TL;DR
Caroline Ellison saved a Google doc, titled: “Issues Sam Is Freaking Out About”
The doc included: ‘Getting regulators to crack down on Binance.’ Apparently Sam wished to make use of his good standing in Washington to have Binance investigated, and hopefully shut down.
Binance’s $2.1B fireplace sale of FTX’s FTT token – which was finished VERY publicly – primarily triggered the collapse of FTX.
Hell hath no fury like a crypto nerd scorned.
Full Story
Alright, SBF trial replace time! Seems Caroline Ellison saved a Google doc, titled:
“Issues Sam Is Freaking Out About”
Included on that record?
Elevating cash from the Saudis Presumably to plug the money-leaking-holes created by Alameda’s ‘borrowing’ of buyer funds.
Getting extra capital from BlockFi I.e. shopping for BlockFi and utilizing its belongings [aka customer’s money?] to fund FTX/Alameda.
Getting regulators to crack down on Binance. Apparently Sam wished to make use of his good standing in Washington to have Binance investigated, and hopefully shut down.
That final one is a doozy to learn in hindsight!
ICYMI: Binance’s $2.1B fireplace sale of FTX’s FTT token – which was finished VERY publicly – primarily triggered the collapse of FTX.
Had it have been finished privately/quietly, the collapse of FTX could not have occurred (at the very least, not at the moment).
Binance’s option to make the sale as public as doable all is sensible now.
Though, we should always have been capable of guess when CZ (Binance’s CEO) was concurrently tweeting stuff like:
“We can’t assist individuals who foyer towards different trade gamers behind their backs.”
Hell hath no fury like a crypto nerd scorned.
