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Having glanced at the accounts, I don't see why SBF filed for Chapter 11. Assets across all silos seem to exceed liabilities. :) > Because such balance sheet w
by vkou 4y ago
Having glanced at the accounts, I don't see why SBF filed for Chapter 11. Assets across all silos seem to exceed liabilities. :)
> Because such balance sheet was produced while the Debtors were controlled by Mr. Bankman-Fried, I do not have confidence in it, and the information therein may not be correct as of the date stated.
... Oh.
> I have substantial concerns as to the information presented in these audited financial statements, especially with respect to the Dotcom Silo. As a practical matter, I do not believe it appropriate for stakeholders or the Court to rely on the audited financial statements as a reliable indication of the financial circumstances of these Silos
... Hmm.
> The Debtors have not yet been able to locate any audited financial statements with respect to the Alameda Silo or the Ventures Silo.
Oh, my.
- richardwhiuk 4y agoThe balance sheet doesn't include the crypto funds associated with depositors on the exchange. Which is sort of a problem - they should be both asset and liabilities, and 1:1 match.