Caroline Ellison, Former CEO of Alameda Research

video at link:

https://twitter.com/i/status/1591137605613408256


she was a running a firm that controlled $ 10 billion of other people's crypto money (but the "other people" did not know that)

As best I understand it, FTX is a cryptocurrency exchange. People put cryptocurrency into FTX and for a fee, they can move that into other cryptocurrencies.

In the FTX user agreement, it says the assets belong to the customers, and they will not be used by FTX

But FTX moved billions into Alameda for Ellison to play with.

When customers asked for their funds, there was a pause on FTX withdrawals. This triggered a big red flag. If FTX was not using the funds, they should have been available.

"As best I understand it""

As demands for liquidity persist, the missing crypto (collapse) will spread to other asset classes. Add in the Fed decision next week…

Many people are gullible, and we can expect this to continue. P. T. Barnum.

There is a fool born every minute. P. T. Barnum

quote:

Originally posted by Oregon:
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

Like everyone else, they're just saying whatever they want in order to generate outrage and drive clicks/shares.

Truth, facts, and evidence don't matter any more. It's all about eliciting kneejerk emotional responses, and doing whatever it takes to be viral/trending.

own some cryto Rogue?

Not one bit.

quote:

Originally posted by RogueJSK:
Not one bit.

Good!

Pretty much explains SBF:
https://youtu.be/skhA8n8iRCc?t=1

https://fortune.com/2022/11/11...ll-dated-each-other/

Sam Bankman-Fried’s crypto empire ‘was run by a gang of kids in the Bahamas’ who all dated each other

“Shocking” is a word that aptly describes the rapid fall of Sam Bankman-Fried’s cryptocurrency empire. To a surprising degree, it’s a sentiment that pours out from people who worked for him, people who you’d think would’ve had a clue.

How can that be? It may have something to do with a luxury penthouse in the Bahamas. That’s where 30-year-old Bankman-Fried is roommates with the inner circle who ran his now-struggling crypto exchange FTX and trading giant Alameda Research.

Many are former co-workers from quantitative trading firm Jane Street, others he met at the Massachusetts Institute of Technology, his alma mater. All 10 are, or used to be, paired up in romantic relationships with each other. That includes Alameda CEO Caroline Ellison, whose firm played a central role in the company’s collapse – and who, at times, has dated Bankman-Fried, according to people familiar with the matter.

Among his nine housemates are FTX co-founder and Chief Technology Officer Gary Wang, FTX Director of Engineering Nishad Singh and Ellison of Alameda, Bankman-Fried’s trading business that’s at the center of the current chaos and on which the Wall Street Journal reported got $10 billion of FTX customer money. The remaining six are also FTX employees.

Wang, Singh and Ellison also comprise the board of Bankman-Fried’s FTX Foundation, the philanthropic arm of the company. Several housemates, including Bankman-Fried and Ellison, are active participants in effective altruism, a movement that “aims to find the best ways to help others,” possibly through philanthropy.

“Some employees kept their life savings on FTX,” the second anonymous employee told CoinDesk. “We trusted that everything was fine.”

Sounds about right

quote:

Crypto-dude Sam Bankman-Fried’s fraudulent company received a higher ESG score on “Leadership & Governance” than did Exxon Mobil. This is of course predictable: SBF donated $30mm+ to Democrats & called for greater regulation. He’s one of the “good guys.” That’s ESG in a nutshell.

Link

quote:

Originally posted by RogueJSK:
Not one bit.

I see what you did there.

quote:

One can have their own private electronic vault, but I seriously worry about the gizmo failing and the value disappearing.

If the gizmo fails, you can get another gizmo and recover access to your wallet. The gizmo itself doesn't hold the crypto. It is only an encrypted method of accessing the crypto wallet.

Ulsterman, is that you in the meme right above your post?

Even in these modern times, I think there’s still a requirement for common sense.

What are the Asian chicks on the dating sites going to peddle now?!

My assistant has withdrawn his month long vacation to Vietnam request.

Everything he has in in the red as he sits and watches it plummet day after day.

He lost a shit ton in Bitcoin. I remember when he had over $300,000 invested and he was sure he was going to pay cash for a house he had just bought.

I do believe he's down to around $25K.

Ouch, I remember there were some here playing up the bitcon con. Hope they did not get the snake bit.

One guy mentioned a scam with bitcoin investing where they set you up with a trading account then gave some artificial trades, much to your benefit.

After one did a few, it was time for bigger money. Once the bigger $$ was ‘invested’, trades turned sour.

No free lunch, & if it sounds to good to be true, come to mind.

quote:

Originally posted by old rugged cross:
Ouch, I remember there were some here playing up the bitcon con. Hope they did not get the snake bit.

“Con” seems so judgy.

Looking at their pictures, I'm guessing most of them will be working at Starbucks next week.