Ftx

[SassyLady]

What happened? Some say it was a massive money laundering scheme.

https://news.yahoo.com/ftx-collapse-being-scrutinized-bahamas-160057277.html

[Kathianne]

What happened? Some say it was a massive money laundering scheme.

https://news.yahoo.com/ftx-collapse-being-scrutinized-bahamas-160057277.html


I hear it's Lehman Bros stuff or Maydoff, total con.

Good thing about not having too much money, never bothered to 'get' crypto currency. Hard enough to hold onto the green stuff.

[fj1200]

What happened? Some say it was a massive money laundering scheme.

https://news.yahoo.com/ftx-collapse-being-scrutinized-bahamas-160057277.html

No. Crypto-"billionaires" thought that they actually were smart rather than just in the right place at the right time.

https://www.cnn.com/2022/11/11/business/sbf-wealth

Celebrities are pretty much the same.

https://www.bloomberg.com/features/2022-crypto-celebrity-endorsements/?leadSource=uverify%20wall

Shades of the shoe-shine boys of the '20s.

[Kathianne]

One more:


https://nypost.com/2022/11/14/uncle-sam-is-playing-the-same-game-as-broke-disgraced-crypto-king/

[Gunny]

I hear it's Lehman Bros stuff or Maydoff, total con.

Good thing about not having too much money, never bothered to 'get' crypto currency. Hard enough to hold onto the green stuff.What green stuff? That stuff we used to have called cash? It's a plastic card now.

I have seen almost no reason to exchange dollars for crypto to buy the same damned thing.

[SassyLady]

More info on the hoax .. this guy was 2nd largest donor to democrats after Soros.

https://www.foxbusiness.com/politics/house-republicans-press-blinken-concerns-ukraine-aid-donated-dems-through-ftx

[fj1200]

More info on the hoax .. this guy was 2nd largest donor to democrats after Soros.

https://www.foxbusiness.com/politics/house-republicans-press-blinken-concerns-ukraine-aid-donated-dems-through-ftx

Do they have any actual evidence?


Rep. Troy Nehls, R-Texas, led the letter with several of his GOP colleagues to Blinken, expressing their concerns about the potential investment of Ukraine military financial aid into FTX, whose founder, Sam Bankman-Fried (https://www.foxbusiness.com/markets/new-ftx-boss-condemns-bankman-fried-for-complete-failure-of-corporate-controls), made significant donations to Democrats this midterm cycle.

[SassyLady]

Do they have any actual evidence?
That's why they're asking the State Department and Blinken questions. That's how you get the evidence.


"We sincerely hope the primary driver behind the billions in Congressional assistance to Ukraine was not Democrats attempting to keep themselves in power, and that none of the missing funds were used as a passthrough to avoid campaign finance laws or end up in Democrat pockets," the lawmakers wrote.

[Gunny]

More info on the hoax .. this guy was 2nd largest donor to democrats after Soros.

https://www.foxbusiness.com/politics/house-republicans-press-blinken-concerns-ukraine-aid-donated-dems-through-ftxGood :) If he and the Dems are playing shady, I'm all about the Dems going after him.

[Gunny]

Do they have any actual evidence?If he burned the Dems they will. Evidence counts when it's them.

[fj1200]

That's why they're asking the State Department and Blinken questions. That's how you get the evidence.

So they're fishing.

[SassyLady]

So they're fishing.

And it appears to be a well stocked pond.

[fj1200]

And it appears to be a well stocked pond.

Prediction? Goes nowhere. We'll find out how well stocked it was.

[Gunny]

Prediction? Goes nowhere. We'll find out how well stocked it was.Then why's this idiot running and turning his money into Bahama coinage?

Honest question. I have no idea.

[icansayit]

And it appears to be a well stocked pond.

More like PONZI scheme, combined with a SURE THING MONOPOLY of gullible people who only see....$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$

[SassyLady]

Prediction? Goes nowhere. We'll find out how well stocked it was.
Maxine Waters is already floating the idea of Democrat politicians giving back what FTX donated to them.

There's corruption there but whether or not anything is done will be up to Biden's DOJ and we know what that means.

Oh, and I've heard rumblings of international investigation starting. Maybe won't have to songs on DOJ.

[Kathianne]

FTX is on the right? LOL! Honestly, there is nothing the media can't twist to the left's favor:

https://hotair.com/david-strom/2022/11/18/ftx-now-right-wing-according-to-forbes-n512125


FTX now right-wing according to Forbes
DAVID STROM 9:21 PM on November 18, 2022

...

In another of the long line of “The Narrative™” posts I give you this:


I kid you not. FTX–the crypto-fraud firm that just collapsed–is the brainchild of Sam Bankman-Fried, the second largest Democrat donor in the country. He helped find Joe Biden’s campaign, contributing more than any other than our old friend George Soros. He spent $40 million on Democrats, and promised them $1 billion to help win the 2024 presidential campaign. Caroline Ellison is one of his far-too-many sexual partners and roommates.


And now his hand-picked CEO and fellow member of the “polycule” sex collective with Sam the man, is the “darling of the alt-right.” Because some idiot on some site nobody–and I mean nobody–has ever heard of said he thought she might be innocent. One weirdo? This is what they are going with? Urbit? What?


So FTX is actually a Republican scandal. Really. Truly.

https://hotair.com/wp-content/uploads/2022/11/Screenshot-2022-11-18-at-1.41.21-PM-647x730.png

What is hilarious about this–actually there are many things hilarious about this–is that FTX is actually a darling of Forbes Magazine, who helped it vault to the top of the crypto world. Forbes hyped the company, hyped Sam Bankman-Fried as a genius, and along with the New York Times turned SBF into a hero, genius inventor. To the extent that Caroline the fraud was enabled, Forbes, Fortune Magazine, and the New York Times were the chief enablers.

...

[SassyLady]

Another perspective


https://kunstler.com/clusterfuck-nation/a-smoldering-fuse/

CLUSTERFUCK NATION – BLOG November 18, 2022

A Smoldering Fuse

We have pretty much burned our bridges at this point. Unless you’re prepared to mindfuck yourself, and gaslight yourself, and confess, and convert, there’s no going back to “normal” society (which we couldn’t go back to anyway, on account of how it doesn’t exist anymore) — CJ Hopkins

Thirty-seven billion more dollars for Ukraine? (That’s thirty-seven thousand millions of dollars, by the way.) Bringing the total this year to a click-or-two over ninety billion (ninety-thousand millions), on top of whatever Sam Bankman-Fried’s FTX company funneled through that sad-sack international money laundromat — soon to be the darkest backwater of a European failed state since Field Marshal Melchior von Hatzfeldt of Westphalia left Bohemia a corpse-strewn wasteland after the Battle of Jankau (1645).

It really doesn’t matter how much more money we pound down that rat-hole, you understand, because by the time various parties — the weapons-makers, Volodymyr Zelensky, sundry members of the US House of Representatives, the Biden family, the World Economic Forum — are finished creaming off their fair shares, poor Ukraine won’t have enough cash-on-hand to replace six fuse-boxes in Zaporizhzhia.

Against this backdrop, the USA enters a holiday season near-death spiral as unspooling scandals battle a collapsing economy for supremacy of the alt news sites. Case-in-point: the aforementioned FTX monkey business, a metastasizing tumor of the body politic. This complex fraud will smolder for a few weeks before it explodes into an extinction-grade event for the Democratic Party. The usual suspects among the mainstream media are trying strenuously to ignore it, but the shreds of this exploding money-borg are already sticking to guilty parties far and wide across the political landscape like so much rotting flesh.

FTX commander-in-chief Sam Bankman-Fried remains at large after steering the crypto-currency trading platform into a bankruptcy so hideously tangled that the assigned liquidator in court proceedings, one John Ray III, who oversaw the Enron aftermath years ago, was boggled by what he’s found so far (and it’s early in the game): Namely, a company run by a handful of twenty-something drug freaks with no idea what they were doing, no record-keeping, and a slime trail of misappropriated investors’ funds leading to Kiev and Geneva through various crooked American political action committees, and the halls of Congress — with echos in ballot harvesting shenanigans which shaped the outcome of this month’s US elections.

Mr. Bankman-Fried is still scheduled as a main speaker for Accenture’s Nov. 30 DealBook Conference in New York ($2,499 for a ticket), along with Ukrainian President Volodymyr Zelensky and US Treasury Secretary Janet Yellen. Odds on him showing up? Or even being alive elsewhere on this planet then?

The Bankman-Fried extended family is the quintessence of Woke aristocracy. Dad Joe Bankman and mom Barbara Fried are both law professors at Stanford. She also acted as a money-bundler for the Democratic Party and ran two non-profit “voter registration” orgs (against the IRS laws which only permit non-partisan organized voter registration). Brother Gabe Bankman-Fried headed a non-profit named Guarding Against Pandemics (funded by Sam), which lobbies Congress to construct new platforms for medical tyranny. Aunt Linda Fried is Dean of Columbia U’s Public Health school, and is associated with Johns Hopkins, which ran the October 2019 Event 201 pandemic drill (sponsored by the Gates Foundation) months before the Covid-19 outbreak.

Sam’s girlfriend, Caroline Ellison, ran the Alameda Investments arm of the FTX empire (that is, FTX’s own money laundromat). Her dad, Glenn Ellison, is chair of MIT’s Econ School. His former colleague on the MIT Econ faculty, Gary Gensler, who specialized in blockchains there, is now head of the Securities and Exchange Commission, an agency that Sam Bankman-Fried was attempting to rope into a regulation scheme to eliminate FTX’s crypto-currency competitors. Caroline’s mom, Sara Fisher Ellison, is an MIT econ prof specializing in the pharmaceutical industry (fancy that!). Caroline Ellison is currently on-the-run.

The sum total of all this professional and academic accomplishment is also the quintessence of Woke-Jacobin turpitude in service to a political faction that seeks maximum moneygrubbing while acting to overthrow every norm of behavior in the conduct of elections, and perhaps in American life generally. That’s some accomplishment. It’s also a lesson in why the managerial elite of our country are no longer trustworthy. They have gotten away with crimes against the nation for years, which has only made them bolder and more reckless.

Wait for the FTX bankruptcy to unwind, along with all the political ramifications it entails, not to mention the financial afterburn in the whole crypto market, very likely extending into and befouling the rest of the banking system. This is going to be a clusterfuck for the ages, and will propel the USA into a depression with no visible horizon.

[fj1200]

Then why's this idiot running and turning his money into Bahama coinage?

Honest question. I have no idea.

FTX was based in the Bahamas. There were rumblings he was headed to Argentina but apparently he's still in the Bahamas.


Maxine Waters is already floating the idea of Democrat politicians giving back what FTX donated to them.

There's corruption there but whether or not anything is done will be up to Biden's DOJ and we know what that means.

Oh, and I've heard rumblings of international investigation starting. Maybe won't have to songs on DOJ.

They probably should give it back. But what corruption do you expect to find? Mostly I'm expecting major incompetence and an astounding lack of experience and an astounding amount of bravado.

[fj1200]

Another perspective


This is going to be a clusterfuck for the ages, and will propel the USA into a depression with no visible horizon.

Oh my good Lord that's ridiculous.

[Gunny]

FTX was based in the Bahamas. There were rumblings he was headed to Argentina but apparently he's still in the Bahamas.



They probably should give it back. But what corruption do you expect to find? Mostly I'm expecting major incompetence and an astounding lack of experience and an astounding amount of bravado.

I am curious as to the Dem - Whatever-this-idiot's-name-is connection. Apparently he was second only to Soros in political donations to the Dems. Did the Dem Party in turn buy into his "gold mine"? If so, with whose money? What impact, if any, does this have on the US dollar/economy? I assume individuals who bought in are left holding the (empty) bag?

Not looking for a conspiracy here. Just trying to figure out what damage this idiot has done and to who. I'm sure we can all see my bleeding, broken heart if the Dem Party and/or individual Dems get soaked :halo9:

What crime(s) has he actually committed?

[fj1200]

I am curious as to the Dem - Whatever-this-idiot's-name-is connection. Apparently he was second only to Soros in political donations to the Dems. Did the Dem Party in turn buy into his "gold mine"? If so, with whose money? What impact, if any, does this have on the US dollar/economy? I assume individuals who bought in are left holding the (empty) bag?

Not looking for a conspiracy here. Just trying to figure out what damage this idiot has done and to who. I'm sure we can all see my bleeding, broken heart if the Dem Party and/or individual Dems get soaked :halo9:

What crime(s) has he actually committed?

Good question on if he has actually committed a crime. I think it's pretty obvious he's a craptastic business man who people thought could run a company because he got lucky in cryptocurrencies (IMO). He gave plenty of money to Dems but that doesn't automatically equate to fraud and criminal. People lost money but I don't think it comes anywhere near crushing the economy.

[Gunny]

Good question on if he has actually committed a crime. I think it's pretty obvious he's a craptastic business man who people thought could run a company because he got lucky in cryptocurrencies (IMO). He gave plenty of money to Dems but that doesn't automatically equate to fraud and criminal. People lost money but I don't think it comes anywhere near crushing the economy.

People losing money on crypto are the same to me as people losing money on Wall Street or in Vegas. Your money. It's called gambling for a reason. Everyone wants assurance they won't lose in games of chance. Conversely, what promises did this clown make that will stand up in court?

I'd call giving plenty of money to Dems a red flag on trusting this guy with your investment capital :)

What I am looking for in that arena is Dems bailing any of this out with Federal funds. I'm not okay with that.

[fj1200]

People losing money on crypto are the same to me as people losing money on Wall Street or in Vegas. Your money. It's called gambling for a reason. Everyone wants assurance they won't lose in games of chance. Conversely, what promises did this clown make that will stand up in court?

I'd call giving plenty of money to Dems a red flag on trusting this guy with your investment capital :)

What I am looking for in that arena is Dems bailing any of this out with Federal funds. I'm not okay with that.

Pretty sure that ain't gonna happen. This is a whole new world that the bankruptcy court (Chapter 15) is going to try and deal with and any potential regulation that might come down the pipe because of this.

[Gunny]

Pretty sure that ain't gonna happen. This is a whole new world that the bankruptcy court (Chapter 15) is going to try and deal with and any potential regulation that might come down the pipe because of this.

So read the "FTX for Dummies" article in New York Magazine. Why do I distrust it just because it says "New Your"? :rolleyes:

Anyway, Bankman-Fried or whatever his name is, pulled out some Monopoly money and people bought it. He's apparently made the real money that his was bought with disappear. Charles Ponzi will never die :laugh:

[Gunny]

https://www.foxbusiness.com/technology/cryptocurrency-exchange-ftx-owes-more-than-3-billion-creditors