spreadsheet

‘Oops’: What FTX staff wrote on spreadsheet showing $20billion in losses as co-founder Gary Wang testifies at Sam Bankman-Fried trial the company had been stealing its customers’ money for three years before it collapsed

FTX staff wrote ‘oops’ on a spreadsheet which showed it owed $20billion five months before it collapsed. A court in New York heard that Sam Bankman-Fried, the boss of the failed crypto exchange, ordered his staff to prepare the document in July 2022 as investors demanded their money back. Crypto prices had tumbled and the …

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Binance allegedly liquidating customer assets to prop up BNB. Their defense is that they “burn” some of their infinite BNB supply which is worth “so much more than their customer assets”. Anyone can burn trillions of spreadsheet coins. Just like FTT, its worthless.

by FearlessEggplant3036 If they sell any of it at $200 the price will crash to $0, so they do monthly burns eg. if they burn: 1 billion coins x $200 = 200 Billion dollars burned, so why would a company “that doesn’t care about hundreds of billions” scam/embezzle a few billion dollars worth of customer …

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