SIGforum.com Main Page The Lounge Cryptocurrency Exchange FTX Files for Bankruptcy // Bankman sentencing 28 March 2024
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Member |
It would seem that Tom Brady’s luck is on a losing strike in more than one way. [Article is a couple days old, so he may have been further overcome by events.] https://www.dailymail.co.uk/sp...d-fortune-crash.html Divorce, defeats... and now the crypto crash! Tom Brady risks losing ENTIRE investment after the FTX exchange he and ex-wife Gisele Bundchen plunged their fortune into almost collapsed, compounding his recent misery Tom Brady and Gisele Bundchen struck an equity deal with FTX last year But the company is in freefall after Changpeng 'CZ' Zhao announced a takeover The market value of FTX crashed 70 percent this week as panic mounted The news comes after Brady's recent announced divorce from Bundchen and a 4-5 start to the season with the Tampa Bay Buccaneers in the NFL --------------------- LGBFJB "Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it." — Mark Twain “Democracy is the theory that the common people know what they want, and deserve to get it good and hard.” — H. L. Mencken | |||
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| Fire begets Fire |
Awfully coincident, a big D mega donor goes belly up right after the election. Shocking; not. "Pacifism is a shifty doctrine under which a man accepts the benefits of the social group without being willing to pay - and claims a halo for his dishonesty." ~Robert A. Heinlein | |||
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| Member |
His parents are both law professors at Stanford so he'll be getting a lot of free legal advice when he moves back into his room at home. | |||
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| Get my pies outta the oven!  |
WTF? I really hope this isn’t what happened 
Link | |||
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Shaman |
Crypto, a pyramid scheme but on a GRAND scale.  He who fights with monsters might take care lest he thereby become a monster. | |||
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| If you see me running try to keep up  |
Yet, even with blatant fraud like this, people still tout crypto as the only safe means of securing wealth. People never learn. | |||
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| Member |
You can’t have anything nice anymore. The U.S. supplies you with damn near everything & you invest it instead, you’re on your F…ing own. We’re done. Fight your own war. | |||
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Raptorman |
This asshole better go to prison. ____________________________ Eeewwww, don't touch it! Here, poke at it with this stick. | |||
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| No More Mr. Nice Guy |
There is a need for crypto, or at least something private and secure. The more I learn about crypto the less secure it is. Some exchanges make it impossible to convert crypto holdings to cash. They're probably in a similar situation as FTX. One can have their own private electronic vault, but I seriously worry about the gizmo failing and the value disappearing. One thing I am certain of is that central banks and governments are working hard to force us all into digital national currencies instead of physical currency, and it will give them total control over our lives. | |||
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Tinker Sailor Soldier Pie |
Yes, and we all must fight that with utmost earnestness. We must not allow a cashless society. ~Alan Acta Non Verba NRA Life Member (Patron) God, Family, Guns, Country Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan "Once there was only dark. If you ask me, light is winning." ~Rust Cohle | |||
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| Experienced Slacker |
Concur. While I've never invested in crypto, the temptation is always there since I don't know how much longer cash can remain king. Especially since it is also intrinsically worthless and mostly digital these days too. I'd love to come up with a solution, but I'm just not that guy. | |||
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| Member |
At least with “paper assets”, the paper is still usable for wiping one’s ass; with “digital”, all you get is a fart smell which vanishes into thin air. --------------------- LGBFJB "Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it." — Mark Twain “Democracy is the theory that the common people know what they want, and deserve to get it good and hard.” — H. L. Mencken | |||
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| wishing we were congress |
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| If you see me running try to keep up |
When I first started looking at crypto, they touted how secure it was. And the more I have seen it over the years, the less that is true. How can anything electronic be secure? When lots of money is involved, people will find a way to defeat the security. There is a need for something but I doubt there will be anything in my lifetime that will survive. Stick with physical metal if you want some value even if our economy crashes. The problem becomes how and where to store it and then how to use it when/if the world economy crashes. Metals are not the most convenient to carry around. | |||
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| If you see me running try to keep up |
That video explains a lot, as it turns out he was giving away a lot of money, it just wasn't his. | |||
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| Never miss an opportunity to be Batman!  |
So in two pages, I have learned that two idiots who look like they are 20 something years old with little to no life experience, set up a cryptocurrency company. They received money from Ukraine which was actually aid money from the US. They then moved the money to another company that is a subsidiary, and donated heavily to the Dims. This sounds almost like something | |||
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| If you see me running try to keep up |
The dude that doesn’t comb his hair allegedly set up a back door in FTX accounting system. It allowed him to alter the financial records without alerting anyone. This allowed transferring 10B in funds to Almeda and not sounding any alarms. He needs to spend some time in prison. | |||
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| Big Stack |
The nature of pyramid/Ponzi schemes is that there's someone in the middle collecting all the money, who, when he sees that the gig is up and the S is about to HIF, takes off with the money. I'm trying to figure out who that is with crypto, but it doesn't seem to work in a way that facilitates that. They money isn't going into a central pool, everyone is buying and selling.
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| Tinker Sailor Soldier Pie |
Yup, that pretty much explains it. ~Alan Acta Non Verba NRA Life Member (Patron) God, Family, Guns, Country Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan "Once there was only dark. If you ask me, light is winning." ~Rust Cohle | |||
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Member |
How on earth did that author pull THAT from the article he's quoting?! The article clearly states that Ukraine partnered up with crypto companies as a way that people could donate. It says nothing about Ukraine investing US aid into crypto. Link ___________________________________________ "Why is it every time I need to get somewhere, we get waylaid by jackassery?" -Dr. Thaddeus Venture | |||
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SIGforum.com Main Page The Lounge Cryptocurrency Exchange FTX Files for Bankruptcy // Bankman sentencing 28 March 2024
Main Page The Lounge Cryptocurrency Exchange FTX Files for Bankruptcy // Bankman sentencing 28 March 2024© SIGforum 2024