@intel_jakal Profile picture
Jun 14 13 tweets 18 min read Twitter logo Read on Twitter
@ParrotCapital @Cryptadamist @Annihil4tionGod @ThegreatLambiny @ImDrinknWyn Only just skimmed through the petition filing. What a dumpster.
Next to no info on N9 advisors. So likely a Delaware SPV setup solely for the purpose of facilitating the convertible note. Creditor list confirms Delaware entity
@ParrotCapital @Cryptadamist @Annihil4tionGod @ThegreatLambiny @ImDrinknWyn caveat: this is a skim thru illustrated with coupled together screenshots. when i have a chance I'll convert their financials into google sheets.
@ParrotCapital @Cryptadamist @Annihil4tionGod @ThegreatLambiny @ImDrinknWyn you can see the N9 con note on the balance sheet quarter ending Sep 2021. Image
@ParrotCapital @Cryptadamist @Annihil4tionGod @ThegreatLambiny @ImDrinknWyn By the Dec quarter the $2.35m in the Piermont account was gonski. (presumably the cash in the prime trust was moved to the lexicon checking account) Image
@ParrotCapital @Cryptadamist @Annihil4tionGod @ThegreatLambiny @ImDrinknWyn What shits me (as always) is stuff like this.
Files for bankruptcy citing $17.72m in assets...against $5.4million in liabilities. Image
@ParrotCapital @Cryptadamist @Annihil4tionGod @ThegreatLambiny @ImDrinknWyn it doesn't take a genius to realise that they never had $17m of assets. Total assets peaked at $4m (the same quarter that the $3.1m con note cash came in). Image
@ParrotCapital @Cryptadamist @Annihil4tionGod @ThegreatLambiny @ImDrinknWyn The $17.5m of other assets is the cause of action claim .. Image
@ParrotCapital @Cryptadamist @Annihil4tionGod @ThegreatLambiny @ImDrinknWyn Looks like the 'computers' are part of the $17.5m claim were worth $33k Image
@ParrotCapital @Cryptadamist @Annihil4tionGod @ThegreatLambiny @ImDrinknWyn Last observation for the day before signing off from the #banq dumpster.

Nearly $800k creditor claim owend to LV Stadium Events. Image
@ParrotCapital @Cryptadamist @Annihil4tionGod @ThegreatLambiny @ImDrinknWyn Which is the stadium company for the newly build @lasvegasraidnfl
Appears to be another #crytpo #sponsorship deal gone Image

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with @intel_jakal

@intel_jakal Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @intel_jakal

May 3
#FTXUS Analysis - Thread 3
Following on from yesterday. Todays thread will focus on payments to #insiders made in the last 12 months prior to bankruptcy. Every time I look through the docs...I'm just amazed how spellbindly outrageous this whole shit show is.
In 12 months just over $25m was paid to insiders. I've summarised by quarter. 48% of payments went to undisclosed parties but since they are insiders and SBF only clipped a lazy $500k in his name...lets assume its him. Image
The stand out insider is the former CFTC commissioner #markwetjen who was paid $3.7million Image
Read 10 tweets
May 2
#FTXUS shareholder analysis thread part 2
Yesterday I punched out a bunch of tweets re: the ownership of FTXUS aka #wrssilo I'm still working through the filings. I'm just going to post as and when I've got time....its going to be untidy but you know ...thats the I roll.
One thing I've scratched my head about is how did the FTX muppets end up with the shares in WRS directly in their name....since its the US operations of #FTX?
I haven't worked out why but I think I've worked out how.
Kroll scratched out a timeline and note that SBF, Gary and Nishad founded WRS (FTX US) in Jan 2020.
Not as a subsidiary...not as a branch office, majority owned/controlled entity...nope just straight up new shares to the Bro's. Image
Read 11 tweets
May 1
@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 Image
@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. Image
@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. Image
Read 10 tweets
Apr 21
An #incompentence #MasterClass
by #bitfinex own statement it was working with #cryptocapital from 2014.

#bitfinex was also working with #coinapult we know this as they are referenced in the incident report when #coinapult was hacked in 2015. Image
So what happened with #coinapult. That's a great question...I'm glad you asked. In May 2015 (a couple months after the hack) they announced they were being 'integrated' into #cryptocapital and would no long be undertaking #kyc as they had a tip top fully regulated partner, Image
Obviously to effect such an important transaction #coinapult would have gone to great length to ensure their partner who was taking over the KYC and banking functions were who they said they were.
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(