{"id":541526,"date":"2023-01-20T23:00:00","date_gmt":"2023-01-20T20:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-biz-sbfs-newest-excel-spreadsheet-reveals-all\/"},"modified":"2023-01-20T23:00:00","modified_gmt":"2023-01-20T20:00:00","slug":"crypto-biz-sbfs-newest-excel-spreadsheet-reveals-all","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-biz-sbfs-newest-excel-spreadsheet-reveals-all\/","title":{"rendered":"# Crypto Biz: SBF\u2019s newest Excel spreadsheet reveals all"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35b22ec8e37\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35b22ec8e37\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-sbfs-newest-excel-spreadsheet-reveals-all\/#%E2%80%9D_Crypto_Biz_SBFs_newest_Excel_spreadsheet_reveals_all_%E2%80%9C\" >&#8221; Crypto Biz: SBF\u2019s newest Excel spreadsheet reveals all &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-sbfs-newest-excel-spreadsheet-reveals-all\/#FTX_It_took_%E2%80%98Herculean_investigative_effort_to_identify_55B_in_liquid_assets\" >FTX: It took \u2018Herculean investigative effort\u2019 to identify $5.5B in liquid assets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-sbfs-newest-excel-spreadsheet-reveals-all\/#Silvergate_reports_1B_net_loss_in_the_fourth_quarter_of_2022\" >Silvergate reports $1B net loss in the fourth quarter of 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-sbfs-newest-excel-spreadsheet-reveals-all\/#Digital_Currency_Group_halts_dividends_in_an_effort_to_preserve_liquidity\" >Digital Currency Group halts dividends in an effort to preserve liquidity<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-sbfs-newest-excel-spreadsheet-reveals-all\/#Hong_Kong_investment_fund_raises_500M_to_push_mass_adoption_in_Web3\" >Hong Kong investment fund raises $500M to push mass adoption in Web3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-sbfs-newest-excel-spreadsheet-reveals-all\/#Before_you_go_Is_Bitcoin_in_a_bull_run_or_bull_trap\" >Before you go: Is Bitcoin in a bull run or bull trap?<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Crypto_Biz_SBFs_newest_Excel_spreadsheet_reveals_all_%E2%80%9C\"><\/span>&#8221; Crypto Biz: SBF\u2019s newest Excel spreadsheet reveals all &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvY2VlODQ2ZWMtMjIxYy00YzdlLWFiN2YtOGRjODFjNDdlYTQ0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>Large enterprise businesses spend tons of money keeping track of their financial dealings \u2014 think accountants, financial analysts, consultants and enterprise-grade accounting software. Sam Bankman-Fried, meanwhile, used Microsoft Excel.\u00a0<\/p>\n<p>On Jan. 17, in another sloppy Excel spreadsheet, SBF revealed that FTX US was solvent. The Excel file purportedly showed customer balances, bank deposits and assets held in cold storage. \u201cS&amp;C forgot to include bank balances\u201d of roughly $428 million, SBF said, referring to FTX\u2019s former legal counsel Sullivan &amp; Cromwell. \u201cOnce you add those back in, you get in the neighborhood of my prior balance sheet\u201d of around $350 million, he said.<\/p>\n<p>This week\u2019s Crypto Biz explores the \u201cHerculean investigative effort\u201d to identify billions in liquid FTX assets. We also give you the latest on the ongoing Digital Currency Group saga. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"FTX_It_took_%E2%80%98Herculean_investigative_effort_to_identify_55B_in_liquid_assets\"><\/span>FTX: It took \u2018Herculean investigative effort\u2019 to identify $5.5B in liquid assets<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>SBF wasn\u2019t the only one seeking to unearth FTX\u2019s remaining balances. The bankrupt exchange\u2019s debtors have identified $5.5 billion in liquid assets, including $1.7 billion in cash, $3.5 billion in crypto assets and around $300 million in securities. \u201cWe are making important progress in our efforts to maximize recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information,\u201d said FTX CEO John Ray. Before you get too excited, know there is still a \u201csubstantial shortfall of digital assets,\u201d according to FTX\u2019s debtors. This means FTX users shouldn\u2019t expect to be made whole anytime soon.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Sharing the FTX Debtors\u2019 press release just issued: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/fcSs36nFmq\">https:\/\/t.co\/fcSs36nFmq<\/a><\/p>\n<p>\u2014 FTX (@FTX_Official) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FTX_Official\/status\/1615436790747348992?ref_src=twsrc%5Etfw\">January 17, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Silvergate_reports_1B_net_loss_in_the_fourth_quarter_of_2022\"><\/span>Silvergate reports $1B net loss in the fourth quarter of 2022<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fallout from crypto winter continues to reverberate across the industry, with digital asset bank Silvergate reporting a massive $1 billion net loss in the fourth quarter. In a report published by the United States Securities and Exchange Commission, Silvergate disclosed $7.3 billion of customer deposits in Q4, down from roughly $12 billion in the third quarter. After getting wind of the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>, credit rating agency Moody\u2019s Investors Service downgraded Silvergate\u2019s rating from Baa2 to Ba1. That\u2019s junk status for those of you keeping track. It\u2019s all starting to make sense why Silvergate laid off 40% of its staff in early January.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Despite the recently reported 70% drawdown in digital asset client deposits at Silvergate, NYDIG remains supportive of their business, adding deposits and continuing to utilized their SEN product.<\/p>\n<p>\u2014 NYDIG (@NYDIG) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/NYDIG\/status\/1615777983444418561?ref_src=twsrc%5Etfw\">January 18, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Digital_Currency_Group_halts_dividends_in_an_effort_to_preserve_liquidity\"><\/span>Digital Currency Group halts dividends in an effort to preserve liquidity<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The bad news surrounding Digital Currency Group, or DCG, continues to mount after the capital market company informed investors it would halt quarterly dividend payments indefinitely. It\u2019s no secret that DCG is facing liquidity constraints tied to its Genesis Global Trading subsidiary. The issues surrounding Genesis have been dragged out in public by Gemini co-founder Cameron Winklevoss, who penned a letter to DCG\u2019s board accusing the company of orchestrating \u201ca carefully crafted campaign of lies\u201d to hide the massive hole in Genesis\u2019 balance sheet. At last check, it was estimated that DCG owed its creditors over $3 billion. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Hong_Kong_investment_fund_raises_500M_to_push_mass_adoption_in_Web3\"><\/span>Hong Kong investment fund raises $500M to push mass adoption in Web3<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Month after month of \u201cdown only\u201d in crypto markets has left many of us jaded about the industry\u2019s future. But behind the scenes, venture capital continues to pour millions into promising crypto-focused use cases. This week, Hong Kong investment manager HashKey Capital announced a $500 million fund to support the future of Web3 adoption. The new FinTech Investment Fund III will invest primarily in projects at the intersection of blockchain infrastructure, toolings and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications that can harness Web3 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>. \u201cWeb3 is growing too fast to be ignored,\u201d HashKey investment director Xiao Xiao told Cointelegraph. \u201cMany traditional institutions and internet giants are interested in crypto. Some are learning how to participate in this paradigm shift.\u201d<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Before_you_go_Is_Bitcoin_in_a_bull_run_or_bull_trap\"><\/span>Before you go: Is Bitcoin in a bull run or bull trap?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Bitcoin\u2019s (BTC) price shot up more than 25% over the past week, marking its biggest seven-day rally in nearly two years. Naturally, investors are asking whether the bear market is over. Although there\u2019s a decent chance that Bitcoin has bottomed, I wouldn\u2019t get too excited about a prolonged bull rally just yet. In this week\u2019s <em>Market Report<\/em>, I sat down with fellow analysts Marcel Pechman and Joe Hall to discuss BTC\u2019s short and medium-term outlook. You can watch the full replay below.<\/p>\n<p><iframe loading=\"lazy\" title=\"Is this a bull run or a bull trap?\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/VKaBMM48fCY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><em>Crypto Biz is your weekly pulse of the business behind blockchain and crypto, delivered directly to your inbox every Thursday.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/crypto-biz-sbf-s-newest-excel-spreadsheet-reveals-all\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Crypto Biz: SBF\u2019s newest Excel spreadsheet reveals all &#8220; Large enterprise businesses spend tons of money keeping track of their financial dealings \u2014 think accountants, financial analysts, consultants and enterprise-grade accounting software. Sam Bankman-Fried, meanwhile, used Microsoft Excel.\u00a0 On Jan. 17, in another sloppy Excel spreadsheet, SBF revealed that FTX US was solvent. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":541527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/cee846ec-221c-4c7e-ab7f-8dc81c47ea44.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[90192,135234,89897,93542,117,71745],"class_list":["post-541526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-digital-currency-group","tag-ftx","tag-sam-bankman-fried","tag-web3","tag-business","tag-venture-capital"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/541526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=541526"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/541526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/541527"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=541526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=541526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=541526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}