1) What 2-9) H-A-P-P-E-N-E-D? We now know.

TL;DR

• Bear in mind SBF’s well-known 9 part tweet thread that requested: 1) What 2-9) H-A-P-P-E-N-E-D?

• Properly, as increasingly more proof comes out, there is a clearer story forming, and the brief reply is beneath.

• Ethical of the story: See gif ☝️

Full Story

Bear in mind SBF’s well-known 9 part tweet thread that requested:

1) What

2-9) H-A-P-P-E-N-E-D?

Properly, as increasingly more proof comes out, there is a clearer story forming, and the brief reply is:

SBF f*cked round and came upon.

Right here’re the essential story beats we have gotten to date (some confirmed, some not):

1. SBF tries to show US regulators towards Binance.

2. CZ retaliates by occurring a PR blitz, leaking Alameda’s stability sheet to CoinDesk.

3. The leak reveals how unstable Alameda is, and that a big sale of FTT tokens might destroy them.

4. CZ pronounces a big sale of FTT tokens.

5. Alameda affords to purchase them off him in a single over-the-counter sale (which implies the worth would not crash).

6. CZ refuses, primarily saying ‘I do know what you have been saying about me to US regulators – why would I aid you?’

7. Alameda goes below.

8. What few individuals knew was…Alameda had been borrowing (stealing) buyer funds from FTX.

9. Which meant as Alameda went down, it took FTX with it.

Ethical of the story:

(See gif ☝️)