Why Crypto Twitter May Be Wrong About FTX's Business

Sunil Kavuri, an FTX creditor with a financial background, talks about the valuation of FTX, the lawsuit he filed against the exchange, and much more.

In today's premium interview, I talk with Sunil Kavuri, an FTX creditor. Sunil believes that FTX’s profitability has been misreported and that there’s potential for FTX to have a fresh start.

A quick note: The interview was recorded before news broke out that FTX recovered $5 billion in assets, which may be another reason for optimism.

Show highlights:

• whether FTX and Alameda's losses are as high as $3.7 billion

• FTX's real implied value, according to Sunil

• how FTX's revenue was almost $1 billion in 2021 and the crazy investments in celebrity endorsements

• the options for John Ray III, the new CEO of FTX, and why it makes "no sense to liquidate the business"

• whether there is a potential to restart the business and whether other people in the creditor committee want to revive the exchange

• the challenges of putting an actual number on FTX's financial hole

• Sunil's background in economics and finance

• how FTX was portrayed as "safer than a bank"

• the reasons why Sunil filed a lawsuit against FTX