Every time I see that picture on a topic about insolvency I think of some guy laughing while carrying an axe behind his back.
In some context, that picture is really creepy.
FTX and its American entity FTX US are both fundraising, according to people familiar with the matter who aren’t authorized to discuss ongoing discussions. FTX is targeting a round at essentially the same valuation as its January fundraising, the people said. In January, FTX announced it raised $400 million at $32 billion valuation, while FTX US raised a separate $400 million at an $8 billion valuation.
Fundraising doesn't mean he is insolvent or he is out of money, maybe he wants to play it safe by risking less of his wealth and more of the investor's money or maybe he is just using his personal funds for other deals behind the scene.
Anyhow, that 32 billion evaluation is just crazy, a lot of vaporware there, and also, just funny, who is editing those Wikipedia texts?
FTX was founded for the purpose of generating as much wealth as possible to be used for charitable causes following the earning to give principle of effective altruism.[8]
