Author Topic: So, FTX & Alameda  (Read 2836 times)

Perd Hapley

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So, FTX & Alameda
« on: November 21, 2022, 05:26:17 PM »
Here's what the kids call an "explainer" about all this talk of FTXs and cryptocurrencies and such.

https://www.nationalreview.com/the-morning-jolt/

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An MIT physics grad, SBF [Sam Bankman-Fraud] honed his trading skills at renowned quant shop Jane Street Capital before launching a successful firm of his own, Alameda Research. In 2019 he founded crypto exchange FTX, hailed by some as the best derivatives platform ever built.

As recently as September, FTX was believed to be worth $32 billion. In addition to running the cryptocurrency exchange FTX, Bankman-Fried continued to run Alameda Research. This is like having the same person running the New York Stock Exchange and Bridgewater Associates, to pick a market and a hedge fund that are familiar to most people.

Here's a quotation from someone who is apparently a finance janitor, who makes his living cleaning up unholy finance messes:
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Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.

And a little color:
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“Employees of the FTX Group submitted payment requests through an on-line ‘chat’ platform where a disparate group of supervisors approved disbursements by responding with personalized emojis.”
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Angel Eyes

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Re: So, FTX & Alameda
« Reply #1 on: November 21, 2022, 05:29:14 PM »
For those with an aversion to reading:

https://www.youtube.com/watch?v=20BEJouWBgY
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Angel Eyes

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Re: So, FTX & Alameda
« Reply #2 on: November 21, 2022, 06:12:57 PM »
""If you elect me, your taxes are going to be raised, not cut."
                         - master strategist Joe Biden

Ben

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Re: So, FTX & Alameda
« Reply #3 on: November 21, 2022, 06:39:18 PM »
The whole ball of wax is odd, and democrats and Ukraine are neck deep in it.

I also saw that FTX was a, if not the, major donor into research that put the kibosh on ivermectin, while investing heavily in other drug developments for covid.
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Angel Eyes

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Re: So, FTX & Alameda
« Reply #4 on: November 22, 2022, 09:06:37 AM »
""If you elect me, your taxes are going to be raised, not cut."
                         - master strategist Joe Biden

WLJ

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Re: So, FTX & Alameda
« Reply #5 on: November 22, 2022, 09:09:51 AM »
Sam Bankman-Fried did not kill himself


BTW: Dashes in names bug me.
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Angel Eyes

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Re: So, FTX & Alameda
« Reply #6 on: November 22, 2022, 09:12:24 AM »
BTW: Dashes in names bug me.

Like Ocasio-Cortez?

Or Rodham-Clinton?
""If you elect me, your taxes are going to be raised, not cut."
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WLJ

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Re: So, FTX & Alameda
« Reply #7 on: November 22, 2022, 09:13:14 AM »
Like Ocasio-Cortez?

Or Rodham-Clinton?

Notice a pattern?
"Sometimes I think the surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us".
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Angel Eyes

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Re: So, FTX & Alameda
« Reply #8 on: December 12, 2022, 10:29:07 PM »
""If you elect me, your taxes are going to be raised, not cut."
                         - master strategist Joe Biden

WLJ

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Re: So, FTX & Alameda
« Reply #9 on: December 13, 2022, 07:02:05 AM »
She just wanted to date him

AOC ‘disappointed’ Sam Bankman-Fried was arrested a day before she could question him
https://twitchy.com/dougp-3137/2022/12/12/aoc-disappointed-sam-bankman-fried-was-arrested-a-day-before-she-could-question-him/
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Ben

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Re: So, FTX & Alameda
« Reply #10 on: December 13, 2022, 08:44:28 AM »
Arrested a day before congressional testimony. How convenient (for certain dems). Maxine Waters wasn't even hiding her bias in statements she made.

"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

Angel Eyes

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""If you elect me, your taxes are going to be raised, not cut."
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WLJ

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Re: So, FTX & Alameda
« Reply #12 on: December 13, 2022, 07:23:55 PM »
Bets on him hanging "himself", the cameras not working, and the guard(s) just so happened to take an extended break that night.
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Northwoods

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Re: So, FTX & Alameda
« Reply #13 on: December 13, 2022, 11:14:28 PM »
Epstein SBF didn’t kill himself. 
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Ben

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Re: So, FTX & Alameda
« Reply #14 on: December 14, 2022, 10:20:50 AM »
They probably need to have hearings all over again in 2023, after Waters is demoted or removed from her committee.

https://twitchy.com/sarahd-313035/2022/12/14/guess-maxine-waters-forgot-the-rules-because-she-tried-to-end-ftx-hearing-before-gop-rep-could-inquire/
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Ben

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Re: So, FTX & Alameda
« Reply #15 on: July 27, 2023, 05:55:15 PM »
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

K Frame

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Re: So, FTX & Alameda
« Reply #16 on: July 28, 2023, 07:00:34 AM »
Still facing a bunch of charges that could put him in prison for a long, long time.
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WLJ

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Re: So, FTX & Alameda
« Reply #17 on: March 28, 2024, 12:48:45 PM »
Still facing a bunch of charges that could put him in prison for a long, long time.

25 years

Sam Bankman-Fried sentencing: Sam Bankman Fried is jailed for 25 YEARS for $8bn crypto fraud, as FTX scammer ignores grim-faced parents in court and judge slams him for perjury
https://www.dailymail.co.uk/news/article-13248579/SBF-Sam-Bankman-Fried-court-FTX-setencing-prison-hearing-case.html
"Sometimes I think the surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us".
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