SBF

SBF @SBF_FTX

RT @MetaLawMan: Apparently it is the “real” Daniel Friedberg appearing on Zoom. Judge refuses to allow Friedberg to testify through Zoom… — PolitiTweet.org

SBF @SBF_FTX

From my drafted congressional testimony in December — PolitiTweet.org

SBF @SBF_FTX

https://t.co/VpfEhaHJF6 https://t.co/c97crYDh0Y — PolitiTweet.org

SBF @SBF_FTX

RT @CryptoKaleo: Surprised it's taken them this long to make this type of announcement. As crazy as it sounds, this is probably the highes… — PolitiTweet.org

SBF @SBF_FTX

RT @htltimor: Certainly worth a read. Unless you have already 100% decided who the villains are in this story. In that case it may conflict… — PolitiTweet.org

SBF @SBF_FTX

RT @friedmandave: It’s interesting. This maps to some of what @SBF_FTX seems to be claiming. Does John Ray & S&C have egg on their face? — PolitiTweet.org

SBF @SBF_FTX

RT @MetaLawMan: Well, I just finished reading the Declaration of Daniel Friedberg. It is fair to say that this is one of the more shocki… — PolitiTweet.org

SBF @SBF_FTX

RT @zGuz: Former FTX Regulatory Officer Daniel Friedberg just laid out his opposition to the company retaining law firm Sullivan & Cromwell… — PolitiTweet.org

SBF @SBF_FTX

RT @AFTXcreditor: Daniel Friedberg, FTX Chief Regulatory Officer, has joined a Creditor's objection to retaining Sullivan and Cromwell. htt… — PolitiTweet.org

SBF @SBF_FTX

RT @MetaLawMan: 1/ There's something off with the FTX bankruptcy. And it's happening tomorrow. Here's what you should know. — PolitiTweet.org

SBF @SBF_FTX

I'm glad Mr. Ray is finally paying lip service to turning the exchange back on after months of squashing such efforts! I'm still waiting for him to finally admit FTX US is solvent and give customers their money back... https://t.co/XjcyYFsoU0 https://t.co/SdvMIMXQ5K — PolitiTweet.org

SBF @SBF_FTX

@fed_speak yeah sorry about that I had like 1 hour to throw this one together and it's ugly af but also it's right — PolitiTweet.org

SBF @SBF_FTX

@K_L0X @MetaLawMan honestly you're pointing out one of the most infuriating things about this whole process if the person with control of the system turns it off and withholds information on it, it's really hard for anyone else to prove anything about it — PolitiTweet.org

SBF @SBF_FTX

TL;DR: 1) S&C files, claiming FTX US is insolvent 2) S&C forgot to include bank balances, ~$428m 3) Once you add those back in, you get in the neighborhood of my prior balance sheet (~+$350m) 4) Other slides in the same filing demonstrate (2) — PolitiTweet.org

SBF @SBF_FTX

@jconorgrogan @austerity_sucks I think FTX US was always solvent, with segregated assets from FTX International this wasn't a last-minute musical chairs thing to be clear if Alameda had excess assets (+ve NAV) on FTX US at the end, *those* would likely go to FTX intl but wouldn't be counted for FTX US anyway — PolitiTweet.org

SBF @SBF_FTX

@jconorgrogan I'm fairly confident that FTX US's excess cash on hand is much larger than the size of the wrapped asset issue to the extent there is one — PolitiTweet.org

SBF @SBF_FTX

@spreekaway https://t.co/8fa4tZsMr5 — PolitiTweet.org

SBF @SBF_FTX

@MetaLawMan https://t.co/8fa4tZsMr5 — PolitiTweet.org

SBF @SBF_FTX

FTX US is solvent, as it always as been. https://t.co/XjcyYFsoU0 https://t.co/kn9Wm9wxjl — PolitiTweet.org

SBF @SBF_FTX

@TiffanyFong_ sometimes the world needs to see something, you know? — PolitiTweet.org

SBF @SBF_FTX

@AFTXcreditor a) they weren't in estate b) nonetheless my lawyers offered >> 90% of it for customers c) or 100% if D&O obligations were honored That being said, this was super clumsily done on our side. https://t.co/tCnlSIxkNp — PolitiTweet.org

SBF @SBF_FTX

@AFTXcreditor so I think the actual answer here is the following, roughly, as of ~November 10th: 1) ~$11.5b of assets (some on FTX), ~$3.5b of which were highly liquid 2) ~$1.5b of non-FTX liabilities 3) ~$10b of FTX liabilities so you can get $8b as (10 - (3.5 - 1.5)) or $11.5b raw — PolitiTweet.org

SBF @SBF_FTX

@AFTXcreditor @MetaLawMan alas I think reporters have not been particularly interested in stories about FTX customer/creditor recovery or the chapter 11 process — PolitiTweet.org

SBF @SBF_FTX

@wasscast @itsmadeofcheese @wassielawyer tell me more about Wasscast! — PolitiTweet.org

SBF @SBF_FTX

@compound248 Reasonable thread! And yeah I didn't realize it would ask for contributions, I turned that off just now :P — PolitiTweet.org

SBF @SBF_FTX

@QuintenFrancois wait FTX definitely wasn't spending $180m/year on Amazon delivery costs I think your units are probably off somewhere there? — PolitiTweet.org

SBF @SBF_FTX

@ceostroff @Vlajournaliste heh whoops that was unintentional, good catch--think there shouldn't be a paying option anymore... — PolitiTweet.org

SBF @SBF_FTX

@ceostroff @Vlajournaliste heh whoops I that was unintentional, good catch--think there shouldn't be a paying option anymore... — PolitiTweet.org

SBF @SBF_FTX

https://t.co/XVd0BPHxEU — PolitiTweet.org

SBF @SBF_FTX

@wassielawyer yup my sense is that is and always has been the best recovery scenario for customers. I think that them being made substantially whole is a real possibility; I think we were possibly a few weeks away from getting there in November. (US is solvent, should make everyone whole.) — PolitiTweet.org