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FTX to file for U.S. bankruptcy, CEO resigns

reuters.com

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Re: FTX to file for U.S. bankruptcy, CEO resigns

#112

Post by ansible »

gjsman-1000 wrote: post #90
yourMaster_666 wrote: post #66

you cannot make up this shit https://www.reddit.com/r/wallstreetbets/comments/ys4lmo/she_... gold

It's funny. Banks are widely perceived as corrupt; and lo and behold, the alternative systems to replace banking have been dragged by their heels through Banking 101. Edit: Also funny, was the unrelated Matt Damon TV ads about how "Fortune Favors the Brave." Obviously it comes from Caesar, but it was also used in Charles Dickens's Little Dorrit by a character encouraging what later turned out a Ponzi scheme...

I don't think they've even completed the Banking 101 class yet.

Re: FTX to file for U.S. bankruptcy, CEO resigns

#113

Post by Kukumber »

bhouston wrote: post #61

What of the rumour that Bahamians are allowed to access their funds for legal reasons while everyone else can not? Most of the FTX employees including SBF are based in Bahama? Isn't this just insiders cashing out before creditors/users? https://twitter.com/JasonYanowitz/status/1590800210200256513 https://twitter.com/StackerSatoshi/status/159097223797656780... https://twitter.com/statelayer/status/1590939767205920769…

FTX is registered in the Bahamas, but the employees are not Bahamians, they are all from the US with a VISA for residence

Re: FTX to file for U.S. bankruptcy, CEO resigns

#114

Post by kodah »

jddil wrote: post #74
mkagenius wrote: post #44

Had 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.

There's no summon feature on this website so your @ is pretty futile.

Re: FTX to file for U.S. bankruptcy, CEO resigns

#117

Post by bhouston »

asdajksah2123 wrote: post #99
no_butterscotch wrote: post #93

Earlier quoted context omitted.

$70,099,115 70 million in one year. Yikes. Seems like the company was full of bad decisions.

Less bad decisions and more making sure they had political cover for their Ponzi and no one investigated them too hard.

Yup, money to politicians does tend to make them look away.
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