TUFKAK Posted November 22, 2022 Share Posted November 22, 2022 47 minutes ago, CayceG said: 5'6" here. Short kings rise up. On topic, what does all this mean for Bitcoin itself? I know it's falling too, but is it in any danger that anyone can tell? Other than it being modern day tulips no nothing at all. Also jealous of 5’6 Quote Link to comment Share on other sites More sharing options...
Anathema- Posted November 22, 2022 Share Posted November 22, 2022 27 minutes ago, SuperSpreader said: Do you think about asking how the weather is up there? One of my mantras is to avoid being trite. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted November 22, 2022 Share Posted November 22, 2022 56 minutes ago, Anathema- said: One of my mantras is to avoid being trite. I don't know what that word means and I don't care to. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted November 23, 2022 Share Posted November 23, 2022 Sam Bankman-Fried, Elon Musk, and a secret text | Semafor WWW.SEMAFOR.COM Bankman-Fried gushed about a Musk-run Twitter, and Musk invited him to roll his $100 million stake into the deal. Lmao 1 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted November 28, 2022 Author Share Posted November 28, 2022 Crypto firm BlockFi files for bankruptcy as FTX fallout spreads WWW.CNBC.COM BlockFi was one of the first firms to be "rescued" by former billionaire Sam Bankman-Fried's FTX earlier this year. Quote Distressed crypto firm BlockFi has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey following the implosion of putative acquirer FTX. In the filing, the company indicated that it had more than 100,000 creditors, with liabilities and assets ranging from $1 billion to $10 billion. In the filing, the company listed an outstanding $275 million loan to FTX US, the American arm of Sam Bankman-Fried’s now-bankrupt empire. Like FTX, BlockFi also has a Bahamian subsidiary. That subsidiary moved for bankruptcy in the Bahamas concurrently with the American filing. BlockFi’s bankruptcy filing shows that the company’s largest disclosed client has a balance of nearly $28 million. As the Financial Times's Alphaville put it succinctly: Quote Welcome, BlockFi! 1 Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted November 28, 2022 Share Posted November 28, 2022 HHHHNNNNNNGGGGGGGG Quote Link to comment Share on other sites More sharing options...
ort Posted November 28, 2022 Share Posted November 28, 2022 Yeah, I had money in Blockfi. Last Christmas, my tech-nerd bosses thought it would be fun to give everyone $1,000 in bitcoin as an xmas gift. I'm not the biggest crypto fan, so I kinda rolled my eyes and said, sure, I'll dump it in an account and in 20 years, we'll see. I'll pretend it doesn't exist. It almost instantly cratered in value and went from $1,000 to like $500 and now it's worth about $300... but it looks like I will never see that money again. I don't have to pretend it doesn't exist anymore, it actually doesn't! Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted November 28, 2022 Author Share Posted November 28, 2022 Bahamas AG Gets Defensive as FTX Investors Ask About Sam Bankman-Fried GIZMODO.COM SBF is still a free man while FTX users want to know where the billions went. Quote The Attorney General of the Bahamas, L. Ryan Pinder, released a video statement on Sunday night about the investigation into crypto platform FTX, which was based in the Bahamas before it imploded earlier this month, taking billions of dollars with it. And at least one thing is clear: Pinder knows investors in FTX think the government in the Bahamas didn’t do its job. Pinder went on the defensive in the new video, insisting the Bahamian rule of law is strong and that other countries have also seen crypto companies fail in spectacular fashion lately (he’s not wrong there). But Pinder didn’t tip his hand about what might happen to Sam Bankman-Fried, the FTX founder commonly known as SBF, who’s reportedly still living in the island nation. “The Bahamas is a place of laws. The rule of law and the exercise of due process characterize the integrity of our jurisdiction,” Pinder said opening his 23-minute video, which was streamed on Facebook. FTX filed for bankruptcy over two weeks ago in Delaware court. Bahamian regulators have challenged that filing, arguing that FTX was not legally permitted to file for bankruptcy in the U.S. and that at least part of the reorganization of the company falls under their authority. The Bahamas is infamous as a tax haven for the ultra-wealthy from around the world and has been actively courting crypto companies in recent years to set up shop in the former British colony. Many in the crypto world are wondering why Sam Bankman-Fried is still living as a free man in the Bahamas. Bankman-Fried reportedly was using customer deposits from FTX to make risky investments via his hedge fund Alameda Research, apparently losing billions of dollars in the process. Bankman-Fried has more or less admitted to the behavior in media interviews and tweets, though questions of exact amounts and where all that money went are still unanswered. Pinder was quick to note during his video stream that Alameda Research wasn’t regulated in the Bahamas, unlike FTX, which was registered to do business there. Pinder also praised the Bahamas Securities Commission for moving “swiftly” to suspend FTX’s business license and appoint liquidators in the company, which was only recently valued at $32 billion. “The Commission was the first regulator in the world to take significant steps with respect to the FTX group of companies,” Pinder said, referring to the seizure of cryptocurrencies held by FTX. But Pinder said the “basic facts” of the case have been “obscured by guessing games and rumors.” Pinder kept insisting that his office is in the “early stages” of its “very complex” investigation into FTX. FTX Tensions Intensify as Bahamas Blasts Company’s New Chief Ray FINANCE.YAHOO.COM (Bloomberg) -- The Bahamian government blasted the person in charge of restructuring crypto exchange FTX, the latest salvo in an escalating fight over what remains of Sam Bankman-Fried’s crumbled empire. Most Read from BloombergNext Covid-19 Strain May be More Dangerous, Lab Study ShowsApple to Lose 6 Million iPhone Pros From Tumult at China PlantKey Trump 2024 Rivals Silent After His White Supremacist MeetingBahamas Attorney... Quote The Bahamian government blasted the person in charge of restructuring crypto exchange FTX, the latest salvo in an escalating fight over what remains of Sam Bankman-Fried’s crumbled empire. Bahamas Attorney General Ryan Pinder on Sunday said that recent statements made in US bankruptcy proceedings by John J. Ray III were “regrettable” and misrepresented actions taken by the nation’s securities watchdog. Ray, a turnaround and restructuring expert, is also acting as FTX’s chief executive officer. “It is possible that the prospect of multimillion dollar legal and consultant fees is driving both their legal strategy and the intemperate statements,” Pinder, who is also a senator, said in a video address. “In any case, we urge prudence and accuracy in all future filings,” he added. Tensions have been rising after more than 100 FTX companies filed for bankruptcy in the US on Nov. 11. A major source of conflict has been the Bahamas regulator’s move to then seize the digital assets of the local FTX unit. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted December 8, 2022 Author Share Posted December 8, 2022 FTX spokesman Kevin O'Leary says he lost his $15 million payday from crypto firm WWW.CNBC.COM Kevin O'Leary made millions as an FTX spokesman, but he says he's lost it all after the bankruptcy of the crypto exchange. Quote Investor, "Shark Tank" judge and CNBC contributor Kevin O'Leary said Thursday he's lost all of the $15 million FTX paid him to act as a spokesman for the now-collapsed crypto exchange that some have called fraudulent. O'Leary and other celebrities, such as Tom Brady and Larry David, were sued by FTX investors who say the exchange's ambassadors should have done more due diligence and exercised a greater level of care before promoting the crypto empire. The Canadian investor was grilled by CNBC's "Squawk Box″ hosts over his failure to properly assess the risks associated with investing and promoting FTX. O'Leary said that he fell prey to "groupthink," and that none of his investment partners had lost money. "Total deal was just under $15 million, all in," O'Leary said. "I put about $9.7 million into crypto. I think that's what I lost. I don't know. It's all at zero." 1 1 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted December 8, 2022 Author Share Posted December 8, 2022 House Financial Services Chair Waters doesn't plan to subpoena Sam Bankman-Fried to testify at hearing on FTX collapse WWW.CNBC.COM House Financial Services Chair Maxine Waters tells members there are no current plans to subpoena FTX founder Sam Bankman-Fried for his testimony. Shot: Quote House Financial Services Committee Chair Maxine Waters told the panel’s Democrats she doesn’t plan to subpoena former FTX CEO Sam Bankman-Fried to testify at a Dec. 13 hearing about the crypto exchange’s rapid demise, according to people with direct knowledge of the conversation. Waters informed committee members of her decision at a private meeting Tuesday with Securities and Exchange Commission Chair Gary Gensler on Capitol Hill, these people said, declining to be named in order to speak freely about the private discussion. Waters said she wants committee staff to try to persuade Bankman-Fried to voluntarily testify, those with knowledge of the meeting said. As of late Wednesday, Bankman-Fried has yet to agree to testify before the House committee, two of the people said. Chaser: Quote After CNBC published this article Wednesday night, Waters took issue with the story and said a “subpoena is definitely on the table.” Waters didn’t deny that she told Democrats she didn’t plan to subpoena Bankman-Fried, and a committee spokeswoman declined to comment. 4 Quote Link to comment Share on other sites More sharing options...
Ghost_MH Posted December 8, 2022 Share Posted December 8, 2022 2 hours ago, Commissar SFLUFAN said: House Financial Services Chair Waters doesn't plan to subpoena Sam Bankman-Fried to testify at hearing on FTX collapse WWW.CNBC.COM House Financial Services Chair Maxine Waters tells members there are no current plans to subpoena FTX founder Sam Bankman-Fried for his testimony. Shot: Chaser: Why should anyone care about this crypto bro's influence over anything at this point? Are there still people wowed by his ability to do a shitty job running meetings while playing LoL? Quote Link to comment Share on other sites More sharing options...
Guest Posted December 8, 2022 Share Posted December 8, 2022 5 minutes ago, Ghost_MH said: Why should anyone care about this crypto bro's influence over anything at this point? Are there still people wowed by his ability to do a shitty job running meetings while playing LoL? Dude for sure knows where some crypto bodies are buried, he’s deep in that nonsense Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted December 13, 2022 Author Share Posted December 13, 2022 About bloody time. FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges WWW.CNBC.COM Bankman-Fried's arrest is the first concrete move by regulators to hold individuals accountable for the multi-billion dollar implosion of FTX last month. Quote FTX founder Sam Bankman-Fried was arrested by Bahamian authorities this evening after the United States Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government, setting the stage for extradition and U.S. trial for the onetime crypto billionaire at the heart of the crypto exchange’s collapse. Bankman-Fried was expected to testify before the House Financial Services Committee on Tuesday. His arrest is the first concrete move by regulators to hold individuals accountable for the multi-billion dollar implosion of FTX last month. 1 1 Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted December 13, 2022 Author Share Posted December 13, 2022 OLOLOLOLOLOLOLOLOLOLO: Quote When pressed on Twitter Spaces about whether his refusal to appear in person [to testify in front of the House committee] was due to a fear of being arrested, Bankman-Fried responded that he was deterred by the “paparazzi.” “I don’t think I will be arrested,” Bankman-Fried told the more than 19,000 Twitter users who tuned in to the interview. The Post has sought comment from Bankman-Fried. During the Twitter Spaces interview, Bankman-Fried admitted he was playing video games, which were causing the clicking sounds heard in the background He was TOTALLY playing League of Legends while being arrested 2 Quote Link to comment Share on other sites More sharing options...
Chris- Posted December 13, 2022 Share Posted December 13, 2022 The gamer's requiem. Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted December 13, 2022 Share Posted December 13, 2022 OWNED LMAO Quote Link to comment Share on other sites More sharing options...
Keyser_Soze Posted December 13, 2022 Share Posted December 13, 2022 2 hours ago, Commissar SFLUFAN said: He was TOTALLY playing League of Legends while being arrested Speaking of which it sounds like they finally rolled out the game pass benefits for that where it unlocks all perks for riot games. Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted December 13, 2022 Share Posted December 13, 2022 4 hours ago, Commissar SFLUFAN said: OLOLOLOLOLOLOLOLOLOLO: He was TOTALLY playing League of Legends while being arrested SWAT on comms worried about who’s covering mid lane and SBF didn’t realize it was IRL Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted December 15, 2022 Author Share Posted December 15, 2022 Things are going just swimmingly at the company that effectively started the ball rolling towards the FTX debacle: Binance's Alleged Crypto Audit Failed, Not Even Its Auditor Would Vouch For It Quote The pseudo audit was by Mazars, a mid-tier global accounting firm according to the Wall Street Journal. "Its U.S. arm Mazars USA previously worked for former President Donald Trump’s company. Earlier this year Mazars USA said it would withdraw from its work for Mr. Trump’s company and could no longer stand by financial statements it had previously prepared. Binance didn’t specify which of Mazar’s offices would be doing the verification of the reserves. A Mazars spokesman declined comment." Quote Mazars said it performed its work using “agreed-upon procedures” requested by Binance and that “we make no representation regarding the appropriateness” of the procedures. The report didn’t show total assets or total liabilities. Rather, its scope was limited only to bitcoin assets and bitcoin liabilities. Binance said it would begin releasing information about other crypto tokens in the coming weeks. Binance’s proof-of-reserves is just another black box QZ.COM The exchange's "audit" didn't do much to calm skeptics Quote Former SEC regulator John Stark told Decrypt that there were several red flags with the audit, including using Mazar, instead of a big-four auditing firm, and being able to dictate the terms of the audit. Mazar also did not issue an official opinion on the effectiveness of the audit it performed. For its part, Binance said that it had contacted Deloitte, Ernst & Young, KPMG, and PricewaterhouseCoopers, but said that the firms were hesitant to conduct a “proof of custody” report for a private exchange. “As a result, we contacted Mazars, who has experience working in the crypto space, to conduct an ‘agreed upon procedures’ (AUP) analysis similar to what Kraken publishes,” the Binance spokesperson said. “AUP is the term accounting firms use when they’re hired to do a specific test or to review a business process, rather than do a full company audit.” The future of Binance’s finances are also in question as the US Department of Justice (DOJ) weighs charging the exchange with anti-money laundering and sanctions violations, according to a new report in Reuters. Speaking as a CPA, I can assure you that an "agreed-upon-procedures" (AUP) engagement is MOST DEFINITELY NOT an "audit" because the firm conducting them does not express any opinion or assurances about the data being analyzed whatsoever. I personally consider such an engagement to be a waste of everyone's time and money. Let's see how investors are reacting to this news: Binance withdrawals jump to $3 billion in 24 hours, research firm says | CNN Business WWW.CNN.COM Investors withdrew as much as $3 billion from Binance on Tuesday, according to blockchain analytics firm Nansen, as a deluge of negative headlines about the cryptocurrency industry rattled users of the world's largest exchange. Quote Investors withdrew as much as $3 billion from Binance on Tuesday, according to blockchain analytics firm Nansen, as a deluge of negative headlines about the cryptocurrency industry rattled users of the world’s largest exchange. Andrew Thurman, content lead for Nansen, told CNN that at its peak, Binance saw “as high as $3 billion in net outflows” over a 24-hour period. A report about an ongoing investigation by the US Justice Department into the exchange was a factor in investors’ nervousness, he said. “Concurrently, a large market maker, Jump, was found to have withdrawn huge sums from Binance with no deposits over the past few weeks — ultimately seems to have caused jitters among both retail and institutional users,” Thurman said. “In short, it’s a lot of money headed out, and that’s spooked some folks.” 1 1 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted December 15, 2022 Share Posted December 15, 2022 What's the difference between binance and ftx Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted December 15, 2022 Share Posted December 15, 2022 Just now, SuperSpreader said: What's the difference between binance and ftx Explain it to me like I'm 4 and I don't care Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted December 15, 2022 Author Share Posted December 15, 2022 Just now, SuperSpreader said: What's the difference between binance and ftx Just now, SuperSpreader said: Explain it to me like I'm 4 and I don't care One is currently bankrupt and the other isn't yet. Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted December 15, 2022 Share Posted December 15, 2022 Just now, Commissar SFLUFAN said: One is currently bankrupt and the other isn't yet. Are they like competitors or related? I guess I'm wondering if other crypto holders are falling that are unconnected directly to ftx Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted December 15, 2022 Author Share Posted December 15, 2022 12 minutes ago, SuperSpreader said: Are they like competitors or related? I guess I'm wondering if other crypto holders are falling that are unconnected directly to ftx They were competitors. Binance essentially initiated the "bank run" that led to the collapse of FTX by publicly questioning the solvency of FTX. I have zero doubt that the Big 4 didn't even bother picking up the phone when Binance called as I'm convinced that their internal risk management departments have issued directives to not even consider engaging with those type of clients. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted December 22, 2022 Author Share Posted December 22, 2022 Sam Bankman-Fried's ex-girlfriend, FTX co-founder plead guilty to criminal charges - ABC News ABCNEWS.GO.COM Caroline Ellison, CEO of Alameda Research, and Gary Wang, co-founder of FTX, pleaded guilty earlier this week, according to newly unsealed court documents Quote Sam Bankman-Fried's ex-girlfriend and the co-founder of FTX have each pleaded guilty to criminal charges and are cooperating with prosecutors, U.S. Attorney Damian Williams said Wednesday. Caroline Ellison, CEO of Alameda Research, Bankman-Fried's privately-controlled hedge fund, and Gary Wang, co-founder of FTX, pleaded guilty earlier this week, according to newly unsealed court documents. Ellison pleaded guilty to conspiracy to commit wire fraud on customers of FTX, wire fraud on customers of FTX, conspiracy to commit wire fraud on lenders of Alameda Research and wire fraud on lenders of Alameda Research, conspiracy to commit commodities fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering, according to the court documents. 2 Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted December 22, 2022 Share Posted December 22, 2022 drag his ass Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted December 22, 2022 Author Share Posted December 22, 2022 FTX founder Bankman-Fried released on $250 mln bond at U.S. court appearance WWW.REUTERS.COM Sam Bankman-Fried was released on a $250 million bond package while he awaits trial on fraud charges related to the collapse of the FTX crypto exchange. Quote Sam Bankman-Fried was released on a $250 million bond package while he awaits trial on fraud charges related to the collapse of the FTX crypto exchange. Federal prosecutors in Manhattan have accused him of stealing billions of dollars in FTX customer funds to plug losses at his hedge fund, Alameda Research. Bankman-Fried was not asked to enter a plea on Thursday. He has previously acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability. His defense lawyer, Mark Cohen, declined to comment after the hearing in Manhattan federal court. Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted December 22, 2022 Share Posted December 22, 2022 Sam Bankman-Fraud Quote Link to comment Share on other sites More sharing options...
Guest Posted December 22, 2022 Share Posted December 22, 2022 6 minutes ago, Uaarkson said: Sam Bankman-Fraud I believe the name going around is Scam Bankrun’d-Fraud Quote Link to comment Share on other sites More sharing options...
unogueen Posted December 22, 2022 Share Posted December 22, 2022 Where did that money come from, crypto? Quote Link to comment Share on other sites More sharing options...
Anathema- Posted December 25, 2022 Share Posted December 25, 2022 On 12/22/2022 at 3:29 PM, sblfilms said: I believe the name going around is Scam Bankrun’d-Fraud overproduced 1 Quote Link to comment Share on other sites More sharing options...
Remarkableriots Posted March 17, 2023 Share Posted March 17, 2023 Pay My Legal Bills Before Anyone Else, Sam Bankman-Fried Tells FTX FINANCE.YAHOO.COM The disgraced founder of the failed cryptocurrency exchange is facing legal bills in the millions of dollars and wants "priority" access to the firm's director and officer insurance. Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted April 19, 2023 Share Posted April 19, 2023 I knew that I liked Taylor Swift for a reason other than the fact that she is 5'11". Taylor Swift did due diligence on FTX, says lawyer who finally served Shaq, Tom Brady WWW.THEBLOCK.CO Taylor Swift did her homework in opting not to tout FTX, says the lawyer who's leading a class action suit against its promoters. She dodged a bullet. Quote “The one person I found that did that was Taylor Swift. In our discovery, Taylor Swift actually asked them, 'Can you tell me that these are not unregistered securities?’” Moskowitz said. Swift reportedlycame close to inking a $100 million sponsorship deal with FTX, but the partnership never materialized.Swift did not immediately respond to a request for comment. Queen shit. 1 1 Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted April 21, 2023 Share Posted April 21, 2023 On 4/19/2023 at 5:57 AM, Kal-El814 said: I knew that I liked Taylor Swift for a reason other than the fact that she is 5'11". Taylor Swift did due diligence on FTX, says lawyer who finally served Shaq, Tom Brady WWW.THEBLOCK.CO Taylor Swift did her homework in opting not to tout FTX, says the lawyer who's leading a class action suit against its promoters. She dodged a bullet. Queen shit. Right. Definitely not for her music though :P I'm betting her banker/investor dad that works for an old-guard financial institution probably had her asking these questions. Quote Link to comment Share on other sites More sharing options...
Jason Posted April 21, 2023 Share Posted April 21, 2023 22 minutes ago, GeneticBlueprint said: Right. Definitely not for her music though :P I'm betting her banker/investor dad that works for an old-guard financial institution probably had her asking these questions. Ability to listen to and act on competent advice is still a trait lacking in a lot of celebrities. 1 1 Quote Link to comment Share on other sites More sharing options...
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