In his last tweet, Sam Bankman-Fried denied the existence of the secret conversation named “Wirefraud”, gathering FTX executives. Meanwhile, Maxine Waters, the US House Committee Chair, commented on SBF’s arrest, which jeopardizes the hearing that was scheduled for today.
Wirefraud, the alleged confidential chat of FTX executives
Our colleagues from the Australian Financial Review (AFR) have published an article in which they explain that Sam Bankman-Fried (SBF) and several senior executives from FTX and Alameda Research allegedly exchanged on a secret Signal group called Wirefraud to exchange confidential information.
This group would have notably brought together SBF, with the co-founders of FTX Zixiao Wang and Nishad Singh, as well as Caroline Ellison, who led Alameda Research. The information concerning this hypothetical group remains however rather elusive, except that it would have been active before the collapse of the exchange, to discuss current operations.
Note, however, the reaction of SBF to the news, in a last tweet published before his arrest. Without firmly denying the existence of such a group, he explains that if this rumor is true, “he was not part of this circle of initiates“. It also indicates that he thinks it’s all fake :
If this is true then I wasn’t a member of that inner circle
(I’m quite sure it’s just false; I have never heard of such a group)
— SBF (@SBF_FTX) December 12, 2022
It should also be noted that “Wirefraud” translates to “electronic fraud”, which, assuming the facts were proven, would be a questionable choice of name.
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Hearing canceled following arrest
Concerning Sam Bankman-Fried only, remember that the latter had to be heard today by the United States House Committee. The person concerned had also finally confirmed his participation to Maxine Waters, the president, after having speculated that he could not come.
SBF will have all in all been right in his first response, given that his arrest compromises, in fact, his hearing.
Maxine Waters also spoke on the subject last night, while the participation of SBF and its lawyers had been confirmed :
“I am surprised to learn that Sam Bankman-Fried was arrested in the Bahamas at the direction of the United States Attorney for the Southern District of New York. It is time for the process to bring Mr. Bankman-Fried to justice to begin. »
If she shows updisappointed» of not being able to hear SBF, she nevertheless affirms the «determination» of the Committee to «shed light on what happened“.
Now that the founder of FTX is behind barsthe coming weeks should be rich in answers on this affair which will have a lasting impact on the ecosystem.
👉 Also in the news – “Stop trying to depeg stablecoins” – Lunar private exchanges between Sam Bankman-Fried and Changpeng Zhao?
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Sources: Australian Financial Review, US House Committee on Financial Services
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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