Matt Levine, Columnist

FTX Is Planning a Comeback

Also Samcoin manipulation at Bitzlato customer support.

January 19, 2023 at 7:47 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Programming note: Money Stuff will be off tomorrow, back on Monday.

The basic situation at FTX Trading Ltd. is that a lot of people — retail customers but also institutional crypto traders — seem to have liked trading on FTX, but then FTX, and its affiliated trading firm Alameda Research, lost and/or stole their money. Hearing rumors of this, FTX’s customers asked to withdraw their money; the money wasn’t there, and FTX filed for bankruptcy.