The Blubber

Binance Strategy Chief Patrick Hillmann Said It Only Took Two Hours of Due Diligence on FTX to Find Out It Couldn't be Saved
11/18/2022

Per CNBC

Binance Strategy Chief Patrick Hillmann said it only took him two hours of due diligence on FTX to determine that his company couldn't save the crypto exchange.

Hillmann: "It was like a bomb went off that place."

Hillmann described his call, saying people were crying and that Sam went completely silent as the "entire organization just fell to pieces." The Binance Strategy Chief also said they were always spending "more and more and more and more money," and he didn't understand where it came from.

Binance initially had 30 days to explore the deal, but it only took them one day to decide to exit.

Stay Updated

Subscribe to our newsletter for the latest financial insights and news.

Topics and Tags
Crypto
Earnings
Options Flow
Memes
Options calculator
TSLA
bid ask
buy to close
buy to open
bull call spread
congress
covid
energy
floor
government
hot tickers
insider knowledge
nasdaq
news
overbought
oversold
unusual options
weed
tastytrade logo+
With Unusual Whales
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get Unusual Whales Discounted when you deposit $2000 in your new tasty account.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.