TL;DR
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Caroline Ellison stored a Google doc, titled: “Issues Sam Is Freaking Out About”
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The doc included: ‘Getting regulators to crack down on Binance.’ Apparently Sam needed to make use of his good standing in Washington to have Binance investigated, and hopefully shut down.
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Binance’s $2.1B fireplace sale of FTX’s FTT token – which was accomplished VERY publicly – basically triggered the collapse of FTX.
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Hell hath no fury like a crypto nerd scorned.
Full Story
Alright, SBF trial replace time! Seems Caroline Ellison stored a Google doc, titled:
“Issues Sam Is Freaking Out About”
Included on that listing?
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Elevating cash from the Saudis
Presumably to plug the money-leaking-holes created by Alameda’s ‘borrowing’ of buyer funds. -
Getting extra capital from BlockFi
I.e. shopping for BlockFi and utilizing its belongings [aka customer’s money?] to fund FTX/Alameda. -
Getting regulators to crack down on Binance.
Apparently Sam needed to make use of his good standing in Washington to have Binance investigated, and hopefully shut down.
That final one is a doozy to learn in hindsight!
ICYMI: Binance’s $2.1B fireplace sale of FTX’s FTT token – which was accomplished VERY publicly – basically triggered the collapse of FTX.
Had it have been accomplished privately/quietly, the collapse of FTX might not have occurred (a minimum of, not at the moment).
Binance’s option to make the sale as public as potential all is smart now.
Though, we should always have been capable of guess when CZ (Binance’s CEO) was concurrently tweeting stuff like:
“We cannot assist individuals who foyer in opposition to different business gamers behind their backs.”
Hell hath no fury like a crypto nerd scorned.
