Today we’re going to be taking a look at an interesting development going on with the FTX case, how it has to do with their bankruptcy, and one Dan Friedberg. There’s some people that are not happy with Dan Friedberg and want to make him testify. He has been the most silent, shadowy figure in this entire case. And we’re going to take a look into what they’re trying to do to get him out.
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Welcome to Big Boy crypto my name is Ben Today we're going to be taking a look at An interesting development going on with The FTX case how it has to do with their Bankruptcy and one Dan freeberg there's Some people that are not happy with Dan Freeburg and want to make him testify he Has been the most silent shadowy figure In this entire case uh we're gonna take A look at what they're trying to do Right now to get him out so back on January 12th our friend Sam bankman Freed you guys know great friend of the Channel we love Sam we even went to his House in the Bahamas as you guys know he Did this FTX pre-mortem overview so SPF Has been pushing back against this idea That they needed to go through Bankruptcy in the beginning he's saying Everything is solvent there's no Problems somebody shared a video so this Is the greatest video ever on the Internet I think Scott melker said it It's where a lady has a baby in her hand And she sees a little carrier that the Kids should be in and she sees the kids Missing and she forgets the kids in her Arm and she's running around and she's Looking for the baby and then she goes Oh there's the baby that's kind of like Sam Bateman freed running around looking For all this money for FTX we know the Money's all there and he knows the Money's all there but he knows that it's
Hidden in a lot of different places so This is where I really want to get to Here you can see he shows the balances He says oh you know we don't need Bankruptcy blah blah blah blah but a lot Of the issues here have to do with Sullivan and Cromwell so Senators have Raised concerns about a potential Conflict of interest from Sullivan and Cromwell the bankruptcy attorneys Contrary to snc statement they had a Limited and largely transactional Relationship with FTX SC was one of the FTX Internationals two Primary Law Firms And if hey if you're a law firm for FTX You did a great job now what's Interesting here is they try to position Themselves as they are the only people That can be in charge of this bankruptcy Well here we have FTX defending the Choice of the law firm to guide through The bankruptcy so scroll down here Collapse crypto exchange FTX will try to Convince a judge at a hearing on Friday To sign off on its hiring of lawyers and Financial advisors amid allegations that It's chosen law firms prior work for FTX Creates a conflict of interest Of course if you worked with FTX as a Law firm before and you missed all the Compliance errors that were going on you Don't deserve to be able to walk them Through bankruptcy it doesn't make any Sense the U.S Department of Justice
Bankruptcy Watchdog has asked U.S Bankruptcy judge John Dorsey in Wilmington Delaware not to approve ftx's Hiring of Sullivan and Cromwell arguing That the elite New York law firm has not Disclosed sufficient information about Its past ties to FTX including the fact That ftx's U.S general counsel Ryan Miller is a former partner at the firm Former top attorney Daniel Friedberg Also opposed Sullivan and cromwell's Hiring saying Thursday that the law firm Had conflicts of interest stemming from Its connections to Miller now very Interesting what we're seeing here we're Seeing Dan Friedberg try to throw Ryan Miller under the bus and yet Dan Friedberg hasn't said anything about SBF At all but yet he's throwing Ryan Miller Under the bus what's the deal we've been Told Ryan Miller is one of the good guys In this case in our reality so here's Something very fascinating that has just Came out this here is a filing now what Is this filing about what are they Trying to do here objectors Warren Winter and Richard brummin collectively The individual objectors hereby submit This emergency emotion for the Adjournment of the hearing on the above Captioned application which is currently Scheduled at 10 A.M on January 20th Which I believe that's today that is Today so what they're trying to do here
Is they're trying to get Dan freeberg to Testify about why or why not they should Hire Sullivan and Cromwell but the key Here is Daniel freeberg he doesn't want to be Seen he doesn't want to be heard from he Wants to do everything in the shadows so Here they're trying to get him to Testify live which they're going to have A hard time doing Council for the Individual objectors have never had any Contact or communication with Dan Freeberg whether before this following Or after it appears that Mr Freeburg Styled his declaration in support of the Amended objection of his own volition And certainly without consulting the Individual objectors Council or seeking Their permission so let me break this Down exactly what this means Dan Freeburg has been running on his own Trying to create his own narrative Trying to put the right lawyers in place Trying to put the right people in the Right positions to help push his Narrative for how he thinks all this Needs to break down you have this Individual objectives counsel which is Led by these two guys or these two guys Are at least members Warren winter and Richard blumen something sorry Richard And so he's making all these moves Without Consulting them which is not the Way this is supposed to work inside of a
Bankruptcy so will Dan freeberg actually Have to testify well it's a great Question we don't know a lot of people Don't know a lot of things when it comes To FTX of course we know that back on December 1st the FDX CEO sambaitlin Freed said he unknowingly co-mingled Funds there's a lot of Unknowing things That have gone along here and what you Start to see is a pattern of behavior From people who work at FTX whether it's Dan freeberg whether it's Sam Bateman Freed nobody knew anything nobody knows Anything about what happened we know That's absolutely a lie of course we Know this Congress FTX problem one in Three members got cash from crypto Exchanges bosses where's this money gone We don't know are they going to have to Claw back all that money we've been told The answer is yes but very few I think They said only eight Senators out of 131 Have actually given money back to FTX Remember your FTX user funds went to Support or senators and congressmen and Congresswomen okay maybe some you don't Support your money went to support and So this money's got to go back to FTX For the bankruptcy hearing and I'm not Sure if you guys know this but Supposedly now FTX has a chance to Reboot and run again that's what John Ray the CEO of FTX right now the Bankruptcy attorney has said is going to
Possibly happen there's a chance they May be able to reopen FTX now here's Where this gets a little convoluted what Sam Bateman freed and what a lot of These people were waiting on was for the Market to turn around because if the Value of Bitcoin were to go up they're Insolvency problems well they go away so Are we going to see a new positioning as We get new people coming into crypto Ready for the bull run that maybe don't Know what happened at FTX or what Happened at Celsius or what happened at Three arrows Capital coming in at night Evely jumping back in into these Exchanges I don't know I think FTX is Going to be a hard hard sell for people Because team bankman freed is so out There he's so recognizable because of His bad haircut and I hope that bad Haircut alone will be enough to keep People away from FTX we'll continue to Watch this developing story it's all got To be blessed big boy out Foreign
