Introducing the Web3 Industry Recovery Initiative!
#Binance and a number of key industry partners have joined together to commit $1B+ to provide financial support to the most promising and highest-quality companies that need it most.
Let's support industry growth together.
Good read about how fighting crime is done in crypto. The main law enforcement characters, Tigran Gambaryan and Matt Price both work in the cybercrime team @binance now.
https://t.co/LvlAKQ8Jkj
A quick but important correction:
This is the A-team of corporate crime.
These kinds of attorneys are rarely involved in bankruptcies: they're fundamentally criminal and regulatory investigators.
1/ Our team did a deep dive into #FTX balance sheet revealed today by Financial Times and wow I’d be surprised if users are going to see more than 5 cents on the dollar after all of this is over
The Bahamas' securities regulator, @SCBgov_bs, said Saturday it had not required @FTX_Official to reopen withdrawals for local customers, contradicting the explanation FTX gave for allowing those withdrawals.
@nikhileshde reports
https://t.co/eeuaY4IfE1
@interfluidity SBF the public figure deserves what it's getting and it's even healthy to have a good dunking session to reaffirm important community values.
Sam the human being deserves love, and I hope he has friends and family that can give it to him.
Two tier withdrawals is insane. To those buying Bahamas passports and ferreting funds out of there, you are a moron. You think when grant thornton etc gets in there to liquidate they won’t figure it out?
Apparently this is a Bahamas account withdrawing other people's funds for them.
They are likely bypassing the internal balance transfers block by selling NFTs on FTX's NFT marketplace -- eg. Bahamas account creates an NFT, the stuck user buys the NFT with their full balance.
Lolll not surprised any more. Feel bad for anyone who sold their FTX balances for 10c on the dollar just for @AlgodTrading and his partner to cash out 90c right after