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FTX collapse, Tether operations have links to online-poker cheating scandals

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Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#131

Post by rideontime »

loceng wrote: post #113
yonaguska wrote: post #105

Earlier quoted context omitted.

From what I'm reading, Ukraine used FTX to facilitate donations to Ukraine. I'm waiting for more details on the claim that Ukraine actually directly funded FTX. In other funding news- FTX did fund one of the studies that "debunked" Ivermectin as an effective covid treatment. There's definitely a strong political slant to this scandal.

And quite interesting that most of the FTX team/founders are reported to now be in Hong Kong - arguably knowing they have the protection of China?

Source?

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#132

Post by teh64 »

loceng wrote: post #88

Is there truth to the U.S. sending money to Ukraine -> Ukraine funding FTX -> FTX being 2nd largest donor to Democratic party in the U.S.? Timeline: - April 25, 2019: Biden announces his presidential campaign. - 13 days later, Sam Bankman-Fried, son of Barbara Fried (co-founder of political fundraising organizations), launched FTX crypto exchange. - The exchange is an overnight success. Sam Bankman-Fried (SBM) become…

Here is an actual source: https://cointelegraph.com/news/ukrainian-government-launches...

Quote: “Aid For Ukraine shows how the global crypto community and the traditional financial system can work together,” said Solana Labs co-founder Anatoly Yakovenko. “Crypto donations to the DAO are stored and governed on-chain, then transferred to FTX, a centralized exchange, to be sold for fiat USD sent via SWIFT to the Ukrainian government.”

So basically people in the US (not the US government) sent money to Ukraine using FTX as an exchange to fiat (lol). Seems the whole thing is more like a PR thing than anything else.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#133

Post by once_inc »

nuclx wrote: post #122
once_inc wrote: post #66

Earlier quoted context omitted.

"Crypto" is useless. Bitcoin isn't. Maximalists have been warning against this stuff happening for nearly a year now. Ever since Luna collapsed, those voices grew louder, but the yield-farming degenerates chose not to listen.

Privacy coins aren't. The problem with Bitcoin is, that it CAN be regulated to death.

And privacy coins come with the appended issue that software issues could hide an inflation bug, which isn't provable at that moment. Is Bitcoin anonymous? Nope, but with some diligence, you can be quite protected.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#134

Post by MichaelCollins »

once_inc wrote: post #130
MichaelCollins wrote: post #120

Earlier quoted context omitted.

I'm guessing the logic is something along the lines of "all crypto is crap... except for the crypto I have of course."

You guessed wrong.

You own no BTC then? That's strange for somebody who evidently thinks it so great.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#135

Post by MrPatan »

brookst wrote: post #87
AlexandrB wrote: post #82

Earlier quoted context omitted.

With every crypto collapse there seems to be an associated failure by the media to do any real digging. The same thing happened with Theranos where, with a few exceptions, the media fawned over Elizabeth Holmes. It's hard to tell if the media has gotten worse at their jobs or they've always been this bad and I'm just getting older. There are plenty of earlier scams and bubbles (Enron, dot-com bubble) that slipped und…

“The media” is mostly just a bunch of 20-40 year olds with liberal arts bachelors degrees, trying to make ends meet and feed their families. Serious investigative reporters with the smarts and experience to dive deep were always the exception, maybe a handful in the world at any given time. So IMO, “they’ve always been this bad” is the answer, but it’s not entirely fair. Kind of like saying the cooks at McDonald’s ha…

> “The media” is mostly just a bunch of 20-40 year olds with liberal arts bachelors degrees, trying to make ends meet and feed their families.

It's even worse. 50 years ago that's still what they were, but they had the "power" of defining reality. Politicians, millionaires, and other actually powerful people had to suck up to them or with the narrative-shapers against them they would have real problems.

But that reality is breaking (if not totally broken). Social media, feed algorythms, recomendation engines, etc, are taking those narrative-shaping powers from them. So they get less respect.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#136

Post by Marazan »

settrans wrote: post #64
zozbot234 wrote: post #52

Earlier quoted context omitted.

Wait, wasn't the NYT supposed to take a very critical look at everything in "tech", as a matter of editorial policy? Why were they giving such a glowing (no pun intended!) endorsement of crypto, of all things? Something doesn't add up here.

In case you're not being facetious, Sam was the single second largest donor to the Democratic Party.

To Democratic Primary races. To get the pro-crypto candidate over.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#137

Post by jgalt212 »

themgt wrote: post #48

It's incredible that SBF was being touted by Sequoia, WEF, Fortune, chumming it up with Clinton and Blair in the Bahamas, getting meetings and kid glove treatment with the SEC, relatively glowing profile as a "do-gooder" by the NYT. All while FTX had a Chief Regulatory Officer who was basically a career white-collar criminal. It beggars belief that anyone who dug half an inch into this story wouldn't have seen 90,000…

Clinton and Blair are old. I'm starting to think this is no different from a scammer extracting a credit card number over the phone from your formerly astute great aunt.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#138

Post by gitfan86 »

once_inc wrote: post #129
SketchySeaBeast wrote: post #99

Earlier quoted context omitted.

> "Crypto" is useless. Bitcoin isn't. What unique properties does Bitcoin have that makes it useful that other cryptocurrencies don't, beside first mover advantage?

Bitcoin is provably the only decentralized system that has permissionless, borderless, digital scarcity. Other cryptocurrencies are less secure (the many direct forks, such as Bitcoin Cash and the like), less decentralized (Solana, BNB), less permissionless (any system that can be halted by its operators) or less scarce (Ethereum's emission schedule can be changed by a single organisation). Bitcoin's value (not in te…

You are describing a pyramid scheme, but in word salad format.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#139

Post by [deleted] »

new2this wrote: post #71

Clickbait title. Tether is only vaguely mentioned and there is nothing related to Tether operations- only to an employee at Tether. While this article covers an interesting topic, the title is clearly an attempt to bandwagon on the "Tether is next" narrative while contributing nothing substantial to the conversation

[deleted]

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#140

Post by mattbrewsbytes »

brookst wrote: post #83
AlexandrB wrote: post #72

Earlier quoted context omitted.

> I would give a pass to any celebrity that was paid to be in advertisements. They are paid to make an appearance and say lines convincingly. I disagree. It's super weird that we accept "well I was just doing it for the money" as an excuse from people who are often already insanely wealthy.

If there’s a moral obligation to fully vet the industry and operations of a company before accepting a short contracting job from them, why would one’s bank balance matter?

Does everyone fully vet their companies executive suite, board of directors and operations before accepting a job? Or the bank they use? Or the owner of the coffee shop they frequent?

Everyone walks around with a computer in their pocket built in a factory where people were to have known to be treated poorly, possibly to the point of suicide and then they use that device to type in comments about moral superiority.

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