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The Incredibly Stupid Catastrophe Caused by Sam Bankman-Fried and FTX
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| Nov 10, 20221:43 PM
| Alex Kirshner
Posted on 11/10/2022 2:37:54 PM PST by Zhang Fei
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An interesting sidelight of this implosion is the fact that SBF and his lieutenant, Ryan Salame, were (according to Bloomberg) the
two biggest individual donors to the Democrats and GOP respectively in 2022.
1
posted on
11/10/2022 2:37:54 PM PST
by
Zhang Fei
To: Zhang Fei
“The Incredibly Stupid Catastrophe Caused by Sam Bankman-Fried and FTX”
Translation, CRAP! tens of millions of future RAT campaign donations just went down the drain.
2
posted on
11/10/2022 2:40:23 PM PST
by
DAC21
To: Zhang Fei; Chode
I wonder how much money Lewis Hamilton has wrapped up in FTX?
To: Zhang Fei
Wait, these guys (and their followers) are supposed to be the smart ones, while the bankers are the totally dumb ones.
4
posted on
11/10/2022 2:43:15 PM PST
by
SaxxonWoods
(The only way to secure your own future is to create it yourself.)
To: ImJustAnotherOkie
5
posted on
11/10/2022 2:45:57 PM PST
by
Chode
(there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
To: ImJustAnotherOkie
their logo is already scrapped from everything...
6
posted on
11/10/2022 2:46:57 PM PST
by
Chode
(there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
To: Chode
You stole my post! :)
F Lewis Hamilton.
7
posted on
11/10/2022 2:52:48 PM PST
by
EEGator
To: EEGator
8
posted on
11/10/2022 2:54:49 PM PST
by
Chode
(there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
To: EEGator
9
posted on
11/10/2022 2:55:46 PM PST
by
Chode
(there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
To: Zhang Fei
Sam will be known from now on as ‘Bankman Gotfried’.
10
posted on
11/10/2022 2:56:00 PM PST
by
SaxxonWoods
(The only way to secure your own future is to create it yourself.)
To: Zhang Fei
And I was just sure this fake currency startup would make a go of it 😏
11
posted on
11/10/2022 2:56:11 PM PST
by
NWFree
(Somebody has to say it 🤪)
To: Chode
12
posted on
11/10/2022 2:56:41 PM PST
by
EEGator
To: Chode
I hope FTX is current with them /s/
To: ImJustAnotherOkie
14
posted on
11/10/2022 3:00:32 PM PST
by
Chode
(there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
To: SaxxonWoods
Guys like Jamie Dimon have been in banking for forty years - they have seen this all before.
To: Zhang Fei
Be like Larry... get your cash upfront.
16
posted on
11/10/2022 3:13:47 PM PST
by
glorgau
To: Zhang Fei
17
posted on
11/10/2022 3:15:32 PM PST
by
Chode
(there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
To: ImJustAnotherOkie
18
posted on
11/10/2022 3:26:13 PM PST
by
Theoria
To: ImJustAnotherOkie
On Kudlow’s show today Charles Payne said he heard Tom Brady and his ex-wife had their fortune in FTX.
19
posted on
11/10/2022 3:31:20 PM PST
by
ChuckHam
To: Theoria
I retired (actually now help manage an NGO without pay) after the crypto boom in 2017. Some old co-workers who got into crypto after my bombshell early retirement still ask my opinion on investing in crypto. The answer here is simple and same as it's always been: Not your keys, not your crypto. Keeping money in someone else's hands is inherently risky (as crypto or anything else).
All an exchange needs to do is securely hold customers funds while making money off their trading fees. And yet so many exchanges get greedy and treat customer funds like Ferris Bueller treated his friends' dads sports car. When will people learn?
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