Mr. Purple
@MrPurple_DJ
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President @acronymexchange DJ and investor. I know a few things about bankruptcy; trying to help FTX creditors in this unprecedented mess.
Los Angeles
Joined February 2022
FTX Recovery likely 205%+ Could make crypto holders "whole" but time will tell. If you want to improve your recovery, create an account over at @AcronymExchange, we will be airdropping tokens to original FTX customers and will facilitate other projects airdrops as well.
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RT @anth0mk: Update about FTX with claim "disputed" On February 1, 2025, the court released a document addressing an objection to certain…
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He's not wrong here @DOGE @SenLummis As a bankruptcy practitioner, imo the Delaware bankruptcy system is desperately in need of an overhaul generally, and specifically it is critical to update the code to address the unique nature of digital assets in a bankruptcy proceeding.
@DOGE the bankruptcy industrial complex needs urgent reform. John Ray III tried to sell 10% of anthropic at a $3B valuation claiming it was "vaporware" until the UCC stopped him. He negotiated (in bad faith as it turns out) to keep the stake and still dumped it under the cover of a sweeping law in US bankruptcy known as "business judgement" - designed to protect highly competent and equity incentivized management teams, not bk restructuring lawyers who take over as CEO in a political takedown, with no clue how to run a business. This stake would be worth ~$6B at the last round valuation. FTX creditors were equity holders in a once-in-a-generation company that could have made us all whole. John Ray III and his cabal of lawyers took it away from us. This is just one of several mind-blowing episodes in the FTX bankruptcy where the debtors systematically silenced the UCC and disposed of assets significantly under market value. The US Dept of Justice has been commandeered by unelected bureaucrats and now largely serves the interests of biglaw, and anyone who questions or threatens exposing those in power becomes a victim of lawfare.
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@odor_di_femmina @AcronymExchange Thank you! Looking forward to moving the industry forward and helping FTX victims recover. 🫡
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@0x42069x Actual amount next week will be <$1B, over the course of 2025 will be another $8B but >70% of that will go to funds that bought claims (which won’t go into crypto).
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@loblawbob2 @HodlMagoo Magoo- take a look at what we’re building at @AcronymExchange, self custody in the cloud without commingled funds. You truly can have the best of both worlds (and it’s bankruptcy remote). These kind of stories need to be a thing of the past.
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@edwardmorra_btc If you see anything that says $16B it is like a scarlet letter of a grifter who has no talent beyond ctrl + c / ctrl + v
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@AcronymExchange For those wondering, I am indeed a real person and I do know how to DJ, that's where my name/Twitter handle comes from.💜
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Not another one. 🤬 Take control of your crypto and only use an exchange that doesn't commingle customer assets. That's what we built @AcronymExchange Your assets are always held in your wallet verifiable on chain. The way it should be!
BREAKING: BITCOIN MAXI EXCHANGE “SWAN” ADMITS IN A COURT FILING THAT SOME CUSTOMER DEPOSITS ARE TIED UP IN PRIME TRUST’S BANKRUPTCY PROCEEDINGS; SWAN HAS PREVIOUSLY DENIED BEING AFFECTED BY THE BANKRUPTCY 🚨🚨🚨 WITHDRAW ALL FUNDS FROM SWAN IMMEDIATELY 🚨🚨🚨
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RT @AcronymExchange: Curious how Acronym’s DeFi Vault works? Watch @MrPurple_DJ break it down in under 3 minutes!
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@0x_Meth <$50k starts next week, Q2 is possible for >$50k but may slip into Q3 at the pace they are going.
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@ILiketoCope Very small $ volume of claims sold for <$50k claims, maybe tens of millions at the absolute most. >$50k is the opposite where funds control more than $6B of claims.
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RT @historian_ftx: 🚨SEC, Binance, and CZ (represented by FTX bankruptcy counsel Quinn Emanuel) have jointly agreed to pause their case for…
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@Cassia_88888 @TJohnsonLess70M @historian_ftx @sunil_trades They sued for assets they control, best outcome would have been not spending tons of $ on litigation to “settle” for $0. Only silver lining is those assets appreciated in value while they couldn’t sell them during their frivolous lawsuit.
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