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Forum » Sam Bankman-Fried Wiped Out in Days (FTX)
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Thread: Sam Bankman-Fried Wiped Out in Days (FTX)

post 1671304423 11-17-2022, 05:13 PM
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#181
  1. AgnarBagnar
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tweakers man
post 1671304553 11-17-2022, 05:15 PM
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#182
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Originally Posted By anonkunbrah⏩
did any CEO/10k a day miscers lose money bc of this?
I may have. Still waiting for the dust to settle to find out. I didn't invest in FTX, but had my money with another company that apparently did and they are now out millions and have a liquidity issue themselves.
post 1671305333 11-17-2022, 05:28 PM
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#183
  1. EDcellent
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The longer I look into this, the worse it gets. I understand why some people just invest in real estate or just keep money in their safe, or mattress.
post 1671305673 11-17-2022, 05:34 PM
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#184
  1. mesobuild
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They did not use regulation and just took the customer deposits themselves to buy houses for polycule orgies.
post 1671305893 11-17-2022, 05:40 PM
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#185
  1. gwg77
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Originally Posted By mesobuild⏩
They did not use regulation and just took the customer deposits themselves to buy houses for polycule orgies.
The loans they took out are unreal. They will never be able to repay those loans either:

SBF: $1 billion

Nishad Singh: $543 million

Ryan Salame: $55 million
post 1671306103 11-17-2022, 05:43 PM
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#186
  1. -JR
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Originally Posted By mesobuild⏩
They did not use regulation and just took the customer deposits themselves to buy houses for polycule orgies.
Debating whether to move off Gemini at a loss. Chit fooking sucks, but rather have something than nothing...
-Virtue is its own reward

-Survived misc outage 2022 crew
-My old username (Johnez) did not survive outage :-(
post 1671306173 11-17-2022, 05:45 PM
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#187
  1. Destor
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[QUOTE=gwg77 post_id=1671294013]SBF went to Chamath for an investment. Chamath gives his team a 2 page write-up on suggestions so they can move forward, like setting up a Board of Directors, etc.

SBF's team gets back to him and simply says: "Go fuсk yourself."

Short clip of Chamath telling the story:

[x]https://twitter.com/unusual_whales/status/1591898949547196416[/x]

Reuters headline:

[img]https://i.imgur.com/rquj3Hf.jpg

Meanwhile, the media is trying to pin the blame on China:

[img]https://i.imgur.com/fovZFvT.jpg[/QUOTE]Who the fuk is Chamath to judge anyone, he spent the pandemic selling retail investors garbage SPACs to scoop up his share from the money printers and then wisely slunk into the shadows. I hope he says more, if only so it draws more criticism his way.

I think it sounds like the Binance CEO knew exactly what was going on with FTX and knew how to blow them up. When SBF started slandering him in meetings with Saudis, he let it rip.
post 1671306193 11-17-2022, 05:47 PM
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#188
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Originally Posted By gwg77⏩
SBF: $1 billion
Scam Bankrun-Fraud

lemme just borrow 1 billion from a new company and assume I'll be allowed and able to pay it back
post 1671306233 11-17-2022, 05:47 PM
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#189
  1. dabbmw2002
  2. Trolling the trolls.....
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Post deleted by user
Original Ruckus
post 1671306653 11-17-2022, 05:54 PM
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#190
  1. Rul3
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I mean besides the whole crypto scandal I just can't get past these people talking about their sexual preferences without laughing hysterically

his girlfriend

“When I first started my foray into poly, I thought of it as a radical break from my trad past, but tbh I’ve come to decide the only acceptable style of poly is best characterized as something like ‘imperial Chinese harem,’” the account’s owner said.

“None of this non-hierarchical bulls—t; everyone should have a ranking of their partners, people should know where they fall on the ranking, and there should be vicious power struggles for the higher ranks.”
post 1671306803 11-17-2022, 05:57 PM
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#191
  1. jackamo2887
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If you're gonna steal 1 billion dollars..have a fukin exit plan. Madoff got caught because the economy absolutely tanked and his fraud was exposed. These idiots look like they just didn't even give a fuk.

He should have been buying poltical favor in Russia this entire time, not the US. Take the 1 billion and run to where you won't be extradited.
Survival. When the jungle tears itself down and builds itself into something new. Guys like you and me, we end up dead. Doesn’t really mean anything. Or, if we happen to live through it, well that doesn’t mean anything either.
post 1671307123 11-17-2022, 06:03 PM
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#192
  1. Slamt
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Originally Posted By gwg77⏩


Thats alot of juice
Originally Posted By jackamo2887⏩
If you're gonna steal 1 billion dollars..have a fukin exit plan. Madoff got caught because the economy absolutely tanked and his fraud was exposed. These idiots look like they just didn't even give a fuk.

He should have been buying poltical favor in Russia this entire time, not the US. Take the 1 billion and run to where you won't be extradited.
Can't really buy political favor from Russia when his whole purpose was to launder the money sent to Ukraine.
post 1671307233 11-17-2022, 06:04 PM
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#193
  1. Destor
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Originally Posted By jackamo2887⏩
If you're gonna steal 1 billion dollars..have a fukin exit plan. Madoff got caught because the economy absolutely tanked and his fraud was exposed. These idiots look like they just didn't even give a fuk.

He should have been buying poltical favor in Russia this entire time, not the US. Take the 1 billion and run to where you won't be extradited.
Much of what’s happening now can likely be tied in some way to the rising interest rates and Fed removing liquidity from the system, there will be a lot more margin unwinding before this is over

Crypto is heavily leveraged and who knows how much leverage is being leveraged and leveraged again
post 1671307353 11-17-2022, 06:06 PM
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#194
  1. gwg77
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Originally Posted By Destor⏩
Who the fuk is Chamath to judge anyone, he spent the pandemic selling retail investors garbage SPACs to scoop up his share from the money printers and then wisely slunk into the shadows. I hope he says more, if only so it draws more criticism his way.

I think it sounds like the Binance CEO knew exactly what was going on with FTX and knew how to blow them up. When SBF started slandering him in meetings with Saudis, he let it rip.
Yep. Chamath definitely knows a good con artist from personal experience.


Originally Posted By dabbmw2002⏩
meanwhile they are ripping through trump for overvaluing properties to get loans. These two better get the book
This is (D)ifferent and you know it.
post 1671307413 11-17-2022, 06:07 PM
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#195
  1. jackamo2887
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Originally Posted By Slamt⏩
Can't really buy political favor from Russia when his whole purpose was to launder the money sent to Ukraine.
There's always ways to play both sides.
Survival. When the jungle tears itself down and builds itself into something new. Guys like you and me, we end up dead. Doesn’t really mean anything. Or, if we happen to live through it, well that doesn’t mean anything either.
post 1671309053 11-17-2022, 06:39 PM
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#196
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https://markets.businessinsider.com/...-fried-2022-11

post 1671311183 11-17-2022, 07:15 PM
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#197
  1. gwg77
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Securities Commission of The Bahamas Assumes Control of Assets of FTX Digital Markets Ltd.





post 1671311993 11-17-2022, 07:27 PM
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#198
  1. 128
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Originally Posted By gwg77⏩
Rumor has it on twitter that there is a SBF-Ugly Girl sex tape that will be released on the 18th





Put them away before they reproduce and spawn the most anti human hideous creature inside and out
post 1671312483 11-17-2022, 07:36 PM
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#199
  1. Johnny11Bravo
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Originally Posted By imiscubb⏩
wood bury that lil nerd
Originally Posted By WeBoutDat⏩
I…wood not.
Originally Posted By 128⏩
Put them away before they reproduce and spawn the most anti human hideous creature inside and out
post 1671316593 11-17-2022, 08:39 PM
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#200
  1. gwg77
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Epic twitter video is epic:


post 1671328123 11-18-2022, 03:40 AM
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#201
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@~35:00
post 1671368143 11-18-2022, 04:31 PM
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#202
  1. gwg77
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Quick Recap: FTX raised at least $1.8 Billion in Venture Capital. No due diligence was ever performed.

FTX had:

- No Board of Directors
- No CFO
- No Finance and Accounting staff
- No Risk Management team
- No HR staff
- No cash management systems
- No audited financial statements for Alameda Research or FTX Ventures
- No bank account for FTX. According to SBF, FTX funds were being sent to Alameda
- No accurate list of all bank accounts
- No books or records
- No security controls for digital assets
- No internal communication records - all communications were set to auto-delete



- LITERALLY NO INTERNAL CONTROLS
post 1671368953 11-18-2022, 04:49 PM
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#203
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You can almost hear all the other crypto companies frantically trying to get some semblance of their chit in order before they implode as well

I mean really, FTX seems to have been regarded as one of the best out there until it all unravelled. I highly doubt their setup, or lack thereof, is unique in the crypto world.
post 1671369113 11-18-2022, 04:53 PM
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#204
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Originally Posted By Destor⏩
You can almost hear all the other crypto companies frantically trying to get some semblance of their chit in order before they implode as well

I mean really, FTX seems to have been regarded as one of the best out there until it all unravelled. I highly doubt their setup, or lack thereof, is unique in the crypto world.
post 1671369393 11-18-2022, 05:00 PM
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#205
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Pretty sure every crypto besides bitcoin is useless and fraudulent on a grand scale, and even bitcoin is just purely speculation and backed with nothing.

And people spent so much time trying to convince others to join in on the Ponzi scheme's so they can make more money and pull the rug out from unsuspecting NPC's.

What we are witnessing is the great reveal of some of the biggest financial fraud ever. Just shows you how greedy and disgusting so many people are. However every person that bought into that chit and fell for it is culpable for their actions. Greed took over.
post 1671370823 11-18-2022, 05:29 PM
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#206
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This is only the beginning. What’s next is more pull outs, crypto will crash, it’s not a “bear market” it’s garbage assets being revealed for the frauds they are, and legislation which will take the teeth out of any benefit crypto has


Crypto always was and currently is worthless. Basically greater fool theory. Yea you could’ve made big money if you got in early but it’s over , and it ain’t coming back. If you didn’t make your mint from it find the next scam
post 1671370983 11-18-2022, 05:34 PM
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#207
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https://mobile.twitter.com/Forbes/st...15727512227840

Forever alone? Attraction and keeping the girl chasing you - http://forum.obnoxiousbrutes.com/showthread.php?t=131498033

You will never know your limits, unless you push yourself past the imaginary lines you have drawn in the sand.

Knee Dragger - '06 GSX-R750
post 1671375873 11-18-2022, 07:19 PM
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#208
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post 1671376433 11-18-2022, 07:29 PM
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#209
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Originally Posted By 128⏩
Put them away before they reproduce and spawn the most anti human hideous creature inside and out
Both look like middle schoolers lol.

gwg77 doing gods work here. Cotdam dude.
-Virtue is its own reward

-Survived misc outage 2022 crew
-My old username (Johnez) did not survive outage :-(
post 1671376563 11-18-2022, 07:32 PM
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#210
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Wow. SBF cashed out $300m out of a $420m VC round.





When FTX raised $420 million from an array of big-name investors in October last year, the cryptocurrency exchange said the money would help grow the business, improve user experience and allow it to engage more with regulators.

Left unmentioned was that nearly three-quarters of the money, $300 million, went instead to FTX founder Sam Bankman-Fried, who sold some of his personal stake in the company, according to FTX financial records reviewed by The Wall Street Journal and people familiar with the transaction.

Mr. Bankman-Fried’s cashout was large by startup-world standards, where such sales historically were taboo because they allow founders to reap profits before investors. Mr. Bankman-Fried told investors at the time it was a partial reimbursement of money he spent to buy out rival Binance’s stake in FTX a few months earlier, according to some of the people familiar with the transaction.

The deal offers a glimpse at the swirl of money between Mr. Bankman-Fried and multiple entities he controlled while his crypto business flourished, a funding stream that helped finance a burst of political donations, philanthropic commitments and a large purchase of Robinhood Markets Inc. stock in the past year.
https://www.wsj.com/articles/ftxs-sa...ee-11668799774
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