Gregory's ServerTorres: "At that time when he sent out the tweet... did FTX actually have enough assets to cover their liabilities?"
Ray: "Absolutely not."
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 Gonzalez asks about the backdoor between FTX and Alameda, which SBF has denied knowing about. "In your eyes, is there any way that SBF or senior management wouldn't know about this sort of thing?" Ray: "No." Gonzalez addresses claims in SBF's testimony, where he blames FTX's collapse on Binance, and says the company would have been fine otherwise. Gonzalez: "Prior to that episode, is your belief that FTX was solvent?" Ray: "No." Gonzalez on SBF's statement: "There's some accountability, which is of course good, but then there's a lot of excuse-making and some complaining. Like, 'in fact, many of us are still missing access to our own personal data, which is being held hostage by the Chapter 11 team's leadership'. I would note that that's what happens in life when you perpetrate a massive fraud and steal billions of dollars from your customers." Rep. Tlaib (D-MI): "The idea that cryptocurrency can be a solution for financial conclusion is not only laughable, it's dangerous. These get-rich-quick kind of ads and targeting of my residents? It's predatory." |
Gonzalez (R-OH): "To your knowledge, were customer funds transferred to Alameda for the purposes of paying off called loans?"
Ray: "That's certainly possible. We need to investigate that further, but that's certainly one of the paths that we would potentially find."
#FTXhearing