Jesse Powell

@jespow ↗

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Last Checked Feb. 22, 2023

Created

Thu Dec 01 22:39:50 +0000 2022

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Jesse Powell @jespow

"It all added up if you counted negative balances as 100% recoverable" WTF!? No, dude. Borrowing 10,000 BTC from client balances vs FTT at "mark-to-market" is not just bad risk management. It is obfuscated fraud. The only diff between SBF & Madoff is Madoff didn't have a token. — PolitiTweet.org

Posted Dec. 1, 2022

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Jesse Powell @jespow

SBF is completely full of shit about how margin trading works. He's saying that the whole exchange operated on a net account equity model and anybody could borrow anything (in any amount?) from client funds or from nowhere. That's not how it should work. https://t.co/3k7PkbAHVM — PolitiTweet.org

Posted Dec. 1, 2022

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Jesse Powell @jespow

@bradmillscan @americanhodl8 Ya, his answer to this last question about “synthetic or fake” tokens confirms it as well. They had more tokens in the system than they actually had balances. So, they weren’t capped by lending from client balances. They were literally just printing new coins like a central bank. — PolitiTweet.org

Posted Dec. 1, 2022