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  "documentTitle": "BlockFi | Investor Conference Presentation Deck | 45 slides",
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  "authorName": "BlockFi",
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  "presentationDate": "2022-11-01 00:00:00",
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      "text": "Crypto World Is Rocked as World's Largest Exchange Rescues Rival\nThe New York Times - November 8, 2022",
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      "text": "As part of Binance's exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books. 1/4",
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      "text": "In the beginning, our hope was to be able to support FTX's customers to provide liquidity, but the issues are beyond our control or ability to help.",
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      "text": "As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com.",
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      "text": "On 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 token.(1) The report initiated a death spiral for FTT during the first 11 days of November.",
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      "text": "(1) lan Allison, Divisions in Sam Bankman-Fried's Crypto Empire Blur on His Trading Titan Alameda's Balance Sheet, CoinDesk (Nov. 2, 2022).",
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      "text": "FTX & Binance",
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      "evidence": "Details on BlockFi's actions and responses to the challenges.",
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