they just arrived. If they cross the yard they can find a good law firm, they will need it.Btw FTX headquarters is here in the Bahamas it seems which is bad news .
I wonder if these kids even know about Madoff. He was the master.
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they just arrived. If they cross the yard they can find a good law firm, they will need it.Btw FTX headquarters is here in the Bahamas it seems which is bad news .
He was also heavy into politics and lobbying e.g. donating to the Dem partyFTX US says it may halt trading in a few days
LOL
Seems situation is worst than we thought .......This sam guy is immature or Fraud No.1......Sometime back I watch his interview where he mention he want to donate his entire Networth......and behind curtain he is doing this type of shady things with alameda.....really very shady fellow.....If he is not after money and want to do something for humanity ....why he doing trading with customer funds ??? It is very hard to believe any famous person word
Source :FTFTX Tapped Into Customer Accounts to Fund Risky Bets
FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall
Crypto exchange FTX lent billions of dollars worth of customer assets to fund bets by its affiliated trading firm, Alameda Research, setting the stage for the exchange’s implosion, a person familiar with the matter said.www.wsj.com
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Crypto exchange FTX lent billions of dollars worth of customer assets to fund risky bets by its affiliated trading firm, Alameda Research, setting the stage for the exchange’s implosion, a person familiar with the matter said.
FTX Chief Executive Sam Bankman-Fried said in investor meetings this week that Alameda owes FTX about $10 billion, people familiar with the matter said. FTX extended loans to Alameda using money that customers had deposited on the exchange for trading purposes, a decision that Mr. Bankman-Fried described as a poor judgment call, one of the people said.
---- quote end
Btw FTX headquarters is here in the Bahamas it seems which is bad news .
Just a taste of reality in the fantastic perfect cripto worldContagion effect party
I wonder how many more exchanges and scams will fail in the next few days...
Crypto Lender BlockFi Suspends Withdrawals in FTX Contagion
The crisis sparked by the collapse of Sam Bankman-Fried’s FTX crypto empire ensnared BlockFi, a troubled digital-asset lender once worth $3 billion but which has now limited activity on its platform.www.bloomberg.com
The Bahamas regulators
And thus kill Deltec, the largest bank in the Bahamas?should tell USDT to find banking outside the island asap.
So you don’t like bungalows?People blindly believe in USDT and they offer no audited financials yet - just excuses after excuses . I drove past their bank here in Bahamas (Deltec Bank) btw. You can read about it in below thread.
We had our fair share of exchange about this, but since you bring it up I also feel free to repeat my points. I am not endorsing USDT, currently do not hold any (only form of safe fiat in my view is usd in cash bills).FTX CEO does not even give damn about his own hair so how is he gonna give a damn about customer assets. The Bahamas regulators indeed have frozen the assets here and rightly so.
USDT is no better. The Bahamas regulators should tell USDT to find banking outside the island asap. People blindly believe in USDT and they offer no audited financials yet - just excuses after excuses . I drove past their bank here in Bahamas (Deltec Bank) btw. You can read about it in below thread.
Deltec Bank
Post of @JohnnyDoe reminded me of this and I didn't want to spam the original thread here. Has anyone used Deltec Bank? Last time I visited their website had no option to create an account with them. This might be the holy grail for us crypto bugs.www.offshorecorptalk.com
Yah it is crazy indeed.I do not know how many people know that this Sam guy bidding to buy Twitter...just before a month.......salute to his guts.....I do not have word for this guy. ..... another level psycho...... criminal minded....I do not think that he is un aware of his probelm when he bidding to buying Twitter......
This whole episode, will the learning lesson for all investors.......how fraud this hoodie guys are ....they showing the world they do not care about money.......do not done thier hair.....wear some funny cloth....presenting themselves as a some short of genius.....even big experienced investors are failing to recognise this crooks........
Good, facts are clear. Losses made (maybe after some years something comes back) and accepted. Case closed, and off to new races.Sam Bankman-Fried resigns as CEO of FTX as cryptocurrency exchange files for Chapter 11 U.S. bankruptcy
Check out this article from MarketWatch - Sam Bankman-Fried resigns as CEO of FTX as cryptocurrency exchange files for Chapter 11 U.S. bankruptcy
Even the ones who are unaffected by the FTX bankruptcy should better rethink their startegy: Governmets finally have a free-pass to overregulate the crypto market and strangulate it to death.For those who were affected I just want to say "don't quit"!
Learn to play the game by using decentralized stuff... it's not that hard!
That is not in their interest. They are after all these juicy cap gains and taxes.Even the ones who are unaffected by the FTX bankruptcy should better rethink their startegy: Governmets finally have a free-pass to overregulate the crypto market and strangulate it to death.
I can related with this....for myself also..As I growing up.......by reading or listening you can not learn anything meaningful...Only bad experience can teach you "the true lesson of life..."...FTX RIP.
Folk on here may have noticed that I have stopped arguing with people for a while now. Why???? Because it is easier to let people find out the hardway sometimes.
Most online debate are focusing on proving oneself right and put other person down...nothing constructiverock bottom will teach you lessons that mountaintops never will