You buy crypto or a toaster oven at a garage sale from this wild haired clown who went to MIT.... You are a fool. Though with that used toaster oven you are only out $10 or so.
Posted on 11/11/2022 11:43:22 PM PST by dennisw
$2BN of clients' money is MISSING from collapsed crypto exchange FTX: Founder Sam Bankman-Fried 'secretly transferred $10BN to trading company Alameda Research run by his girlfriend'
FTX founder Sam Bankman-Fried allegedly shuffled $10billion in funds to his trading firm Alameda Research, with about $2billion now missing
Sources said that the CEO showed spreadsheets revealing the missing funds from FTX, which along with Alameda declared bankruptcy
Bankman-Fried denied making the secret transfers to his crypto trading firm, which is run by his girlfriend, Caroline Ellison He declined to comment about the missing funds and said his firm had 'confusing internal labeling' The SEC, which has been criticized for not acting sooner, is investigating FTX's handling of customer funds, as well its crypto-lending activities
About $2billion of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter.
Founder and CEO Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to the trading company Alameda Research, which is run by his girlfriend Caroline Ellison, the people told Reuters.
A large portion of that total has since disappeared, they said. One source put the missing amount at about $1.7 billion. The other said the gap was between $1 billion and $2 billion.
While it is known that FTX moved customer funds to Alameda, the missing funds are reported here for the first time.
The financial hole was revealed in records that Bankman-Fried shared with other senior executives last Sunday, according to the two sources.
The records provided an up-to-date account of the situation at the time, they said. Both sources held senior FTX positions until this week and said they were briefed on the company's finances by top staff.
Bahamas-based FTX filed for bankruptcy on Friday after a rush of customer withdrawals earlier this week.
(Excerpt) Read more at dailymail.co.uk ...
Bernie Madoff rolled over in his grave....
You buy crypto or a toaster oven at a garage sale from this wild haired clown who went to MIT.... You are a fool. Though with that used toaster oven you are only out $10 or so.
Pretty certain our Constitution defines our legal tender as only gold and silver.
Crypto is not listed, it’s even less genuine than Fed. Reserve notes.
At least worthless paper can be burned for warmth.
I suspect it doesn’t matter who you buy from or what crypto you choose because all of these are scams.
Financial criminals should be treated like murderers — at least 25 to life. And no country club federal prison. Send them to maximum security, and have them share a cell with a Crip or a Blood.
Second-biggest contributor to the Democrats, too.
Will that fact buy him immunity from prosecution?
Probably.
New twist from Coin Desk =>
FTX Faces Potential Hack, Sees Mysterious Outflows Totaling More than $600M
FTX officials appeared to confirm rumors of a hack on Telegram, instructing users to delete FTX apps and avoid its website.
Nov 11, 2022 at 11:20 p.m. EST
Updated Nov 12, 2022 at 2:54 a.m. EST
It would not surprise me if the globalists had a backdoor to every financial app so they can one button impoverish everybody.
Idiots bought in to all this garbage.
Steve Lookner at Agenda-Fee TV live report on the possible hack =>
https://www.youtube.com/watch?v=jhRYF0FPfdI
Total transparency - but, no one noticed $10 billion dollars being transferred to another trading firm?
It will be interesting to see if there are criminal statutes that apply to the way he managed client crypto money.
Civil liability, for certain, but no one is going to burn up real money by suing a flat broke 30 year old kid!
So, this is astonishing, an unregulated pretend currency that has no real world basis can just evaporate overnight?
My real surprise is that anyone takes it seriously. However, a lot of people play the lottery too, where the proposition is give us your money and we might one day give it back with interest although that’s only one in ten thousand people, so don’t hold your breath.
‘El Salvador Loses BIG On Bitcoin Gamble’
https://www.youtube.com/watch?v=8RJ6oOlDeNU
“it ain’t missing, it’s stolen, probably ported to the dumbocraps in exchange for a plea deal
“
The 30-year-old Bankman-Fried has been a major force in Democratic politics, ranking as the party’s second-biggest individual donor in the 2021–2022 election cycle, according to Open Secrets, with donations totaling $39.8 million. That ranks only behind George Soros (about $128 million) but ahead of many other big names, including Michael Bloomberg ($28.3 million). What’s more, he had promised to spend far more on Democrats moving forward, predicting in May that he’d fund “north of $100 million” and had a “soft ceiling” of $1 billion for the 2024 elections.
On Tuesday his net worth fell from $15.6 billion to potentially below $1 billion, which Bloomberg called the biggest one-day collapse it had ever seen among billionaires. Rumors are now flying in the cryptosphere that he may even go bankrupt.
His next venture will be the Dutch tulip market.
The Dutch tulip bulb market bubble
https://www.investopedia.com/terms/d/dutch_tulip_bulb_market_bubble.asp
The Dutch tulip bulb market bubble, also known as tulipmania, was one of the most famous market bubbles and crashes of all time. It occurred in Holland during the early to mid-1600s, when speculation drove the value of tulip bulbs to extremes. At the market’s peak, the rarest tulip bulbs traded for as much as six times the average person’s annual salary.
I’ve read a substantial amount of digital currency went to the Ukraine
Interesting observation by Musk (from a CoinDesk article):
““To be honest, I’d never heard of him,” Musk said. “But then I got a ton of people telling me [that] he’s got, you know, huge amounts of money that he wants to invest in the Twitter deal. And I talked to him for about half an hour. And I know my bullshit meter was redlining. It was like, this dude is bullshit – that was my impression.”
“Then I was like, man, everyone including major investment banks – everyone was talking about him like he’s walking on water and has a zillion dollars. And that [was] not my impression…that dude is just – there’s something wrong, and he does not have capital, and he will not come through. That was my prediction,” Musk added.
Musk also told listeners that they should keep their crypto in cold wallets, not in exchanges.
“I would reaffirm that, if you have crypto, you should have it in a directly-accessible cold wallet. Not in an exchange,” Musk said. “That would be wise.”
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