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VOICE ARCHIVE

David Z. Morris

@davidzmorris
38 posts
2024-12-01
Right at the very bottom of this lament, indirectly and in a way many people won't catch, Marcus admits that killing Libra was the right thing to do.
2024-12-01 View on X
@davidmarcus

Ex-Meta crypto chief David Marcus says there was no legal or regulatory angle for the government to kill its Libra project and “it was 100% a political kill”

For reasons you can guess at, debanking has been the topic du jour in my Twitter feed. Tyler Durden / ZeroHedge News : FinTech CEOs Expose How Feds Colluded In ‘Debanking’ Schemes ...

2024-11-30
Right at the very bottom of this lament, indirectly and in a way many people won't catch, Marcus admits that killing Libra was the right thing to do.
2024-11-30 View on X
@davidmarcus

Ex-Meta crypto chief David Marcus says there was no legal or regulatory angle for the government to kill its Libra project and “it was 100% a political kill”

How Libra Was Killed. I never shared this publicly before, but since @pmarca opened the floodgates on @joerogan's pod, it feels appropriate to shed more light on this. As a reminde...

2024-04-09
Rugged by fucking Wormhole AGAIN https://decrypt.co/...
2024-04-09 View on X
The Block

Solana grapples with network congestion issues, leading to delays in transaction processing and dropped transactions, due to spam transactions and memecoins

2024-03-29
SBF got 25 years. I, by contrast, chose rich [image]
2024-03-29 View on X
Reuters

A US judge sentences Sam Bankman-Fried to 25 years in prison for stealing from users of his now-bankrupt FTX crypto exchange and orders him to forfeit $11B+

Past 6 pm on December 29 … Matthew Russell Lee / Matthew Russell Lee's Newsletter : Aftermath: SBF Sentenced to 25 Years in Prison After Coin Flip and Presidential Aspirations Cite...

2024-02-12
Truly execrable, embarrassing work here by @cnbc. The fact that “full repayment” is barely 1/3rd of the current value of assets isn't mentioned until the last few graphs. I'm flummoxed what motive all these editors have to lie to readers about #FTX https://www.cnbc.com/...
2024-02-12 View on X
CNBC

With SBF set to face sentencing in March 2024, FTX customers look at the possibility of recouping their money, stemming largely from the crypto market's rebound

MacKenzie Sigalos / CNBC :

2023-11-02
Report from the courtroom. Barbara Fried and Joe Bankman were, unusually, absent from the courtroom today, presumably watching from a private room - but unable to face in public the details of what their son did. #ftxtrial
2023-11-02 View on X
The Verge

US v. SBF: in closing statements, the US relied heavily on evidence to argue SBF is guilty and he was “greedy” while SBF's defense managed to make things worse

Mistakes aren't illegal, but fraud is — and Bankman-Fried's lawyers never made his defense land.

#ftxtrial: This a PM we saw SBF's defense team, specifically Cohen, delivering its closing argument. In an attempt to move things along, we went two hours long, and I'm on the J train, so this is all rough. But Cohen leaned on the idea that Sam was acting in “good faith.” 🧵
2023-11-02 View on X
The Verge

US v. SBF: in closing statements, the US relied heavily on evidence to argue SBF is guilty and he was “greedy” while SBF's defense managed to make things worse

Mistakes aren't illegal, but fraud is — and Bankman-Fried's lawyers never made his defense land.

2023-10-27
Just got out of #ftxtrial. Sam Bankman-Fried took the stand - but only in an evidentiary hearing with no jury present. More details via @protos soon, but: under cross by prosecution, SBF hedged, hesitated, qualified, and obscured. In short, he looked incredibly guilty.
2023-10-27 View on X
Financial Times

In a testimony without the jury present, SBF says he followed the counsel of lawyers to make critical decisions around passing FTX customer money to Alameda

Former crypto billionaire blames lawyers as court hears first snippets of testimony without jury present

2023-10-18
Left #ftxtrial early Tues as I was getting sick. What I missed was an FBI agent tracking Sam's phone to the locations of various investor meetings to establish facts of fraud. This is savage tactics by the prosecution. The tracking itself makes him look like a crime lord. [image]
2023-10-18 View on X
The Verge

In cross-examining Nishad Singh, SBF's defense finally picked holes in a US witness, pointing out that Singh used a $3.7M FTX loan of user funds to buy a house

Nishad Singh looks less reliable.  Is it enough? … Of Sam Bankman-Fried's alleged co-conspirators, Nishad Singh gave the most emotionally compelling testimony.

The defense's response was also pretty representative: a rote, completely surface-level attempt to cast extremely minor doubt on the physical evidence, without much apparent interest in touching underlying facts. #ftxtrial [image]
2023-10-18 View on X
The Verge

In cross-examining Nishad Singh, SBF's defense finally picked holes in a US witness, pointing out that Singh used a $3.7M FTX loan of user funds to buy a house

Nishad Singh looks less reliable.  Is it enough? … Of Sam Bankman-Fried's alleged co-conspirators, Nishad Singh gave the most emotionally compelling testimony.

2023-10-12
Huge day in court, one highlight: Caroline testified that when she first started work at Alameda, both she and Sam had “luxury cars” paid for by Alameda. Sam later had them swapped for a Toyota Corolla and a Honda Civic, explicitly to create an image of modest living. #FTX
2023-10-12 View on X
Bloomberg

US v. SBF: Caroline Ellison says SBF asked her to make false balance sheets to hide debt, he considered offering FTX shares to the Saudi crown prince, and more

Caroline testified that SBF ordered her to use FTX customer funds to cover up for Alameda's losses — and to lie to lenders about it.  She was in a “constant state of dread” about t...

Listening to Caroline Ellison talk about how she created a fake balance sheet to Genesis Trading in June of 2022 is like learning the details of your own murder. (Genesis was a DCG company and its collapse led indirectly to my downsizing at CoinDesk.) #FTX
2023-10-12 View on X
Bloomberg

US v. SBF: Caroline Ellison says SBF asked her to make false balance sheets to hide debt, he considered offering FTX shares to the Saudi crown prince, and more

Caroline testified that SBF ordered her to use FTX customer funds to cover up for Alameda's losses — and to lie to lenders about it.  She was in a “constant state of dread” about t...

2023-09-19
“... This is the first [I] have heard of the 200K a year salary! Putting Barbara on this,'” [wrote Bankman.} “In other words, Bankman lobbied his son to massively increase his own salary” to $1 million/yr. These fucking people!
2023-09-19 View on X
CoinDesk

Filing: FTX sues SBF's parents, Joseph Bankman and Barbara Fried, to “recover millions of dollars in fraudulently transferred and misappropriated funds”

The filing, redacted in parts, asks the court to award the FTX estate damages, the return of any property given or payment made to the parents.

My god, this just gets better. In Dec 2021 J. Bankman took leave from Stanford to focus on FTX. He had agreed to a $200k salary, but immediately pressured Sam for a raise ... to $1 million/yr. #ftx “Gee, Sam I don't know what to say here,” he emailed his son ...
2023-09-19 View on X
CoinDesk

Filing: FTX sues SBF's parents, Joseph Bankman and Barbara Fried, to “recover millions of dollars in fraudulently transferred and misappropriated funds”

The filing, redacted in parts, asks the court to award the FTX estate damages, the return of any property given or payment made to the parents.

Big line: “Bankman and Fried, professors at ... the top U.S. law school, either knew—or ignored bright red flags revealing—that their son, Bankman-Fried, and #FTX Insiders were orchestrating a vast fraudulent scheme to profit and promote their personal and charitable agendas”
2023-09-19 View on X
CoinDesk

Filing: FTX sues SBF's parents, Joseph Bankman and Barbara Fried, to “recover millions of dollars in fraudulently transferred and misappropriated funds”

The filing, redacted in parts, asks the court to award the FTX estate damages, the return of any property given or payment made to the parents.

No surprise, the filing details that Bankman sr. was heavily involved in structuring FTX, in specific deals, and in countering allegations of fraud, seemingly usually w/Friedberg.
2023-09-19 View on X
CoinDesk

Filing: FTX sues SBF's parents, Joseph Bankman and Barbara Fried, to “recover millions of dollars in fraudulently transferred and misappropriated funds”

The filing, redacted in parts, asks the court to award the FTX estate damages, the return of any property given or payment made to the parents.

BOMBSHELL: Suit alleges Barbara Fried “encouraged” criminal straw donations to her PAC, by which #FTX funds were funneled through Singh/Salame. I must admit this fuels the conspiracy theory - were the campaign finance charges dropped to protect Barbara Fried?
2023-09-19 View on X
CoinDesk

Filing: FTX sues SBF's parents, Joseph Bankman and Barbara Fried, to “recover millions of dollars in fraudulently transferred and misappropriated funds”

The filing, redacted in parts, asks the court to award the FTX estate damages, the return of any property given or payment made to the parents.

Reading through this now. For a start: “As Bankman-Fried's parents, Bankman and Fried exploited their access and influence within the FTX enterprise to enrich themselves, directly and indirectly, by millions of dollars, and knowingly at the expense of the debtors”. #FTX
2023-09-19 View on X
CoinDesk

Filing: FTX sues SBF's parents, Joseph Bankman and Barbara Fried, to “recover millions of dollars in fraudulently transferred and misappropriated funds”

The filing, redacted in parts, asks the court to award the FTX estate damages, the return of any property given or payment made to the parents.

2023-07-22
God dammit. Plea deal. No trial for Razzlekhan (on these charges, at least). Kind of notable that they don't appear to have managed to roll existing evidence into anything regarding the hack itself, still all money laundering. https://www.coindesk.com/...
2023-07-22 View on X
Reuters

Court filing: Heather “Razzlekhan” Morgan and Ilya Lichtenstein reach a plea deal over allegedly laundering billions in cryptocurrency from Bitfinex's 2016 hack

Luc Cohen / Reuters :

2023-06-27
This feels new - at least according to receivers, #FTX executives knew they were wildly insolvent *IN FUCKING AUGUST* [image]
2023-06-27 View on X
CoinDesk

FTX's bankruptcy team says the exchange owed its customers ~$8.7B after commingling and misusing their deposits, and has recovered ~$7B in liquid assets so far

Jesse Hamilton / CoinDesk :