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SBF
@SBF_FTX
Replying to
@SBF_FTX
17) And we also feel some weak sense of duty towards partners, independent of anything else. One was in a bad position recently. We talked through it, and adjusted our lockup, and did what we could.
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SBF
@SBF_FTX
18) Another thing worth mentioning: We try to find partnerships. We look for places where a Serum integration would be mutually beneficial, or other ways to work together. In the end our goal isn't just buy low-sell high. If possible, it's to leave both sides better off.
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SBF
@SBF_FTX
19) What are examples? HNT: cool project, huge upside, good partial progress, good price. But -- less certain on tokenomics and community. AVAX: legit chain, has a chance to get huge. SUSHI: high token revenue / market cap, building cool stuff. But, terrible sentiment.
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SBF
@SBF_FTX
20) And many more: ALPHA, TOMO, UBXT, CREAM, COMP, LEND, BAL, SXP, SUSHI, BTMX, BNB, HT, OKB, LEO... So should you go buy these? IDK! Maybe not. But why not, if we did? THERE ARE REALLY GOOD REASONS NOT TO.
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SBF
@SBF_FTX
21) First, we liked the price *we* bought at. But that might not be the current price! You don't know when we bought. Second, sometimes great projects don't go up. Sushiswap did lots of impressive things, and SUSHI kept going down.
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SBF
@SBF_FTX
22) Maybe it's strategic, or maybe it's longer timescale, or maybe it's huge upside/low probability. Or maybe it got unlucky. Or maybe we were just wrong.
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SBF
@SBF_FTX
23) But in general, the patterns are: a) huge upside b) really cool project c) great team d) partnership potential We do a lot of judgement calls. Like: [A] $1b of burns, $5b daily volume [B] 0 revenue, $300m incentivized daily volume B has > mkt cap than A.
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SBF
@SBF_FTX
24) If you are in the US, this might feel uncomfortable or wrong. If you're elsewhere, you might be thinking 'obviously'. But we're all one world. Anyway I wrote that, reflected, and started getting longer [A].
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SBF
@SBF_FTX
25) FTT, SRM, and SOL are in their own category. There are projects we invest in. Projects we support. And then projects we'll fight like hell for. We don't believe in them because we're long. We're long because we believe in them. When we have conviction -- we buy.
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SBF
@SBF_FTX
26) but this is NOT INVESTMENT ADVICE. Even when we really care -- sometimes tokens go down. We can't stop that. We'll do what we can, and focus on the long term building. Not on the short term price action.
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SBF
@SBF_FTX
Replying to
@SBF_FTX
28) for NOT TRADING ADVICE, see here:
Quote Tweet
Sam Trabucco
@AlamedaTrabucco
Given that Alameda is a *trading* company first and foremost, I thought I’d share some thoughts on how we think about trading (in contrast to Sam’s thread about how we think about investing longer-term). twitter.com/SBF_FTX/status…
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Fei
@FeiStrife
Replying to
@SBF_FTX
and
@SBF_Alameda
if you live by the mantra; "numbers go up, numbers go down" it gets alot easier to deal with market swings...both ways try it out sometime...its fucking zen.
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