Jesse Powell

@jespow ↗

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Last Checked Feb. 18, 2023

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Fri Nov 25 22:27:23 +0000 2022

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Jesse Powell @jespow

@HODLaser This process involved an auditor who made sure we didn't include negative balances. It also involved a proof of assets. — PolitiTweet.org

Posted Nov. 25, 2022

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Jesse Powell @jespow

@cadhodl @PopMelancholic @FatManTerra @hellspawncrypto @cz_binance This proves neither assets under control nor total client liabilities. This merkle tree is just hashes of rows on a spreadsheet, for which we have no idea whether has been fully captured, includes negative balances, etc. It's completely worthless as evidence of anything. — PolitiTweet.org

Posted Nov. 25, 2022

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Jesse Powell @jespow

@BitMEXResearch @FatManTerra @coinmetrics @TheBlock__ Then you need to look at the construction of the tree and which accounts would be in a position to identify negative balances. It's so much easier to just 1. get an auditor to confirm no shenanigans, 2. publish the whole list of balances. Assume a bad actor would use all tricks. — PolitiTweet.org

Posted Nov. 25, 2022