I read on Tik Tok last night that Tom and Giselle put $650,000,000 into that thing this August.

 

I doubt it was that much. But I do knew there were high profile investors, Kevin O'Leary, who have access to the best teams for due diligence on this earth. Win lose or draw, he s very smart investor. Im betting theres so much more to this story than just an insolvent exchange.

 

The great Ponzi scheme is exposed again...

 

When the guys last name has Bankman, and Fried in it that might be a sign.....

 

^^^ lol

so true


When a guy's last name is Madeoff that's also a clue

Or was it spelled Madoff ?

 

SBF tried to play out Binance. Kharma got his ass. Binance caught a whiff of insolvency. They dropped all their FTT tokens and created a "run at the bank". The strange part is they announced on social media. They really wanted to sink FTX and SBF quick fast and in a hurry. SBF is the youngest billionaire in the world, and that wasnt enough...he should be serving jail time! I dropped some loot in this morning. Bought the heck out of the dip! Just gotta sit back n wait now. Its funny how fragile the entire space is. Wanna know what bitcoin had to do with ftx? Nothing! Same with every single coin that crashed today with the exception of FTT. Very very fragile investors. SEC defly bringn some regulation in soon to these exchanges. I m currently staking some of my Etherium and Solana on Kraken. Everything else should be in cold storage like a wallet or ledger. Defly risky earning yield. Self custody is highly advised. 5%-7% returns tho. Great time to buy if you re into this space. If not, I totally get why some people wont touch it with a 10ft pole. Its brutally volatile.

 

$650m is the duos' net worth at the time they got involved with FTX. No one seems certain how much they put in exactly.

 

He also donated like $40M to Democrats this election cycle....wonder when the investigation starts??? I'll answer for you, never.

 

Another crooked ass m'fer with ties to the Democrats....Stunning.

 

I hope he goes to prison. He's trying to be George Soros Jr, and the world doesn't need 2 people like that.

 

FTX has filed for Chapter 11 Bankruptcy. Sam the Sham resigns as CEO.

Que up Wipeout music.

 

These exchanges getting washed out is almost a good thing. With the exception of people losing their deposits of course. The community/asset class as a whole is learning n growing. The early people take on all the risk in an effort to gain the most. The space is growing...adoption is growing...sec is gunna bring regulation to protect depositors...its the wild west right now. And its gunna be for awhile. Investing is a blood sport. Do not put in what you re not willing to lose. I try and stay away from 99% of the tokens out there. They are .com start ups. Venture capitalism!

 

Pretty good article on FTX and wonder-boi.

You Can Forget About Crypto Now

The industry’s latest meltdown is not like all the rest.

www.theatlantic.com

 

And even more bizarre info .....

FTX founder Bankman-Fried, tee-total vegan who sleeps 4 hours a night

For a one-time crypto billionaire who rubs shoulders with A-listers from Tom Brady to Bill Clinton, departing FTX chief Sam Bankman-Fried leads an unassuming lifestyle.

www.dailymail.co.uk

 

FTX hacked ? Insiders trying to get their money ?

Breaking: FTX exchange and FTX US allegedly hacked, uninstall app to protect against malware

This is a developing story. Watch this space for more updates.

www.fxstreet.com

 

Hundreds of Millions of Dollars Drained From FTX Overnight in 'Unauthorized' Transfers

https://www.yahoo.com/finance/news/hundreds-millions-dollars-drained-ftx-133219541.html

 

FTX's crypto empire was reportedly run by a bunch of roommates in the Bahamas who dated each other, according to the news site that helped trigger the company's sudden collapse

https://www.yahoo.com/finance/news/ftxs-crypto-empire-reportedly-run-184555572.html

 

$2BN of clients' money is MISSING from collapsed crypto exchange FTX

FTX founder Sam Bankman-Fried allegedly shuffled $10billion in funds to his trading firm Alameda Research, with about $2billion now missing as both companies filed for bankruptcy.

www.dailymail.co.uk

 

Cant wait to see how this pans out. The contagion isnt over. Im trying to move some cash around to buy the incoming dip(s).

 

 

FTX worth $16 billion to zero overnight. Damn!

 

 

Another piece of the "financial circle jerk" of foreign aid falls into place.

 

LMAO.....^^^^^

 

Sam the Sham hinted at spending up to 1 Billion dollars to stop Trump in 2024.

 

Thankfully it wasnt none of my money. Never trust a democrat! Especially an outspoken titan of the industry type.

 

Funny thing is, this is no different than our current financial system. Make a run at the bank right now for ALL your cash. 95% of you s will be SOL. They are ALL insolvent. Propped up by the good word of the federal government.
Im hopeful this is a cleansing of the crypto space and we can move forward from here on out with some confidence and of course, necessary regulation. Im really only long term on bitcoin. Decentralized! Everything else is susceptible to humans and their bs. I do not believe this is "tulip mania" as we are 12yrs+ into a growing industry. The blockchain technology is real, Defi is real, future of finance and money going digital is real, etc. The path to it all is seemingly bumpy af. The early birds take the biggest risks to potentially gain the biggest rewards. By the time we reach 30% adoption rate, a lot of this kinda bs will be ironed out. Hopefully by than, the populous will stop chasing 10,000% returns on stupid meme coins while a celebrity tweets about them while on the shitter. Its maddening. 10,000% ROIs are reserved for big pharma only!!! Lol.
Buy the rumor, sell the news

 

^ it's the full faith and confidence in something that 99% of us don't understand that'll be its demise.
Oh, that and crooks.
Call something "impossible" and they'll come out of the woodwork. Once one of them is successful in snatching a big investor completely, the whole thing will crumble. Given enough incentive, nothing is impossible, even something as foolproof as digital currency. Nothing.
Biggest problem most are dealing with now is fraud and the lack of understanding fuels this. Just like dollars, counterfeits will screw a lot of people.
I figure I'll only be around for another 20 years or so, fuck it, I'm too old to invest in smoke and mirrors.

 

Very fair statement.

 

 

Watch that video. It nails some interesting points. Points that I hate to acknowledge too. Nothing is ever a coincidence, thats for sure.