Oh dear. Behind those big puppy dog eyes, Bankman-Fried had one goal in mind: lining the pockets of his liberal self and his Democrat friends. He stole from FTX customers and sponsors, laundering money to the Democrats via culpable Ukraine. Now Bankman-Fried is trying to escape extradition by escaping to Dubai.
“Oh dear. Behind those big puppy dog eyes, Bankman-Fried had one goal in mind: lining the pockets of his liberal self and his Democrat friends. He stole from FTX customers and sponsors”
1- IMO, Bankman-Fried does not have “puppy-dog eyes.” He appears totally untrustworthy & acts delusional. When I first met Chuck Schumer, I felt the same way: TOTAL fraudster.
2- Absolutely. U.S. Gov’t gave Ukraine money. Bankman-Fried NEEDED easy Ukrainian money to financially buttress his criminal ponzi scheme.
3- Ukraine was victimized to believe that profits came from legitimate business activity (i.e.other successful investments) totally remaining unaware that other investors were actually the source of their own investment.
The Ponzi scheme using U.S. money given to Ukraine created the illusion of a sustainable investment business as long as new investors continueed to contribute new funds.
Ukraine like most investors did not demand full repayment however still believed in the Ponzi non-existent assets they were suppose to own.
I believe I would have react the same way Bamkman-Fried Musk did:
ELON MUSK: SAM BANKMAN-FRIED ‘SET OFF MY BS DETECTOR’ WHEN HE APPROCHED ABOUT TWITTER INVESTMENT
After the epic collapse of Sam Bankman-Fried’s entire crypto empire this week, even Elon Musk took a moment from his extremely chaotic week at the helm of Twitter to declare that he never trusted SBF, who stepped down as CEO of FTX on Friday when the company filed for Chapter 11 bankruptcy.
Bankman-Fried reached out to Musk back in March through their intermediaries (in SBF’s case it was William MacAskill from FTX’s Future Fund philanthropic arm, which shut down on Friday) to express his interest in investing in Musk’s bid for Twitter. That news came out in September when Musk’s text messages leaked through a legal proceeding.
Musk’s banker on the Twitter deal, Michael Grimes from Morgan Stanley, told Musk at the time that SBF was offering “at least $3 billion” to help Musk buy Twitter, and wanted to talk about the potential for “social media blockchain integration.”
Musk asked Grimes, “Does Sam actually have $3B liquid?”
Daniel Roberts
Fri, November 11, 2022
After the epic collapse of Sam Bankman-Fried’s entire crypto empire this week, even Elon Musk took a moment from his extremely chaotic week at the helm of Twitter to declare that he never trusted SBF, who stepped down as CEO of FTX on Friday when the company filed for Chapter 11 bankruptcy.
Bankman-Fried reached out to Musk back in March through their intermediaries (in SBF’s case it was William MacAskill from FTX’s Future Fund philanthropic arm, which shut down on Friday) to express his interest in investing in Musk’s bid for Twitter. That news came out in September when Musk’s text messages leaked through a legal proceeding.
Musk’s banker on the Twitter deal, Michael Grimes from Morgan Stanley, told Musk at the time that SBF was offering “at least $3 billion” to help Musk buy Twitter, and wanted to talk about the potential for “social media blockchain integration.”
Musk asked Grimes, “DOES Sam actually have $3B liquid?”
On Friday night, as Crypto Twitter continued to have a field day re-circulating recent history involving SBF, a popular account that shares internal tech industry emails tweeted out the exchange again. Musk replied, “Accurate. He set off my bs detector, which is why I did not think he had $3B.”
On Friday night, as Crypto Twitter continued to have a field day re-circulating recent history involving SBF, a popular account that shares internal tech industry emails tweeted out the exchange again. Musk replied, “Accurate. He set off my bs detector, which is why I did not think he had $3B.”
Grimes had talked up Bankman-Fried’s offer to Musk, texting, “He’s into you... I do believe you will like him. Ultra genius and doer builder like your formula. Built FTX from scratch after MIT physics.”
Bankman-Fried was interested in helping to engineer a blockchain version of Twitter. Musk, despite being a crypto advocate, shot that proposal down, telling Grimes matter-of-factly, “Blockchain twitter isn’t possible.” He added he would only meet with SBF “so long as I don’t have to have a laborious blockchain debate.”
Grimes told Musk that even absent the blockchain component, Bankman-Fried wanted to invest. Musk passed.
Of course, in light of the financial malfeasance behind the scenes at FTX—which was using customer funds and its own FTT token to prop up SBF’s hedge fund Alameda—everyone is eager to distance themselves from the stench.
On October 27, Musk took control of Twitter.
The next two weeks saw FTX go up in flames after Changpeng “CZ” Zhao, CEO of rival exchange Binance, announced his company would liquidate its holdings of FTX’s FTT token. That tanked the price of FTT and prompted $5 billion of customer withdrawals from FTX, which didn’t have the liquidity to cover.
Musk, even through the public mess of Twitter’s fake account crisis this week, certainly had a better week than Bankman-Fried.
https://finance.yahoo.com/news/elon-musk-sam-bankman-fried-043720906.html