Monday, September 25, 2023

‘What. H.A.P.P.E.N….’ — Sam Bankman-Fried’s latest slow roll of tweets spark scorn as well as concern

Must read

Bombshell, mutiny, mild recession: Catch up with Inman’s Top 5

No one can predict the future, but you can prepare. Find out what to prepare for and pick...

CrossCountry Mortgage CEO nails profit on $30M Fort Lauderdale pad

Ronald Leonhardt Jr. purchased the Harbor Beach home for $23 million in 2021. It includes 120 feet of water frontage, a lap...

How this social media innovator leads with authenticity

In September, Inman digs deep on real estate teams — what it takes to join or build one, how to optimize a team...

Stop the bombshell lawsuit panic. Ask your broker about commission

You don’t have to figure out everything on your own when it comes to buyer commissions and the bombshell lawsuits, writes broker...

The latest message from former FTX chief executive Sam Bankman-Fried left onlookers puzzled and alarmed after the swift decline into bankruptcy for the cryptocurrency exchange he founded.

In successive tweets, Bankman-Fried’s twitter account merely stated, “What,” followed by capital letters H.A.P.P.E.N., unfurled slowly over the span of about 19 hours.

Bankman-Fried has been an active tweeter throughout FTX’s demise, earlier having written that he was “shocked to see things unravel the way they did.”

Twitter and Tesla TSLA, -2.56% CEO Elon Musk, who’s also having some difficulties, tweeted with fire emojis to an attempt at a translation of the cryptic tweet.

Musk also tweeted his amusement at the claim that Bankman-Fried played a “League of Legends” game — the same game the executive infamously was playing when the venture-capital firm Sequoia invested in FTX. Court filings from Musk’s failed attempt to get out of his Twitter purchase show that he doubted that Bankman-Fried ever had $3 billion liquid to co-invest in Twitter.

While the broader social-media sentiment was a wish for Bankman-Fried to be jailed, there also was concern for his health.

FTX has filed for Chapter 11 bankruptcy protection, and over the weekend there also seems to have been a hack of customer funds. The securities regulator in FTX’s headquarters of the Bahamas meanwhile said it had not requested the prioritization for withdrawals of funds for Bahamian clients.

Reuters reported the allegation Bankman-Fried had a “back door” that allowed him to mask the transfer of customer funds to his Alameda hedge fund, which Bankman-Fried told the news agency was just “confusing internal labeling.”

The former FTX CEO couldn’t be reached for comment.

More articles

Latest article

Bombshell, mutiny, mild recession: Catch up with Inman’s Top 5

No one can predict the future, but you can prepare. Find out what to prepare for and pick...

CrossCountry Mortgage CEO nails profit on $30M Fort Lauderdale pad

Ronald Leonhardt Jr. purchased the Harbor Beach home for $23 million in 2021. It includes 120 feet of water frontage, a lap...

How this social media innovator leads with authenticity

In September, Inman digs deep on real estate teams — what it takes to join or build one, how to optimize a team...

Stop the bombshell lawsuit panic. Ask your broker about commission

You don’t have to figure out everything on your own when it comes to buyer commissions and the bombshell lawsuits, writes broker...

Local broker marketplaces: Insights from a Romanian Realtor

In these times, double down — on your skills, on your knowledge, on you. Join us Aug. 8-10 at Inman Connect Las Vegas...