Sam Bankman Fried Apologizes

Reminder:
“Bitcoin Moderates” told you to put your money in FTX and BlockFi.
Still think it’s Maximalists who are toxic?

Uncertain US regulations drove 95% of trading activities offshore,
all Thanks to Gary but that also left  FTX.us customers unaffected!

Tom Emmer @RepTomEmmer
Interesting. @GaryGensler runs to the media while reports to my office allege he was helping SBF and FTX work on legal loopholes to obtain a regulatory monopoly. We’re looking into this.
@GaryGensler I’ll be joining @andrewrsorkin on @SquawkCNBC at 8:00am ET to discuss recent developments in the crypto markets.

HOLY SHIT In front of a room of lawmakers…

SBF @SBF_FTX Sam Bankman Fried Apologizes

1 though 15
https://twitter.com/SBF_FTX/status/1590709166515310593

Take away
[THIS IS ALL ABOUT FTX INTERNATIONAL, THE NON-US EXCHANGE. FTX US USERS ARE FINE!]

ending with

15) First, one way or another, Alameda Research is winding down trading.

–//–

FatMan @FatManTerra
After Hodlnaut defrauded their customers by secretly putting everything into UST, the court-appointed judicial managers stored the leftover funds for creditors in various places for safekeeping… Including $13m in FTX. RIP, double rugged.

FTX tapped into client accounts to fund risky bets, WSJ reports.
FTX HAD $16 BILLION IN CUSTOMER ASSETS; FTX LENT MORE THAN HALF OF ITS CUSTOMER FUNDS TO ITS SISTER COMPANY ALAMEDA – WSJ
Being that causal about stealing $8B of customer deposits and lending it out without their consent is disgusting.

FTX Japan ordered to stop operations!

Tether
Begins Freezing FTX USDT at the Request of Law Enforcement While Investigations Occur: Tether Exec
Tether freezes $46 million $USDT linked to an FTX address at the request of law enforcement, CoinDesk reports.

@JasonPLowery
“Have fun staying poor” wasn’t just a meme.

Lea Kissner @LeaKissner (Now former) CISO @Twitter Privacy eng, security, crypto & build respect. they/them
I’ve made the hard decision to leave Twitter. I’ve had the opportunity to work with amazing people and I’m so proud of the privacy, security, and IT teams and the work we’ve done.
I’m looking forward to figuring out what’s next, starting with my reviews for @USENIXSecurity

The youth saved our ass, now it’s time to put them in office.