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Binance role in FTX collapse under congressional scrutiny
- sn0w_crash 4y agoIs FTX role in FTX collapse also under congressional scrutiny ?
- ceejayoz 4y agoI'd imagine it's under FBI scrutiny, which is more useful.
- VagueMag 4y agoSBF has been given many days to destroy evidence since his wrongdoing became plainly obvious for all the world to see. Not much hustle from the blue windbreakers on this one.
- ceejayoz 4y agoHe spent like an entire day confessing on Twitter. There'll be plenty of evidence to gather.
- VagueMag 4y agoYou think he spent a whole day composing a dozen or so tweets?
- ceejayoz 4y agoIs the length of time taken to compose the tweets he posted throughout the day the important aspect here? There are materially false tweets in the various threads, including a claim that FTX US was unaffected (https://twitter.com/SBF_FTX/status/1590709195892195329 https://twitter.com/SBF_FTX/status/1590709195892195329 ); it was part of the bankruptcy filing the next day. Part way through he realized it was probably unwise to be posting like this; https://twitter.com/SBF_FTX/status/1590709199067295749 https://twitter.com/SBF_FTX/status/1590709199067295749.
- VagueMag 4y agoThere's no "role" of any significance to be investigated here. FTX was not a bank, if it had not been improperly using customer funds, or using absurdly inflated valuations of its own shitcoin FTT as balance sheet collateral, it would not have been possible for anyone to start a "run" of any kind. If there's anything at all to be investigated it might be the balance sheet leak to CoinDesk, but so far the media and Congress are assiduously avoiding any mention of it. Even there, it wouldn't have been a problem if the balance sheet wasn't a smoking 100ft crater in the first place.
- throwaway4good 4y agoBinance needs to start paying some US congress members. It looks they are not giving up until they are made whole from the FTX collapse ...