Man #13 on the CFTC complaint is so pernicious. I remember when they "bailed out" Blockfi with the $400m revolver that was subordinate to client funds and the option to purchase in the future. Its wild to now know all that was done to get Blockfi's client's funds onto FTX to try to plug a hole, just a vampire attack on Blockfi's balance sheet. Great write up!
Nicely done 👏🏻👏🏻
Man #13 on the CFTC complaint is so pernicious. I remember when they "bailed out" Blockfi with the $400m revolver that was subordinate to client funds and the option to purchase in the future. Its wild to now know all that was done to get Blockfi's client's funds onto FTX to try to plug a hole, just a vampire attack on Blockfi's balance sheet. Great write up!