3 ms·
Just use their list of "assets" to illustrate your point. In descending order from the back-of-the-envelope balance sheet of doom: SRM $2,187M "other ventures"
by donavanm 4y ago
Just use their list of "assets" to illustrate your point. In descending order from the back-of-the-envelope balance sheet of doom:
SRM $2,187M
"other ventures" $1,475M
GDA $1,150M
SOL $981M
MAPS $616M
FTT $553M
Anthropic $500M
"locked" USDT $500M
HOOD $472M
USD in Ledger Prime $200M
USDB $73M
PYTH $63M
OXY $54M
ETHE $53M
TWTR $43M
STG $45M
FIDA $36M
DAI $28M
DOT $28M
and so on in to irrelevancy. Its a bunch of garbage "coins-that-definitely-arent-unregulated-securities" (SOL, MAPS, OXY, MSOL) and related garbage producers (SRM, GDA, etc). More or less their entire set of assets is either crap that they made up to sell to rubes, or crap that someone else made for FTX to invest in and sell to rubes. They dont and never did have meaningful assets to back teh house of cards once they stole their customers real USD.
https://d1e00ek4ebabms.cloudfront.net/production/7ab64a3b-6ce0-47cc-96ac-5e2d2a8c5d6c.png https://d1e00ek4ebabms.cloudfront.net/production/7ab64a3b-6c...