In fact apparently he had 500 bank accounts¹ held in 80 different names in 3 countries:
1. USA 2. UAE 3. Bahamas
Know any other companies in Bahamas?
🧵6/Ω
Guo had a company called #Saraca that was some kind of #GTV holding company but maybe more interesting is the size and number of investors. He sold $452mm to 5,500 people for an average of $82,181 per investor.
Who are the investors? Seems kinda high for crypto degens...
🧵7/Ω
There is actually a law against making a thread about #MilesGuo without posting a video that demonstrates his immense skill as a cryptocurrency rapper, so here you go:
🧵8/Ω
It's also illegal to make a #MilesGuo thread and not remind everyone that #SteveBannon, AKA "the mad zealot who got Trump elected president", was arrested on Guo's boat.
🧵9/Ω #MilesGuo also makes an appearance in the arrest of Fugees member #PrasMichel. Long story but apparently #JhoLow, Leo DiCaprio's friend who stole $4bn from Malaysia (and used some of it to fund The Wolf of Wall St) needed PRC protection. bloomberg.com/features/2023-…
🧵10/Ω
Might as well put this here and remind everyone there are no coincidences.
🧵11/Ω
Just to make sure this thread has all the key points for those unfamiliar with this international man of mystery, here's #GeorgeSantos (yes, that George Santos) decrying the persecution of #MilesGuo on the floor of the Congress earlier today.
🧵12/Ω
Maybe worth pointing out that Miles Guo and Sam Bankman-Fried of #FTX fame have a few mutual friends in high places... #TonyBlair is one of them. Royal families in Arab states some others.
🧵13/Ω
I was a little surprised to find out that #MilesGuo bought a palatial estate in... New Jersey. And not just anywhere in New Jersey, but in Mahwah, which i knew was pretty suburban but never understood to be the kind of place a chinese "billionaire" might hang out.
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🧵2/Ω
I have videos of these screenshots but the frame rate is broken and i'm too lazy to correct it right now, but Uzbekistan's #Agrobank hired Brock Pierce's favorite lobbyist and went to meet Ted Cruz and went to the White House:
Ω❓Ω
maybe nothing but interesting the total value of Tether's repo assets for 2023-Q4 is only 2% less than the collateralized assets listed on #CantorFitzgerald's 2023 filing
2/ maybe more likely to be nothing but Tether's infamous "Secured Loans" number is only 3% less than the "Securities purchased under agreements to resell" on the #CantorFitzgerald balance sheet
🧵1/Ω
Just read #Chainalysis "2024 Crypto Crime Mid-Year Report". Obvs they have a habit of minimizing crypto crime stats but reading closely I realized this is kinda nuts. So nuts I that we need new rhyme akin to "pump & dump" vein. I give you:
"Minimize & Legitimize"
Ω👇Ω
🧵2/Ω
The report has two parts. I focused on the 2nd half because it makes a big deal about CSAM. Surprisingly to me it seemed like Chainalysis was for once maybe not downplaying something really bad...
🧵3/Ω
Below is the tweet I dashed off as did a quick scan. CSAM is bad. If CSAM number go up = really bad. Looked like Chainalysis was admitting bad number go up!
Which, speaking as someone who's checked their work on terrorism financing, was surprising.
🧵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
🧵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 👇
🧵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"
🧵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?”
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: