Cool story, Bro!!

Jail. Directly to jail. This was not "a fuck up".

(But, we know, that will never happen. Meanwhile the dude that coded Tornado Cash sits in jail, as does Julian Assange, and Ross Ulbricht is in for double life.)

Nitter: https://nitter.it/SBF_FTX/status/1590709166515310593 <-- Shows the thread in a single, easy-to-read, web page

SBF always maintained that FTX was over-collateralized. But now it turns out that was based on daily average withdrawal rate, not total accounts. So when tons of people tried to withdraw at once, it was proven that FTX was actually under-collateralized. He knew this was the case the whole time.

The real mistake he made was thinking he could use an accounting trick to defraud people forever. Accounting tricks always blow up in your face sooner or later.

No mention of him lying 2 days ago about user funds, access to liquidity, etc. I am happy this clown has been exposed

The steelman argument here is hoping they make it without more drama - with all customers getting their money back. This would set a precedent that even the worst crypto casino can get out of trouble without the bailout of governments and central banksters. Of course SBF and his fellow directors will have to pay

I had nor would've anything in FTX

lmao