The full video is even worse.

He correctly explains that proof of assets does not show proof of liabilities.

True, but so what?

We know you have debt, you have to to buy the Bitcoin and debt is a liability, you're not going to willingly lie about this.

You can, like FTX lie about holding Bitcoin.

Same argument as OP_RETURN, the answer is not perfect, so we're not going to give it.

Yes, give me an imperfect answer. I understand it's imperfect.