We just posted our latest coverage on the FTX saga. This one is on David’s blog. [David Gerard]
SBF is back on US soil, after being escorted by the FBI from the Bahamas to NY, and yes, he is free on bail. His parent’s secured their Palo Alto home on a $250 million personal recognizance bond. Their home is only worth a fraction of that.
SBF’s friends Caroline Ellison and Gary Wang have been charged as well, but they’ve ratted Sam out to save themselves.
Expect more superseding indictments to come. The DoJ is coming down fast and hard on FTX.
The entire game in crypto right now is pretending you’re solvent when you’re not. We’ve put together a list of clever tricks that crypto firms are currently employing to do this.