Sources: SBF’s Twitter thread, in the news.
In particular, I’m interested how will this influence SBF’s wealth and thus activities such as Future Fund.
[Question] Binance is buying FTX.com: How did it happen and what are the implications?
No idea on details but hedge funds aggressively attack each other over discovered vulnerabilities all the time and this sounds like such a hostile takeover what with Binance selling FTT in a (supposedly) maximally damaging way to FTX liquidity.
I don’t follow crypto, and have not been anywhere near these large sums of money that are supposedly now available in the world of effective altruism and AI safety. But I keep hearing that SBF has become the biggest individual patron of EA, and now it sounds like his main business enterprise went broke and was sold to a rival. So my working hypothesis is that there won’t be any more donations from him for a long time.
This post on the EA forum is probably what you want? https://forum.effectivealtruism.org/posts/yjGye7Q2jRG3jNfi2/ftx-will-probably-be-sold-at-a-steep-discount-what-we-know
Bloomberg tracks SBF’s wealth on a daily basis. Currently it’s at $15.6 billion, on an increasing trend
despite/because of this news, though down from his March peak of $23 billion. Note that Bloomberg’s graph makes the horrendous choice of putting the X axis at the historical minimum of his wealth rather than at zero.EDIT: I am not sure if they’ve updated it to reflect this news, actually.
I do not think that that link is a helpful resource for figuring out the implications of the news right now. I would be very surprised if Bloomberg were that on the ball!
I agree.