UCTaskforce

FTX collective

Empowering Creditors Unity
Decentralizing the recovery
Being the voice of the voiceless

[UCTaskforce @uc_taskforce]

The time has come for our voices to be heard.

We will submit our research to Judge Dorsey to be included in the official court record - ensuring our ideas see the light.

If you have any insider information, please contact us on the website.

WE NEED YOUR HELP.

[UCTaskforce @uc_taskforce]

@j0hnwang Hi can i get an access please? 🙏

[UCTaskforce @uc_taskforce]

Exactly.

And as it is competing, you pick the one that fills your need the best. This is actually how users moved from Fbk to snap. 0 portability between the 2, and snap became a public company.

How does your thesis stand? Why wouldnot the same happen here? Monopolies are made to be eroded. Not an easy challenge though i agree with you.

[UCTaskforce @uc_taskforce]

@0xBreadguy Wait, why are you comparing it to twitter?
We talking web3 or cross-industries?

You mentioned onchain so… but still if farcaster in the future captures just like 1% of the 300b annual revenues of this industry, i don’t see how you can maintain such a thesis.

[UCTaskforce @uc_taskforce]

@0xBreadguy Farcaster is the only socialpp winning currently & is invalidating your current thesis.

Not even talking about FTech which literally did everything wrong except being early.

So where do you invalidate your point?

[UCTaskforce @uc_taskforce]

@bkclaims @___D_e_l_t_a___ Here you go

[UCTaskforce @uc_taskforce]

5.5b liquid
As they are rushing to avoid the examiner to slap them, they will likely sell locked sol at a discount make it 50% so 1.75-2b realized
1.5b Anthro
0.5b GDA
= 9b

Add the btc and eth (not sold but hedged), $hood for 600m, 400m hack, and the other assets (real estate, vc book like Dune, Artemis)

They could also choose to give locked solana to creditor, i would personally be happy.

Customers liab is 10.9b by memories.

Done.

[UCTaskforce @uc_taskforce]

@bkclaims I have one, happy to discuss

[Aaron Bennett @Aaronbennett]

➡️Avoiding The FTX "Rug Pull"
Independent Examiner
➡️Bankruptcy Corruption
& The 125% Claim w/ @LouisOrigny

[UCTaskforce @uc_taskforce]

@bkclaims @mjpldn And a refresher about docket 530, enjoy the declaration

[UCTaskforce @uc_taskforce]

@bkclaims @mjpldn This might help too
https://t.co/m5nWvDsyWf

[MetaLawMan @MetaLawMan]

Well, I just finished reading the Declaration of Daniel Friedberg.

It is fair to say that this is one of the more shocking sworn statements I have read in a good long while.

If half of what Mr. Friedberg says is true, he has just blown the top off of this bankruptcy case.

[UCTaskforce @uc_taskforce]

@bkclaims @mjpldn Docket 1727

[UCTaskforce @uc_taskforce]

@mjpldn @bkclaims https://t.co/JKfwvBrMls

Summary here you were right!

[UCTaskforce @uc_taskforce]

@mjpldn @bkclaims Do you suppose or they actually mentioned it and i missed it? Would love it!

[Simon Dixon @SimonDixonTwitt]

Mr. Gox creditors won the battle to keep the 10% of #Bitcoin that was left in #BTC early in the case.

The court wanted to sell it all for $USD.

It took 10 years as new subordinated creditors kept suing the estate when it went past 100% whole.

But they all lost.

Creatures lost 90% of their Bitcoin, but kept all the upside & the $BCH hard fork.

We got the same result for #Celsius creditors by fighting to keep the leftover #Bitcoin that Mashinsky did not scam from his customers.

Here was the letter I used to present this issue to the US court:

https://t.co/rDjIU5iSFZ

That saved us losing an additional $1.5bn at the new #BTC price.

#FTX & #BlockFi dumped for creditors unfortunately. 😡

[Mr. Purple @MrPurple_DJ]

The question is also one of claim value. Is a BTC holder entitled to a $16.8k claim or one at Subsequent New Value for how their claims are treated?

Plan confirmation would need to finalize a value (likely as a compromise to get to a consensual plan) that would pay $ above petition date and any proportion of in kind assets that can be distributed (BTC/ETH/SOL) that the estate still holds.

[Simon @simoncarter_uk]

@FTXRELOADED Until now, the debtors have been marking their own homework, so it's no surprise they fear what an independent examiner might unearth.

[𝘽𝙖𝙡𝙙𝙧 ® 💎 @Raptorj69]

🚨 Breaking News!

THE DEBTOR AIM TO EMERGE FROM CHAPTER 11 BY MID-YEAR.

In a Letter to the Judge Dorsey,
The debtor argue that the appointment of an independent examiner will slow down the process.

[UCTaskforce @uc_taskforce]

I don't get the part of the legal argument.

There is fraud; that's literally the strongest legal argument they teach us in civil law schools. It corrupts everything from a legal perspective. Looks like common law does not care much much much about that? It is cool to hear about the bankruptcy code, but that's the standard for standard bankruptcy. Is that a standard bankruptcy? 150 objections to petition date valuation, $10b fraud, 1m creditors, conflicted debtor? And we should abide by the standard in a completely non-standard case?

What about the fraud recovery by itself? I have a very hard time conceiving a legal system where the impossibility to recover defrauded assets is not translated into an equal claimable amount of money. This is a legal atrocity for my way too formatted civil law perspective.

20% additional recovery? Meanwhile, assets went ballistic, it is a joke honestly. I will have a banana and some chocolate on top please.

I know that you know, but once again, the legal argument is there, you combine FTX ToS + the fraud argument. We dont care about "our cryptos" but we care about their value.

Whatever is on excess of 100% should come back to crypto-creditors, am glad to witness all this creditors agitation because i cant conceive a waterfall with a scenario where equity holders get potentially billions in an Anthropic IPO and Solana bull case later on.

Oh and finally, pretty funny to see the debtor starting hurrying things post-examiner, announcing announcements for next week + emergence out of chapter 11.

=> To me, everything in this case starts smelling like a complete reversal in the balance of power in the making.

It is time to strike harder.

https://t.co/XYU0jwvn5F

[𝘽𝙖𝙡𝙙𝙧 ® 💎 @Raptorj69]

🚨 Breaking News!

THE DEBTOR AIM TO EMERGE FROM CHAPTER 11 BY MID-YEAR.

In a Letter to the Judge Dorsey,
The debtor argue that the appointment of an independent examiner will slow down the process.

[UCTaskforce @uc_taskforce]

FOLLOW THIS THREAD

[Arush (FTX Creditor) @arush]

For anyone still brainwashed by the debtor's "petition date pricing is law" - just take a look at the Genesis Plan as precedent. Docket 1031

after USD holders are made whole, soft in-kind recovery for btc, eth holders

why are we instead allowing value to accrue to alameda lenders, SBF and VCs who have publicly written their equity to zero?

@VladimirVjel @LouisOrigny @sunil_trades @ftxcoalition @Ftxcommunity

https://t.co/Culkxw3BDa