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No Second Chance! Dogecoin Creator Blasts SBF Comeback Attempts

SBF is being relentlessly mocked on Twitter following the FTX crash. Billy Markus felt compelled to hit out at the former FTX CEO’s recent attempts at a...
No Second Chance! Dogecoin Creator Blasts SBF Comeback Attempts No Second Chance! Dogecoin Creator Blasts SBF Comeback Attempts
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  • SBF is being relentlessly mocked on Twitter following the FTX crash.
  • Billy Markus felt compelled to hit out at the former FTX CEO’s recent attempts at a comeback.
  • SBF should not be given a second chance due to his role in the FTX disaster, said Billy Markus.
Sam Bankman-Fried, known as “SBF,” the former CEO of FTX, is being relentlessly mocked on Twitter as the death toll from the FTX bloodbath rises ever higher this crypto winter. Dogecoin (DOGE) creator and outspoken critic of the market wrecking FTX crash, Billy Markus, felt compelled to poke fun at SBF’s latest attempts at a comeback.

SBF took to Twitter on Wednesday to declare his plans to “raise liquidity, make consumers whole, and restart” following the exchange’s ‘Chapter 11’ bankruptcy filing on Friday, November 11th. But Billy Markus, better known on Twitter as Shibetoshi Nakamoto, was having none of it, insisting that SBF should not be given a second chance due to his role in the FTX disaster.

SBF Recovery Plan

The former CEO of FTX maintains that his firms had monthly asset accumulations in excess of their liability accumulations, despite widespread reports that FTX hid a $10 billion black hole in its books. On the other hand, SBF made it clear that these were not marketable securities.

As reported by DailyCoin, SBF revealed in a series of tweets that FTX had $8 billion in liquid assets, $5.5 billion in semi-liquid assets, and $3.5 billion in illiquid assets. The crypto billionaire went on to say that Alameda has a margin position on FTX International and FTX US, and that it has the resources to reimburse all users.

But Dogecoin’s creator is adamantly against it, since he thinks “people who commit enormous massive fraud” shouldn’t be allowed “a second chance to commit enormous massive fraud again.”

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On the Flipside

  • The crypto community has begun cross-checking cold storage money and requesting clarifications for strange on-chain movements to avoid an FTX-like catastrophe.
  • The community recently questioned Crypto.com’s intention to transfer 320,000 ETH from an internal cold wallet to Gate.io. But Crypto.com CEO Kris Marszalek said that the money was sent by mistake to an address on Gate.io that Crypto.com owned, which was on the whitelist.

Why You Should Care

From a bird’s-eye view, it’s clear that SBF is to blame for the company’s recent downfall. The cryptocurrency trading platform allegedly utilized customer cash to finance business operations, including mergers, acquisitions, loans, etc. Because of this, the top centralized crypto exchanges have declared that they will use a Merkle Tree Proof of Reserve system to make sure that user funds in reserves are completely transparent.

Read more on FTX and SBF’s fallen crypto empire:

FTX Hacker Hoarding Ethereum (ETH) for Possible Market Selloff

FTX Has Enough Funds to Compensate Customers – Sam Bankman-Fried Wants to Restart the Exchange

See original on DailyCoin

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

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Sell (12)

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Sell (3)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (3)

GBP/USD

1.2475

-0.0015 (-0.12%)

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USD/JPY

157.91

+0.12 (+0.07%)

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↑ Buy

Moving Avg:

Buy (12)

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Buy (9)

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AUD/USD

0.6469

-0.0003 (-0.05%)

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Neutral

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

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Silver Futures

26.677

+0.023 (+0.09%)

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Copper Futures

4.5305

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Crude Oil WTI Futures

81.14

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Brent Oil Futures

85.62

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Natural Gas Futures

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US Coffee C Futures

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Euro Stoxx 50

4,920.55

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S&P 500

5,035.69

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DAX

17,921.95

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FTSE 100

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17,763.03

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US Small Cap 2000

1,973.05

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IBEX 35

10,854.40

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BASF SE NA O.N.

49.155

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Bayer AG NA

27.35

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Allianz SE VNA O.N.

266.60

+0.30 (+0.11%)

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Adidas AG

226.40

-5.90 (-2.54%)

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Deutsche Lufthansa AG

6.714

-0.028 (-0.42%)

Summary

Neutral

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Siemens AG Class N

175.90

-1.74 (-0.98%)

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Deutsche Bank AG

15.010

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Summary

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Moving Avg:

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Sell (2)

    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
(0/ 0) # 1,510
SJC 1c, 2c, 5c7,380/ 7,550
(0/ 0) # 540
SJC 0,5c7,380/ 7,560
(0/ 0) # 550
SJC 99,99%7,370/ 7,470
(0/ 0) # 460
SJC 99%7,196/ 7,396
(0/ 0) # 386
Cập nhật 01-05-2024 10:45:19
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$2,285.72 -47.5 -2.04%
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Dầu hỏa 2-K20.68021.090
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GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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