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FTX to file for U.S. bankruptcy, CEO resigns
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Re: FTX to file for U.S. bankruptcy, CEO resigns
#72This whole thing is just the .com crash all over again. Super Bowl ad’s the same year of the crash even.
I happened to be at a hotel earlier this year that was hosting a crypto conference and the attendees looked like the kinds of people a multi-level marketing scheme attracts. Very different from a few years ago.
Re: FTX to file for U.S. bankruptcy, CEO resigns
#73The 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…
> Caroline, Alameda's CEO, also said "My advice for college is that class don't matter that much and friends and networking are really important. Probably the most valuable thing you can do in college is find the coolest people you can and spend lots of time hanging out with them".
This is mainstream advice if you're at an Ivy, Stanford, etc. You're learning the same material as the people who go to a state university. The advantage is the proximity to power, the people you rub elbows with who can help your career down the line.
This is the entire premise of elite business schools – nobody is dropping $100k/year for the content that you can get on YouTube for free.
Re: FTX to file for U.S. bankruptcy, CEO resigns
#74Had it been going on behind the doors, the VCs would have pumped more money in to the scam. Since it became too public to hurt their brand they will no more fund it. It happens all the time. The VCs know how their portfolio companies operate and still keep supporting them.
Ding ding, winner winner chicken dinner.
Quick reminder that we're on a VC board that has participated in this shell game; this fraud that has stolen money from naive people.
And before I get downvoted to oblivion or moderated by @dang I hope a few people read this comment and realize how much was stolen from you so the sand hill gang can play monopoly ... it was a lot.
Re: FTX to file for U.S. bankruptcy, CEO resigns
#75The 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…
The more I read and learn about all this it feels like the work of a criminal mind more than just plain greed or hubris.
Re: FTX to file for U.S. bankruptcy, CEO resigns
#76The 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…
It is not Theranos 2.0; it is straight up theft to use client funds sitting in an exchange to cover losses in a hedge fund.
Re: FTX to file for U.S. bankruptcy, CEO resigns
#77Does this bankruptcy include FTX US? A bunch of people in yesterday’s thread were saying that FTX US is safe, which seemed strange.
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Re: FTX to file for U.S. bankruptcy, CEO resigns
#78No post body was provided.
Re: FTX to file for U.S. bankruptcy, CEO resigns
#79you cannot make up this shit https://www.reddit.com/r/wallstreetbets/comments/ys4lmo/she_... gold
Even south park can't keep up with how dumb the system we built evolved to be
Re: FTX to file for U.S. bankruptcy, CEO resigns
#80The 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…
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