Ra’s al Cool

[Sunil (FTX Creditor Champion) @sunil_trades]

FTX customer funds were directly traced to Anthropic, Genesis Digital Mining etc by Professor Easton in the SBF Trial

100% should go back to FTX creditors (not as plan proposing 60%) with a cap at petition prices

Tracing has already been done

[Sunil (FTX Creditor Champion) @sunil_trades]

$400m from FTX hack likely to be recovered eventually

Trio (Powell, Rohn and Hernandez) responsible charged by DOJ

Used SIM swaps to defraud 50+ victims between Mar 21 to Apr 23 including FTX hack

[Mr. Purple @MrPurple_DJ]

The claim circulating CT is real and a few things to note:
1) Tax man does get paid 1st in a BK which is why it is filed under an Admin Priority status

2) FTX estate will defend against this claim

3) Calculation of their claim was not publicly filed but few things jump out:
a) Includes a $12B claim (partnership income) for the tax period 2023! Clearly that makes no sense.
b) Claims $8B in same tax for 2022 which would exceed all revenue
c) Claims $122mm per quarter for FICA (payroll tax). Payroll taxes are ~15% so this would imply $3.2B of annual salaries.
d) does not claim any interest & penalties which is where you usually see large $ amounts

4) Claims are often inflated in a BK for many reasons:
a) sue high and settle less
b) sometimes claims get filed for same claim against each individual debtor entity (in this case there are 130 of them) but claims can't be settled 2x-130x for same underlying claim. It's done procedurally to make sure claim isn't disallowed for filing against incorrect entity.

5) Other BKs have had very large claims to settlement amounts from the IRS, for example this was sent me (claim/settlement):
a) Lehman - $1.2B/$370mm
b) WorldCom - $626mm/$47mm
c) Chrysler - $500m/$60mm
d) PG&E - $2.5B/$90mm

[loomdart @loomdart]

FTX 2.0 is much more about the ability to airdrop an exchange to over a million actual traders (with gigantic chunks going to market makers) who will then have giga vested interest in exchange being liquid and having high volume, than it is about just "reopening" current ftx

[Chamath Palihapitiya @chamath]

The faster we vaccinate, the quicker we prevent the virus from mutating to a version that existing vaccines DON’T treat.

So stop virtue signaling with these dumb vaccination criteria and start mass vaccination programs. NOW!!

[Ra’s al Cool @TheCoolRas]

@devchart But Sir, you didn’t claim anything. 😈

[Ra’s al Cool @TheCoolRas]

@bitcoinjack He can’t compete with @officialmcafee regarding Coke and hookers. John McAfee will snort Portnoy and 100k of Coke and still be not high.

[Ra’s al Cool @TheCoolRas]

@bitcoinjack How are the waves?

[Ra’s al Cool @TheCoolRas]

@donalt I haven’t surfed in years. Maybe I should give some advice about mad surfing skills.