expand the case in a new article.<ref>{{cite web |title=FTX Is Still Looking for Money |url=https://www.bloomberg.com/opinion/articles/2022-11-10/ftx-is-still-looking-for-money?leadSource=uverify+wall |website=Bloomberg.com |access-date=21 November 2022 |language=en |date=10 November 2022}}</ref>
 
| November 9 || 8:10 p.m. || {{w|Matt Levine}} || Article || FTX collapse || Financial writer {{w|Matt Levine}} at ''{{w|Bloomberg News}}'' publishes an article explaining the FTX crisis as a {{w|death spiral financing}} case.<ref>{{cite web |title=FTX Had a Death Spiral |url=https://www.bloomberg.com/opinion/articles/2022-11-09/bankman-fried-s-ftx-had-a-death-spiral-before-binance-deal?leadSource=uverify+wall |website=Bloomberg.com |access-date=21 November 2022 |language=en |date=9 November 2022}}</ref><ref>{{cite web |last1=Temple |first1=Elliot |title=Money Stuff: FTX Had a Death Spiral |url=https://forum.effectivealtruism.org/posts/EKN9Nn89ixriwSXpP/money-stuff-ftx-had-a-death-spiral |website=forum.effectivealtruism.org |access-date=21 November 2022 |language=en}}</ref> On November 10, Levine would further expand the case in a new article.<ref>{{cite web |title=FTX Is Still Looking for Money |url=https://www.bloomberg.com/opinion/articles/2022-11-10/ftx-is-still-looking-for-money?leadSource=uverify+wall |website=Bloomberg.com |access-date=21 November 2022 |language=en |date=10 November 2022}}</ref>
 
|-
 
|-
| November 9 || 9:00 pm || {{w|Binance}} || Tweet || Binance rescue || {{w|Binance}} tweets: {{quote|As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com.<ref>{{cite web |author={{w|Binance}}|title=we have decided that we will not pursue the potential acquisition of FTX.com. |url=https://twitter.com/binance/status/1590449161069268992 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116042635/https://twitter.com/binance/status/1590449161069268992|archive-date=November 16, 2022}}</ref>}} In another statement of the thread, Binance says: {{quote|Our hope was to be able to support FTX's customers to provide liquidity, but the issues are beyond our control or ability to help.<ref>{{cite web |title=Binance backs out of FTX acquisition deal |url=https://www.theblock.co/post/184636/binance-backs-out-of-ftx-acquisition-deal |website=The Block |access-date=15 November 2022 |language=en}}</ref>}} The decision is the result of Binance executives poring over FTX’s books, in which they were confronted with a confusing mess, according with a person familiar with the matter, who also said that FTX first put the hole that needed to be plugged at $2 billion, then $5 billion, then finally more than $8 billion. People familiar with the matter would also report on many of FTX’s lawyers quitting while the talks were under way.<ref name="Wall Street Article"/>
+
| November 9 || 9:00 pm || {{w|Binance}} || Tweet || Rescue attempt || {{w|Binance}} tweets: {{quote|As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com.<ref>{{cite web |author={{w|Binance}}|title=we have decided that we will not pursue the potential acquisition of FTX.com. |url=https://twitter.com/binance/status/1590449161069268992 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116042635/https://twitter.com/binance/status/1590449161069268992|archive-date=November 16, 2022}}</ref>}} In another statement of the thread, Binance says: {{quote|Our hope was to be able to support FTX's customers to provide liquidity, but the issues are beyond our control or ability to help.<ref>{{cite web |title=Binance backs out of FTX acquisition deal |url=https://www.theblock.co/post/184636/binance-backs-out-of-ftx-acquisition-deal |website=The Block |access-date=15 November 2022 |language=en}}</ref>}} The decision is the result of Binance executives poring over FTX’s books, in which they were confronted with a confusing mess, according with a person familiar with the matter, who also said that FTX first put the hole that needed to be plugged at $2 billion, then $5 billion, then finally more than $8 billion. People familiar with the matter would also report on many of FTX’s lawyers quitting while the talks were under way.<ref name="Wall Street Article"/>
 
|-
 
|-
| November 9 || circa 9:20 p.m. || || || {{w|Bitcoin}} value || Bitcoin falls as low as $16,027. At 9:20 p.m. UTC, BTC trades at $16,120.<ref>{{cite web |title=Bitcoin losses continue after Binance quits FTX deal |url=https://www.theblock.co/post/185018/bitcoin-losses-continue-after-binance-quits-ftx-deal |website=The Block |access-date=15 November 2022 |language=en}}</ref>
+
| November 9 || circa 9:20 p.m. || || || Impact on other assets || Bitcoin falls as low as $16,027. At 9:20 p.m. UTC, BTC trades at $16,120.<ref>{{cite web |title=Bitcoin losses continue after Binance quits FTX deal |url=https://www.theblock.co/post/185018/bitcoin-losses-continue-after-binance-quits-ftx-deal |website=The Block |access-date=15 November 2022 |language=en}}</ref>
 
|-
 
|-
| November 9 || 9:56 p.m. || {{w|Changpeng Zhao}} || Tweet || Binance rescue || {{w|Changpeng Zhao}} comments on the incapacity of Binance to push ahead with the deal to acquire FTX. CZ tweets: {{quote|Sad day. Tried, but 😭<ref>{{cite web |author={{w|Changpeng Zhao}}|title=Sad day. Tried, but 😭|url=https://twitter.com/cz_binance/status/1590463239925944320 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116051149/https://twitter.com/cz_binance/status/1590463239925944320|archive-date=November 16, 2022}}</ref>}}  
+
| November 9 || 9:56 p.m. || {{w|Changpeng Zhao}} || Tweet || Rescue attempt || {{w|Changpeng Zhao}} comments on the incapacity of Binance to push ahead with the deal to acquire FTX. CZ tweets: {{quote|Sad day. Tried, but 😭<ref>{{cite web |author={{w|Changpeng Zhao}}|title=Sad day. Tried, but 😭|url=https://twitter.com/cz_binance/status/1590463239925944320 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116051149/https://twitter.com/cz_binance/status/1590463239925944320|archive-date=November 16, 2022}}</ref>}}  
 
|-
 
|-
 
| November 9 || circa 10:00 p.m. || || || FTX website instability || The first outage at the FTX website occurs, and the website appears to struggle to stay online. The instability impacts FTX’s international site, while its affiliate FTX.US appears unaffected. An error message at FTX.com reads: {{quote|We're sorry, something went wrong while processing your request. Please try again later.<ref>{{cite web |title=Instability hits FTX website during crypto market tumult |url=https://www.theblock.co/post/185061/instability-hits-ftx-website-during-crypto-market-tumult |website=The Block |access-date=15 November 2022 |language=en}}</ref>}}
 
| November 9 || circa 10:00 p.m. || || || FTX website instability || The first outage at the FTX website occurs, and the website appears to struggle to stay online. The instability impacts FTX’s international site, while its affiliate FTX.US appears unaffected. An error message at FTX.com reads: {{quote|We're sorry, something went wrong while processing your request. Please try again later.<ref>{{cite web |title=Instability hits FTX website during crypto market tumult |url=https://www.theblock.co/post/185061/instability-hits-ftx-website-during-crypto-market-tumult |website=The Block |access-date=15 November 2022 |language=en}}</ref>}}
 
|-
 
|-
| November 9 || 12:32 p.m. || {{w|CoinDesk}} || Article || Binance rescue || CoinDesk becomes the first to report Binance is strongly leaning against buying FTX after just a few hours of checking its books and loans.<ref name="Keoun">{{cite web |last1=Keoun |first1=Sage D. Young and Bradley |title=The Epic Collapse of Sam Bankman-Fried's FTX Exchange: A Crypto Markets Timeline |url=https://www.coindesk.com/markets/2022/11/12/the-epic-collapse-of-sam-bankman-frieds-ftx-exchange-a-crypto-markets-timeline/ |website=www.coindesk.com |access-date=17 November 2022 |language=en |date=12 November 2022}}</ref><ref>{{cite web |last1=Allison |first1=Ian |title=Binance Is Strongly Leaning Toward Scrapping FTX Rescue Takeover After First Glance at Books: Source |url=https://www.coindesk.com/business/2022/11/09/binance-is-strongly-leaning-toward-scrapping-ftx-rescue-takeover-after-first-glance-at-books-source/ |website=www.coindesk.com |access-date=17 November 2022 |language=en |date=9 November 2022}}</ref>
+
| November 10 || 3:00 a.m. || {{w|Justin Sun}} || Tweet || Rescue attempt || Without details, Tron cryptocurrency network founder {{w|Justin Sun}} drops hints at saving FTX.<ref name="Keoun"/><ref>{{cite web |last1=De |first1=Nikhilesh |title=Without Details, Tron's Justin Sun Says He's 'Putting Together Solution' for FTX |url=https://www.coindesk.com/business/2022/11/10/without-details-trons-justin-sun-says-hes-putting-together-solution-for-ftx/ |website=www.coindesk.com |access-date=17 November 2022 |language=en |date=10 November 2022}}</ref> Sun tweets: {{quote|Further to my announcement to stand behind all Tron token (#TRX, #BTT, #JST, #SUN, #HT) holders on #FTX, we are putting together a solution together with #FTX to initiate a pathway forward.<ref>{{cite web|author={{w|Justin Sun}}|title=We are putting together a solution |url=https://twitter.com/justinsuntron/status/1590539831276634112 |website=Twitter |access-date=November 17, 2022 |language=en|archive-url=https://web.archive.org/web/20221115092210/https://twitter.com/justinsuntron/status/1590539831276634112|archive-date=November 15, 2022}}</ref>}}   
|-
 
| November 10 || 3:00 a.m. || {{w|Justin Sun}} || Tweet || Tron rescue || Without details, Tron cryptocurrency network founder {{w|Justin Sun}} drops hints at saving FTX.<ref name="Keoun"/><ref>{{cite web |last1=De |first1=Nikhilesh |title=Without Details, Tron's Justin Sun Says He's 'Putting Together Solution' for FTX |url=https://www.coindesk.com/business/2022/11/10/without-details-trons-justin-sun-says-hes-putting-together-solution-for-ftx/ |website=www.coindesk.com |access-date=17 November 2022 |language=en |date=10 November 2022}}</ref> Sun tweets: {{quote|Further to my announcement to stand behind all Tron token (#TRX, #BTT, #JST, #SUN, #HT) holders on #FTX, we are putting together a solution together with #FTX to initiate a pathway forward.<ref>{{cite web|author={{w|Justin Sun}}|title=We are putting together a solution |url=https://twitter.com/justinsuntron/status/1590539831276634112 |website=Twitter |access-date=November 17, 2022 |language=en|archive-url=https://web.archive.org/web/20221115092210/https://twitter.com/justinsuntron/status/1590539831276634112|archive-date=November 15, 2022}}</ref>}}   
 
 
|-
 
|-
| November 10 || 9:19 a.m. || Jesse Powell || Tweet || Industry peer reaction || [[w:Kraken (company)|Kraken]] former CEO Jesse Powell publishes 14-tweet thread reflecting on the FTX crisis.<ref>{{cite web |title=Red flags |url=https://twitter.com/jespow/status/1590635239960850432 |website=Twitter |access-date=22 November 2022 |language=en|archive-url=https://web.archive.org/web/20221110100922/https://twitter.com/jespow/status/1590635239960850432|archive-date=November 10, 2022}}</ref> The first tweet reads: {{quote|This industry is made up of so many smart, passionate, open-minded, welcoming people, with genuine humanitarian interest at heart. I know we're going to get past this. True believers will not be deterred. But, this is a massive setback. I'm really trying to control my rage.}}     
+
| November 10 || 9:19 a.m. || Jesse Powell || Tweet || Industry peer reaction || [[w:Kraken (company)|Kraken]] former CEO Jesse Powell publishes 14-tweet thread reflecting on the FTX crisis.<ref>{{cite web|author=Jesse Powell|title=Red flags |url=https://twitter.com/jespow/status/1590635239960850432 |website=Twitter |access-date=22 November 2022 |language=en|archive-url=https://web.archive.org/web/20221110100922/https://twitter.com/jespow/status/1590635239960850432|archive-date=November 10, 2022}}</ref> The first tweet reads: {{quote|This industry is made up of so many smart, passionate, open-minded, welcoming people, with genuine humanitarian interest at heart. I know we're going to get past this. True believers will not be deterred. But, this is a massive setback. I'm really trying to control my rage.}}     
  
 
Another of his tweets reads: {{quote|Red flags:
 
Another of his tweets reads: {{quote|Red flags:
Line 234: Line 290:
 
* EA virtue signaling
 
* EA virtue signaling
 
* FTT}}
 
* FTT}}
|-
 
| November 10 || 11:31 p.m. || Evan Hubinger || Effective Altruism Forum post || Impact on {{w|effective altruism}} || A post by Evan Hubinger on the Effective Altruism Forum discusses engaging in fraudulent activities for the sake of effective altruism. The post concludes that, if FTX did engage in fraud, the lasting consequences to effective altruism —and the damage caused by FTX to all of their customers and employees—will likely outweigh the altruistic funding already provided by FTX to effective causes.<ref>{{cite web |title=We must be very clear: fraud in the service of effective altruism is unacceptable |url=https://forum.effectivealtruism.org/posts/XHrHsrQGyr4NnqCA7/we-must-be-very-clear-fraud-in-the-service-of-effective |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
 
|-
 
|-
| November 10 || 11:51 a.m. || || Effective Altruism Forum post || Grantmaking || A post by Julia Wise on the Effective Altruism Forum adresses people affected by the collapse of FTX, offering support from the community health team. Affected individuals include customers as well as grantees by FTX Future Fund, a project of the FTX Foundation, a philanthropic foundation funded primarily by Sam Bankman-Fried.<ref>{{cite web |title=Community support given FTX situation |url=https://forum.effectivealtruism.org/posts/BesfLENShzSMeb7Xi/community-support-given-ftx-situation |website=forum.effectivealtruism.org |access-date=17 November 2022 |language=en}}</ref> FTX is connected to the effective altruist community, which received millions of dollars of funding from SBF and FTX via Future Fund.<ref name="FTX FAQ">{{cite web |last1=Doodles |first1=Hamish |title=FTX FAQ |url=https://forum.effectivealtruism.org/posts/j7sDfXKEMeT2SRvLG/ftx-faq |website=forum.effectivealtruism.org |access-date=17 November 2022 |language=en}}</ref>
+
| November 10 || 11:51 a.m. || || Effective Altruism Forum post || Impact on effective altruism || A post by Julia Wise on the Effective Altruism Forum adresses people affected by the collapse of FTX, offering support from the community health team. Affected individuals include customers as well as grantees by FTX Future Fund, a project of the FTX Foundation, a philanthropic foundation funded primarily by Sam Bankman-Fried.<ref>{{cite web |title=Community support given FTX situation |url=https://forum.effectivealtruism.org/posts/BesfLENShzSMeb7Xi/community-support-given-ftx-situation |website=forum.effectivealtruism.org |access-date=17 November 2022 |language=en}}</ref> FTX is connected to the effective altruist community, which received millions of dollars of funding from SBF and FTX via Future Fund.<ref name="FTX FAQ">{{cite web |last1=Doodles |first1=Hamish |title=FTX FAQ |url=https://forum.effectivealtruism.org/posts/j7sDfXKEMeT2SRvLG/ftx-faq |website=forum.effectivealtruism.org |access-date=17 November 2022 |language=en}}</ref>
 +
|-
 +
| November 10 || 1:24 p.m. || [[W:Bloomberg News|Bloomberg]] || Article || Impact on users || [[W:Bloomberg News|Bloomberg]] reports on crypto asset manager CoinShares having around $30.3 million in Bitcoin, Ether and USDC stuck in FTX.<ref>{{cite web |title=Crypto Firm CoinShares Reveals $30 Million Exposure to FTX |url=https://www.bloomberg.com/news/articles/2022-11-10/crypto-fund-operator-coinshares-cs-reveals-11-of-assets-exposed-to-ftx-ftt?leadSource=uverify+wall |website=Bloomberg.com |access-date=3 December 2022 |language=en |date=10 November 2022}}</ref>
 
|-
 
|-
 
| November 10 || 2:13 p.m. || {{w|Sam Bankman-Fried}} || Tweet || Bankruptcy || SBF publishes a 22-tweet thread apologizing for the situation and offering and offering his version of events. In the first tweet, SBF says: {{quote|I'm sorry.  That's the biggest thing. I fucked up, and should have done better.<ref>{{cite web |title=I'm sorry.  That's the biggest thing. I fucked up, and should have done better. |author={{w|Sam Bankman-Fried}}|url=https://twitter.com/SBF_FTX/status/1590709166515310593 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116070727/https://twitter.com/SBF_FTX/status/1590709166515310593|archive-date=November 16, 2022}}</ref>}}
 
| November 10 || 2:13 p.m. || {{w|Sam Bankman-Fried}} || Tweet || Bankruptcy || SBF publishes a 22-tweet thread apologizing for the situation and offering and offering his version of events. In the first tweet, SBF says: {{quote|I'm sorry.  That's the biggest thing. I fucked up, and should have done better.<ref>{{cite web |title=I'm sorry.  That's the biggest thing. I fucked up, and should have done better. |author={{w|Sam Bankman-Fried}}|url=https://twitter.com/SBF_FTX/status/1590709166515310593 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116070727/https://twitter.com/SBF_FTX/status/1590709166515310593|archive-date=November 16, 2022}}</ref>}}
 
|-
 
|-
| November 10 || 2:45 p.m. || {{w|Tom Emmer}} || Tweet || Politician reaction || American Republican politician {{w|Tom Emmer}} tweets: {{quote|Interesting. {{w|Gary Gensler}} runs to the media while reports to my office allege he was helping SBF and FTX work on legal loopholes to obtain a regulatory monopoly. We're looking into this.<ref>{{cite web |title=@GaryGensler  runs to the media |url=https://twitter.com/RepTomEmmer/status/1590717374801809409 |website=twitter.com |access-date=22 November 2022|archive-url=https://web.archive.org/web/20221116223409/https://twitter.com/RepTomEmmer/status/1590717374801809409|archive-date=November 16, 2022}}</ref>}}
+
| November 10 || 2:45 p.m. || {{w|Tom Emmer}} || Tweet || Politician reaction || American Republican politician {{w|Tom Emmer}} tweets: {{quote|Interesting. {{w|Gary Gensler}} runs to the media while reports to my office allege he was helping SBF and FTX work on legal loopholes to obtain a regulatory monopoly. We're looking into this.<ref>{{cite web|author={{w|Tom Emmer}}|title=@GaryGensler  runs to the media |url=https://twitter.com/RepTomEmmer/status/1590717374801809409 |website=twitter.com |access-date=22 November 2022|archive-url=https://web.archive.org/web/20221116223409/https://twitter.com/RepTomEmmer/status/1590717374801809409|archive-date=November 16, 2022}}</ref>}}
 
|-
 
|-
| November 10 || 7:48 p.m. || Tron || Tweet || Customer withdrawal || FTX tweets: {{quote|We are pleased to announce that we have reached an agreement with Tron to establish a special facility to allow holders of TRX, BTT, JST, SUN, and HT to swap assets from FTX 1:1 to external wallets.}} In the tweet thread, it is reported that the functionality would be enabled at 18:30 UTC, November 10, and that funding capacity would be provided by Tron. As part of this agreement, Tron deposits would be disabled for all users during this period, allowing only pre-announced deposits conducted weekly.<ref>{{cite web |author=FTX|title=FTX Announcement Regarding the Tron Credit Facility |url=https://twitter.com/FTX_Official/status/1590763245488713729 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115153503/https://twitter.com/FTX_Official/status/1590763245488713729|archive-date=November 15, 2022}}</ref> As a result of this, Tron-based tokens would surge as much as 1000% on FTX as users scramble to find ways of extracting locked-up liquidity from the exchange.<ref>{{cite web |title=Tron-based tokens sell at 1200% premium as FTX users scramble to withdraw |url=https://cointelegraph.com/news/tron-based-tokens-sell-at-1200-premium-as-ftx-users-scramble-to-withdraw |website=Cointelegraph |access-date=12 November 2022 |language=en}}</ref>  
+
| November 10 || 7:08 p.m. || FTX || Tweet || Impact on users || FTX communicates thorugh Twitter: {{quote|Per our Bahamian HQ's regulation and regulators, we have begun to facilitate withdrawals of Bahamian funds. As such, you may have seen some withdrawals processed by FTX recently as we complied with the regulators.<ref>{{cite web|author=FTX |title=we have begun to facilitate withdrawals of Bahamian funds |url=https://twitter.com/FTX_Official/status/1590783569471115264 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115030621/https://twitter.com/FTX_Official/status/1590783569471115264|archive-date=November 15, 2022}}</ref>}}
 +
|-
 +
| November 10 || 7:48 p.m. || Tron || Tweet || Rescue attempt || FTX tweets: {{quote|We are pleased to announce that we have reached an agreement with Tron to establish a special facility to allow holders of TRX, BTT, JST, SUN, and HT to swap assets from FTX 1:1 to external wallets.}} In the tweet thread, it is reported that the functionality would be enabled at 18:30 UTC, November 10, and that funding capacity would be provided by Tron. As part of this agreement, Tron deposits would be disabled for all users during this period, allowing only pre-announced deposits conducted weekly.<ref>{{cite web |author=FTX|title=FTX Announcement Regarding the Tron Credit Facility |url=https://twitter.com/FTX_Official/status/1590763245488713729 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115153503/https://twitter.com/FTX_Official/status/1590763245488713729|archive-date=November 15, 2022}}</ref> As a result of this, Tron-based tokens would surge as much as 1000% on FTX as users scramble to find ways of extracting locked-up liquidity from the exchange.<ref>{{cite web |title=Tron-based tokens sell at 1200% premium as FTX users scramble to withdraw |url=https://cointelegraph.com/news/tron-based-tokens-sell-at-1200-premium-as-ftx-users-scramble-to-withdraw |website=Cointelegraph |access-date=12 November 2022 |language=en}}</ref>  
 
|-
 
|-
 
| November 10 || || {{w|Financial Services Agency}} || || Official intervention || The {{w|Financial Services Agency}} of {{w|Japan}} requests FTX Japan suspend business orders, citing the policies of FTX Trading Limited. FTX Japan is ordered to suspend over-the-counter derivative transactions and related margins as well as new deposits from November 10 to December 9 unless the FSA steps in.<ref>{{cite web |title=Japan’s financial regulator requests FTX Japan halt operations |url=https://cointelegraph.com/news/japan-s-financial-regulator-requests-ftx-japan-halt-operations |website=Cointelegraph |access-date=14 November 2022 |language=en}}</ref><ref>{{cite web |title=FTX Japan株式会社に対する行政処分について:財務省関東財務局 |url=https://lfb.mof.go.jp/kantou/kinyuu/pagekthp202211103297.html |website=lfb.mof.go.jp |access-date=14 November 2022}}</ref>
 
| November 10 || || {{w|Financial Services Agency}} || || Official intervention || The {{w|Financial Services Agency}} of {{w|Japan}} requests FTX Japan suspend business orders, citing the policies of FTX Trading Limited. FTX Japan is ordered to suspend over-the-counter derivative transactions and related margins as well as new deposits from November 10 to December 9 unless the FSA steps in.<ref>{{cite web |title=Japan’s financial regulator requests FTX Japan halt operations |url=https://cointelegraph.com/news/japan-s-financial-regulator-requests-ftx-japan-halt-operations |website=Cointelegraph |access-date=14 November 2022 |language=en}}</ref><ref>{{cite web |title=FTX Japan株式会社に対する行政処分について:財務省関東財務局 |url=https://lfb.mof.go.jp/kantou/kinyuu/pagekthp202211103297.html |website=lfb.mof.go.jp |access-date=14 November 2022}}</ref>
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| November 10 || || Securities Commission of The Bahamas || || Official intervention || FTX assets are frozen by the Securities Commission of The Bahamas, which appoints a liquidator for one of his entities, as SBF raced to raise as much as US$8 billion to save FTX.<ref>{{cite web |title=FTX assets frozen by Bahamas regulator as crypto exchange fights to survive |url=https://www.ft.com/content/c6658ce8-26a3-4580-9e64-6083a7d35eca |website=Financial Times |access-date=12 November 2022 |date=11 November 2022}}</ref>
 
| November 10 || || Securities Commission of The Bahamas || || Official intervention || FTX assets are frozen by the Securities Commission of The Bahamas, which appoints a liquidator for one of his entities, as SBF raced to raise as much as US$8 billion to save FTX.<ref>{{cite web |title=FTX assets frozen by Bahamas regulator as crypto exchange fights to survive |url=https://www.ft.com/content/c6658ce8-26a3-4580-9e64-6083a7d35eca |website=Financial Times |access-date=12 November 2022 |date=11 November 2022}}</ref>
 
|-
 
|-
| November 10 || 10:00 p.m. || {{w|CoinDesk}} || Article || FTX staff || An article published at {{w|CoinDesk}} reports that FTX was run by a group of 10 housemates. Among the 10 housemates, FTX CTO Gary Wang, FTX [[w:Director of Engineering|DOE]] Nishad Singh, and Alameda CEO Caroline Ellison, with Wang, Singh, and SBF controling the code, the exchange's matching engine and funds. According to several current and former FTX and Alameda employees interviewed on the condition of anonymity, members of the team are in {{w|on again, off again relationship}}s, and FTX is "a place full of conflicts of interest, nepotism and lack of oversight". According to a person familiar with the matter: "The whole operation was run by a gang of kids in the Bahamas".<ref name="ICPSqu"/><ref>{{cite web |last1=Wang |first1=Tracy |title=Bankman-Fried’s Cabal of Roommates in the Bahamas Ran His Crypto Empire – and Dated. Other Employees Have Lots of Questions |url=https://www.coindesk.com/business/2022/11/10/bankman-frieds-cabal-of-roommates-in-the-bahamas-ran-his-crypto-empire-and-dated-other-employees-have-lots-of-questions/ |website=www.coindesk.com |access-date=14 November 2022 |language=en |date=10 November 2022}}</ref>  
+
| November 10 || 10:00 p.m. || {{w|CoinDesk}} || Article || Team || An article published at {{w|CoinDesk}} reports that FTX was run by a group of 10 housemates. Among the 10 housemates, FTX CTO Gary Wang, FTX [[w:Director of Engineering|DOE]] Nishad Singh, and Alameda CEO Caroline Ellison, with Wang, Singh, and SBF controling the code, the exchange's matching engine and funds. According to several current and former FTX and Alameda employees interviewed on the condition of anonymity, members of the team are in {{w|on again, off again relationship}}s, and FTX is "a place full of conflicts of interest, nepotism and lack of oversight". According to a person familiar with the matter: "The whole operation was run by a gang of kids in the Bahamas".<ref name="ICPSqu"/><ref>{{cite web |last1=Wang |first1=Tracy |title=Bankman-Fried’s Cabal of Roommates in the Bahamas Ran His Crypto Empire – and Dated. Other Employees Have Lots of Questions |url=https://www.coindesk.com/business/2022/11/10/bankman-frieds-cabal-of-roommates-in-the-bahamas-ran-his-crypto-empire-and-dated-other-employees-have-lots-of-questions/ |website=www.coindesk.com |access-date=14 November 2022 |language=en |date=10 November 2022}}</ref>  
 
|-
 
|-
 
| November 10 || 10:23 p.m. || {{w|Holden Karnofsky}} || Blog post || Impact on {{w|effective altruism}} || {{w|Holden Karnofsky}} publishes the first public announcement by {{w|Open Philanthropy}} (the other major funder of the EA ecosystem) regarding the FTX crisis. Karnofsky clarifies that funds directed by Open Philanthropy are not invested in or otherwise exposed to FTX or related entities. He also states that if the FTX Foundation stops funding longtermist and effective altruist projects, then Open Philanthropy would have to consider a substantially larger set of funding opportunities, raising their bar for longtermist grantmaking. On November 13, Karnofsky would edit the post, adding that it’s very likely that FTX engaged in outrageous, unacceptable fraud, and expressing fury at the behavior of FTX leadership.<ref>{{cite web |last1=Karnofsky |first1=Holden |title=Some comments on recent FTX-related events |url=https://forum.effectivealtruism.org/posts/mCCutDxCavtnhxhBR/some-comments-on-recent-ftx-related-events |website=forum.effectivealtruism.org |access-date=18 November 2022 |language=en}}</ref>  
 
| November 10 || 10:23 p.m. || {{w|Holden Karnofsky}} || Blog post || Impact on {{w|effective altruism}} || {{w|Holden Karnofsky}} publishes the first public announcement by {{w|Open Philanthropy}} (the other major funder of the EA ecosystem) regarding the FTX crisis. Karnofsky clarifies that funds directed by Open Philanthropy are not invested in or otherwise exposed to FTX or related entities. He also states that if the FTX Foundation stops funding longtermist and effective altruist projects, then Open Philanthropy would have to consider a substantially larger set of funding opportunities, raising their bar for longtermist grantmaking. On November 13, Karnofsky would edit the post, adding that it’s very likely that FTX engaged in outrageous, unacceptable fraud, and expressing fury at the behavior of FTX leadership.<ref>{{cite web |last1=Karnofsky |first1=Holden |title=Some comments on recent FTX-related events |url=https://forum.effectivealtruism.org/posts/mCCutDxCavtnhxhBR/some-comments-on-recent-ftx-related-events |website=forum.effectivealtruism.org |access-date=18 November 2022 |language=en}}</ref>  
 +
|-
 +
| November 10 || 11:31 p.m. || Evan Hubinger || Effective Altruism Forum post || Impact on {{w|effective altruism}} || A post by Evan Hubinger on the Effective Altruism Forum discusses engaging in fraudulent activities for the sake of effective altruism. The post concludes that, if FTX did engage in fraud, the lasting consequences to effective altruism —and the damage caused by FTX to all of their customers and employees—will likely outweigh the altruistic funding already provided by FTX to effective causes.<ref>{{cite web |title=We must be very clear: fraud in the service of effective altruism is unacceptable |url=https://forum.effectivealtruism.org/posts/XHrHsrQGyr4NnqCA7/we-must-be-very-clear-fraud-in-the-service-of-effective |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
|-
 
|-
 
| November 10 || 10:39 p.m. || Genesis || Tweet || Industry peer reaction || Cryptocurrency brokerage Genesis tweets: {{quote|As part of our goal in providing transparency around this week’s market events, the Genesis derivatives business currently has ~$175M in locked funds in our FTX trading account. This does not impact our market-making activities.<ref>{{cite web|author=Genesis |title=Genesis derivatives business currently has ~$175M in locked funds in our FTX trading account |url=https://twitter.com/genesistrading/status/1590836594382032896 |website=Twitter |access-date=14 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116140139/https://twitter.com/genesistrading/status/1590836594382032896|archive-date=November 16, 2022}}</ref>}}
 
| November 10 || 10:39 p.m. || Genesis || Tweet || Industry peer reaction || Cryptocurrency brokerage Genesis tweets: {{quote|As part of our goal in providing transparency around this week’s market events, the Genesis derivatives business currently has ~$175M in locked funds in our FTX trading account. This does not impact our market-making activities.<ref>{{cite web|author=Genesis |title=Genesis derivatives business currently has ~$175M in locked funds in our FTX trading account |url=https://twitter.com/genesistrading/status/1590836594382032896 |website=Twitter |access-date=14 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116140139/https://twitter.com/genesistrading/status/1590836594382032896|archive-date=November 16, 2022}}</ref>}}
 
|-
 
|-
| November 10 || 7:08 p.m. || FTX || Tweet || Customer withdrawal || FTX communicates thorugh Twitter: {{quote|Per our Bahamian HQ's regulation and regulators, we have begun to facilitate withdrawals of Bahamian funds. As such, you may have seen some withdrawals processed by FTX recently as we complied with the regulators.<ref>{{cite web|author=FTX |title=we have begun to facilitate withdrawals of Bahamian funds |url=https://twitter.com/FTX_Official/status/1590783569471115264 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115030621/https://twitter.com/FTX_Official/status/1590783569471115264|archive-date=November 15, 2022}}</ref>}}
+
| November 10 || ? || Lucinda Shen || Article || Rescue attempt || Lucinda Shen at American news website [[w:Axios (website)|Axios]] reports that FTX approached [[w:Kraken (company)|Kraken]] for a potential rescue deal. The small size of Kraken shows just how thin FTX's options are getting at this time.<ref>{{cite web |last1=Shen |first1=Lucinda |title=FTX approaches Kraken amid scramble to find funding |url=https://www.axios.com/pro/fintech-deals/2022/11/10/ftx-approaches-kraken-as-potential-rescue-deal-partner |website=Axios |access-date=29 November 2022 |language=en |date=10 November 2022}}</ref>
 +
|-
 +
| November 11 || 1:04 a.m. || FTX Future Fund || Effective Altruism Forum post || Team (resignation) || A post by FTX Future Fund members on the Effective Altruism Forum announces resignation of the entire FTX Future Fund team.<ref name=FFresigns>{{cite web |title=The FTX Future Fund team has resigned |url=https://forum.effectivealtruism.org/posts/xafpj3on76uRDoBja/the-ftx-future-fund-team-has-resigned-1 |website=forum.effectivealtruism.org |access-date=17 November 2022 |language=en}}</ref> The group expresses their devastation as there are many pledged grants that the Future Fund would not be able to honor in its letter.<ref>{{cite web |title=COINCU on Binance Feed: The Team Behind FTX Future Fund Has Resigned |url=https://www.binance.com/en/feed/post/53407 |website=Binance Feed |access-date=17 November 2022 |language=en}}</ref>
 +
|-
 +
| November 11 || 8:03 a.m. || Venus Feng, Tom Maloney || Article || SBF net worth || Venus Feng and Tom Maloney at {{w|Bloomberg News}} publish an article on SBF assets, estimating his net worth at $16 billion prior to the collapse, which is reported as having been wiped out.<ref>{{cite web |title=Bankman-Fried’s Assets Plummet From $16 Billion to Zero in Days |url=https://www.bloomberg.com/news/articles/2022-11-11/sam-bankman-fried-s-assets-go-from-16-billion-to-zero-after-ftx-collapse?leadSource=uverify+wall |website=Bloomberg.com |access-date=29 November 2022 |language=en |date=11 November 2022}}</ref>
 
|-
 
|-
| November 11 || 1:04 a.m. || FTX Future Fund || Effective Altruism Forum post || Resignation || A post by FTX Future Fund members on the Effective Altruism Forum announces resignation of the entire FTX Future Fund team.<ref name=FFresigns>{{cite web |title=The FTX Future Fund team has resigned |url=https://forum.effectivealtruism.org/posts/xafpj3on76uRDoBja/the-ftx-future-fund-team-has-resigned-1 |website=forum.effectivealtruism.org |access-date=17 November 2022 |language=en}}</ref> The group expresses their devastation as there are many pledged grants that the Future Fund would not be able to honor in its letter.<ref>{{cite web |title=COINCU on Binance Feed: The Team Behind FTX Future Fund Has Resigned |url=https://www.binance.com/en/feed/post/53407 |website=Binance Feed |access-date=17 November 2022 |language=en}}</ref>
+
| November 11 || 9:30 a.m. || {{w|Sam Bankman-Fried}} || || Bancruptcy || SBF resigns and authorizes John J. Ray III to commence {{w|Chapter 11, Title 11, United States Code}} cases.<ref>{{cite web |title=IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE |url=https://d1e00ek4ebabms.cloudfront.net/production/uploaded-files/Day%201%20Hearing%20Exhibits-f456313e-1554-4503-a0ad-ccecf8e38603.pdf |website=d1e00ek4ebabms.cloudfront.net |access-date=1 December 2022}}</ref>
 
|-
 
|-
 
| November 11 || ? || || || Partnership termination || {{w|Miami-Dade County}} and professional basketball team {{w|Miami Heat}} cut ties with now bankrupt {{w|FTX}}, and announce renaming the {{w|FTX Arena}}, as naming rights deal come to an end.<ref>{{cite web |title=Heat to cut ties with bankrupt FTX, rename arena |url=https://www.espn.com/nba/story/_/id/35004915/miami-heat-cut-ties-bankrupt-ftx-rename-home-arena |website=ESPN.com |access-date=23 November 2022 |language=en |date=12 November 2022}}</ref>  
 
| November 11 || ? || || || Partnership termination || {{w|Miami-Dade County}} and professional basketball team {{w|Miami Heat}} cut ties with now bankrupt {{w|FTX}}, and announce renaming the {{w|FTX Arena}}, as naming rights deal come to an end.<ref>{{cite web |title=Heat to cut ties with bankrupt FTX, rename arena |url=https://www.espn.com/nba/story/_/id/35004915/miami-heat-cut-ties-bankrupt-ftx-rename-home-arena |website=ESPN.com |access-date=23 November 2022 |language=en |date=12 November 2022}}</ref>  
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| November 11 || ? || {{w|Changpeng Zhao}} || Interview || FTX collapse || {{w|Changpeng Zhao}} gives his first interview after the collapse of FTX at Indonesia Fintech Summit 2022.<ref name="CZ First Interview After the Collapse of FTX">{{cite web |title=CZ First Interview After the Collapse of FTX at Indonesia Fintech Summit 2022 |url=https://www.youtube.com/watch?v=xKRvgj0G7Nk |website=youtube.com |access-date=24 November 2022 |language=en}}</ref>  
 
| November 11 || ? || {{w|Changpeng Zhao}} || Interview || FTX collapse || {{w|Changpeng Zhao}} gives his first interview after the collapse of FTX at Indonesia Fintech Summit 2022.<ref name="CZ First Interview After the Collapse of FTX">{{cite web |title=CZ First Interview After the Collapse of FTX at Indonesia Fintech Summit 2022 |url=https://www.youtube.com/watch?v=xKRvgj0G7Nk |website=youtube.com |access-date=24 November 2022 |language=en}}</ref>  
 
|-
 
|-
| November 11 || 2:14 p.m. || FTX || Tweet || Bankruptcy || Official FTX bankruptcy filing is published on Twitter.<ref>{{cite web|author=FTX |title=Press Release |url=https://twitter.com/FTX_Official/status/1591071832823959552 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116070634/https://twitter.com/FTX_Official/status/1591071832823959552|archive-date=November 16, 2022}}</ref> At 3:23 p.m. SBF in his account tweets having filed FTX, FTX US, and Alameda Research for voluntary [[w:Chapter 11, Title 11, United States Code|Chapter 11]] proceedings in the United States.<ref name="twitter.com/sbf_ftx">{{cite web |title=SBF |author={{w|Sam Bankman-Fried}}|title=Hi all: Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US|url=https://twitter.com/SBF_FTX/status/1591089317300293636 |website=Twitter |access-date=12 November 2022 |language=en}}</ref> ([https://s.wsj.net/public/resources/documents/alameda-filing-11112022.pdf See Alameda filing showing the corporate structure] and [https://i.imgur.com/sUb2efI.png pictorial representations of the dependencies]). It is announced that SBF will step down as CEO and be replaced by John J. Ray III.<ref name="ICPSqu"/> Just before the bankruptcy, the ''{{w|Financial Times}}'' reported that the exchange’s primary balance sheet showed only $900 million in liquid, easy-to-sell assets against $9 billion in liabilities.<ref>{{cite web |title=FTX balance sheet, revealed |url=https://www.ft.com/content/0c2a55b6-d34c-4685-8a8d-3c9628f1f185 |website=Financial Times |access-date=16 November 2022 |date=12 November 2022}}</ref><ref>{{cite web |title=Sam Bankman-Fried’s $32bn FTX crypto empire files for bankruptcy |url=https://www.ft.com/content/afe56c4e-2d68-457e-bbb2-476752d5f02e |website=Financial Times |access-date=16 November 2022 |date=11 November 2022}}</ref>       
+
| November 11 || 2:14 p.m. || FTX || Tweet || Bankruptcy || Official FTX bankruptcy filing is published on Twitter.<ref>{{cite web|author=FTX |title=Press Release |url=https://twitter.com/FTX_Official/status/1591071832823959552 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116070634/https://twitter.com/FTX_Official/status/1591071832823959552|archive-date=November 16, 2022}}</ref> At 3:23 p.m. SBF in his account tweets having filed FTX, FTX US, and Alameda Research for voluntary [[w:Chapter 11, Title 11, United States Code|Chapter 11]] proceedings in the United States.<ref name="twitter.com/sbf_ftx">{{cite web |title=SBF |author={{w|Sam Bankman-Fried}}|title=Hi all: Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US|url=https://twitter.com/SBF_FTX/status/1591089317300293636 |website=Twitter |access-date=12 November 2022 |language=en}}</ref> ([https://s.wsj.net/public/resources/documents/alameda-filing-11112022.pdf See Alameda filing showing the corporate structure] and [https://i.imgur.com/sUb2efI.png pictorial representations of the dependencies]). It is announced that SBF will step down as CEO and be replaced by John J. Ray III.<ref name="ICPSqu"/> Just before the bankruptcy, the ''{{w|Financial Times}}'' reported that the exchange’s primary balance sheet showed only $900 million in liquid, easy-to-sell assets against $9 billion in liabilities.<ref>{{cite web |title=FTX balance sheet, revealed |url=https://www.ft.com/content/0c2a55b6-d34c-4685-8a8d-3c9628f1f185 |website=Financial Times |access-date=16 November 2022 |date=12 November 2022}}</ref><ref>{{cite web |title=Sam Bankman-Fried’s $32bn FTX crypto empire files for bankruptcy |url=https://www.ft.com/content/afe56c4e-2d68-457e-bbb2-476752d5f02e |website=Financial Times |access-date=16 November 2022 |date=11 November 2022}}</ref> In addition, over 100 FTX-affiliated business entities declare bankruptcy.      
 
|-
 
|-
 
| November 11 || 3:59 p.m. || {{w|Changpeng Zhao}} || Tweet || Industry peer reaction || {{w|Changpeng Zhao}} tweets:  
 
| November 11 || 3:59 p.m. || {{w|Changpeng Zhao}} || Tweet || Industry peer reaction || {{w|Changpeng Zhao}} tweets:  
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* involves loans<ref>{{cite web |author={{w|Changpeng Zhao}}|title=FTX aside, avoid businesses/exchanges/projects that |url=https://twitter.com/cz_binance/status/1591098313591652352 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221113022446/https://twitter.com/cz_binance/status/1591098313591652352|archive-date=November 13, 2022}}</ref>}}
 
* involves loans<ref>{{cite web |author={{w|Changpeng Zhao}}|title=FTX aside, avoid businesses/exchanges/projects that |url=https://twitter.com/cz_binance/status/1591098313591652352 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221113022446/https://twitter.com/cz_binance/status/1591098313591652352|archive-date=November 13, 2022}}</ref>}}
 
|-
 
|-
| November 11 || 4:05 p.m. || Robert Wiblin || Tweet, blog post || Grantmaking || {{w|80,000}} Hours Directir of Research Robert Wiblin publishes a 17-tweet thread expressing his indignation over the FTX Future Fund team resignation. He comments in one of his tweets: {{quote|I've been waiting for the Future Fund people to have their say, and they have all resigned.<ref name=FFresigns/>
+
| November 11 || 4:05 p.m. || Robert Wiblin || Tweet, blog post || Grantmaking || {{w|80,000}} Hours Director of Research Robert Wiblin publishes a 17-tweet thread expressing his indignation over the FTX Future Fund team resignation. He comments in one of his tweets: {{quote|I've been waiting for the Future Fund people to have their say, and they have all resigned.<ref name=FFresigns/>
  
 
So now you can hear what I think.
 
So now you can hear what I think.
  
I am fucking appalled.<ref name=wiblintweet>{{cite web |title=I've been waiting for the Future Fund people to have their say, and they have all resigned |url=https://twitter.com/robertwiblin/status/1591099877546635269 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115082222/https://twitter.com/robertwiblin/status/1591099877546635269|archive-date=November 15, 2022}}</ref>}}
+
I am fucking appalled.<ref name=wiblintweet>{{cite web|author=Robert Wiblin|title=I've been waiting for the Future Fund people to have their say, and they have all resigned |url=https://twitter.com/robertwiblin/status/1591099877546635269 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115082222/https://twitter.com/robertwiblin/status/1591099877546635269|archive-date=November 15, 2022}}</ref>}}
  
 
Another tweet reads: {{quote|No plausible ethics permits one to lose money trading then take other people's money to make yet more risky bets in the hope that doing so will help you make it back.<ref name=wiblintweet/>}}
 
Another tweet reads: {{quote|No plausible ethics permits one to lose money trading then take other people's money to make yet more risky bets in the hope that doing so will help you make it back.<ref name=wiblintweet/>}}
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| November 11 || 4:52 p.m. || Sawyer Bernath || Effective Altruism Forum post || Grantmaking || Berkeley Existential Risk Initiative Executive Director Sawyer Bernath publishes the first Effective Altruism Forum post discussing the possibility of clawbacks, in which case FTX grantees could be legally obligated to return funds.<ref>{{cite web |title=Under what conditions should FTX grantees voluntarily return their grants? |url=https://forum.effectivealtruism.org/posts/CcNaQmrtdeC9PPixK/under-what-conditions-should-ftx-grantees-voluntarily-return |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
| November 11 || 4:52 p.m. || Sawyer Bernath || Effective Altruism Forum post || Grantmaking || Berkeley Existential Risk Initiative Executive Director Sawyer Bernath publishes the first Effective Altruism Forum post discussing the possibility of clawbacks, in which case FTX grantees could be legally obligated to return funds.<ref>{{cite web |title=Under what conditions should FTX grantees voluntarily return their grants? |url=https://forum.effectivealtruism.org/posts/CcNaQmrtdeC9PPixK/under-what-conditions-should-ftx-grantees-voluntarily-return |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
|-
 
|-
| November 11 || 5:47 p.m. || SaraAzubuike || Effective Altruism Forum post || Philanthropy || An Effective Altruism Forum post is published with explicit suggestions to the EA community for changing funding given the already infamous FTX Foundation case. Suggestions include considering anonymous posts, and partially anonymized finances. The author writes: {{quote|If an EA org receives some money above a certain threshold from an individual contribution, we should be transparent in saying that we will reject said money if it is not donated anonymously.<ref>{{cite web |title=Another FTX post: suggestions for change |url=https://forum.effectivealtruism.org/posts/9YodZj6J6iv3xua4f/another-ftx-post-suggestions-for-change |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>}}
+
| November 11 || 5:47 p.m. || SaraAzubuike || Effective Altruism Forum post || Impact on {{w|effective altruism}} || An Effective Altruism Forum post is published with explicit suggestions to the EA community for changing funding given the already infamous FTX Foundation case. Suggestions include considering anonymous posts, and partially anonymized finances. The author writes: {{quote|If an EA org receives some money above a certain threshold from an individual contribution, we should be transparent in saying that we will reject said money if it is not donated anonymously.<ref>{{cite web |title=Another FTX post: suggestions for change |url=https://forum.effectivealtruism.org/posts/9YodZj6J6iv3xua4f/another-ftx-post-suggestions-for-change |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>}}
 +
|-
 +
| November 11 || 8:12 p.m. || Doug Colkitt || Tweet || FTX collapse || [[w:DEX (protocol)|DEX protocol]] CrocSwap founder Doug Colkitt publishes a 23-tweet thread, explaining his version of what happened to FTX. Among the tweets, Colkitt comments that Alameda was a prop firm with mediocre traders, a "big fish in a little pond", that at one point or another lost more than it could internally fund, and had to dip into FTX reserves. He also comments that FTX was a ponzi targeting trading firms.<ref>{{cite web |title=Very rough and speculative sketch of what I increasingly think happened at FTX |url=https://twitter.com/0xdoug/status/1591161987547168768 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116045509/https://twitter.com/0xdoug/status/1591161987547168768|archive-date=November 16, 2022}}</ref>
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|-
 +
| November 11 || 8.35 p.m. || Celsius || Tweet || Impact on users || Bankrupt crypto lender Celsius Network tweets: {{quote|In the interest of transparency, Celsius has approximately 3.5mm SRM tokens on FTX, most of which are locked, as well as loans to Alameda totaling approximately $13MM (based on current values) which are currently under-collateralized (primarily by FTT tokens).<ref>{{cite web|author=Celsius |title=Celsius has approximately 3.5mm SRM tokens on FTX |url=https://twitter.com/CelsiusNetwork/status/1591167874177138689?cxt=HHwWgoC85Ymw-5QsAAAA |website=Twitter |access-date=3 December 2022 |language=en|archive-url=https://web.archive.org/web/20221203025723/https://twitter.com/CelsiusNetwork/status/1591167874177138689?cxt=HHwWgoC85Ymw-5QsAAAA|archive-date=December 2, 2022}}</ref>}}
 +
|-
 +
| November 11 || 9:41 p.m || {{w|Vitalik Buterin}} || Tweet || Industry peer reaction || {{w|Vitalik Buterin}} tweets: {{quote|[[w:Mt. Gox|MtGox]] "looked" sketchy and never tried too hard to whitewash itself. [[w:Terra (blockchain)|Luna]] too. FTX was the opposite and did full-on compliance virtue signaling (not the same thing as compliance)
 +
 
 +
The second kind of fraud cuts deeper than the first.<ref>{{cite web|author=Vitalik Buterin |title=MtGox "looked" sketchy and never tried too hard to whitewash itself |url=https://twitter.com/vitalikbuterin/status/1591184394987139072 |website=Twitter |access-date=30 November 2022 |language=en|archive-url=https://web.archive.org/web/20221112124604/https://twitter.com/vitalikbuterin/status/1591184394987139072|archive-date=November 12, 2022}}</ref>}}
 
|-
 
|-
 
| November 11 || 11:43 p.m. || {{w|Eliezer Yudkowsky}} || Tweet || Grantmaking || {{w|Eliezer Yudkowsky}} publishes a Twitter thread discussing FTX's charity recipients. The first tweet reads: {{quote|Your incredibly obvious reminder that MANY people besides FTX's charity recipients had HIGH personal stakes in guessing whether FTX was stealing customer deposits; and the supermajority of those people, who were much deeper into cryptostuff, did not publicly guess this right.<ref>{{cite web|author={{w|Eliezer Yudkowsky}} |title=Your incredibly obvious reminder that MANY people besides FTX's charity recipients had HIGH personal stakes in guessing whether FTX was stealing customer deposits |url=https://twitter.com/ESYudkowsky/status/1591215030351323136 |website=Twitter |access-date=19 November 2022 |language=en|archive-url=https://web.archive.org/web/20221118214258/https://twitter.com/ESYudkowsky/status/1591215030351323136|archive-date=November 18, 2022}}</ref>}}
 
| November 11 || 11:43 p.m. || {{w|Eliezer Yudkowsky}} || Tweet || Grantmaking || {{w|Eliezer Yudkowsky}} publishes a Twitter thread discussing FTX's charity recipients. The first tweet reads: {{quote|Your incredibly obvious reminder that MANY people besides FTX's charity recipients had HIGH personal stakes in guessing whether FTX was stealing customer deposits; and the supermajority of those people, who were much deeper into cryptostuff, did not publicly guess this right.<ref>{{cite web|author={{w|Eliezer Yudkowsky}} |title=Your incredibly obvious reminder that MANY people besides FTX's charity recipients had HIGH personal stakes in guessing whether FTX was stealing customer deposits |url=https://twitter.com/ESYudkowsky/status/1591215030351323136 |website=Twitter |access-date=19 November 2022 |language=en|archive-url=https://web.archive.org/web/20221118214258/https://twitter.com/ESYudkowsky/status/1591215030351323136|archive-date=November 18, 2022}}</ref>}}
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| November 11 || 11:55 p.m. || {{w|William MacAskill}} || Tweet || Bankruptcy || Scottish philosopher and ethicist {{w|William MacAskill}} posts a tweet thread discussing FTX’s bankruptcy, and expressing the enormous harm that was caused as a result, involving the likely loss of many thousands of innocent people's savings.<ref>{{cite web|author={{w|William MacAskill}}|title=This is a thread of my thoughts and feelings about the actions that led to FTX’s bankruptcy |url=https://twitter.com/willmacaskill/status/1591218014707671040 |website=Twitter |access-date=14 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115123220/https://twitter.com/willmacaskill/status/1591218014707671040|archive-date=November 15, 2022}}</ref>
 
| November 11 || 11:55 p.m. || {{w|William MacAskill}} || Tweet || Bankruptcy || Scottish philosopher and ethicist {{w|William MacAskill}} posts a tweet thread discussing FTX’s bankruptcy, and expressing the enormous harm that was caused as a result, involving the likely loss of many thousands of innocent people's savings.<ref>{{cite web|author={{w|William MacAskill}}|title=This is a thread of my thoughts and feelings about the actions that led to FTX’s bankruptcy |url=https://twitter.com/willmacaskill/status/1591218014707671040 |website=Twitter |access-date=14 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115123220/https://twitter.com/willmacaskill/status/1591218014707671040|archive-date=November 15, 2022}}</ref>
 
|-
 
|-
| November 11 || 12:15 p.m. || [[w:Brian Armstrong (businessman)|Brian Armstrong]] || Article || Industry peer reaction || Coinbase's CEO, [[w:Brian Armstrong (businessman)|Brian Armstrong]] publishes an {{w|op-ed}} calling for renewed attention to implementing reasonable regulations and checks and balances to prevent future FTX sized disasters.<ref>{{cite web |last1=CEO |first1=Brian Armstrong, Coinbase |title=Op-ed: Crypto markets need regulation to avoid more washouts like FTX, says Coinbase CEO Brian Armstrong |url=https://www.cnbc.com/2022/11/11/op-ed-crypto-markets-need-regulation-to-avoid-ftx-type-situations.html |website=CNBC |access-date=14 November 2022 |language=en}}</ref><ref name="ICPSqu">{{cite web |title=ICPSquad Weekly: FTX Aftermath and Crypto Winter |url=https://www.dfinitycommunity.com/icpsquad-weekly-12/amp/ |website=Dfinity Community ∞ |access-date=14 November 2022 |date=13 November 2022}}</ref>
+
| November 11 || Late || || || Unauthorized transaction || Some $473 million in funds are removed from FTX through what Ryne Miller, FTX US's general counsel, characterizes as "unauthorized transactions".<ref>{{cite web |title=Bankrupt Crypto Exchange FTX Probing Unauthorized Transactions |url=https://www.wsj.com/articles/ftx-is-investigating-a-potential-hack-amid-bankruptcy-filing-11668261070 |website=wsj.com |access-date=29 November 2022}}</ref>
 
|-
 
|-
| November 11 || 12:22 p.m. || {{w|Elon Musk}} || Tweet || Twitter-FTX partnership || South African business magnate and {{w|Twitter}} CEO {{w|Elon Musk}} tweets: {{quote|Accurate. He set off my bs detector, which is why I did not think he had $3B.<ref>{{cite web|author={{w|Elon Musk}} |title=Accurate. He set off my bs detector, which is why I did not think he had $3B |url=https://twitter.com/elonmusk/status/1591224814597189633 |website=Twitter |access-date=14 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115152250/https://twitter.com/elonmusk/status/1591224814597189633|archive-date=November 15, 2022}}</ref>}} The comment refers to an instance in March in which SBF offered "at least $3 billion" to help Musk buy Twitter, and proposing a deal to integrate Twitter with blockchain technology.<ref>{{cite web |title=Elon Musk says SBF of FTX set off his BS detector |url=https://unusualwhales.com/news/elon-musk-says-sbf-of-ftx-set-off-his-bs-detector |website=Unusual Whales - News |access-date=14 November 2022 |date=12 November 2022}}</ref><ref name="ICPSqu"/> Upon meeting Bankman-Fried, Musk reports having immediately sensed “something wrong.” {{quote|He does not have capital, and he will not come through. That was my prediction. And that was definitely what happened.<ref>{{cite web |title=Elon Musk Says FTX CEO Set Off His “Bs Detector” With Twitter Deal By CoinEdition |url=https://www.investing.com/news/cryptocurrency-news/elon-musk-says-ftx-ceo-set-off-his-bs-detector-with-twitter-deal-2942250 |website=Investing.com |access-date=18 November 2022 |language=en-us}}</ref>}} The role of {{w|William MacAskill}} in the negotiation would be discussed after the FTX collapse, as MacAskill was a liaison between SBF and Musk.<ref>{{cite web |title=Will MacAskill's role in connecting SBF to Elon Musk for a potential Twitter deal |url=https://forum.effectivealtruism.org/posts/dk9HTJKNAAwaEZTgk/will-macaskill-s-role-in-connecting-sbf-to-elon-musk-for-a |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
+
| November 12 || 0:15 a.m. || [[w:Brian Armstrong (businessman)|Brian Armstrong]] || Article || Industry peer reaction || Coinbase's CEO, [[w:Brian Armstrong (businessman)|Brian Armstrong]] publishes an {{w|op-ed}} calling for renewed attention to implementing reasonable regulations and checks and balances to prevent future FTX sized disasters.<ref>{{cite web |last1=CEO |first1=Brian Armstrong, Coinbase |title=Op-ed: Crypto markets need regulation to avoid more washouts like FTX, says Coinbase CEO Brian Armstrong |url=https://www.cnbc.com/2022/11/11/op-ed-crypto-markets-need-regulation-to-avoid-ftx-type-situations.html |website=CNBC |access-date=14 November 2022 |language=en}}</ref><ref name="ICPSqu">{{cite web |title=ICPSquad Weekly: FTX Aftermath and Crypto Winter |url=https://www.dfinitycommunity.com/icpsquad-weekly-12/amp/ |website=Dfinity Community ∞ |access-date=14 November 2022 |date=13 November 2022}}</ref>
 
|-
 
|-
| November 11 || 20:12 || Doug Colkitt || Tweet || FTX collapse || [[w:DEX (protocol)|DEX protocol]] CrocSwap founder Doug Colkitt publishes a 23-tweet thread, explaining his version of what happened to FTX. Among the tweets, Colkitt comments that Alameda was a prop firm with mediocre traders, a "big fish in a little pond", that at one point or another lost more than it could internally fund, and had to dip into FTX reserves. He also comments that FTX was a ponzi targeting trading firms.<ref>{{cite web |title=Very rough and speculative sketch of what I increasingly think happened at FTX |url=https://twitter.com/0xdoug/status/1591161987547168768 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116045509/https://twitter.com/0xdoug/status/1591161987547168768|archive-date=November 16, 2022}}</ref>
+
| November 12 || 0:22 a.m. || {{w|Elon Musk}} || Tweet || Partnership proposal || South African business magnate and {{w|Twitter}} CEO {{w|Elon Musk}} tweets: {{quote|Accurate. He set off my bs detector, which is why I did not think he had $3B.<ref>{{cite web|author={{w|Elon Musk}} |title=Accurate. He set off my bs detector, which is why I did not think he had $3B |url=https://twitter.com/elonmusk/status/1591224814597189633 |website=Twitter |access-date=14 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115152250/https://twitter.com/elonmusk/status/1591224814597189633|archive-date=November 15, 2022}}</ref>}} The comment refers to an instance in March in which SBF offered "at least $3 billion" to help Musk buy Twitter, and proposing a deal to integrate Twitter with blockchain technology.<ref>{{cite web |title=Elon Musk says SBF of FTX set off his BS detector |url=https://unusualwhales.com/news/elon-musk-says-sbf-of-ftx-set-off-his-bs-detector |website=Unusual Whales - News |access-date=14 November 2022 |date=12 November 2022}}</ref><ref name="ICPSqu"/> Upon meeting Bankman-Fried, Musk reports having immediately sensed “something wrong.” {{quote|He does not have capital, and he will not come through. That was my prediction. And that was definitely what happened.<ref>{{cite web |title=Elon Musk Says FTX CEO Set Off His “Bs Detector” With Twitter Deal By CoinEdition |url=https://www.investing.com/news/cryptocurrency-news/elon-musk-says-ftx-ceo-set-off-his-bs-detector-with-twitter-deal-2942250 |website=Investing.com |access-date=18 November 2022 |language=en-us}}</ref>}} The role of {{w|William MacAskill}} in the negotiation would be discussed after the FTX collapse, as MacAskill was a liaison between SBF and Musk.<ref>{{cite web |title=Will MacAskill's role in connecting SBF to Elon Musk for a potential Twitter deal |url=https://forum.effectivealtruism.org/posts/dk9HTJKNAAwaEZTgk/will-macaskill-s-role-in-connecting-sbf-to-elon-musk-for-a |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
|-
 
|-
| Novemver 12 || 3:51 a.m. || {{w|Eliezer Yudkowsky}} || Effective Altruism Forum post || Grantmaking || {{w|Eliezer Yudkowsky}} publishes an Effective Altruism Forum post proclaiming against clawbacks from FTX Foundation grantees, as some of them feel obligated to return their grants. Yudkowsky provides some moral arguments and analogies to sustain his position.<ref>{{cite web |title=IMPCO, don't injure yourself by returning FTXFF money for services you already provided |url=https://forum.effectivealtruism.org/posts/FKJ8yiF3KjFhAuivt/impco-don-t-injure-yourself-by-returning-ftxff-money-for |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
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| November 12 || 3:51 a.m. || {{w|Eliezer Yudkowsky}} || Effective Altruism Forum post || Grantmaking || {{w|Eliezer Yudkowsky}} publishes an Effective Altruism Forum post proclaiming against clawbacks from FTX Foundation grantees, as some of them feel obligated to return their grants. Yudkowsky provides some moral arguments and analogies to sustain his position.<ref>{{cite web |title=IMPCO, don't injure yourself by returning FTXFF money for services you already provided |url=https://forum.effectivealtruism.org/posts/FKJ8yiF3KjFhAuivt/impco-don-t-injure-yourself-by-returning-ftxff-money-for |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
|-
 
|-
| November 12 || 5:14 a.m. || {{w|Elon Musk}} || Tweet || Notable people reaction || {{w|Elon Musk}} tweets: {{quote|FTX meltdown/ransack being tracked in real-time on Twitter.<ref>{{cite web|author={{w|Elon Musk}} |title=FTX meltdown/ransack being tracked in real-time on Twitter |url=https://twitter.com/elonmusk/status/1591313397362352130 |website=Twitter |access-date=14 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116142625/https://twitter.com/elonmusk/status/1591313397362352130|archive-date=October 16, 2022}}</ref>}}
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| November 12 || 5:14 a.m. || {{w|Elon Musk}} || Tweet || Notable comment || {{w|Elon Musk}} tweets: {{quote|FTX meltdown/ransack being tracked in real-time on Twitter.<ref>{{cite web|author={{w|Elon Musk}} |title=FTX meltdown/ransack being tracked in real-time on Twitter |url=https://twitter.com/elonmusk/status/1591313397362352130 |website=Twitter |access-date=14 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116142625/https://twitter.com/elonmusk/status/1591313397362352130|archive-date=October 16, 2022}}</ref>}}
 
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| November 12 || 6:31 a.m. || Tether Limited || Tweet || Security || Blockchain investigator ZachXBT tweets: {{quote|Breaking: $3.9m USDT on AVAX and $27.5m USDT on SOL of the FTX attacker’s has been blacklisted by Tether.<ref>{{cite web|author=ZachXBT|title=$3.9m USDT on AVAX and $27.5m USDT on SOL of the FTX attacker’s has been blacklisted by Tether |url=https://twitter.com/zachxbt/status/1591317701233807360 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116212815/https://twitter.com/zachxbt/status/1591317701233807360|archive-date=November 16, 2022}}</ref>}} By blacklisting the alleged stolen USDT token, hackers are disabled to transfer the assets to another account or exchanging them for other cryptocurrencies.<ref name="Tether bla">{{cite web |title=Tether blacklists $31.4M USDT following FTX’s alleged hack, Musk reacts |url=https://cointelegraph.com/news/tether-blacklists-31-4m-usdt-following-ftx-s-alleged-hack-musk-reacts |website=Cointelegraph |access-date=15 November 2022 |language=en}}</ref><ref>{{cite web |title=The smart contract itself has a "blacklist" function[1], which presumably can be... {{!}} Hacker News |url=https://news.ycombinator.com/item?id=27540990 |website=news.ycombinator.com |access-date=15 November 2022}}</ref>
 
| November 12 || 6:31 a.m. || Tether Limited || Tweet || Security || Blockchain investigator ZachXBT tweets: {{quote|Breaking: $3.9m USDT on AVAX and $27.5m USDT on SOL of the FTX attacker’s has been blacklisted by Tether.<ref>{{cite web|author=ZachXBT|title=$3.9m USDT on AVAX and $27.5m USDT on SOL of the FTX attacker’s has been blacklisted by Tether |url=https://twitter.com/zachxbt/status/1591317701233807360 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116212815/https://twitter.com/zachxbt/status/1591317701233807360|archive-date=November 16, 2022}}</ref>}} By blacklisting the alleged stolen USDT token, hackers are disabled to transfer the assets to another account or exchanging them for other cryptocurrencies.<ref name="Tether bla">{{cite web |title=Tether blacklists $31.4M USDT following FTX’s alleged hack, Musk reacts |url=https://cointelegraph.com/news/tether-blacklists-31-4m-usdt-following-ftx-s-alleged-hack-musk-reacts |website=Cointelegraph |access-date=15 November 2022 |language=en}}</ref><ref>{{cite web |title=The smart contract itself has a "blacklist" function[1], which presumably can be... {{!}} Hacker News |url=https://news.ycombinator.com/item?id=27540990 |website=news.ycombinator.com |access-date=15 November 2022}}</ref>
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| November 12 || 7:07 a.m. || Trung Phan || Article || FTX collapse || Trung Phan on his {{w|Substack}} publication SatPost posts a highly cited and respected summary of the FTX's collapse, organized along a list of key memes and tweets assembled to provide a full-ish picture.<ref name="Phan"/>
 
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|-
 
| November 12 || 7:07 a.m. || Ryne Miller || Tweet || Bankruptcy || FTX US General Counsel Ryne Miller tweets: {{quote|Following the Chapter 11 bankruptcy filings - FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage.  Process was expedited this evening - to mitigate damage upon observing unauthorized transactions.<ref>{{cite web |author=Ryne Miller|title=FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage |url=https://twitter.com/_Ryne_Miller/status/1591326796305530880 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115163753/https://twitter.com/_Ryne_Miller/status/1591326796305530880|archive-date=November 15, 2022}}</ref>}}
 
| November 12 || 7:07 a.m. || Ryne Miller || Tweet || Bankruptcy || FTX US General Counsel Ryne Miller tweets: {{quote|Following the Chapter 11 bankruptcy filings - FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage.  Process was expedited this evening - to mitigate damage upon observing unauthorized transactions.<ref>{{cite web |author=Ryne Miller|title=FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage |url=https://twitter.com/_Ryne_Miller/status/1591326796305530880 |website=Twitter |access-date=12 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115163753/https://twitter.com/_Ryne_Miller/status/1591326796305530880|archive-date=November 15, 2022}}</ref>}}
 
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| November 12 || 12:45 a.m. || Nathan Young || Effective Altruism Forum || Impact on {{w|effective altruism}} || Nathan Young publishes an open-ended question post asking how the effective altruist community can avoid a FTX-like situation, assuming that given the information available indicated an avoidable failure. The author asks for suggestions the EA community could have actually done with the information they had.<ref>{{cite web |last1=Young |first1=Nathan |title=How could we have avoided this? |url=https://forum.effectivealtruism.org/posts/4zjnFxGWYkEF4nqMi/how-could-we-have-avoided-this |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>  
+
| November 12 || 7:33 a.m. || Autism Capital || Tweet || {{w|Psychopharmacology}} || Autism Capital tweets the alpha on stimulants within the organization shared by a source inside FTX:  {{quote|Stimulants were highly advised to be used by new hires for a long time. Sam would literally give an orientation on stimulants and would describe which would do that. He told them to give them all a try and see what works best and what they felt most productive on. Sam used a patch for designer stimulants that mainlined them into his blood to give him a constant buzz all the time.<ref>{{cite web|author=Autism Capital|title=A source inside FTX shares the alpha on stimulants within the organization |url=https://twitter.com/autismcapital/status/1591333446995283969 |website=Twitter |access-date=1 December 2022 |language=en|archive-url=https://web.archive.org/web/20221116045456/https://twitter.com/autismcapital/status/1591333446995283969|archive-date=November 16, 2022}}</ref>}}
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| November 12 || 12:45 p.m. || Nathan Young || Effective Altruism Forum || Impact on {{w|effective altruism}} || Nathan Young publishes an open-ended question post asking how the effective altruist community can avoid a FTX-like situation, assuming that given the information available indicated an avoidable failure. The author asks for suggestions the EA community could have actually done with the information they had.<ref>{{cite web |last1=Young |first1=Nathan |title=How could we have avoided this? |url=https://forum.effectivealtruism.org/posts/4zjnFxGWYkEF4nqMi/how-could-we-have-avoided-this |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>  
 
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| November 12 || 2:22 p.m. || Tyrone-Jay Barugh || Effective Altruism Forum || Impact on {{w|effective altruism}} || Tyrone-Jay Barugh publishes a post on the Effective Altruism Forum suggesting an independent investigation on key EA orgs (like the Center for Effective Altruism/Effective Ventures, Open Philanthropy, and Rethink Priorities) to try to identify whether key figures in those organizations knew about the likely fraud at FTX.<ref>{{cite web |last1=Barugh |first1=Tyrone-Jay |title=CEA/EV + OP + RP should engage an independent investigator to determine whether key figures in EA knew about the (likely) fraud at FTX |url=https://forum.effectivealtruism.org/posts/HyHCkK3aDsfY95MoD/cea-ev-op-rp-should-engage-an-independent-investigator-to |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
| November 12 || 2:22 p.m. || Tyrone-Jay Barugh || Effective Altruism Forum || Impact on {{w|effective altruism}} || Tyrone-Jay Barugh publishes a post on the Effective Altruism Forum suggesting an independent investigation on key EA orgs (like the Center for Effective Altruism/Effective Ventures, Open Philanthropy, and Rethink Priorities) to try to identify whether key figures in those organizations knew about the likely fraud at FTX.<ref>{{cite web |last1=Barugh |first1=Tyrone-Jay |title=CEA/EV + OP + RP should engage an independent investigator to determine whether key figures in EA knew about the (likely) fraud at FTX |url=https://forum.effectivealtruism.org/posts/HyHCkK3aDsfY95MoD/cea-ev-op-rp-should-engage-an-independent-investigator-to |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
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| November 12 || 4:36 p.m. || {{w|Mark Cuban}} || Tweet || FTX collapse || American entrepreneur {{w|Mark Cuban}} tweets: {{quote|These blowups have not been crypto blowups, they have been banking blow-ups. Lending to the wrong entity, misvaluations of collateral,  arrogant arbs, followed by depositor runs. See [[w:Long-Term Capital Management|Long Term Capital]], Savings & Loan and Sub-Prime blowups. All different versions of the same story.<ref>{{cite web|author={{w|Mark Cuban}}|title=These blowups have not been crypto blowups, they have been banking blow-ups. |url=https://twitter.com/mcuban/status/1591470047499018241 |website=Twitter |access-date=13 November 2022 |language=en|archive-url=https://web.archive.org/web/20221112164635/https://twitter.com/mcuban/status/1591470047499018241|archive-date=November 12, 2022}}</ref>}}
 
| November 12 || 4:36 p.m. || {{w|Mark Cuban}} || Tweet || FTX collapse || American entrepreneur {{w|Mark Cuban}} tweets: {{quote|These blowups have not been crypto blowups, they have been banking blow-ups. Lending to the wrong entity, misvaluations of collateral,  arrogant arbs, followed by depositor runs. See [[w:Long-Term Capital Management|Long Term Capital]], Savings & Loan and Sub-Prime blowups. All different versions of the same story.<ref>{{cite web|author={{w|Mark Cuban}}|title=These blowups have not been crypto blowups, they have been banking blow-ups. |url=https://twitter.com/mcuban/status/1591470047499018241 |website=Twitter |access-date=13 November 2022 |language=en|archive-url=https://web.archive.org/web/20221112164635/https://twitter.com/mcuban/status/1591470047499018241|archive-date=November 12, 2022}}</ref>}}
 
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| November 12 || circa 5 p.m. || || Article || FTX {{w|balance sheet}} || An article at <code>ft.com</code> reports that FTX held less than $1 billion in liquid assets against $9 billion in liabilities the day before it collapsed into bankruptcy, according to investment materials seen by the ''{{w|Financial Times}}''.<ref>{{cite web |title=FTX held less than $1bn in liquid assets against $9bn in liabilities |url=https://www.ft.com/content/f05fe9f8-ca0a-48d5-8ef2-7a4d813af558 |website=Financial Times |access-date=12 November 2022 |date=12 November 2022}}</ref>
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| November 12 || circa 5 p.m. || || Article || Financial || An article at <code>ft.com</code> reports that FTX held less than $1 billion in liquid assets against $9 billion in liabilities the day before it collapsed into bankruptcy, according to investment materials seen by the ''{{w|Financial Times}}''.<ref>{{cite web |title=FTX held less than $1bn in liquid assets against $9bn in liabilities |url=https://www.ft.com/content/f05fe9f8-ca0a-48d5-8ef2-7a4d813af558 |website=Financial Times |access-date=12 November 2022 |date=12 November 2022}}</ref>
 
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| November 12 || 5:05 p.m. || Mike McGuiness || Tweet || Hacking || gm.xyz founder Mike McGuiness tweets: {{quote|PSA: if you have a bank account linked to FTX US, change your bank account password and stop sharing data immediately.}} In the tweet, McGuiness shows a screenshot of his bank account, claiming hackers tried accessing through the FTX US website.<ref>{{cite web |title=If you have a bank account linked to FTX US, change your bank account password and stop sharing data immediately. |url=https://twitter.com/mikemcg0/status/1591477400634023938 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115074348/https://twitter.com/mikemcg0/status/1591477400634023938|archive-date=November 15, 2022}}</ref>
+
| November 12 || 5:05 p.m. || Mike McGuiness || Tweet || Hacking || gm.xyz founder Mike McGuiness tweets: {{quote|PSA: if you have a bank account linked to FTX US, change your bank account password and stop sharing data immediately.}} In the tweet, McGuiness shows a screenshot of his bank account, claiming hackers tried accessing through the FTX US website.<ref>{{cite web|author=Mike McGuiness|title=If you have a bank account linked to FTX US, change your bank account password and stop sharing data immediately. |url=https://twitter.com/mikemcg0/status/1591477400634023938 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115074348/https://twitter.com/mikemcg0/status/1591477400634023938|archive-date=November 15, 2022}}</ref>
 
|-
 
|-
| November 12 || 10:31 p.m. || Alyssa Vance || Tweet || FTX balance sheet || AI startup Apprente team member Alyssa Vance tweets: {{quote|This FTX "balance sheet" is absolutely the most ludicrous fucking thing I've ever seen. This is for a company that, in a boom year, had $1B in revenue and $300MM in profit.<ref>{{cite web|author=Alyssa Vance |title=This FTX "balance sheet" is absolutely the most ludicrous fucking thing I've ever seen. |url=https://twitter.com/alyssamvance/status/1591559274391797760 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221113172143/https://twitter.com/alyssamvance/status/1591559274391797760|archive-date=November 13, 2022}}</ref>}} {{w|Dustin Moskowitz}} would comment on the tweet: {{quote|As it got worse, the deceptions apparently increased. It is very hard to swallow that SBF was doing rational enterprise value calculations at that point; seems more like the classic case of the rogue trader doubling down rather than admitting mistakes.<ref name=DMtweet/>}}
+
| November 12 || 5:26 p.m. || Antoine Gara, Kadhim Shubber, Joshua Oliver || Article || Financial || The ''Financial Times'' reports that FTX's balance sheet shortly before the bankruptcy showed $9 billion in liabilities against $900 million in {{w|liquid assets}}, $5 billion in "less liquid" assets, and $3.2 billion in illiquid {{w|private equity}} investments. An obscure $7 million holding called “TRUMPLOSE” is also reported. There are no bitcoin assets listed, despite bitcoin liabilities of $1.4 billion.<ref>{{cite news |last1=Gara |first1=Antoine |last2=Shubber |first2=Kadhim |last3=Oliver |first3=Joshua |date=12 November 2022 |title=FTX held less than $1bn in liquid assets against $9bn in liabilities |language=English |url=https://www.ft.com/content/f05fe9f8-ca0a-48d5-8ef2-7a4d813af558 |access-date=12 November 2022 |archive-url=https://archive.ph/k1sML |archive-date=12 November 2022 |quote=Vast gap highlights the dire state of Sam Bankman-Fried’s exchange before it collapsed into bankruptcy}}</ref>
 +
|-
 +
| November 12 || 6:17 p.m. || Ryne Miller || Tweet || Unauthorized transaction || FTX's US general counsel Ryne Miller writes in a tweet: {{quote|Among other things, we are in the process of removing trading and withdrawal functionality and moving as many digital assets as can be identified to a new cold wallet custodian.  As widely reported, unauthorized access to certain assets has occurred.<ref>{{cite web|author=Ryne Miller|title=As widely reported, unauthorized access to certain assets has occurred|url=https://twitter.com/_Ryne_Miller/status/1591495429338071042 |website=Twitter |access-date=29 November 2022 |language=en|archive-url=https://web.archive.org/web/20221127221922/https://twitter.com/_Ryne_Miller/status/1591495429338071042|archive-date=November 27, 2022}}</ref>}}
 +
|-
 +
| November 12 || 10:31 p.m. || Alyssa Vance || Tweet || Financial || AI startup Apprente team member Alyssa Vance tweets: {{quote|This FTX "balance sheet" is absolutely the most ludicrous fucking thing I've ever seen. This is for a company that, in a boom year, had $1B in revenue and $300MM in profit.<ref>{{cite web|author=Alyssa Vance |title=This FTX "balance sheet" is absolutely the most ludicrous fucking thing I've ever seen. |url=https://twitter.com/alyssamvance/status/1591559274391797760 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221113172143/https://twitter.com/alyssamvance/status/1591559274391797760|archive-date=November 13, 2022}}</ref>}} {{w|Dustin Moskowitz}} would comment on the tweet: {{quote|As it got worse, the deceptions apparently increased. It is very hard to swallow that SBF was doing rational enterprise value calculations at that point; seems more like the classic case of the rogue trader doubling down rather than admitting mistakes.<ref name=DMtweet/>}}
 
|-  
 
|-  
| November 12 || 11:44 p.m. || Securities Commission of The Bahamas || Tweet || Customer withdrawal || The Securities Commission of The Bahamas publishes on Twitter a FTX Statement which contradicts FTX claim that it was required to process local withdrawals. According to the statement, SCB did not require the exchange to allow withdrawals for users in the country.<ref>{{cite web |title=Securities Commission Addresses FTX Statement on Bahamian Withdrawals |url=https://twitter.com/SCBgov_bs/status/1591577646005379074 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221113231849/https://twitter.com/SCBgov_bs/status/1591577646005379074|archive-date=November 13, 2022}}</ref><ref>{{cite web |title=Bahamas regulator contradicts FTX claim that it was required to process local withdrawals |url=https://www.theblock.co/post/186467/bahamas-regulator-ftx-claim-process-withdrawals |website=The Block |access-date=18 November 2022 |language=en}}</ref>
+
| November 12 || 10:54 p.m. || Marcelo Claure || Tweet || Notable comment || Former {{w|SoftBank}} COO Marcelo Claure tweets: {{quote|I have been reflecting personally on the whole FTX fiasco and it taught me one more time that we should NEVER invest because of FOMO and we should always 100% understand what we are investing in. I totally failed here on both.<ref>{{cite web|author=Marcelo Claure |title=I totally failed here on both |url=https://twitter.com/marceloclaure/status/1591565113022205952 |website=Twitter |access-date=29 November 2022 |language=en|archive-url=https://web.archive.org/web/20221124105505/https://twitter.com/marceloclaure/status/1591565113022205952|archive-date=November 24, 2022}}</ref>}}  SoftBank revealed days ago that it sunk just under $100 million into the company.<ref>{{cite web |last1=Gelsi |first1=Steve |title=Softbank discloses $100 million investment in FTX but mostly avoids crypto bets |url=https://www.marketwatch.com/story/softbank-discloses-100-million-investment-in-ftx-but-mostly-avoids-crypto-bets-11668171832 |website=MarketWatch |access-date=29 November 2022 |language=EN-US}}</ref><ref>{{cite web |last1=Azevedo |first1=Mary Ann |title=SoftBank writes down nearly $100 million investment in FTX |url=https://techcrunch.com/2022/11/14/softbank-ftx-crypto/ |website=TechCrunch |access-date=29 November 2022 |date=14 November 2022}}</ref>
 +
|-
 +
| November 12 || 11:44 p.m. || Securities Commission of The Bahamas || Tweet || Impact on users || The Securities Commission of The Bahamas publishes on Twitter a FTX Statement which contradicts FTX claim that it was required to process local withdrawals. According to the statement, SCB did not require the exchange to allow withdrawals for users in the country.<ref>{{cite web|author=Securities Commission of The Bahamas|title=Securities Commission Addresses FTX Statement on Bahamian Withdrawals |url=https://twitter.com/SCBgov_bs/status/1591577646005379074 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221113231849/https://twitter.com/SCBgov_bs/status/1591577646005379074|archive-date=November 13, 2022}}</ref><ref>{{cite web |title=Bahamas regulator contradicts FTX claim that it was required to process local withdrawals |url=https://www.theblock.co/post/186467/bahamas-regulator-ftx-claim-process-withdrawals |website=The Block |access-date=18 November 2022 |language=en}}</ref>
 
|-
 
|-
 
| November 13 || 0:42 a.m. || {{w|Dustin Moskovitz}} || Tweet || Impact on {{w|effective altruism}} || {{w|Dustin Moskovitz}} posts a 15-tweet thread on the FTX crisis. The first tweet reads: {{quote|Two seemingly contradictory things I believe about the SBF situation:  
 
| November 13 || 0:42 a.m. || {{w|Dustin Moskovitz}} || Tweet || Impact on {{w|effective altruism}} || {{w|Dustin Moskovitz}} posts a 15-tweet thread on the FTX crisis. The first tweet reads: {{quote|Two seemingly contradictory things I believe about the SBF situation:  
Line 323: Line 405:
 
a/ The Effective Altruism community will need to have a strong response/crucible moment
 
a/ The Effective Altruism community will need to have a strong response/crucible moment
 
   
 
   
b/ The simplest explanation for his behavior does not imply utilitarianism means-justifying, as widely assumed.<ref name=DMtweet>{{cite web |title=Two seemingly contradictory things I believe about the SBF situation |url=https://twitter.com/moskov/status/1591592375553781760 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221113181817/https://twitter.com/moskov/status/1591592375553781760|archive-date=November 13, 2022}}</ref>}} Moskovitz also states that, either effective altruism encouraged SBF's unethical behavior, or provided a convenient rationalization for such actions, and either is bad. He outlines the situation as infuriating, devastating, and incredibly humbling all at once.<ref name=DMtweet/>
+
b/ The simplest explanation for his behavior does not imply utilitarianism means-justifying, as widely assumed.<ref name=DMtweet>{{cite web|author={{w|Dustin Moskovitz}}|title=Two seemingly contradictory things I believe about the SBF situation |url=https://twitter.com/moskov/status/1591592375553781760 |website=Twitter |access-date=18 November 2022 |language=en|archive-url=https://web.archive.org/web/20221113181817/https://twitter.com/moskov/status/1591592375553781760|archive-date=November 13, 2022}}</ref>}} Moskovitz also states that, either effective altruism encouraged SBF's unethical behavior, or provided a convenient rationalization for such actions, and either is bad. He outlines the situation as infuriating, devastating, and incredibly humbling all at once.<ref name=DMtweet/>
 
|-  
 
|-  
 
| November 13 || 5:00 a.m. || Hamish Doodles || Effective Altruism Forum || FTX collapse || Hamish Doodles at the Effective Altruism Forum publishes a {{w|FAQ}} post on the FTX situation. Among the answered FAQs, it is estimated that FTX Future Fund contributed US$262 million, equivalent to the 35% of the total EA funds (741 million) in 2022.<ref name="FTX FAQ"/>
 
| November 13 || 5:00 a.m. || Hamish Doodles || Effective Altruism Forum || FTX collapse || Hamish Doodles at the Effective Altruism Forum publishes a {{w|FAQ}} post on the FTX situation. Among the answered FAQs, it is estimated that FTX Future Fund contributed US$262 million, equivalent to the 35% of the total EA funds (741 million) in 2022.<ref name="FTX FAQ"/>
Line 331: Line 413:
 
| November 13 || 4:06 a.m. || {{w|Vitalik Buterin}} || Tweet || Industry peer reaction || Russian-born Canadian {{w|Ethereum}} co-founder {{w|Vitalik Buterin}} tweets: {{quote|SBF the public figure deserves what it's getting and it's even healthy to have a good dunking session to reaffirm important community values.
 
| November 13 || 4:06 a.m. || {{w|Vitalik Buterin}} || Tweet || Industry peer reaction || Russian-born Canadian {{w|Ethereum}} co-founder {{w|Vitalik Buterin}} tweets: {{quote|SBF the public figure deserves what it's getting and it's even healthy to have a good dunking session to reaffirm important community values.
  
Sam the human being deserves love, and I hope he has friends and family that can give it to him.<ref>{{cite web |title=Sam the human being deserves love |url=https://twitter.com/VitalikButerin/status/1591643652815831040 |website=Twitter |access-date=20 November 2022 |language=en|archive-url=https://web.archive.org/web/20221114154336/https://twitter.com/VitalikButerin/status/1591643652815831040|archive-date=November 14, 2022}}</ref>}}
+
Sam the human being deserves love, and I hope he has friends and family that can give it to him.<ref>{{cite web|author={{w|Vitalik Buterin}}|title=Sam the human being deserves love |url=https://twitter.com/VitalikButerin/status/1591643652815831040 |website=Twitter |access-date=20 November 2022 |language=en|archive-url=https://web.archive.org/web/20221114154336/https://twitter.com/VitalikButerin/status/1591643652815831040|archive-date=November 14, 2022}}</ref>}}
 +
|-
 +
| November 13 || 6:24 p.m. || Coindesk || Article || Impact on the industry || Coindesk reports on Hong Kong-based crypto exchange AAX suspending withdrawal for as long as 10 days due to ​​the failure of an unidentified third party.<ref>{{cite web |last1=Schickler |first1=Jack |title=Crypto Exchange AAX Suspends Withdrawals as FTX Failure Reverberates |url=https://www.coindesk.com/business/2022/11/13/crypto-exchange-aax-suspends-withdrawals-as-ftx-failure-reverberates/ |website=www.coindesk.com |access-date=3 December 2022 |language=en |date=13 November 2022}}</ref> The company says it has no financial exposure to FTX or its affiliates.<ref>{{cite web |title=Navigating Turbulent Times |url=https://trends.aax.com/navigating-turbulent-times |website=AAX Trends |access-date=3 December 2022 |language=en}}</ref>
 +
|-
 +
| November 13 || 10:00 p.m. || Angus Berwick || Article || Impact on users || Angus Berwick at {{w|Reuters}} publishes an article reporting at least $1 billion of customer funds have vanished from FTX.<ref>{{cite web |last1=Berwick |first1=Angus |title=Exclusive: At least $1 billion of client funds missing at failed crypto firm FTX |url=https://www.reuters.com/markets/currencies/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-2022-11-12/ |website=Reuters |access-date=1 December 2022 |language=en |date=13 November 2022}}</ref>
 
|-
 
|-
| November 13 || circa 10:40 p.m. || SBF || || Bankruptcy || SBF penthouse in {{w|Nassau}} is put for sale with a price tag of US$39.5 million.<ref>{{cite web |title=Sam's penthouse "The Orchid" in the Albany exclusive community is now listed on the market for sale |url=https://twitter.com/AutismCapital/status/1591924127287463939 |website=Twitter |access-date=19 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115221358/https://twitter.com/AutismCapital/status/1591924127287463939|archive-date=November 15, 2022}}</ref>  
+
| November 13 || circa 10:40 p.m. || {{w|Sam Bankman-Fried}} || || Bankruptcy || SBF penthouse in {{w|Nassau}} is put for sale with a price tag of US$39.5 million.<ref>{{cite web|author=AutismCapital|title=Sam's penthouse "The Orchid" in the Albany exclusive community is now listed on the market for sale |url=https://twitter.com/AutismCapital/status/1591924127287463939 |website=Twitter |access-date=19 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115221358/https://twitter.com/AutismCapital/status/1591924127287463939|archive-date=November 15, 2022}}</ref>  
 
|-
 
|-
 
| November 13 || 6:02 p.m. || Nonlinear || Effective Altruism Forum || Grantmaking || Members of non-profit Nonlinear announce funding for Future Fund grantees affected by the FTX collapse, offering a small budget to help grantees cope with financial crisis.<ref>{{cite web |last1=Woods |first1=Kat |last2=Spartz |first2=Emerson |last3=Spartz |first3=Drew |title=Announcing Nonlinear Emergency Funding |url=https://forum.effectivealtruism.org/posts/L4S2NCysoJxgCBuB6/announcing-nonlinear-emergency-funding |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
| November 13 || 6:02 p.m. || Nonlinear || Effective Altruism Forum || Grantmaking || Members of non-profit Nonlinear announce funding for Future Fund grantees affected by the FTX collapse, offering a small budget to help grantees cope with financial crisis.<ref>{{cite web |last1=Woods |first1=Kat |last2=Spartz |first2=Emerson |last3=Spartz |first3=Drew |title=Announcing Nonlinear Emergency Funding |url=https://forum.effectivealtruism.org/posts/L4S2NCysoJxgCBuB6/announcing-nonlinear-emergency-funding |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 +
|-
 +
| November 13 || 10:45 p.m. || Scott Alexander || Article || Impact on {{w|effective altruism}} || Scott Alexander at his Substack publication Astral Codex Ten publishes an open thread, discussing the collapse of FTX and its impact in {{w|effective altruism}}. The thread elaborates on the risk taken by utilitarians, like the {{w|St. Petersburg paradox}}, which involves the game of flipping a coin where the expected payoff of the theoretical lottery game approaches infinity but nevertheless seems to be worth only a very small amount to the participants. Alexander writes: {{quote|..if you St. Petersburg yourself a bunch of times and lose everything, it’s going to be really hard to pat yourself on the back for a job counterfactually well done and walk away. More likely you’re going to panic and start grasping for unethical schemes that let you escape doom. So real-world St. Petersburg isn’t “50% chance of doubling your money, 50% chance of zero”, it’s “50% chance of doubling your money, 50% chance of getting put in a psychologically toxic situation where you’ll face almost irresistible pressure to do crazy things that will have vast negative impact.”<ref>{{cite web |last1=Alexander |first1=Scott |title=Open Thread 250 |url=https://astralcodexten.substack.com/p/open-thread-250 |website=astralcodexten.substack.com |access-date=28 November 2022 |language=en}}</ref>}}
 
|-
 
|-
 
| November 14 || 0:39 a.m. || || Effective Altruism Forum || Impact on {{w|effective altruism}} || A post on the Effective Altruism Forum addresses some lessons from the FTX situation that the author suspects are questionable in view of all that has happened. The author examines ambition, as well as the slogan "earning to give", also dicussing ethics and utilitarianism.<ref>{{cite web |title=Wrong lessons from the FTX catastrophe |url=https://forum.effectivealtruism.org/posts/DB9ggzc5u9RMBosoz/wrong-lessons-from-the-ftx-catastrophe |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
| November 14 || 0:39 a.m. || || Effective Altruism Forum || Impact on {{w|effective altruism}} || A post on the Effective Altruism Forum addresses some lessons from the FTX situation that the author suspects are questionable in view of all that has happened. The author examines ambition, as well as the slogan "earning to give", also dicussing ethics and utilitarianism.<ref>{{cite web |title=Wrong lessons from the FTX catastrophe |url=https://forum.effectivealtruism.org/posts/DB9ggzc5u9RMBosoz/wrong-lessons-from-the-ftx-catastrophe |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
|-
 
|-
| November 14 || 3:01 a.m. || {{w|Sam Bankman-Fried}} || Tweet || Notable comment || SBF account starts posting mysterious tweets, in what some suspect a compromised account, which posts the word “What,” which would be followed by another tweet with the letter “H”. Within the day, someone would make a WHAT meme coin based on SBF’s tweet.<ref>{{cite web |title=FTX's Sam Bankman-Fried Starts Posting Mysterious Tweets|url=https://u.today/ftxs-sam-bankman-fried-starts-posting-mysterious-tweets|website=U.Today |access-date=15 November 2022 |date=14 November 2022}}</ref><ref name=what>{{cite web |title=What |url=https://twitter.com/SBF_FTX/status/1591989554881658880|website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116093431/https://twitter.com/SBF_FTX/status/1591989554881658880|archive-date=November 16, 2022}}</ref>  
+
| November 14 || 3:01 a.m. || {{w|Sam Bankman-Fried}} || Tweet || Notable comment || SBF account starts posting mysterious tweets, in what some suspect a compromised account, which posts the word “What,” which would be followed by another tweet with the letter “H”. Within the day, someone would make a WHAT meme coin based on SBF’s tweet.<ref>{{cite web|author={{w|Sam Bankman-Fried}}|title=FTX's Sam Bankman-Fried Starts Posting Mysterious Tweets|url=https://u.today/ftxs-sam-bankman-fried-starts-posting-mysterious-tweets|website=U.Today |access-date=15 November 2022 |date=14 November 2022}}</ref><ref name=what>{{cite web |title=What |url=https://twitter.com/SBF_FTX/status/1591989554881658880|website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221116093431/https://twitter.com/SBF_FTX/status/1591989554881658880|archive-date=November 16, 2022}}</ref>  
 
|-
 
|-
 
| November 14 || 6:39 a.m. || {{w|Changpeng Zhao}} || Tweet || Industry peer reaction || {{w|Changpeng Zhao}} tweets: {{quote|To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify.<ref>{{cite web|author={{w|Changpeng Zhao}} |title=Binance is forming an industry recovery fund |url=https://twitter.com/cz_binance/status/1592044496174612482 |website=Twitter |access-date=14 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115214814/https://twitter.com/cz_binance/status/1592044496174612482|archive-date=November 15, 2022}}</ref>}}
 
| November 14 || 6:39 a.m. || {{w|Changpeng Zhao}} || Tweet || Industry peer reaction || {{w|Changpeng Zhao}} tweets: {{quote|To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify.<ref>{{cite web|author={{w|Changpeng Zhao}} |title=Binance is forming an industry recovery fund |url=https://twitter.com/cz_binance/status/1592044496174612482 |website=Twitter |access-date=14 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115214814/https://twitter.com/cz_binance/status/1592044496174612482|archive-date=November 15, 2022}}</ref>}}
 
|-
 
|-
| November 14 || 12:43 a.m. || James Fodor || Effective Altruism Forum || Impact on {{w|effective altruism}} || In light of the FTX crisis, James Fodor at the Effective Altruism Forum publishes a post arguing that aspects of good governance and robust institution building have not been very highly valued in the broader effective altruist community. The author questions weak norms of governance and calls for the need for better norms.<ref>{{cite web |title=The FTX crisis highlights a deeper cultural problem within EA - we don't sufficiently value good governance |url=https://forum.effectivealtruism.org/posts/sEpWkCvvJfoEbhnsd/the-ftx-crisis-highlights-a-deeper-cultural-problem-within |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
+
| November 14 || 12:43 p.m. || James Fodor || Effective Altruism Forum || Impact on {{w|effective altruism}} || In light of the FTX crisis, James Fodor at the Effective Altruism Forum publishes a post arguing that aspects of good governance and robust institution building have not been very highly valued in the broader effective altruist community. The author questions weak norms of governance and calls for the need for better norms.<ref>{{cite web |title=The FTX crisis highlights a deeper cultural problem within EA - we don't sufficiently value good governance |url=https://forum.effectivealtruism.org/posts/sEpWkCvvJfoEbhnsd/the-ftx-crisis-highlights-a-deeper-cultural-problem-within |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
|-
 
|-
| November 14 || ? || || || Contract termination || San Francisco-based NBA team {{w|Golden State Warriors}} terminates all FTX-related promotional deals, including global ambassador for FTX {{w|Stephen Curry}}, and FTX US and its NFT marketplace as the Warriors’ official cryptocurrency platform.<ref>{{cite web |title=Warriors will pause all FTX-related promotions |url=https://www.espn.com/nba/story/_/id/35028576/golden-state-warriors-pause-all-ftx-related-promotions |website=ESPN.com |access-date=26 November 2022 |language=en |date=15 November 2022}}</ref><ref name="Blockworks">{{cite web |title=The Last 10 Days in the FTX Saga: A Timeline |url=https://blockworks.co/news/the-last-10-days-in-the-ftx-saga-a-timeline |website=Blockworks |access-date=26 November 2022 |language=en |date=23 November 2022}}</ref>  
+
| November 14 || ? || || || Partnership termination || San Francisco-based NBA team {{w|Golden State Warriors}} terminates all FTX-related promotional deals, including global ambassador for FTX {{w|Stephen Curry}}, and FTX US and its NFT marketplace as the Warriors’ official cryptocurrency platform.<ref>{{cite web |title=Warriors will pause all FTX-related promotions |url=https://www.espn.com/nba/story/_/id/35028576/golden-state-warriors-pause-all-ftx-related-promotions |website=ESPN.com |access-date=26 November 2022 |language=en |date=15 November 2022}}</ref><ref name="Blockworks">{{cite web |title=The Last 10 Days in the FTX Saga: A Timeline |url=https://blockworks.co/news/the-last-10-days-in-the-ftx-saga-a-timeline |website=Blockworks |access-date=26 November 2022 |language=en |date=23 November 2022}}</ref>  
 
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|-
 
| November 14 || 1:41 p.m. || Byrne Hobart || Article || FTX collapse || An article at Substack newsletter The Diff! is published by Byrne Hobart, analizing the FTX crisis in relation to the concepts of money, credit, and trust.<ref>{{cite web |last1=Hobart |first1=Byrne |title=Money, Credit, Trust, and FTX |url=https://www.thediff.co/p/money-credit-trust-ftx|website=www.thediff.co |access-date=22 November 2022 |language=en}}</ref>
 
| November 14 || 1:41 p.m. || Byrne Hobart || Article || FTX collapse || An article at Substack newsletter The Diff! is published by Byrne Hobart, analizing the FTX crisis in relation to the concepts of money, credit, and trust.<ref>{{cite web |last1=Hobart |first1=Byrne |title=Money, Credit, Trust, and FTX |url=https://www.thediff.co/p/money-credit-trust-ftx|website=www.thediff.co |access-date=22 November 2022 |language=en}}</ref>
 
|-
 
|-
| November 14 || 4:49 p.m. || Travis Kling || Tweet || Impact on customers || Travis Kling from crypto management firm Ikigai announces on Twitter having been caught up in the FTX collapse. With a large majority of the hedge fund’s total assets on FTX, Kling announces having been able to withdraw very little out. In the thread Kling writes: {{quote|It was entirely my fault and not anyone else’s. I lost my investors’ money after they put faith in me to manage risk and I am truly sorry for that. I have publicly endorsed FTX many times and I am truly sorry for that. I was wrong.<ref>{{cite web|author=Travis Kling |title=. We had a large majority of the hedge fund’s total assets on FTX |url=https://twitter.com/Travis_Kling/status/1592198107734876160 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115025236/https://twitter.com/Travis_Kling/status/1592198107734876160|archive-date=November 15, 2022}}</ref>}}
+
| November 14 || 4:49 p.m. || Travis Kling || Tweet || Impact on users || Travis Kling from crypto management firm Ikigai announces on Twitter having been caught up in the FTX collapse. With a large majority of the hedge fund’s total assets on FTX, Kling announces having been able to withdraw very little out. In the thread Kling writes: {{quote|It was entirely my fault and not anyone else’s. I lost my investors’ money after they put faith in me to manage risk and I am truly sorry for that. I have publicly endorsed FTX many times and I am truly sorry for that. I was wrong.<ref>{{cite web|author=Travis Kling |title=. We had a large majority of the hedge fund’s total assets on FTX |url=https://twitter.com/Travis_Kling/status/1592198107734876160 |website=Twitter |access-date=15 November 2022 |language=en|archive-url=https://web.archive.org/web/20221115025236/https://twitter.com/Travis_Kling/status/1592198107734876160|archive-date=November 15, 2022}}</ref>}}
 
|-
 
|-
| November 14 || 6:09 p.m. || [[w:Matt Levine (columnist)|Matt Levine]] || Article || FTX balance sheet || Financial columnist [[w:Matt Levine (columnist)|Matt Levine]] at <code>bloomberg.com</code> publishes an article explaining the disastrous FTX balance sheet.<ref>{{cite web |title=Bloomberg - Are you a robot? |url=https://www.bloomberg.com/opinion/articles/2022-11-14/ftx-s-balance-sheet-was-bad?leadSource=uverify+wall |website=www.bloomberg.com |access-date=18 November 2022|archive-url=https://archive.ph/hZszH#selection-3545.43-3545.48|archive-date=November 14, 2022}}</ref><ref>{{cite web |last1=Temple |first1=Elliot |title=Money Stuff: FTX’s Balance Sheet Was Bad |url=https://forum.effectivealtruism.org/posts/xauPtrTdKjQo9EogZ/money-stuff-ftx-s-balance-sheet-was-bad |website=forum.effectivealtruism.org |access-date=18 November 2022 |language=en}}</ref>
+
| November 14 || 6:09 p.m. || [[w:Matt Levine (columnist)|Matt Levine]] || Article || Financial || Financial columnist [[w:Matt Levine (columnist)|Matt Levine]] at <code>bloomberg.com</code> publishes an article explaining the disastrous FTX balance sheet.<ref>{{cite web |title=Bloomberg - Are you a robot? |url=https://www.bloomberg.com/opinion/articles/2022-11-14/ftx-s-balance-sheet-was-bad?leadSource=uverify+wall |website=www.bloomberg.com |access-date=18 November 2022|archive-url=https://archive.ph/hZszH#selection-3545.43-3545.48|archive-date=November 14, 2022}}</ref><ref>{{cite web |last1=Temple |first1=Elliot |title=Money Stuff: FTX’s Balance Sheet Was Bad |url=https://forum.effectivealtruism.org/posts/xauPtrTdKjQo9EogZ/money-stuff-ftx-s-balance-sheet-was-bad |website=forum.effectivealtruism.org |access-date=18 November 2022 |language=en}}</ref>
 
|-
 
|-
 
| November 14 || 6:46 p.m. || Eric Neyman || Effective Altruism Forum || Impact on {{w|effective altruism}} || Eric Neyman at the Effective Altruism Forum publishes a highly upvoted post suggesting higher standards for how to draw lessons from the FTX collapse. The author expresses that proposed answers to the question of what should members of the EA community have done differently, given the information they had at the time, would be considerably more useful if they address a number of criteria.<ref>{{cite web |last1=Neyman |first1=Eric |title=Proposals for reform should come with detailed stories |url=https://forum.effectivealtruism.org/posts/aHPhh6GjHtTBhe7cX/proposals-for-reform-should-come-with-detailed-stories |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
| November 14 || 6:46 p.m. || Eric Neyman || Effective Altruism Forum || Impact on {{w|effective altruism}} || Eric Neyman at the Effective Altruism Forum publishes a highly upvoted post suggesting higher standards for how to draw lessons from the FTX collapse. The author expresses that proposed answers to the question of what should members of the EA community have done differently, given the information they had at the time, would be considerably more useful if they address a number of criteria.<ref>{{cite web |last1=Neyman |first1=Eric |title=Proposals for reform should come with detailed stories |url=https://forum.effectivealtruism.org/posts/aHPhh6GjHtTBhe7cX/proposals-for-reform-should-come-with-detailed-stories |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
|-
 
|-
| November 14 || 9:07 p.m. || Kari McMahon || Article || Team || An article at The Block is published, focusing on FTX’s billionaire co-founder Gary Wang, who was also one of the top executives at the exchange. The article highlights his quiet personality, with coding being his only interest, according to sources.<ref>{{cite web |title=Who is billionaire FTX co-founder Gary Wang and why is he still committing code? |url=https://www.theblock.co/post/186476/who-is-billionaire-ftx-co-founder-gary-wang-and-why-is-he-still-committing-code |website=The Block |access-date=theblock.co |language=en}}</ref>
+
| November 14 || 9:07 p.m. || Kari McMahon || Article || Team || An article at The Block is published, focusing on FTX’s billionaire co-founder Gary Wang, who was also one of the top executives at the exchange. The article highlights his quiet personality, with coding being his only interest, according to sources.<ref>{{cite web |title=Who is billionaire FTX co-founder Gary Wang and why is he still committing code? |url=https://www.theblock.co/post/186476/who-is-billionaire-ftx-co-founder-gary-wang-and-why-is-he-still-committing-code |website=The Block |access-date=3 December 2022 |language=en}}</ref>
 
|-
 
|-
 
| November 14 || circa 11 p.m. || {{w|Sam Bankman-Fried}} || Interview || FTX collapse || SBF is interviewed by the ''{{w|New York Times}}''. He confesses: {{quote|Had I been a bit more concentrated on what I was doing, I would have been able to be more thorough (..) That would have allowed me to catch what was going on on the risk side.<ref>{{cite web |title=How Sam Bankman-Fried’s Crypto Empire Collapsed |url=https://www.nytimes.com/2022/11/14/technology/ftx-sam-bankman-fried-crypto-bankruptcy.html|website=nytimes.com |access-date=15 November 2022}}</ref>}} The ''New York Times'' article focuses on the impact the FTX collapse has had on effective altruism.<ref>{{cite web |title=NY Times on the FTX implosion's impact on EA |url=https://forum.effectivealtruism.org/posts/efGNMe6uB87qXozXJ/ny-times-on-the-ftx-implosion-s-impact-on-ea |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
| November 14 || circa 11 p.m. || {{w|Sam Bankman-Fried}} || Interview || FTX collapse || SBF is interviewed by the ''{{w|New York Times}}''. He confesses: {{quote|Had I been a bit more concentrated on what I was doing, I would have been able to be more thorough (..) That would have allowed me to catch what was going on on the risk side.<ref>{{cite web |title=How Sam Bankman-Fried’s Crypto Empire Collapsed |url=https://www.nytimes.com/2022/11/14/technology/ftx-sam-bankman-fried-crypto-bankruptcy.html|website=nytimes.com |access-date=15 November 2022}}</ref>}} The ''New York Times'' article focuses on the impact the FTX collapse has had on effective altruism.<ref>{{cite web |title=NY Times on the FTX implosion's impact on EA |url=https://forum.effectivealtruism.org/posts/efGNMe6uB87qXozXJ/ny-times-on-the-ftx-implosion-s-impact-on-ea |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>
 
|-
 
|-
| Novcember 15 || 9:58 a.m. || PeckShield || Tweet || Security || Security firm PeckShield tweets: {{quote|#PeckShieldAlert FTX Accounts Drainer has swapped 48.27M $DAI (~$48.36M) to 37.57k $ETH (~$47.69M) on Ethereum
+
| November 15 || 6:46 a.m. || whalechart.org || Twitter || FTX collapse || Mr. Whale 🐳 whalechart.org on Twitter publishes a document shared by an insider, where Caroline Ellison explains how FTX and Alameda collapsed.<ref>{{cite web |title=According to an insider, CEO of Alameda explained how they lost it all. #FTX |url=https://twitter.com/whalechart/status/1592408565402464259 |website=Twitter |access-date=13 December 2022 |language=en|archive-url=https://web.archive.org/web/20221115075300/https://twitter.com/whalechart/status/1592408565402464259|archive-date=November 15, 2022}}</ref>
 +
|-
 +
| November 15 || 9:58 a.m. || PeckShield || Tweet || Security || Security firm PeckShield tweets: {{quote|#PeckShieldAlert FTX Accounts Drainer has swapped 48.27M $DAI (~$48.36M) to 37.57k $ETH (~$47.69M) on Ethereum
 
Arbitrary loss: -$671,424.25
 
Arbitrary loss: -$671,424.25
FTX Accounts Drainer currently holds 228,523.83 $ETH (~$288M) and makes the address become the 35th largest holder of ETH.<ref>{{cite web |title=FTX Accounts Drainer has swapped 48.27M $DAI (~$48.36M) to 37.57k $ETH (~$47.69M) on Ethereum |url=https://twitter.com/PeckShieldAlert/status/1592457092392448002 |website=Twitter |access-date=27 November 2022 |language=en|archive-url=https://web.archive.org/web/20221120231443/https://twitter.com/PeckShieldAlert/status/1592457092392448002|archive-date=November 20, 2022}}</ref>}}
+
FTX Accounts Drainer currently holds 228,523.83 $ETH (~$288M) and makes the address become the 35th largest holder of ETH.<ref>{{cite web|author=PeckShield|title=FTX Accounts Drainer has swapped 48.27M $DAI (~$48.36M) to 37.57k $ETH (~$47.69M) on Ethereum |url=https://twitter.com/PeckShieldAlert/status/1592457092392448002 |website=Twitter |access-date=27 November 2022 |language=en|archive-url=https://web.archive.org/web/20221120231443/https://twitter.com/PeckShieldAlert/status/1592457092392448002|archive-date=November 20, 2022}}</ref>}}
 
|-
 
|-
 
| November 15 || ? || {{w|Sam Harris}} || {{w|Podcast}} || Impact on {{w|effective altruism}} || American philosopher {{w|Sam Harris}} publishes a podcast discussing SBF, the collapse of FTX, and its impact on Effective Altruism.<ref>{{cite web |title=The Fall of Sam Bankman-Fried |url=https://www.samharris.org/podcasts/making-sense-episodes/303-the-fall-of-sam-bankman-fried |website=Sam Harris |access-date=19 November 2022}}</ref><ref>{{cite web |title=The Fall of Sam Bankman-Fried (Episode #303) |url=https://www.youtube.com/watch?v=Qg9k3ql7Wkg |website=youtube.com |access-date=19 November 2022 |language=en}}</ref>
 
| November 15 || ? || {{w|Sam Harris}} || {{w|Podcast}} || Impact on {{w|effective altruism}} || American philosopher {{w|Sam Harris}} publishes a podcast discussing SBF, the collapse of FTX, and its impact on Effective Altruism.<ref>{{cite web |title=The Fall of Sam Bankman-Fried |url=https://www.samharris.org/podcasts/making-sense-episodes/303-the-fall-of-sam-bankman-fried |website=Sam Harris |access-date=19 November 2022}}</ref><ref>{{cite web |title=The Fall of Sam Bankman-Fried (Episode #303) |url=https://www.youtube.com/watch?v=Qg9k3ql7Wkg |website=youtube.com |access-date=19 November 2022 |language=en}}</ref>
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|-
 
|-
 
| November 15 || 5:49 || Linda Kinstler || Article || Impact on {{w|effective altruism}} || Linda Kinstler at ''{{w|The Economist}}'' publishes an article addressing the impact of the collapse of FTX has had on {{w|effective altruism}}. The author concludes that SBF's advocated {{w|longtermism}} is a stance in which prediction and speculation are often indistinguishable and obligations to a probabilistic future outweigh those to the material present. Kinstler describes effective altruism as ultimately a gamble, in which SBF placed his bet, and for now, he has lost.<ref>{{cite web |title=The good delusion: has effective altruism broken bad? |url=https://www.economist.com/1843/2022/11/15/the-good-delusion-has-effective-altruism-broken-bad |website=The Economist |access-date=24 November 2022|archive-url=https://archive.ph/HiFq9#selection-795.0-799.97|archive-date=November 20, 2022}}</ref>
 
| November 15 || 5:49 || Linda Kinstler || Article || Impact on {{w|effective altruism}} || Linda Kinstler at ''{{w|The Economist}}'' publishes an article addressing the impact of the collapse of FTX has had on {{w|effective altruism}}. The author concludes that SBF's advocated {{w|longtermism}} is a stance in which prediction and speculation are often indistinguishable and obligations to a probabilistic future outweigh those to the material present. Kinstler describes effective altruism as ultimately a gamble, in which SBF placed his bet, and for now, he has lost.<ref>{{cite web |title=The good delusion: has effective altruism broken bad? |url=https://www.economist.com/1843/2022/11/15/the-good-delusion-has-effective-altruism-broken-bad |website=The Economist |access-date=24 November 2022|archive-url=https://archive.ph/HiFq9#selection-795.0-799.97|archive-date=November 20, 2022}}</ref>
 +
|-
 +
| November 15 || 5:51 p.m. || Tiffany Fong || Tweet || Impact on users || Tiffany Fong tweets: {{w|Salt Lending has admitted exposure to FTX & has paused deposits & withdrawals effective immediately.<ref>{{cite web|author=Tiffany Fong|title=Salt Lending has admitted exposure to FTX & has paused deposits & withdrawals effective immediately |url=https://twitter.com/TiffanyFong_/status/1592575979985465344 |website=Twitter |access-date=3 December 2022 |language=en|archive-url=https://web.archive.org/web/20221115185504/https://twitter.com/TiffanyFong_/status/1592575979985465344|archive-date=November 15, 2022}}</ref>}} Hours later, {{w|CoinDesk}} would report SALT halting all deposits and withdrawals on its platform due to FTX exposure.<ref>{{cite web |last1=Ashraf |first1=Aoyon |title=Online Investing Platform BnkToTheFuture Drops Plan to Acquire Crypto Lender Salt Lending Due to FTX Exposure |url=https://www.coindesk.com/business/2022/11/15/online-investing-platform-bnktothefuture-drops-plan-to-acquire-crypto-lender-salt-lending-due-to-ftx-exposure/ |website=www.coindesk.com |access-date=3 December 2022 |language=en |date=15 November 2022}}</ref>
 +
|-
 +
| November 15 || || Liquid Global || Tweet || Impact on the industry || Japanese crypto exchange Liquid, owned by FTX, announces on Twitter the suspension both fiat and crypto withdrawals on its Liquid Global platform, which writes: {{quote|Due to the Chapter 11 filing by FTX Trading International the ultimate beneficial owner of Quoine Pte. Ltd, Liquid Exchage (Quoine Pte.) is halting all withdrawals - both fiat and crypto currency.<ref>{{cite web|author=Liquid Global Official|title=Liquid Exchage (Quoine Pte.) is halting all withdrawals - both fiat and crypto currency. |url=https://twitter.com/Liquid_Global/status/1592374180577968128 |website=Twitter |access-date=3 December 2022 |language=en|archive-url=https://web.archive.org/web/20221115121131/https://twitter.com/Liquid_Global/status/1592374180577968128|archive-date=November 15, 2022}}</ref>}}
 
|-
 
|-
 
| November 15 || 7:42 p.m. || Shakeel Hashim || Effective Altruism Forum || Impact on {{w|effective altruism}} || Shakeel Hashim from the Centre for Effective Altruism publishes a post addressing communication from EA organizations and their leaders, and the frustrating situation for all involved, as EA community members may not want to say things they’ll regret in the years to come. The author expects that in the short term there will be a lot less communication for a number of reasons, including legal risk. This is the first post talking about the EA org side of the situation.<ref>{{cite web |last1=Hashim |first1=Shakeel |title=Why you’re not hearing as much from EA orgs as you’d like |url=https://forum.effectivealtruism.org/posts/Et7oPMu6czhEd8ExW/why-you-re-not-hearing-as-much-from-ea-orgs-as-you-d-like |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>   
 
| November 15 || 7:42 p.m. || Shakeel Hashim || Effective Altruism Forum || Impact on {{w|effective altruism}} || Shakeel Hashim from the Centre for Effective Altruism publishes a post addressing communication from EA organizations and their leaders, and the frustrating situation for all involved, as EA community members may not want to say things they’ll regret in the years to come. The author expects that in the short term there will be a lot less communication for a number of reasons, including legal risk. This is the first post talking about the EA org side of the situation.<ref>{{cite web |last1=Hashim |first1=Shakeel |title=Why you’re not hearing as much from EA orgs as you’d like |url=https://forum.effectivealtruism.org/posts/Et7oPMu6czhEd8ExW/why-you-re-not-hearing-as-much-from-ea-orgs-as-you-d-like |website=forum.effectivealtruism.org |access-date=19 November 2022 |language=en}}</ref>   
 
|-
 
|-
| November 16 || 2:44 a.m. || {{w|Sam Bankman-Fried}} || Tweet || || SBF tweets as part of a days-long thread: {{quote|A few weeks ago, FTX was handling ~$10b/day of volume and billions of transfers.
+
| November 16 || 2:44 a.m. || {{w|Sam Bankman-Fried}} || Tweet || SBF comment || SBF tweets as part of a days-long thread: {{quote|A few weeks ago, FTX was handling ~$10b/day of volume and billions of transfers.
  
 
But there was too much leverage--more than I realized.  A run on the bank and market crash exhausted liquidity.
 
But there was too much leverage--more than I realized.  A run on the bank and market crash exhausted liquidity.
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| November 16 || ? || {{w|80,000 Hours}} || || Impact on {{w|effective altruism}} || London-based nonprofit organization {{w|80,000 Hours}} publishes their official statement regarding the collapse of FTX. Among the announcements, the org confirms it will start by removing instances on their website where SBF was highlighted as a positive example of someone pursuing a high-impact career.<ref>{{cite web |last1=author |first1=Hide |title=Regarding the collapse of FTX |url=https://80000hours.org/2022/11/regarding-the-collapse-of-ftx/ |website=80,000 Hours |access-date=26 November 2022 |date=16 November 2022}}</ref>
 
| November 16 || ? || {{w|80,000 Hours}} || || Impact on {{w|effective altruism}} || London-based nonprofit organization {{w|80,000 Hours}} publishes their official statement regarding the collapse of FTX. Among the announcements, the org confirms it will start by removing instances on their website where SBF was highlighted as a positive example of someone pursuing a high-impact career.<ref>{{cite web |last1=author |first1=Hide |title=Regarding the collapse of FTX |url=https://80000hours.org/2022/11/regarding-the-collapse-of-ftx/ |website=80,000 Hours |access-date=26 November 2022 |date=16 November 2022}}</ref>
 
|-
 
|-
| November 16 || 8:20 p.m. || Kelsey Piper || Interview || FTX collapse || Kelsey Piper, a writer at a ''[[w:Vox (website)|Vox]]''’s effective-altruism-inspired section, publishes an interview with SBF, who claims his firms FTX and Alameda Research have gambled with customer money without realizing that’s what they were doing. He also comments about regulators, about regretting his decision to declare bankruptcy, and about what he would have done differently with FTX and Alameda, which includes more careful accounting and offboarding Alameda from FTX once FTX "could live on its own".<ref>{{cite web |last1=Piper |first1=Kelsey |title=Sam Bankman-Fried tries to explain himself |url=https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy |website=Vox |access-date=24 November 2022 |language=en |date=16 November 2022}}</ref> FTX would publish an official response on Twitter regarding SBF comments, in a 3-tweet thread with John Ray stating that SBF  has no ongoing role at FTX, FTX US, or Alameda Research, and does not speak on their behalf.<ref>{{cite web |title=Statement from John Ray |url=https://twitter.com/FTX_Official/status/1592985702626885632 |website=Twitter |access-date=24 November 2022 |language=en|archive-url=https://web.archive.org/web/20221118005202/https://twitter.com/FTX_Official/status/1592985702626885632|archive-date=November 18, 2022}}</ref> SBF revelations would also be commented in a ''{{w|Hacker News}}'' discussion,<ref>{{cite web |title=Sam Bankman-Fried tries to explain himself {{!}} Hacker News |url=https://news.ycombinator.com/item?id=33630150 |website=news.ycombinator.com |access-date=24 November 2022}}</ref> and covered at ''{{w|Business Insider}}''.<ref>{{cite web |last1=Nguyen |first1=Britney |title=Go read these wild DMs between Sam Bankman-Fried and a reporter, where the FTX founder reveals what he really thinks about his firm's implosion |url=https://www.businessinsider.com/sam-bankman-fried-sbf-dms-with-reporter-ftx-comments-regulators-2022-11 |website=''{{w|Business Insider}}'' |access-date=24 November 2022}}</ref>
+
| November 16 || 8:20 p.m. || Kelsey Piper || Interview || SBF interview || Kelsey Piper, a writer at a ''[[w:Vox (website)|Vox]]''’s effective-altruism-inspired section, publishes an interview with SBF, who claims his firms FTX and Alameda Research have gambled with customer money without realizing that’s what they were doing. He also comments about regulators, about regretting his decision to declare bankruptcy, and about what he would have done differently with FTX and Alameda, which includes more careful accounting and offboarding Alameda from FTX once FTX "could live on its own".<ref>{{cite web |last1=Piper |first1=Kelsey |title=Sam Bankman-Fried tries to explain himself |url=https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy |website=Vox |access-date=24 November 2022 |language=en |date=16 November 2022}}</ref> FTX would publish an official response on Twitter regarding SBF comments, in a 3-tweet thread with John Ray stating that SBF  has no ongoing role at FTX, FTX US, or Alameda Research, and does not speak on their behalf.<ref>{{cite web|author=FTX Official|title=Statement from John Ray |url=https://twitter.com/FTX_Official/status/1592985702626885632 |website=Twitter |access-date=24 November 2022 |language=en|archive-url=https://web.archive.org/web/20221118005202/https://twitter.com/FTX_Official/status/1592985702626885632|archive-date=November 18, 2022}}</ref> SBF revelations would also be commented in a ''{{w|Hacker News}}'' discussion,<ref>{{cite web |title=Sam Bankman-Fried tries to explain himself {{!}} Hacker News |url=https://news.ycombinator.com/item?id=33630150 |website=news.ycombinator.com |access-date=24 November 2022}}</ref> and covered at ''{{w|Business Insider}}''.<ref>{{cite web |last1=Nguyen |first1=Britney |title=Go read these wild DMs between Sam Bankman-Fried and a reporter, where the FTX founder reveals what he really thinks about his firm's implosion |url=https://www.businessinsider.com/sam-bankman-fried-sbf-dms-with-reporter-ftx-comments-regulators-2022-11 |website=''{{w|Business Insider}}'' |access-date=24 November 2022}}</ref>
 
|-
 
|-
| November 16 || 5:10 a.m. || Open Philanthropy || Effective Altruism Forum || Grantmaking || Bastian Stern from [[w:Open Philanthropy (organization)|Open Philanthropy]] publishes a post announcing Open Phil is seeking applications from FTX Future Fund grantees impacted by the FTX collapse.<ref>{{cite web |title=Open Phil is seeking applications from grantees impacted by recent events |url=https://forum.effectivealtruism.org/posts/HPdWWetJbv4z8eJEe/open-phil-is-seeking-applications-from-grantees-impacted-by |website=forum.effectivealtruism.org |access-date=22 November 2022 |language=en}}</ref>
+
| November 16 || 5:10 a.m. || Open Philanthropy || Effective Altruism Forum || Impact on effective altruism || Bastian Stern from [[w:Open Philanthropy (organization)|Open Philanthropy]] publishes a post announcing Open Phil is seeking applications from FTX Future Fund grantees impacted by the FTX collapse.<ref>{{cite web |title=Open Phil is seeking applications from grantees impacted by recent events |url=https://forum.effectivealtruism.org/posts/HPdWWetJbv4z8eJEe/open-phil-is-seeking-applications-from-grantees-impacted-by |website=forum.effectivealtruism.org |access-date=22 November 2022 |language=en}}</ref>
 
|-
 
|-
 
| November 16 || 9:18 a.m. || Scott Alexander || Blog post || {{w|Psychopharmacology}} || A blog post at ''Astral Codex Ten'' discuses the use of drug stimulants in the FTX team and their possible contribution to the collapse of the Exchange. The author considers the probability of medication causing overspending and compulsive gambling as a side effect in SBF.<ref>{{cite web |last1=Alexander |first1=Scott |title=The Psychopharmacology Of The FTX Crash |url=https://astralcodexten.substack.com/p/the-psychopharmacology-of-the-ftx |website=astralcodexten.substack.com |access-date=18 November 2022 |language=en}}</ref>  
 
| November 16 || 9:18 a.m. || Scott Alexander || Blog post || {{w|Psychopharmacology}} || A blog post at ''Astral Codex Ten'' discuses the use of drug stimulants in the FTX team and their possible contribution to the collapse of the Exchange. The author considers the probability of medication causing overspending and compulsive gambling as a side effect in SBF.<ref>{{cite web |last1=Alexander |first1=Scott |title=The Psychopharmacology Of The FTX Crash |url=https://astralcodexten.substack.com/p/the-psychopharmacology-of-the-ftx |website=astralcodexten.substack.com |access-date=18 November 2022 |language=en}}</ref>  
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| November 16 || 11:18 a.m. || {{w|Olúfẹ́mi O. Táíwò}}, Joshua Stein || Article || Impact on {{w|effective altruism}} || {{w|Georgetown University}} fellows {{w|Olúfẹ́mi O. Táíwò}} and Joshua Stein publish an article on {{w|The Guardian}} criticizing the effective altruist movement, and points the FTX fraud scandal calling into question the “effective” part of effective altruism. A quote from the article reads: {{quote|If the movement doesn’t change course, then one of the most ambitious charitable fundraising drives in recent history will be used to pour money back into the pockets of wealthy donors who fancy themselves swashbuckling visionaries.}} The authors suggest that proposed structural reforms and democratic control of philanthropic organizations by those who are impacted by the organizations’ endeavors seem to have been largely ignored in favor of a tech and capital-friendly research agenda, and a system controlled by a wealthy minority.<ref>{{cite web |title=Is the effective altruism movement in trouble? {{!}} Olúfẹ́mi O Táíwò and Joshua Stein |url=https://www.theguardian.com/commentisfree/2022/nov/16/is-the-effective-altruism-movement-in-trouble |website=the Guardian |access-date=17 November 2022 |language=en |date=16 November 2022}}</ref> They also shortly criticize longtermism as a guise for tech billionnaires to develop pet projects.<ref>{{cite web |last1=Varga |first1=David |title=[Linkpost] [Summary] The Guardian: Is the effective altruism movement in trouble? (FTX related opinion piece) |url=https://forum.effectivealtruism.org/posts/efkxaQSQbBx7wpHpi/linkpost-summary-the-guardian-is-the-effective-altruism |website=forum.effectivealtruism.org |access-date=17 November 2022 |language=en}}</ref>
 
| November 16 || 11:18 a.m. || {{w|Olúfẹ́mi O. Táíwò}}, Joshua Stein || Article || Impact on {{w|effective altruism}} || {{w|Georgetown University}} fellows {{w|Olúfẹ́mi O. Táíwò}} and Joshua Stein publish an article on {{w|The Guardian}} criticizing the effective altruist movement, and points the FTX fraud scandal calling into question the “effective” part of effective altruism. A quote from the article reads: {{quote|If the movement doesn’t change course, then one of the most ambitious charitable fundraising drives in recent history will be used to pour money back into the pockets of wealthy donors who fancy themselves swashbuckling visionaries.}} The authors suggest that proposed structural reforms and democratic control of philanthropic organizations by those who are impacted by the organizations’ endeavors seem to have been largely ignored in favor of a tech and capital-friendly research agenda, and a system controlled by a wealthy minority.<ref>{{cite web |title=Is the effective altruism movement in trouble? {{!}} Olúfẹ́mi O Táíwò and Joshua Stein |url=https://www.theguardian.com/commentisfree/2022/nov/16/is-the-effective-altruism-movement-in-trouble |website=the Guardian |access-date=17 November 2022 |language=en |date=16 November 2022}}</ref> They also shortly criticize longtermism as a guise for tech billionnaires to develop pet projects.<ref>{{cite web |last1=Varga |first1=David |title=[Linkpost] [Summary] The Guardian: Is the effective altruism movement in trouble? (FTX related opinion piece) |url=https://forum.effectivealtruism.org/posts/efkxaQSQbBx7wpHpi/linkpost-summary-the-guardian-is-the-effective-altruism |website=forum.effectivealtruism.org |access-date=17 November 2022 |language=en}}</ref>
 
|-
 
|-
| November 16 || ? || || || Legal || The first class action lawsuit against SBF is filed, claiming that FTX violated Florida law and demanding $11 billion in damages on behalf of its customers.<ref>{{cite web |title=What Do Tom Brady, Steph Curry and Naomi Osaka Have in Common? An FTX Lawsuit. |url=https://blockworks.co/news/what-do-tom-brady-steph-curry-and-naomi-osaka-have-in-common-an-ftx-lawsuit |website=Blockworks |access-date=26 November 2022 |language=en |date=16 November 2022}}</ref>  
+
| November 16 || ? || || || Impact on users || The first class action lawsuit against SBF is filed, claiming that FTX violated Florida law and demanding $11 billion in damages on behalf of its customers.<ref>{{cite web |title=What Do Tom Brady, Steph Curry and Naomi Osaka Have in Common? An FTX Lawsuit. |url=https://blockworks.co/news/what-do-tom-brady-steph-curry-and-naomi-osaka-have-in-common-an-ftx-lawsuit |website=Blockworks |access-date=26 November 2022 |language=en |date=16 November 2022}}</ref>  
 
|-
 
|-
 
| November 16 || ? || || || Impact on the industry || Affected by the fallout of FTX's collapse, the lending division of cryptoasset manager Genesis suspends customer redemptions and new loan originations.<ref>{{cite web |title=Genesis Halts Crypto Lending, Blames 'FTX Implosion' |url=https://blockworks.co/news/genesis-halts-lending |website=Blockworks |access-date=26 November 2022 |language=en |date=16 November 2022}}</ref>
 
| November 16 || ? || || || Impact on the industry || Affected by the fallout of FTX's collapse, the lending division of cryptoasset manager Genesis suspends customer redemptions and new loan originations.<ref>{{cite web |title=Genesis Halts Crypto Lending, Blames 'FTX Implosion' |url=https://blockworks.co/news/genesis-halts-lending |website=Blockworks |access-date=26 November 2022 |language=en |date=16 November 2022}}</ref>
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| November 17 || 1:26 p.m. || Zvi || Effective Altruism Forum || FTX collapse || A post on Effective Altruism Forum provides a very extensive and comprehensive coverage of the situation as of time.<ref name="Sadly, FTX">{{cite web |title=Sadly, FTX |url=https://forum.effectivealtruism.org/posts/f9rFsbsd4rGLQfpQg/sadly-ftx |website=forum.effectivealtruism.org |access-date=20 November 2022 |language=en}}</ref>
 
| November 17 || 1:26 p.m. || Zvi || Effective Altruism Forum || FTX collapse || A post on Effective Altruism Forum provides a very extensive and comprehensive coverage of the situation as of time.<ref name="Sadly, FTX">{{cite web |title=Sadly, FTX |url=https://forum.effectivealtruism.org/posts/f9rFsbsd4rGLQfpQg/sadly-ftx |website=forum.effectivealtruism.org |access-date=20 November 2022 |language=en}}</ref>
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| November 17 || 3:15 p.m. || {{w|Elon Musk}} || Tweet || Impact on {{w|effective altruism}} || {{w|Elon Musk}} tweets: {{quote|SBF is ineffective altruism, but they thought he was saying he was in effective altruism. Easy misunderstanding.<ref>{{cite web|author={{w|Elon Musk}}|title=SBF is ineffective altruism |url=https://twitter.com/elonmusk/status/1593261525258489856 |website=Twitter |access-date=27 November 2022 |language=en|archive-url=https://web.archive.org/web/20221124111426/https://twitter.com/elonmusk/status/1593261525258489856|archive-date=November 24, 2022}}</ref>}}
 
|-
 
|-
 
| November 17 || 6:57 p.m. || FTX || Tweet || Bankruptcy || FTX Group announces having established Kroll as its claims agent, witl all official documents filed with the {{w|United States bankruptcy court}} [https://cases.ra.kroll.com/FTX/ available online].<ref>{{cite web|author=FTX |title=FTX Group has established Kroll as its claims agent |url=https://twitter.com/FTX_Official/status/1593317347703590915 |website=Twitter |access-date=17 November 2022 |language=en|archive-url=https://web.archive.org/web/20221117202025/https://twitter.com/FTX_Official/status/1593317347703590915|archive-date=November 17, 2022}}</ref>
 
| November 17 || 6:57 p.m. || FTX || Tweet || Bankruptcy || FTX Group announces having established Kroll as its claims agent, witl all official documents filed with the {{w|United States bankruptcy court}} [https://cases.ra.kroll.com/FTX/ available online].<ref>{{cite web|author=FTX |title=FTX Group has established Kroll as its claims agent |url=https://twitter.com/FTX_Official/status/1593317347703590915 |website=Twitter |access-date=17 November 2022 |language=en|archive-url=https://web.archive.org/web/20221117202025/https://twitter.com/FTX_Official/status/1593317347703590915|archive-date=November 17, 2022}}</ref>
 
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| November 19 || 4:00 p.m. || Alexander Osipovich , Caitlin Ostroff , Patricia Kowsmann , Angel Au-Yeung and Matt Grossman || Article || || An article is published at {{w|The Wall Street Journal}}, describing the lives of the people who ran FTX. The article describes the firm as an unruly agglomeration of corporate entities, customer assets and SBF himself, with neither accounting nor functioning human-resources departments.<ref name="Wall Street Article">{{cite web |last1=Grossman |first1=Alexander Osipovich, Caitlin Ostroff, Patricia Kowsmann, Angel Au-Yeung and Matt |title=They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire |url=https://www.wsj.com/articles/sam-bankman-fried-ftx-alameda-bankruptcy-collapse-11668824201 |website=WSJ |access-date=24 November 2022}}</ref>
+
| November 17 || 10:37 p.m. || John Hyatt || Article || Impact on {{w|effective altruism}} || John Hyatt at ''{{w|Forbes}}'' publishes an article addressing the groups associated with {{w|effective altruism}}, who are tied to millions of dollars that could be clawed back in bankruptcy proceedings, according to restructuring lawyers. Brooklyn Law School bankruptcy law professor Edward Janger is quoted saying: {{quote|To the extent that any FTX entities transferred funds to the foundation while insolvent, the creditors of those entities in the bankruptcy may be able to assert fraudulent conveyance claims to recover those funds.}} and {{quote|Yes, the charities should be worried.}} The article continues describing the upheaval the FTX scandal caused on the EA movement.<ref>{{cite web |last1=Hyatt |first1=John |title=Sam Bankman-Fried’s Donations To Effective Altruism Nonprofits Tied To An Oxford Professor Are At Risk Of Being Clawed Back |url=https://www.forbes.com/sites/johnhyatt/2022/11/17/disgraced-crypto-trader-sam-bankman-fried-was-a-big-backer-of-effective-altruism-now-that-movement-has-a-big-black-eye/?sh=5e3515a64ce7 |website=Forbes |access-date=27 November 2022 |language=en}}</ref>
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| November 18 || ? || || || Background || {{w|Theranos}} CEO {{w|Elizabeth Holmes}} is sentenced to 11 years in prison.<ref>{{cite web |title=Elizabeth Holmes sentenced to 11 years in prison for Theranos scam |url=https://www.lemonde.fr/en/international/article/2022/11/19/elizabeth-holmes-gets-more-than-11-years-in-prison-for-theranos-scam_6004839_4.html#:~:text=A%20federal%20judge%20on%20Friday,culture%20of%20audacious%20self%2Dpromotion. |website=Le Monde.fr |access-date=27 November 2022 |language=en |date=19 November 2022}}</ref>
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| November 19 || 4:00 p.m. || Alexander Osipovich, Caitlin Ostroff , Patricia Kowsmann , Angel Au-Yeung and Matt Grossman || Article || Team || An article is published at {{w|The Wall Street Journal}}, describing the lives of the people who ran FTX. The article describes the firm as an unruly agglomeration of corporate entities, customer assets and SBF himself, with neither accounting nor functioning human-resources departments.<ref name="Wall Street Article">{{cite web |last1=Grossman |first1=Alexander Osipovich, Caitlin Ostroff, Patricia Kowsmann, Angel Au-Yeung and Matt |title=They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire |url=https://www.wsj.com/articles/sam-bankman-fried-ftx-alameda-bankruptcy-collapse-11668824201 |website=WSJ |access-date=24 November 2022}}</ref>
 
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| November 21 || 1:47 a.m. || Tyler Whitmer || Effective Altruism Forum || Impact on {{w|effective altruism}} || Tyler Whitmer publishes a highly upvoted and commented post on the Effective Altruism Forum discussing the pros and cons of talking publicly about SBF/FTX for effective altruism. Whitmer suggests ther would be very few declarations about the FTX/SBF fiasco from any EA public figures or institutions, and suggests it would be best for effective altruists not to comment on the FTX/SBF situation, and not just for their own sake.<ref>{{cite web |last1=Whitmer |first1=Tyler |title=The relative silence on FTX/SBF is likely the result of sound legal advice |url=https://forum.effectivealtruism.org/posts/eWYQwbX895HnyuhhY/the-relative-silence-on-ftx-sbf-is-likely-the-result-of |website=forum.effectivealtruism.org |access-date=23 November 2022 |language=en}}</ref>
 
| November 21 || 1:47 a.m. || Tyler Whitmer || Effective Altruism Forum || Impact on {{w|effective altruism}} || Tyler Whitmer publishes a highly upvoted and commented post on the Effective Altruism Forum discussing the pros and cons of talking publicly about SBF/FTX for effective altruism. Whitmer suggests ther would be very few declarations about the FTX/SBF fiasco from any EA public figures or institutions, and suggests it would be best for effective altruists not to comment on the FTX/SBF situation, and not just for their own sake.<ref>{{cite web |last1=Whitmer |first1=Tyler |title=The relative silence on FTX/SBF is likely the result of sound legal advice |url=https://forum.effectivealtruism.org/posts/eWYQwbX895HnyuhhY/the-relative-silence-on-ftx-sbf-is-likely-the-result-of |website=forum.effectivealtruism.org |access-date=23 November 2022 |language=en}}</ref>
 
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|-
| November 22 || 10:33 p.m. || {{w|Sam Bankman-Fried}} || Letter || || Finance journalist Liz Hoffman tweets screenshots of a new letter that SBF shared with FTX employees on the same day, apologizing again and sharing a list of collateral and liabilities. His opening line states that he feels “deeply sorry about what happened.” He also says “maybe there still is a chance to save the company.”<ref>{{cite web |title=Letter SBF sent today to FTX employees h/t |url=https://twitter.com/lizrhoffman/status/1595183732989779970 |website=Twitter |access-date=26 November 2022 |language=en|archive-url=https://web.archive.org/web/20221124140045/https://twitter.com/lizrhoffman/status/1595183732989779970|archive-date=November 24, 2022}}</ref>  
+
| November 22 || 3:41 p.m. || Lucas Nuzzi || Tweet || Financial (FTX-Alameda connection) || Lucas Nuzzi starts a new Twitter thread providing some answers on how Alameda Research lost billions of dollars of FTX user funds. Among the answers, Nuzzi mentions directionally wrong trades; likely leveraged DeFi lending markets, esp. stablecoin-denominated; and cross-chain bridges, either hacked or their native tokens becoming worthless; all mechanisms through which Alameda might have lost considerable amounts of user funds.<ref>{{cite web |title=How did Alameda manage to lose billions of dollars of FTX user funds? |url=https://twitter.com/LucasNuzzi/status/1595080029716750340 |website=Twitter |access-date=6 December 2022 |language=en|archive-url=https://web.archive.org/web/20221122170427/https://twitter.com/LucasNuzzi/status/1595080029716750340|archive-date=November 22, 2022}}</ref>
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| November 22 || 4:00 p.m. || || || Bankruptcy || A hearing on the First Day Motions (“First Day Hearing”) is held at 11:00 a.m before judge John T. Dorsey in the United States Bankruptcy Court for the District of Delaware.<ref name="restructuring.ra.kroll"/> The first-day motion requests focus on the company's assets, debts, and the location of the bankruptcy case. FTX has 36 banks and more than 200 bank accounts, and the group of companies employed over 500 people, primarily in the United States. According to FTX counsel James Bromley, a "substantial amount" of the company's assets have either been stolen or are missing. FTX brings on investment banking advisory firm Perella Weinberg to help maximize the value of its remaining viable assets. The company owes money to a range of parties, including banks, trading firms, and other cryptocurrency exchanges.<ref>{{cite web |title=FTX Liquidators in Bahamas Move Case From New York to Delaware |url=https://www.pymnts.com/cryptocurrency/2022/ftx-liquidators-in-bahamas-move-case-from-new-york-to-delaware/ |website=www.pymnts.com |access-date=30 December 2022 |date=22 November 2022}}</ref>
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 +
| November 22 || 6:51 p.m. || Koh Gui Qing || Article || || An article at {{w|Reuters}} reports on FTX and SBF, along with other senior executives and SBF's parents, having purchased at least 19 properties worth nearly $121 million in the Bahamas over the past two years. Attorneys for FTX also claim that one of the company's units spent $300 million in the Bahamas buying homes and vacation properties for its senior staff, and that FTX was run as a "personal fiefdom" by SBF.<ref>{{cite web |last1=Qing |first1=Koh Gui |title=Bankman-Fried's FTX, senior staff, parents bought Bahamas property worth $300 mln |url=https://www.reuters.com/technology/exclusive-bankman-frieds-ftx-parents-bought-bahamas-property-worth-121-mln-2022-11-22/ |website=Reuters |access-date=29 December 2022 |language=en |date=22 November 2022}}</ref>
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| November 22 || 10:33 p.m. || {{w|Sam Bankman-Fried}} || Letter || SBF apology || Finance journalist Liz Hoffman tweets screenshots of a new letter that SBF shared with FTX employees on the same day, apologizing again and sharing a list of collateral and liabilities. His opening line states that he feels “deeply sorry about what happened.” He also says “maybe there still is a chance to save the company.”<ref>{{cite web|author=Liz Hoffman|title=Letter SBF sent today to FTX employees h/t |url=https://twitter.com/lizrhoffman/status/1595183732989779970 |website=Twitter |access-date=26 November 2022 |language=en|archive-url=https://web.archive.org/web/20221124140045/https://twitter.com/lizrhoffman/status/1595183732989779970|archive-date=November 24, 2022}}</ref>  
 
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|-
 
| November 23 || 10:54 p.m. || Rethink Priorities || Effective Altruism Forum || Impact on {{w|effective altruism}} || Lead members of effective altruist organization Rethink Priorities publish a post expressing their statement on the FTX crisis, and its impact on the non-profit and the EA space.<ref>{{cite web |last1=Wildeford |first1=Peter |title=Rethink Priorities’ Leadership Statement on the FTX situation |url=https://forum.effectivealtruism.org/posts/rxojcFfpN88YNwGop/rethink-priorities-leadership-statement-on-the-ftx-situation |website=forum.effectivealtruism.org |access-date=24 November 2022 |language=en}}</ref>
 
| November 23 || 10:54 p.m. || Rethink Priorities || Effective Altruism Forum || Impact on {{w|effective altruism}} || Lead members of effective altruist organization Rethink Priorities publish a post expressing their statement on the FTX crisis, and its impact on the non-profit and the EA space.<ref>{{cite web |last1=Wildeford |first1=Peter |title=Rethink Priorities’ Leadership Statement on the FTX situation |url=https://forum.effectivealtruism.org/posts/rxojcFfpN88YNwGop/rethink-priorities-leadership-statement-on-the-ftx-situation |website=forum.effectivealtruism.org |access-date=24 November 2022 |language=en}}</ref>
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| November 23 || ? || {{w|Cathie Wood}} || Interview || Notable comment || [[W:Bloomberg News|Bloomberg]] publishes interview with {{w|Ark Invest}} CEO {{w|Cathie Wood}}, who reiterates her optimism on crypto assets in the wake of FTX's collapse. Wood says: {{quote|I think the thing that is shocking is how many people were very close to [Sam Bankman-Fried]... the fact that so many people were completely fooled is quite shocking. You know, I think he had this aura around him or something that caused people to ask fewer questions than might otherwise been the case. It's very hard to understand.<ref>{{cite web |title=Cathie Wood on FTX, Crypto, Elon Musk, Fed Policy |url=https://www.youtube.com/watch?v=v3az_Z3E0MY |website=Cathie Wood on FTX, Crypto, Elon Musk, Fed Policy |access-date=4 December 2022 |language=en}}</ref><ref>{{cite web |last1=Rosen |first1=Phil |title=Cathie Wood breaks down FTX, Elon Musk, and Twitter in a new interview. Here are her 9 best quotes. |url=https://www.businessinsider.com/cathie-wood-ftx-elon-musk-tesla-twitter-best-quotes-markets-2022-11 |website=Business Insider |access-date=4 December 2022}}</ref>}}
 
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| November 24 || 10:30 a.m. || Rachel Louise Ensign, Ben Cohen || Article || Impact on {{w|effective altruism}} || Rachel Louise Ensign and Ben Cohen at ''{{w|The Wall Street Journal}}'' publish an article on SBF pledge to donate billions to philanthropy.<ref name="Cohen">{{cite web |last1=Cohen |first1=Rachel Louise Ensign and Ben |title=Sam Bankman-Fried Said He Would Give Away Billions. Broken Promises Are All That’s Left. |url=https://www.wsj.com/articles/sam-bankman-frieds-plans-to-save-the-world-went-down-in-flames-11669257574?mod=e2tw |website=WSJ |access-date=25 November 2022}}</ref>
 
| November 24 || 10:30 a.m. || Rachel Louise Ensign, Ben Cohen || Article || Impact on {{w|effective altruism}} || Rachel Louise Ensign and Ben Cohen at ''{{w|The Wall Street Journal}}'' publish an article on SBF pledge to donate billions to philanthropy.<ref name="Cohen">{{cite web |last1=Cohen |first1=Rachel Louise Ensign and Ben |title=Sam Bankman-Fried Said He Would Give Away Billions. Broken Promises Are All That’s Left. |url=https://www.wsj.com/articles/sam-bankman-frieds-plans-to-save-the-world-went-down-in-flames-11669257574?mod=e2tw |website=WSJ |access-date=25 November 2022}}</ref>
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| November 25 || 3:02 p.m. || Robert Wiblin || Effective Altruism Forum post || Impact on {{w|effective altruism}} || Robert Wiblin at the Effective Altruism Forum publishes a post discussing SBF and his views on expected value and risk aversion in giving. Wiblin also clarifies his own position on diminishing returns and risk aversion in giving, after an April interview to SBF resurfaces with the FTX crisis. Wiblin discusses the concept of expected value and risk aversion in philanthropy, specifically in relation to large-scale giving. He agrees with the idea that returns to additional money become sublinear at larger scales, which suggests a need for risk aversion, especially in more niche cause areas and when considering giving on a scale of billions rather than millions of dollars. However, the writer also notes that there are practical considerations, such as the potential harm to organizations and individuals who depend on a known minimum level of funding, that may also weigh in favor of risk aversion. Wiblin also clarifies that their original description of this concept may have been oversimplified and potentially erroneous.<ref>{{cite web |title=Clarifications on diminishing returns and risk aversion in giving |url=https://forum.effectivealtruism.org/posts/THgezaPxhvoizkRFy/clarifications-on-diminishing-returns-and-risk-aversion-in |website=forum.effectivealtruism.org |access-date=1 December 2022 |language=en}}</ref>
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| November 26 || 6:39 a.m. || Tiffany Fong || Blog post || SBF interview || Tiffany Fong publishes her first post on Substack describing her phone calls with SBF.<ref>{{cite web |last1=Fong |first1=Tiffany |title=My Phone Calls with Sam Bankman-Fried, Former CEO of FTX |url=https://tiffanyfong.substack.com/p/my-phone-calls-with-sam-bankman-fried |website=tiffanyfong.substack.com |access-date=30 November 2022 |language=en}}</ref> The call would be published on Youtube on November 29. SBF confesses {{quote|I'm much more worried about the damage that I did to that than whatever happens to me personally.<ref>{{cite web |title=Sam Bankman-Fried Interview: $8 billion hole, CZ Binance, Customer Funds, Run on the Bank |url=https://www.youtube.com/watch?v=xP54LZB3WRw&t=691s |website=youtube.com |access-date=12 December 2022 |language=en}}</ref>}} The interview would be covered on the Effective Altruism Forum.<ref>{{cite web |last1=Chan |first1=Timothy |title=SBF interview with Tiffany Fong |url=https://forum.effectivealtruism.org/posts/TWv9GnKkGBbu3gbPX/sbf-phone-interviews-tiffany-fong |website=forum.effectivealtruism.org |access-date=12 December 2022 |language=en}}</ref>
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| November 28 || || || || Impact on the industry || Digital asset lender BlockFi files for bankruptcy, citing exposure to FTX, which is listed as BlockFi’s second creditor in importance.<ref>{{cite web |last1=Lang |first1=Hannah |last2=Nishant |first2=Niket |last3=Saini |first3=Manya |title=Crypto lender BlockFi files for bankruptcy, cites FTX exposure |url=https://www.reuters.com/technology/crypto-lender-blockfi-files-bankruptcy-protection-2022-11-28/ |website=Reuters |access-date=17 December 2022 |language=en |date=29 November 2022}}</ref>
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| November 28 || || Ryan Pinder || National statement || Bankruptcy || The Bahamian government severely criticizes John J. Ray III for his statements made in US bankruptcy proceedings. In a national statement, Bahamas Attorney General Ryan Pinder says that such statements made by Ray were “regrettable”, that “it is possible that the prospect of multimillion dollar legal and consultant fees is driving both their legal strategy and the intemperate statements,” and “In any case, we urge prudence and accuracy in all future filings,” he adds.<ref>{{cite web |title=FTX Tensions Intensify as Bahamas Blasts Company’s New Chief Ray |url=https://www.bloomberg.com/news/articles/2022-11-28/ftx-tensions-intensify-as-bahamas-blasts-company-s-new-chief-ray?leadSource=uverify+wall |website=Bloomberg.com |access-date=7 December 2022 |language=en |date=28 November 2022}}</ref><ref>{{cite web |title=National Address with respect to the FTX Collapse - Sen. The Hon. Ryan Pinder KC, Attorney General |url=https://www.youtube.com/watch?v=ZFTJliFl5Fo |website=youtube.com |access-date=7 December 2022 |language=en}}</ref>
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| November 29 || 4:26 p.m. || Tiffany Fong || Tweet/Youtube || SBF interview || Tiffany Fong publishes an audio from her first interview with SBF, who talks about bankruptcy, the alleged “backdoor,” donations to the Democratic Party, Ukraine money laundering rumors, the hack, Alameda’s margin position on FTX, and using FTT as collateral, among other topics.<ref>{{cite web|author=Tiffany Fong
 +
|title=Audio from my first interview with Sam Bankman-Fried |url=https://twitter.com/TiffanyFong_/status/1597627998626160640?cxt=HHwWgICl1eeM9assAAAA |website=Twitter |access-date=3 December 2022 |language=en|archive-url=https://web.archive.org/web/20221203054819/https://twitter.com/TiffanyFong_/status/1597627998626160640?cxt=HHwWgICl1eeM9assAAAA|archive-date=December 3, 2022}}</ref>
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| November 29 || ? || Spencer Greenberg || Podcast || Notable comment || Spencer Greenberg in his podcast Clearer Thinking publishes a podcast discussing several aspects of the FTX collpase in interviews with a number of experts: newsletter writer Byrne Hobart; Maomao Hu, a ablockchain, fintech, and AI entrepreneur; Marcus Abramovich, a managing partner at a cryptocurrency hedge fund and involved in effective altruism causes; programmer and researcher Ozzie Gooen; and Vipul Naik, a PhD providing mathematical concepts in order to analize the magnitude of monetary damage caused by FTX.<ref name=clearerthinkingpodcast>{{cite web |last1=Greenberg |first1=Spencer |title=Episode 133: The FTX catastrophe (with Byrne Hobart, Vipul Naik, Maomao Hu, EA activist Marcus Abramovich, and Ozzie Gooen) |url=https://clearerthinkingpodcast.com/episode/133 |website=Clearer Thinking with Spencer Greenberg |access-date=3 December 2022 |language=en}}</ref>
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|-
 +
| November 30 || || {{w|Sam Bankman-Fried}} || Interview || SBF interview || SBF gives an interview to ABC News in which he denies knowing about any "improper use of customer funds" and accepts responsibility for the collapse of both companies. SBF acknowledges that he failed to have proper oversight and management in place, which led to the crash of FTX. He also denies reports of illegal drug use by FTX employees and says that he and Caroline Ellison were not in a polyamorous relationship. SBF says his focus is now on working through regulatory and legal processes and trying to make up for the harm caused.<ref>{{cite web |last1=News |first1=A. B. C. |title=FTX crypto collapse: Ex-CEO Sam Bankman-Fried denies 'improper use' of customer funds |url=https://abcnews.go.com/US/ftx-crypto-collapse-ceo-sam-bankman-fried-denies/story?id=94215046 |website=ABC News |access-date=29 December 2022 |language=en}}</ref><ref>{{cite web |last1=Morrow |first1=Allison |title=Sam Bankman-Fried says he 'got a little cocky' before FTX collapsed {{!}} CNN Business |url=https://edition.cnn.com/2022/12/01/business/sbf-interview-gma/index.html |website=CNN |access-date=29 December 2022 |language=en |date=1 December 2022}}</ref>
 +
|-
 +
| November 30 || 8:12 p.m. || || || Impact on {{w|effective altruism}} || An article at CNBC reports on a UK charity backed by SBF raising concerns about its future with the Charity Commission for England and Wales, following the collapse of FTX. SBF had donated millions of dollars to the charity and had pledged to donate billions more. The charity, the Effective Ventures Foundation (formerly the Centre for Effective Altruism), filed a "serious incident report" with the commission, which is required to be filed in certain circumstances, including the "loss of your charity’s money or assets" or "harm to your charity’s work or reputation".<ref>{{cite web |last1=Schwartz |first1=Brian |title=UK charity backed by disgraced crypto kingpin Sam Bankman-Fried sounds alarm to British regulators after FTX collapse |url=https://www.cnbc.com/2022/11/30/sam-bankman-fried-backed-charity-sounds-alarm-to-uk-regulators-after-ftx-collapse.html |website=CNBC |access-date=29 December 2022 |language=en}}</ref> The report is discussed on the Effective Altruism Forum, in a highly commented post.<ref>{{cite web |title=CEA “serious incident report”? |url=https://forum.effectivealtruism.org/posts/erYvs4tLwnNCopBxg/cea-serious-incident-report |website=forum.effectivealtruism.org |access-date=29 December 2022 |language=en}}</ref>
 +
|-
 +
| December 1 || circa 1 a.m. || {{w|Sam Bankman-Fried}} || Interview || SBF interview || An interview with SBF at The New York Times’s DealBook Summit is published on <code>nytimes.com</code>.<ref>{{cite web |title=Sam Bankman-Fried Interviewed Live About the Collapse of FTX |url=https://www.youtube.com/watch?v=IyoGdwVIwWw |website=youtube.com |access-date=1 December 2022 |language=en}}</ref> Among his announcements, he says he “didn’t knowingly commingle” FTX customer funds, he denies he had knowingly committed fraud, he says that he did not realize what a dangerous position the firms were in, and he admits that big mistakes were made.<ref>{{cite web |last1=Sorkin |first1=Andrew Ross |last2=Mattu |first2=Ravi |last3=Warner |first3=Bernhard |last4=Gandel |first4=Stephen |last5=Kessler |first5=Sarah |last6=Hirsch |first6=Lauren |last7=Livni |first7=Ephrat |title=What We Learned From Sam Bankman-Fried, Mark Zuckerberg, Reed Hastings and More |url=https://www.nytimes.com/2022/12/01/business/dealbook/sam-bankman-fried-mark-zuckerberg-reed-hastings-sbf-summit.html |website=The New York Times |access-date=10 December 2022 |date=1 December 2022}}</ref>
 +
|-
 +
| December 1 || || Gideon Lewis-Kraus || Article || Impact on {{w|effective altruism}} || Gideon Lewis-Kraus publishes an article at ''{{w|The New Yorker}}'', focusing on the damaging impact SBF has made on effective altruism. Lewis-Kraus writes: {{quote|Some observers have argued that this scandal will be good for E.A., because their compromised institutions might die off such that their ideals will flourish elsewhere.<ref>{{cite web |last1=Nast |first1=Condé |title=Sam Bankman-Fried, Effective Altruism, and the Question of Complicity |url=https://www.newyorker.com/news/annals-of-inquiry/sam-bankman-fried-effective-altruism-and-the-question-of-complicity |website=The New Yorker |access-date=10 December 2022 |date=1 December 2022}}</ref>}}
 +
|-
 +
| December 4 || 6:10 p.m. || Autism Capital, {{w|Caroline Ellison}} || Tweet || Team || Autism Capital tweets an unverified photo purportedly showing {{w|Caroline Ellison}} making an order at a cafe in {{w|SoHo, Manhattan}}.<ref>{{cite web |title=Caroline Ellison at Ground Support Coffee |url=https://twitter.com/AutismCapital/status/1599466158893432832 |website=Twitter |access-date=14 December 2022 |language=en|archive-url=https://web.archive.org/web/20221209202809/https://twitter.com/AutismCapital/status/1599466158893432832|archive-date=December 9, 2022}}</ref> She is seen next to a dog that others on Twitter would claim is the Goldendoodle “Gopher” who lived with SBF and FTX employees at their Bahamas penthouse.<ref>{{cite web |title=Photos on Twitter appear to show former Caroline Ellison in New York City, prompting speculation of FTX-linked plea deal |url=https://fortune.com/crypto/2022/12/05/caroline-ellison-ftx-alameda-research-soho-ground-support-cafe/ |website=Fortune |access-date=14 December 2022 |language=en}}</ref> 
 +
|-
 +
| December 4 || || {{w|Sam Bankman-Fried}},  Coffeezilla || || SBF interview || During a Twitter Spaces interview, SBF is questioned by YouTube star Stephen Findeisen (also known as "Coffeezilla") about the way that FTX was handling client assets. Findeisen implies that FTX should have been keeping the funds of users who had signed up for different terms of service and risk levels separate in case of a crash. SBF admits that the exchange was "treating them differently," but does not provide a clear explanation for why some client assets no longer existed on the exchange. He states that FTX had processed $5-6 billion in withdrawals over a few days during a crash, but users were unable to cash out on falling currencies due to the company's bankruptcy. Bankman-Fried claimed that all clients were treated equally, despite the fact that they had signed up for different risk levels. It is unclear how funds from the exchange and other ventures, such as trading firm Alameda Research, were separated, and some users were left without access to their funds.<ref>{{cite web |title=Coffeezilla claims FTX founder Sam Bankman-Fried admitted “fraud” in interview |url=https://www.dexerto.com/entertainment/coffeezilla-claims-ftx-founder-sam-bankman-fried-admitted-fraud-in-interview-2005507/ |website=Dexerto |access-date=29 December 2022 |language=en}}</ref><ref>{{cite web |title=I Accidentally Interviewed SBF And He Hated It |url=https://www.youtube.com/watch?v=AfmBdKoqq1o |website=youtube.com |access-date=29 December 2022 |language=en}}</ref>
 +
|-
 +
| December 6 || || {{w|Sam Bankman-Fried}}, Mark Cohen || || Legal || SBF hires high-profile defense lawyer Mark Cohen to represent him in ongoing investigations by federal prosecutors and the Securities and Exchange Commission (SEC). By this time, he has already given numerous interviews in which he has described his actions as potentially stupid but not criminal.<ref>{{cite web |last1=Alpher |first1=Stephen |title=Sam Bankman-Fried Hires Mark Cohen as His Attorney: Reuters |url=https://www.coindesk.com/business/2022/12/06/sam-bankman-fried-hires-mark-cohen-as-his-attorney-reuters/ |website=www.coindesk.com |access-date=28 December 2022 |language=en |date=6 December 2022}}</ref>
 +
|-
 +
| December 6 || || {{w|Sam Bankman-Fried}} || Interview || SBF interview || An interview with SBF is published at The Daily Beast. SBF discusses his legal and media strategy, his relationships with his brother and mentor, his "earn to give" philosophy, and his assertion that he was secretly a Republican mega-donor. He also discusses the possibility of going to jail and his desire to be helpful when he testifies before Congress. SBF denies that there was a partying culture at FTX and says that he is not a perfect person but that he wants to speak the truth.<ref>{{cite web |title=The Confessions of S.B.F. |url=https://puck.news/sam-bankman-fried-sbf-interview/ |website=Puck |access-date=28 December 2022 |date=6 December 2022}}</ref>
 +
|-
 +
| December 7 || 8:15 p.m. || whalechart.org || Tweet || Impact on the public || According to a WhaleChart tweet: {{quote|Just 8% of Americans have a positive view of cryptocurrencies now, CNBC survey finds. Down from 19% in March.<ref>{{cite web |title=Just 8% of Americans have a positive view of cryptocurrencies now |url=https://twitter.com/WhaleChart/status/1600584773646356487 |website=Twitter |access-date=14 December 2022 |language=en|archive-url=https://web.archive.org/web/20221214030754/https://twitter.com/WhaleChart/status/1600584773646356487|archive-date=December 14, 2022}}</ref>}}
 +
|-
 +
| December 12 || || || || SBF arrest || SBF is arrested in the Bahamas, after [[w:Damian Williams (lawyer)|Damian Williams]], the {{w|United States Attorney for the Southern District of New York}}, shares a sealed indictment with the Bahamian government.<ref>{{cite web |last1=Goswami |first1=MacKenzie Sigalos,Rohan |title=FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges |url=https://www.cnbc.com/2022/12/12/ftx-founder-sam-bankman-fried-arrested-in-the-bahamas-after-us-files-criminal-charges.html |website=CNBC |access-date=14 December 2022 |language=en}}</ref>
 +
|-
 +
| December 13 || 0:50 a.m. || Dylan Matthews || Article || Impact on {{w|effective altruism}} || An article at ''[[w:Vox (website)|Vox]]'' by Dylan Matthews attributes philosophical errors by the effective altruist movement to the FTX collapse. He describes SBF as a "hardcore, pure, uncut" Benthamite utilitarian, and argues that SBF's apparent engagement in extreme misconduct may be due to his belief in utilitarianism and effective altruism, and that his colleagues at FTX and Alameda Research may have gone along with the plan for the same reasons. The author suggests that the idea of maximizing "the good" in effective altruism is problematic because it is difficult to define or measure and there are disagreements about it within the movement.<ref>{{cite web |last1=Matthews |first1=Dylan |title=How effective altruism let Sam Bankman-Fried happen |url=https://www.vox.com/future-perfect/23500014/effective-altruism-sam-bankman-fried-ftx-crypto |website=Vox |access-date=28 December 2022 |language=en |date=12 December 2022}}</ref> The article is discussed at the Effective Altruism Forum, in which Richard Y Chappell agrees with the criticism in the article that the culture of effective altruism is immature and needs to become more risk-averse and adopt practices used by more mature philanthropic institutions. However, the reviewer disagrees with the suggestion that the problem is the dominance of philosophy within the movement and instead argues that the problem is a lack of respect for established institutional guardrails and a culture of consulting with more senior advisers who understand how institutions work. Chappell suggests that what the effective altruism movement needs is people with more institutional experience and a better division of labor between philosophy and policy.<ref>{{cite web |last1=Chappell |first1=Richard Y. |title=Reflections on Vox's "How effective altruism let SBF happen" |url=https://forum.effectivealtruism.org/posts/M6ebKkRos2nQe9gqG/reflections-on-vox-s-how-effective-altruism-let-sbf-happen |website=forum.effectivealtruism.org |access-date=28 December 2022 |language=en}}</ref>
 +
|-
 +
| December 13 || || {{w|Sam Bankman-Fried}} || || Legal ([[w:Defense (legal)|defense]]) || A leaked copy of SBF testimony is obtained by Forbes. Being arrested by authorities in the Bahamas on the previous night to his testification before the {{w|United States Congress}}, the unpresented testimony apparently places blame for the failure of FTX on everyone but SBF. In the testimony, he claims that the US-based entity, FTX.US, was still "fully solvent" despite being included in a [[w:Chapter 11, Title 11, United States Code|Chapter 11 bankruptcy filing]] on November 11. He also places blame on John J. Ray III, the restructuring lawyer who took over as FTX CEO after the filing, and the bankruptcy law firm Sullivan & Cromwell. SBF also accuses the general counsel for FTX.US, Ryne Miller, and Binance CEO Changpeng Zhao of contributing to the failure of FTX.<ref>{{cite web |last1=Ehrlich |first1=Steven |title=Exclusive Transcript: The Full Testimony Bankman-Fried Planned To Give To Congress |url=https://www.forbes.com/sites/stevenehrlich/2022/12/13/exclusive-transcript-the-full-testimony-sbf-planned-to-give-to-congress/ |website=Forbes |access-date=29 December 2022 |language=en}}</ref><ref>{{cite web |title=SBF planned to blame everyone but himself, shows leaked Congress testimony |url=https://cointelegraph.com/news/sbf-planned-to-blame-everyone-but-himself-shows-leaked-congress-testimony |website=Cointelegraph |access-date=29 December 2022 |language=en}}</ref><ref>{{cite web |title=SBF was arrested before a pivotal congressional hearing on FTX’s monumental collapse. Here’s how to watch and what to expect |url=https://fortune.com/crypto/2022/12/13/sbf-arrested-congress-hearing/ |website=Fortune |access-date=29 December 2022 |language=en}}</ref>
 +
|-
 +
| December 13 || || {{w|John J. Ray III}} || || Bankruptcy || {{w|John J. Ray III}} testifies on the collapse of FTX, attributing a number of reasons including it being run by "a very small group of grossly inexperienced and unsophisticated individuals."<ref>{{cite web |last1=Salvo |first1=Decrypt / Mat Di |title='Grossly Inexperienced and Unsophisticated' Leadership Caused FTX Collapse, Says New CEO |url=https://decrypt.co/117021/grossly-inexperienced-unsophisticated-ftx-collapse |website=Decrypt |access-date=14 December 2022 |date=12 December 2022}}</ref><ref>{{cite web |title=FTX CEO: Collapse Was Caused By Leadership Of 'Grossly Inexperienced' Group |url=https://www.youtube.com/watch?v=MGeK9-m5hbM |website=youtube.com |access-date=14 December 2022 |language=en}}</ref> See [https://financialservices.house.gov/uploadedfiles/hhrg-117-ba00-wstate-rayj-20221213.pdf transcript].
 +
|-
 +
| December 20 || 3:00 p.m. || || || Bankruptcy || The Meeting of Creditors (“section 341 meeting”) is to be held telephonically.<ref name="restructuring.ra.kroll">{{cite web |title=Kroll Restructuring Administration |url=https://restructuring.ra.kroll.com/FTX/ |website=restructuring.ra.kroll.com |access-date=30 November 2022}}</ref>
 +
|-
 +
| December 21 || || {{w|Caroline Ellison}}, Gary Wang || || Legal || Caroline Ellison pleads guilty to seven charges, including wire, securities, and commodities fraud, as part of a [[w:Plea bargain|plea deal]] with the {{w|United States Department of Justice}}. She faces a maximum sentence of 110 years in prison and agrees to pay restitution, the amount of which would be determined by the courts. As part of her plea deal, Ellison must cooperate fully with prosecutors and provide any relevant documents, records, and evidence. Gary Wang also pleads guilty to fraud.<ref>{{cite web |title=Alameda’s Caroline Ellison escapes potential 110-year prison term via plea deal |url=https://cointelegraph.com/news/alameda-s-caroline-ellison-escapes-potentially-110-years-in-jail-via-plea-deal |website=Cointelegraph |access-date=29 December 2022 |language=en}}</ref> 
 +
|-
 +
| December 23 || || {{w|Sam Bankman-Fried}} || || SBF release || SBF is released on a $250 million bond package while awaiting trial.<ref>{{cite web |last1=Cohen |first1=Luc |last2=Godoy |first2=Jody |title=FTX's Bankman-Fried, charged with 'epic' fraud, released on $250 million bond |url=https://www.reuters.com/legal/ftx-founder-bankman-fried-make-us-court-appearance-after-extradition-2022-12-22/#:~:text=NEW%20YORK%2C%20Dec%2022%20(Reuters,%22fraud%20of%20epic%20proportions.%22 |website=Reuters |access-date=29 December 2022 |language=en |date=23 December 2022}}</ref>
 +
|-
 +
| January 11, 2023 || 3:00 p.m. || || || Bankruptcy || A final hearing on certain of the First Day Motions is to be held at 10:00 a.m. (prevailing Eastern Time).<ref name="restructuring.ra.kroll"/>
 
|-
 
|-
 
|}
 
|}
  
 
== Numerical and visual data ==
 
== Numerical and visual data ==
 +
 +
=== FTX Token price ===
  
 
The chart below shows FTX Token (FTT) to USD price, approximately between November 7th and November 10th. On November 8th, seen at the center of the chart, is when most of the collapse took place.<ref>{{cite web |title=FTX Token price today, FTT to USD live, marketcap and chart |url=https://coinmarketcap.com/currencies/ftx-token/ |website=CoinMarketCap |access-date=23 November 2022 |language=en}}</ref>
 
The chart below shows FTX Token (FTT) to USD price, approximately between November 7th and November 10th. On November 8th, seen at the center of the chart, is when most of the collapse took place.<ref>{{cite web |title=FTX Token price today, FTT to USD live, marketcap and chart |url=https://coinmarketcap.com/currencies/ftx-token/ |website=CoinMarketCap |access-date=23 November 2022 |language=en}}</ref>
Line 422: Line 579:
  
  
 +
=== Manifold Markets prediction ===
  
 
The chart below shows the chance of SBF being convicted of a felony before 2026, according to prediction platform Manifold Markets.<ref name="manifold.markets"/>   
 
The chart below shows the chance of SBF being convicted of a felony before 2026, according to prediction platform Manifold Markets.<ref name="manifold.markets"/>   
Line 427: Line 585:
 
[[File:SBF convicted of a felony before 2026 likelihood.PNG|thumb|center|700px]]
 
[[File:SBF convicted of a felony before 2026 likelihood.PNG|thumb|center|700px]]
  
==Meta information on the timeline==
+
=== Google Trends ===
  
===How the timeline was built===
+
The image below shows Google Trends data for FTX (Cryptocurrency company), showing spike of interest between around November 6 and November 13.
  
The initial version of the timeline was written by [[User:Sebastian|Sebastian]].
+
[[File:FTX Google Trends.png|thumb|center|800px]]
  
{{funding info}} is available.
+
=== Wikipedia Views ===
  
===Feedback and comments===
+
The chart below shows Wikipedia Views data for FTX (company), from January to November 2022.<ref>{{cite web |title=Wikipedia Views: results |url=https://wikipediaviews.org/displayviewsformultiplemonths.php?page=FTX+%28company%29&months[0]=202211&months[1]=202210&months[2]=202209&months[3]=202208&months[4]=202207&months[5]=202206&months[6]=202205&months[7]=202204&months[8]=202203&months[9]=202202&months[10]=202201&language=en&drilldown=all |website=wikipediaviews.org |access-date=1 December 2022}}</ref>
  
Feedback for the timeline can be provided at the following places:
+
[[File:FTX Wikipedia views.PNG|thumb|center|500px]]
  
* FIXME
+
=== FTX valuation history<ref>{{cite web |title=FTX - Funding, Financials, Valuation & Investors |url=https://www.crunchbase.com/organization/ftx-exchange/investor_financials |website=Crunchbase |access-date=30 November 2022 |language=en}}</ref> ===
  
===What the timeline is still missing===
+
{| class="wikitable"
 +
! Date !! Stage !! Valuation in USD
 +
|-
 +
| 2018, January 1 || Seed Round ||
 +
|-
 +
| 2019, August 6 || Seed Round ||
 +
|-
 +
| 2019, December 20 || Corporate Round ||
 +
|-
 +
| 2021, July 20 || Series B || 18,000,000,000
 +
|-
 +
| 2021, October 21 || Series B-1 || 25,000,000,000
 +
|-
 +
| 2022, January 31 || Series C || 32,000,000,000
 +
|-
 +
| 2022, March 21 || Venture Round ||
 +
|-
 +
| 2022, November 9 || Bankruptcy || 1
 +
|-
 +
|}
  
Meta:
+
==Meta information on the timeline==
  
* [https://forum.effectivealtruism.org/topics/ftx-collapse FTX collapse topic] lists posts below the description on top; see the posts in November 2022 that are mostly related to the collapse
+
===How the timeline was built===
* [https://www.vox.com/the-goods/23451761/ftx-sam-bankman-fried-ftx-bankrupt-binance-bitcoin-alameda Vox article] links to most of the relevant events, and is worth going through.
 
* [https://twitter.com/moukon_genius/status/1591346485622640641 Tweet with a pictorial depiction of what happened]
 
  
Actual (please include multiple references to news sources discussing the tweets):
+
The initial version of the timeline was written by [[User:Sebastian|Sebastian]].
  
* Search for more info and new events here: https://twitter.com/AutismCapital
+
{{funding info}} is available.
* ✔ Add "I’m really trying to control my rage,” Kraken CEO Jesse Powell tweet.
 
  
* ✔Add row for: "On the morning of Nov. 8, Mr. Bankman-Fried sent a message to his team. He apologized for the chaos and thanked them for their efforts. It was clear the game was over,” says Nathaniel Whittemore, who was a senior marketing specialist at FTX." at [https://archive.ph/enwOk#selection-1037.0-1037.135]
+
===Feedback and comments===
* Google trends past 12 months (FTX and Alameda Research peaking on November 6)
 
* Wikipedia Views
 
  
* [https://astralcodexten.substack.com/p/open-thread-250 AstralCodexTen on the FTX collapse]
+
Feedback for the timeline can be provided at the following places:
  
* [https://www.youtube.com/watch?v=9wVMcryP6xk The timeline of FTX's collapse in November]
+
* [https://forum.effectivealtruism.org/posts/y568Gat7np8hsLXNf/timeline-of-ftx-collapse Timeline of FTX collapse linkpost on the EA Forum]
  
* [https://www.youtube.com/watch?v=xKRvgj0G7Nk CZ First Interview After FTX Collapse] -- this is useful both as its own row, and also for information that provides CZ's perspective and background context on some of the other rows. When using information from here, make sure to say something like "CZ would later claim that ..." to make it clear that the additional context is just based on CZ's version of events. (elaborate on 3:36 week ago there was a coindesk article) also for the 24hours later contact with SBF create new row and use "The evening of Nov. 7, Mr. Zhao was in his office in Dubai editing notes for his upcoming speech at a conference of global leaders in Bali when he received a message from Mr. Bankman-Fried over Signal, an encrypted messaging app, a person familiar with the matter said. The FTX CEO congratulated his rival and described Binance as the perfect buyer for FTX, the person said." from [https://archive.ph/enwOk#selection-1033.0-1033.374]
+
===What the timeline is still missing===
* [https://www.wsj.com/articles/sam-bankman-fried-ftx-alameda-bankruptcy-collapse-11668824201 WSJ article] provides more context on what happened, including some background information that wasn't public at the time; use this to add more context/color to existing rows and possibly to add new rows as well about background events that weren't public at the time; if you hit paywall, open a brand-new incognito window and search for the article title in Google Search, then click from there
 
* Elaborate on Tweet based on [https://www.youtube.com/watch?v=xKRvgj0G7Nk this interview] : As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books
 
* [https://www.forbes.com/sites/johnhyatt/2022/11/17/disgraced-crypto-trader-sam-bankman-fried-was-a-big-backer-of-effective-altruism-now-that-movement-has-a-big-black-eye/?sh=2d0bb1a14ce7 Some Of Sam Bankman-Fried's Donations To Effective Altruism Nonprofits Tied To An Oxford Professor Are At Risk Of Being Clawed Back]
 
* ✔[https://80000hours.org/2022/11/regarding-the-collapse-of-ftx/ Regarding the collapse of FTX] (official statement from 80,000 Hours)
 
 
 
=== EA Forum posts ===
 
 
 
* [https://forum.effectivealtruism.org/posts/THgezaPxhvoizkRFy/clarifications-on-diminishing-returns-and-risk-aversion-in Clarifications on diminishing returns and risk aversion in giving]
 
 
 
===Suggested updates to key actors===
 
  
* Add {{w|John J. Ray III}} (the post-bankruptcy CEO)
+
* [https://sambf.substack.com/p/ftx-pre-mortem-overview SBF's first Substack blog post], referenced at [https://nymag.com/intelligencer/2023/01/sam-bankman-fried-has-a-new-defense-strategy-blogging.html Sam Bankman-Fried Has a New Defense Strategy: Blogging]
  
 
===Timeline update strategy===
 
===Timeline update strategy===
Line 482: Line 644:
 
=== Timelines related to FTX ===
 
=== Timelines related to FTX ===
  
 +
* [[Timeline of FTX trial]]
 
* [[Timeline of FTX]]
 
* [[Timeline of FTX]]
  

Latest revision as of 12:58, 9 November 2023

This page is about a topic potentially related to FTX, Alameda Research, Sam Bankman-Fried, or the FTX Future Fund. Other content on this wiki has been compensated by the Future Fund Regranting Program that used funds from the FTX Future Fund. These funds likely came from the FTX Foundation that was funded partly or wholly by money made by FTX, Alameda Research, or Sam Bankman-Fried. As such, there is a theoretical possibility of conflict of interest.
View all pages with possible conflicts of interest due to funding from Future Fund Regranting Program | View pages work on which was to be funded by the Future Fund Regranting Program

This is a timeline of FTX collapse, considered one of the biggest collapses in the crypto ecosystem. The bankruptcy of FTX left an estimated 1 million customers and other investors facing total losses in the billions of dollars.[1]

Sample questions

The following are some interesting questions that can be answered by reading this timeline:

  • What are some notable details directly related to Sam Bankman-Fried?
    • For SBF apology statements, sort the full timeline by "Event type" and look for the group of rows with value "SBF apology".
    • For comments by SBF, sort the full timeline by "Event type" and look for the group of rows with value "SBF comment".
    • For SBF interviews, sort the full timeline by "Event type" and look for the group of rows with value "SBF interview".
    • See also "SBF net worth", "SBF reputation", "SBF arrest", and "SBF release".
  • What are some notable details on the financial status by FTX and Alameda Research?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Financial".
    • You will see a number of events describing the financial situation of the companies and the mechanisms that led to their collapse.
  • What are some details related to the bankruptcy filing by FTX and its affiliates?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Bankruptcy".
  • What are some reactions by notable peers in the cryptocurrency industry to the FTX collapse?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Industry peer reaction".
    • You will see statements by important people in the crypto industry, such as Changpeng Zhao and Vitalik Buterin.
  • What are some comments by notable people in relation to the FTX crisis?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Notable comment".
    • You will read statements by important people not in the crypto industry, such as Elon Musk and Edward Snowden.
  • What are some details describing financial rescue attempts by third parties to FTX?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Rescue attempt".
    • You will see from early warnings prior to the collapse to rescue attempts in the midst of the debacle.
  • What are some details describing the impact on users?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Impact on users".
    • You will read the names of important customers affected by the collapse of the exchange, as well as events related to stuck funds withdrawal attempts.
  • What are some events describing the impact of the FTX collapse on the effective altruist community?
    • Sort the full timeline by "Event type" and look for the group of rows with value "Impact on effective altruism".
  • What are events pointing to the overall collapse of FTX?
    • Sort the full timeline by "Event type" and look for the group of rows with value "FTX collapse".
  • Other events are described under the following types: "Background", "Contract termination", "Impact on the public", "Legal", "Official intervention", "Partnership proposal", "Partnership termination", "Prelude", "Psychopharmacology", "Security", "Unauthorized transaction", and "Tweet removal".

Big picture

Summary of background events by year

Year Development summary
1992 Sam Bankman-Fried is born.
2017 Alameda Research is founded in November.
2019 FTX is founded in May. In December, Binance invests $100 million into FTX for 20% of the firm.[2]
2020 FTX explodes in popularity.[3]
2021 FTX becomes a serious competitor to Binance, which sells its equity share (in FTX) in exchange for $2.1 billion of FTT and USD.
2022 FTX Future Fund launches in February. In November, FTX plunges into crisis.

Summary of key days

Date in 2022 Development summary
November 2 (Wednesday) CoinDesk publishes an article sharing details revealing high exposure to FTT token in the FTX balance sheet.
November 4 (Friday) Building on the CoinDesk report, a post on the Dirty Bubble Media Substack questions the solvency of FTX.
November 5 (Saturday) Nearly $600 million in FTT, the native token of FTX, is transferred from a wallet to Binance.
November 6 (Sunday) Binance CEO Changpeng Zhao announces on Twitter that his exchange is liquidating all FTX tokens.
November 7 (Monday) FTX records the largest number of withdrawal transactions in its history.
November 8 (Tuesday) FTX reaches a deal to sell itself to Binance. FTT price falls 80% (most of the drop happening after the announcement of the Binance deal) and would fail to recover.
November 9 (Wednesday) The SEC and CFTC begin investigating FTX. Binance walks back plans to acquire FTX. Instability spreads to the rest of the crypto industry.
November 10 (Thursday) FTX pauses trading on its platform. The exchange seeks $9,4 billion in rescue funds from OKX, Sequoia Capital, etc.[4] FTX assets are frozen by Bahamian regulator. Alameda stops trading.[5]
November 11 (Friday) SBF resigns. FTX files for bankruptcy. FTX US ceases processing crypto withdrawals.[6]
November 12 (Saturday) FTX is hacked for most of its remaining crypto. Unauthorized transactions are reported. Blockchain analytics firms estimate outflows between $473 million and $659 million in "suspicious circumstances". Reuters reports at least $1 billion of customer funds having vanished from the exchange.
November 13 (Sunday) Bahamian police investigate FTX whether there was any criminal misconduct in the collapse of the crypto exchange.[7]
November 14 (Monday) Golden State Warriors terminates all FTX-related promotional deals. Digital asset lender BlockFi discloses "significant exposure" to FTX.[8] 101 FTX affiliated debtors (collectively, the "Debtors") each file for bankruptcy.[9]
November 15 (Tuesday) BlockFi announces it is likely to file for bankruptcy.[10]
November 16 (Wednesday) The first class action lawsuit against SBF is filed. Crypto lender Genesis halts customer redemptions and new loan originations, blaming on FTX's collapse.
November 17 (Thursday) FTX's liquidator John J. Ray III comments: “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here."
November 18 (Friday) Bahamas regulators confirm custody of FTX assets.
November 19 (Saturday) FTX discloses in a court filing that it owes almost $3.1 billion to its top 50 creditors. It also says it could have more than one million creditors.[11]
November 20 (Sunday) FTX hacker moves 50,000 ETH to a unique address 0x866E.
November 22 (Tuesday) FTX's bankruptcy hearing begins, before judge John T. Dorsey in court.
December 12 (Monday) SBF is arrested in the Bahamas.
December 23 (Friday) SBF is released on $250 million bail.

Key actors

NOTE: Geographical locations are inferred based on place of residence and incorporation, and may not accurately reflect where the actors were at all times covered in the timeline.

Name Other names Known for Twitter handle Geographical location (timezone offset) Notes
FTX Cryptocurrency exchange, creator of FTT token @FTX_Official Bahamas (UTC-5)
Alameda Research Cryptocurrency trading firm @AlamedaResearch Hong Kong (UTC+8) The public discovery of the loans from FTX to this company (collateralized by FTT) prompted the collapse of the token and both companies.
Sam Bankman-Fried SBF FTX founder and CEO. Alameda Research co-founder and top shareholder @SBF_FTX Bahamas (UTC-5)
Caroline Ellison Alameda Research CEO @carolinecapital Hong Kong (UTC+8) She was aware of the backdoor for sending funds from FTX to Alameda Research.
Gary Wang FTX CTO Bahamas (UTC-5) He was the central figure managing the FTX codebase. It is believed that he implemented the backdoor for sending funds from FTX to Alameda Research at SBF's request.
Nishad Singh FTX Director of Engineering @Nishad__Singh Bahamas (UTC-5) According to Caroline Ellison, he was one of the four people who knew about the backdoor for sending funds from FTX to Alameda Research.
John J. Ray III FTX post-bankruptcy CEO
Binance Large cryptocurrency exchange, FTX competitor, significant holder of FTT @binance Binance's decision to sell its whole position of FTT played a big role in the collapse of the token. It attempted to rescue FTX from collapse and subsequently withdrew.
Changpeng Zhao CZ Binance CEO @cz_binance Singapore (UTC+8), Dubai (UTC+4) (for part of the time period) He played a key role in communicating Binance's decisions related to FTX through Twitter.
Elon Musk Twitter CEO @elonmusk San Francisco (UTC-8)
Sam Trabucco Former Alameda Research co-CEO @AlamedaTrabucco
Matt Levine Bloomberg columnist @matt_levine He covered the FTX crisis.
Lucas Nuzzi Head of Research and development at CoinMetrics @LucasNuzzi New York metropolitan area He analized FTX-Alameda transfers, providing early conclusions on his Twitter account.
Tiffany Fong @TiffanyFong_ She's followed on Twitter by SBF with whom she had phone calls.
Autism Capital They present themselves as "The most based citizen journalism in Crypto." @AutismCapital They follow the FTX saga on a daily basis.

Full timeline

Inclusion criteria

This timeline is focused on the FTX collapse that occurred in November 2022, and events that were directly leading up to it. The broader history of FTX will eventually be covered in the timeline of FTX.

The following are some criteria that were used to determine what rows to include in the timeline:

For events prior to November 2022:

  • We include resignations of people starting August 2022, limited to those that would later be discussed in connection with the FTX collapse.
  • We include suspicious transactions and activities starting August 2022, that would later be linked by observers to the FTX collapse.
  • We only include critical commentary prior to November 2022 if it specifically talks about the risks of FTX or Alameda being overleveraged on FTT or the possibility of loans from FTX to Alameda.

For events since November 2022:

  • We include key announcements (often in the form of articles, Substack posts, other blog posts, and tweets) that shaped the trajectory of the FTX collapse.
  • We include commentary by notable people or commentary that attracted a lot of attention. This includes commentary by journalists, finance people, and people on the Effective Altruism Forum.
  • For posts on the Effective Altruism Forum tagged FTX collapse, we determine whether a post is worth including on this forum based on criteria such as upvotes, comments, and whether the post is chronologically the first of its kind.

Timeline

Date in 2022 Time (UTC) Actor Communication method Event type Details
May 4–11 Prelude TerraUSD and Luna collapse, wiping out almost $45 billion market capitalization in one week and causing hundreds of billions in losses in the larger crypto market.[12][13][14] Overall, the collapse of Terra Luna wipes $500 billion from the crypto market.[15] A precursor of the FTX collapse, the TerraUSD and Luna crash would influence and prove the severity of the FTX and Alameda Research situation as they would find themselves short after their loans start being recalled.[16]
July 7 Rich Handler email Rescue attempt Jefferies Financial Group CEO Rich Handler writes an email to an unidentified colleague, suggesting setting up a dinner date with SBF to provide business advice. Handler writes:
Do you know Sam Bankman-Fried? He seems in over his head and could quickly be in a precarious position (...) What he is going through is not going to pass as quickly as he might wish and you can quickly become the rescuee versus the rescuer if you are not careful.

Handler would reckon he could have helped FTX.com avoid its collapse if only SBF had taken his meeting earlier in the year.[17] He would post pictures of the email on his personal Twitter account on November 9, 2022.[18]

August 24 9:16 p.m. Sam Trabucco Tweet Team (resignation) Alameda Research co-CEO Sam Trabucco announces his resignation on Twitter, leaving co-CEO Caroline Ellison as the sole CEO, and announces he will remain in the capacity of adviser. Trabucco tweets:
I guess that's about it. My time at Alameda has been the most formative of my life. I've learned how to think, I've found out how far I can push myself, and I've been gifted the incredible experience of being in the trenches with lifelong friends -- and *winning*.[19]
September 16 Rich Handler email Rescue attempt Rich Handler makes a second attempt to connect with SBF. He emails to a colleague:
I’m at the Rosewood Hotel in the Bahamas today. Do we have a smart way to see if the FTX guy wants to grab lunch? I believe he is here.[17]
Handler would be rebuffed once again. He would later tweet: “No response and no meeting/discussion.”[18] In a November 8 email to his colleague, Handler writes:
Sure looks like Sam Bankman-Fried should have taken the meeting. :)[18]
September 27 3:27 p.m. Brett Harrison Tweet Resignation FTX.US President Brett Harrison announces his resignation, with his role be replaced by Zach Dexter, the CEO of FTX's U.S. derivatives unit.[20] Harrison tweets:
I’m stepping down as President of

@FTX_Official . Over the next few months I’ll be transferring my responsibilities and moving into an advisory role at the company.[21]

After the FTX collapse, it would be found that his resignation happened one day before a massive transfer of FTT tokens occured from FTX to Alameda Research.
September 28 Financial (notable transaction) A massive transfer of 173 million FTT tokens worth over 4 billion USD occurs on this day. After the collapse of FTX in November, researcher Lucas Nuzzi would identify this transfer as a massive bailout from FTX for Alameda Research.[22]
September 30 1:44 p.m. Adam Cochran Tweet Notable transaction Adam Cochran publishes a 22-tweet thread starting with the following tweet:
So ETH OI has been overall down recently, but on FTX it's at all time highs (1.2M ETH) and in this low liquidity environment ETH has seemingly split with the macros and tried to defend aggressively around that 1200-1300 range.

That bid is often led on FTX.

Cochran concludes that someone institutional is very leveraged in a large position on FTX, likely some sort of staked ETH hedge.[23]
October 5 12:06 p.m. SBF reputation A Manifold Markets prediction is published, asking users to bet whether SBF would be convicted of a felony before 2026. Affirmative bets would skyrocket on November 8.[24]
November 2 2:44 p.m. Ian Allison, coindesk.com Article Financial An article at coindesk.com by Ian Allison shares some critical financial details from Alameda Research, revealing that its balance sheet is full of the FTT token, which is issued by the exchange that grants holders a discount on trading fees on its marketplace. It is revealed that Alameda rests on a foundation largely made up of a coin that sister company FTX invented, instead of an independent asset like a fiat currency or another crypto. Total assets totalling $14.6 billion are reported to be comprised of $5.8 billion FTT token, $1.2 billion Solana token (SOL), $3.37 billion in unidentified “crypto held,” $2 billion in “investments in equity securities”, leaving roughly $2.2 billion in assets. According to this balance sheet, Alameda only had $134 million in cash on hand in June 2022.[25][26] Regarding FTT, Alameda is found to hold far more of the tokens than traded on the market, suggesting its stake would be hard to liquidate at current prices.[27] In a post-FTX-collapse interview, Binance CEO Changpeng Zhao would recall this as the cause of Binance's decision to liquidate its stake of 23 million FTX Token (FTT) for risk management reasons, with their subsequent announcement causing a sell-off in FTT in the market.[28][29]
November 4 Dirty Bubble Media Article Financial Following the CoinDesk report, a pseudonymous crypto researcher post on the Dirty Bubble Media Substack asking if the company is insolvent. Referring to the holding of a chunk of assets in FTT, it adds: “It’s almost as if SBF found a way to hack the financial system, printing billions of dollars out of thin air against which he was able to borrow massive sums from unknown counterparties.” This post would lead to rumors spreading over the weekend[25][30][31]
November 5 2:09 p.m. Whale Alert Tweet Notable transaction Whale Alert Twitter user posts:
22,999,999 #FTT (584,818,174 USD) transferred from unknown wallet to #Binance.[32]
November 6 2:32 p.m. Caroline Ellison Tweet Financial In response to the CoinDesk article, Caroline Ellison tweets:
A few notes on the balance sheet info that has been circulating recently:

- that specific balance sheet is for a subset of our corporate entities, we have > $10b of assets that aren’t reflected there.[33]

November 6 3:47 p.m. Changpeng Zhao Tweet Industry peer reaction Changpeng Zhao tweets:
As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books.[34]
CZ compares FTT to the imploded luna token, which Binance also previously backed.[27] In the tweet thread, he says they will try to liquidate in a way that minimizes market impact, expecting a complete liquidation in a few months.[34] However, FTT’s price would start to wobble after this announcement.[27]
November 6 4:03 p.m. Caroline Ellison Tweet Financial Caroline Ellison tweets
@cz_binance if you're looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22![35]
According to a Wall Street Journal article published later, "Binance contacted her about the offer but never heard back, a person familiar with the matter said."[36]
November 6 9:49 p.m. Changpeng Zhao Tweet Industry peer reaction Changpeng Zhao tweets:
Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won't pretend to make love after divorce. We are not against anyone. But we won't support people who lobby against other industry players behind their backs. Onwards.[37]
November 6 11:28 p.m. Sam Bankman-Fried Tweet Financial SBF tweets declaring that FTX is solvent. Among other comments in the thread, he declares:
FTX keeps audited financials etc. And, though it slows us down sometimes on product, we're highly regulated.[38]
November 7 12:38 p.m. Sam Bankman-Fried Tweet Financial SBF posts a thread of four different tweets claiming that FTX has “enough to cover all client holdings.” He also states that the firm didn’t invest client assets and has been processing all withdrawals and “will continue to be.” Another tweet reads:
We have a long history of safeguarding client assets, and that remains true today.[39]

This thread would be removed the following day.[40]

November 7 Evening/circa 4 p.m. Sam Bankman-Fried, Changpeng Zhao Instant messaging, call Rescue attempt CZ is approached by SBF, who seeks to have Binance rescue FTX through acquisition. Sources would give divergent versions. In an interview, CZ would reveal having received a call from SBF about 24 hours after CZ communicated Binance's liquidation of its remaining FTT, with SBF confessing FTX is in big trouble, wants to protect its users, and proposes a rescue deal.[28] According to a Wall Street Journal report, CZ received a message over Signal, an encrypted messaging app, from SBF, who congratulates his rival and describes Binance as the perfect buyer for FTX.[36]
November 8 circa 2:00 a.m. FTT valuation Still affected after Binance said it would liquidate its holding in the token, FTT price falls sharply 19%, from roughly $22 to below $18 in a short time.[41] The prices of Solana and Serum, both cryptocurrencies associated with SBF, also plummet, dropping far more than the rest of the market.[42]
November 8 11:37 a.m. Impact on customers According to on-chain data, FTX appears to have stopped processing withdrawal requests, with last transaction from the exchange taking place on the Ethereum blockchain.[43][44]
November 8 Morning in Bahamas Sam Bankman-Fried SBF apology SBF sends a message to his team, apologizing for the chaos and thanking them for their efforts. Days later, according to FTX senior marketing specialist, "it was clear the game was over”.[36]
November 8 4:03 p.m. Sam Bankman-Fried Tweet Rescue attempt SBF tweets a thread announcing plan to sell FTX.com (its non-U.S. business) to Binance. He writes:
Things have come full circle, and FTX.com’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for FTX.com (pending DD etc.)
Along the tweet thread, he announces that FTX customers are protected and that the teams are working to clear out liquidity crunches.[45]
November 8 4:05 p.m. Impact on customers Tech news sites cover slow withdrawals at FTX.[44]
November 8 4:09 p.m. Changpeng Zhao Tweet Rescue attempt Binance CEO Changpeng Zhao announces that Binance has signed a non-binding agreement to buy FTX's non-US assets in order to save the competitor from a liquidity crisis that FTX actually found itself in partly through Binance's own actions, as the latter accused FTX of committing fraud with FTT tokens.[46][47] CZ tweets:
This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days.
The terms of the deal are not set in stone.[48] However, FTT token subsequently jumps 38% to almost $20 at 4:12 p.m.[49]
November 8 circa 5 p.m. – 8 p.m. FTT valuation After Binance announcement of plans to acquire FTX, but before pulling out from the deal, a massive sell-off of FTT makes it price plunge about 80%, from around $22 to below $5, wiping out more than $2 billion in a day.[50][51]
November 8 5:23 p.m. Charles He Forum post FTX collapse The first Effective Altruism Forum post about the FTX crisis is published. The Author suggests a probable relation to liquidity and solvency issues.[52]
November 8 6:57 p.m. Changpeng Zhao Tweet Industry peer reaction After agreeing to buy FTX, Changpeng Zhao pledges to implement a Proof-of-Reserve audit system to allow verification of Binance digital asset holdings and provide “full transparency” through the use of Merkle Trees — a data structure used to encode blockchain data more efficiently and securely.[53] Changpeng Zhao tweets:
All crypto exchanges should do merkle-tree proof-of-reserves.

Banks run on fractional reserves. Crypto exchanges should not.

@Binance will start to do proof-of-reserves soon. Full transparency.[54]

November 8 7:14 p.m. Coinbase, Kraken Impact in industry Amid market turbulence, Coinbase and Kraken platforms experience issues related to connectivity to the platforms and unconfirmed rumors of halted withdrawals. Complaints are posted on Twitter.[55]
November 8 7:16 p.m. Effective Altruism Forum members Tweet FTX collapse A number of Effective Altruism Forum members post a summary of key events of the FTX crisis as document with the purpose to add clarity. The authors estimate a ~90% of SBF failing in his attempt to raise funds to cover deposits.[56]
November 8 7:26 p.m. Lyn Alden Tweet Notable comment Lyn Alden, founder of Lyn Alden Investment Strategy, starts a two-tweet thread illustrating the printing of FTT token. Alden writes:
Imagine McDonald's makes its own money, let's call them clown-bucks, keeps most of it, and sells some to the market. McDonald's then uses their remaining clown-bucks as collateral for actual loans. And then people remember clown-bucks aren't real. And then Starbucks comes and market sells the clown-bucks they were holding, while reminding the market that clown-bucks aren't really a thing. McDonald's balance sheet is trashed, with their clown-bucks wiped out. Anyway, that's what happened in crypto-land this week.[57]
November 8 8:14 p.m. Dylan LeClair Tweet Impact on users UTXO Management senior analyst Dylan LeClair tweets:
Don't mean to be the bearer of bad news here, but if it isn't clear already, if you still have funds on FTX, they're gone. You're an unsecured creditor. The probable outcome is Chapter 11 & a class action lawsuit that draws out for years, where you get $0.10-$0.30 on the dollar.[58]
He also posts on the thread:
Similarly, expecting CZ to come in with billions of cash purely to make users whole does not make sense from a business perspective.[58]
November 8 8:16 p.m. Kraken Exchange Tweet Industry peer reaction Kraken Exchange in its official account on Twitter posts:
Check if the exchange you’re using undergoes Proof of Reserves audits.

ICYMI: Kraken is committed to regular audits - enabling you to verify the balances you hold on our exchange are backed by real assets.[59]

November 8 9:07 p.m. Brian Armstrong Tweet Industry peer reaction Brian Armstrong publishes a 13-tweet thread addressing the FTX crisis. Among the announcements, he states that Coinbase doesn't have any material exposure to FTX or FTT (and no exposure to Alameda). Another of his tweets reads:
I think it's important to reinforce what differentiates Coinbase in a moment like this. This event appears to be the result of risky business practices, including conflicts of interest between deeply intertwined entities, and mis-use of customer funds (lending user assets).[60]
November 8 9:25 p.m. Sam Bankman-Fried email Rescue attempt A Substack newsletter Newcomer writer publishes an email SBF sent to his investors with subject line as “FTX Update”[61], SBF apologizes over a lack of communication about the deal with Binance.[62] He writes:
I'm sorry I've been hard to contact the last few days (...) I wish I had more details for you guys right now; I don’t yet.[63][64]
November 8 10:30 pm Sam Bankman-Fried Tweet Tweet removal SBF removes his “assets are fine” thread a few hours after announcing a strategic transaction with Binance.[40]
November 8 10:42 p.m. Jeremy Allaire Tweet Industry peer reaction Jeremy Allaire, co-founder and CEO of stablecoin issuer Circle, publishes a 15-tweet thread expressing his thoughts on the FTX and Binance situation. Allaire denies exposure to FTX. He also tweets:
The good news is that the foundations that have been built with crypto infrastructure and public chains give us the building blocks to now re-make financial services with radically more transparency than we've ever known.[65]
November 8 11:22 p.m. Lucas Nuzzi Tweet Financial (FTX-Alameda connection) Crypto Security Researcher Lucas Nuzzi publishes a 15-tweet thread describing having found evidence that FTX might have provided a massive bailout for Alameda in September 28, when 173 million FTT tokens worth over 4 billion USD became active on-chain. This would be discovered and seen as oportunity from competitor Binance, a large holder of FTT, which could start deliberately tanking FTT's market to force a liquidity crunch. [22] He also notes FTX may have minted a lot of Serum (SRM) out of thin air to prop up its balance sheet.[66]
November 8 9:52 p.m. Tom Maloney Article SBF net worth Tom Maloney at Bloomberg reports on SBF net worth dropping an estimated 94%, the largest one day drop in the Bloomberg Billionaires Index history, from $15.6 billion to about $1 billion.[67]
November 9 12:32 p.m. CoinDesk Article Rescue attempt CoinDesk becomes the first to report Binance is strongly leaning against buying FTX after just a few hours of checking its books and loans.[68][69]
November 9 1:06 p.m. Edward Snowden Tweet Notable comment Famous whistleblower Edward Snowden tweets:
Custodial exchanges were a mistake.[70]
November 9 2:30 p.m. Changpeng Zhao Tweet FTX collapse Changpeng Zhao shares on Twitter a note to Binance employees, telling staff that the near FTX collapse wasn't planned and would likely trigger increased regulatory scrutiny. The note reads:
We did not master plan this or anything related to it (...) FTX going down is not good for anyone in the industry. Do not view it as a "win for us".[71]
November 9 4:11 p.m. U.S. Securities and Exchange Commission, Commodity Futures Trading Commission Article Official intervention An article published at Bloomberg reports that the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission started investigating the FTX's relationships with Alameda Research and FTX US, as well as allegations that the company mishandled customer funds.[72][27]
November 9 8:10 p.m. Matt Levine Article FTX collapse Financial writer Matt Levine at Bloomberg News publishes an article explaining the FTX crisis as a death spiral financing case.[73][74] On November 10, Levine would further expand the case in a new article.[75]
November 9 9:00 pm Binance Tweet Rescue attempt Binance tweets:
As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com.[76]
In another statement of the thread, Binance says:
Our hope was to be able to support FTX's customers to provide liquidity, but the issues are beyond our control or ability to help.[77]
The decision is the result of Binance executives poring over FTX’s books, in which they were confronted with a confusing mess, according with a person familiar with the matter, who also said that FTX first put the hole that needed to be plugged at $2 billion, then $5 billion, then finally more than $8 billion. People familiar with the matter would also report on many of FTX’s lawyers quitting while the talks were under way.[36]
November 9 circa 9:20 p.m. Impact on other assets Bitcoin falls as low as $16,027. At 9:20 p.m. UTC, BTC trades at $16,120.[78]
November 9 9:56 p.m. Changpeng Zhao Tweet Rescue attempt Changpeng Zhao comments on the incapacity of Binance to push ahead with the deal to acquire FTX. CZ tweets:
Sad day. Tried, but 😭[79]
November 9 circa 10:00 p.m. FTX website instability The first outage at the FTX website occurs, and the website appears to struggle to stay online. The instability impacts FTX’s international site, while its affiliate FTX.US appears unaffected. An error message at FTX.com reads:
We're sorry, something went wrong while processing your request. Please try again later.[80]
November 10 3:00 a.m. Justin Sun Tweet Rescue attempt Without details, Tron cryptocurrency network founder Justin Sun drops hints at saving FTX.[68][81] Sun tweets:
Further to my announcement to stand behind all Tron token (#TRX, #BTT, #JST, #SUN, #HT) holders on #FTX, we are putting together a solution together with #FTX to initiate a pathway forward.[82]
November 10 9:19 a.m. Jesse Powell Tweet Industry peer reaction Kraken former CEO Jesse Powell publishes 14-tweet thread reflecting on the FTX crisis.[83] The first tweet reads:
This industry is made up of so many smart, passionate, open-minded, welcoming people, with genuine humanitarian interest at heart. I know we're going to get past this. True believers will not be deterred. But, this is a massive setback. I'm really trying to control my rage.
Another of his tweets reads:
Red flags:
  • acting like you know everything after showing up to the battle 8 years late
  • 9 figs buying political favor
  • being overeager to please DC
  • huge ego purchases, like 9-fig sports deals
  • being a "media darling", seeking out puff pieces
  • EA virtue signaling
  • FTT
November 10 11:51 a.m. Effective Altruism Forum post Impact on effective altruism A post by Julia Wise on the Effective Altruism Forum adresses people affected by the collapse of FTX, offering support from the community health team. Affected individuals include customers as well as grantees by FTX Future Fund, a project of the FTX Foundation, a philanthropic foundation funded primarily by Sam Bankman-Fried.[84] FTX is connected to the effective altruist community, which received millions of dollars of funding from SBF and FTX via Future Fund.[85]
November 10 1:24 p.m. Bloomberg Article Impact on users Bloomberg reports on crypto asset manager CoinShares having around $30.3 million in Bitcoin, Ether and USDC stuck in FTX.[86]
November 10 2:13 p.m. Sam Bankman-Fried Tweet Bankruptcy SBF publishes a 22-tweet thread apologizing for the situation and offering and offering his version of events. In the first tweet, SBF says:
I'm sorry. That's the biggest thing. I fucked up, and should have done better.[87]
November 10 2:45 p.m. Tom Emmer Tweet Politician reaction American Republican politician Tom Emmer tweets:
Interesting. Gary Gensler runs to the media while reports to my office allege he was helping SBF and FTX work on legal loopholes to obtain a regulatory monopoly. We're looking into this.[88]
November 10 7:08 p.m. FTX Tweet Impact on users FTX communicates thorugh Twitter:
Per our Bahamian HQ's regulation and regulators, we have begun to facilitate withdrawals of Bahamian funds. As such, you may have seen some withdrawals processed by FTX recently as we complied with the regulators.[89]
November 10 7:48 p.m. Tron Tweet Rescue attempt FTX tweets:
We are pleased to announce that we have reached an agreement with Tron to establish a special facility to allow holders of TRX, BTT, JST, SUN, and HT to swap assets from FTX 1:1 to external wallets.
In the tweet thread, it is reported that the functionality would be enabled at 18:30 UTC, November 10, and that funding capacity would be provided by Tron. As part of this agreement, Tron deposits would be disabled for all users during this period, allowing only pre-announced deposits conducted weekly.[90] As a result of this, Tron-based tokens would surge as much as 1000% on FTX as users scramble to find ways of extracting locked-up liquidity from the exchange.[91]
November 10 Financial Services Agency Official intervention The Financial Services Agency of Japan requests FTX Japan suspend business orders, citing the policies of FTX Trading Limited. FTX Japan is ordered to suspend over-the-counter derivative transactions and related margins as well as new deposits from November 10 to December 9 unless the FSA steps in.[92][93]
November 10 Securities Commission of The Bahamas Official intervention FTX assets are frozen by the Securities Commission of The Bahamas, which appoints a liquidator for one of his entities, as SBF raced to raise as much as US$8 billion to save FTX.[94]
November 10 10:00 p.m. CoinDesk Article Team An article published at CoinDesk reports that FTX was run by a group of 10 housemates. Among the 10 housemates, FTX CTO Gary Wang, FTX DOE Nishad Singh, and Alameda CEO Caroline Ellison, with Wang, Singh, and SBF controling the code, the exchange's matching engine and funds. According to several current and former FTX and Alameda employees interviewed on the condition of anonymity, members of the team are in on again, off again relationships, and FTX is "a place full of conflicts of interest, nepotism and lack of oversight". According to a person familiar with the matter: "The whole operation was run by a gang of kids in the Bahamas".[95][96]
November 10 10:23 p.m. Holden Karnofsky Blog post Impact on effective altruism Holden Karnofsky publishes the first public announcement by Open Philanthropy (the other major funder of the EA ecosystem) regarding the FTX crisis. Karnofsky clarifies that funds directed by Open Philanthropy are not invested in or otherwise exposed to FTX or related entities. He also states that if the FTX Foundation stops funding longtermist and effective altruist projects, then Open Philanthropy would have to consider a substantially larger set of funding opportunities, raising their bar for longtermist grantmaking. On November 13, Karnofsky would edit the post, adding that it’s very likely that FTX engaged in outrageous, unacceptable fraud, and expressing fury at the behavior of FTX leadership.[97]
November 10 11:31 p.m. Evan Hubinger Effective Altruism Forum post Impact on effective altruism A post by Evan Hubinger on the Effective Altruism Forum discusses engaging in fraudulent activities for the sake of effective altruism. The post concludes that, if FTX did engage in fraud, the lasting consequences to effective altruism —and the damage caused by FTX to all of their customers and employees—will likely outweigh the altruistic funding already provided by FTX to effective causes.[98]
November 10 10:39 p.m. Genesis Tweet Industry peer reaction Cryptocurrency brokerage Genesis tweets:
As part of our goal in providing transparency around this week’s market events, the Genesis derivatives business currently has ~$175M in locked funds in our FTX trading account. This does not impact our market-making activities.[99]
November 10  ? Lucinda Shen Article Rescue attempt Lucinda Shen at American news website Axios reports that FTX approached Kraken for a potential rescue deal. The small size of Kraken shows just how thin FTX's options are getting at this time.[100]
November 11 1:04 a.m. FTX Future Fund Effective Altruism Forum post Team (resignation) A post by FTX Future Fund members on the Effective Altruism Forum announces resignation of the entire FTX Future Fund team.[101] The group expresses their devastation as there are many pledged grants that the Future Fund would not be able to honor in its letter.[102]
November 11 8:03 a.m. Venus Feng, Tom Maloney Article SBF net worth Venus Feng and Tom Maloney at Bloomberg News publish an article on SBF assets, estimating his net worth at $16 billion prior to the collapse, which is reported as having been wiped out.[103]
November 11 9:30 a.m. Sam Bankman-Fried Bancruptcy SBF resigns and authorizes John J. Ray III to commence Chapter 11, Title 11, United States Code cases.[104]
November 11  ? Partnership termination Miami-Dade County and professional basketball team Miami Heat cut ties with now bankrupt FTX, and announce renaming the FTX Arena, as naming rights deal come to an end.[105]
November 11  ? Changpeng Zhao Interview FTX collapse Changpeng Zhao gives his first interview after the collapse of FTX at Indonesia Fintech Summit 2022.[28]
November 11 2:14 p.m. FTX Tweet Bankruptcy Official FTX bankruptcy filing is published on Twitter.[106] At 3:23 p.m. SBF in his account tweets having filed FTX, FTX US, and Alameda Research for voluntary Chapter 11 proceedings in the United States.[107] (See Alameda filing showing the corporate structure and pictorial representations of the dependencies). It is announced that SBF will step down as CEO and be replaced by John J. Ray III.[95] Just before the bankruptcy, the Financial Times reported that the exchange’s primary balance sheet showed only $900 million in liquid, easy-to-sell assets against $9 billion in liabilities.[108][109] In addition, over 100 FTX-affiliated business entities declare bankruptcy.
November 11 3:59 p.m. Changpeng Zhao Tweet Industry peer reaction Changpeng Zhao tweets:
FTX aside, avoid businesses/exchanges/projects that:
  • are not profitable (musical chairs)
  • survive by selling their own tokens
  • give high incentives for locking your tokens
  • have a large total supply, but only a small circulation supply
  • involves loans[110]
November 11 4:05 p.m. Robert Wiblin Tweet, blog post Grantmaking 80,000 Hours Director of Research Robert Wiblin publishes a 17-tweet thread expressing his indignation over the FTX Future Fund team resignation. He comments in one of his tweets:
I've been waiting for the Future Fund people to have their say, and they have all resigned.[101]

So now you can hear what I think.

I am fucking appalled.[111]

Another tweet reads:
No plausible ethics permits one to lose money trading then take other people's money to make yet more risky bets in the hope that doing so will help you make it back.[111]

Wiblin expresses his concern and sympathy for Future Fund grantees, some of whom quit jobs or made life plans hoping to work to reduce suffering and catastrophic risks using funds that would be evaporated.[111] He reiterates his statements in an Effective Altruism Forum blog post.[112]

November 11 4:52 p.m. Sawyer Bernath Effective Altruism Forum post Grantmaking Berkeley Existential Risk Initiative Executive Director Sawyer Bernath publishes the first Effective Altruism Forum post discussing the possibility of clawbacks, in which case FTX grantees could be legally obligated to return funds.[113]
November 11 5:47 p.m. SaraAzubuike Effective Altruism Forum post Impact on effective altruism An Effective Altruism Forum post is published with explicit suggestions to the EA community for changing funding given the already infamous FTX Foundation case. Suggestions include considering anonymous posts, and partially anonymized finances. The author writes:
If an EA org receives some money above a certain threshold from an individual contribution, we should be transparent in saying that we will reject said money if it is not donated anonymously.[114]
November 11 8:12 p.m. Doug Colkitt Tweet FTX collapse DEX protocol CrocSwap founder Doug Colkitt publishes a 23-tweet thread, explaining his version of what happened to FTX. Among the tweets, Colkitt comments that Alameda was a prop firm with mediocre traders, a "big fish in a little pond", that at one point or another lost more than it could internally fund, and had to dip into FTX reserves. He also comments that FTX was a ponzi targeting trading firms.[115]
November 11 8.35 p.m. Celsius Tweet Impact on users Bankrupt crypto lender Celsius Network tweets:
In the interest of transparency, Celsius has approximately 3.5mm SRM tokens on FTX, most of which are locked, as well as loans to Alameda totaling approximately $13MM (based on current values) which are currently under-collateralized (primarily by FTT tokens).[116]
November 11 9:41 p.m Vitalik Buterin Tweet Industry peer reaction Vitalik Buterin tweets:
MtGox "looked" sketchy and never tried too hard to whitewash itself. Luna too. FTX was the opposite and did full-on compliance virtue signaling (not the same thing as compliance)

The second kind of fraud cuts deeper than the first.[117]

November 11 11:43 p.m. Eliezer Yudkowsky Tweet Grantmaking Eliezer Yudkowsky publishes a Twitter thread discussing FTX's charity recipients. The first tweet reads:
Your incredibly obvious reminder that MANY people besides FTX's charity recipients had HIGH personal stakes in guessing whether FTX was stealing customer deposits; and the supermajority of those people, who were much deeper into cryptostuff, did not publicly guess this right.[118]
November 11 11:55 p.m. William MacAskill Tweet Bankruptcy Scottish philosopher and ethicist William MacAskill posts a tweet thread discussing FTX’s bankruptcy, and expressing the enormous harm that was caused as a result, involving the likely loss of many thousands of innocent people's savings.[119]
November 11 Late Unauthorized transaction Some $473 million in funds are removed from FTX through what Ryne Miller, FTX US's general counsel, characterizes as "unauthorized transactions".[120]
November 12 0:15 a.m. Brian Armstrong Article Industry peer reaction Coinbase's CEO, Brian Armstrong publishes an op-ed calling for renewed attention to implementing reasonable regulations and checks and balances to prevent future FTX sized disasters.[121][95]
November 12 0:22 a.m. Elon Musk Tweet Partnership proposal South African business magnate and Twitter CEO Elon Musk tweets:
Accurate. He set off my bs detector, which is why I did not think he had $3B.[122]
The comment refers to an instance in March in which SBF offered "at least $3 billion" to help Musk buy Twitter, and proposing a deal to integrate Twitter with blockchain technology.[123][95] Upon meeting Bankman-Fried, Musk reports having immediately sensed “something wrong.”
He does not have capital, and he will not come through. That was my prediction. And that was definitely what happened.[124]
The role of William MacAskill in the negotiation would be discussed after the FTX collapse, as MacAskill was a liaison between SBF and Musk.[125]
November 12 3:51 a.m. Eliezer Yudkowsky Effective Altruism Forum post Grantmaking Eliezer Yudkowsky publishes an Effective Altruism Forum post proclaiming against clawbacks from FTX Foundation grantees, as some of them feel obligated to return their grants. Yudkowsky provides some moral arguments and analogies to sustain his position.[126]
November 12 5:14 a.m. Elon Musk Tweet Notable comment Elon Musk tweets:
FTX meltdown/ransack being tracked in real-time on Twitter.[127]
November 12 6:31 a.m. Tether Limited Tweet Security Blockchain investigator ZachXBT tweets:
Breaking: $3.9m USDT on AVAX and $27.5m USDT on SOL of the FTX attacker’s has been blacklisted by Tether.[128]
By blacklisting the alleged stolen USDT token, hackers are disabled to transfer the assets to another account or exchanging them for other cryptocurrencies.[129][130]
November 12 7:07 a.m. Trung Phan Article FTX collapse Trung Phan on his Substack publication SatPost posts a highly cited and respected summary of the FTX's collapse, organized along a list of key memes and tweets assembled to provide a full-ish picture.[2]
November 12 7:07 a.m. Ryne Miller Tweet Bankruptcy FTX US General Counsel Ryne Miller tweets:
Following the Chapter 11 bankruptcy filings - FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage. Process was expedited this evening - to mitigate damage upon observing unauthorized transactions.[131]
November 12 7:33 a.m. Autism Capital Tweet Psychopharmacology Autism Capital tweets the alpha on stimulants within the organization shared by a source inside FTX:
Stimulants were highly advised to be used by new hires for a long time. Sam would literally give an orientation on stimulants and would describe which would do that. He told them to give them all a try and see what works best and what they felt most productive on. Sam used a patch for designer stimulants that mainlined them into his blood to give him a constant buzz all the time.[132]
November 12 12:45 p.m. Nathan Young Effective Altruism Forum Impact on effective altruism Nathan Young publishes an open-ended question post asking how the effective altruist community can avoid a FTX-like situation, assuming that given the information available indicated an avoidable failure. The author asks for suggestions the EA community could have actually done with the information they had.[133]
November 12 2:22 p.m. Tyrone-Jay Barugh Effective Altruism Forum Impact on effective altruism Tyrone-Jay Barugh publishes a post on the Effective Altruism Forum suggesting an independent investigation on key EA orgs (like the Center for Effective Altruism/Effective Ventures, Open Philanthropy, and Rethink Priorities) to try to identify whether key figures in those organizations knew about the likely fraud at FTX.[134]
November 12 4:36 p.m. Mark Cuban Tweet FTX collapse American entrepreneur Mark Cuban tweets:
These blowups have not been crypto blowups, they have been banking blow-ups. Lending to the wrong entity, misvaluations of collateral, arrogant arbs, followed by depositor runs. See Long Term Capital, Savings & Loan and Sub-Prime blowups. All different versions of the same story.[135]
November 12 circa 5 p.m. Article Financial An article at ft.com reports that FTX held less than $1 billion in liquid assets against $9 billion in liabilities the day before it collapsed into bankruptcy, according to investment materials seen by the Financial Times.[136]
November 12 5:05 p.m. Mike McGuiness Tweet Hacking gm.xyz founder Mike McGuiness tweets:
PSA: if you have a bank account linked to FTX US, change your bank account password and stop sharing data immediately.
In the tweet, McGuiness shows a screenshot of his bank account, claiming hackers tried accessing through the FTX US website.[137]
November 12 5:26 p.m. Antoine Gara, Kadhim Shubber, Joshua Oliver Article Financial The Financial Times reports that FTX's balance sheet shortly before the bankruptcy showed $9 billion in liabilities against $900 million in liquid assets, $5 billion in "less liquid" assets, and $3.2 billion in illiquid private equity investments. An obscure $7 million holding called “TRUMPLOSE” is also reported. There are no bitcoin assets listed, despite bitcoin liabilities of $1.4 billion.[138]
November 12 6:17 p.m. Ryne Miller Tweet Unauthorized transaction FTX's US general counsel Ryne Miller writes in a tweet:
Among other things, we are in the process of removing trading and withdrawal functionality and moving as many digital assets as can be identified to a new cold wallet custodian. As widely reported, unauthorized access to certain assets has occurred.[139]
November 12 10:31 p.m. Alyssa Vance Tweet Financial AI startup Apprente team member Alyssa Vance tweets:
This FTX "balance sheet" is absolutely the most ludicrous fucking thing I've ever seen. This is for a company that, in a boom year, had $1B in revenue and $300MM in profit.[140]
Dustin Moskowitz would comment on the tweet:
As it got worse, the deceptions apparently increased. It is very hard to swallow that SBF was doing rational enterprise value calculations at that point; seems more like the classic case of the rogue trader doubling down rather than admitting mistakes.[141]
November 12 10:54 p.m. Marcelo Claure Tweet Notable comment Former SoftBank COO Marcelo Claure tweets:
I have been reflecting personally on the whole FTX fiasco and it taught me one more time that we should NEVER invest because of FOMO and we should always 100% understand what we are investing in. I totally failed here on both.[142]
SoftBank revealed days ago that it sunk just under $100 million into the company.[143][144]
November 12 11:44 p.m. Securities Commission of The Bahamas Tweet Impact on users The Securities Commission of The Bahamas publishes on Twitter a FTX Statement which contradicts FTX claim that it was required to process local withdrawals. According to the statement, SCB did not require the exchange to allow withdrawals for users in the country.[145][146]
November 13 0:42 a.m. Dustin Moskovitz Tweet Impact on effective altruism Dustin Moskovitz posts a 15-tweet thread on the FTX crisis. The first tweet reads:
Two seemingly contradictory things I believe about the SBF situation:

a/ The Effective Altruism community will need to have a strong response/crucible moment

b/ The simplest explanation for his behavior does not imply utilitarianism means-justifying, as widely assumed.[141]

Moskovitz also states that, either effective altruism encouraged SBF's unethical behavior, or provided a convenient rationalization for such actions, and either is bad. He outlines the situation as infuriating, devastating, and incredibly humbling all at once.[141]
November 13 5:00 a.m. Hamish Doodles Effective Altruism Forum FTX collapse Hamish Doodles at the Effective Altruism Forum publishes a FAQ post on the FTX situation. Among the answered FAQs, it is estimated that FTX Future Fund contributed US$262 million, equivalent to the 35% of the total EA funds (741 million) in 2022.[85]
November 13 4:01 p.m. Molly Kovite Effective Altruism Forum Grantmaking An Open Philanthropy legal counsel publishes a highly upvoted and referenced post aiming to provide legal context on clawbacks from FTX Future Fund grantees to the FTX bankruptcy court. The post doesn't address ethical or other practical perspectives on the topic. The author warns that FTX grants made in the 90 days before bankruptcy are likely to be clawed back.[147] On November 23rd, Molly Kovite wouldpublish another post at the EA Forum, expressing her thoughts on legal concerns surrounding the FTX situation.[148]
November 13 4:06 a.m. Vitalik Buterin Tweet Industry peer reaction Russian-born Canadian Ethereum co-founder Vitalik Buterin tweets:
SBF the public figure deserves what it's getting and it's even healthy to have a good dunking session to reaffirm important community values.

Sam the human being deserves love, and I hope he has friends and family that can give it to him.[149]

November 13 6:24 p.m. Coindesk Article Impact on the industry Coindesk reports on Hong Kong-based crypto exchange AAX suspending withdrawal for as long as 10 days due to ​​the failure of an unidentified third party.[150] The company says it has no financial exposure to FTX or its affiliates.[151]
November 13 10:00 p.m. Angus Berwick Article Impact on users Angus Berwick at Reuters publishes an article reporting at least $1 billion of customer funds have vanished from FTX.[152]
November 13 circa 10:40 p.m. Sam Bankman-Fried Bankruptcy SBF penthouse in Nassau is put for sale with a price tag of US$39.5 million.[153]
November 13 6:02 p.m. Nonlinear Effective Altruism Forum Grantmaking Members of non-profit Nonlinear announce funding for Future Fund grantees affected by the FTX collapse, offering a small budget to help grantees cope with financial crisis.[154]
November 13 10:45 p.m. Scott Alexander Article Impact on effective altruism Scott Alexander at his Substack publication Astral Codex Ten publishes an open thread, discussing the collapse of FTX and its impact in effective altruism. The thread elaborates on the risk taken by utilitarians, like the St. Petersburg paradox, which involves the game of flipping a coin where the expected payoff of the theoretical lottery game approaches infinity but nevertheless seems to be worth only a very small amount to the participants. Alexander writes:
..if you St. Petersburg yourself a bunch of times and lose everything, it’s going to be really hard to pat yourself on the back for a job counterfactually well done and walk away. More likely you’re going to panic and start grasping for unethical schemes that let you escape doom. So real-world St. Petersburg isn’t “50% chance of doubling your money, 50% chance of zero”, it’s “50% chance of doubling your money, 50% chance of getting put in a psychologically toxic situation where you’ll face almost irresistible pressure to do crazy things that will have vast negative impact.”[155]
November 14 0:39 a.m. Effective Altruism Forum Impact on effective altruism A post on the Effective Altruism Forum addresses some lessons from the FTX situation that the author suspects are questionable in view of all that has happened. The author examines ambition, as well as the slogan "earning to give", also dicussing ethics and utilitarianism.[156]
November 14 3:01 a.m. Sam Bankman-Fried Tweet Notable comment SBF account starts posting mysterious tweets, in what some suspect a compromised account, which posts the word “What,” which would be followed by another tweet with the letter “H”. Within the day, someone would make a WHAT meme coin based on SBF’s tweet.[157][158]
November 14 6:39 a.m. Changpeng Zhao Tweet Industry peer reaction Changpeng Zhao tweets:
To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify.[159]
November 14 12:43 p.m. James Fodor Effective Altruism Forum Impact on effective altruism In light of the FTX crisis, James Fodor at the Effective Altruism Forum publishes a post arguing that aspects of good governance and robust institution building have not been very highly valued in the broader effective altruist community. The author questions weak norms of governance and calls for the need for better norms.[160]
November 14  ? Partnership termination San Francisco-based NBA team Golden State Warriors terminates all FTX-related promotional deals, including global ambassador for FTX Stephen Curry, and FTX US and its NFT marketplace as the Warriors’ official cryptocurrency platform.[161][162]
November 14 1:41 p.m. Byrne Hobart Article FTX collapse An article at Substack newsletter The Diff! is published by Byrne Hobart, analizing the FTX crisis in relation to the concepts of money, credit, and trust.[163]
November 14 4:49 p.m. Travis Kling Tweet Impact on users Travis Kling from crypto management firm Ikigai announces on Twitter having been caught up in the FTX collapse. With a large majority of the hedge fund’s total assets on FTX, Kling announces having been able to withdraw very little out. In the thread Kling writes:
It was entirely my fault and not anyone else’s. I lost my investors’ money after they put faith in me to manage risk and I am truly sorry for that. I have publicly endorsed FTX many times and I am truly sorry for that. I was wrong.[164]
November 14 6:09 p.m. Matt Levine Article Financial Financial columnist Matt Levine at bloomberg.com publishes an article explaining the disastrous FTX balance sheet.[165][166]
November 14 6:46 p.m. Eric Neyman Effective Altruism Forum Impact on effective altruism Eric Neyman at the Effective Altruism Forum publishes a highly upvoted post suggesting higher standards for how to draw lessons from the FTX collapse. The author expresses that proposed answers to the question of what should members of the EA community have done differently, given the information they had at the time, would be considerably more useful if they address a number of criteria.[167]
November 14 9:07 p.m. Kari McMahon Article Team An article at The Block is published, focusing on FTX’s billionaire co-founder Gary Wang, who was also one of the top executives at the exchange. The article highlights his quiet personality, with coding being his only interest, according to sources.[168]
November 14 circa 11 p.m. Sam Bankman-Fried Interview FTX collapse SBF is interviewed by the New York Times. He confesses:
Had I been a bit more concentrated on what I was doing, I would have been able to be more thorough (..) That would have allowed me to catch what was going on on the risk side.[169]
The New York Times article focuses on the impact the FTX collapse has had on effective altruism.[170]
November 15 6:46 a.m. whalechart.org Twitter FTX collapse Mr. Whale 🐳 whalechart.org on Twitter publishes a document shared by an insider, where Caroline Ellison explains how FTX and Alameda collapsed.[171]
November 15 9:58 a.m. PeckShield Tweet Security Security firm PeckShield tweets:
#PeckShieldAlert FTX Accounts Drainer has swapped 48.27M $DAI (~$48.36M) to 37.57k $ETH (~$47.69M) on Ethereum

Arbitrary loss: -$671,424.25 FTX Accounts Drainer currently holds 228,523.83 $ETH (~$288M) and makes the address become the 35th largest holder of ETH.[172]

November 15  ? Sam Harris Podcast Impact on effective altruism American philosopher Sam Harris publishes a podcast discussing SBF, the collapse of FTX, and its impact on Effective Altruism.[173][174]
November 15 1:24 p.m Jack Lewars Effective Altruism Forum Impact on effective altruism Jack Lewars at the Effective Altruism Forum publishes the first post adressing the impact the FTX collapse had on the EA funding ecosystem.[175]
November 15 5:49 Linda Kinstler Article Impact on effective altruism Linda Kinstler at The Economist publishes an article addressing the impact of the collapse of FTX has had on effective altruism. The author concludes that SBF's advocated longtermism is a stance in which prediction and speculation are often indistinguishable and obligations to a probabilistic future outweigh those to the material present. Kinstler describes effective altruism as ultimately a gamble, in which SBF placed his bet, and for now, he has lost.[176]
November 15 5:51 p.m. Tiffany Fong Tweet Impact on users Tiffany Fong tweets: [[wikipedia:Salt Lending has admitted exposure to FTX & has paused deposits & withdrawals effective immediately.[177]|Salt Lending has admitted exposure to FTX & has paused deposits & withdrawals effective immediately.[177]]] Hours later, CoinDesk would report SALT halting all deposits and withdrawals on its platform due to FTX exposure.[178]
November 15 Liquid Global Tweet Impact on the industry Japanese crypto exchange Liquid, owned by FTX, announces on Twitter the suspension both fiat and crypto withdrawals on its Liquid Global platform, which writes:
Due to the Chapter 11 filing by FTX Trading International the ultimate beneficial owner of Quoine Pte. Ltd, Liquid Exchage (Quoine Pte.) is halting all withdrawals - both fiat and crypto currency.[179]
November 15 7:42 p.m. Shakeel Hashim Effective Altruism Forum Impact on effective altruism Shakeel Hashim from the Centre for Effective Altruism publishes a post addressing communication from EA organizations and their leaders, and the frustrating situation for all involved, as EA community members may not want to say things they’ll regret in the years to come. The author expects that in the short term there will be a lot less communication for a number of reasons, including legal risk. This is the first post talking about the EA org side of the situation.[180]
November 16 2:44 a.m. Sam Bankman-Fried Tweet SBF comment SBF tweets as part of a days-long thread:
A few weeks ago, FTX was handling ~$10b/day of volume and billions of transfers.

But there was too much leverage--more than I realized. A run on the bank and market crash exhausted liquidity.

So what can I try to do? Raise liquidity, make customers whole, and restart.[158]

November 16 4:47 a.m. Eliezer Yudkowsky Effective Altruism Forum Impact on effective altruism Eliezer Yudkowsky at the Effective Altruism Forum publishes a post asking who's responsible for the FTX fiasco. The post is highly commented by important figures in the effective altruist community.[181]
November 16  ? 80,000 Hours Impact on effective altruism London-based nonprofit organization 80,000 Hours publishes their official statement regarding the collapse of FTX. Among the announcements, the org confirms it will start by removing instances on their website where SBF was highlighted as a positive example of someone pursuing a high-impact career.[182]
November 16 8:20 p.m. Kelsey Piper Interview SBF interview Kelsey Piper, a writer at a Vox’s effective-altruism-inspired section, publishes an interview with SBF, who claims his firms FTX and Alameda Research have gambled with customer money without realizing that’s what they were doing. He also comments about regulators, about regretting his decision to declare bankruptcy, and about what he would have done differently with FTX and Alameda, which includes more careful accounting and offboarding Alameda from FTX once FTX "could live on its own".[183] FTX would publish an official response on Twitter regarding SBF comments, in a 3-tweet thread with John Ray stating that SBF has no ongoing role at FTX, FTX US, or Alameda Research, and does not speak on their behalf.[184] SBF revelations would also be commented in a Hacker News discussion,[185] and covered at Business Insider.[186]
November 16 5:10 a.m. Open Philanthropy Effective Altruism Forum Impact on effective altruism Bastian Stern from Open Philanthropy publishes a post announcing Open Phil is seeking applications from FTX Future Fund grantees impacted by the FTX collapse.[187]
November 16 9:18 a.m. Scott Alexander Blog post Psychopharmacology A blog post at Astral Codex Ten discuses the use of drug stimulants in the FTX team and their possible contribution to the collapse of the Exchange. The author considers the probability of medication causing overspending and compulsive gambling as a side effect in SBF.[188]
November 16 11:18 a.m. Olúfẹ́mi O. Táíwò, Joshua Stein Article Impact on effective altruism Georgetown University fellows Olúfẹ́mi O. Táíwò and Joshua Stein publish an article on The Guardian criticizing the effective altruist movement, and points the FTX fraud scandal calling into question the “effective” part of effective altruism. A quote from the article reads:
If the movement doesn’t change course, then one of the most ambitious charitable fundraising drives in recent history will be used to pour money back into the pockets of wealthy donors who fancy themselves swashbuckling visionaries.
The authors suggest that proposed structural reforms and democratic control of philanthropic organizations by those who are impacted by the organizations’ endeavors seem to have been largely ignored in favor of a tech and capital-friendly research agenda, and a system controlled by a wealthy minority.[189] They also shortly criticize longtermism as a guise for tech billionnaires to develop pet projects.[190]
November 16  ? Impact on users The first class action lawsuit against SBF is filed, claiming that FTX violated Florida law and demanding $11 billion in damages on behalf of its customers.[191]
November 16  ? Impact on the industry Affected by the fallout of FTX's collapse, the lending division of cryptoasset manager Genesis suspends customer redemptions and new loan originations.[192]
November 17 7:15 a.m. Changpeng Zhao Speech Industry peer reaction Speaking at an event in the United Arab Emirates with economic think tank the Milken Institute, Changpeng Zhao calls SBF a “psychopath” for alluding in a tweet that Zhao was his “sparring partner” amid the FTX collapse.[193][194]
November 17 11:00 a.m. Matthew Yglesias Blog post Impact on effective altruism American blogger and journalist Matthew Yglesias at Substack newsletter Slow Boring publishes his thoughts on the FTX collapse, including implications for effective altruism, and for the linear utility theory.[195]
November 17 circa 1:00 p.m. John J. Ray III Court document Bankruptcy Lawyers for FTX file in Delaware, asking a federal judge to transfer to the state a competing bankruptcy case filed in New York by Bahamian liquidators.[196][197][198] In a court document John J. Ray III says:
Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here (...) From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.[199]
Aditionally, noting that he worked on Enron's bankruptcy, he states having still never seen such a "complete failure" and "absence of trustworthy financial information".[200] Also:
From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated, and potentially compromised individuals, this situation is unprecedented.[201]
November 17 1:26 p.m. Zvi Effective Altruism Forum FTX collapse A post on Effective Altruism Forum provides a very extensive and comprehensive coverage of the situation as of time.[66]
November 17 3:15 p.m. Elon Musk Tweet Impact on effective altruism Elon Musk tweets:
SBF is ineffective altruism, but they thought he was saying he was in effective altruism. Easy misunderstanding.[202]
November 17 6:57 p.m. FTX Tweet Bankruptcy FTX Group announces having established Kroll as its claims agent, witl all official documents filed with the United States bankruptcy court available online.[203]
November 17 10:37 p.m. John Hyatt Article Impact on effective altruism John Hyatt at Forbes publishes an article addressing the groups associated with effective altruism, who are tied to millions of dollars that could be clawed back in bankruptcy proceedings, according to restructuring lawyers. Brooklyn Law School bankruptcy law professor Edward Janger is quoted saying:
To the extent that any FTX entities transferred funds to the foundation while insolvent, the creditors of those entities in the bankruptcy may be able to assert fraudulent conveyance claims to recover those funds.
and
Yes, the charities should be worried.
The article continues describing the upheaval the FTX scandal caused on the EA movement.[204]
November 18  ? Background Theranos CEO Elizabeth Holmes is sentenced to 11 years in prison.[205]
November 19 4:00 p.m. Alexander Osipovich, Caitlin Ostroff , Patricia Kowsmann , Angel Au-Yeung and Matt Grossman Article Team An article is published at The Wall Street Journal, describing the lives of the people who ran FTX. The article describes the firm as an unruly agglomeration of corporate entities, customer assets and SBF himself, with neither accounting nor functioning human-resources departments.[36]
November 21 1:47 a.m. Tyler Whitmer Effective Altruism Forum Impact on effective altruism Tyler Whitmer publishes a highly upvoted and commented post on the Effective Altruism Forum discussing the pros and cons of talking publicly about SBF/FTX for effective altruism. Whitmer suggests ther would be very few declarations about the FTX/SBF fiasco from any EA public figures or institutions, and suggests it would be best for effective altruists not to comment on the FTX/SBF situation, and not just for their own sake.[206]
November 22 3:41 p.m. Lucas Nuzzi Tweet Financial (FTX-Alameda connection) Lucas Nuzzi starts a new Twitter thread providing some answers on how Alameda Research lost billions of dollars of FTX user funds. Among the answers, Nuzzi mentions directionally wrong trades; likely leveraged DeFi lending markets, esp. stablecoin-denominated; and cross-chain bridges, either hacked or their native tokens becoming worthless; all mechanisms through which Alameda might have lost considerable amounts of user funds.[207]
November 22 4:00 p.m. Bankruptcy A hearing on the First Day Motions (“First Day Hearing”) is held at 11:00 a.m before judge John T. Dorsey in the United States Bankruptcy Court for the District of Delaware.[9] The first-day motion requests focus on the company's assets, debts, and the location of the bankruptcy case. FTX has 36 banks and more than 200 bank accounts, and the group of companies employed over 500 people, primarily in the United States. According to FTX counsel James Bromley, a "substantial amount" of the company's assets have either been stolen or are missing. FTX brings on investment banking advisory firm Perella Weinberg to help maximize the value of its remaining viable assets. The company owes money to a range of parties, including banks, trading firms, and other cryptocurrency exchanges.[208]
November 22 6:51 p.m. Koh Gui Qing Article An article at Reuters reports on FTX and SBF, along with other senior executives and SBF's parents, having purchased at least 19 properties worth nearly $121 million in the Bahamas over the past two years. Attorneys for FTX also claim that one of the company's units spent $300 million in the Bahamas buying homes and vacation properties for its senior staff, and that FTX was run as a "personal fiefdom" by SBF.[209]
November 22 10:33 p.m. Sam Bankman-Fried Letter SBF apology Finance journalist Liz Hoffman tweets screenshots of a new letter that SBF shared with FTX employees on the same day, apologizing again and sharing a list of collateral and liabilities. His opening line states that he feels “deeply sorry about what happened.” He also says “maybe there still is a chance to save the company.”[210]
November 23 10:54 p.m. Rethink Priorities Effective Altruism Forum Impact on effective altruism Lead members of effective altruist organization Rethink Priorities publish a post expressing their statement on the FTX crisis, and its impact on the non-profit and the EA space.[211]
November 23  ? Cathie Wood Interview Notable comment Bloomberg publishes interview with Ark Invest CEO Cathie Wood, who reiterates her optimism on crypto assets in the wake of FTX's collapse. Wood says:
I think the thing that is shocking is how many people were very close to [Sam Bankman-Fried]... the fact that so many people were completely fooled is quite shocking. You know, I think he had this aura around him or something that caused people to ask fewer questions than might otherwise been the case. It's very hard to understand.[212][213]
November 24 10:30 a.m. Rachel Louise Ensign, Ben Cohen Article Impact on effective altruism Rachel Louise Ensign and Ben Cohen at The Wall Street Journal publish an article on SBF pledge to donate billions to philanthropy.[214]
November 25 3:02 p.m. Robert Wiblin Effective Altruism Forum post Impact on effective altruism Robert Wiblin at the Effective Altruism Forum publishes a post discussing SBF and his views on expected value and risk aversion in giving. Wiblin also clarifies his own position on diminishing returns and risk aversion in giving, after an April interview to SBF resurfaces with the FTX crisis. Wiblin discusses the concept of expected value and risk aversion in philanthropy, specifically in relation to large-scale giving. He agrees with the idea that returns to additional money become sublinear at larger scales, which suggests a need for risk aversion, especially in more niche cause areas and when considering giving on a scale of billions rather than millions of dollars. However, the writer also notes that there are practical considerations, such as the potential harm to organizations and individuals who depend on a known minimum level of funding, that may also weigh in favor of risk aversion. Wiblin also clarifies that their original description of this concept may have been oversimplified and potentially erroneous.[215]
November 26 6:39 a.m. Tiffany Fong Blog post SBF interview Tiffany Fong publishes her first post on Substack describing her phone calls with SBF.[216] The call would be published on Youtube on November 29. SBF confesses
I'm much more worried about the damage that I did to that than whatever happens to me personally.[217]
The interview would be covered on the Effective Altruism Forum.[218]
November 28 Impact on the industry Digital asset lender BlockFi files for bankruptcy, citing exposure to FTX, which is listed as BlockFi’s second creditor in importance.[219]
November 28 Ryan Pinder National statement Bankruptcy The Bahamian government severely criticizes John J. Ray III for his statements made in US bankruptcy proceedings. In a national statement, Bahamas Attorney General Ryan Pinder says that such statements made by Ray were “regrettable”, that “it is possible that the prospect of multimillion dollar legal and consultant fees is driving both their legal strategy and the intemperate statements,” and “In any case, we urge prudence and accuracy in all future filings,” he adds.[220][221]
November 29 4:26 p.m. Tiffany Fong Tweet/Youtube SBF interview Tiffany Fong publishes an audio from her first interview with SBF, who talks about bankruptcy, the alleged “backdoor,” donations to the Democratic Party, Ukraine money laundering rumors, the hack, Alameda’s margin position on FTX, and using FTT as collateral, among other topics.[222]
November 29  ? Spencer Greenberg Podcast Notable comment Spencer Greenberg in his podcast Clearer Thinking publishes a podcast discussing several aspects of the FTX collpase in interviews with a number of experts: newsletter writer Byrne Hobart; Maomao Hu, a ablockchain, fintech, and AI entrepreneur; Marcus Abramovich, a managing partner at a cryptocurrency hedge fund and involved in effective altruism causes; programmer and researcher Ozzie Gooen; and Vipul Naik, a PhD providing mathematical concepts in order to analize the magnitude of monetary damage caused by FTX.[223]
November 30 Sam Bankman-Fried Interview SBF interview SBF gives an interview to ABC News in which he denies knowing about any "improper use of customer funds" and accepts responsibility for the collapse of both companies. SBF acknowledges that he failed to have proper oversight and management in place, which led to the crash of FTX. He also denies reports of illegal drug use by FTX employees and says that he and Caroline Ellison were not in a polyamorous relationship. SBF says his focus is now on working through regulatory and legal processes and trying to make up for the harm caused.[224][225]
November 30 8:12 p.m. Impact on effective altruism An article at CNBC reports on a UK charity backed by SBF raising concerns about its future with the Charity Commission for England and Wales, following the collapse of FTX. SBF had donated millions of dollars to the charity and had pledged to donate billions more. The charity, the Effective Ventures Foundation (formerly the Centre for Effective Altruism), filed a "serious incident report" with the commission, which is required to be filed in certain circumstances, including the "loss of your charity’s money or assets" or "harm to your charity’s work or reputation".[226] The report is discussed on the Effective Altruism Forum, in a highly commented post.[227]
December 1 circa 1 a.m. Sam Bankman-Fried Interview SBF interview An interview with SBF at The New York Times’s DealBook Summit is published on nytimes.com.[228] Among his announcements, he says he “didn’t knowingly commingle” FTX customer funds, he denies he had knowingly committed fraud, he says that he did not realize what a dangerous position the firms were in, and he admits that big mistakes were made.[229]
December 1 Gideon Lewis-Kraus Article Impact on effective altruism Gideon Lewis-Kraus publishes an article at The New Yorker, focusing on the damaging impact SBF has made on effective altruism. Lewis-Kraus writes:
Some observers have argued that this scandal will be good for E.A., because their compromised institutions might die off such that their ideals will flourish elsewhere.[230]
December 4 6:10 p.m. Autism Capital, Caroline Ellison Tweet Team Autism Capital tweets an unverified photo purportedly showing Caroline Ellison making an order at a cafe in SoHo, Manhattan.[231] She is seen next to a dog that others on Twitter would claim is the Goldendoodle “Gopher” who lived with SBF and FTX employees at their Bahamas penthouse.[232]
December 4 Sam Bankman-Fried, Coffeezilla SBF interview During a Twitter Spaces interview, SBF is questioned by YouTube star Stephen Findeisen (also known as "Coffeezilla") about the way that FTX was handling client assets. Findeisen implies that FTX should have been keeping the funds of users who had signed up for different terms of service and risk levels separate in case of a crash. SBF admits that the exchange was "treating them differently," but does not provide a clear explanation for why some client assets no longer existed on the exchange. He states that FTX had processed $5-6 billion in withdrawals over a few days during a crash, but users were unable to cash out on falling currencies due to the company's bankruptcy. Bankman-Fried claimed that all clients were treated equally, despite the fact that they had signed up for different risk levels. It is unclear how funds from the exchange and other ventures, such as trading firm Alameda Research, were separated, and some users were left without access to their funds.[233][234]
December 6 Sam Bankman-Fried, Mark Cohen Legal SBF hires high-profile defense lawyer Mark Cohen to represent him in ongoing investigations by federal prosecutors and the Securities and Exchange Commission (SEC). By this time, he has already given numerous interviews in which he has described his actions as potentially stupid but not criminal.[235]
December 6 Sam Bankman-Fried Interview SBF interview An interview with SBF is published at The Daily Beast. SBF discusses his legal and media strategy, his relationships with his brother and mentor, his "earn to give" philosophy, and his assertion that he was secretly a Republican mega-donor. He also discusses the possibility of going to jail and his desire to be helpful when he testifies before Congress. SBF denies that there was a partying culture at FTX and says that he is not a perfect person but that he wants to speak the truth.[236]
December 7 8:15 p.m. whalechart.org Tweet Impact on the public According to a WhaleChart tweet:
Just 8% of Americans have a positive view of cryptocurrencies now, CNBC survey finds. Down from 19% in March.[237]
December 12 SBF arrest SBF is arrested in the Bahamas, after Damian Williams, the United States Attorney for the Southern District of New York, shares a sealed indictment with the Bahamian government.[238]
December 13 0:50 a.m. Dylan Matthews Article Impact on effective altruism An article at Vox by Dylan Matthews attributes philosophical errors by the effective altruist movement to the FTX collapse. He describes SBF as a "hardcore, pure, uncut" Benthamite utilitarian, and argues that SBF's apparent engagement in extreme misconduct may be due to his belief in utilitarianism and effective altruism, and that his colleagues at FTX and Alameda Research may have gone along with the plan for the same reasons. The author suggests that the idea of maximizing "the good" in effective altruism is problematic because it is difficult to define or measure and there are disagreements about it within the movement.[239] The article is discussed at the Effective Altruism Forum, in which Richard Y Chappell agrees with the criticism in the article that the culture of effective altruism is immature and needs to become more risk-averse and adopt practices used by more mature philanthropic institutions. However, the reviewer disagrees with the suggestion that the problem is the dominance of philosophy within the movement and instead argues that the problem is a lack of respect for established institutional guardrails and a culture of consulting with more senior advisers who understand how institutions work. Chappell suggests that what the effective altruism movement needs is people with more institutional experience and a better division of labor between philosophy and policy.[240]
December 13 Sam Bankman-Fried Legal (defense) A leaked copy of SBF testimony is obtained by Forbes. Being arrested by authorities in the Bahamas on the previous night to his testification before the United States Congress, the unpresented testimony apparently places blame for the failure of FTX on everyone but SBF. In the testimony, he claims that the US-based entity, FTX.US, was still "fully solvent" despite being included in a Chapter 11 bankruptcy filing on November 11. He also places blame on John J. Ray III, the restructuring lawyer who took over as FTX CEO after the filing, and the bankruptcy law firm Sullivan & Cromwell. SBF also accuses the general counsel for FTX.US, Ryne Miller, and Binance CEO Changpeng Zhao of contributing to the failure of FTX.[241][242][243]
December 13 John J. Ray III Bankruptcy John J. Ray III testifies on the collapse of FTX, attributing a number of reasons including it being run by "a very small group of grossly inexperienced and unsophisticated individuals."[244][245] See transcript.
December 20 3:00 p.m. Bankruptcy The Meeting of Creditors (“section 341 meeting”) is to be held telephonically.[9]
December 21 Caroline Ellison, Gary Wang Legal Caroline Ellison pleads guilty to seven charges, including wire, securities, and commodities fraud, as part of a plea deal with the United States Department of Justice. She faces a maximum sentence of 110 years in prison and agrees to pay restitution, the amount of which would be determined by the courts. As part of her plea deal, Ellison must cooperate fully with prosecutors and provide any relevant documents, records, and evidence. Gary Wang also pleads guilty to fraud.[246]
December 23 Sam Bankman-Fried SBF release SBF is released on a $250 million bond package while awaiting trial.[247]
January 11, 2023 3:00 p.m. Bankruptcy A final hearing on certain of the First Day Motions is to be held at 10:00 a.m. (prevailing Eastern Time).[9]

Numerical and visual data

FTX Token price

The chart below shows FTX Token (FTT) to USD price, approximately between November 7th and November 10th. On November 8th, seen at the center of the chart, is when most of the collapse took place.[248]

FTX 7-10 nov.PNG


Manifold Markets prediction

The chart below shows the chance of SBF being convicted of a felony before 2026, according to prediction platform Manifold Markets.[24]

SBF convicted of a felony before 2026 likelihood.PNG

Google Trends

The image below shows Google Trends data for FTX (Cryptocurrency company), showing spike of interest between around November 6 and November 13.

FTX Google Trends.png

Wikipedia Views

The chart below shows Wikipedia Views data for FTX (company), from January to November 2022.[249]

FTX Wikipedia views.PNG

FTX valuation history[250]

Date Stage Valuation in USD
2018, January 1 Seed Round
2019, August 6 Seed Round
2019, December 20 Corporate Round
2021, July 20 Series B 18,000,000,000
2021, October 21 Series B-1 25,000,000,000
2022, January 31 Series C 32,000,000,000
2022, March 21 Venture Round
2022, November 9 Bankruptcy 1

Meta information on the timeline

How the timeline was built

The initial version of the timeline was written by Sebastian.

Funding information for this timeline is available.

Feedback and comments

Feedback for the timeline can be provided at the following places:

What the timeline is still missing

Timeline update strategy

See also

Timelines related to FTX

Timelines related to the cryptocurrency space

External links

References

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