As part of the ongoing trial of Sam Bankman-Fried, an unpublished tweet thread has emerged, revealing that the former CEO of FTX had considered shuttering the sister hedge fund Alameda Research.
The draft was written in September 2022, just two months before the collapse of FTX, the crypto exchange Bankman-Fried co-founded.
His lawyers brought the thread back to the fold on Tuesday, during questioning of FTX's former CTO Gary Wang.
Baradawaj, who did not immediately respond to Decrypt's request for comment, did not immediately respond to Decrypt's request for comment.
The bill also laid out reasons for shutting down the hedge fund, among them being that the firm did not warrant the cost of capital, which he described as'really expensive' in the current economic environment.
Alameda was not generating enough revenue to prove its continued existence as a liquidity provider.
It's worth noting that the unpublished thread was mentioned in a complaint filed by the Commodity Futures Trading Commission in December 2022, when the regulatory agency slapped Bankman-Fried with a lawsuit over alleged violations of federal commodities laws.
The CFTC said the statements didn't conflict with what both Bankman-Fried and Alameda were saying publicly at the time.
Alameda's former CEO and ex-girlfriend, Caroline Ellison, testified that the company's balance sheet was intentionally manipulated to present a less risky image to investors.
At Bankman-Fried's direction, Alameda borrowed 14 billion in customer funds from FTX, using $10 billion worth of the money to repay its lenders.