Wow
CZ to step down, plead guilty to money laundering violations
Will appear in Seattle court today
Binance as a company will also plead guilty, and pay $4.3B fine
[DB] US Govt Sold 9,800 BTC on March 14, Intends to Sell a Further 41,500 BTC Connected to Silk Road in Four Batches Over the Course of the Year: Court Filing
Members of the inner circle of power at FTX formed a chat group called “Wirefraud” and were using it to send secret information about operations in the lead-up to the company’s spectacular failure.
TLDR
Saylor pretended to live in Florida for taxes but actually lived in DC.
Frequent flexing on Facebook, private jet flight logs and talking about tax evasion on podcasts got him nabbed by the feds
[DB] Voyager's exposure to 3AC consists of 15,250 BTC and $350 million USDC, 3AC has not repaid requested amounts.
Voyager: Failure to repay by June 27 will constitute an event of default
Voyager intends to pursue recovery from 3AC
Bankman-Fried’s mother audibly laughed several times when her son was referred to as a “fugitive” and his father occasionally put his fingers in his ears as if to drown out the sound of the proceedings.
Bizarre
Saylor hit a lick on Silvergate
Took out a $200m loan and ended up striking a deal to repay early for a ~25% discount leaving Silvergate with a $45m loss 🪦
Well then, I am calling it a week
It has been quite something, hope everyone is okay
Back Monday (although I may take a few days holiday midweek to recover from ~100 hours of screen time in the past 5 days, TBD)
Have a good weekend 🤝
So it was true, There was no Chinese wall and Alameda were the only ones getting filled at FTX
Anyways I am exhausted, off for the night, back tomorrow
'A few more liquidations then up only'
We've had
-Celsius
-Voyager
-3AC
-Alameda
-FTX
-BlockFi
-Genesis
-The country of Australia
How many more can there be????
[DB] In the Beginning, Our Hope Was to Be Able to Support FTX’s Customers to Provide Liquidity, but the Issues Are Beyond Our Control or Ability to Help: Binance Spokesperson
[DB] SBF Told an Investor This Week That Alameda Owes FTX About $10 Billion: WSJ Source
FTX Lent Billions of Dollars Worth of Customer Assets to Fund Risky Bets by Alameda Research: WSJ Source
TLDR
SVB depositors will have access to all of their money Monday
Signature Bank closed, all depositors will be made whole
Fed will make available additional funding to eligible depository institutions
Fed prepared to use its full range of tools to support households and…
18th largest bank in the US by total assets, 'largest bank failure since the Great Recession
wow
NEW YORK (AP) — Bank regulators seize Silicon Valley Bank in largest bank failure since the Great Recession.
Local media says Do Kwon was arrested alongside Terra's CFO attempting to board a flight to Dubai using fake Costa Rican documents
Also found with fake Belgium documents, 3 laptops and 5 phones