Pinned
kadhim (＾ｰ^)ノ
2,789 posts
kadhim (＾ｰ^)ノ
@kadhim
Head of Investigations @FT
THE FTX FIRST DAY DECLARATION New CEO John Ray is scathing about Sam Bankman-Fried's management. "Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information." pacer-documents.s3.amazonaws.com/33/188450/0420…
- The Bulb story is truly mind-boggling. The UK government nationalised a failing energy company, and has now re-privatised Bulb through a sale to a rival. But the government is refusing to disclose the full terms of the deal, or why the whole saga has cost the taxpayer £6.5bn…
- Significant moment in the Celsius bankruptcy as Judge Martin Glenn rules that $4.2bn of crypto deposited by customers to earn interest belongs to the estate, not the users: cases.stretto.com/public/x191/11…
- Replying to @kadhimFTX says the "fair value" of all the crypto that FTX international holds is a mere $659! Remember that SBF has been marking it at $5.5bn: ft.com/content/f05fe9…
Readers added context they thought people might want to knowReaders added contextThis chart is in Thousands - so the actual value is $659,000. This is noted as well by the author of this tweet later on: twitter.com/kadhim/status/… - Baroness Mone claimed she had "no involvement" with PPE Medpro, recipient of £200m of Covid contracts. Now @jemimajoanna and @AnnaSophieGross reveal a bombshell civil service email claiming Mone was complaining to Hancock and Gove in support of MedPro ft.com/content/a48727…
- The FTX bankruptcy continues to not be going well FTX allowed withdrawals for Bahamian users, saying it was required by regulators — this created a black market for Bahamian user accounts Bahamian regulators now say ‘uhhh no we did not tell you to do that’
- Replying to @kadhimSam Bankman-Fried's hedge fund lent billions to... Sam Bankman-Fried (Paper Bird is his entity), so that's at least part of the answer of where the money went pacer-documents.s3.amazonaws.com/33/188450/0421…
- Replying to @kadhim🚨 FTX TRADING LTD BALANCE SHEET IN FULL 🚨 Spreadsheet was dated Thursday, the day before FTX Trading (main international exchange), FTX US, and Alameda were put into bankruptcy protection ft.com/content/f05fe9…
- Replying to @kadhimThis is mad stuff "I do not believe it appropriate for stakeholders or the Court to rely on the audited financial statements as a reliable indication" "The Debtors have been unable to prepare a complete list of who worked for the FTX Group as of the Petition Date"
- Replying to @kadhimI was apparently naive enough to think the government couldn’t privatise stuff without explaining exactly what the buyer was getting and at what price 🤷♂️
- 🚨Sam Bankman-Fried charged with paying a $40mn bribe to a Chinese government official in new superseding indictment
- Replying to @kadhim"In the Bahamas, I understand that corporate funds of the FTX Group were used to purchase homes and other personal items for employees and advisors"
- Replying to @kadhimThis sums it all up: FTX, FTX US and Alameda "do not have an accounting department". FTX raised $1.8bn (actual, real dollars) from Sequoia, SoftBank, Temasek, Tiger Global, Ontario Teachers’ Pension Plan, etc etc pacer-documents.s3.amazonaws.com/33/188450/0420…
