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Comment by dibt | Hacker News Reader

We (the public) don't yet know how bad it is. CEO of Coinbase, Brian Armstrong said he was also not interested in an acquisition after a small amount of DD. He said we will likely find out how bad it is eventually.

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> not interested in an acquisition after a small amount of DD

Sounds like liabilities exceeded assets

Judging by the Alameda leaked balance sheet, a huge part of assets and probably more than 100% of equity was in FTT which is now essentially worthless

If we had one for binance, it would show a ridiculous amount of tether and other coins which they probably own a majority of, meaning their balance sheet is similarly comprised of assets they can't actually price or expect to be able to sell at market value

Tether can be liquidated via the Tether Foundation.

And surely the buck stops with the Tether Foundation, who stand ready to cash Binance out, and they won't need to dump a bunch of risky assets and possibly not net enough to meet Binance's needs

How do you know this? was googling around but didn't find much of anything

There's a balance sheet floating around: https://docs.google.com/spreadsheets/d/1dSG6ER9N_YABnmUKzKae...

Source: https://twitter.com/cobie/status/1590384255091499008

Could be fake.

Edit: Looks like the parent commenter was referring to Binance's balance sheet, which might be what you were asking about. The balance sheet I linked is FTX+Alameda.

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