The fact that this post was deleted once already is quite troublesome.
I did not break any community guidelines.
I’ve posted this to X, and sharing it again here. I’ve also circulated this information to various parties who I believe would be interested. Deleting this post again will only sound the alarm louder.
Are LayerZero and Stargate separate enough to justify an acquisition?
Sharing some concerns that I have around the situation & really think that the community at large should know about this.
You can read the entire document here: Declaration (FTX v. LayerZero)
- LZ and Stargate shared a join FTX account with co-mingled funds according to this verified response to an interogatory.
- Bryan and his team would often work out of the FTX offices & regularly stayed at the FTX compound.
- FTX would often pay for the LZ / SG team accommodations.
- Alameda borrowed money from LayerZero.
- Shortly after Bryan’s pinned tweet, on March 17, 2022, Alameda bought all the STG tokens that got auctioned off.
- Bryan messaged Caroline directly during the FTX melt down.
- Bryan then offers to buy back all the FTX ZRO and STG and LZ equity, in exchange for paying $25m+$45m loan forgiveness ($70m total).
- In a classic bait and switch, Bryan undercuts Caroline (and FTX creditors) by lying and dropping his offer from $25m to $10m.
- Bryan took advantage of Caroline and the situation that was unfolding at FTX.
- Bryan knew about the FTX situation before the public knew, and leveraged that knowledge to his benefit. [Additional Image 1] / [Additional Image 2]
Additionally - it’s fairly widely known that Bryan sold 10s of millions of STG at $4 in secondary sales to fund the purchase of his luxury home and a soccer team.
These facts are enough to raise some questions.
Is this acquisition truly in the best interest of the LayerZero and Stargate communities?
Or is this deal really meant to benefit Bryan again?