$751m of $1,360m in assets of FTX US bankruptcy filing is vapor 🧵 \ stacker news ~bitcoin

$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

25 sats \ 0 replies \ @AJ 11 Dec 2022

Schemers

0 sats \ 0 replies \ @cryptocoin OP 11 Dec 2022

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]