Discover and read the best of Twitter Threads about #FTXbankruptcy
Most recents (16)
Welcome to the Twitter account for the Official Committee of Unsecured Creditors (UCC) appointed in the @FTX_Official bankruptcy cases. You can learn more about the UCC in the below thread or on our official website (UCCFTX.com).
The UCC represents the overall interests of all #FTX unsecured creditors, and we plan to use this account to share news and developments regarding the #FTXBankruptcy proceedings.
The UCC is being advised by counsel, investment bankers, financial advisors, and communications experts that are well-versed in digital, blockchain, and crypto assets, as well as complex investigations and bankruptcy law.
FTX Hearing Somewhat-Live Tweets!
OK let's get everyone caught up...
There was a motion made on an emergency basis to adjourn the hearing on S&C's retention on account of the recently-filed Friedberg declaration.
Bromley for S&C says it's @SBF_FTX pulling the strings! Sorry, what?!
There was a motion made on an emergency basis to adjourn the hearing on S&C's retention on account of the recently-filed Friedberg declaration.
Bromley for S&C says it's @SBF_FTX pulling the strings! Sorry, what?!
As predicted, Dorsey rules against the emergency motion to adjourn and we're going forward with a hearing on the Debtors' application for the retention of S&C.
Hard to fathom. Amazing revelations here regarding #FTX ‘s collapse from @JohnJRay ,who is overseeing #FTXbankruptcy & has 40 years of legal & restructuring experience.
“Nearly all of these situations (bankruptcies & corporate failures) share common characteristics, ranging from gross mismanagement, excessive leverage, failures of internal controls, failures of external checks as a result of audit firm failures, or insufficient board 2/
governance. But never in my career have I seen such an utter failure of corporate controls at every level of an organization, from the lack of financial statements to a complete failure of any internal controls or governance whatsoever.
Although our investigation is 3/
Although our investigation is 3/
Anyone following the money-election-geopolitical timeline? Campaign finance reform is a house on fire.
#FTX #Afghanistan #UkraineWar #usmidtermelections2022 #CampaignFinance
#FTXbankruptcy
The timeline is eye opening.
#FTX #Afghanistan #UkraineWar #usmidtermelections2022 #CampaignFinance
#FTXbankruptcy
The timeline is eye opening.
May 2019 - Former Wall Street trader Sam Bankman-Fried and ex-Google employee Gary Wang founded FTX, the owner and operator of FTX.COM cryptocurrency exchange.
No notable activity until July 2021 when $900 million funding round valued FTX at $18 billion.
No notable activity until July 2021 when $900 million funding round valued FTX at $18 billion.
November 6, 2020 Election Night - Arizona called for the two low polling Democrats in 2020 Presidential election by Fox News, touted by an NPR article as ‘a bold move’.
npr.org/2020/11/19/936…
npr.org/2020/11/19/936…
Good evening folks. Ryan Pinder, the Attorney General of the Bahamas, is supposed to give a live address on FTX. It was supposed to be on Facebook, but hasn't started there yet. I'm watching here: znsbahamas.com/watch-live-2/ #FTX #FTXbankruptcy
Pinder starts off quickly walking through the last 3.5 weeks, citing @IanAllison123's @CoinDesk report on Alameda Research's FTT holdings. Says only FTX Digital Markets was regulated in The Bahamas, not Alameda #FTX #FTXbankruptcy
Nearly 550 people in the Zoom call for the first day hearing for FTX's bankruptcy already. Expect some tweets here for @CoinDesk. Not sure how many in the courtroom. Participants were told to attend IRL #FTXbankruptcy
@CoinDesk The Judge said he would grant relief to a motion to seal -- think this means keeping the list of top 50 creditors under seal at the moment #FTXbankruptcy
Proposed co-counsel Adam Landis for FTX says "almost everything" raised by US trustee has been "consensually resolved in connection with first day motions" #FTXbankruptcy
@CMEGroup CEO Terry Duffy called Sam Bankman Fried…
"You're a fraud. You're an absolute fraud." He recalls his encounter with Sam Bankman-Fried last March.
"You're a fraud. You're an absolute fraud." He recalls his encounter with Sam Bankman-Fried last March.
Here’s a prior thread on SBF #FTX #FTXScam that’s been ongoing and it has been drained of all funds and being converted into RenBTC and then eventually into #Bitcoin
SBFs parents bought properties worth $121 million just in the last year alone.
I’m sure they’re legit, nothing to do with clients funds at FTX 🤷♂️
I’m sure they’re legit, nothing to do with clients funds at FTX 🤷♂️
⚠️ Further twists in the #FTX saga by @elliptic . Money laundering is under way using a service owned by Alameda/FTX
The Ether taken from FTX is currently being converted to #RenBTC, which allows it to be moved over to #bitcoin using a service called RenBridge, operated by Ren.
The Ether taken from FTX is currently being converted to #RenBTC, which allows it to be moved over to #bitcoin using a service called RenBridge, operated by Ren.
Ren was acquired by Alameda Research last year: lnkd.in/e_aDEbdG
#ftxcrash #ftxbankruptcy #cryptocurrency #financialcrime
#ftxcrash #ftxbankruptcy #cryptocurrency #financialcrime
The use of RenBridge in this way is textbook black hat hacker. Elliptic research showed how the service has been used to launder hundreds of millions of dollars in #crypto from ransomware, hacks: lnkd.in/eigGms5e
DAN FRIEDBERG
🧵
Complete thread > facebook.com/groups/1195377…
#DANFRIEDBERG
#FTXFraud
#FTXScandal
#FTXbankruptcy
🧵
Complete thread > facebook.com/groups/1195377…
#DANFRIEDBERG
#FTXFraud
#FTXScandal
#FTXbankruptcy
As the scale of the fraud, mounting into the deca-billions, is discovered, we are distracted by the pantomime being played out with SBF and his “gang of 4”. It is all misdirection! The puppet master behind the scenes is Dan Friedberg, FTX “legal Counsel”.
While the world is leaked stories of drug fuelled sex orgies at the Bahama penthouse of SBF, Harry Potter Math defect, Caroline Ellison and strange hacks on FTX draining the last remaining value of client funds, we don’t see much about Dan Friedberg. He is back at home
1/ Talk about #proofofreserves /liabilities/solvency as the solution to @FTX_Official misses the surrounding parts which could make crypto a viable alternative to the fiat system. Join as we journey through:
☑️ Quality of reserves
💸 Capital &💧liquidity
💰 Collateral
#FTX
☑️ Quality of reserves
💸 Capital &💧liquidity
💰 Collateral
#FTX
2/
🧾 Transaction histories and 💳 Credit scores
％ Fractional banking
🪙 New money creation
with a little bit of:
🆔 @w3c Verifiable Credentials #W3C
to build consumer protection and stop this happening again🛑. It's going to be a long one, strap in!
#FTXScandal
🧾 Transaction histories and 💳 Credit scores
％ Fractional banking
🪙 New money creation
with a little bit of:
🆔 @w3c Verifiable Credentials #W3C
to build consumer protection and stop this happening again🛑. It's going to be a long one, strap in!
#FTXScandal
3/ Let's start with ☑️ Quality of Reserves. This is covered excellently by the @FT below so pulling out the key pieces from FTX 👇
#cryptosignals #ftxbankruptcy #ftxwithdrawal
#cryptosignals #ftxbankruptcy #ftxwithdrawal
I see a double entendre and smell a psyop..
Why just yesterday..
Why just yesterday..
I came across
FTX Group Ltd
at
Office 401, 34-37 Liverpool Street, London, EC2M 7PP
suite.endole.co.uk/insight/compan…
FTX Group Ltd
at
Office 401, 34-37 Liverpool Street, London, EC2M 7PP
suite.endole.co.uk/insight/compan…
FTX Group director
Mr David Nathaniel Merry
Appointed : 15 November 2012
leaprate.com/forex/executiv…
Mr David Nathaniel Merry
Appointed : 15 November 2012
leaprate.com/forex/executiv…
"Did Elon Musk smell Sam Bankman-Fried's bluff early?" #Crypto #SBF #SBF_FTX
cointribune.com/analyses/perso…
businessinsider.com/elon-musk-meet…
cointribune.com/analyses/perso…
businessinsider.com/elon-musk-meet…
TAM mirage + crabbing market share + nerdy talk is how money is destroyed fastest.
What is unacceptable is that quality VCs still fail to DD investments properly while having zero macro process. They deserve to be sued by LPs.
@sequoia @FTX_Official @SBF_FTX
What is unacceptable is that quality VCs still fail to DD investments properly while having zero macro process. They deserve to be sued by LPs.
@sequoia @FTX_Official @SBF_FTX
Back door
