So much that could unravel here… but I’m sure it just all gets swept under the rug. A few scapegoats spend the rest of their life in White collar prison and everyone else gets off free
FTX update: Sam Bankman Fried arrested
- Thread starter shiv
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Off-duty chat, hobbies, and general BS. If it’s not about the game or the news, it’s here.
Check the OP again. I updated it to have a lot of info up front
Exclusive: At least $1 billion of client funds missing at FTX
While it is known that FTX moved customer funds to Sam Bankman-Fried's Alameda trading desk, the missing funds are reported here for the first time. The financial hole was revealed in records that 'SBF' shared with other senior executives a week ago.
www.reuters.com
CEO of Alameda Research is a 28-year-old Harry Potter fan
When you're running an apparent $10bn crypto trading firm.
www.efinancialcareers.com
"FTX is backed by a slew of high-profile investors, including SoftBank Vision Fund, Tiger Global, Sequoia Capital, and BlackRock."
www.businessinsider.com
The collapse of crypto firm FTX and its superstar founder explained for those who know nothing about crypto
Sam Bankman-Fried and his crypto exchange, FTX, spectacularly imploded this week. Here's what happened, and what it all means.
www.businessinsider.com
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This report by CoinDesk is what started it all happening last week
www.coindesk.com
And then this guy:
en.wikipedia.org
That owns a competing platform Binance, announced he was pulling his $600M out of FTX's coin FTT (which was orignally put there as a "truce" between FTX and Binance)
Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet
Alameda had $14.6 billion of assets as of June 30, according to a private document CoinDesk reviewed. Much of it is the FTT token issued by FTX, another Bankman-Fried company.
And then this guy:
Changpeng Zhao - Wikipedia
That owns a competing platform Binance, announced he was pulling his $600M out of FTX's coin FTT (which was orignally put there as a "truce" between FTX and Binance)
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SBF alluding to the fact that he's going to bring down Binance and CZ Zhao:
"At some point I might have more to say about a particular sparring partner, so to speak. But you know, glass houses. So for now, all I’ll say is: well played; you won."
FTX's crypto empire was reportedly run by a bunch of roommates in the Bahamas who dated each other, according to the news site that helped trigger the company's sudden collapse
CoinDesk reported Thursday that the crypto exchange was run by a "cabal of roommates" living in The Bahamas.
www.businessinsider.com
Sam Bankman-Fried secretly transferred FTX customer funds to Alameda Research after his trading firm suffered losses in the spring, report says
Sam Bankman-Fried transferred at least $4 billion from FTX, including customer funds, to help prop up his Alameda trading arm, Reuters reported.
markets.businessinsider.com
So did Sandusky
But there won't be. People in power involved with this won't let it happen because it would be bad for them if the truth of what was going on came out.
Did that the other day. Didn't have much but figured why risk it.
I saw a post tracking his plane to Venezuela yesterday.
Lots of people got screwed but I find all of this shit hilarious
It is kind of funny.
You could say in the end it was their fault, but FTX was cooking the books ( on the scale of billions) behind the scenes.
But still everyone should know that crypto is a high risk investment. Especially when you move off of Bitcoin or Etherium
And a couple brain cells could tell you that FTT ( the ftx token) was basically kohl’s cash
Wouldn’t out too much (or any) stock in this, butWhat about HBAR
Thread by @ManceHarmon on Thread Reader App
@ManceHarmon: 1/4 Back in 2018 when we first raised funds for @hedera, we accepted Bitcoin and Ethereum. All funding received in crypto we immediately converted into cash, a decision which was viewed as a betrayal b...…
threadreaderapp.com
Yes it is true
Deeper you dive deeper it goes. This is like Murdaugh family shit
Yeah I would take it off. I have Exodus on my phone.
Elon just spent $44 billion so he could shitpost about the most powerful political cabal on earth
Natalie Winters on GETTR: Biden’s ‘Great Friend’ & Senate Colleague Leads Bi...
Biden’s ‘Great Friend’ & Senate Colleague Leads Binance’s Board, Which Waited ONE Day After Midterm ...
Crypto Pioneer Sam Bankman-Fried seen Operating a BIG Laundromat near Kiev..
Stolen customer funds....Dem donor money..and now Ukraine..?
farm.substack.com
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