FTX Collapse

[Foxx]

I'll go out on a limb here and say this guys days are numbered

 

[Ann]

Uh huh

 

Sam Bankman-Fried’s Phone Call to His Parents: ‘There Might Be a Liquidity Issue’
The onetime crypto mogul also says he’s running out of funds, holed up in the Bahamas.

</snip>

 

As for other immediate personal fallout from the implosion of FTX, Mr. Bankman-Fried said he thought he had one working credit card and $100,000 left in the bank.

 

“I don’t have any hidden funds here,” he said.

 

</snip>
 

[Ann]

This Sequoia capital article has been scrubbed from the internet. Why is that?  

 

(Sequoia was a major backer of SBF, and they're liberals with all the right connections.)
 

[Ann]

Scrubbed by the WEF:

FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. It strives to develop a platform robust enough for professional trading firms and intuitive enough for first-time users.

[Ann]

My goodness it is shocking how much has been scrubbed about FTX:

 

Ukraine Partners With FTX, Everstake to Launch New Crypto Donation Website
FTX is converting crypto contributions to Ukraine’s war effort into fiat for deposit at the National Bank of Ukraine.
 

</snip>
 

[Ann]

Also scrubbed. Why is that again? 🤔

 

Ukraine's Ministry of Digital Transformation, FTX, and Everstake Launch Crypto Fundraising Site Aid For Ukraine
 

KYIV, Ukraine, March 14, 2022 /PRNewswire/ -- The official website for Aid For Ukraine, an initiative that raises funds from the crypto community for the benefit of Ukraine's military and humanitarian needs, has officially launched. The initiative is powered by the Ministry of Digital Transformation of Ukraine, FTX, and Everstake. This is the first instance of a cryptocurrency exchange providing a conduit for crypto donations to a public financial institution.
 

The launch of an official website enables users from around the world to have a simple way to make cryptocurrency donations to Ukraine. Anyone is now able to select the desirable amount in selected cryptocurrencies to donate, connect a wallet, and confirm a transaction within the same user-friendly interface.
 

</snip>

[Foxx]

About that interview yesterday...

 

Legal professionals astonished as SBF admits failures, apologizes 12 times in interview

 

At least three incriminating statements

 

[Ann]

The "msm" is desperately trying to bury this story. Musk is keeping it alive.

 

 

 

[Foxx]

I'm not a Cramer guy but kudos to him for going against the narrative here

 

[Ann]

Shesh  
 

 

[Foxx]

Spotted in NYC

 

Cutting a deal?

 

She gonna roll on her groupsex mate?

 

[Foxx]

Ummm... why does this scream, somethings off here?

 

[Koko]

3 hours ago, Foxx said:

Ummm... why does this scream, somethings off here?

 

 

Interesting, I wonder when this guy represented El Chapo.

 

I've had dealings with the attorney who represented Guzman through trial, Jeffrey Lichtman.

[Foxx]

The 'paid spokesman,' clown is changing his tune a bit now.

 

'Shark Tank' investor Kevin O'Leary says that he'll get his money back from FTX and that the exchange needs to be audited before Sam Bankman-Fried can be found guilty of wrongdoing

Quote

... "I've told all of my lawyers: Keep your phasers on stun until we have facts. Then we're going to get that money back," O'Leary said, later adding: "Who's going to jail? I have no idea. Who was fraudulent? I have no idea. But I will find out." ...

 

[Ann]

uh huh

 

[Ann]

FTX Founder Sam Bankman-Fried Is Said to Face Market Manipulation Inquiry

Federal prosecutors are investigating whether Sam Bankman-Fried and his hedge fund orchestrated trades in a way that led to the collapse of two cryptocurrencies in May.

 

Federal prosecutors are investigating whether FTX’s founder, Sam Bankman-Fried, manipulated the market for two cryptocurrencies this past spring, leading to their collapse and creating a domino effect that eventually caused the implosion of his own cryptocurrency exchange last month, according to two people with knowledge of the matter.
U.S. prosecutors in Manhattan are examining the possibility that Mr. Bankman-Fried steered the prices of two interlinked currencies, TerraUSD and Luna, to benefit the entities he controlled, including FTX and Alameda Research, a hedge fund he co-founded and owned, the people said.

The investigation is in its early stages, and it is not clear whether prosecutors have determined any wrongdoing by Mr. Bankman-Fried, or when they began looking at the TerraUSD and Luna trades. The matter is part of a broadening inquiry into the collapse of Mr. Bankman-Fried’s Bahamas-based cryptocurrency empire, and the potential misappropriation of billions of dollars in customer funds.

 

Federal prosecutors and the Securities and Exchange Commission have been examining whether FTX broke the law by transferring its customer funds to Alameda. Last month, a run on deposits exposed an $8 billion hole in the exchange’s accounts, causing the company to collapse. Mr. Bankman-Fried stepped down as FTX’s chief executive when the company filed for bankruptcy on Nov. 11.

FTX is also under investigation for violating U.S. money-laundering laws that require money transfer businesses to know who their customers are and flag any potentially illegal activity to law enforcement authorities, three people familiar with the investigation said. That investigation, first reported by Bloomberg News, began several months before the bankruptcy of FTX. Investigators are also looking into the activities of other offshore cryptocurrency trading platforms.

 

</snip>

[Foxx]

That's a lot of Margaritas

 

[Foxx]

Indictment is set to be unsealed Tuesday morning.

 

Took 'em &#%$ing long 'nuf.

 

Statement from the Bahamas

 

Image

[Foxx]

In and of itself, one would expect this. I believe all channels should be encrypted end-to-end.

 

That said, of course they did

 

[Foxx]

Just a hunch here but... SBF was probably finally arrested because he couldn't keep his big mouth shut and was probably going to implicate people they would rather keep out of the limelight. He is/was a marionette.

 

Samuel Bankman-Fried did not kill hisself.