FTX – A Crypto Soap Opera

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  • #286815
    Vknid
    Moderator

      Wow, this rabbit hole runs deep.

      Key takeaways are that a huge crypto exchange filed for bankruptcy after becoming essentially insolvent.  At which point much wrongdoing was uncovered.  As irony would have it, they were also huge Democrat donors in the mid-terms.  As in second only to George Soros.

       

      #286825

      You did call this ahead of time on the other thread. Excellent timing. Borderline psychic.

      Is this guy gonna say Crypto.com is next? Bitboy was on Infowars yesterday talking about it.
      This case is up there with Lehman Brothers or Jon Corzine. Should be studied in business school along with all the other famous ripoffs.

      There are a bunch of memes about this. How a lot of taxpayer money in war aid to Ukraine was invested in this company and transferred right back to pols in terms of campaign donations.

      #286828

      Will this be the next dot-com bubble to burst?

      Will this finally make governments around the world (on the insistence of banks) to regular crypto currencies?

      Is it time for Bahamas to look at its business policies, of other governments looking at how they allow business to operate in the Bahamas (as it is getting a reputation of risky/unregulated businesses operating there), etc.

      FTX’s founder and CEO should be tried and found guilty for what they tried to CON the consumers, IMO.

      #286830

      Screenshot 2022-11-15 at 08-35-59 Fhf92rpWIAQXDof (JPEG Image 906 × 899 pixels)

      #286832

      #286833
      Vknid
      Moderator

        One interesting thing here is that the grift was working more or less.  I mean I guess it would have failed eventually, but as I understand it Binance is the one who tipped it over by causing a run on FTX withdrawals.  One has to wonder how long it was going to go on essentially laundering money otherwise.  And I think that is what is the major crime here.  They were using FTX to move large amounts of funding through to other organizations.  But at the end of the day it was a Ponzi scheme as well.

        It’s actually a super complex topic.  There were many levels of smoke and mirrors going on intentionally trying to fool everyone.  And it did.

        • This reply was modified 1 year, 6 months ago by Vknid.
        #286839

        Even worse than the scam itself is who was behind and how blatant it all looks in retrospect. It looks like a club and it appears they have contempt for the country. And now that we basically have a rigged, one party system, this is what the result is. This is also why foreigners may not understand how some of us act, because they may not know what it is like to live under this kind of economic ripoff domination where you are never going to get ahead.

        FTX makes the NBA look bad. FTX Arena is where the Miami Heat play.
        FTX makes Tom Brady look bad.
        FTX makes Kevin o’Leary look bad.
        FTX makes the SEC look bad, as Gary Gensler was too close.
        FTX makes M.I.T look corrupt.
        FTX makes Stanford look like crooked thieves.
        FTX was partners with the WEF, World Economic Forum.

        So, it looks like all the big stars, all the big jocks, all the big professors all teamed up to steal from the public. To loot the taxpayer. To steal to get political power, so that they hold all the money and pick who gets to go where and who gets to do business. But wait!! There’s more! If they did not get caught, they were working on a way to monopolize trading, which they may still be working on thru “regulation.”

        Tom Brady is shady. Where is his apology?
        O’Leary, where is your apology?

        #286845
        Vknid
        Moderator

          The way that guy was running this thing basically out in the open and with so many financial and legal “tricks” it’s as if he knew he was protected.  In fact I have not even heard a whisper of charges for this man or anyone else involved.  Wonder why that is (sarcasm).

          #286855

          And to think there are some honest people who don’t know where their next meal is coming from.

          #286922

          BlockFi falls.
          Genesis Global Capital halts all withdrawals

          How many crushed businesses from this FTX scam? I heard almost all of them.

          Would be a good debate between Mark Moss on 2nd video and Bitboy. Mark thinks it was a psyop to take control of it, and Bitboy does not. Dahboo thinks that Bitcoin was created by DARPA from the very beginning. CBDCs were always the goal, but I heard Nigeria blew off a centralized digital currency for Bitcoin.

          #287153

          Another great thread title. Soap Opera and in a Soap Opera, there are good actors and bad actors. SBF is a bad actor, but here is an interview with two good actors. Bitboy says when he started, he wanted it to be a cartoon or animation, so Bitboy was supposed to be that, but it was too much of a challenge and a lot of work, so he went more into the news direction. He should have done some Bitboy comics or Manga.

          Bitboy says he worked every job and that Blockbuster video taught him a few things about video. He says his best job was as a Rehab counselor helping people and working with people. He says he has a foundation that gives cars to single parents. In my opinion, that kind of charity work is what is missing from today’s narcissistic jocks and entertainers and CEOs and banksters. They have lost what it is to relate to their fellow American.

          #287155
          Vknid
          Moderator

            I am equal parts floored and not shocked this company is not being investigated.  I heard Ticket Master is under investigation within a few days of overcharging for Taylor Swift tickets but someone launders billions to a political party/foreign gov and crickets.

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