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FTX update: Sam Bankman Fried arrested

TFSF

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Maxine Waters, tell us you are guilty without telling us you are guilty #FTX
 
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Joe Kings

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FTX was founded in 2019 and somehow managed to quickly become the biggest name in crypto

Sponsored the MLB and basketball arenas, SBF heavily lobbying members of Congress, his face is all over the place as "the next Warren Buffet"

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How'd he elevate to such a position so quickly? Let's look at his parents


His dad has written about & made a career off of getting rid of the "cash economy" and helping the govt find tax evasion (odd that his son his the biggest name in crypto)


His mom is a major dem operative

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Looks like the CEO of FTX (& SBF's gf) also has connections in high places

IMO, this whole thing seems like a weirdly arranged business/sexual partnership with ulterior motives


SBF was one of the largest donors to Democrat candidates, second only to...George Soros

BF gave the second largest donation to Joe Biden’s presidential campaign in 2020

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One month after the war in Ukraine started, DC puppet Zelensky partnered with SBF for crypto donations...

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We've come to find out that Sam's "minimalist, poor" lifestyle was completely a front..."I drive a Corolla!"

He lived in the Bahamas in a multi-million dollar mansion with his closest circle of friends where they'd have drug-fueled orgies apparently

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Two weeks ago a big-named crypto developer who lived in PR was sounding the alarm on the CIA and m0ssad running a pedo elite cult in the Caribbean

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Now for where it gets even more interesting...

Alameda Research headed up by Ellison (mentioned earlier) and under the FTX brand. Here's their logo

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Let's not forget Sam - the man himself...

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Wow wonderful Info
 

MIZCDB

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Will Sam Bankman be Fried?

giphy.gif
 

MalO

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Some screenies from over at reddit.

Sam Bankman-Fried = Fried Bankman
 

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MalO

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Chick is ugly, but is wild. Must be a tiger in the sack. Respekt her game.

:LOL:
Caroline Ellison, the chief executive of FTX sister company Alameda Research, wrote on her Tumblr account in February 2020 that she made a 'foray into poly,' referring to the practice of having multiple partners.

She said that in a polyamorous relationship everyone should have a 'ranking of their partners' and 'vicious power struggles for higher ranks.'

Ellison also wrote that characteristics of 'cute' boyfriends included 'controlling most major world governments' and 'sufficient strength to physically overpower you.'

64647477-11439589-Bankman_Fried_s_ex_girlfriend_Caroline_Ellison_when_she_appeared-a-7_1668696304940.jpg
 

shiv

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I saw something about sbf speaking at an event next week with Janet yellen, zellensky, Zuckerberg and others
 

MalO

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https://www.zerohedge.com/markets/b...shed-out-300-million-during-ftx-funding-spree
When FTX raised $420 million from an array of big-name investors in October last year right around the peak of the crypto bubble, at an FTX valuation of $25 billion, the cryptocurrency exchange said the money would help grow the business, improve user experience and allow it to engage more with regulators. In other words, a pure primary offering.

But as the Journal reports, what was left unmentioned was that nearly three-quarters of the money, $300 million, went instead to FTX founder Sam Bankman-Fried, who sold some of his personal stake in the company, according to FTX financial records reviewed by The Wall Street Journal. In other words, what was repped & warranted as a primary offering was really most a secondary. Which of course is completely criminal but in SBF's case it just means "get in line."

SBF's sale of stock in October 2021 came in the midst of a six-month fundraising blitz that ultimately brought in roughly $2 billion from investors including Sequoia Capital, funds managed by BlackRock and the Singapore sovereign wealth fund Temasek.

The October 2021 fundraising valued the company at $25 billion. In a press release, Bankman-Fried said he was happy “to partner with investors that prioritize positioning FTX as the world’s most transparent and compliant cryptocurrency exchange." Of course, it ended being everything but.

The amount raised contained numerical references to marijuana and oral sex: $420.69 million raised from 69 investors. An article published by one of FTX’s investors, Sequoia, called that fundraising a “meme round,” referring to the embedded jokes.

Three months earlier, in July 2021, Bankman-Fried bought out the roughly 15% stake owned by Binance, FTX’s first outside investor. Binance CEO Changpeng Zhao tweeted this month that the amount totaled $2.1 billion, paid in a combination of FTT, FTX’s in-house crypto currency, and BUSD, Binance’s stablecoin, whose value is pegged to the U.S. dollar.

After the July 2021 sale, the FTX shares Binance previously owned ended up in Paper Bird Inc., according to FTX documents. Paper Bird is an entity 100% owned by Mr. Bankman-Fried, according to documents on FTX filed with Miami-Dade County, in Florida.

Which means that in addition to the direct $300 million cash out, SBF also siphoned off $3.3 billion in "related party receivables" - as we noted yesterday, we already knew that $1 billion went directly to Bankman-Fried.

This is some of the most brazen fraud I've ever heard of.

I wonder if anyone at FTX ever heard a giant sucking sound while they were sitting in the office? You couldn't possibly drain that much money from a financial institution without someone hearing it.
 

ChicagoFats

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VosFrost

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Hope you’re holding XRP.

This is already well in motion via Ripple and other blockchain providers (and available for use). They aren’t delivering XRP but actual fiat currency.

Regardless, the issue is “all underlying” accounts are held still held at banks.

Even a small fin tech / 3rd party payments provider who may have “digital wallets,” will still keep underlying balances at a bank.

So if we aren’t holding cash at banks, where are we? Government accounts?
 
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