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Reblogged by kornel ("Kornel"):
molly0xfff@hachyderm.io ("Molly White") wrote:
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
Attachments:
- 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() (remote)
- 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 (remote)
