Holy shit.
If this isn't the fucking motive, I don't know what is.
Sequoia closed a panel yesterday with a fitting quote for founders in current market conditions.
“You cannot overtake 15 cars when it’s sunny… but you can when it’s raining.” - Ayrton Senna.
1/ Genesis is the only full-service prime broker in crypto. Genesis was a gem in the DCG portfolio.
It plays an critical role in enabling large institutions to access & mange risk.
The $1 Bn question - where does Genesis go from here? A thread on Prime brokers & Genesis
Twitter has broken just about every piece of this FTX story using blockchain analytics, while NYT is writing puff pieces on a criminal.
Feels like a turning point for citizen journalism and loss of trust in MSM.
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 https://t.co/BGtFlCmLXB and help cover the liquidity crunch. We will be conducting a full DD in the coming days.