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$751m of $1,360m in assets of FTX US bankruptcy filing is vapor 🧵nitter.at/EpsilonTheory/status/1601952544334675973
75 sats \ 2 comments \ @cryptocoin 11 Dec 2022 bitcoin
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The link for this post uses a read-only front-end for Twitter, which can be easier to read for viewing a full Twitter thread. The Tweet that kicked off the thread is:
BlockFi got a $400m credit line from FTX US and drew down $250m, not in cash but in FTT tokens.
BlockFi lent $680m to Alameda, not in FTT tokens but in client deposits.
Maybe @BlockFiZac and @SBF_FTX can explain how this isn't outright fraud with US-regulated entities.
https://i.postimg.cc/XJfcNCns/image.png
The thread continues:
When @SBF_FTX tells Congress this week that he thought US clients at FTX US were fine and could get their money back, he's lying. >
From the bankruptcy filing for the FTX US group - $751m of $1,360m in assets is vapor.
https://i.postimg.cc/Pxvf1WCM/image.jpg
https://twitter.com/EpsilonTheory/status/1601952544334675973 [Nitter]
And a Quote Tweet reply:
BlockFi is a >$1b bankruptcy impacting US retail clients, and all of this information has been publicly available for weeks.
I've seen zero MSM coverage on this, and I've never been contacted by a MSM journalist.
https://twitter.com/EpsilonTheory/status/1601962391885221888 [Nitter]
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