Sam Bankman-Fried publishes a Substack post offering his account of how FTX collapsed, sticking to his claims of innocence even after ex-executives pled guilty
think there shouldn't be a paying option anymore... Dave Weisberger / @daveweisberger1 : https://www.wsj.com/... It is tiresome to read SBF's half truths. 1/ His claims about Binance are ludicrous. The roughly $8 BILLION in FTT/SRM tokens that they helped vaporize weren't EARNED by Alameda, but rather were given to offset Alameda trading/investment losses. Caitlin Ostroff / @ceostroff : .@SBF_FTX has taken to Substack for his new tell-all. Free with the option of paying him. https://www.wsj.com/... https://twitter.com/... Caitlin Long / @caitlinlong_ : Anybody see any contrition anywhere here??? “From Dostoevsky: ‘If he has a conscience, he will suffer for his mistake. That will be his punishment—as well as his prison.’” —the @PuckNews article yesterday But, again, what if he has no conscience??? https://www.wsj.com/... @wassielawyer : 1/ I want to begin this thread by stating unequivocally that @SBF_FTX using customer assets to provide a line of credit to Alameda was illegal and indefensible. That said - I find some points in SBF's account in the lead-up to the Ch 11 filing somewhat believable and disturbing. https://twitter.com/... @autismcapital : In others news, Sam started a Substack to publicly workshop his defense by monitoring the points brought up in outrage tweets to plug the holes in his argument. We'd be more interested in an OnlySams. https://twitter.com/... @om : You know this a*****e is trying to pollute the jury pool everywhere and hoping for a series of mistrials. Helps to have legal eagles for parents to devise devious strategies. FFS!!!! https://www.techmeme.com/... Christopher Bloomstran / @chrisbloomstran : Jesus Christ, Bill. The “Kid” explains that he was running a Ponzi scheme: “...raise enough financing to make customers substantially whole.” Strange optics to be championing this guy. I'd stick to bashing Coke and Pepsi. https://twitter.com/... https://twitter.com/... Osaretin Victor Asemota / @asemota : “In November 2022, an extreme, quick, targeted crash precipitated by the CEO of Binance made Alameda insolvent.” God punish CZ https://twitter.com/... Hotep Jesus / @hotepjesus : If I'm reading this correctly SBF is throwing his GF under the bus. Is that about right? https://twitter.com/... Edward Ongweso Jr / @bigblackjacobin : Become a founding member for $1000/yr to help replenish FTX customer funds https://twitter.com/... Trung Phan / @trungtphan : No holds barred:1) “I didn't steal funds” and 2) “I believe that dh FTX International were to reboot, there would be a real possibility of customers being made substantially whole” 🔗 https://sambf.substack.com/... https://twitter.com/... Udi Wertheimer / @udiwertheimer : Amazing to me that @SBF_FTX is still comparing FTX to lenders like BlockFi, Voyager, and Celsius, who lent out customers funds with poor risk management. FTX shouldn't have been lending out customer funds AT ALL, regardless of risk management. Yes, funds WERE stolen Sam. https://twitter.com/... Daniel Castro / @castrotech : Cool. Now you can use Substack to beta test your legal defense. https://sambf.substack.com/... @digitallawrence : I have just asked GPT3 to analyze Sam's most recent blog post - totaling almost 4k words. https://sambf.substack.com/... Here is the result: https://twitter.com/... Stephen Diehl / @smdiehl : The part where he compares his Ponzi to Lehman and LTCM is pretty rich. https://sambf.substack.com/... @evan_lorenz : SBF is what stupid people think smart people should sound like. It's not surprising that this shtick suckered in a lot of people -this happens all the time- but it is surprising that these antics still work on some people. @bowtiednightowl : You can tell SBF misses the action. It appears life can become quite boring and drab when you're not defrauding millions of people. @davidgerard : SBF will become the first man to post his way to getting the death penalty in an SEC civil action M.G. Siegler / @mgsiegler : In just a few short years we've gone from an era of 'Why I'm Leaving My City' posts to 'Why I'm Leaving My Job' posts to 'Why I'm Innocent of Committing Massive Fraud' posts. https://twitter.com/... Teddy Schleifer / @teddyschleifer : I wrote the other day that Sam Bankman-Fried believes deeply that the traditional crisis comms textbook is dead. The decision to release this says it all better than I could. https://twitter.com/... Austen Allred / @austen : When you're facing decades in prison but decide you'll just post through it. My heart goes out to SBF's lawyers. https://twitter.com/... @iamdcinvestor : let's not forget SBF was loaning your deposits to his personal trading firm Alameda (in violation of FTX ToS) and also paying you zero for the risks you didn't even know he was taking with your funds unequivocally criminal and much worse than the comparisons he cites https://twitter.com/... Leo Schwartz / @leomschwartz : Interesting piece from @stephanie_murr on how SBF is going to pay for his massive legal bills, especially with his former company and the DOJ going after his assets (The answer, of course, is subscriptions to his new Substack) https://www.theblock.co/... Robert Smith / @bondhack : “I am dedicating nearly all of my personal assets to customers” - apologies I have momentarily misplaced my retinas as my eyes rolled back into my head https://sambf.substack.com/... Jessica Nutt / @jessicanutt96 : Another day another billionaire doubling down on being a complete moron. Reminder that success in America is all about luck, therefore marginal rates of taxation should be much higher https://twitter.com/... Scott Nover / @scottnover : You absolutely have to respect SBF for one thing: his unbridled commitment to posting https://twitter.com/... @wassielawyer : 2/ Specifically - I am referring to the allegations around how S&C shadow-ran the Chapter 11 process together with the FTX GC - an ex S&C partner. When JR3 was appointed, the question I asked was - where the hell did SBF find this guy? How does a 30 year old crypto founder... @wassielawyer : 5/ We can take SBF's allegations as to S&C's alleged conduct with a grain of salt but I would be lying if I could say with certainty that S&C /Ryne Miller was not motivated something by other than creditor interests when applying pressure on SBF. @alex : Straight wild how this is playing out - also notable brand equity for substack here as the platform of choice for sbf https://t.co/0oa8KD3Wqt Joe Weisenthal / @thestalwart : One of the details in SBF's substack post that's genuinely interesting is that Alameda used a short $QQQ position as a hedge. Byrne Hobart / @byrnehobart : Interesting crypto blog post just dropped: https://sambf.substack.com/... Hany Rashwan / @hany : I usually prefer reading non-fiction, but I made an exception today for a hilarious fictional essay authored by the one and only @SBF_FTX; why have his lawyers not taken away his phone yet?? https://twitter.com/... @kadhim : SBF says he's willing to ‘contribute’ his Robinhood shares to FTX customers. He bought the shares with money borrowed from Alameda, the former CEO of which pleaded guilty to stealing much of its money from FTX customers. https://twitter.com/... https://twitter.com/... Gergely Orosz / @gergelyorosz : I stay away from crypto, but SBF digging his own grave deeper is hard to gloss by. While prosecuted, conventional wisdom is to discuss with your lawyers, and don't offer more evidence for the prosecutor. SBF is handling these on a golden plate. https://sambf.substack.com/... Gergely Orosz / @gergelyorosz : While Substack has been growing very much, and “starting a Substack” these days is the “starting a Medium” in 2015 and “starting a blog” in 2010, I still did not expect SBF - the man sued for what looks like a ~$8B crypto fraud - to start a Substack. But he has. https://twitter.com/... Renato Mariotti / @renato_mariotti : It looks like SBF is determined to talk as much as possible about his own criminal case on his own Substack. Apparently he hasn't learned from his past mistakes. https://twitter.com/... @crypthoem : Sam is building a powerful personal brand, how you ask? 1: Blow up the second largest CEX 2: Become household name globally 3: Gain millions of followers on Twitter 4: Expand reach with a newsletter Take notes of the above to reach your growth goals in 2023. https://twitter.com/... @sbf_ftx : @QuintenFrancois wait FTX definitely wasn't spending $180m/year on Amazon delivery costs I think your units are probably off somewhere there? Cas Piancey / @caspiancey : Remember when SBF was relentlessly doing interviews and repeating the same shitty excuses over and over and over again? Well now he has a substack so you can read those exact same excuses and pay for them. No lawyer will work with this guy, bet his current lawyer walks. Tiffany Fong / @tiffanyfong_ : On his newly-launched blog, SBF maintains he did not steal customer funds & that FTX US is 100% solvent. Here's the link if you're curious.🤷🏻 ♀️ https://sambf.substack.com/ @compound248 : That attack by CZ the Meanie made Alameda insolvent. Naughty CZ. https://twitter.com/... @compound248 : SBF claims Alameda (Sam's personal account) ended 2021 with nearly ONE HUNDRED BILLION OF NET ASSET VALUE. 👀 Holy. Shit. I had to read three times. $100,000,000,000 is the claim. “Marked to market...by my model.” In case anyone wonders, Compound248 is worth $100 trillion. https://twitter.com/... @compound248 : FTX and Almeida were both “legitimately” profitable in 2021 (better than illegitimately profitable!). In the billions each. But Almeida lost at least 80%!! In 2022. Whoops! https://twitter.com/... @compound248 : Claim: FTX US was solvent and had $350mm in cash in excess of client assets. https://twitter.com/... @compound248 : Then @cz_binance attacked us. It wasn't a crypto crash - it was a targeted attack on me and FTX. Waa waa 😭 https://twitter.com/... Alex Kantrowitz / @kantrowitz : SBF's Parents: We're putting our house and reputation on the line for your defense SBF: I'm starting a Substack Wu Blockchain / @wublockchain : He stated that FTX US remains fully solvent and that FTX International has billions of dollars in assets. In 2022, Alameda failed to fully hedge its market risks, causing its asset market value to drop by about 80%. Wu Blockchain / @wublockchain : SBF issued a long article to continue to criticize that Binance CEO CZ contributed to the collapse of Alameda's insolvency, but he did not give any explanation for the misappropriation of customer assets. https://t.co/LlJ1Vrifjd @seyitaylor : I've said over and again that I was not convinced Bankman-Fried would end up in jail until he opened his mouth. https://sambf.substack.com/... Christopher Torres-Lugo / @christorreslugo : Has anyone called a wellness check on SBF's lawyers? https://sambf.substack.com/... @bee_are_ : [legal team shrieking intensifies] https://sambf.substack.com/... Demetri Kofinas / @kofinas : Sam's constant need to communicate and be liked has ironically destroyed any chance he ever had of getting a light sentence. Spending the rest of his life without a phone is probably going to be the worst punishment imaginable for someone like this. https://sambf.substack.com/... https://twitter.com/... Alex Kantrowitz / @kantrowitz : Can't wait for SBF to write the next installment in the Twitter Files https://twitter.com/... @basedkarbon : @SBF_FTX ... Too late. I already pledged my support 🫡 Jacob Silverman / @silvermanjacob : Never seen anything like this. Not quite “If I Did It” territory but it's bold. https://sambf.substack.com/... @cameronmoulene : I read this Bs until this “JUST AN ESTIMATE” spreadsheet 🫠 1) wtf is a “less liquid asset” 2) operating at a net liquid -8b in the bull...🤦♂️ https://twitter.com/... https://twitter.com/... Laurence / @functi0nzer0 : Releasing this 25 minutes before the CPI is a hilariously cruel move https://twitter.com/... Defi Guy / @0xshittrader : SBF reveals his plan to make users whole. 10,000,000 Substack subscribers x $100 / subscriber / year x 10 years = $10,000,000,000 (amount stolen by FTX, from FTX traders) https://twitter.com/... @0xquit : That's the issue here. BlockFi, Genesis, Celcius et al were custodial lending services. We expect them to lend funds, and, as a result accept the risk of insolvency. An exchange should match orders, and back customer funds. That's all. @emptywheel : On the one hand, if SBF were a poor Black man accused of robbing some bodegas, he'd likely be in jail pre-trial. On the other hand, prosecutors are probably licking their chops that SBF has decided to SubStack his way through pre-trial release. @josephpolitano : NOT NOW CRIME GUY WE HAVE CPI IN 7 MINUTES https://twitter.com/... Dave Lauer / @dlauer : See this is just so disingenuous. Credit Suisse is engaged in fractional reserve banking - an exchange should be fully collateralized. He conveniently neglects to mention Alameda not being included in margin calcs & the accounting tricks to keep or move customer funds to Alameda. https://twitter.com/... @coloradotravis : Christ, SBF has a substack. Guess the whole substack wave is over now. https://twitter.com/... @iamdcinvestor : it's hilarious how much @SBF_FTX is trying to manage his own public perception (while potentially incriminating himself further) given the charges against him judges and juries won't care bro, and no one else believes you extreme narcissist to the n'th degree Alexandra Scaggs / @alexandrascaggs : if i were arrested and charged with multiple kinds of fraud i would simply stop writing and read more books Kyla Scanlon / @kylascan : sometimes i wonder if we are just dreaming everything because often things do pass the bounds of what might be considered reality https://twitter.com/... @iamdcinvestor : his own employees and best friends actually taking deals to flip on him to the Feds, and he's out here writing blog posts like it was still all some big misunderstanding lmao @metalawman : Lengthy statement from SBF just released. He says Sullivan & Cromwell was one of FTX Trading's 2 primary law firms, and the primary law firm for https://ftx.us/. If any of this is accurate, it is difficult to imagine a scenario where S&C continues as Debtors' counsel. https://twitter.com/... @ivanthek : Is SBF fine-tuning his insanity defense? @zerohedge : SBF: “I didn't steal funds, and I certainly didn't stash billions away” That's odd, because all of your former coworkers now say you did Joseph / @joepwilliams31 : What is SBF eating?!? Subscribe to find outS https://twitter.com/... Ryan Sξan Adams / @ryansadams : Sam's new substack post is gross. Blaming everyone but himself. I wish we could leave this guy in 2022.
The later trial record put the same explanation under sharper scrutiny: Bankman-Fried said he understood only pieces of the companies' financial condition and was surprised by FTX's balance-sheet hole. The post matters as an early, public version of that defense.
First-order effects
Bankman-Fried gains an unfiltered forum to state his account of FTX's collapse, but the assertions immediately compete with guilty pleas by former executives and criticism from reporters and commentators.
Former FTX and Alameda executives who pleaded guilty become the most consequential counterweight to Bankman-Fried's public narrative.
Second-order effects
The conflict between Bankman-Fried's account and the insiders' pleas concentrates attention on who controlled risk management, customer funds and Alameda's role, rather than on the former CEO's account alone.
Substack becomes part of the evidentiary and reputational record around FTX: a venue for Bankman-Fried's defense, but also a durable text for critics to compare with later testimony.
Third-order effects
If high-profile exchange collapses continue to be fought through founder-led public narratives, credibility around custody and risk controls will become as central to crypto platforms' legitimacy as their technical claims.
The FTX episode points to a market in which personal accountability by platform leaders is harder to separate from the trust users place in the platform itself.
The trend: Crypto's legitimacy gap is widening as failed platforms' founders use direct publishing to contest accounts that former insiders and legal proceedings challenge.
@wassielawyer yup my sense is that is and always has been the best recovery scenario for customers. I think that them being made substantially whole is a real possibility; I think we were possibly a few weeks away from getting there in November. (US is solvent, should make everyo…
In a 2,000 word essay just published, SBF states that “FTX joined Voyager, Celsius, BlockFi, Genesis, Gemini, and others that experienced collateral damage from the liquidity crunch of their borrowers.” How hard is it to admit that your exchange shouldn't have borrowers?
Holy shit - @SBF_FTX just launched a Substack! Lol Issue 1 highlights below. 👇 BTW, should I join the Founding Tier for only $150/year? I'm stealing from SBF at that price. Downside: can't pay in crypto... missed opportunity to create an $FTT use case. https://twitter.com/... htt…
“Unfortunately, the DOJ moved to arrest me the night before, preempting my testimony with an entirely different news cycle.” from SBF substack just out https://sambf.substack.com/...
Holy smokes he basically confesses to everything (....unintentionally?) while also trying to throw caroline and CZ under the bus. SBF is completely forked if he actually goes to a fair trial. https://sambf.substack.com/...
This dude CODED IN A BACK DOOR that allowed his other firm an endless credit supply using customer funds, and just compulsively can't shut his damn mouth. This is what happens when privilege shields you from consequences your whole damn life. https://twitter.com/...
This is amazing! In the same article, SBF both states that he hasn't run Alameda for years and wasn't involved, yet recreates their balance sheet over several time periods from memory... https://twitter.com/...
https://www.wsj.com/... It is tiresome to read SBF's half truths. 1/ His claims about Binance are ludicrous. The roughly $8 BILLION in FTT/SRM tokens that they helped vaporize weren't EARNED by Alameda, but rather were given to offset Alameda trading/investment losses.
Anybody see any contrition anywhere here??? “From Dostoevsky: ‘If he has a conscience, he will suffer for his mistake. That will be his punishment—as well as his prison.’” —the @PuckNews article yesterday But, again, what if he has no conscience??? https://www.wsj.com/...
1/ I want to begin this thread by stating unequivocally that @SBF_FTX using customer assets to provide a line of credit to Alameda was illegal and indefensible. That said - I find some points in SBF's account in the lead-up to the Ch 11 filing somewhat believable and disturbing. …
In others news, Sam started a Substack to publicly workshop his defense by monitoring the points brought up in outrage tweets to plug the holes in his argument. We'd be more interested in an OnlySams. https://twitter.com/...
You know this a*****e is trying to pollute the jury pool everywhere and hoping for a series of mistrials. Helps to have legal eagles for parents to devise devious strategies. FFS!!!! https://www.techmeme.com/...
Jesus Christ, Bill. The “Kid” explains that he was running a Ponzi scheme: “...raise enough financing to make customers substantially whole.” Strange optics to be championing this guy. I'd stick to bashing Coke and Pepsi. https://twitter.com/... https://twitter.com/...
No holds barred:1) “I didn't steal funds” and 2) “I believe that dh FTX International were to reboot, there would be a real possibility of customers being made substantially whole” 🔗 https://sambf.substack.com/... https://twitter.com/...
Amazing to me that @SBF_FTX is still comparing FTX to lenders like BlockFi, Voyager, and Celsius, who lent out customers funds with poor risk management. FTX shouldn't have been lending out customer funds AT ALL, regardless of risk management. Yes, funds WERE stolen Sam. https://…
I have just asked GPT3 to analyze Sam's most recent blog post - totaling almost 4k words. https://sambf.substack.com/... Here is the result: https://twitter.com/...
SBF is what stupid people think smart people should sound like. It's not surprising that this shtick suckered in a lot of people -this happens all the time- but it is surprising that these antics still work on some people.
In just a few short years we've gone from an era of 'Why I'm Leaving My City' posts to 'Why I'm Leaving My Job' posts to 'Why I'm Innocent of Committing Massive Fraud' posts. https://twitter.com/...
I wrote the other day that Sam Bankman-Fried believes deeply that the traditional crisis comms textbook is dead. The decision to release this says it all better than I could. https://twitter.com/...
let's not forget SBF was loaning your deposits to his personal trading firm Alameda (in violation of FTX ToS) and also paying you zero for the risks you didn't even know he was taking with your funds unequivocally criminal and much worse than the comparisons he cites https://twit…
Interesting piece from @stephanie_murr on how SBF is going to pay for his massive legal bills, especially with his former company and the DOJ going after his assets (The answer, of course, is subscriptions to his new Substack) https://www.theblock.co/...
“I am dedicating nearly all of my personal assets to customers” - apologies I have momentarily misplaced my retinas as my eyes rolled back into my head https://sambf.substack.com/...
Another day another billionaire doubling down on being a complete moron. Reminder that success in America is all about luck, therefore marginal rates of taxation should be much higher https://twitter.com/...
2/ Specifically - I am referring to the allegations around how S&C shadow-ran the Chapter 11 process together with the FTX GC - an ex S&C partner. When JR3 was appointed, the question I asked was - where the hell did SBF find this guy? How does a 30 year old crypto founder...
5/ We can take SBF's allegations as to S&C's alleged conduct with a grain of salt but I would be lying if I could say with certainty that S&C / Ryne Miller was not motivated something by other than creditor interests when applying pressure on SBF.
I usually prefer reading non-fiction, but I made an exception today for a hilarious fictional essay authored by the one and only @SBF_FTX; why have his lawyers not taken away his phone yet?? https://twitter.com/...
SBF says he's willing to ‘contribute’ his Robinhood shares to FTX customers. He bought the shares with money borrowed from Alameda, the former CEO of which pleaded guilty to stealing much of its money from FTX customers. https://twitter.com/... https://twitter.com/...
I stay away from crypto, but SBF digging his own grave deeper is hard to gloss by. While prosecuted, conventional wisdom is to discuss with your lawyers, and don't offer more evidence for the prosecutor. SBF is handling these on a golden plate. https://sambf.substack.com/...
While Substack has been growing very much, and “starting a Substack” these days is the “starting a Medium” in 2015 and “starting a blog” in 2010, I still did not expect SBF - the man sued for what looks like a ~$8B crypto fraud - to start a Substack. But he has. https://twitter.c…
It looks like SBF is determined to talk as much as possible about his own criminal case on his own Substack. Apparently he hasn't learned from his past mistakes. https://twitter.com/...
Sam is building a powerful personal brand, how you ask? 1: Blow up the second largest CEX 2: Become household name globally 3: Gain millions of followers on Twitter 4: Expand reach with a newsletter Take notes of the above to reach your growth goals in 2023. https://twitter.com/.…
Remember when SBF was relentlessly doing interviews and repeating the same shitty excuses over and over and over again? Well now he has a substack so you can read those exact same excuses and pay for them. No lawyer will work with this guy, bet his current lawyer walks.
On his newly-launched blog, SBF maintains he did not steal customer funds & that FTX US is 100% solvent. Here's the link if you're curious.🤷🏻 ♀️ https://sambf.substack.com/
SBF claims Alameda (Sam's personal account) ended 2021 with nearly ONE HUNDRED BILLION OF NET ASSET VALUE. 👀 Holy. Shit. I had to read three times. $100,000,000,000 is the claim. “Marked to market...by my model.” In case anyone wonders, Compound248 is worth $100 trillion. https:/…
FTX and Almeida were both “legitimately” profitable in 2021 (better than illegitimately profitable!). In the billions each. But Almeida lost at least 80%!! In 2022. Whoops! https://twitter.com/...
He stated that FTX US remains fully solvent and that FTX International has billions of dollars in assets. In 2022, Alameda failed to fully hedge its market risks, causing its asset market value to drop by about 80%.
SBF issued a long article to continue to criticize that Binance CEO CZ contributed to the collapse of Alameda's insolvency, but he did not give any explanation for the misappropriation of customer assets. https://t.co/LlJ1Vrifjd
Sam's constant need to communicate and be liked has ironically destroyed any chance he ever had of getting a light sentence. Spending the rest of his life without a phone is probably going to be the worst punishment imaginable for someone like this. https://sambf.substack.com/...…
I read this Bs until this “JUST AN ESTIMATE” spreadsheet 🫠 1) wtf is a “less liquid asset” 2) operating at a net liquid -8b in the bull...🤦♂️ https://twitter.com/... https://twitter.com/...
SBF reveals his plan to make users whole. 10,000,000 Substack subscribers x $100 / subscriber / year x 10 years = $10,000,000,000 (amount stolen by FTX, from FTX traders) https://twitter.com/...
That's the issue here. BlockFi, Genesis, Celcius et al were custodial lending services. We expect them to lend funds, and, as a result accept the risk of insolvency. An exchange should match orders, and back customer funds. That's all.
On the one hand, if SBF were a poor Black man accused of robbing some bodegas, he'd likely be in jail pre-trial. On the other hand, prosecutors are probably licking their chops that SBF has decided to SubStack his way through pre-trial release.
See this is just so disingenuous. Credit Suisse is engaged in fractional reserve banking - an exchange should be fully collateralized. He conveniently neglects to mention Alameda not being included in margin calcs & the accounting tricks to keep or move customer funds to Alameda.…
it's hilarious how much @SBF_FTX is trying to manage his own public perception (while potentially incriminating himself further) given the charges against him judges and juries won't care bro, and no one else believes you extreme narcissist to the n'th degree
sometimes i wonder if we are just dreaming everything because often things do pass the bounds of what might be considered reality https://twitter.com/...
his own employees and best friends actually taking deals to flip on him to the Feds, and he's out here writing blog posts like it was still all some big misunderstanding lmao
Lengthy statement from SBF just released. He says Sullivan & Cromwell was one of FTX Trading's 2 primary law firms, and the primary law firm for https://ftx.us/. If any of this is accurate, it is difficult to imagine a scenario where S&C continues as Debtors' counsel. https://twi…
So SBF has written a “pre-mortem” to try to explain away the theft of FTX customer assets. It's worth a read, but of course keep in mind even if true (which is highly unlikely), theft is theft - it doesn't matter how you explain it away or justify it. https://sambf.substack.com/.…
“I didn't steal funds, and I certainly didn't stash billions away.” In a lengthy post on a new Substack, Sam Bankman-Fried gives his account of what he claims happened to FTX: https://sambf.substack.com/...
@Techmeme @ShenLucinda this seems like a well-calculated stance from the very beginning! perhaps with counsel from his lawyer parents ?? @DavidSacks @chamath
Imagine trying to hedge idiosyncratic crypto risk via a QQQ short. Thought you held the most sought after private equity on the market at the time, fella? https://twitter.com/...
SBF making up arbitrary numbers for balance sheet positioning, casually rounding off billions in customer deposits despite recognizing he has no access to the accurate figures. Generally just copy pasting the rhetoric from prior statements. Not worth reading. Just blanket lies. h…
He's suing to get control of the robinhood shares to pay for his legal defense. This is matter of public record. What a stupid lie https://t.co/xo8q5Qs0FL
Just a very normal Substack from a guy out on $250 million bail facing multiple counts of fraud involving several billion dollars. Not too long ago you still had people stuck in jail for possession of marijuana. This guy is home blogging his crimes. https://sambf.substack.com/...
Oh boy. SBF dropped a substack post full of nonsense. “I didn't steal funds”....ummm yeah you did. And LMAO at him wanting FTX creditors to fund his criminal trial defense team...a trial where he is accused of DEFRAUDING those same FTX creditors... https://twitter.com/... https:/…
It is increasingly clear that SBF was and is, first and foremost, a narcissist who really cannot stop talking. He talked to sell a multi-billion dollar fraud, and is now launching a Substack while he is on trial, a step that no lawyer I've ever met would endorse. https://twitter.…