1/ Genesis notes their goal is to ‘resolve the current situation consensually’ via ‘constructive conversations with creditors.’
This is a high-stakes gambit and looks like a lose lose situation.
Plot twist: Gemini Earn users could get a Genesis equity airdrop...
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Financial markets are underpinned by trust - when there’s trust they work when there’s not they don’t
Barry Silbert’s silence over the last few weeks is deeply troubling and erodes trust in crypto’s capital markets
We know you're worried but trust us, we won't fuck you. We can't show you that we hold the asset you've purchased through us, because then you would know that we're fucking you.
[NEW TODAY] Due to recent events, investors are understandably inquiring deeper into their crypto investments. In this thread we’ve compiled additional information about the safety and security of the assets held by our digital asset products. https://t.co/MvTfUoK4o6 🧵
The telephone, the internet, and crypto share one thing in common. Each technology improves on the next in terms of its ability to facilitate fraud. As such, I was initially a crypto skeptic, but after studying some of the more interesting crypto projects, I have come to
The SEC specifically requested that we stopped sharing with the public what it is like to be investigated by the SEC as part of their settlement proposal.
@SBF_FTX You can't make us think you're not the bad guy in all of this. This isn't someone else's fault, this is your own recklessness and fraudulent activities that lost billions of dollars of millions off client funds
JUST IN: The SEC has charged S&P Global Ratings with violating conflict of interest rules designed to prevent sales and marketing considerations from influencing credit ratings.
1/ Why would FTX acquire Voyager and BlockFi if they had no cash and were insolvent?
What were they thinking?
It’s truly Machiavellian. Here’s a thread on my hypothesis…