Dogecoin (DOGE) creator and outspoken critic of the FTX market wrecking crash, Billy Markus, has blasted the former FTX CEO’s recovery plans.
Billy Markus lashes out at SBF
On the wake of the 16th of November 2022, Billy Markus, better known as Shibetoshi Nakamoto, 3 hours after SBF’s 15th thread tweet on an explanation of the FTX crash and his proposed solution, took to Twitter to lash out at the former Chief Executive of FTX. As expected, most Twitter users agreed with Billy that Bankman-Fried has nefarious motives with his comeback attempts.
“Yeah, so, I don’t know about you guys, but I don’t think we should give people who commit enormous, massive fraud a second chance to commit enormous, massive fraud again.
The jig is up. Everyone knows what you really are.
You lose. Good day, sir.”His tweet stated.
SBF’s ‘truth and beauty’ thread.
As the eve of FTX public spoil stodgy lengthens, Sam Bankman-Fried, a.k.a SBF, took to Twitter in a long thread to announce his plans to make an FTX come back.
Despite the widespread reports that FTX hid a $10 billion black hole in its books, SBF maintains that his firms had monthly asset accumulations above their liability accumulations. However, he made it clear that these were not marketable securities.
SBF revealed in this thread that FTX had $8 billion in liquid assets, $5.5 billion in semi-liquid assets, and $3.5 billion in illiquid assets. The former Chief Executive Officer said that Alameda has a margin position on FTX International and FTX US and has the resources to refund all users.
He ended this long thread with an apology and a promise:
“We’ll keep sharing updates as we have them.”
This “solution” and its proponent have gotten innumerable backlash from Twitter users who mocked SBF for his insufferable excuses and unrealistic “way out.”
“We just want our money back!”
Unsurprisingly, SBF tweets were not met with favorable responses. Most cried out about the need the get their money back. While the others, like Billy Markus, mocked and scorned SBF’s attempt.
A Twitter user commented.:
“I, too, would like to raise 10 billion dollars in order to pay off anyone who had money on FTX. Is there anyone out there who can help me get that 10 billion?”
Another user commented:
“Only thing you can do for customers is to reopen withdrawals with 10k limit per day per account, so small investor can exit.”
Other people made memes out of the SBF thread. One Twitter user even commented sarcastically:
“Launch a meme coin.”