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#FTXUS shareholder analysis thread part 2
Yesterday I punched out a bunch of tweets re: the ownership of FTXUS aka #wrssilo I'm still working through the filings. I'm just going to post as and when I've got time....its going to be untidy but you know ...thats the I roll.
Yesterday I punched out a bunch of tweets re: the ownership of FTXUS aka #wrssilo I'm still working through the filings. I'm just going to post as and when I've got time....its going to be untidy but you know ...thats the I roll.
One thing I've scratched my head about is how did the FTX muppets end up with the shares in WRS directly in their name....since its the US operations of #FTX?
I haven't worked out why but I think I've worked out how.
I haven't worked out why but I think I've worked out how.
Kroll scratched out a timeline and note that SBF, Gary and Nishad founded WRS (FTX US) in Jan 2020.
Not as a subsidiary...not as a branch office, majority owned/controlled entity...nope just straight up new shares to the Bro's.
Not as a subsidiary...not as a branch office, majority owned/controlled entity...nope just straight up new shares to the Bro's.
@Annihil4tionGod it is. appears Series A Prefs subscribers also received Class A common when you sort the holdings you can see that the ratio c. 11:1 (common : Prefs). not all the names align as it appears that some subscribers nominated different entities...plus there's a tonne redacted
@Annihil4tionGod Taking a step back. So the capitalisation of FTSUS at liquidation was;
We know there was $400m raised this indicatively ties in with the 1.6B Class A common why the ratio to the Series A pref is 11:1 I have no idea.
We know there was $400m raised this indicatively ties in with the 1.6B Class A common why the ratio to the Series A pref is 11:1 I have no idea.
@Annihil4tionGod There are a number of FTX employees that are holders of Class A Common shares but do not hold Series A prefs. I had to shuffle around the numbers a bit to work out why.
#binance #playbook wasn't just used by #binance. It was literally cookie cut by #FTX
@MikeBurgersburg
@MikeBurgersburg
It was until I saw @AureliusValue link to Miami Dade County, Florida's resolution for #FTX's stadium rights (Mar 2021) that the penny dropped.
When you look at the disclosed beneficial ownership of FTX, FTX.US its undeniable that CZ was a material shareholder.
DAN FRIEDBERG
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Complete thread > facebook.com/groups/1195377…
#DANFRIEDBERG
#FTXFraud
#FTXScandal
#FTXbankruptcy
🧵
Complete thread > facebook.com/groups/1195377…
#DANFRIEDBERG
#FTXFraud
#FTXScandal
#FTXbankruptcy
As the scale of the fraud, mounting into the deca-billions, is discovered, we are distracted by the pantomime being played out with SBF and his “gang of 4”. It is all misdirection! The puppet master behind the scenes is Dan Friedberg, FTX “legal Counsel”.
While the world is leaked stories of drug fuelled sex orgies at the Bahama penthouse of SBF, Harry Potter Math defect, Caroline Ellison and strange hacks on FTX draining the last remaining value of client funds, we don’t see much about Dan Friedberg. He is back at home
