Last week right after he pleaded not guilty, he filed an objection in the FTX bankruptcy case arguing that the Robinhood shares he purchased with money borrowed from Alameda are his personal assets. Of course as we know Alameda was "borrowing" from FTX (without FTX telling customers).
If one accepts that Alameda's cash was comprised in part of FTX's cash then it appears SBF wants to pay for his legal defense with shares he and Zixiao Wang bought using money from FTX customer deposits.
What are the chances he changes his plea between now and October. Eventually he will have to apologise. Maybe he'll do so from prison when he is finally denied 24/7 internet access.
>Last week right after he pleaded not guilty, he filed an objection in the FTX bankruptcy case arguing that the Robinhood shares he purchased with money borrowed from Alameda are his personal assets.
I don't know if you were referring to the following part of the article, but, in case others are missing the context:
>>Nearly all of my assets were and still are utilizable to backstop FTX customers. I have, for instance, offered to contribute nearly all of my personal shares in Robinhood to customers–or 100%, if the Chapter 11 team would honor my D&O legal expense indemnification.
So here he's claiming that he wanted the Robinhood shares to be available to FTX creditors, even as he's previously made a motion to claim them as his own.
> So here he's claiming that he wanted the Robinhood shares to be available to FTX creditors, even as he's previously made a motion to claim them as his own.
And his claim to the bankruptcy court was that he needed them to pay for his criminal defense, not to have them available to voluntarily backstop FTX US liabilities. (Also, the idea that the proceeds of the property acquired through the dubious backdoor self-dealing FTX international -> Alameda -> SBF loan should go to backstop FTX US customers is... interesting.)
Last week right after he pleaded not guilty, he filed an objection in the FTX bankruptcy case arguing that the Robinhood shares he purchased with money borrowed from Alameda are his personal assets. Of course as we know Alameda was "borrowing" from FTX (without FTX telling customers).
If one accepts that Alameda's cash was comprised in part of FTX's cash then it appears SBF wants to pay for his legal defense with shares he and Zixiao Wang bought using money from FTX customer deposits.
https://ia601406.us.archive.org/2/items/gov.uscourts.deb.188...
What are the chances he changes his plea between now and October. Eventually he will have to apologise. Maybe he'll do so from prison when he is finally denied 24/7 internet access.