analysis
Backpack had about 90% of its capital on FTX at collapse, says founder
0Importance
closedStatus
1News media
- Published
Key claims & sources
Summary in preparation.
Market reaction i
Backpack fell 0.9% in the 4 hours after the first headline, after rising 0.9% in the 2 hours before.
$1.16
price at the headline
+0.9%
2 h before
-0.9%
4 h after
-5.4%
12 h after
First headline
47 prices, one every 30 minutes · The move was larger before the first headline than after: an observation, not an explanation. The market also moves on things nobody publishes.
Coverage timeline
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
first
Crypto Briefing
scoop
Oct 21 20:43
Crypto Briefing
scoop
Breaks the event
Where this sits in the Backpack series
| When | What happened | Figure |
|---|---|---|
| 39 days ago | BP at $1.63 high | today it sits -46.6% from there |
| 6 days ago | BP at $0.8389 low | today it sits +3.8% from there |
From what we have stored, starting 45 days ago.