Former BitMEX CEO Arthur Hayes has taken to Twitter to specific his ideas on the current situation with FTX following the newest try by Sam Bankman-Fried, the trade’s disgraced founder, to avoid wasting his face.
Within the thread, Hayes means that the main target must be shifted away from Alameda Analysis and their hedging methods again to FTX’s personal danger administration and why some shoppers had been handled otherwise than others.
“Inform us why you thought it was a good suggestion to present your hedge fund an account with the liquidation function turned off?” Hayes went on to ask Bakman-Fried the pointed query.
He believes that if FTX had liquidated Alameda simply as they’ve executed with different prospects up to now, FTX would nonetheless be functioning correctly.
Hayes ended the thread by calling out FTX’s lack of transparency concerning their very own practices and operations. He calls for solutions to the questions. “Why had been some shoppers handled otherwise than others” and “how did FTX strategy danger administration on the FTX stage?”
In a shock transfer, the disgraced crypto mogul not too long ago introduced the launch of his personal Substack e-newsletter regardless of the pending felony trial towards him. In a put up titled “FTX Pre-Mortem Overview,” Bankman-Fried professed his innocence following the collapse of FTX, an trade big that achieved a valuation of practically $32 billion solely two years in the past.
Bankman-Fried hopes to show that he was wrongly pressured into chapter 11 and believes he can repay all prospects, denying accusations of fraud.