Today’s letter is brought to you by Consensus 2024! Consensus 2024 is happening May 29-31 in Austin, Texas. This year marks the tenth annual Consensus, making it the largest and longest-running event dedicated to all sides of crypto, blockchain and Web3.
"Bankman-Fried contributed more than $70 million to election campaigns in less than 18 months, placing him among the nation’s top political donors. He personally gave at least $40 million to politicians and political action committees ahead of the 2022 midterm elections, mostly to Democrats and liberal-leaning groups, making him the second overall top donor to Democrats, only behind George Soros, according to the Center for Responsive Politics." 🤔
I wonder if signing a document offered in the Blockfi bankruptcy claims that indicated I wanted the original asset returned (on loans) will make a difference. Will I get back the crypto assets that were the guarantees to the loans?
Truth is I also got excited but your headline quenched my excitement this morning. I believe a more accurate headline would be: "FTX Bankruptcy Reveals Complexities: Users Likely to Receive Less Than Expected Due to Cryptocurrency Price Fluctuations."
>The fact that crypto assets are involved here has thrown a curveball to the courts. They have never seen financial assets appreciate hundreds of percent in a year, which drastically changes the calculation of the true value of a creditors’ claim.
> I don’t know what the right answer is for future bankruptcy cases. That is for people much smarter than me to figure out. But I do know that the headlines boasting that FTX users are going to be paid back 100% of their money are misleading.
Who keeps the excess cash, the crooks??
Liberals are using this narrative so Biden can pardon SBF. SMH
"Bankman-Fried contributed more than $70 million to election campaigns in less than 18 months, placing him among the nation’s top political donors. He personally gave at least $40 million to politicians and political action committees ahead of the 2022 midterm elections, mostly to Democrats and liberal-leaning groups, making him the second overall top donor to Democrats, only behind George Soros, according to the Center for Responsive Politics." 🤔
https://time.com/6241262/sam-bankman-fried-political-donations/
I wonder if signing a document offered in the Blockfi bankruptcy claims that indicated I wanted the original asset returned (on loans) will make a difference. Will I get back the crypto assets that were the guarantees to the loans?
Truth is I also got excited but your headline quenched my excitement this morning. I believe a more accurate headline would be: "FTX Bankruptcy Reveals Complexities: Users Likely to Receive Less Than Expected Due to Cryptocurrency Price Fluctuations."
Holy smokes.
>The fact that crypto assets are involved here has thrown a curveball to the courts. They have never seen financial assets appreciate hundreds of percent in a year, which drastically changes the calculation of the true value of a creditors’ claim.
> I don’t know what the right answer is for future bankruptcy cases. That is for people much smarter than me to figure out. But I do know that the headlines boasting that FTX users are going to be paid back 100% of their money are misleading.
👆
This backup account is fakeoooo, please how did substack allow this person here