{"id":8934,"date":"2022-12-03T11:36:46","date_gmt":"2022-12-03T11:36:46","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=8934"},"modified":"2022-12-03T11:36:47","modified_gmt":"2022-12-03T11:36:47","slug":"sbf-had-detailed-info-on-alamedas-finances-as-recently-as-march-forbes-reveals","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=8934","title":{"rendered":"SBF had detailed info on Alameda\u2019s finances as recently as March, Forbes reveals"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n   <\/p>\n<p>In contrast to Sam Bankman Fried\u2019s recent claims that he wasn\u2019t aware of Alameda\u2019s position, Forbes recently released its communication with SBF when drafting their billionaires\u2019 list, indicating that he was well versed in Alameda\u2019s finances.<\/p>\n<p>During his recent interview with the New York Times, the ex-CEO said Alameda made risky investments on the FTX platform because it had too much leverage and that he did not understand what the company was doing.<\/p>\n<p><i>\u201cIt\u2019s not a company I run. It\u2019s not a company I have run for the last couple of years. And Alameda\u2019s finances I was not deeply aware of. I was only surface-level aware of Alameda\u2019s finances,\u201d SBF stated during the interview.<\/i><\/p>\n<p>Amid these developments, interestingly, a few billionaires came to Bankman-Fried\u2019s defense.<\/p>\n<p lang=\"en\" dir=\"ltr\">Call me crazy, but I think @sbf is telling the truth.<\/p>\n<p>\u2014 Bill Ackman (@BillAckman) November 30, 2022<\/p>\n<p>Along with Bill Ackman, FTX investor O\u2019Leary, also a spokesperson for the exchange, expressed his support for Bankman-Fried.\u00a0<\/p>\n<p lang=\"en\" dir=\"ltr\">I lost millions as an investor in @FTX and got sandblasted as a paid spokesperson for the firm but after listening to that interview I\u2019m in the @billAckman camp about the kid! https:\/\/t.co\/5lWzTT7JEv<\/p>\n<p>\u2014 Kevin O&#8217;Leary aka Mr. Wonderful (@kevinolearytv) December 1, 2022<\/p>\n<h2>Forbes\u2019 recent revelations about SBF tell a different story<\/h2>\n<p>Bankman-Fried sent Forbes documents showing his ownership stakes in Alameda (90%) and FTX (about 50%) and screenshots of wallets holding cryptocurrencies in January 2021.\u00a0<\/p>\n<p lang=\"en\" dir=\"ltr\">SBF says he was &#8220;not deeply aware of&#8221; Alameda&#8217;s finances<\/p>\n<p>Forbes says he sent them details of Alameda&#8217;s holdings as recently as Augusthttps:\/\/t.co\/SVR3XJuvc5 pic.twitter.com\/PHek7Tx7qv<\/p>\n<p>\u2014 db (@tier10k) December 2, 2022<\/p>\n<p>According to the revelations, he sent a Google Sheet listing his assets, including FTX equity, 67.8 million Solana tokens, 193.2 million FTT tokens, and 3 billion Serum tokens.<\/p>\n<\/p>\n<p>Following that, Forbes also caught periodic modifications to the Google sheet when calculating the annual World\u2019s Billionaires list.<\/p>\n<p>As crypto prices rose, Alameda increased its share of FTT tokens to 195.8 million. As a result, the \u201cAlameda funds under management, approx.\u201d row read $37,605,602,157.\u00a0<\/p>\n<p><i>\u201cA separate column, listing only tokens that were unlocked\u2013meaning able to be transacted\u2013pegs Alameda\u2019s total funds at a more modest $14.7 billion. Updates like this arrived periodically\u2013practically whenever Forbes asked for them,\u201d Forbes stated<\/i><\/p>\n<p>The Google Sheet was then modified in September 2021 to include an updated tab, \u201cAlameda\u2019s funds under management,\u201d which had grown to $37.6 billion, $16.8 billion, counting only unlocked tokens.\u00a0<\/p>\n<p>It was in March 2022 that Bankman-Fried updated the spreadsheet again with additional details about Alameda\u2019s ownership share. FTT holdings were down to 176 million tokens; Solana was down to 53 million.\u00a0<\/p>\n<p>SBF again guided Forbes through his net worth two months before FTX collapsed, providing a table of FTX and FTX U.S.\u2019 largest shareholders. On a new tab in the spreadsheet, Alameda\u2019s holdings were also shown, with 53 million, 3 billion, and 176 million shares of Solana, Serum, and FTT, respectively.\u00a0<\/p>\n<p>At the time, Bankman-Fried\u2019s management share of Alameda\u2019s funds totaled $8.6 billion, or $6.4 billion, counting only unlocked tokens.\u00a0<\/p>\n<p>Some Twitter users have taken shots at the former CEO of FTX following the recent revelations:<\/p>\n<p lang=\"en\" dir=\"ltr\">Helping Forbes develop picture of net worth is a huge red flag. Most billionaires want to keep their wealth as stealthy as possible.<\/p>\n<p>\u2014 Ben Davenport (@bendavenport) December 2, 2022<\/p>\n<p>Forbes stated.<\/p>\n<p><i>\u201cThe level of detail Bankman-Fried provided to Forbes over the years shows that he had detailed knowledge of some of Alameda\u2019s holdings and at least some knowledge of the transactions it was making, especially in 2021, despite stepping back from running the hedge fund after cofounding FTX in 2019.\u201d\u00a0<\/i><\/p>\n<h3>Read Our Latest Market Report<\/h3>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/sbf-had-detailed-info-on-alamedas-finances-as-recently-as-march-forbes-reveals\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In contrast to Sam Bankman Fried\u2019s recent claims that he wasn\u2019t aware of Alameda\u2019s position, Forbes recently released its communication with SBF when drafting their billionaires\u2019 list, indicating that he was well versed in Alameda\u2019s finances. During his recent interview with the New York Times, the ex-CEO said Alameda made risky investments on the FTX [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-8934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8934"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8934\/revisions"}],"predecessor-version":[{"id":8936,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8934\/revisions\/8936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/8935"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}