Thread by @intel_jakal

@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.

@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.

@Annihil4tionGod The reason why those individuals ended up with the Common A and no Prefs is because they didn't subscribe to the issue.
#SBF himself took up 35% of the total issue. Kept all the Series A prefs most of the Class A Common but flicked a few left overs to his loyal muppet bridage.

@Annihil4tionGod Now its worth noting that Nishad Singh must have been doing some outstanding work at the #chopshop as it appears that he put the squeeze on #SBF and got to double dip.
Also note of the FTX crew that got the freebies....#danfriedberg got the most.

@Annihil4tionGod taking into consideration that #danfriedberg stepped up and signed this affidavit so #SBF didn't have to since he couldn't as he knew well that a stack of his shitcoins were being held for ransom by China govt agencies...

@Annihil4tionGod Nishad recieved almost double the distribution from SBF that Friedberg did.....I can't imagine what shonky shit he would have had to do to be worth twice as much as Friedberg's deliberately misleading affidavit .

@Annihil4tionGod that all worked out well didnt it.

@Annihil4tionGod there's still a few elephants in the room (just on the share cap) but that will have to wait until tomorrow :)

@Annihil4tionGod unroll @threadreaderapp

#FTX #binance and #FTXUS