TL;DR
Bear in mind SBF’s well-known 9 half tweet thread that requested: 1) What 2-9) H-A-P-P-E-N-E-D?
Nicely, as an increasing number of proof comes out, there is a clearer story forming, and the quick reply is beneath.
Ethical of the story: See gif ☝️
Full Story
Bear in mind SBF’s well-known 9 half tweet thread that requested:
1) What
2-9) H-A-P-P-E-N-E-D?
Nicely, as an increasing number of proof comes out, there is a clearer story forming, and the quick reply is:
SBF f*cked round and came upon.
Right here’re the essential story beats we have gotten to this point (some confirmed, some not):
SBF tries to show US regulators towards Binance.
CZ retaliates by occurring a PR blitz, leaking Alameda’s stability sheet to CoinDesk.
The leak reveals how unstable Alameda is, and that a big sale of FTT tokens may smash them.
CZ proclaims a big sale of FTT tokens.
Alameda affords to purchase them off him in a single over-the-counter sale (which suggests the value would not crash).
CZ refuses, primarily saying ‘I do know what you have been saying about me to US regulators – why would I show you how to?’
Alameda goes underneath.
What few folks knew was…Alameda had been borrowing (stealing) buyer funds from FTX.
Which meant as Alameda went down, it took FTX with it.
Ethical of the story:
(See gif ☝️)
