Major crypto exchange FTX is about to collapse

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Originally Posted by sonatine

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Originally Posted by sonatine

this is really a big part of the point i was making yesterday.

fraud is when you line your own pockets with a rug pull.

the overwhelming majority of missteps that brought down ftx _appear_ to simply be impulsive gestures based on shit that worked a hundred times before it didnt.

the recent 'hacks' are a different convo, we dont know what happened there. im more inclined to chalk it up to north korea than insiders but whatever.

there were so many incredibly high risk plays made that were obviously not designed to deceive, but simply to be flashy 'i can so i will' type maneuvers... i dont know what a court can do with that, and i dont know what court would even have jurisdiction.

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alameda just copped to loans being used to finance venture capital investments at the peak of the bull run being the root cause. the loans got called and they used investor capital to cover. its just not clear to me if/how thats going to get prosecuted.

there may be some bookkeeping charges coming but honestly you really cant prosecute when a fund goes batshit. at best you can sue and lest we forget, burry got sued for halting withdrawals from scion in 2007 and no one got a penny from him because he was within his contractual rights.

its just not clear to me what contractual boundaries alameda had in place, or what is / is not allowed in the bahamas...

https://pbs.twimg.com/media/Fhj-Beta...pg&name=medium

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Yeah this might be the center of any criminal case brought against these four people. If Caroline really did tell people that she knew the entire time that SBF stole $10 billion in order to invest elsewhere, that makes SBF clearly guilty, Caroline a direct accomplice, and the other two likely accomplices as well.

Does anyone know why that "other" Sam guy left Alameda in August? He was co-CEO with Caroline, prior to his departure. From reading replies to Caroline's tweets about it at the time, it seemed there was already some suspicion that things weren't quite right there. Maybe the guy bounced because he was uncomfortable regarding what was going on, and knew the shit would hit the fan soon enough?

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Originally Posted by Dan Druff

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Originally Posted by sonatine

alameda just copped to loans being used to finance venture capital investments at the peak of the bull run being the root cause. the loans got called and they used investor capital to cover. its just not clear to me if/how thats going to get prosecuted.

there may be some bookkeeping charges coming but honestly you really cant prosecute when a fund goes batshit. at best you can sue and lest we forget, burry got sued for halting withdrawals from scion in 2007 and no one got a penny from him because he was within his contractual rights.

its just not clear to me what contractual boundaries alameda had in place, or what is / is not allowed in the bahamas...

https://pbs.twimg.com/media/Fhj-Beta...pg&name=medium

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Yeah this might be the center of any criminal case brought against these four people. If Caroline really did tell people that she knew the entire time that SBF stole $10 billion in order to invest elsewhere, that makes SBF clearly guilty, Caroline a direct accomplice, and the other two likely accomplices as well.

Does anyone know why that "other" Sam guy left Alameda in August? He was co-CEO with Caroline, prior to his departure. From reading replies to Caroline's tweets about it at the time, it seemed there was already some suspicion that things weren't quite right there. Maybe the guy bounced because he was uncomfortable regarding what was going on, and knew the shit would hit the fan soon enough?

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Which jurisdiction is going to prosecute in your opinion?

Sam Bankman-Fried reportedly said it was a mistake to pick a fight with Binance CEO Changpeng Zhao: 'not a good strategic move on my part"

https://www.businessinsider.com/sam-...report-2022-11

No Shit!!!


https://pbs.twimg.com/media/EzEzHaHXIAAPjgX.jpg

Caroline Ellison in November 2011... just 11 short years before she was on the run from the law. I bet the 17-year-old girl in this picture would have never predicted such a thing.

http://mathprizeforgirlscommunity.bl...es-indeed.html

http://4.bp.blogspot.com/-nCYOCtZfWN...d+ceremony.png

yeah sorry to be clear on the run from what law exactly?

im unaware of any pending legal cases / charges.

obviously who knows what the future may hold but i believe the bahamian security is 100% passive at this point and they have agreed not to leave the country, and she's chilling in hong kong currently.

like the vultures are clearly circling but its remarkable that somehow no one can find a broken law to go ham on yet


https://twitter.com/FinancialTimes/s...48933577777164

I think Caroline's admission to certain employees that she knew the funds were stolen from FTX is going to be the downfall of at least her and SBF.

Had this just been mishandled by FTX itself as an "investing customer assets and losing it all" fashion, then there still would probably be some charges, but they could plead ignorance and say that banks do exactly that, so they were basically doing the same thing.

Here SBF snuck in a backdoor in the system, which allowed him to swiftly transfer out 10 billion in assets, and his polyamorous, sometimes-girlfriend knowingly received the stolen assets and then traded with them for their sister company's gain.

It's that extra step in the middle which will really get them, and apparently Caroline admitted it to enough people to where it's going to be hard to deny.

I'd be shocked if any of them set foot on US soil voluntarily.

yeah but youre not showing me a law and how it was broken.

its not clear that using client funds to cover loan recalls is a crime if youre running a fund in the bahamas.

remember that ftx/alameda were not fdic insured or anything close to it, they arent beholden to the legal/regulatory constraints of us law.

now for all i know, the bahamian prosecutors can say 'yes under our laws, crimes were committed' and that would get the ball rolling but again its real real real interesting that the clock is ticking and not a single authority with jurisdiction over those entities has done anything more than express concern.

It won't be difficult for the U.S. to charge and convict SBF. Also, the Bahamas has an extradition treaty with the United States, so if the Bahamas isn't detaining him, I'd imagine he'll be leaving any minute now.

https://www.yahoo.com/news/could-sam...171405966.html

https://www.vanityfair.com/news/2022...-investigation

https://twitter.com/JUNlPER/status/1592513273609748480

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Originally Posted by sonatine

like the vultures are clearly circling but its remarkable that somehow no one can find a broken law to go ham on yet


https://twitter.com/FinancialTimes/s...48933577777164

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Yeah it is hilarious they can't find anything on him.....or any other Dem operative shoving multi millions into their coffers.

How is that Hunter Biden prosecution coming along?

You can lie cheat steal and break any law you want as long as you are on the right side.

https://twitter.com/stillgray/status...eqAvRkhA0cRMDg

John Mayer really needs to lose a lot of weight

This severe drop off in quality of pussy has gotta be extremely demoralizing for the poor guy

Great podcast with Bitcoin Marty explaining all this in the most simple way possible.

https://www.youtube.com/watch?v=cFHI3_f46B0

He mentions this could lead to a long term bear market for BTC and that the damage was tremendous. He said all alt coins are basically done. That is how this clown pulled this off. Used a coin they literally invented out of thin air as collateral to buy up distressed assets. Then Binance annnounced this shitcoin is worth nothing, we are liquidating our position....and then the house came crashing down because everyone followed their lead. MANY questions about who knew what......because a lot of this especially on the VC end just isn't adding up. The entire company and their parent company were run by a bunch of children who if they talked to them for 2 min, would have proven to not be somewhere you are going to park 400 mily for Sam to have nerd meth orgies in the Bahamas.

The only issue this Sam guy has is that FTX was based out of Florida.....he doesn't have any politicians on the payroll there to protect him. I'm not sure how all that factors in with Feds and all, but safe to say if he was operating pout of say....California......probably wouldn't have much to worry about.

Marc Cohodes, a short seller, believes that Dan Friedberg is the mastermind behind the FTX Ponzi and that SBF was the useful idiot.

https://threadreaderapp.com/thread/1...873825794.html


a first person account / analysis of the literal entire history of ftx.

its the hows and who's and whys.

LOL.

Embedded Tweet

https://twitter.com/KinkyBedBugs/sta...01367368978432

https://twitter.com/mazemoore/status...W--ajmJei90sdA

Stake.com, the #1 crypto casino, is taking up to $2,000,000 bets per World Cup match. Eddie Craven is one of the owners and he is in Australia. I can't believe Uncle Sam hasn't got a hold of him. He is not hiding in shithole Costa Rica or Antigua.

My favorite topic and the timing is exquisite. announced this morning

Banks and New York Fed Team Up On Digital Dollar Pilot

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Several big name financial services companies have joined up with the New York Federal Reserve to announce a 12-week digital dollar program.

The proposed platform will use distributed ledger technology, a decentralized peer-to-peer digital system for recording transactions between parties in multiple places at the same time, according to a statement issued by the participating companies

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The speed of the CBDC development has surprised even me.

Arrested? Indicted?

SBF is tweeting about making another run at it “for the customers”.

I’m losing interest frankly but a cursory glance has me thinking he still has full access to the FTX machine.

Scuttlebutt has it that Genesis is next with solvency issues.


The Twitter implosion is a developing story too. At least it’s all new and interesting to me.

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Originally Posted by Sanlmar

Arrested? Indicted?

SBF is tweeting about making another run at it “for the customers”.

I’m losing interest frankly but a cursory glance has me thinking he still has full access to the FTX machine.

Scuttlebutt has it that Genesis is next with solvency issues.


The Twitter implosion is a developing story too. At least it’s all new and interesting to me.

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fwiw i already addressed this on the grownup site.

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Originally Posted by Sanlmar

Arrested? Indicted?

SBF is tweeting about making another run at it “for the customers”.

I’m losing interest frankly but a cursory glance has me thinking he still has full access to the FTX machine.

Scuttlebutt has it that Genesis is next with solvency issues.


The Twitter implosion is a developing story too. At least it’s all new and interesting to me.

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Keep your eye on $SI (Silvergate Bank). It was a fail bank based out of San Diego that decided to get involved with crypto. No bank in the USA wanted anything to do with crypto for a long time. It was perceived as being too risky. Silvergate didn't care and started offering banking services for regulated sites like Coinbase and unregulated sites like Binance. They most likely have a ton of exposure to FTX, even though they have denied it. The stock was down 17% today.

https://twitter.com/SBF_FTX/status/1592567502911205377
https://twitter.com/SBF_FTX/status/1592611893449220097
https://twitter.com/SBF_FTX/status/1592711597004234752
https://twitter.com/SBF_FTX/status/1592768342582259725


Dude has a set of brass ones to be posting this shit.

SBF's lawyers must be tearing their hair out every time he tweets

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Originally Posted by sonatine

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Originally Posted by Sanlmar

Arrested? Indicted?

SBF is tweeting about making another run at it “for the customers”.

I’m losing interest frankly but a cursory glance has me thinking he still has full access to the FTX machine.

Scuttlebutt has it that Genesis is next with solvency issues.


The Twitter implosion is a developing story too. At least it’s all new and interesting to me.

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fwiw i already addressed this on the grownup site.

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Does grownup mean not married no kids, old and doesn’t even outright own a home? Rofl.

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Originally Posted by sonatine

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Originally Posted by Sanlmar

Arrested? Indicted?

SBF is tweeting about making another run at it “for the customers”.

I’m losing interest frankly but a cursory glance has me thinking he still has full access to the FTX machine.

Scuttlebutt has it that Genesis is next with solvency issues.


The Twitter implosion is a developing story too. At least it’s all new and interesting to me.

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fwiw i already addressed this on the grownup site.

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So what is the "Grownup Site" because i dont know, is that Skatzpoker.org (weird if so but) lost but I think youre referring to Skatz there, or no

what is the "Grown Up" site??

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Originally Posted by Dan Druff

https://twitter.com/SBF_FTX/status/1592567502911205377
https://twitter.com/SBF_FTX/status/1592611893449220097
https://twitter.com/SBF_FTX/status/1592711597004234752
https://twitter.com/SBF_FTX/status/1592768342582259725


Dude has a set of brass ones to be posting this shit.

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Nope Gensler's got his back.

I was surprised to see ties with people from Ultimate Bet Poker.
approx 23 min.
https://www.youtube.com/watch?v=lIMKsB3D9SU

If what Mashinsky did at Celcius doesn't get prosecuted nothing will.
Above video is great, Pandemics Ukraine UB Biden and more.

This entire FTX situation so scandal people now to me seem very, South Florida here like, close so i notice that. Bahamas is not far at all some people dont understand to go from Ft. Lauderdale to the Bahamas by fishing Boat with a 2 good motors most would have for sure, you can with proper Gasoline storage make it to the Bahams in great weather in about 4 hours.

4 Hours from Ft. Lauderdale to the Bahamas on say a Conetender fishing boat actually, for example

https://www.boats.com/boats/contender/44-cb-8470849/

https://www.ericksonmarinecorp.com/b...orida-7180269/

^That Contender 44 footer with 4x300+HP Engines on them boats they're FAST

Calm waters properly done it is quick to the Bahamas. People know this with proper timing and weather its a quick Zip from Ft Lauderdale to the Bahamas, so another Country too. Yes this entire FTX situation happening from there had me absolutely start thinking how easy that is, easy and fast properly done

Now totally not ever someone who would worry himself but

do wonder now how much COLD STORAGE Cryptocurrency made it offshore simply too, thats scary except it is all Blockchain so Public Ledger and also why i watch instead of have too much opinion myself now. This could all be a total haha lol lol Govt Op job of sorts but for a real reason, on their part maybe IDK and if some was stolen they absolutely would have reason then too want to get it offshore farrr aware from America, so that also has me wonder ohhh no, thats ABC easy actually. You could on a fast fishing bot be bringing Cold Storage Billions even to the Bahamas.

We already know seems some went to he Middle East (Dubai..) it seems and Asia with some of this i think, but im not sure im also a pedestrian watching with popcorn too now....

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Originally Posted by Tellafriend

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Originally Posted by Sanlmar

Binance is gonna have a short ass life. This is not over by a long shot.

Scarramucci is one of the regular cast of CNBC “content” that comes on to pump whatever it is they are up to.

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he's a pos. when the female asked him a tough question about needing sam to bail him out, you could hear is heart drop. just another grifter.


and then there is more:

Glory To Heroes.
Death to enemies.
JOHN ELLIS
NOV 12
PAID


10. FTX founder Sam Bankman-Fried invested hundreds of millions of dollars into venture capital funds run by firms such as Sequoia Capital which also backed his struggling FTX crypto exchange, according to documents seen by the Financial Times. The 30-year-old entrepreneur, who has been seeking to raise billions of dollars in emergency financing, has a $200 million investment in two funds run by Sequoia, the US venture capital investor, held through his Alameda Research crypto trading group. Alameda also had smaller investments in funds run by FTX venture capital backers Paradigm, Altimeter Capital Management, Sino Global Capital and Multicoin Capital, the documents show. (Source: ft.com)

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https://twitter.com/unusual_whales/s...eo2qndwXd80q4A

Do you share my outrage that Autism Capital has stolen the mantle of autistic fraud reporting from us?

I'm doing some consulting work for large deposit account holders out of the far east.

https://web.panewslab.com/zh/article.../48o4ylwc.html

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Originally Posted by Sanlmar

My favorite topic and the timing is exquisite. announced this morning

Banks and New York Fed Team Up On Digital Dollar Pilot

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Several big name financial services companies have joined up with the New York Federal Reserve to announce a 12-week digital dollar program.

The proposed platform will use distributed ledger technology, a decentralized peer-to-peer digital system for recording transactions between parties in multiple places at the same time, according to a statement issued by the participating companies

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The speed of the CBDC development has surprised even me.

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The gubmint patiently waited for crypto to collapse from fraud as they (we) knew it would to roll out CBDC. I am still in awe of the strategy.

Gubmint now has every libertarian nerd & dev absolutely pleading for regulation.

Thwack. Down comes the hammer of the biggest loss of liberty and privacy in your lifetime and that’s saying a lot.

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Originally Posted by brutal_thinker

I'm doing some consulting work for large deposit account holders out of the far east.

https://web.panewslab.com/zh/article.../48o4ylwc.html

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Do you have any thoughts you’d like to share with the class?

Ummmm.....Stay away from Crypto?

https://twitter.com/sullycnbc/status...vUtPcwTgleITYQ

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Originally Posted by garrett

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Originally Posted by sonatine

fwiw i already addressed this on the grownup site.

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So what is the "Grownup Site" because i dont know, is that Skatzpoker.org (weird if so but) lost but I think youre referring to Skatz there, or no

what is the "Grown Up" site??

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Sonatine is a fat disgrace