TL;DR
Keep in mind SBF’s well-known 9 half tweet thread that requested: 1) What 2-9) H-A-P-P-E-N-E-D?
Effectively, as an increasing number of proof comes out, there is a clearer story forming, and the brief reply is beneath.
Ethical of the story: See gif ☝️
Full Story
Keep in mind SBF’s well-known 9 half tweet thread that requested:
1) What
2-9) H-A-P-P-E-N-E-D?
Effectively, as an increasing number of proof comes out, there is a clearer story forming, and the brief 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 steadiness sheet to CoinDesk.
The leak exhibits how unstable Alameda is, and that a big sale of FTT tokens might wreck them.
CZ broadcasts a big sale of FTT tokens.
Alameda provides to purchase them off him in a single over-the-counter sale (which implies the worth would not crash).
CZ refuses, basically saying ‘I do know what you have been saying about me to US regulators – why would I enable you?’
Alameda goes beneath.
What few individuals 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 ☝️)
