Arthur Hayes, the previous CEO of the controversial BitMEX alternate, has some questions he wants answered
Former BitMEX CEO Arthur Hayes has taken to Twitter to express his thoughts on the current concern with FTX following the latest try by Sam Bankman-Fried, the alternate’s disgraced founder, to avoid wasting his face.
Within the thread, Hayes means that the main focus must be shifted away from Alameda Analysis and their hedging methods again to FTX’s personal danger administration and why some purchasers had been handled otherwise than others.
“Inform us why you thought it was a good suggestion to present your hedge fund an account with the liquidation characteristic turned off?” Hayes went on to ask Bakman-Fried the pointed query.
He believes that if FTX had liquidated Alameda simply as they’ve accomplished with different prospects prior to now, FTX would nonetheless be functioning correctly.
Hayes ended the thread by calling out FTX’s lack of transparency relating to their very own practices and operations. He calls for solutions to the questions. “Why had been some purchasers handled otherwise than others” and “how did FTX strategy danger administration on the FTX stage?”
In a shock transfer, the disgraced crypto mogul not too long ago introduced the launch of his personal Substack e-newsletter regardless of the pending legal trial in opposition to him. In a put up titled “FTX Pre-Mortem Overview,” Bankman-Fried professed his innocence following the collapse of FTX, an trade large that achieved a valuation of practically $32 billion solely two years in the past.
Bankman-Fried hopes to show that he was wrongly pressured out of business and believes he can repay all prospects, denying accusations of fraud.