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first: > i) We signed an LOI that prevented us from talking to other potential investors as long as the negotiations with Binance were ongoing. > ii) During th
by kobalsky 4y ago
first:
> i) We signed an LOI that prevented us from talking to other potential investors as long as the negotiations with Binance were ongoing.
> ii) During that time, I received serious expressions of interest from multiple potential investors who represented billions in capital that could have gone to customers. I was inhibited in responding by the LOI.
and then:
> 5) At roughly 4:30 am on November 10th, 2022, against my better judgment, I clicked on a Docusign link that would nominate John Ray as the CEO of various entities.
> 6) Less than 10 minutes later I received a potential funding offer for billions of dollars to help make customers whole
I never read what this guy said before this meltdown so I can't actually judge for myself, but, were there signs that this clown was there? these are toddler-level lies.
- SilasX 4y agoPer my other comment, he was telling the same story (regarding item 6) weeks before, in a letter to colleagues: https://news.ycombinator.com/item?id=33984977 https://news.ycombinator.com/item?id=33984977
- wnkrshm 4y ago> ...I received a potential funding offer for billions of dollars to help make customers whole Even if they were made whole, there would still have been fraud. A crime doesn't disappear because you tried to rectify it on your own, though you might get let off the hook a little.
- robryan 4y agoIt seems like all of these offers were about as likely to go through as the binance one. It isn't really surprising that there would be a lot of parties interested in taking a look at doing an offer. None of them were going to invest after even a cursory look at the finances.