I read the declaration. The tone of the thread is a fair reflection of the declaration.
It seems extremely likely that FTX was insolvent at all relevant times for fraudulent conveyance purposes.
Some people have wanted to wait for more information before condemning SBF as a fraudster, or have hoped he committed a single large ethical lapse in a crisis. Those positions are in my mind no longer plausible.
I don’t see how this doesnt result in a very long prison sentence for SBF.
It also reveals SBF—definitively—to be a liar and a fraud. A team of the most experienced restructuring experts in the world under penalty of perjury have submitted to the courts a document that shows nearly EVERY public statement SBF has made in the last week to be a lie.
tl;dr FTX is worse than Enron: - run by SBF + a few insiders using Signal—committing immense fraud—and no sense of bank accounts, employees, cash on hand, liquidity management, digital asset custody, cybersecurity practices, or any form of corporate control or governance
I read the declaration. The tone of the thread is a fair reflection of the declaration.
It seems extremely likely that FTX was insolvent at all relevant times for fraudulent conveyance purposes.
Some people have wanted to wait for more information before condemning SBF as a fraudster, or have hoped he committed a single large ethical lapse in a crisis. Those positions are in my mind no longer plausible.
I don’t see how this doesnt result in a very long prison sentence for SBF.
- jonwu.eth [last 2 tweets of the thread]