Survival Of The Sh-ttest
Con artistry and “better living through chemistry.” I base this video around the spectacular FTX crash and Kanye’s trainer Harley Pasternak, but it’s about something more. From Amazing Polly.
Call Me Stormy
Finding righteous currents in turbulent times
Archive for the tag “Sam Bankman-Fried”
Unprecedented Collapse of FTX
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.
Athletes Sued Over FTX Fraud
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.’
Bahamas Rounds Up FTX Execs
FTX former CEO Sam Bankman-Fried, co-founder Gary Wang and director of engineering Nishad Singh are understood to be in the Bahamas, where they are now all “under supervision” by the local authorities. What’s not clear? The current location of Dan Friedberg, the company’s chief regulatory officer. Who’s Friedberg?
He was the guy responsible for a 2008 online betting scandal involving the theft of $50 million in bettors’ funds, using “god mode.” He installed a back door in the system and was caught on camera saying as much. He never went to jail and somehow ended up at FTX, where billions are now gone.
Here, he admits to how easy it is to create counterfeit money. This is an interview where he explains how FTX basically stole Nucoin, which is a NuGenesis blockchain currency. Nugenesis is a blockchain run by AI. Very smart. The AI caught FTX stealing Nucoins’ value, so the company’s executives confronted Friedberg about it. More from NuGenesis.
Here is an interview conducted between Hedgeye TV CEO Keith McCullough and veteran investor Marc Cohodes, who was among the first to blow the whistle and expose the shenanigans surrounding FTX. Cohodes clearly delineates SBF as a crook and says the CEO, along with his lieutenants, ran a “massive, money laundering, ponzi scheme fraud with a crypto wrapper.”
Cohodes says he presented these facts to Bloomberg News in July, but they passed on covering the story, saying it would take too long to research. No doubt, they also would have had to run loggerheads with their leftist political allies!
Here, Cohodes calls for Friedberg to be brought in for questioning, saying he could well be the mastermind behind what’s happened at FTX. Cohodes also discusses Silvergate Bank, the La Jolla, California-based bank that held the reserves of FTX. The bank saw its stock — SI — lose nearly 12 percent of its value Thursday on the New York Stock Exchange. Look for continuing losses for financial institutions, especially those that are closely tied to cryptocurrencies.
Cohodes is a legendary short-seller who got involved the hard way — he invested tons of his own money as well as convinced family and friends to invest in Data Access Systems, a fraudulent company that went belly-up. He says he’d love to run the U.S. Securities and Exchange Commission (SEC) — even just for a year or two — to “clean up lots of frauds that are out there.”
Following the collapse of FTX, several other cryptocurrency exchanges teetered on the brink and wrestled with financial instability and possible insolvency. BlockFi has declared bankruptcy and the largest cryptocurrency platform, the Gemini Exchange, run by the Winklevoss Twins, suffered a $563 million rush in outflows on Wednesday vs. $78 million in inflows over the same 24-hour period.
Gemini did not dissolve but took supposedly “temporary” steps to limit customers’ ability to withdraw their funds. You might remember the Winklevoss twins, Cameron and Tyler, from their monumental battle with Mark Zuckerberg over Facebook.
Also on the chopping block: The Salt Lending platform. Again, it has not declared bankruptcy, but has halted withdrawals.”The collapse of FTX has impacted our business,” SALT CEO Shawn Owen said.”Until we are able to determine the extent of this impact with specific details that we feel confident are factually accurate, we have paused deposits and withdrawals on the SALT platform effective immediately.”
Here, Scott Shafer addresses the continuing financial fallout while also addressing rumors of drug-filled sexual romps and an explicit video that could be released later today.
Strange Connections Of FTX
The strange connections of FTX and Sam Bankman-Fried. More from Really Graceful.
Is FTX the modern-day incarnation of the old pedophile blackmail network operated by Jeffrey Epstein? Did FTX CEO Sam Bankman-Fried actually assume some of Epstein’s assets?
We have only seen the tip of the iceberg. It’s actually much worse than you can imagine. Before it’s through, the Joe Biden regime will come tumbling down in disgrace. Or so says silver and cryptocurrency investor John Perez. He’s interviewed here by Seth Holehouse on Man In America.
FTX CEO Captured In Bahamas
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.
Gen Z Soros
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.
