FTX/Sam Bankman-Fried
Discussion
cc3 said:
U.S. authorities have very long arms if they want to find a way to lock him up they will.
Yes, although Argentina is about as safe as anywhere! Unfortunately their US website is down so it's impossible to see what licences they do hold. I think the SEC and CFTC are very much in "have to be seen to be doing something" mode, rather than anything else though.
Condi said:
cc3 said:
U.S. authorities have very long arms if they want to find a way to lock him up they will.
Yes, although Argentina is about as safe as anywhere! Unfortunately their US website is down so it's impossible to see what licences they do hold. I think the SEC and CFTC are very much in "have to be seen to be doing something" mode, rather than anything else though.
Well she sounds like a good professional who would be trusted to manage your billions - https://twitter.com/QTRResearch/status/15912522234...
Was she on a gap year?
Was she on a gap year?
SWoll said:
Crypto is a huge scam shocker..
I don't think is related entirely to 'Crypto', its just that the Volcker rule does not apply to International Crypto exchanges. That is why, I think that the money held on FTX U.S (and not FTX International) is not as effected.This is a fast-forward replay of almost every Investment Bank in 2008.
If you give young people billions of other peoples money to place bets, eventually, they run out of luck.
People should go to prison, whether they will is not clear because its not yet clear what laws they have broken.
Personally, if I were one of the inner-circle FTX bod at the top of all this, I would be more worried about people that have lost their life savings rather than, the CIA.
Carl_Manchester said:
I don't think is related entirely to 'Crypto', its just that the Volcker rule does not apply to International Crypto exchanges. That is why, I think that the money held on FTX U.S (and not FTX International) is not as effected.
This is a fast-forward replay of almost every Investment Bank in 2008.
If you give young people billions of other peoples money to place bets, eventually, they run out of luck.
People should go to prison, whether they will is not clear because its not yet clear what laws they have broken.
Personally, if I were one of the inner-circle FTX bod at the top of all this, I would be more worried about people that have lost their life savings rather than, the CIA.
I would be worried about the "sort" of people who have lost money they may not be the type to use the courtsThis is a fast-forward replay of almost every Investment Bank in 2008.
If you give young people billions of other peoples money to place bets, eventually, they run out of luck.
People should go to prison, whether they will is not clear because its not yet clear what laws they have broken.
Personally, if I were one of the inner-circle FTX bod at the top of all this, I would be more worried about people that have lost their life savings rather than, the CIA.
Some of the stuff you come across about FTX is unreal 
https://twitter.com/TomBrady/status/15439652535238...
https://twitter.com/TomBrady/status/15439652535238...
FourWheelDrift said:
Hardly surprising, if you look at all the Crypto sponsors of F1 teams every single one of them would have made no money on an investment. - https://twitter.com/FormulaNetflix/status/15905091...
But I bet all their CEOs had premium tickets & passes for Monaco. And let's face it, that's what any F1 sponsorship like this has always been about. Moneytron, Rich Energy, Shannon, Parmalat..... & they're just the ones we know about.
Wash, Rinse, Repeat.
Edited by The Hypno-Toad on Sunday 13th November 11:37
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hstewie said:
hstewie said: Some of the stuff you come across about FTX is unreal
https://twitter.com/TomBrady/status/15439652535238...
The Larry David one on the other hand aged well. https://twitter.com/TomBrady/status/15439652535238...
Didn't it just.
And that's the problem you have when you have celebrities being paid more than most people will ever earn in their lives to promote and endorse people putting large chunks of their life savings into these largely unregulated products.
What could possibly go wrong with that.
And that's the problem you have when you have celebrities being paid more than most people will ever earn in their lives to promote and endorse people putting large chunks of their life savings into these largely unregulated products.
What could possibly go wrong with that.
When Bitcoin first emerged it was always drummed into those that held it to use their own coin storage - that's how you had that guy trying to sift through the tip to look for his old laptop with millions of pounds of coin on it.
What has happened over the years and as Bitcoin has become popular outside of the nerd circles is the rise of the crypto exchange and now people dabbling just buy on an online exchange and never take their coins off the exchange for storage as they should.
The exchanges are behaving in the same way as banks do, they don't have enough cash to back up the coins held - if there is a run on the bank type situation they are essentially fked, just like the banks would if everyone tried to withdraw cash.
The 'bro investors' are getting burned, I can see more of this coming in the near future, another exchange has made an 'accidental' ETH transfer to the wrong address (another exchange curiously) worth $400mil, its a house of cards / ponzy scheme due for collapse.
What has happened over the years and as Bitcoin has become popular outside of the nerd circles is the rise of the crypto exchange and now people dabbling just buy on an online exchange and never take their coins off the exchange for storage as they should.
The exchanges are behaving in the same way as banks do, they don't have enough cash to back up the coins held - if there is a run on the bank type situation they are essentially f
ked, just like the banks would if everyone tried to withdraw cash.The 'bro investors' are getting burned, I can see more of this coming in the near future, another exchange has made an 'accidental' ETH transfer to the wrong address (another exchange curiously) worth $400mil, its a house of cards / ponzy scheme due for collapse.
pquinn said:
bhstewie said:
hstewie said: Some of the stuff you come across about FTX is unreal
https://twitter.com/TomBrady/status/15439652535238...
The Larry David one on the other hand aged well. https://twitter.com/TomBrady/status/15439652535238...
Liked that. Plus the constitution bit.Warren Buffet and Charlie Munger on crypto currencies in 2018.
https://twitter.com/Stephen_Geiger/status/15915024...
https://twitter.com/Stephen_Geiger/status/15915024...
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