Originally Posted by
Dan Druff
The problem with all of these figures he's vomiting out:
1) No way to verify if any of this is true, partially true, or completely made up
2) He isn't addressing the most important part of these allegations -- whether or not he stole $10 billion out of FTX, and whether he installed a backdoor in the software so he could do it without detection
Until he addresses #2, nothing else he says matters.
He talks about assets like they're real.
FTT was pulled out of his arse.
FTX would list crypto assets they put the start-up cash into. List only on FTX with less then 1% in circulation... not hard to manipulate that start-up money into billions with a few million here and there, thinly traded and easy to pump it up. Use this as collateral, along with essentially worthless FTT.
I think the $10b came from minting more FTT mostly.
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