More fallout from the FTX collapse reveals an “unprecedented” disaster, according to new Bankruptcy filings. The House Financial Committee promises investigations. Binance’s CZ explains his perspective and his phone call with Sam. Rumors of a horrible tape involving Sam and his girlfriend Caroline. Mr. Wonderful explains his position with FTX during an interview. More from Robert Gouveia, Esquire.
NFL quarterback Tom Brady and Shark Tank host Kevin O’Leary are among the celebrities named in a class-action lawsuit filed in Miami, Florida. The celebrities all had endorsed FTX, a cryptocurrency firm whose multi-billion dollar bankruptcy has sent shock waves rippling across the globe.
Current estimates are that FTX lost at least $11 billion, although some analysts believe the final tally could be as much as four to five times higher. Coinbase CEO Brian Armstrong wonders how everyone was fooled.
Edwin Garrison of Oklahoma and other FTX investors filed the lawsuit against the celebrities. Those named include not only Brady and O’Leary, but also NBA stars Stephen Curry, Shaquille O’Neal and Udonis Haslem, the Golden State Warriors, high-fashion model Gisele Bundchen, MLB’s Shohei Ohtani and David “Big Papi” Ortiz, and No. 1 women’s rated tennis player Naomi Osaka, as well as the comedian Larry David. More from Robert Gouveia, Esquire.
Cryptocurrency expert Marty Bent describes FTX’s scandal in an interview with Glenn Beck. “Sam Bankman-Fried [SBF]… a wunderkind, that is going to be the next trillionaire and it seems that he was just running a big fraud Ponzi scheme in the literal sense for many years. I’ve been suspicious of SBF and FTX specifically for a bit over a year… Their whole origin story is a bit odd and that starts with Alameda, the trading company. Then FTX spun out of that.”
He continues, “…exchanges will launch what they call an exchange token by Binance has BNB, FTX has FTT… they premine a token… they’ll release that to their users and their users can buy that token… they’ll only release a certain amount to market to freely float and then the hold the rest so they’re able to inflate the value of those tokens pretty easily with some spoof trading… that is what FTX did…” More from Red Voice Media.
Economist Nouriel Roubini has denounced the cryptocurrency market as an “ecosystem that is totally corrupt,” and described some of its big players as “con men” after a major exchange collapse. Speaking at Abu Dhabi Finance Week, he criticized Binance CEO Changpeng Zhao, known as CZ, and called for his crypto exchange to become the subject of careful scrutiny from regulators.
There were “seven Cs of crypto: Concealed, corrupt, crooks, criminals, con men, carnival barkers, and finally, CZ,” Roubini said at a panel hosted by CNBC. Roubini, a New York University professor and chief executive of Roubini Macro Associates, came to prominence after predicting the financial crisis of 2008-09. Wall Street dubbed him ‘Doctor Doom.’
While The New York Times and leftist-leaning media outlets across the United States soft-peddle the multi-billion dollar FTX collapse, the media overseas has presented a more honest and balanced portrait. Here’s a piece from ColdFusion, an Australia-based online media company independently run by Dagogo Altraide since 2009. The work is entitled “The FTX Disaster is Deeper Than You Think.”
Democrat Party has been using Ukraine aid money to fund midterm races using FTX as a money laundering front. The total amount laundered was at least 40 million dollars. Meanwhile, the fugitive CEO of FTX, Sam Bankman-Fried, has been captured and detained in the Bahamas. More from Owen Shroyer, host at InfoWars, with a guest appearance by Mike Adams.
Here, Clif High joins Bix Weir on the Road to Roota to help humanity steer through the near-term chaos. The ponzi scheme surrounding FTX was elaborate and diabolical. The corrupt Democrats didn’t care because they gained currency through FTX, enough funding to run their dirty 2022 campaigns. But many investors saw their fortunes evaporate overnight.
Weir and High have a simple message to share: “Hang on tight!” We’re going to see some rapid-fire financial collapses that will happen rapidly. Many will be burned!
High believes we could see another Great Depression like the one that happened in the 1930s. This colossal failure in cryptocurrencies is akin to the bond market crash that precipitated the Depression. High expects the worst of the upheaval to become evident by mid-December. And he foresees it could take us six years to dig out of the collapse.
Democrats just lost their second biggest donor as his Ponzi scheme blew up. More from The Salty Cracker.
Giving you a rundown on the whole FTX crypto exchange financial drama as well as covering the rather insidious and bigger story about FTX that mainstream media won’t touch. More from Really Graceful.
So you think it’s bad now? Well it may be about to get way worse…What might we expect: Food shortages, rising gas prices, a stock market crash and cryptocurrencies banned by the lamebrain Biden administration. More from RedPill78.
