Discover and read the best of Twitter Threads about #SBF_FTX

Most recents (19)



Before I finish, let’s do some math.

FTX deposit base = $15bn
Alameda position notional = $1.3bn
Processed withdrawals pre bankruptcy = $5bn

First let’s assume that alameda’s position goes to zero for a loss to FTX of $1.3bn.

Net of customer deposits that’s $13.7bn

Next we subtract the amount of processed withdrawals and come to $8.7bn.
Read 6 tweets


The exchange should never lose money if a customer gets liquidated. There is no excuse giving you hedge fund alameda an account with liquidation turned off.

All this talk about what Alameda did is misdirection. It doesn’t matter how they hedged or didn’t hedge, or what dogshit was in their portfolio.

If you want to do some explaining tell us why you thought it was a good idea to give your hedge fund an account with the liquidation feature turned off?
Read 5 tweets
@CGasparino @SBF_FTX @FoxBusiness #SBF opened #FTX Europe in Cyprus in 2014. Ukraine relationship started then?
#SBF opened #Innovatia in Cyprus in 2016
#SBF opened #ALAMEDARESEARCH in 2017
#SBF opened #WestRealmShires #FTX in almost every state in 3rd week March 2020. #JoeBiden became presumptive nominee April 8
@CGasparino @SBF_FTX @FoxBusiness #MindTheGap was founded in 2019 by Barbara Fried, Paul Brest & Graham Gottlieb. Graham Gottlieb helped Obama's 2008 & 2012 campaign and worked for US Aid....
"The company FTX, in its bankruptcy filing appears to have held tens-of-billions in American “military aid” to Ukraine."
@CGasparino @SBF_FTX @FoxBusiness "According to Turner, it seems that Ukraine was receiving money from the US, and then sent it to FTX, and FTX sent it to the same Democrats, who had originally voted to send it to Ukraine. "…
Read 10 tweets
💥💥💥 OMG, can you believe what happened in 2022?! 💥💥💥 Time for a recap 🧵👇

1/ First off, there was this crazy high inflation that was happening in countries all around the world 💰💸. It was causing all sorts of economic problems and making life hard for a lot of people. #inflation #PCE Image
2/ Then, the Omicron coronavirus variant started spreading and it was a total nightmare 🤒🤮. People were getting sick left and right and it was just chaos. #COVIDIsAirborne Image
Read 15 tweets
SBF is currently held in Fox Hill Prison, the only jail facility in The Bahamas.

It’s horrid – here’s more about it. 🧵
1. According to The Wall Street Journal (@WSJ), Fox Hill Prison is known for its unsanitary conditions.

A 2021 human rights report described it as “harsh” due to “overcrowding, poor nutrition, inadequate sanitation, and inadequate medical care”.

2. Inmates at Fox Hill Prison developed bed sores from lying on the ground. Jail cells were infested with “rats, maggots, and insects.”

Read 4 tweets
"Thank you Mr. Bankman-Fried for helping us understand the extensive guardrails #FTX has in place to protect investors from fraud and manipulation [and giving me so much money]." - @RepTomEmmer

Amazing clip of Emmer sucking up to #GodEmperorSBF.
This is coming on the heels of the letter @RepTomEmmer organized (signed by the other members of the shamefully bipartisan #Blockchain8) to @GaryGensler and @SECGov telling them to stop investigating #FTX. #FTXscam

Surely it's a coincidence that #FTX was tied for 10th place on @RepTomEmmer's "most generous donors"?

@tomemmer ran interference for the #FTXScam. Now he is desperately trying to shift blame onto @SECGov after he tried to stop them from doing their job…
Read 4 tweets
1/ Here are some paraphrased highlights from the Twitter Spaces Matt Taibbi #Twittergate conversation, with paraphrased responses from @elonmusk

On the release of #twitterfiles Image
2/On #Kanye ban

Inciting violence is against the law. In my view posting swastikas is an incitement to violence. The context is important, he is saying he likes Hitler; Alex Jones is telling him to calm down; I made the decision; I wanted to punch Kanye.
3/ On freedom of expression and trust Image
Read 17 tweets
Politicians routinely lie, hide facts, evade taxes, help their kin with lucrative contracts. Media is complicit mostly because of the negative repercussions they might have to face.

They falsify or hide records, they blame things on opponents. A thread 🧵 for your awareness👇 Image
President Biden's administration is scrambling to track the nearly $20 billion in military aid it has sent to Ukraine as Republicans warn of impending audits when they take control of the House in January.

Isn’t this enough for proof Mr. Biden Image
Read 10 tweets
1/ As a securities trial lawyer, I have cross-examined many conmen and financial fraudsters over the last 30 years.

@andrewrsorkin will have his chance to question SBF on Wednesday.

Here are 6 questions I would ask--but doubt he will.
2/ Stealing Customer Funds

The FTX Terms of Service are very clear that customer assets belong to the customer--not to FTX.

You realize it was illegal for you to misappropriate assets from your customers' accounts, right?
3/ Guilty Parties

Who at FTX or Alameda knew you were taking FTX customer assets and transferring them to Alameda?
Read 10 tweets

The Seven¹ Seals of #TheCryptocalypse
The signs are all around us. Read on below.

Have doubts? At least make sure you know what's actually happening out there.

RT/QT for great justice.
🂇 🂁 🔜 🁡 🁡 🁡

¹ maybe more than 7


I. @GenesisTrading, by far the biggest portal between Wall St. money and the crypto verse and the biggest trading desk handling the off market trading of very large amounts of money for very large amounts of crypto, is going to declare bankruptcy on Monday at 10 A.M. Image

II. Prosecutors at the Southern District of New York Will Indict Sam Bankman-Fried Very Soon Image
Read 15 tweets
BREAKING: Analysts say #FTX may have used synthetic stocks to short GameStop.

How (1/6)? 🧵…

1. #FTX says its tokenised stocks are backed 1:1, according to its official Terms of Service (TOS) document.

2. FTX listed 10,000,000 @GameStop tokens for trading on its derivatives trading platform.

@etherscan shows that there are 10,000,000 synthetic GME tokens circulating on the Ethereum blockchain.
Read 7 tweets
BREAKING: More than 9000 people have signed a petition from @CryptoLawUS demanding an investigation into @GaryGensler for handing @SBF_FTX a “regulatory free pass” while FTX committed fraud.
The petition is being spearheaded by lawyer @JohnEDeaton1 who represents @Ripple in their ongoing lawsuit against the SEC.
🚨 UPDATE: John E Deaton has clarified that he represents XRP holders, not @Ripple.
Read 4 tweets
Why has #Tether had 6 DIFFERENT accountants/auditors in the past 5 years? Why doesn't a $66 billion institution hire a Big Four accountant? This is some serious AUDITOR INSTABILITY for a supposed 'StableCoin'. How is Tether linked to SBF's fraud? 1/4 #WTF #SBF_FTX #Tether
Deltec Bank Bahamas doesn't look like a $66 billion dollar institution to me. #B-SIFI
Tether's bank in the Bahamas is a quick hop, skip, and a jump from Sam Bankman-Fried's fraud. SBF has been regularly seen with the Bahamian political elite. It is a simple coincidence that they can jog over to each other? If Tether has $66 billion of real assets...
Read 5 tweets
FTX and its talismanic leader Sam Bankman-Fried have fallen from the upper rungs of the crypto universe. Of course, his inner circle is under investigation. Among them is Nishad Singh, an Indian-origin engineer who was also his housemate. Today's story is about him. #SBF_FTX 1/6
Singh joined FTX as its Director of Engineering in 2019. Prior to that, he was part of its sister organization Alameda Research, which is at the center of the current controversy. He had joined Alameda in 2017. More on the controversy later. 2/6
Singh’s resume is top notch. He studied at Crystal Springs Uplands School, a top private school in California. He graduated from the University of California, Berkley, with a bachelor's degree in electrical engineering and computer science. He had also worked as at Facebook. 3/6
Read 6 tweets
I'm calling it now. The #FTX implosion was supposed to be a coordinated controlled demolition of retail crypto followed by CBDC rollout/regulatory crackdown by Biden Admin, SEC, WEF, et-al, but it went off before they could all get out of the way. ImageImageImage
Complicit VC's helped suck retail liquidity out of market, much going to Democrats in the form of donations. SBF himself was the 2nd largest donor to Democrats behind Soros. His aunt Barbara is WEF, and launched Dem leaning political operations just before launch of #FTX. ImageImage
Meanwhile, SBF and FTX were consulting with SEC on new regs, hiring former CFTC employees, testifying on Capitol Hill, and exhibiting some extraordinary regulatory capture cred for a 3 year old start-up run from a swingers dorm in the Bahamas. ImageImageImageImage
Read 11 tweets
A very interesting #perspEctive on #cryptocrash and #SBF_FTX:

1/ A true scandal is opening for the Biden administration.

April 25, 2019: Biden announces his presidential campaign.

13 days later, Sam Bankman-Fried, son of Barbara Fried
2/ ( Stanford Professor and co-founder of political fundraising organization "Mind-the-Gap), launches #FTX crypto exchange.

The exchange is magically an overnight success. SBF becomes biggest donor to Biden.

Election day, FTX implodes completely.
3/ If you think this scandal is done, it goes even deeper.

Gabe Bankman-Fried, brother to Sam (also a former Jane Street trader), is founder of “Guarding Against Pandemics”
Read 7 tweets
My tinfoil hat started tingling, so let's take a closer look at Sam Bankman-Fried (CEO of #FTX) and Caroline Ellison (CEO of #AlamedaResearch).

#SBF_FTX #CarolineEllison

1/n ImageImage
Sam's father, Joseph Bankman, is a lawyer and Professor of Law and Business at Stanford Law School.

He's also a tax expert. 🤔

Read 13 tweets

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