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Molly White (molly0xfff@hachyderm.io)'s status on Sunday, 08-Oct-2023 00:12:16 UTC Molly White

From yesterday's exhibits in US v. Sam Bankman-Fried:
The prosecution shows that the "insurance fund" that FTX bragged about was fake, and just calculated by multiplying daily trading volume by a random number around 7500
#FTX #SBF #crypto #cryptocurrency
In conversation about a year ago from hachyderm.io permalink
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1. Github diff showing addition of code: def _get_change()-> Decimal: daily_volume = current_session().query(func.sum(Trade.size * Trade.price)).filter( Trade.created_at > datetime.now() - timedelta(days=1)).scalar() or Decimal() return f2d(numpy.random.normal(7500, 3000))* daily_volume / Decimal('1e9') @always_run_in_transaction(ro=False) def update_public_insurance_fund(): change = _get_change() sess = current_session() + public_insurance_fund = Public InsuranceFund.get(sess) sess.add(Public InsuranceFundChange(public_insurance_fund-public_insurance_fund, size-change)) public_insurance_fund.size += change sess.commit()
  https://media.hachyderm.io/media_attachments/files/111/195/065/415/152/843/original/c05e502153767407.png
2. FTX @FTX_Official The 5.25 million FTT we put in our insurance fund in 2019 now makes the fund worth over 100 million USD https://ftx.com/status Screenshot: Backstop Fund Size: 5,478,274.51613972 USD, 5,250,000.000000000 FTT Last updated: 14/02/2021, 08:05:00
  https://media.hachyderm.io/media_attachments/files/111/195/066/623/705/577/original/3b25f195ae22c6b6.png

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