Sources reveal FTX and Alameda's dubious financial practices, like showing investors some of the same assets on their books despite claiming separate operations
more than I realized. A run on the bank and market crash exhausted liquidity. So what can I try to do? Raise liquidity, make customers whole, and restart. Dylan Matthews / @dylanmatt : So @kelseytuoc has been DMing with SBF and ... just ... my God https://www.vox.com/... https://twitter.com/... @siegerhino2 : This is the bank account I've been told to send money to when using FTX OTC. Clearly stating i'm sending to Alameda, not FTX. How did NONE OF US ever said anything??! It was here in PLAIN SIGHT! https://twitter.com/... Matt Huang / @matthuang : We are shocked by the revelations about FTX, Alameda, and SBF. @sbf_ftx : 17) I know you've all seen this, but here's where things stand today, roughly speaking. [LOTS OF CAVEATS, ETC.] Liquid: -$8b Semi: +$5.5b Illiquid: +$3.5b And yeah, maybe that $9b illiquid M2M isn't worth $9b (+$1b net). OTOH—a month ago it was worth $18b; +$10b net. — @sbf_ftx : 18) Truth and Beauty Balaji / @balajis : Kelsey is the one honest journo at Vox. And the only one who found a clue as to where all that customer money has gone. https://twitter.com/... https://twitter.com/... Cope / @timccopeland : look dude, i don't know who you are and all my btc was lost to ftx — but i will pay you everything i have left for you not to publish this https://twitter.com/... @zhusu : @SBF_FTX Lets auction these “assets” in a dutch auction, starting from your criminal mark price, and see where buyers show up @sbf_ftx : 14) My goal: a) Clean up and focus on transparency b) Make customers whole @cryptovinco : SBF has a new plan. He claims he wants to raise money to pay back old customers... This is the literal definition of a Ponzi Scheme. This guy just can't avoid being a scammer. https://twitter.com/... Alex de Campi / @alexdecampi : this is truly the greatest interview of our age, I'm sorry for SBF's lawyers, also a good reminder that no matter how nice the lady is, do not confess to crimes in the DMs https://twitter.com/...
Incredible: @a16z has already made 5x returns on its crypto company investments despite the huge crypto winter *because it insisted on getting coins as well as shares* & it then sold those coins before the big downturn in crypto, reports @ReedAlbergotti https://www.semafor.com/..…
15) A few weeks ago, FTX was handling ~$10b/day of volume and billions of transfers. But there was too much leverage—more than I realized. A run on the bank and market crash exhausted liquidity. So what can I try to do? Raise liquidity, make customers whole, and restart.
12) To the best of my knowledge, as of post-11/7, with the potential for errors: a) Alameda had more assets than liabilities M2M (but not liquid!) b) Alameda had margin position on FTX Intl c) FTX US had enough to repay all customers Not everyone necessarily agrees with this
This is the bank account I've been told to send money to when using FTX OTC. Clearly stating i'm sending to Alameda, not FTX. How did NONE OF US ever said anything??! It was here in PLAIN SIGHT! https://twitter.com/...
17) I know you've all seen this, but here's where things stand today, roughly speaking. [LOTS OF CAVEATS, ETC.] Liquid: -$8b Semi: +$5.5b Illiquid: +$3.5b And yeah, maybe that $9b illiquid M2M isn't worth $9b (+$1b net). OTOH—a month ago it was worth $18b; +$10b net. —
Kelsey is the one honest journo at Vox. And the only one who found a clue as to where all that customer money has gone. https://twitter.com/... https://twitter.com/...
look dude, i don't know who you are and all my btc was lost to ftx — but i will pay you everything i have left for you not to publish this https://twitter.com/...
These admissions are so shockingly self-incriminating that I'm hoping that this wasn't a hack or a case of a skillful parody account lol https://twitter.com/...
SBF has a new plan. He claims he wants to raise money to pay back old customers... This is the literal definition of a Ponzi Scheme. This guy just can't avoid being a scammer. https://twitter.com/...
I am shocked, appalled, and frankly, angry. BTC was birthed from the trauma of 2008. Sam's actions are a perversion of everything crypto stands for. My heart goes out to all of the victims whose trust was betrayed, savings lost, and livelihoods destroyed.
The draw for VCs to invest in crypto companies issuing coins is how they don't have to wait 5-10 years for an IPO with all the due diligence: they can sell their coins directly to retail. a16z marketed their investments, coined ‘web3’ and profited, while many investors lost. http…
this is truly the greatest interview of our age, I'm sorry for SBF's lawyers, also a good reminder that no matter how nice the lady is, do not confess to crimes in the DMs https://twitter.com/...
SBF DMing incriminating information to a reporter who works for the arm of Vox that he's personally funding is just... pretty perfect... https://twitter.com/...