In the last few days, it has been interesting to hear different big-money individuals talk about FTX and their involvement or lack thereof. What caught me off guard is how some individuals have been extremely forthcoming in their investments and what they knew the last few days of FTX. Kevin O'Leary also known as Mr. Wonderful has been one of those people and over the last few days has publicly discussed more and more about what he was told and how things played out at the end. 

From reading various posts and articles it seems that initially during the scramble FTX did have a shot with some of its large backers like Sequoia Capital coming together to help it fix the liquidity crunch. This fell apart though when the amount of money they (FTX) were asking for became apparent and those groups then stepped aside. While most would think this would be the end of the line for FTX rumor has it this was not and there was still hope. 

According to Mr. Wonderful during the scramble he talked to SBF (Mr. O'Leary has been upfront and transparent about his investments in FTX and several of its subsidies). Even when the number came out that FTX needed and needed ASAP it did not scare away any of these investors which is notable. Who were these investors and why did this number not bother them? Well, it is pretty easy it was Middle Eastern and Asian sovereign wealth funds. 

These wealth funds have the deepest pockets possible in the world and because of that, they could have taken on the risk. What doomed this though and thus FTX was a simple thing. The SEC and Department of Justice had caught wind of what was going on and were launching investigations into FTX and FTX.US over what was going on. Because of these investigations and how intrusive they can be the wealth funds that were open to investing went nope we do not want the US looking through our stuff this much. With that, the last resort of funding was gone and FTX and SBF were done for and now we are seeing how bad it truly was in that company.

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