2022 (cont.) - The FTX Saga–9 Days In November

▪ November 2, 2022 -- CoinDesk released a report revealing that on Alameda’s balance sheet, $5.8 billion of its $14.6 billion in assets was $FTT, FTX’s self-minted utility token. Coindesk Article 11/2/2022

▪ November 6, 2022 -- Binance CEO tweets that “Due to recent revelations that have come to light, we have decided to liquidate any remaining FTT on our books.”

▪ November 7, 2022 -- SBF tweets “A competitor is trying to go after us with false rumors. FTX is fine. Assets are fine.” A second tweet states “FTX has enough to cover all client holdings. We don’t invest client assets (even in treasuries) . . .” SBF Deleted Tweets

▪ November 8, 2022 -- FTX pauses all customer withdrawals.

▪ November 8, 2022 -- Binance announces the signing of a non-binding LOI for acquisition of FTX.com.

▪ November 9, 2022 -- Binance announces that it will pursue the acquisition of FTX.com.

▪ November 10, 2022 -- FTX assets are frozen in the Bahamas.

▪ November 11, 2022 -- FTX files for bankruptcy.

▪ November –January 2023 – FTX Fallout – Crypto exchanges Blockfi, Genesis have significant exposure to FTX and ultimately file for bankruptcy.