Bitcoin is having a decent day to day as it climbs $600 and trades back above $17,000. There's a time trade in effect here as every minute that a crypto-exchange domino doesn't fall indicates that contagion has stopped. So no news is good news but that could change any moment with plenty of eyes on crypto.com after the recent SNAFU transferring ETH to the wrong account.
Meanwhile, Sam Bankman-Fried -- undoubtedly against the advice of his lawyers -- is doing some damage control on twitter and wrote this.
To the best of my knowledge, as of post-11/7, with the potential for errors:
a) Alameda had more assets than liabilities M2M (but not liquid!)
b) Alameda had margin position on FTX Intl
c) FTX US had enough to repay all customers
Not everyone necessarily agrees with this
The mark-to-market comment is a minefield unto itself because the investments were in illiquid, crypto-related ventures. It's tough to imagine that any of those marks were realistic, and certainly not now. The whole house of cards began to come down on the initial revelations that Alameda's balance sheet was heavily exposed to FTT, which is the coin FTX created.
Sam Bankman-Fried also hasn't addressed the balance sheet at FTX, which was obtained by the media and showed about $900m in relatively liquid assets and $9b in liabilities.