It's done all the time across the field...He's one of many.
Posted on 11/12/2022 3:44:34 AM PST by C19fan
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, Reuters reports.
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.
(Excerpt) Read more at dailymail.co.uk ...
Never thought crypto was anything but a digital version of a chain letter. Looks like Bankman-Fried just Madoff with the funds.
It’s not currency. Only governments have the right to issue currency.
If “poof, it’s gone, just like that!”, then it wasn’t ever there in the first place.
“Crypto currency” is imaginary. It never exists. People imagine it to exist because of the high-tech-sounding name.
Unfortunately, “real” currency isn’t much better. The government brings it into existence by spending money that it doesn’t have. Government-issued money has no real value either, but is backed by “the full faith and credit of the US government.” (That last clause fools a lot of people)
Bttt
Hey. Buy electronic money ... get rich ... until you try to cash it in.
He gave a lot of money to the democrats. He will NOT be prosecuted. Prosecutions are reserved for anyone who opposes the dems’ stranglehold on power.
The money is stashed somewhere. “Hunter biden smith” account in the Bahamas, Switzerland, ???
Hey it was endorsed by the Kardashians, it’s gotta be ok, right?
It's done all the time across the field...He's one of many.
...And yet certain individuals do make a lot of money in these scams.....always those at the top of the pyramid.
I read that his jet was tracked going to argentina ...
Every. Single. Time.
A good friend of mine asked me this morning what was going on with this and if I could explain crypto coins. I replied using the exact analogy you just did with an air mass and subdividing it, based on agreement of everyone involved.
The NFT thing is HILARIOUS!
Wise counsel. I’ve “played” with computers since old Vic20 days. Not programming. But this crypto stuff never made sense. Nothing or tangible to it. Now pork bellies are real and have value. Lol
My problem with crypto currency is I never really understood what it was, or is. It’s possible to create semi-private currency by basing it on assets. An example would be somebody who opens a gold mine and sells bonds to help him further develop the mine. Those bonds can then be traded and become a form of virtual currency because they have solid backing. I could never figure out what the backing for crypto currency was other than a cloud of BS. I still don’t understand it today. Therefore, I have scrupulously stayed away from it.
That said, I looked into buying bitcoin when I first read of it nearly a decade back. $13 a bitcoin seemed too steep for me. Would I still have any left? Or would I have cashed out at $26?
Crypto is 100% safe!
I’ve heard so, many times.
“Or would I have cashed out at $26?”
as they say, you can never go broke taking a profit :-)
This is a democrat party money laundering operation!!
Now-Collapsed FTX Crypto Slush Fund Laundered Ukraine Donation Money to Democrat Candidates to Help Rig Midterms
https://americafirstreport.com/now-collapsed-ftx-crypto-slush-fund-laundered-ukraine-donation-money-to-democrat-candidates-to-help-rig-midterms/
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