Imagine having enough spare change lying around to invest $25m into #genesis and not bothering to file your annual reports and allowing your company to be administratively dissolved. Then having to make a claim for $25m as a creditor while your entity isn't in good standing.
So today quickie is #genesis top 10 creditor #Donut
Self proclaimed #web3 pioneer who's competitive advantage is the use of Decision Tree Risk Modelling Tools....awesome web3 word salad.
even though their product is on pause due to #genesis their principal lending partner blowing up.
They still proudly claiming that their #proofofreserves liquidity ration is still 100%+
As a #web3 pioneer with next gen decision modelling tools and a industry leading #defi platform just how well did donut.app mitigate their exposure to #genesis?
@Cryptadamist@GenesisTrading This is one that I would love to spend more time on and rip it to shreds...but alas I'm out of time.
Here's a couple of observations...
@Cryptadamist@GenesisTrading Don't look for Jon Collins-Black look for"Jon Comer"
Why? 3 direct connections - email, phone number and medium page.
@Cryptadamist@GenesisTrading Who is "Jon Comer" most likely the CMO of Game Credits which is owned by NFT Platform Ltd (Antigua)
Who should be upset about this?
Well ..
If I was a government official or tax paying citizen of Miami-Dade.
If I was part of the Miami Heat franchise. If I was a basketball fan or just an ordinary citizen who decided to become a customer of FTX
or was in anyway influenced by FTX being putting up in lights at the home of one of the most recognised sporting teams globally.
Personally I do not think that just cancelling the contract, putting in debtors declaration and tearing down the sign cuts the mustard.
Yeah we all know SBF lied, cheated and stole.
But CZ walked with $2.1B. Didn't provide answers. Those that were provided by FTX were false/misleading.