Jesse Powell

Jesse Powell @jespow

@mikulaja @SBF_FTX @cz_binance @paoloardoino @justinsuntron Which never happened. If you think a $250k short would be a threat to #tether or something we'd waste our time talking about, I can understand why you still trust the MSM for your news. The story makes no sense. It's absurd on its face and any #tether chart will tell you that. — PolitiTweet.org

Jesse Powell @jespow

@Awawat_Trades You do you. Always open to feedback on how we can improve. FWIW, I'm not trying to FUD Binance. I have merely called attention to misinformation about Proof of Reserves, attempts to redefine the term, and shortcomings of collateral accounting. Too much bad information out there. — PolitiTweet.org

Jesse Powell @jespow

@mikulaja @SBF_FTX @cz_binance @paoloardoino @justinsuntron This never happened. Coordination is actually codified in law and explicitly approved under Section 314(b) of the USA PATRIOT Act. Crypto is democratizing and transparent because there are no gatekeepers and the blockchain is eternal and open to all. https://t.co/XlbtQfY8lq — PolitiTweet.org

Jesse Powell @jespow

@mikealfred Proof of Reserves shouldn’t be dollarized. You do it on a per-asset basis and you simply compare the quantity of tokens owed vs controlled. Playing accounting tricks with “equivalents” and collateral value is exactly how FTX faked being solvent. https://t.co/8zDcDfI5xd — PolitiTweet.org

Jesse Powell @jespow

@mslopatto Fake news. Doubt this chat ever happened. I certainly wasn't in the room. Likely, someone trolling the MSM. The Tether story doesn't even make sense. The story here is that WSJ & NYT were easily duped in to writing a made up story about nothing. — PolitiTweet.org

Jesse Powell @jespow

>I am not entirely sure who leaked them or who stands to benefit. Good question. Here's another: why is it so easy to get the MSM to publish fake news? I denied this and pointed out the absurdity. $250k tether short? It's long-known exchanges coordinate to recover stolen funds. — PolitiTweet.org

Jesse Powell @jespow

@RRunner144 @krakenfx @KrakenRum @SeattleKraken @yoyoel @elonmusk At least that’s the official story, so far. But we know they were using parallel construction to create plausible reasons to ban where they had no legit reason. — PolitiTweet.org

Jesse Powell @jespow

@BillboardChris How about D for donkey love too? There is no end to this. What is the point of all the letters anymore if it’s allowed to be co-opted by mental illness and harmful behavior? https://t.co/nAqNJiomRc — PolitiTweet.org

Jesse Powell @jespow

Anyone know the exact date that “kraken” @krakenfx @KrakenRum @SeattleKraken got thrown in Twitter jail? Nice that someone released the krakens but how long were we demonlisted or whatever? — PolitiTweet.org

Jesse Powell @jespow

@zhusu @KyleLDavies Makes sense. Thanks for the color. Turns out, the liquidity was effectively a rebate out of the client funds. Was the liquidity too good to be true? Maybe hard to know but lesson is diversification across venues/custodians is probably worth paying a few extra bps here and there. — PolitiTweet.org

Jesse Powell @jespow

@JohnReedStark @TYonClubhouse Big red flag for me is that this seems to be more of an attempt at proving collateral rather than proving reserves. They even admit to be insolvent with regard to actual assets owed vs tokens controlled. The “collateral” accounting trick is exactly how FTX played solvent as well. — PolitiTweet.org

Jesse Powell @jespow

@KyleLDavies What could the exchanges with lower counterparty risk have done to get your business? Or, we’re you at FTX for services that the long-standing legit exchanges were prohibited from offering? Why were you trading on FTX despite many red flags when there were less risky options? — PolitiTweet.org

Jesse Powell @jespow

@0xbadhash The merkle tree itself is worthless if it includes negative balances. Kraken was the first to implement the legit PoR and did two in the past year. https://t.co/QEZo0DzJfw — PolitiTweet.org

Jesse Powell @jespow

@0xbadhash This was the original description: https://t.co/ALcfi7rLUV — PolitiTweet.org

Jesse Powell @jespow

@MagicCityCrypto If you're referring to the $250k tether short chat room, that's fake news and I told them so. But, exchange CEOs have worked together in the past on things such as freezing stolen funds. — PolitiTweet.org

Jesse Powell @jespow

Another misleading "PoR" AUP (not an audit) released today. Apparently, there is no consistent process used across exchanges. Again, the process strays far from the original spec.🤦‍♂️ 1. "interchangeable" assets 2. negative balances included 3. no signing 4. aggregation by "class" — PolitiTweet.org

Jesse Powell @jespow

@elonmusk Please sell or auction these so they aren’t just squatted by bots all over again. — PolitiTweet.org

Jesse Powell @jespow

Shocking but not surprising. Every "journalist", editor and publication observed openly fellating Sam's cucumber in the past month needs to be investigated. — PolitiTweet.org

Jesse Powell @jespow

@brockm It's def the local demographics that are the strongest predictor of someone's politics. But, even if you're a global remote co, a few intolerant ideological extremists in the Recruiting org or on top of a large function can do a huge amount of damage by filtering out diversity. — PolitiTweet.org

Jesse Powell @jespow

I liked this story better the first time when it was called Austin Powers. "Elite cabal of crypto CEOs collude to defend #Tether peg against a $250k short." 😂 Kudos to the journalists who asked about this absurdity and didn't take the bait from whatever troll was shopping it. https://t.co/SKrw0vHWcX — PolitiTweet.org

Jesse Powell @jespow

@BinanceHelpDesk We're talking about 2 different things. The PoR is not a Proof of Collateral. The question is do you have 1:1 BTC in custody for each BTC in someone's balance (including loans and margin). If you're lending BTC, that BTC comes from somewhere. — PolitiTweet.org

Jesse Powell @jespow

@adamisapleb We did the first one in 2014 and 2 in the past year. https://t.co/Mb2jyaVRys — PolitiTweet.org

Jesse Powell @jespow

🤔 In general, signalling theory says that if you have a good way of proving something and a noisy way of proving something, and you choose the noisy way, that means chances are it's because you couldn't do the good way in the first place. -- @VitalikButerin https://t.co/U41u72XdJt — PolitiTweet.org

Jesse Powell @jespow

A reminder: https://t.co/YNBFcBwm47 — PolitiTweet.org

Jesse Powell @jespow

ok, I'll give you a hint. This is just the easy stuff that says this OBVIOUSLY is not a traditional Proof of Reserves, and should immediately have had actual journalists digging. Why use collateral value? Why negative balances included? No wallet signing? Who issues BTCB & BBTC? https://t.co/F9u4XJ5WSi — PolitiTweet.org

Jesse Powell @jespow

🤡🌎💉💩 SF, known for ignoring every zoning and labor law when it comes to street camping, drug use/dealing, public defecation, now has a problem with Elon providing safe rest sites in his empty office. The city should be paying Elon $60k/yr per bed, like it is for the tents. — PolitiTweet.org

Jesse Powell @jespow

The US govt. prohibits US financial services from offering support to these women. Thankfully, #bitcoin is there as a humanitarian rail of last resort and lifeline to people being oppressed by their governments through a weaponized financial system. Hodling #BTC is philanthropy. — PolitiTweet.org

Jesse Powell @jespow

Dear media clowns, Do you think you have any duty whatsoever to evaluate the veracity of claims that are being made about audits and Proof of Reserves? Or, are we really going to do this all over again? Here's the headline: Media duped again. Couldn't be bothered to investigate. — PolitiTweet.org

Jesse Powell @jespow

Can someone please put @carolinecapital on "suicide" watch? — PolitiTweet.org

Jesse Powell @jespow

Remember to say the right shibboleths. The money I spent was from my profits. The money I lost was from your wallets. During the interview, cast the ultimates. — PolitiTweet.org