fun fact, when Sam moved to the Bahamas I bought him a BMW to drive around in and he made me sell it and get him a Corolla. Real leaders in crypto made different.
My first /thread. For over 2.5 years now FTX has been seeking proper global banking. The amount of effort that has gone into this is beyond what most people outside crypto could imagine.
take note of the people you offer something to for free but they insist on paying fair for, those are the people you want in your life and your real partners
Having an absolute blast watching the renderings and progress on FTX Campus design here in the Bahamas. Excited to break ground here shortly and bring this to life!
im suprised other industries haven't adopted the crypto customer support model, i'd love to jump in an amazon telegram group and berate their staff every time my product arrives a day late and threaten to go to walmart instead
Time and again VCs and consultants told us we needed to hire faster, grow more quickly, and increase headcount. Through all of the pressure to do that
@SBF
argued that more headcount was unlikely to increase productivity and output.
Sucks that if I had just sold off my pile of crypto like I was going to instead of listening to multiple lawyers and borrowing from Alameda against it instead, I likely wouldn't be going to prison for seven and half years.
FTX from day one has sought to be completely compliant and still corespondent banks hold the world hostage. Kudos to deltec / silvergate / signature / prime trust / and others for doing their part when it wasn’t so easy. Crypto will win on this merit alone.
been an absolute pleasure watching
@cz_binance
have the extremely difficult but transformative debates on twitter this past week to ensure the crypto industry moves forward in the best possible way
Crypto Bahamas is sold out! Not a little sold out. Not kind of sold out. Completely sold out! Sincere apologies to everyone who can’t attend this yes, we’ll be taking over the entire Bahamar next year with how well this is going to go!
#FTX
#SALT
It’s so powerful learning who your friends are! Very excited to grow with them in the long term. It’s not hard to genuinely figure out who cares about customers and who doesn’t if you look past the insanity
Beautiful last few weeks in the Bahamas meeting with organizations FTX is supporting and giving back to students and teachers throughout the entire country!
#FTX
Even with an enhanced focus on regulation and compliance the… horrific… network and companies that has been established that runs our global monetary transfer system is so outdated it feels like a practice joke.
Explaining the real basics to someone brand new to crypto how the blockchain works right now and I’m just as excited as I was the first time I discovered bitcoin. It’s just so fucking cool.
Dear Mr. Price, er,
@rajgokal
,
Given your age, you may be getting forgetful. A little help for your updated Twitter bio: Recall you founded Price Club, which then MERGED with Costco, founded by your mentee, Jim Sinegal. I apologize for calling the crypto third rate. 1/(of course)
Doing what we can to get ERC20's out. $100 gas per withdrawal. Blockchain pretty slow.
But we'll keep processing them! May need to gate the free withdrawals for it though.
@SantiagoAuFund
I've been minting/redeeming USDT on an institutional scale for over 3 years with multiple desks! While admittedly I've done far more mints than redemptions, below you'll find all USDT redeemed in my current role. Note the process has always been smooth.
Yah terrible tweet, like the worst. I get it, I've cringed reading it nearly every day since I found out half of ftx customers money was somehow missing.
It’s so powerful learning who your friends are! Very excited to grow with them in the long term. It’s not hard to genuinely figure out who cares about customers and who doesn’t if you look past the insanity
peoples ability to be extremely confident in their feelings about something they actually know nothing about never ceases to impress me. like im not confident i know how to pronounce my last name and its my own name.
.
@SBF_FTX
and I are excited to hire
@vkrussell
as VP of Communications and CSR for FDM (FTX: Bahamas). Valdez has been integral to our efforts in the Bahamas to grow our team and presence and give back to the country in a meaningful way.
@FTX
is incredibly well positioned in the current environment and is continuing to both not have a hiring freeze and not sacrifice our culture. In the end this helps the users who are ultimately who we are here for.
Huge difference between what happened to UST and what happened to USDT (disingenuous to compare them) however the dialogue on stablecoins in the clip by
@michellebond111
@SBF_FTX
and
@Brett_FTXUS
is excellent!
Following a massive crypto selloff, popular stablecoins like Tether and TerraUSD lost their dollar peg.
Here's what you need to know about stablecoins👇
Excited to be personally doing my part to ensure the digital asset environment in the US gets the attention and development it deserves in DC. Can donate here:
Our soon to be neighbors
@quantfury
stopped by for a visit to the new FDM office! Another incredible company in the crypto space building out a large presence in the Bahamas.
Advice for the day: if you have any ranking at a company (especially startup), do not speak to lawyers verbally and expect their answers to matter. Get every question, concern, comment - everything - in writing and store the records in a personal file outside of the company
The 55m loan everyone keeps citing, I had no idea about it until after ftx collapsed. Not a dollar ever touched my account and the receiver had no clue I didn't know about it. Fun thing to learn while my whole world was imploding.
being able to work with people you don't like is part of being good at a job. unless someone is net negative value to the company, figuring out how to make it work is (almost) always your responsibility
Big shout out to
@ChobanianMike
during the Senate Banking hearing talking about the benefits digital assets are having to places like
@Ukraine
and the lack of evidence around criminal activity in comparison. Tuning in live from Ukraine nonetheless.
I’ll go one step further. Next time you’re mad at
@binance
or
@coinbase
or
@FTX_Official
for banking issues and delays I’ll bet you it’s not their fault. I’ll bet they want to credit your funds equally as fast as you want them/us to
My first /thread. For over 2.5 years now FTX has been seeking proper global banking. The amount of effort that has gone into this is beyond what most people outside crypto could imagine.
Remember to let your new staff know that in down markets most clients they work with about to get meaner and blame them for everything. It helps to hear it while they’re grinding through it.
During the past year I dedicated a significant amount of my time to writing a complete memoir of my time at ftx and alameda. I'll be keeping 0$ of the proceeds once it hits print. Waiting on publishers at this point but hope to get it done and out asap.
Its amazing how no crypto people reach out for discounted tickets to
@CryptoBahamas
but everyone at these massive tradfi firms who traded crypto like once get upset they can't get free tickets
Sam Bankman-Fried’s alias,
@SBF_FTX
, is nothing like the stereotypical “crypto bros.” Still, he is now the de facto leader of the crypto community.
🧐 So who exactly is he?
@Fortune500
🧵