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Cryptocurrency Exchange FTX Files for Bankruptcy // Bankman sentencing 28 March 2024
November 11, 2022, 09:06 PM
2BobTannerCryptocurrency Exchange FTX Files for Bankruptcy // Bankman sentencing 28 March 2024
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.htmlDivorce, 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
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DJT-45/47 MAGA !!!!!
"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
November 11, 2022, 09:10 PM
SIGnifiedAwfully 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 November 11, 2022, 09:46 PM
2PAKHis 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.
November 11, 2022, 11:52 PM
PASigWTF? I really hope this isn’t what happened
quote:
BREAKING NEWS: UKRAINE "MILITARY AID" FROM USA --- WAS INVESTED IN CRYPTO "FTX" BY UKRAINE!
Hal Turner Radio Show
Hal Turner
11 November 2022
The sudden collapse of crypto exchange "FTX" and its Bankruptcy filing today, has revealed that FTX presently suffers from $10-$50 BILLION in liabilities with almost ZERO assets . . . and among those liabilities, are "investments" made by . . . . UKRAINE . . . .
At this early hour, it __appears__ that tens-of-billions in American "Military Aid" to Ukraine, which was allegedly to be used to fight Russia, was cash that Ukraine DID NOT use to fight Russia, but instead invested into FTX!
And, as you might guess from the Bankruptcy filing . . . . it now seems that all the money . . . is gone.
Yes, you read that correctly: Instead of using US Military Aid to fight Russia, Ukraine "invested" part or all of it, into FTX, and right now, it looks like all the money is gone.
Democrat Donations
Also at this early hour, it now also __appears__ that the Chief of FTX, Sam Blankman-Fried, was the #2 donor to the Democrats. He was only outspent by Soros himself!
It __seems__ Ukraine was receiving money from the US, Ukraine sent it to FTX, and FTX sent it to Democrats, who originally voted to send it to Ukraine. At this hour, it __appears__ to some observers, to be pure, criminal, money-laundering, and a criminal conspiracy to violate campaign finance laws.
It now seems to closely-watching observers that the kid burned his own company -- and his own ass -- just to make sure the Dems won the mid-term elections, and seems to have done it by pulling the rug out from all those that had funds there in FTX.
So the collapse of FTX is now linked not only to Ukraine, but also to US Democrat politicians who got money from Sam Blankman-Fried, to campaign for the just-ended elections!
Link
November 12, 2022, 05:05 AM
ScreamingCockatooCrypto, a pyramid scheme but on a GRAND scale.
He who fights with monsters might take care lest he thereby become a monster.
November 12, 2022, 06:19 AM
mrvmaxYet, even with blatant fraud like this, people still tout crypto as the only safe means of securing wealth. People never learn.
November 12, 2022, 06:56 AM
recoatliftYou 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.
November 12, 2022, 06:59 AM
Mars_Attacksquote:
Originally posted by PASig:
It now seems to closely-watching observers that the kid burned his own company -- and his own ass -- just to make sure the Dems won the mid-term elections, and seems to have done it by pulling the rug out from all those that had funds there in FTX.
This asshole better go to prison.
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Eeewwww, don't touch it!
Here, poke at it with this stick.
November 12, 2022, 09:49 AM
Fly-SigThere 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.
November 12, 2022, 10:02 AM
Balzé Halzéquote:
Originally posted by Fly-Sig:
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.
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
November 12, 2022, 10:04 AM
apprenticequote:
Originally posted by Fly-Sig:
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.
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.
November 12, 2022, 10:24 AM
2BobTannerAt 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.
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DJT-45/47 MAGA !!!!!
"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
November 12, 2022, 03:42 PM
sdyvideo of Sam Bankster-Fried:
https://twitter.com/i/status/1591459357794918402worth a watch
November 12, 2022, 03:47 PM
mrvmaxquote:
Originally posted by Fly-Sig:
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.
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.
November 12, 2022, 03:51 PM
mrvmaxquote:
Originally posted by sdy:
video of Sam Bankster-Fried:
https://twitter.com/i/status/1591459357794918402worth a watch
That video explains a lot, as it turns out he was giving away a lot of money, it just wasn't his.
November 12, 2022, 04:09 PM
jsbcodySo 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
poonHunter and "The Big Guy" set up aka quid pro quo.
November 12, 2022, 04:35 PM
mrvmaxThe 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.
November 12, 2022, 04:57 PM
BBMWThe 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.
quote:
Originally posted by ScreamingCockatoo:
Crypto, a pyramid scheme but on a GRAND scale.
November 12, 2022, 05:07 PM
Balzé Halzéquote:
Originally posted by sdy:
video of Sam Bankster-Fried:
https://twitter.com/i/status/1591459357794918402worth a watch
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
November 12, 2022, 06:45 PM
Oregonquote:
quote:
Originally posted by PASig:
WTF? I really hope this isn’t what happened
quote:
BREAKING NEWS: UKRAINE "MILITARY AID" FROM USA --- WAS INVESTED IN CRYPTO "FTX" BY UKRAINE!
Hal Turner Radio Show
Hal Turner
11 November 2022
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
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"Why is it every time I need to get somewhere, we get waylaid by jackassery?"
-Dr. Thaddeus Venture