Ex-FTX CEO Sam Bankman Fried stated in a latest tweet that Alameda had extra property than liabilities as of Nov. 7, just some days earlier than it filed for chapter, however famous that the property weren’t liquid.
Bankman-Fried maintains that FTX US had sufficient cash to repay all prospects as of Nov. 7. He additionally famous that Alameda held a margin place in FTX Worldwide.
12) To one of the best of my information, as of post-11/7, with the potential for errors:
a) Alameda had extra property than liabilities M2M (however not liquid!)
b) Alameda had margin place on FTX Intl
c) FTX US had sufficient to repay all prospectsNot everybody essentially agrees with this
— SBF (@SBF_FTX) November 15, 2022
The latest tweet nonetheless raises many questions on how FTX dealt with customers’ funds. One Twitter person talked about Alameda holding margin positions with person funds.
The ex-CEO began the Twitter thread with the phrase “what” adopted by a sequence of cryptic one-letter tweets that in the end spelled out “HAPPENED.” One Twitter person speculated that this might be an try by Bankman-Fried to plead madness if ever introduced earlier than a court docket.
Appears to be like like somebody’s planning an madness protection https://t.co/VIZGrN1NGv
— Alex Berenson (@AlexBerenson) November 14, 2022
In an interview with The New York Occasions, Bankman-Fried defined his cryptic tweets as follows:
“I’m making it up as I am going,” and the sequence of tweets is “going to be a couple of phrase.”
Appears to be like like somebody’s planning an madness protection https://t.co/VIZGrN1NGv
— Alex Berenson (@AlexBerenson) November 14, 2022
Bankman-Fried stepped down as CEO when his firms filed for chapter however will help with the transition to John Ray’s management.
Bankman-Fried’s crypto buying and selling agency and FTX US, the corporate’s U.S. subsidiary, are amongst 130 corporations concerned within the chapter proceedings.
