FTX Has Recovered Over $5 Billion in Cash and Securities, Attorney Says (reuters.com) 12
Crypto exchange FTX has recovered more than $5 billion in cash and liquid cryptocurrencies and securities, an attorney for the bankrupt company founded by Sam Bankman-Fried told a judge on Wednesday. From a report: [FTX Attorney Andy] Dietderich also said that the company plans to sell non-strategic investments that had a book value of $4.6 billion, although the company's books have been described as unreliable.
5 billions in real money (Score:5, Funny)
Or shitcoins?
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he could have orchestrated the same scam with "real" money that is printed whenever we need it
Re: 5 billions in real money (Score:2)
So yeah, worthless shitcoin. The only value remaining already got extracted by the insiders before the house of cards fell
Doubt it's the securities that matter... (Score:3)
As those would be the shares that prove that FTX actually held 1:1 holdings in AMC, Gamestop, etc. when it sold crypto tokens, basically NFTs, that supposedly had a 1:1 backing against real shares of AMC, Gamestop, etc. As apes point out [reddit.com], where are the SEC filings for FTX as a major shareholder, among other things?
That's a major crime in its own right, but unlike the crypto smash-and-grab that FTX and Alameda did, the "tokenized securities" that FTX was selling have implications for the whole stock market because it appears they were providing them as liquidity for big shorts on meme stocks.
"Unreliable"? (Score:1)
That's like chucking someone into the sun and describing it as "warm".
Old list from financial times (Score:2)
$52 dollars and $5 billion in SBF coins (Score:2)
and 2 cents found on Caroline's desk.