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 increasingly proof comes out, there is a clearer story forming, and the quick reply is under.
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 increasingly 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 fundamental story beats we have gotten up to now (some confirmed, some not):
SBF tries to show US regulators towards Binance.
CZ retaliates by happening 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 might break them.
CZ pronounces a big sale of FTT tokens.
Alameda gives to purchase them off him in a single over-the-counter sale (which suggests the value would not crash).
CZ refuses, basically saying ‘I do know what you have been saying about me to US regulators – why would I provide help 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 ☝️)
