No Bullshit Bitcoin

Silbert noted that DCG has a liability of $575 million to Genesis. In the letter, he also described a $1.1 billion promissory note, due June 2032, which he said came about as the parent company stepped in to assume liabilities from Genesis related to the implosion of Three Arrows Capital.

He has been held in detention since August, days after the U.S. Treasury used sanction powers against the Tornado protocol.

The collapse of the crypto exchange FTX and the fall of its eccentric founder, Sam Bankman-Fried, has brought with it a wave of questions about the philosophical movement that he helped fund and seemed to embody, “effective altruism.”

Bankman-Fried and FTX co-founder Gary Wang made "unauthorized" transfers at the direction of the Bahamian government while "effectively in the custody of Bahamas authorities," according to the filing.