FTX collapse was not a liquidity crisis

[Sprout]

From the perspective of regular customers, you're right. FTX did function well.

However, Alameda created the FTT token out of thin air and then used their own FTX exchange to trade FTT amongst themselves to establish a bullshit value for the token. Then they went out and borrowed billions from institutions using a massive treasure chest of FTT tokens they created out of nothing for themselves as collateral for those loans. So FTX still has plenty of liability for being an integral part of that manipulative scheme.

Hard to make the case that Binance is much different with BNB, various flavors of Binance chain and all the various dog/cat meme coins.

 

[misterkel]

So you honestly believe there was nothing wrong with the performance of their major market maker that it received an illegal and undisclosed cash infusion in the billions? My bet is that when all comes to light that some bets in the billions have been placed by the market making arm that went sour and had to be covered.

JUST the platform. JUST the fucking software. JUST the trading engine. THAT is ALL I am saying.
I don't know anything about the mm's or anything like that. The trading platform actually worked well.
Please go put words in someone else's mouth. Mine is full already.

 

[misterkel]

That report is from Ben Swann.

According to Wikipedia, Ben Swann

reported on conspiracy theories about the 2012 Aurora, Colorado shooting, questioned the truth of the Sandy Hook Elementary School shooting, presented 9/11 conspiracy theories, and the false claims of a cover-up by the CDC of data related to the MMR vaccine and autism. He has also questioned the use of chemical weapons in the Syrian Civil War, whether United States had a role in the development of the Islamic State, and other controversial topics.

In 2017, after his employer, CBS affiliate 46 in Atlanta, aired a Reality Check which presented the false Pizzagate conspiracy theory as potentially true, Swann was forced by WGCL to bring down his Truth in Media website and all of his social media. About a year later, he was fired when WGCL learned that Swann was planning to relaunch Truth in Media.

I think I'll look elsewhere for news about FTX.

Wikipedia, eh?
I think I'll look elsewhere for information about Ben Swann.
Lol. Try CNN - heard they cater to normies!

 

[newwurldmn]

Wikipedia, eh?
I think I'll look elsewhere for information about Ben Swann.
Lol. Try CNN - heard they cater to normies!

you can go edit all the wrong information about Ben Swann if you want.

 

[Pekelo]

Which person with a wealth of more than 100 million have you EVER seen to have spent a life long sentence in prison? I don't know of a single one.

That is easy:

https://en.wikipedia.org/wiki/Allen_Stanford

Is 110 years long enough for you? Also any big enough drug lord who got convicted, like El Chapo.

 

[Pekelo]

Bullshit, what are you talking about? You don't know how much time Holmes will be spending in prison.

Minimum 9.5 years, unless she runs away. For federal crimes you have to serve 85%, do the math.

 

[The_Krakenite]

 

[M.W.]

Sure Allen Stanford qualifies. Certainly not Guzman, I am talking about the American elite. Billionaires and those who amassed hundreds of millions through illegal schemes. If you now include heads of the mafia then perhaps that is a better reflection of how you see the elite.

That is easy:

https://en.wikipedia.org/wiki/Allen_Stanford

Is 110 years long enough for you? Also any big enough drug lord who got convicted, like El Chapo.

 

[M.W.]

We heard that enough of times. Let's get back to this once Holmes leaves prison then we can do a count.

Fact remains, a tiny fraction of the rich ever spend more than a decade in prison for crimes that affected thousands or hundreds of thousands. In contrast, small crime guys are incarcerated and often times sit out their prison terms for a lengthy period of time. Most of the times though those elites don't ever make it to prison. They often times settle privately in exchange for financial payments. Great Justice system you got there. Largest incarceration rate in the developed world but rich white collar criminals hardly ever make their way to prison. The statistics are clear on this. How many of the 2008 financial crisis ever got sentenced for prison terms?

Minimum 9.5 years, unless she runs away. For federal crimes you have to serve 85%, do the math.

 

[jys78]

He paid big $ of stolen funds to pay the Democrats for his 'get out of jail free' card.

Let's see if they honor the agreement now. Apparently, they say he was a 'really nice guy' if you were lucky enough to have met him.

I was in a group chat with him and a few dozen others over a year ago. I asked him a polite but legitimate question about one of his "Samcoin" projects. Not only did he not respond, but I was muted (although not kicked out of the chat). Told me everything I needed to know.