Sam Bankman-Fried Wiped Out in Days (FTX)

[ElArteSuave]

hoe looks like billy from american dad loooool

https://americandad.fandom.com/wiki/...Billyroots.png

[yewotm8]

It sounds like this was some merchant-tier horsechit so I'm glad he went bankrupt.

BRB they "leveraged pricing differences for different cryptos in different countries," so it sounds like they created a derivatives FOREX market whereby they could buy BTC for $X and sell it for 1.1X Euro and this is how they made their money.

That delivers no value to the consumer is a purely extractive. It removes capital from capital markets and deposits it into the pocket of the merchant.

Unfortunately that's not primarily what he was doing. That's still a useful function because it helps lower the price difference between the two markets and helps fulfill demand. The problem is that price difference in the first place, which for currency itself could only exist due to regulation (gay).

He was leveraging his own coin, which he could arbitrarily print more of like the federal reserve, as the collateral. It was always bound to fail.

[gwg77]

-$900m of liquid assets against $ 9 billion liabilities
-$7m holding of "TRUMPLOSE" (I heard he was taking bets against Trump in 2024)
-NO bitcoin assets despite $1.4 billion bitcoin liabilities









Video of Ken Griffin:

https://twitter.com/VentureCoinist/s...82030385676289

[gwg77]

The Definitive Thread on FTX

61 tweet thread. Link starts on 3rd tweet, so just scroll up to see the first couple tweets. Still reading it, it's pretty interesting. This guy has a lotta knowledge of FTX since inception.



https://twitter.com/mrjasonchoi/stat...02805171822592

[128]

[ispy]

The Definitive Thread on FTX

61 tweet thread. Link starts on 3rd tweet, so just scroll up to see the first couple tweets. Still reading it, it's pretty interesting. This guy has a lotta knowledge of FTX since inception.



https://twitter.com/mrjasonchoi/stat...02805171822592

unrolled version on one page: https://threadreaderapp.com/thread/1...873825794.html

and youtube:

[DeadlyStriker]

This is literally every crypto. It's all a Ponzi scheme. It doesn't exist. It's just numbers on a screen. The "decentralized" aspect of it is even more ludicrous because you have no idea who is controlling it, for what purpose and what will happen.

Either way bitcoin is shackled via the derivatives market now so it ain't pumping to anything.

Most people got anally raped being greedy trying to get 10x their money by betting on meme coins and the majority of Joe schmo's got fisted. BRUTAL.

[jackamo2887]

This is literally every crypto. It's all a Ponzi scheme. It doesn't exist. It's just numbers on a screen. The "decentralized" aspect of it is even more ludicrous because you have no idea who is controlling it, for what purpose and what will happen.

Either way bitcoin is shackled via the derivatives market now so it ain't pumping to anything.

Most people got anally raped being greedy trying to get 10x their money by betting on meme coins and the majority of Joe schmo's got fisted. BRUTAL.

People want a decentralized and unregulated currency but they don't realize there is a reason why currency is regulated..so chit like this can hopefully be avoided lol

[FAPhaggot]

Fukking LOL, on spread.

She's the kind of girl in your electrical engineering classes who starts looking really cute when it's just her and 50 male Pajeets. No doubt billionaire brah ran into something similar, hanging out with fukking autistic crypto lords all day and she's like the one girl who shows up.

[Dave22reborn]

Lmao has anyone ever heard this queers voice?

And what did this elite, rich soy infused ****ggot do during the pandemic? Did he preach about the lockdown, the masks, the vaccines, and then take private trips to places that weren't shutdown?

[Destor]

Fukking LOL, on spread.

She's the kind of girl in your electrical engineering classes who starts looking really cute when it's just her and 50 male Pajeets. No doubt billionaire brah ran into something similar, hanging out with fukking autistic crypto lords all day and she's like the one girl who shows up.

The one girl who shows up and she’s also into amphetamines and polyamory

I think Charlie Munger would call this wretched excess while referencing Sodom and Gomorrah

[jackamo2887]

Someones gotta go to jail for this ****..right?

[moosik85]

[128]

^^^^ but they're the good guys!


Can someone link to people, particularly Redditors telling us how much they lost?

[kengriffeyjr24]

^^^^ but they're the good guys!


Can someone link to people, particularly Redditors telling us how much they lost?

https://www.reddit.com/r/FTX_Officia..._did_you_lose/


https://www.reddit.com/r/FTX_Officia...om_my_ftx_but/

https://www.reddit.com/r/FTX_Officia...lost_my_money/

[TBO1313]

That delivers no value to the consumer is a purely extractive. It removes capital from capital markets and deposits it into the pocket of the merchant.

That could describe half of the US economy especially financial markets

[sooby]

easily digestible cliffs on what happened for those not too familiar with cryptofinance?

I only had a few hundred dollars in crypto, lost around half of it so was no biggie for me.

also SBF looks like he could be a miscer

[chrsschb]

And he looked poised to leverage his fortune — $26 billion at its peak — to shape the world, donating millions to Democrats

Found the problem.

[greenleaf]

LOL. What's there to testify? They mean to arrest him and lock him up before he flees?



House lawmakers call Sam Bankman-Fried, other executives, to testify at hearing on FTX collapse

https://www.cnbc.com/2022/11/16/hous...-collapse.html

[kengriffeyjr24]

^^^^ but they're the good guys!


Can someone link to people, particularly Redditors telling us how much they lost?

This is gold..latest wsj article

"One FTX executive vomited when he learned that the crypto exchange was missing billions of dollars of customer money. A company lawyer quit via a harsh text message to then-Chief Executive Sam Bankman-Fried. A top salesman who had bet big on FTX equity saw most of his wealth evaporate overnight.

What started as a dream job turned into a nightmare for employees of FTX, the crypto exchange that imploded in spectacular fashion last week.:

[RusselRestHaven]

No idea what any of this means

i never have and im afraid i never will

[gwg77]

Holy shіt, check out this Vox.com headline. These people have no shame.

[Kiop]

source:
https://twitter.com/fakertarians/sta...CjhZuLhJssAAAA

Spoiler!

[gwg77]

This is gold..latest wsj article

"One FTX executive vomited when he learned that the crypto exchange was missing billions of dollars of customer money. A company lawyer quit via a harsh text message to then-Chief Executive Sam Bankman-Fried. A top salesman who had bet big on FTX equity saw most of his wealth evaporate overnight.

What started as a dream job turned into a nightmare for employees of FTX, the crypto exchange that imploded in spectacular fashion last week.:

All of the FTX employees got rekt, too. Sam let them invest in the company at a 50% discount and pressured them relentlessly to put their money into the company. They lost everything.

[128]

Holy shіt, check out this Vox.com headline. These people have no shame.

At least it shows they're feeling the heat

[greenleaf]

I expect he'll make it to the top 10 fugitives list if they don't lock him up soon.

https://www.fbi.gov/wanted/topten/ruja-ignatova

[gwg77]

Rumor has it on twitter that there is a SBF-Ugly Girl sex tape that will be released on the 18th

[CondorChang]

Why are they so dysgenic?

Once again, the final Truth Pill is the Physiognomy Pill.

[keyboardworkout]

Fuking inbred Ashkenazi/Khazars.

Time to purge them from society again.

[Destor]

I would definitely at least skim through these polycule sex tapes like driving past a bad car accident