FEATURE: FTX's pitch deck projections were not backed by 'viable assumptions,' legal expert says By RyanJamesWeeks and fintechfrank
But were there red flags that FTX’s blue-chip backers — which also include BlackRock, Tiger Global Management and SoftBank — missed? George Morris, a partner at the law firm Simmons & Simmons, thinks so.
Morris — a London-based crypto specialist who is also the board-appointed lawyer for the lobby group CryptoUK — told The Block that claims made by FTX in the pitch deck “are very significant, and aren’t backed up by any viable assumptions or calculations.” In particular, the revenue figures for 2021 and 2022 don’t fit with projected volumes and fees, “meaning they don’t appear to be tied into anything specific,” he said.
flag for investigators,” Gellasch, a former Senate and SEC staffer, said. “These types of documents are likely to be an exhibit in court cases.”
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