THE COLLAPSE OF FTX AND ALLAMEDA IS A PRETTY BIG DEAL!
One of the most important things to know
#Bitcoin is not #Crypto
Elizabeth Warren “We don’t need Citigroup or Morgan Stanley or BlackRock getting to choose who runs the economy in this country so that they can capture our government,”
Elizabeth Warren is known for being the anti-crypto Senator Who helped her draft her tax legislation in 2016? None other than Joseph (Joe) Bankman, the father of SBF.
https://fortune.com/crypto/2022/11/11/sbfs-disgrace-could-make-things-awkward-for-gary-gensler-and-the-democrats/
But the population that reads the standard NYT WP etc. CNBC , CNN approved media doesn’t know about it THAT IS TOTAL BULLSHIT!!
The NYTimes was harder on Brian Armstrong for saying “let’s not talk about politics at work” than they were about SBF misappropriating $10bn of customer funds.
The New York Times just put out a piece on Sam Bankman-Fried of FTX.
The entire piece is 2218 words.
There is no mention of:
– FTX using customer funds
– Alameda trading on tokens before listings
– The fact that millions of traders were wiped out
– Any form of possible fraud
“Fraud”: 0
“Enron”: 0
“Crime”: 0
“Liquid”: 0
“Stolen”: 0
“Hidden”: 0
“Criminal”: 0
“Back door”: 0
“He’s getting sleep”: 1
Disgraceful reporting by the @nytimes on FTX.
It portrays SBF as a charitable entrepreneur who went under and does not mention the words fraud, criminal, substance abuse, friends & family Bahamas KYC racket, hack, stolen funds or wiped servers anywhere.
In NYT article, Alameda CEO admits to misappropriating FTX customer deposits.
Per FTX Terms of Service, the deposits are not FTX’s to use…and FTX can’t loan it.
NYT writes it up FTX “used” and “lent” deposits. Think the appropriate words are: “wire fraud”, “stole”, “theft”.
1. Alameda invests in a project
2. Alameda asks that project to put that invested money into FTX
3. FTX sends that same money BACK to Alameda
4. Alameda invests in another project
5. And the cycle continue…
Then the NYT puff piece ends with a note on the cryptic thread, which SBF says “I’m making it up as I go.”
He adds one tweet after deleting an old incriminating tweet — so as to fool tweet bot counters: ALSO about those mysterious 1 letter tweets that SBF was sending that made no sense actually was figured out. The whole mystery was SBF scrolling through his twitter feed looking for incriminating tweets then deleting it one at a time. He would find one, then send a tweet with just one letter like “W” then delete the bad tweet, then repeat all because he didn’t want to trigger the bot that keeps could of how many tweets you’ve sent. Send one, delete one then the amount stays the same.
OK SO IT ACTUALLY WORKED LMAO THAT’S WHAT HE’S DOING
Jack Maller about SBF
“I think everything @SBF_FTX said about #bitcoin was factually incorrect” — @jackmallers , May 2022 6 months ago
https://twitter.com/DocumentingBTC/status/1592318503641845761
FTX lawyers said in an updated bankruptcy filing that the #crypto exchange could have more than 1 million creditors.
Here’s where the FTX scandal gets really interesting: The names and deposit amounts of every single FTX customer could become public in the Chapter 11 bankruptcy filing!
Jason Choi
The Definitive Thread on FTX
I met SBF before FTX started, and witnessed their rise and fall.
If anyone wants to know what happened, send them this.
WHY ELON IS SUCH A PIG
Engineers don’t understand freedom of speech, community or human behavior.
Caroline Orr Bueno, Ph.D @RVAwonk
One thing that keeps me up at night right now is the possibility that Twitter’s potential death spiral will coincide with a major regional/national/global crisis. For better or worse, Twitter is a crucial disaster comms tool, and we don’t have a replacement for it. 1/
What Elon is doing is going to have security implications and consequences. Keep this in mind: Breaking 2FA, the way he laid off huge portion of engineers (which really shows a lack of empathy/care), and having his security team effectively resign, is all seriously bad news.
@christapeterso
i spent 2 hours curating a twitter blue screenshot storyline for my parents so here u go, for your own offline friends that want to have fun:
Normally Amazon would be gearing up for Cyber Monday and the Christmas shopping season. The fact that these layoffs are coming BEFORE the holidays is just about the biggest recession signal you will ever see.