Nicholas Hall @nicholashall Twitter profile

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@_oassa

Nicholas Hall

@nicholashall

16 days

FTX Plan Takeaways You've likely heard claims below $50k get 118%. Claims over $50k get 127% to 142% over time. Now that we have that out of the way, let's talk about the hidden pitfalls in the plan. Below is what I don't like about the plan. 🧵👇

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Nicholas Hall

@nicholashall

5 months

Sullivan & Cromwell earned at least $8.56M from FTX pre-bankruptcy. Dietderich writes this email 4 days before FTX filed bankruptcy: “FTX is rock solid, doesn’t use customer funds or take credit risk at all. It cannot have “liquidity” issues because it doesn’t lend.” S&C is now

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Nicholas Hall

@nicholashall

1 year

@clhubes

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Nicholas Hall

@nicholashall

2 months

Every single time I see Andrew Dietderich on a pleading in the FTX case I'm dumbfounded. As a practitioner, I simply do not know how he is not conflicted out of the case entirely. It is extremely inflammatory for FTX customers to see his name on a regular basis, especially on

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Nicholas Hall

@nicholashall

11 months

#FTX is requiring all customers to KYC. This means that your Customer Claim may be DENIED unless the Debtors reach an agreement with the @FTX_Committee or the Court rules otherwise. Debtors claim that the KYC process is required to ensure a legitimate claims trading market.

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Nicholas Hall

@nicholashall

1 year

Should #FTX creditors file a proof of claim ("POC"), even if their bankruptcy claim is scheduled (and they received the Kroll unique ID email)? Simple answer: Yes, file a POC. Let's discuss why filing a POC is crucial, particularly for FTX international customers. 🧵👇

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Nicholas Hall

@nicholashall

15 days

Right, FTX estate bragging when plan not confirmed. We haven't seen the 3D chess moves deployed in high stakes bankruptcy. Early this morning got pulled into a meeting with multi-billion dollar fund going over plan disruption strategies. 🧵👇

Adam Cochran (adamscochran.eth)

@adamscochran

16 days

I also just realized FTX estate is bragging about you getting 118% of claim value, but claim value is from when BTC was $20k~ So while assets did 300%+ only 18% of that is coming back to those owed. So gross.

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Nicholas Hall

@nicholashall

1 year

@RussellOkung @CelsiusLoans @NFL Unbelievable amount of willpower. Congrats, Russell!

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Nicholas Hall

@nicholashall

1 year

1/12 Unraveling the IRS Administrative Priority Claim in the #FTX bankruptcy case: how this impacts the restructuring process in a case involving massive fraud. Writing this because I'm seeing a lot of bad takes that are likely confusing a lot of creditors. 🧵👇

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Nicholas Hall

@nicholashall

16 days

3/◉ Undeliverable Distributions You lose your entire FTX claim if you fail to cash your check for 6 months. Check lost in the mail? Lose your claim. Accidentally throw away the envelope? Lose your claim. No address on file and email goes to spam? Lose your claim.

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Nicholas Hall

@nicholashall

16 days

2/◉ Cash Distributions I'm fairly disappointed debtors are planning to pay creditors with cash by check or wire. This is could hurt a lot of creditors living in bad banking countries and/or without dependable mail.

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Nicholas Hall

@nicholashall

14 days

FTX customers need to fight for it, but I think they get some favorable concessions heading into plan confirmation. Here's a video of me talking about the process with @JennSanasie on Coindesk TV. Special thanks for having me on 🙏

Found

@foundxyz

14 days

Coindesk TV and Found's CEO @nicholashall talk FTX bankruptcy plan issues and likely outcomes @CoinDesk

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Nicholas Hall

@nicholashall

6 months

One of the largest FTX buyers just told me that bids are now at 65 for high quality claims. There is a 20mm ask at 68. Bid-ask spread very tight. DM if interested.

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Nicholas Hall

@nicholashall

2 months

Do you have Unabomber prosecutor probing Sullivan & Cromwell on your 2024 FTX bingo card?

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Nicholas Hall

@nicholashall

1 year

Today we launched @foundxyz to transform bankruptcy claims into a modern asset class. The scheduled value of crypto bankruptcy claims is $20 BILLION. The greater market is about $1 TRILLION. Here are 21 reasons why Found will change distressed debt investing forever: 🧵👇

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Nicholas Hall

@nicholashall

16 days

4/◉ Preferences If you don't vote in favor of the plan, you may be subject to a preference action. This means if you don't vote at all, you may face a preference action. Nothing like the threat of litigation to win your vote.

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Nicholas Hall

@nicholashall

16 days

7/◉ I'll thread more in detail about remaining issues like the trust litigation, likely disclosure statement and plan objections, and how the process likely plays out. If you have any questions, please list them below. I may or may or not answer them.

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Nicholas Hall

@nicholashall

16 days

6/◉ Tax Withholding No certainty on the tax withholding issue. Read the final paragraph in whole. It raises more questions than it answers for non-US customers.

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Nicholas Hall

@nicholashall

6 months

70M #FTX claim traded at 68.5c Opening ask 68c Hot market 🔥 DM me here or telegram: @NickHall If I'm slow to respond, DM our team @foundxyz

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Nicholas Hall

@nicholashall

15 days

3/◉ Key takeaway is that FTX customers can influence the plan outcome. Follow the lead of @sunil_trades , @PatRabbitte1 , @MrPurple_DJ , @arush , and others in the coalition. Deploy the same strategies mega funds use to get better plan terms. Plenty of baseball to play.

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Nicholas Hall

@nicholashall

10 months

#Bankruptcy providers need to modernize their tech stacks. #FTX portal fails to link Scheduled to Asserted Claim making this the worst "solution" I've seen in my professional career. Customers are forced to search by date/amount to determine if claim was docketed. 🤦‍♂️

Sunil (FTX Creditor Champion)

@sunil_trades

10 months

FTX Claims Portal Update Claims have started to upload to the Kroll website (first time since the online claims portal) To check your FTX claim has been uploaded successfully 1) Go to Kroll - FTX site 2) Search Claims 3) Search for the date submitted/value of your claim

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Nicholas Hall

@nicholashall

1 year

#FTX best case reopens Q4 2024, but too many things need to go right for that to happen. More likely that it happens in 2025, if at all. Do not think creditors will wait 1-2 years before receiving distributions when they can access liquidity right now @foundxyz .

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Nicholas Hall

@nicholashall

11 months

Excited to launch our tokenized #bankruptcy claim marketplace. This is the perfect use case for smart contracts, and we look forward to applying this to future cases, as we onboard the next $30 trillion plus to DeFi through #RWAs . Want to thank our team for going the country

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Nicholas Hall

@nicholashall

8 months

FTX Retail Clawbacks: Understanding Preference Laws, Defenses, and Cross-border Complexities Navigating international legal terrain can be daunting, especially when it comes to the specifics of U.S. bankruptcy laws, such as those under Section 547, commonly referred to as

Nicholas Hall

@nicholashall

8 months

You should lawyer up if you get a #FTX preference demand, especially if you haven’t unveiled yourself to US jurisdiction. Only take advice from counsel with experience handling cross-border clawbacks. I’ll thread why later this week.

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Nicholas Hall

@nicholashall

6 months

Strong argument FTX creditors may get made more than whole: tokenize claim, farm points, borrow with your claim, go play the casino during the bull, get initial distribution from the estate, payoff your loan, and collect FTX 2.0 token and remaining estate distributions.

Mr Smith

@mrplhelp2

6 months

Can #FTXCreditors be made whole ?

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Nicholas Hall

@nicholashall

16 days

5/◉ KYC Debacle You have about 90 days to comply with pre-distribution KYC requirements or you forfeit your entire claim. This means if your KYC issues aren't resolved, you get nothing. The test for source of income is somewhat subjective, so I expect a lot of litigation

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Nicholas Hall

@nicholashall

1 year

@AlgodTrading Bankruptcy claims trading is the next meta.

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Nicholas Hall

@nicholashall

1 year

To anyone doubting #FTX 2.0, look no further than the tokenized mechanism set forth in the #Celsius term sheet for @FahrenheitHldg 's winning bid. 2.0 is always on the table. Issue token for international customers whitelisted to exchange. US customers get cash and/or shares.

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Nicholas Hall

@nicholashall

1 year

There are only 200 Smart Passes. We had over 4,000 entries. 1 in 20 chance of winning FREE Smart Pass. There are over 4,000,000 creditors with crypto bankruptcy claims. 1 in 20,000 chance creditor will be able to buy a Smart Pass. 100% chance Smart Pass holders are rewarded.

RITrading

@RIGroup_trading

1 year

@nicholashall @0888eth @foundxyz How many people didn't get one?

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Nicholas Hall

@nicholashall

5 months

FTX claim bids now at 74c on clean >1M claims DM if interested in getting best possible price

Found

@foundxyz

5 months

🚨 BREAKING: FTX BIDS HIT ALL-TIME HIGH Remember this claim, seller listed it at 70c Bidding war pushed bids over ask to 71.5c Bids now at 74c: $75,466.23 MORE 🔥 AND getting paid in USDC 👀

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Nicholas Hall

@nicholashall

1 year

100% lawyers generally do not understand crypto user behavior, the importance of decentralized business models. That said, they do not need educated for a #FTX 2.0 to materialize. Investors and/or plan sponsors are mission critical for this to work. They need to see

loomdart - Holy War Arc

@loomdart

1 year

This is honestly a good read in terms of understanding what one of the coalitions main goals (educating lawyers) is the most valuable part of the ftx estate is literally the ftx name, its what we paid billions of $ to market, thinking people won't use

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Nicholas Hall

@nicholashall

6 months

You’re getting lowballed if you’re not getting 50% or more for your #FTX claim, even if it has a face value less than $100K. You’re also missing out on farming points if you’re selling your claim off-chain to boomers. Facts.

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Nicholas Hall

@nicholashall

5 months

Do not believe the FUD. FTX Claims still in high demand at . 71c bid above 70c asking price. Unbelievable work team!

Found Onchain

Found is an Ethereum platform, enabling users to tokenize and trade their real world assets.

www.found.xyz

Found

@foundxyz

5 months

🤯🔥BREAKING: FTX Bidding War Things are getting interesting Bids are officially over ask of 70c See for yourself: Let's break this trade down 🧵👇

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Nicholas Hall

@nicholashall

4 months

Do FTX customers get 100% of their allowed claim plus equity under this proposal? If so, looks like a great deal on its face.

Mike Cagney

@mcagney

4 months

@FTXRELOADED My proposal to @FTX_Official is as follows. We combine @Figure 's broker dealer, ATS, transfer agent, money transmission licenses, MPC wallet custody, high frequency order matching and offshore VASP licenses with the FTX customer list and IP. We take the combined company

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Nicholas Hall

@nicholashall

9 months

The amount of duplicative professional services in this case are staggering. The proposals to resolve disputes are burdensome, not only in time to resolution, but also in additional fees incurred by the Estate. For example, today the #FTX UCC requested a "fluid mediation"

CoinDesk

@CoinDesk

9 months

FTX's bankruptcy team is burning through too much cash – as much as $1.5 million per day – and each dollar is "a dollar that creditors don't receive," one attorney representing creditors said during a bankruptcy hearing Wednesday. @jesseahamilton reports

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Nicholas Hall

@nicholashall

2 months

FTX claim prices continue to go up. USDC bids now greater than 93% on big claims. USDC bids have also reached parity with fiat payments.

Found

@foundxyz

2 months

🚨 FTX Claims Now 93%-98% (bid/ask) Check out this 93% USDC bid: Our best price guarantee means: ✅ Competitive bidding process ✅ No exclusivity or lockups ✅ You control the process Want the best price for your FTX claim? DM for instant quotes!

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Nicholas Hall

@nicholashall

1 year

More than 56 million millionaires in the world, many of them trapped on crypto bankruptcy exchanges, and only 200 Smart Passes. Do the math.

CZ 🔶 BNB

@cz_binance

1 year

There are more than 56 million millionaires in the world, and only 1 million people with more than 1 bitcoin. Do the math.

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Nicholas Hall

@nicholashall

13 days

LMFAO FTX claims “brokers” saying they can get the best price. 🫵🤡 Clowns in my DMs asking for bids from buyers for other peoples’ claims. Don’t trust these bozos. Cut them out and bid claims directly to buyers through @foundxyz . We have a best price guarantee.

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Nicholas Hall

@nicholashall

1 year

14/◉ To wrap up, filing a #FTX proof of claim can help you protect your rights and ensure your place in the proceedings. Remember: do not lie on the POC; it is filed under penalty of perjury! I'll thread soon about how to file a POC. Hope this helps.

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Nicholas Hall

@nicholashall

1 year

As of a minute ago, the legal process is now automated. You can trade your #FTX bankruptcy claim without having to deal with expensive intermediaries or attorneys. The future is @foundxyz onchain.

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Nicholas Hall

@nicholashall

5 months

This is what happens when you run an open, competitive bid process You lead with best prices and great customer service Congrats team and seller 🙏

Found

@foundxyz

5 months

🚨 BREAKING: NEW ATH FTX CLAIM BID 73.5c opening bid by mega fund 1 74.5c topping bid by mega fund 2 AND NOW 75c leading bid by mega fund 3 A new all-time high We are in uncharted territory How much higher can claims go?

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Nicholas Hall

@nicholashall

8 months

You should lawyer up if you get a #FTX preference demand, especially if you haven’t unveiled yourself to US jurisdiction. Only take advice from counsel with experience handling cross-border clawbacks. I’ll thread why later this week.

wassielawyer （哇西律师）

@wassielawyer

8 months

Longer thread coming later but TLDR on FTX clawbacks. Unless you are feeling particularly generous, it would not be prudent to respond to the first automated email you may get by sending them all the money they request. Not legal, financial or moral advice.

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Nicholas Hall

@nicholashall

15 days

2/◉ They're evaluating acquiring non-customer claims to control a FTX voting class. They may object to the plan, explore strategic litigation, creating leverage heading into confirmation. This potentially gets them a greater recovery and other concessions.

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Nicholas Hall

@nicholashall

11 days

This is a really good price on FTX claims. Everything must go perfectly for a fund to hit a 15% IRR. If it doesn't, either in amount distributed or time it takes to administer post-confirmation, this could be a very mediocre trade for funds.

Found

@foundxyz

11 days

Want to see something insane? How about 107.5% bid on a FTX claim 🤯 NOBODY CAN COMPETE WITH OUR PRICES 🔥 If anyone says they can, ask them to prove it and show you the bids 👀 Our BEST PRICE GUARANTEE continues to dominate FTX claims and that's not going to change 💪

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Nicholas Hall

@nicholashall

1 year

Should you file a #FTX paper Proof of Claim (Official Form 410) or use the Kroll digital portal to file electronically? Simple answer: yes, file a POC. "But I didn't ask a yes or no question?" Fair enough, it depends, but yes file a POC. 🧵👇

Nicholas Hall

@nicholashall

1 year

Should #FTX creditors file a proof of claim ("POC"), even if their bankruptcy claim is scheduled (and they received the Kroll unique ID email)? Simple answer: Yes, file a POC. Let's discuss why filing a POC is crucial, particularly for FTX international customers. 🧵👇

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Nicholas Hall

@nicholashall

4 months

Now that FTX is liquidating, can we publish customer information? That is unless secrecy regarding customer information is actually meant to keep them from organizing, filing a competing plan, and restarting the exchange.

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Nicholas Hall

@nicholashall

11 months

Bad guy who created an account with #FTX , makes FTX a bad guy under strict liability for failing to follow KYC/AML laws. FTX then takes bad guy money and does bad things with it, making FTX a bad bad guy. Bad guy then sells claim to a good guy who has no idea bad guy is a bad guy

Nicholas Hall

@nicholashall

11 months

#FTX is requiring all customers to KYC. This means that your Customer Claim may be DENIED unless the Debtors reach an agreement with the @FTX_Committee or the Court rules otherwise. Debtors claim that the KYC process is required to ensure a legitimate claims trading market.

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Nicholas Hall

@nicholashall

4 months

Stop selling through opaque platforms "trust me bro" isn't enough Check the chain anon Collect points

Found

@foundxyz

4 months

🚨 BREAKING: FTX CLAIM SETS ANOTHER ATH 20K FTX claim gets 62c USDC Extreme transparency: Instant settlement with USDC going directly into seller's wallet and claim going directly into buyer's wallet Seller also got rewarded with double points 👀 DM to sell today 🚀

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Nicholas Hall

@nicholashall

7 months

Seeing some questions concerning the potential appointment of an examiner in #FTX . This is an overview and likely impact, if it happens. (1) Role of an Examiner: An examiner in a Chapter 11 case is appointed by the court to investigate aspects of the bankruptcy. This can

Law360

@Law360

7 months

FTX's Ch. 11 case needs an independent investigation over its downfall, the U.S. Trustee's Office told the Third Circuit, and a Delaware bankruptcy judge erred in denying the trustee's request for the appointment of an examiner to conduct such an inquiry.

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Nicholas Hall

@nicholashall

1 year

The basic argument is that #FTX customers retain title to digital assets in their accounts and said assets are being held in trust by the bankruptcy estate. Ad Hoc Committee is different than official UCC. Here is a detailed summary of issues:

theta

@theta_xp

1 year

@nicholashall @DaxxTrader Are you saying that the ad hoc committee is fighting to characterise deposits as assets held in trust? And is that different from the @FTX_Committee ?

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Nicholas Hall

@nicholashall

3 months

Now easy AF to get the most USDC for your FTX claim. Go to , enter your Customer Code, find out what your claim is worth, select instant offer, and complete the process. Great work team 🙏

Found Onchain

Found is an Ethereum platform, enabling users to tokenize and trade their real world assets.

www.found.xyz

Found

@foundxyz

3 months

We launched our new site 👀 Automated everything so it's easy AF to use 💯 You now have 2 options 1⃣ instant liquidity to get paid USDC fast ⚡️ 2⃣ max price to get the most for your FTX claim 💰 Go to and tell us what you think 👇

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Nicholas Hall

@nicholashall

1 year

5/◉ By filing a proof of claim, you may help protect yourself against preference risk by establishing your position as an international customer entitled to full recovery of your property. But how?

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Nicholas Hall

@nicholashall

9 months

This is why you should tokenize your #FTX claim: fraudulent transfers are easier to execute offchain. Now the hackers can create straw entities, bank accounts (or digital wallets), and file fraudulent notice/evidence of transfers with the bankruptcy court using your PII. 🧵👇

wassielawyer （哇西律师）

@wassielawyer

9 months

No important information leaked frens! Just your name, address, email and FTX account balance. No biggie. Would like to emphasize that your logins were not leaked so you can be sure that your balances frozen on FTX are still safely frozen and used to pay professional fees.

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Nicholas Hall

@nicholashall

1 year

Getting interesting and entertaining #FTX #bankruptcy questions. Will start posting hypotheticals about ones I think help others. My DMs are open--ask away! DISCLAIMER: do not expect me to answer; we have no attorney-client relationship; and always consult your lawyer.

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Nicholas Hall

@nicholashall

1 year

Let the countdown begin:

Found

@foundxyz

1 year

🚨 FREE MINT ALERT 🚨 Smart Pass Mint Tomorrow: 4.6.2023 at 6PM UTC 24-Hour Mint Window Mint site:

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Nicholas Hall

@nicholashall

4 months

Sell your FTX claim at 60-75% and put it in the market or HODL and wait for 100% payout over 2-5 years?

CoinDesk

@CoinDesk

4 months

JUST IN: FTX sees fully repaying customers, but won't restart the defunct crypto exchange. Its $FTT token surged on the news. @Aoyon_A reports

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Nicholas Hall

@nicholashall

9 months

Looking forward to answering all things bankruptcy claim lending with @the_x2y2 in less than an hour. Bring me all of your #FTX #PrimeTrust #Celsius questions.

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Nicholas Hall

@nicholashall

2 months

This is insane. Nobody can compete with the USDC bids we're getting on big FTX claims at .

Found Onchain

Found is an Ethereum platform, enabling users to tokenize and trade their real world assets.

www.found.xyz

Found

@foundxyz

2 months

$1.4mm FTX claim just received a 95% USDC bid Check it out:

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Nicholas Hall

@nicholashall

1 year

$20+ billion in crypto bankruptcy claims will trade onchain at OpenSea, Blur, and more. Trapped FTX, Celsius, Voyager... account holders will access DeFi lending with onchain claims. Are you ready for the next NFT meta? Tune in tonight to learn about Smart Claims.

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Nicholas Hall

@nicholashall

5 months

>$5M FTX Claims at 73c Everything FTX grinding higher with bull market Larger claim fetches a premium because ✅ Savings acquiring one versus many ✅ Seller generally accountable ✅ Easier to manage Smaller claims are going up DM me if you want to test the market

Found

@foundxyz

5 months

This graph is misleading to the average #FTX claim Here is a more accurate model 60-70c for claims >1M 50-60c for claims 100k-1M 35-50c for claims 5k-100k All things equal Auctions yield highest prices Larger the claim higher the bid

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Nicholas Hall

@nicholashall

1 year

@Bfaviero 2 hours billed. Associate: Plan and prepare for conference (0.2); confer with client regarding matter (0.3); draft correspondence regarding partner direction (0.5). Partner: Client matter (1.0).

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Nicholas Hall

@nicholashall

1 year

4/◉ Now let's touch on preference exposure. In bankruptcy law, a preference refers to #FTX withdrawals between 8/12/22 and 11/11/22 (dates under Bankruptcy Rule 9006). These payments may be recaptured or subject to clawback for equitable distribution among all creditors.

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Nicholas Hall

@nicholashall

1 year

8/◉ A foreign #FTX customer generally is not subject to action by a US court. "Can't touch me. F**k the bankruptcy court!" Hold up, bruh. What about a creditor who obtained a Bahamian KYC withdrawing massive amounts of funds after the bankruptcy petition date?

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Nicholas Hall

@nicholashall

6 months

Found is the safest and most transparent way to sell your FTX claim. Really proud of the team and what we are doing to advance the tokenized RWA space. Cannot wait to formally announce our FTX claim loan product in the coming days.

Found

@foundxyz

6 months

🚨 #RWA Alert 🚨 New FTX bankruptcy claim tokenized: Seller passed: ✅ #FTX portal KYC ✅FTX Customer Claim ✅ @Plaid biometric KYC/AML verified wallet DM us/seller with questions: @s4uka86 You are now earning POINTS 🧠 Thanks for choosing Found 🙏

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Nicholas Hall

@nicholashall

1 year

@MarkChangizi At what point does one realize the water is near boiling if they have acclimated to gradually rising temperatures?

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Nicholas Hall

@nicholashall

5 months

No gimmicks, just the most open, auction-style bidding process for FTX claims at . It’s also the only crypto native solution: everything onchain, 100% transparent. DM me or @foundxyz about their Best Price Guarantee.

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Nicholas Hall

@nicholashall

1 year

@Fintech_Brennan @JohnReedStark Our tokenized RWA solution allows assets to be listed on multiple marketplaces at the same time, providing maximum market exposure. We’re also building the infrastructure that supports due diligence and automated workflow for legal. Eventually this will be entirely decentralized.

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Nicholas Hall

@nicholashall

4 months

@MrPurple_DJ Appoint an examiner already.

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Nicholas Hall

@nicholashall

1 year

If the #FTX plan gives you a choice between 100% recovery of the cash value of your #bankruptcy claim, its value in FTX 2.0 equity, or all of your customer account assets, what do you elect? No customer clawbacks. Plan is FTX 2.0 owned by creditors.

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Nicholas Hall

@nicholashall

5 months

Was told today by a big FTX claim about to sell at record high prices that they’re slow rolling the deal, waiting for BTC rip on ETF news to pump claim prices up even more Not satisfied with all-time high, they want even more Love this mindset

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Nicholas Hall

@nicholashall

16 days

@MrPurple_DJ Really anxious to see the Examiner's report. Hopefully, it's not heavily redacted. But yes, UCC and AHC should get post-confirmation control. Found it interesting that the plan states no creditor can serve on the post-confirmation administrator board.

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Nicholas Hall

@nicholashall

1 year

Really excited to help trapped crypto creditors access much needed liquidity. Do not hesitate to reach out to me to learn more.

Found

@foundxyz

1 year

1/◉ Smart Pass benefit #1 : Use your Smart Pass to onboard bankruptcy claims and earn 100% of trading fees for the next 30 days. You get rewarded for helping trapped creditors trade or borrow using their bankruptcy claim. Continue 🧵👇

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Nicholas Hall

@nicholashall

6 months

We have FTX institutional funds looking for BTC claims. Talk to as many buyers as possible to maximize the value of your claim. Ask for names of buyers if working with a platform/intermediary. BTC claims are in high demand. Make buyers compete. Do not sell low.

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Nicholas Hall

@nicholashall

1 year

2/◉ First, what is a POC? It's a document evidencing your claim against debtor's estate. It ensures the bankruptcy court and debtor acknowledge your claim, giving you a voice in the process. But what if your claim is already scheduled (and you got the Kroll email)?

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Nicholas Hall

@nicholashall

1 year

6/◉ For international accounts, the trust argument may prevail, or not, but failing to file a proof of claim might limit your ability to argue for unique treatment of your assets, if your account is misclassified. Filing a POC allows you to protect your position.

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Nicholas Hall

@nicholashall

1 year

9/◉ If that creditor files a POC for that claim (where money left in exchange exceeds any preference amount) and/or files a POC for a legit account in their name, they are consenting to US jurisdiction to hear any action against them for violating the automatic stay, and more.

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Nicholas Hall

@nicholashall

5 months

If you’re wondering why mega funds buy FTX claims at 74c It’s the hottest asset in distressed debt right now

Exec Sum

@exec_sum

5 months

2023 full-year returns for some of the largest hedge funds

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Nicholas Hall

@nicholashall

7 months

@foundxyz Discoverability is definitely a benefit of tokenized RWAs. But I really think that the ability to access loans makes tokenization the most compelling use case. Being able to access liquidity while waiting on bids to hit targets is truly the big brain move with #FTX claims.

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Nicholas Hall

@nicholashall

1 year

This is a really good claim. All of the supporting docs line up and the seller passed a biometric verification process. If you want the highest quality claims, go to to register. Congrats to our team for being the first to put claims onchain. 🫡

Found Onchain

Found is an Ethereum platform, enabling users to tokenize and trade their real world assets.

www.found.xyz

Found

@foundxyz

1 year

🚨 BREAKING 🚨 Today the world's first bankruptcy claim was listed on @opensea . We are pumped to help victims get more for their claim listing on the largest marketplaces! Best of all, continue earning rewards, even if you sell. Link to listing below 👇

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Nicholas Hall

@nicholashall

3 months

Think the funds know something we don't about the FTX plan distribution percentages Definitely looking like a 100% plus plan

Found

@foundxyz

3 months

🚨 BREAKING: HOLY S#$% FTX CLAIMS 🤯 LOOK at this 92% USDC bid minutes ago 👀 MEGA FUND just deployed BILLIONS to max bid USDC on FTX claims AND they'll bid EVEN MORE on claims > $3mm If you have a large FTX claim, you're not going to get a better price Full send🔥🚀

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Nicholas Hall

@nicholashall

1 year

3/◉ It can be dangerous to blindly rely on the debtor's representations. Even if your claim is properly scheduled, debtor may later modify your claim amount, categorization, and even remove it entirely. Filing a POC can resolve these discrepancies.

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Nicholas Hall

@nicholashall

1 year

If you have a bankruptcy claim, DM our team for access to the Smart Claim platform. Access liquidity through DeFi loans or sell to start earning rewards on secondary trades. Trade on your favorite marketplaces and exchanges.

Found

@foundxyz

1 year

We are proud to be the first trading bankruptcy claims onchain.

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Nicholas Hall

@nicholashall

1 year

@RussellOkung @CelsiusLoans @NFL Went from 275 to 175 in 6 months through 1400 kcals/day plus daily cardio to burn fat and weight training to preserve muscle. No way I could have done that fasting. What was your training routine while fasting? Did you do a before and after body composition?

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Nicholas Hall

@nicholashall

1 year

IRS files the largest claim possible that gets negotiated down substantially from there. This happens in nearly every single reorg clouded by systemic fraud. Expect 1-3% as the settled plan amount at the expense of unsecureds.

wassielawyer （哇西律师）

@wassielawyer

1 year

1/ Tweeted about this briefly but thought I'd do a more in-depth post to explain how it affects the insolvency side of things for FTX claimants in order to do @MeatTC_ 's great breakdown on how this tax bill came about justice. TLDR: Not great.

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Nicholas Hall

@nicholashall

4 months

73c on six-figure claims is unheard of You will not find a better price on FTX claims

Found

@foundxyz

4 months

🚨BREAKING: JOIN THE FTX CLAIMS POOL Daxx created a pool on our platform to get maximum pricing This is absolutely insane for a $345K FTX claim Fund 1 bid 72c Fund 2 bid 72.25c Fund 1 chose violence at 73c 🔪 DM to apply to the pool and get double points 👀

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Nicholas Hall

@nicholashall

1 year

@johnhfio @mcuban suit up in texas. trust me, the heat will change your opinion forever. they quickly become bespoke steam bags.

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Nicholas Hall

@nicholashall

1 year

Worth adding that Ad Hoc counsel has admitted publicly that their position begins to fall apart if #FTX is unable to recover all of the account assets. This is likely why litigation has been pushed out until debtor is done tracing assets.

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Nicholas Hall

@nicholashall

5 months

@SantaCl77902010 You can’t investigate yourself.

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Nicholas Hall

@nicholashall

3 months

This is a 86c + 1c bid, so really 87% on a FTX claim, and it is for the entire $10mm pool. There is no way this claim gets anywhere close to this without the other large multi-million dollar pieces trading with it. But it is still the highest price to date. Well, it was the

Found

@foundxyz

3 months

🚨 FTX CLAIM ATH This is absolutely INSANE 86% for a $10mm pool of 4 FTX claims 👀 This claim only receives ~75-80% on its own By pooling it with 3 other >1mm claims, it was able to set a new price record 🔥🔥🔥

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Nicholas Hall

@nicholashall

1 year

7/◉ But there are jurisdictional risks for filing a proof of claim. By filing a POC you are consenting to the jurisdiction of the bankruptcy court to adjudicate not only claim matters but claims the debtor may have against you.

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Nicholas Hall

@nicholashall

1 year

🚀

Found

@foundxyz

1 year

🚨 MAJOR Announcement 🚨 🧠 Introducing the SMART PASS 🧠 ◉ Found's FREE Genesis NFT ◉ To WIN: RT ☑️ LIKE 👍 REGISTER AT 📝

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Nicholas Hall

@nicholashall

1 year

The toggle plan likely takes substantially longer than the binance sale. Good news is that you can borrow on your #Voyager claim with @foundxyz while waiting for your payout. Check it out!

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Nicholas Hall

@nicholashall

11 months

@TimKennedyMMA @GarandThumb1 Ammo harder to find.

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Nicholas Hall

@nicholashall

1 year

Extremely honored to be working with such a talented team.

Found

@foundxyz

1 year

We introduced our team in the Smart Pass server. They asked that we share it with you. We are ready to help trapped creditors recover.

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Nicholas Hall

@nicholashall

1 year

Another article projecting trillions of dollars in RWAs trading onchain by end of this decade. Billions of dollars in crypto bankruptcy claims will be trading onchain this year.

The Block

@TheBlock__

1 year

Citi sees $4 trillion market potential for tokenized assets, calls it blockchain's 'killer use-case'

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Nicholas Hall

@nicholashall

1 year

Yes, if you have a bankruptcy claim and want to self-custody your claim and crypto, please DM @foundxyz . We will help you create a Smart Claim that allows you to sell it on OpenSea, Blur, and other major marketplaces, or borrow peer-to-peer. Don't get trapped again.

Found

@foundxyz

1 year

@thematticusfits @OPNX_Official Technically, we're open for helping trapped creditors access liquidity NOW. Our team is available now to help them "NFT" their claim and list it on major marketplaces and access DeFi loan products. Check us out!

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Nicholas Hall

@nicholashall

1 year

14/◉ In summary: - file a #FTX POC - likely OK waiting for portal - file paper now if stressing out - you can file amendments - make copies and get a proof of receipt - hire an attorney if you still don't know what a POC is, why it's important, or have unique circumstances

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Nicholas Hall

@nicholashall

1 year

FTX claims agent requesting "attorneys' eyes only" relief that any and all client information be sealed from the public including creditor information requested under the Freedom of Information Act. I've personally never seen this level of relief requested to protect creditors.

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Nicholas Hall

@nicholashall

1 year

Hated until needed, then you love them. Time for JR3 to earn those fees.

𝘽𝘼𝙇𝘿𝙍®

@BaldrWear

1 year

Most of this owed money to IRS is employee unpaid taxes. In fact, it shows FTX subsidiaries were doing large amounts of money but didn't pay taxes.

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Nicholas Hall

@nicholashall

1 year

10/◉ It gets better. If they lie or misrepresent on the POC, they are consenting to US jurisdiction for penalty of perjury (fined up to $500,000, imprisoned up to 5 years, or both). This creditor may want to think twice about filing a POC. Everyone else, you're probably OK.

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