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This looks like a potentially huge revelation. The wallet analysis looks sound, and, if correct, the implications of US customer funds being comingled in this m

This looks like a potentially huge revelation. The wallet analysis looks sound, and, if correct, the implications of US customer funds being comingled in this manner could set the stage for an even worse scenario for US customers than that of FTX. Even SBF in all his criminality knew not to play AS fast and loose with US customer funds as he did with international, and John Ray has indicated that US customers will fare much better overall than others.

411111111111111 4y ago
Total nonsense. FTX made no distinctions, neither by contract nor by country of origin. They'll pay out people from the US first for sure, but that's just how the bankruptcy process works and there likely won't be anything left by the time the queue moved down to foreign holders. But the reason you've provided is just plain fake news
- ferminaut 4y ago
  > TX made no distinctions, neither by contract nor by country of origin. Apparently there was special rules for Japan. The regulations were a result of Mt Gox failing. Basically you cant comingle funds and the accounts need to be linked to a trusted third party. https://www.coindesk.com/consensus-magazine/2022/12/13/japan-was-the-safest-place-to-be-an-ftx-customer/ https://www.coindesk.com/consensus-magazine/2022/12/13/japan...
mr90210 4y ago
"Even SBF in all his criminality knew not to play" Even what? Really?
- heartbeats 4y ago
  According to John J. Ray, the clean-up guy, FTX.us is solvent, or at least more so than the FTX.com silo.
  - kwantam 4y ago
    Do you have a source for this? I'd really love to read more about it. My impression from Ray's congressional testimony was "FTX.us might be solvent, but we don't know yet because the forensic accountants are still chipping away". But I was only half focused and am not confident I remember correctly.
    - shockeychap 4y ago
      I had originally heard it during the congressional testimony, but given that it's over three hours long, I don't know exactly where. The gist of what was said, is that a lawmaker cited something about FTX.US being "98% solvent" and asked John for confirmation of this. John stated that he couldn't give any figures at the moment, but there was generally truth to the statement that U.S. customers would be hurt less than others. Here's an article that touches on it. https://www.bloomberg.com/news/articles/2022-12-13/ftx-s-us-customers-may-have-better-luck-getting-their-money-back https://www.bloomberg.com/news/articles/2022-12-13/ftx-s-us-...

411111111111111 4y ago

Total nonsense. FTX made no distinctions, neither by contract nor by country of origin. They'll pay out people from the US first for sure, but that's just how the bankruptcy process works and there likely won't be anything left by the time the queue moved down to foreign holders. But the reason you've provided is just plain fake news

ferminaut 4y ago
> TX made no distinctions, neither by contract nor by country of origin. Apparently there was special rules for Japan. The regulations were a result of Mt Gox failing. Basically you cant comingle funds and the accounts need to be linked to a trusted third party. https://www.coindesk.com/consensus-magazine/2022/12/13/japan-was-the-safest-place-to-be-an-ftx-customer/ https://www.coindesk.com/consensus-magazine/2022/12/13/japan...

mr90210 4y ago

"Even SBF in all his criminality knew not to play" Even what? Really?

heartbeats 4y ago
According to John J. Ray, the clean-up guy, FTX.us is solvent, or at least more so than the FTX.com silo.
- kwantam 4y ago
  Do you have a source for this? I'd really love to read more about it. My impression from Ray's congressional testimony was "FTX.us might be solvent, but we don't know yet because the forensic accountants are still chipping away". But I was only half focused and am not confident I remember correctly.
  - shockeychap 4y ago
    I had originally heard it during the congressional testimony, but given that it's over three hours long, I don't know exactly where. The gist of what was said, is that a lawmaker cited something about FTX.US being "98% solvent" and asked John for confirmation of this. John stated that he couldn't give any figures at the moment, but there was generally truth to the statement that U.S. customers would be hurt less than others. Here's an article that touches on it. https://www.bloomberg.com/news/articles/2022-12-13/ftx-s-us-customers-may-have-better-luck-getting-their-money-back https://www.bloomberg.com/news/articles/2022-12-13/ftx-s-us-...