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Beleaguered cryptocurrency exchange FTX may have more than 1 million creditors, according to a new bankruptcy filing, hinting at the huge impact of its collapse on crypto traders. Last week, when it filed for Chapter 11 bankruptcy protection, FTX indicated that it had more than 100,000 creditors with claims in the case. But in an updated filing Tuesday, lawyers for the company said: “In fact, there could be more than one million creditors in these Chapter 11 Cases.” Typically in such cases, debtors are required to provide a list of the names and addresses of the top 20 unsecured creditors,...

The US is an inflation nation under Beijing Biden. Today, the PPI Final Demand YoY index printed for October was still agonizingly high at 8% YoY (The Fed likes to see 2% for inflation). True, PPI Final Demand YoY is down from its recent peak of 11.7% YoY in March. But notice that M2 Money YoY (liquidity) has collapsed following the Covid surge (green line). Then I have this update on Sam Bankman-Fried of FTX and Alameda Research notoriety. As Sam Bankman-Fried’s crypto empire imploded last week, costing him effectively all of his $15.6 billion fortune, other digital-asset billionaires sought...

Peter Strzok’s wife - an Appointee - is at the Top of the SEC Enforcement Division. Melissa Hodgman. They are still married, and she’s as Activist as her husband. And the Crypto Assets and Cyber Unit is directly under her. All the Crypto Crimes were allowed to go until the day after the Election.

FTX filed for bankruptcy last week, but the cryptocurrency exchange’s founder still thinks that he can raise enough money to make users whole, according to people familiar with the matter. Mr. Bankman-Fried, alongside a few remaining employees, spent the past weekend calling around in search of commitments from investors to plug a shortfall of up to $8 billion in the hopes of repaying FTX’s customers, the people said. The efforts to cover that shortfall have so far been unsuccessful. The Wall Street Journal couldn’t determine what Mr. Bankman-Fried is offering in return for any potential cash infusion, or whether any...

The CEO of now-bankrupt FTX admitted that FTX was nothing more than a laundromat for the Ukrainian government. TGP reported earlier that the now-bankrupt FTX was transferring money to Ukraine and then laundering money back from Ukraine to the Democrat party. FTX CEO Sam Bankman-Fried donated $38 million to Democrats this year. Mitch McConnell took funding from FTX for his Senate Leadership Fund.

This is bigger than Bernie Madoff, but unlike Bernie Madoff, who was getting rich off a Ponzi scheme, the Democratic Party was getting rich off of FTX. FTX came onto the scene in 2019, and it spent $10 million to put Joe Biden in the White House in 2020. And the guy running FTX, the second-biggest Democrat donor in the midterms after Soros, of course, spent $40 million to get Democrats elected.

Former billionaire Sam Bankman-Fried, founder of cryptocurrency exchange company FTX, funneled millions of dollars to Democratic campaigns, becoming one the party's largest donors, second only to George Soros. Bankman-Fried donated nearly $127 million during the midterm cycle, according to Federal Election Commission data. His company also reportedly set up a website, Aid for Ukraine, to raise funds for Ukrainians amid the ongoing war against Russia. The initiative was powered by the Ministry of Digital Transformation of Ukraine, FTX and Ukrainian-web company Everstake. Cryptocurrency donations were sent to the National Bank of Ukraine. The 30-year-old crypto financier wrote on Twitter in...

VIDEOThe World Economic Forum has been furiously scrubbing its website of any reference to FTX with which it was closely associated before the yuuuuge crypto financial scandal hit involving Sam the Scam Bankman-Fried. However, I managed to grab these clips of Anthony Scaramucci hyping FTX before the WEF had a chance to scrub it.

Despite the scrutiny of crypto by Gensler, the SEC missed on FTX Gary Gensler’s controversial tenure as chairman of the Securities and Exchange Commission could reach peak drama over a 45-minute Zoom call with Sam Bankman-Fried, the former crypto wunderkind at the center of the largest debacle the $1 trillion digital coin industry has ever witnessed.On March 23, some eight months before Bankman-Fried’s crypto empire collapsed and was forced into bankruptcy, Gensler granted what some crypto players are calling an unusual meeting to the then-billionaire and prolific fundraiser for Democratic candidates, including his boss, President Joe Biden.Even before the FTX...

Nassau, Bahamas — FTX founder Sam Bankman-Fried has put his Bahamas penthouse up for sale for about $40 million after he lost billions in net worth amid the collapse of his crypto exchange. A real estate broker for the 12,000-square feet, five-bedroom residence in the luxury Albany resort said Monday the penthouse was put up for sale in the last week but declined to name the owner. People close to current and former FTX employees who have been at the residence confirmed it is Bankman-Fried’s place. He and other senior colleagues at FTX live and work in the penthouse, which...

Amid all the jubilation and gloating by Joe Biden, Chuck Schumer and pals over the Democrats’ better-than-expected showing in the midterms comes a disturbing story that may explain something about how they won such a curious election. Biden’s second-biggest donor, cryptocurrency billionaire wunderkind Sam Bankman-Fried, a k a SBF, saw his business file for bankruptcy days after the election, but not before pumping $40 million into the Democratic Party to spend on “get-out-the-vote” and other shadowy ballot-harvesting mechanics for the midterms. The shambolic 30-year-old whiz kid, once said to have been worth $16 billion, had spent $10 million helping get...

Now that it is official that the US is a failed state (for failing to do anything about election fraud in either the 2020 election or 2022 midterms much like Venezuela), we need to look at asset classes out of the reach of The Federal Reserve and Federal regulation … for the moment. Major cryptocurrencies erased losses and turned higher after Binance Holdings Ltd.’s Chief Executive Officer Changpeng Zhao said the world’s largest digital-asset exchange plans to set up an industry recovery fund. Zhao said Monday the goal was to “reduce further cascading negative effects” of the bankruptcy of rival...

As FTX Digital Markets (FDM) chief Sam Bankman-Fried rang out a mea culpa chorus peppered with expletives to his followers, clients and investors through Twitter yesterday, the Securities Commission of The Bahamas (SCB) froze his company’s assets and appointed a provisional liquidator for the embattled FTX now making international headlines. The SCB released a statement late yesterday explaining that it became aware of public statements suggesting that the Bahamas-headquartered FTX mishandled client assets and “mismanaged and/or transferred (assets) to Alameda Research”, which is FTX’s supposed “sister” company in the United States. It said any of those actions would have been...

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.

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Ukraine invested into FTX as the Biden administration funneled funds to the invaded nation, and FTX then made massive donations to Democrats in the US.

Like the disastrous Bernie Madoff debacle where investors lost millions of dollars, Sam Bankman-Fried has apparently cost investors like Steph Curry, Shaq and Tom Brady considerable sums as well. What do Bernie Madoff and Sam Bankman-Fried have in common? Greedy investors who apparently didn’t bother to monitor what was going on. Yes, had they monitored FTX, Bankman-Fried’s company, they would have noticed that FTX held less than $1bn in liquid assets against $9bn in liabilities. Generally, with buyer beware, the onus falls on investors to monitor what is going on. But The Fed’s completely dropped the ball on Bernie Madoff...

A brilliant young cryptocurrency pioneer named Nikolai Mushegian tweeted on Oct. 28 that intelligence agencies were going to murder him — and was found dead on a Puerto Rico beach hours later. “CIA and Mossad and pedo elite are running some kind of sex trafficking entrapment blackmail ring out of Puerto Rico and Caribbean islands,” Mushegian, a developer of blockchain-based decentralized finance platforms who wanted to end global banking corruption, tweeted at 4:57 a.m. “They are going to frame me with a laptop planted by my ex [girlfriend] who was a spy. They will torture me to death.” The 29-year-old...

Sam Bankman-Fried, the former CEO of the collapsing cryptocurrency company FTX, along with two others associated with the company, director of engineering Nishad Singh and co-founder Gary Wang, are "under supervision" in the Bahamas after the trio reportedly were planning on fleeing to Dubai. According to Cointelegraph, "Right now three of them, Sam, Gary, and Nishad are under supervision in the Bahamas, which means it will be hard for them to leave."

The “crypto winter” that hit earlier this year walloped digital asset prices and served as a healthy reminder that cryptocurrencies are highly risky, volatile investments. But now, in the wake of crypto exchange FTX’s implosion, crypto investors were reminded of another risk they face: Crypto accounts lack guaranteed protections when the exchange or platform provider goes belly up. Traditional savings and investment accounts can never be 100% safe in the event an institution becomes insolvent, either. But most banks and brokerages, as well as 401(k) plans, do provide federally guaranteed protections and other insurance. Crypto custodial accounts, however, do not...