Isn't the bigger issue with the parent's argument that its comparing apples and oranges?
Like the customers were largely owed _not_ USD and so compared the USD value owed _4 years ago_ to the _current day_ USD value of something else that wasn't owed is just not correct.
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To do some of the math, assuming all the funds owed were bitcoin then 9 Billion / $17,000 ~= 47 thousand BTC owed.
At current $64k/BTC prices that's roughly $30 Billion. Which while still lower than $75B is much higher than just $9B and doesn't excuse SBF from fraudulently and very publicly claiming that all the money invested as backed 1:1 when it wasn't.
I also don't know how much more FTX's stake would be diluted as well and another commentator talked about nearly half so then it might not cover the "actual" owed value.
Comments
Isn't the bigger issue with the parent's argument that its comparing apples and oranges?
Like the customers were largely owed _not_ USD and so compared the USD value owed _4 years ago_ to the _current day_ USD value of something else that wasn't owed is just not correct.
---
To do some of the math, assuming all the funds owed were bitcoin then 9 Billion / $17,000 ~= 47 thousand BTC owed.
At current $64k/BTC prices that's roughly $30 Billion. Which while still lower than $75B is much higher than just $9B and doesn't excuse SBF from fraudulently and very publicly claiming that all the money invested as backed 1:1 when it wasn't.
I also don't know how much more FTX's stake would be diluted as well and another commentator talked about nearly half so then it might not cover the "actual" owed value.