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⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
@Cryptadamist
Jan 4, 2023 • 12 tweets • 11 min read • Read on X
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🧵/Ω
It's been almost a month since our last episode of The More Than Seven Seals of #TheCryptocalypse listed way more than 7 really bad omens for the cryptocurrency "industry."

Well things have gotten a lot worse since then. #TheOracleOfTulips has more to reveal.

Ω👇Ω
🧵1/Ω
The contents of The Book of Fraudits were revealed by the prophet #Mazars in the form of number-free "attestations" about the financial state of #CryptoCom, #Binance, and #KuCoin.

Note that the #KuCoin attestation has never been seen by mortal eyes.
🧵2/Ω
#Mazars LLP, one of the two quasi-legitimate accounting firms still auditing cryptocurrency exchanges not named @Coinbase or @Kraken, announced they would no longer audit crypto firms not named Coinbase or Kraken.
🧵3/Ω
The Harrowing of the Bros: Crypto bros are rising from the dead.

Wallets linked to both #GeraldCotten of #QuadrigaCX and #HalFinney, long suspected IRL guy behind #Satoshi, sprang back into chain-life.
🧵4/Ω
🐋 The War of the Whales🐋

The Parting Of The Stablecoin Waters kicked off the great east vs. west divide as #Huobi, #KuCoin, #ByBit, etc. shifted to exclusively $USDT and #CryptoCom went 100% $USDC.
🧵5/Ω
🐋 The War of the Whales🐋

Paolo Ardoino from #Tether and #CZ, ruler of the empire of #Binance, started talking shit about @Kris Marszalek CEO of #Cryptocom in public. #PaoloToldMe
🧵6/Ω
🐋 The War of the Whales🐋

Bro has set upon bro: Cameron Winklevoss went after Barry Silbert of DCG with a highly accusatory open letter asking where #Gemini customers' $900M went.

Silbert responded by making shit up. It escalated from there.
🧵7/Ω
🐋 The War of the Whales🐋

Revenge of the chain: crypto bros who have their own chains like #BSC/#BinanceSmartChain and @Solana started throwing each other off of those private chains. #Cryptocom got tossed of #BSC and #OKX off #Solana.
🧵8/Ω

#EvaKaili, the most pro-cryptocurrency left-wing VP of the #EuropeanParliament, was arrested with suitcases full of cash.

Kaili allegedly accepted bribes Qataris in exchange for telling all the Europeans that the Qataris were the nicest slave drivers she’d ever met.
🧵9/Ω

VC and private equity funding for cryptocurrency businesses took a huge nose dive.
🧵10/Ω

Avraham Eisenberg, the @mangomarkets trader, was arrested for behavior widely understood to be nothing more than a “highly profitable trading strategy”.
🧵11/Ω

There's more ominous portents but you're gonna have to read about them over on Substack.
cryptadamus.substack.com/p/the-by-now-a…

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More from @Cryptadamist

⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Nov 2, 2023
🧵1/Ω
It’s that time again. Gather round, children, for a thread about the closing arguments in the trial of Sam Bankman-Fried. #FTXTrial #FTXScam

Ω👇Ω Image
🧵2/Ω
The govt’s case revolves around a few things but fundamentally it’s about risks that were not disclosed to customers/investors.

According to the govt not only were these risks not disclosed SBF took steps to conceal them. Which is, you know, a crime

Text from my 📌 twt 👇 Image
🧵3/Ω
It’s conceded by everyone including SBF himself that there were undisclosed risks so the question becomes one of intent. The govt’s argument is that the many steps taken to conceal the risks reveal ill intent. SBF's argument is basically "being irresponsible is not illegal"
Read 42 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Oct 30, 2023
🧵1/Ω
Thoughts from SBF’s 2nd day of cross examination:

Today went very, very badly for Mr. Bankman-Fried but it was still kind of a shame the jury didn’t get to witness the absolute train wreck of his first attempt especially this part:
🧵2/Ω
Things got off to a rough start when SBF tried to say that the million and one times he claimed that Alameda was just like any other FTX customer in every way he secretly was communicating that “every way” meant “one way”: Alameda didn’t front run FTX's customers.
🧵3/Ω
Cue AUSA bringing up approximately a bazillion tweets, emails, slack messages, etc. where SBF said Alameda was just like any other customer followed by the question “does it say ‘in terms of frontrunning customers’ here?”
Read 48 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Oct 26, 2023
🧵1/Ω
Thoughts about SBF’s testimony today:

1. I never imagined it would be so grimly satisfying to watch a man hang himself before my eyes. The only disappointing part was that today wasn’t in front of the jury.
🧵2/Ω
SBF’s “my view from the perspective of the data I had available to me at the time” and “I’ll try to answer the question I think yr asking”¹ schtick did not play well with the judge.

¹ he actually said this, after which the prosecutor said “you didn’t answer my question".
🧵3/Ω
His testimony today was about whether he would be able to use the “but my lawyer said it was OK” defense in front of the jury. Let me summarize how it went:
Read 29 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Oct 11, 2023
🧵1/Ω
Things I Learned From Caroline Ellison's Testimony That CoinDesk Has Declined to Mention, a Thread:

1. The billion dollars that SBF had to bribe Chinese officials to give back was held on Huobi and OKX.
🧵2/Ω
That bribe was for $150 million.
🧵3/Ω
Multiple people at FTX/Alameda had family ties to the Chinese government. One of those people thought the bribe was a bad idea and quit shortly thereafter. The other one was the guy who suggested the bribe.
Read 28 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Sep 19, 2023
🚨Ω🚨
Pumping my bags: another issue of #TheCryptocalypseChronicles is out on The Blogging Site That Shall Not Be Named concerning the actions of one #AxosFinancial AKA "#Binance's new US bank".

Link in bio because Elmo is pathetic and demonetizes links to That Other Site. $AX Image
🧵2/Ω
Perhaps unsurprisingly Axos Financial / $AX appears in the list of #FTX creditors. Image
🧵3/Ω
Also looks like the infamous #ReggieFowler, Crypto Capital Corp's main money launderer, invested $1.3 million with $AX according to court documents filed by #Tether / #Bitfinex begging for their money back.

Also $5 million to something related to Wacky Cathie's $ARKK? lol. Image
Read 8 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Sep 6, 2023
🧐 Just stumbled on this "FIAT INTEGRATION AND REVOLVING LOAN AGREEMENT DATED 10/16/2020" from #iFinex in the list of #FTX's assets from a few days ago.

"What's iFinex?" you may ask?

It's Tether.

Image
🧵2/Ω
If you think through what that means... given that it appears in the FTX list of assets it appears that Tether had an open line of credit where they could borrow money from FTX?

1. What assets were they borrowing?
2. Why does a stablecoin issuer need to borrow anything?
🧵3/Ω
This might explain it... (h/t @ParrotCapital)
Read 11 tweets

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