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David Sacks

@DavidSacks ↗

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Last Checked Dec. 29, 2022

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Wed Nov 23 20:17:07 +0000 2022

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David Sacks @DavidSacks

Basic flaw in this narrative: if the $8 billion in “liabilities” were actually customer deposits that SBF had no right to take but nevertheless appropriated for his personal use, that’s not a case of balance sheet mismanagement, it’s theft and fraud. https://t.co/MdBfgJIurG — PolitiTweet.org

Liz Hoffman @lizrhoffman

This mostly makes sense to me. FTX had a lot of collateral ($60bn) against not that many liabilities ($2bn). The pr… https://t.co/kowtbaSTww

Posted Nov. 23, 2022

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David Sacks @DavidSacks

@lizrhoffman @CoinDesk Basic flaw in this narrative: if the $8 billion in “liabilities” were actually customer deposits that SBF had no right to take but nevertheless appropriated for his personal use, that’s not a case of balance sheet mismanagement, it’s theft and fraud. — PolitiTweet.org

Posted Nov. 23, 2022 Just a Typo

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David Sacks @DavidSacks

Indeed, FTX’s own terms of service prohibited the loaning out of customer deposits. Therefore, a run on the bank should not have been possible. — PolitiTweet.org

ChainLinkGod.eth @ChainLinkGod

@lizrhoffman @CoinDesk Holy gaslighting, per FTX’s own terms of service, user deposits belonged to the users and co… https://t.co/nHDvwdh4VA

Posted Nov. 23, 2022