Back to collectionA USD 9 billion appeal amid spreading fears
The day after the proposed rescue fell apart, the studio knew its money was not in FTX, but management still faced a sharp loss of confidence across the industry. FTX acknowledged a funding gap and sought USD 9 billion to survive, but found no buyer. The previous day’s finding that the studio had no FTX exposure answered only the most direct risk.
A creative chronicle combining project history with imagined scenes. Story events are not verification of network activity.
The day after the proposed rescue fell apart, the studio knew its money was not in FTX, but management still faced a sharp loss of confidence across the industry. The Night Watchman’s self-custody guide was circulating in the chat, where players’ questions had moved from “Can we withdraw?” to whether other institutions might be caught up in the crisis.
FTX acknowledged a funding gap and sought USD 9 billion to survive, but found no buyer. Names including BlockFi, Genesis and Grayscale filled the chat’s lists of possible contagion, leaving people anxious about their own exposure. BTC rebounded to USD 17,500, though the mood felt more like a brief chance to breathe. The Night Watchman separated unconfirmed claims about other institutions from public FTX news, while studio management began discussing which expenses had to be protected first.
The previous day’s finding that the studio had no FTX exposure answered only the most direct risk. Today’s lists showed how its partnerships and budget could still come under pressure. The Night Watchman planned to keep updating answers he could verify, while management needed to turn its call for careful spending into specific choices. The market rebound made none of those choices for them.