Presentation from new FTX management to creditors.
Slides 18 and 19 "The $65 Billion Backdoor" and "Margin Requirements and Auto Liquidation" give a good description of the rules in place along with code snippets:
It's interesting to me if this lets the software engineers "off the hook" for the fraud. If these flags, limits and values were set by SBF et al the CTO (Nishad Singh) could argue he didn't know what was going on. There was a discussion a month ago on this topic:
https://news.ycombinator.com/item?id=33975926
Slides 18 and 19 "The $65 Billion Backdoor" and "Margin Requirements and Auto Liquidation" give a good description of the rules in place along with code snippets:
It's interesting to me if this lets the software engineers "off the hook" for the fraud. If these flags, limits and values were set by SBF et al the CTO (Nishad Singh) could argue he didn't know what was going on. There was a discussion a month ago on this topic: https://news.ycombinator.com/item?id=33975926