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https://twitter.com/JasonYanowitz/status/1590800210200256513
https://twitter.com/StackerSatoshi/status/159097223797656780...
https://twitter.com/statelayer/status/1590939767205920769
And then there are these NFT shenanigans:
Does this bankruptcy include FTX US? A bunch of people in yesterday’s thread were saying that FTX US is safe, which seemed strange.
Yes, it explicitly mentions that FTX US is included: > FTX Trading Ltd. (d.b.a. FTX.com), announced today that it, West Realm Shires Services Inc. (d.b.a. FTX US), Alameda Research Ltd. and approximately 130 additional affiliated companies (together, the "FTX Group"'), have commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware in order to begin an orderly pr…
The CEO of Alameda said "we tend not to have stop losses... I'm trying to think of a good example of a trade where I've lost a ton of money... I probably don't want to go into specifics with that" https://twitter.com/ApeDurden/status/1590912098871435265 Now how did this place end up managing billions of dollars and SBF the darling of politicians? The picture is starting to come into focus. SBF used customer funds to…
This is actually generally how finance works though. The whole industry is built on the illusion of superior competence. "Prestige" is a determining factor in someones ability get a job running a hedge fund/financial asset management. Generally they need to have gone to the right school, worked at the right bank, then at the right hedge fund. Each should show a good amount of tenure ( > 3-5 years ). A major asset man…
It's not just finance, people everywhere are impressed by a prestigious background, and assume if you can drop certain names on your resume you must be great.
Such names will open all sorts of doors for you that are firmly shut against the riffraff.
Of course, conmen have used such patinas of prestige to their advantage since the dawn of time.
It's official now; let's see if any other crypto companies will also fall. Looking at BlockFi and Nexo specifically.
Nexo has zero exposure to FTX according to their CEO.
https://blockworks.co/news/blockfi-stops-withdrawals-hinting...
That's when you know shits getting real.
https://www.reddit.com/r/wallstreetbets/comments/ys4lmo/she_...
gold
Just 20 hours ago - it was all bad but still fine and plenty of money and lots of interested parties... Oh and it is all the fault of the Devs https://twitter.com/SBF_FTX/status/1590774827467812865 If you stick your company name in your twitter handle - does that mean the company owns the twitter account too???
>does that mean the company owns the twitter account too??? At this point I think there are a lot of people who operate as if they and the company are fundamentally joined / the same thing.
Where's the oversight from the SEC?
Why are they filing in the US? I thought they were Bahamas or Hong Kong besides ftx.us
The US has Chapter 11 bankruptcy, while Antigua and Barbuda might only have something more closer to the US's Chapter 7.
Earlier quoted context omitted.
I am still not convinced that he did not steal the missing FTX client funds. So at this point it is not clear to me how much he lost or gained from this. I do hope the DOJ conduct a full investigation and trace where all the money went.
I assume all those political donations bought something :)