Thread by @intel_jakal

@CasPiancey Mate that's so cool you think this. It means alot.

@CasPiancey Just a couple more thoughts on the interview.

@CasPiancey Full disclosure I didn't listen to the entire interview. I listened to the first part...running out of time so fast forwarded to Cas and got so annoyed I couldn't listen to the rest. I did think the host was pretty good and I will go back and listen to the full interview soonish.

@CasPiancey Clearly #SBF spends his days thinking about his personal exposure and ways and means of mitigating that exposure - vagueness, deflection and blame shifting are core to his strategy.

@CasPiancey What that really caught my attention (not just this interview but also on several other occasions) was his response when queried about his role in managing/controlling #alameda.

@CasPiancey @SBF_FTX emphasises that while he stepped down from #alameda in Sept 2021 he handed control of Alameda over a year prior to formally stepping down.

@CasPiancey @SBF_FTX The first time I heard this (prior to the interview) my initial thoughts was it was just blubbery fluff to sandbag the timeline of responsibility. But having heard it more than once I realised that this was a specific mitigation strategy

@CasPiancey @SBF_FTX When you overlay the timeline against another well-known dataset - the 12 months become not only material but potentially quite relevant.

@CasPiancey @SBF_FTX it might be coincidental that 12 months preceding the formal exit of Alameda coincide with #tether's 706% exponential expansion. I haven't looked at @protos data to see when the majority of #tethers were cycled through #alameda but I'd be surprised if they weren't correlated.

@CasPiancey @SBF_FTX @Protos Moving my #fud focus to #tether one thing that has always stuck with me is when I read @ZekeFaux article when he interviewed #deltec's #chalopin and mr gadgets very clear message.

bloomberg.com/news/features/…

@CasPiancey @SBF_FTX @Protos @ZekeFaux As I don't know exactly when #chalopin was interviewed I've made the assumption that it occurred somewhere following the end of the June 2021 quarter (as that is the first quarter > $60B).

@CasPiancey @SBF_FTX @Protos @ZekeFaux JC's statement that "only $15B or so is still with Deltec" appears to infer that potentially more was held with Deltec but had moved.
However the timeline appears to suggest that the funds at #deltec peaked at $15B in Sep 20 and the subsequent expansion was external to #deltec

@CasPiancey @SBF_FTX @Protos @ZekeFaux Two other observations to point out from this overlay is a) I hadn't previously noticed that the QoQ expansion in reserves (Dec20 to Mar 21) is almost exactly the same value as the #commercialpaper (< 3% variance).
btw Mar 21 was the first quarter that CP's were disclosed.

@CasPiancey @SBF_FTX @Protos @ZekeFaux b) note the timing of #SBF's formal exit from #alameda appears to have occurred not long after that interview and just before the article was published....#fud might suggest there's something to dig into and look at.

@CasPiancey @SBF_FTX @Protos @ZekeFaux unroll @threadreaderapp