reporter at @medium’s @ozm. the future sucks, send tips. sarahnemerson@protonmail.com // signal: 510-473-8820
Jan 16, 2023 • 6 tweets • 4 min read
Many have wondered about FTX's ties to its banks Moonstone and Deltec. FTX was a Deltec client when Alameda invested $11.5M in Moonstone, a rural Washington bank acquired by Deltec's chairman Jean Chalopin (a co-creator of Inspector Gadget!)
@DavidJeans2 and I have some answers.
@DavidJeans2 SCOOP: We learned that Alameda used a previously undisclosed company controlled by FTX Bahamas co-CEO Ryan Salame to funnel a $50M loan to Deltec's parent group in October 2021. (Three months later, Alameda invested in Moonstone.)
SCOOP: A Forbes investigation based on leaked documents, former employee testimonies, and blockchain data found that as @Helium crypto execs touted the equality of the "People's Network," they quietly amassed the majority of its wealth at the start. forbes.com/sites/saraheme…
For the past two months, @DavidJeans2, @_pheebini and I have looked at this company hailed as the best example of crypto's real-world utility. By incentivizing regular people to buy $500 hotspots that also mine tokens, it successfully built a massive global wireless network.
