More crypto turmoil

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SlugSlinger

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One guy on the internet is saying go all in at $4,000. At this rate, it will be there soon.

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SlugSlinger

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From "30 Under 30" To Doing 30: FTX Probed By Regulators Over Handling Of Client Funds, Lending​

Sam Bankan-Fried, aka Scam Bankrun-Fraud, may have seen some 95% of his paper "net worth" vanish overnight as his check-kiting ponzi scheme finally blew up - with CZ set to hammer the final blow as he walks away from the non-binding deal - but the CEO of FTX may have less to worry if he will make the Forbes 30 under 30 and be more concerned about doing 30 at some Federal Penitentiary.

According to Bloomberg, US regulators are investigating whether FTX.com "properly handled customer funds", as well as its relationship with other parts of Sam Bankman-Fried’s crypto empire, such as the in-house hedge fund Alameda Research, which contrary to its name, did zero research. Worse, as head of R&D at CoinMetrics noted overnight, the circular fund flows between FTX and Alameda were clear to anyone who bothered to look.



The investigations by the SEC and the CFTC probes relate to the liquidity crisis at the trading platform that led to the sudden and unexpected collapse of the firm and the planned buyout of its non-US operations by Binance. Regulators are also reportedly looking into the platform’s relationship with FTX.com’s American counterpart FTX US and Bankman-Fried’s trading house Alameda Research.

The good news here is that regulators won't have to dig too deep: as we noted last night, Alameda's own CEO (who is about 19-years-old) was kind enough to make a full admission of the fraud that was taking place at the firm just hours before the spectacular implosion.



The confusing news it that according to Bloomberg, the SEC’s inquiry began months ago as a probe into FTX US and its crypto-lending activities; how the SEC was unable to spot the glaring fraud here is troubling. Alternatively, it is possible that as the SEC dug deep and found out all sorts of rot, that it caused Alameda to panic and begin the slide into oblivion.

As for SBF and other FTX employees who just two days ago were busy showing off their brand new Miami office...



... they may find their new digs a tad less enjoyable as they transition from FTX to ADX.
 

sh00ter

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From "30 Under 30" To Doing 30: FTX Probed By Regulators Over Handling Of Client Funds, Lending​

Sam Bankan-Fried, aka Scam Bankrun-Fraud, may have seen some 95% of his paper "net worth" vanish overnight as his check-kiting ponzi scheme finally blew up - with CZ set to hammer the final blow as he walks away from the non-binding deal - but the CEO of FTX may have less to worry if he will make the Forbes 30 under 30 and be more concerned about doing 30 at some Federal Penitentiary.

According to Bloomberg, US regulators are investigating whether FTX.com "properly handled customer funds", as well as its relationship with other parts of Sam Bankman-Fried’s crypto empire, such as the in-house hedge fund Alameda Research, which contrary to its name, did zero research. Worse, as head of R&D at CoinMetrics noted overnight, the circular fund flows between FTX and Alameda were clear to anyone who bothered to look.



The investigations by the SEC and the CFTC probes relate to the liquidity crisis at the trading platform that led to the sudden and unexpected collapse of the firm and the planned buyout of its non-US operations by Binance. Regulators are also reportedly looking into the platform’s relationship with FTX.com’s American counterpart FTX US and Bankman-Fried’s trading house Alameda Research.

The good news here is that regulators won't have to dig too deep: as we noted last night, Alameda's own CEO (who is about 19-years-old) was kind enough to make a full admission of the fraud that was taking place at the firm just hours before the spectacular implosion.



The confusing news it that according to Bloomberg, the SEC’s inquiry began months ago as a probe into FTX US and its crypto-lending activities; how the SEC was unable to spot the glaring fraud here is troubling. Alternatively, it is possible that as the SEC dug deep and found out all sorts of rot, that it caused Alameda to panic and begin the slide into oblivion.

As for SBF and other FTX employees who just two days ago were busy showing off their brand new Miami office...



... they may find their new digs a tad less enjoyable as they transition from FTX to ADX.
He is second largest doner to the Democrats next to Soros. He bought protection and just like Hunter, nothing will happen to him. His mom apparently works with the commies at the WEF and he is now the Benie Madoff of Crypto.
Crypto is a joke. My $300 from well over a year ago is sitting around $30 now and has been flat after falling right after buying in. Going to cash out and claim a loss on taxes.
Depends on the coin, your 401k has done the same under Biden. You bought at the top and sold at the bottom, just like what Warren Buffet says most retail investors do. We've all done it, but if you bought a blue chip coin, it would most likely eventually reach all time high again if you held it, but it could be awhile, nobody knows when of course.
 

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