Opinion
The crypto coin that explains why FTX failed
A balance sheet for Sam Bankman-Fried’s FTX exchange grossly overstated its assets.
Aaron PatrickSenior correspondentHave you ever seen an earnest mea culpa and a blatant misrepresentation in a one-page Excel spreadsheet?
If the answer’s no, and you’re curious, check out the rough balance sheet sent to potential buyers of the FTX crypto exchange last week that’s floating around the internet.
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Aaron Patrick is the senior correspondent. He writes about politics and business from the Sydney newsroom. Email Aaron at apatrick@afr.com
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