FTX/Sam Bankman-Fried
Discussion
Lawsuits have been launched against Bankman-Fried plus some of the celebrities who endorsed FTX too.
US lawsuit launched against FTX founder and celebrity backers
US lawsuit launched against FTX founder and celebrity backers
z4RRSchris said:
cc3 said:
Agree amazing how people fall for the marketing hype.
it’s very strong marketing, EVERYONE is making money doing nothing and you are missing out. and it’s so f
king volatile the success is ultra quick. bit like unregulated spread betting, the same suckers have probably moved from that to crypto
I see her article linked all the time.
She's only making money if she's taking it out and there's too much of a temptation to keep it in and trade and make more and trade that and make more. Then the crash.
"cryptocurrencies have always been fundamentally unsound long-term investments. History tells us that negative-sum assets with no use value cannot hold their value indefinitely" - Economics Observatory
"cryptocurrencies have always been fundamentally unsound long-term investments. History tells us that negative-sum assets with no use value cannot hold their value indefinitely" - Economics Observatory
digger_R said:
I haven't watched the video - but i said long ago in the crypto thread that my view was that the current crypto cycle was a means to bring in CBDCs and to normalize their use. At the same times as being a very systematic way to fleece users.
As I say, there is no way with his people skills they got to where they were without a lot of doors being opened and a lot of money coming from high places. Order flow last year showed some very suspect behaviour coming out of FTX.
Can you give a short summary of what he says in there?
Yeah, sure.As I say, there is no way with his people skills they got to where they were without a lot of doors being opened and a lot of money coming from high places. Order flow last year showed some very suspect behaviour coming out of FTX.
Can you give a short summary of what he says in there?
Basically SBF came from nowhere, was championed by Jim Cramer, Fortune magazine, rubbed shoulders with Bill Clinton, Tony Blair, etc. He was essentially given legitimacy by people in very high places from the off.
SBF is the son of Barbara Fried & Joseph Bankman, the nephew of Lina Fried and the brother of Gabe Fried. His girlfriend who ran Alameda (essentially the market maker) was the daughter of Glenn Ellison, a professor of economics at MIT and the former boss of Gary Gensler who is now the head at SEC.
Both of SBF's parents are both attorneys, Barbara Fried's area of expertise is tax policy and Joseph Bankman's is again tax, tax shelters and testified to Congress about the problems posed by the cash economy. They were "bundlers" for donations to the Democrat party so are very connected. Gabe Fried had set up a not for profit advocacy that again worked to collect donations for the democrats and then lobbied them to handle government money to distribute to organisations involved in pandemic preparedness. Essentially has entire family were left leaning and heavy donators to the Democrat party. His aunt was a WEF epidemiology partner and former Director at John Hopkins.
That kinda set the scene about the relationships of those players and their connections with the Democrats.
The US government hate Crypto, because they don't control it. The dot joining basically goes that Gensler wanted to regulate Crypto and the US government wants to wipe out all the main players so they could control it. SBF was given the tools to do both and lure in the "biggie" (Binance). They took out Terra Luna, then Voyager, then Celcius. then 3 Arrows Capital and in doing so Alameda also took some collateral damage. SBF moved funds to prop up Alameda and that essentially was how they went pop.
Binance knew what was going on, knew that FTX had been given clearance to run the sole US Crypto derivatives exchange (bait) and were approached to buy out FTX but didn't take it. If they had, the US would have full access to Binance's books (and they're a Chinese company)
Mark explains this in far better and in far greater detail than I ever could, there's the connection with the war in Ukraine, the siphoning of funds back to the democrats and how that all worked, the other players in the story, the US's gunning for Tether and how that fits in, the timing of this being initiated with the announcement of Joe Biden's presidential campaign and probably a whole bunch of stuff that I've forgotten to list.
tldr: Was this the story of geeky entrepreneur screwing up? Was it b
ks. The US government were up to their neck in this.
dangerousB said:
Yeah, sure.
Basically SBF came from nowhere, was championed by Jim Cramer, Fortune magazine, rubbed shoulders with Bill Clinton, Tony Blair, etc. He was essentially given legitimacy by people in very high places from the off.
SBF is the son of Barbara Fried & Joseph Bankman, the nephew of Lina Fried and the brother of Gabe Fried. His girlfriend who ran Alameda (essentially the market maker) was the daughter of Glenn Ellison, a professor of economics at MIT and the former boss of Gary Gensler who is now the head at SEC.
Both of SBF's parents are both attorneys, Barbara Fried's area of expertise is tax policy and Joseph Bankman's is again tax, tax shelters and testified to Congress about the problems posed by the cash economy. They were "bundlers" for donations to the Democrat party so are very connected. Gabe Fried had set up a not for profit advocacy that again worked to collect donations for the democrats and then lobbied them to handle government money to distribute to organisations involved in pandemic preparedness. Essentially has entire family were left leaning and heavy donators to the Democrat party. His aunt was a WEF epidemiology partner and former Director at John Hopkins.
That kinda set the scene about the relationships of those players and their connections with the Democrats.
The US government hate Crypto, because they don't control it. The dot joining basically goes that Gensler wanted to regulate Crypto and the US government wants to wipe out all the main players so they could control it. SBF was given the tools to do both and lure in the "biggie" (Binance). They took out Terra Luna, then Voyager, then Celcius. then 3 Arrows Capital and in doing so Alameda also took some collateral damage. SBF moved funds to prop up Alameda and that essentially was how they went pop.
Binance knew what was going on, knew that FTX had been given clearance to run the sole US Crypto derivatives exchange (bait) and were approached to buy out FTX but didn't take it. If they had, the US would have full access to Binance's books (and they're a Chinese company)
Mark explains this in far better and in far greater detail than I ever could, there's the connection with the war in Ukraine, the siphoning of funds back to the democrats and how that all worked, the other players in the story, the US's gunning for Tether and how that fits in, the timing of this being initiated with the announcement of Joe Biden's presidential campaign and probably a whole bunch of stuff that I've forgotten to list.
tldr: Was this the story of geeky entrepreneur screwing up? Was it bks. The US government were up to their neck in this.
Eh - I think this is far too complex. Cock-up not conspiracy.Basically SBF came from nowhere, was championed by Jim Cramer, Fortune magazine, rubbed shoulders with Bill Clinton, Tony Blair, etc. He was essentially given legitimacy by people in very high places from the off.
SBF is the son of Barbara Fried & Joseph Bankman, the nephew of Lina Fried and the brother of Gabe Fried. His girlfriend who ran Alameda (essentially the market maker) was the daughter of Glenn Ellison, a professor of economics at MIT and the former boss of Gary Gensler who is now the head at SEC.
Both of SBF's parents are both attorneys, Barbara Fried's area of expertise is tax policy and Joseph Bankman's is again tax, tax shelters and testified to Congress about the problems posed by the cash economy. They were "bundlers" for donations to the Democrat party so are very connected. Gabe Fried had set up a not for profit advocacy that again worked to collect donations for the democrats and then lobbied them to handle government money to distribute to organisations involved in pandemic preparedness. Essentially has entire family were left leaning and heavy donators to the Democrat party. His aunt was a WEF epidemiology partner and former Director at John Hopkins.
That kinda set the scene about the relationships of those players and their connections with the Democrats.
The US government hate Crypto, because they don't control it. The dot joining basically goes that Gensler wanted to regulate Crypto and the US government wants to wipe out all the main players so they could control it. SBF was given the tools to do both and lure in the "biggie" (Binance). They took out Terra Luna, then Voyager, then Celcius. then 3 Arrows Capital and in doing so Alameda also took some collateral damage. SBF moved funds to prop up Alameda and that essentially was how they went pop.
Binance knew what was going on, knew that FTX had been given clearance to run the sole US Crypto derivatives exchange (bait) and were approached to buy out FTX but didn't take it. If they had, the US would have full access to Binance's books (and they're a Chinese company)
Mark explains this in far better and in far greater detail than I ever could, there's the connection with the war in Ukraine, the siphoning of funds back to the democrats and how that all worked, the other players in the story, the US's gunning for Tether and how that fits in, the timing of this being initiated with the announcement of Joe Biden's presidential campaign and probably a whole bunch of stuff that I've forgotten to list.
tldr: Was this the story of geeky entrepreneur screwing up? Was it b
ks. The US government were up to their neck in this.I think they are the classic example of someone who correctly, but flukily, calls 'heads' and double downs their bets - everyone thinks they are a genius, until one day it is tails.
https://milkyeggs.com/?p=175
for a cock-up version, rather than conspiracy version
Edited by wisbech on Thursday 17th November 06:31
mids said:
He's got to end up in jail hasn't he?bhstewie said:
hstewie said:mids said:
He's got to end up in jail hasn't he?wisbech said:
dangerousB said:
stuff
Eh - I think this is far too complex. Cock-up not conspiracy.I think they are the classic example of someone who correctly, but flukily, calls 'heads' and double downs their bets - everyone thinks they are a genius, until one day it is tails.
https://milkyeggs.com/?p=175
for a cock-up version, rather than conspiracy version
I think the dollar is in its death throes as the world reserve currency - the BRICS are getting themselves together, Saudi are siding with them and if the petrodollar gets torn up, America as the world's superpower is toast. Desperate times call for desperate measures and I think the US is getting desperate.
The s
tstorms we are currently witnessing (Covid response, Ukraine, crypto chaos, "climate change" movement and the pivot away from oil, Dutch/Canadian farmers' struggle against their government's to name but a few) around the world are by design and have everything to do with that West vs BRICS+ power struggle. Just as an aside I do wonder just how much longer Zelenskyy is going to be the golden boy now that their bilateral economic conduit has gone up in smoke - I see that less than a week after FTX's demise a That's without even talking about the MSM and their role in disseminating the narrative. What's shown and reported is very much what we are meant to be shown and understood as the truth. If you believe in the veracity of the western MSM, sure, nerdy amphetamine fuelled geek and his mates got lucky and created a 24 billion empire in 3 years and just screwed up. Plausible, unlikely but not impossible. Certainly when viewed from afar and without any of the accompanying facts - I see the NYT has already got in with a puff piece to that effect. How lucky they were to get access to him.
Let's just not talk about all the other stuff though, eh? Explaining coincidence after coincidence makes it difficult.
easytiger123 said:
bhstewie said:
hstewie said:mids said:
He's got to end up in jail hasn't he?I'm just impressed that the guy is somehow still connected enough that he hasn't really has any fallout yet and still has some major news outlets writing sympathetic puff pieces.
It's not like he's exactly charming or well presented or even doing much of a PR job himself so makes you wonder what's motivating anyone to be nice towards him now. Or even originally.
It's not like he's exactly charming or well presented or even doing much of a PR job himself so makes you wonder what's motivating anyone to be nice towards him now. Or even originally.
pquinn said:
I'm just impressed that the guy is somehow still connected enough that he hasn't really has any fallout yet and still has some major news outlets writing sympathetic puff pieces.
It's not like he's exactly charming or well presented or even doing much of a PR job himself so makes you wonder what's motivating anyone to be nice towards him now. Or even originally.
It's not like he's exactly charming or well presented or even doing much of a PR job himself so makes you wonder what's motivating anyone to be nice towards him now. Or even originally.
That hasn't been lost on me either.
Careful though, with talk like that you'll only encourage people to hurl insults at you about Lizard overlords and tinfoil hats.
dangerousB said:
<snip>
Mark explains this in far better and in far greater detail than I ever could, there's the connection with the war in Ukraine, the siphoning of funds back to the democrats and how that all worked, the other players in the story, the US's gunning for Tether and how that fits in, the timing of this being initiated with the announcement of Joe Biden's presidential campaign and probably a whole bunch of stuff that I've forgotten to list.
tldr: Was this the story of geeky entrepreneur screwing up? Was it bks. The US government were up to their neck in this.
How does FTX being at least as big a donor to the GoP fit in, other than donating to both parties is what corporate america does to curry favour with whatever flavour of govt is in power?Mark explains this in far better and in far greater detail than I ever could, there's the connection with the war in Ukraine, the siphoning of funds back to the democrats and how that all worked, the other players in the story, the US's gunning for Tether and how that fits in, the timing of this being initiated with the announcement of Joe Biden's presidential campaign and probably a whole bunch of stuff that I've forgotten to list.
tldr: Was this the story of geeky entrepreneur screwing up? Was it b
ks. The US government were up to their neck in this.Petrus1983 said:
Starting to wonder if infact Caroline Ellison is the geeky criminal mastermind afterall. The female Keyser Söze.
The greatest trick the devil ever pulled was convincing the world she was a sultry wood elf.ETA: Nymph! Not elf. Elf would be silly.
Edited by SpeckledJim on Thursday 17th November 13:49
Condi said:
dangerousB said:
Careful though, with talk like that you'll only encourage people to hurl insults at you about Lizard overlords and tinfoil hats.
Do you honestly believe there is a "plan" and the world events are "controlled"? The world is full of idiots who are greedy, that's all. Quite a low proportion of idiots - I hardly meet any on a daily basis. Unfortunately it’s generally the colossal idiots who have the self belief necessary to make it to the top in politics or finance.
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