They have SBF’s own idiot mouth as evidence when he claimed, multiple times, that Alameda was created first, got its bank account, and FTX used that Alameda bank account when FTX was created.
He alludes to it here: https://youtu.be/4o_jPzBZSIo at 11:58 or so, where he mentions “before FTX had its own bank account.”
I know there’s a longer explanation, but that’s the best citation I can come up with off the top of my head. In the longer explanation, he specifically says that creating a bank account for a new company can be difficult, so they used Alameda’s bank account as they waited for a bank account specifically for FTX.
This goes specifically with point 31 in the document. Of course, they’ll have better evidence once they go through discovery, but this moron has been on a self-incrimination tour. I’d call it a wild success!
I'm just an engineer, but even I know that if you create an entity and expect to perform financial transactions as that entity, you need a bank account. Corporations, LLCs, HOAs, clubs, lemonade stands. Well, perhaps not lemonade stands... If you don't have the bank account open yet, then don't initiate any transactions.
It stretches credulity very far to believe someone running a financial institution did not know this.
1) SBF cared about traditional rules of banking/finance
2) SBF cares about doing things the 'right way'
He may have been doing it purposefully wrong, or he may have just wanted to do it as fast as possible ("Move Fast and Break Things") and so he skipped the requesite steps to get to what he wanted done, faster.
Not a justification for his actions, but simply why he may have done it
> Of course, they’ll have better evidence once they go through discovery, but this moron has been on a self-incrimination tour.
And lots of armchair lawyers have been deeply triggered by how the "media" have been proven to be corrupt and in on the scam by allowing him to speak. If there is any conspiracy here it is that the media were doing the bidding of the DA to get SBF to talk the nonsense he has been, trap him and put a massive bow on an easy prosecution.
I know nobody expects him to be a reliable narrator, but it's actually very easy to create a bank account for a new company, at least in my experience starting a small business.
He alludes to it here: https://youtu.be/4o_jPzBZSIo at 11:58 or so, where he mentions “before FTX had its own bank account.”
I know there’s a longer explanation, but that’s the best citation I can come up with off the top of my head. In the longer explanation, he specifically says that creating a bank account for a new company can be difficult, so they used Alameda’s bank account as they waited for a bank account specifically for FTX.
This goes specifically with point 31 in the document. Of course, they’ll have better evidence once they go through discovery, but this moron has been on a self-incrimination tour. I’d call it a wild success!