Tencent Commentator
Rate Of ReturnTo add one more point, strictly speaking, this might not even count as Leopold's first "margin call." Leopold previously worked at FTX Future Fund, the fund of FTX. FTX was the world's second-largest cryptocurrency exchange (second only to Binance) that ultimately collapsed during the previous crypto bear market. Due to the scandal of misappropriating customer funds exposed by FTX, it went bankrupt, and FTX Future Fund, which relied on FTX's capital, also shut down.
Leopold is the same age as me, yet he has already had so many legendary experiences.
God-like in June, liquidated in July: After Leopold fell, Citadel completed an overly perfect takeover.
In June this year, Leopold Aschenbrenner was still one of Wall Street's most sought-after young fund managers. His portfolio was widely shared, with investors scrambling to figure out why he bought into storage, data centers, power equipment, and companies shifting from Bitcoin mining to AI computing power. Some turned his 13F filings into spreadsheets, while others scanned his holdings for the "next big AI infrastructure stock." The media loved calling him the "AI Prophet" or the "God of AI Stocks." But by late July, the news suddenly changed: Leopold got margin-called...
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