Kevin O'Leary on FTX

[TheDawn]

Why are you defending SBF and gf so much?
Are they your friends?

Did they use, burn, destroy, steal etc... Any customer funds, at any point, illegaly?
Yes.
Did they declare bankruptcy and messed with a lot of other people money? Yep...

You are the only person blaming Binance for this. Now you are questioning binance balance sheet.
Any evidence or just propaganda?
I don't have any Binance coin, but I bought it at 25$ and sold it a 400$! I respect BNB.
I have some other coins on binance, had them on and off and exchanged for years, after few years of paper wallets offline.

And I am going to keep them on Binance for now.
Because I do not believe CZ is an idiot like SBF and Caroline and the rest of the girlfriends working with them.

I am not defending SBF and his gf. I just think Binance is despicable. What he did was really unscrupulous.

WHY are you defending this CZ zhao a$$hole? Is he your friend? LOL Proud that he's the new Big Short? LOL He's not. He is just a self-serving piece of shit who should be charged with at least 8 securities dealing violations.

Anybody has the right to question Binance's financial statement. It's because nobody questioned those crypto exchange's financial statements before that we are in the mess that we are in today. I never said Binance's financial statement is bad but I do have the right to question it. As a customer of Binance who even has funds with Binance, WHY aren't you questioning Binance? What are you afraid of? That Binance is a shitty corp. just like FTX and would fail just like FTX if it's scrutinized and the money that you invested in his ponzi scheme would be gone? LOL

You want to have faith in this cz zhao shit? Good for you. But I and anybody should have the right to question him. In fact, SEC and CFTC should investigate Binance's financial statements right now to ensure it won't be the next to fall. As a customer of Binance, you should welcome that, shouldn't you? LOL And besides, it's your friend cz zhao himself who wants regulation and better scrutiny of the crypto industry. https://www.cnn.com/2022/11/15/business/binance-founder-changpeng-zhao-ftx-intl-hnk#:~:text=In separate remarks in Indonesia,Egan contributed to this report. Well let's start with him. If he's as solid as what you believe, then he's got nothing to be afraid of and you, as a customer should be happy about that. Why are you so afraid that we want to scrutinize on him, to audit his financial statement and to see his debt-to-equity ratio and debt-to-asset ratios? FTX failed because of its high debt-to-equity ratio and debt-to-asset ratios. Don't you want to know Binance's debt-to-equity ratio and debt-to-asset ratios, especially when you are a customer of Binance?

 

[TheDawn]

Maybe he's not an idiot, but he did manage to get his exchange banned from North America. That SHOULD worry you at least a little...

BitFinex is also banned here in Canada, because we know what's going to eventually happen with Tether. And that's going to be the BIG ONE when it does. SBF's 'liquidity issue' will be just a blip in comparison.

He didn't just get his exchange banned in United States. It's banned in every single country that it wants to open his business in. And at the end, it's actually United States that allowed him to open his exchange under Binance.US. https://en.wikipedia.org/wiki/Binance

And we are not saying he's an idiot. He's an unscrupulous scum and a hypocrite who's engaged in the same ponzi scheme of crypto but tries to appear to be high and mighty just for the purpose of eliminating the competition. Does he REALLY want regulations? LOL I doubt so. He just wants rules to be in place so no one can pull the same shit on him like what he did to FTX.

 

[TheDawn]

Right now, If I have to speculate... I would think SBF worked on the politicians and regulators, as he slept with them too, to limit its biggest competitor at home.

Yeah and your friend cz zhao didn't? LOL

 

[ETJ]

https://www.reuters.com/legal/ftx-f...docket&utm_content=C&utm_term=AfternoonDocket

 

[TheDawn]

https://www.reuters.com/legal/ftx-f...docket&utm_content=C&utm_term=AfternoonDocket

They should sue CZ Zhao of Binance and all of his paid promoters for unlawfully promoting loans and investment instruments such as options based in Binance too. It's Zhao's unscrupulous dumping of FTT that's used as the collateral of FTX's loans that brought up FTX's downfall.

https://www.youtube.com/results?search_query=promotion+for+binance+

 

[NoahA]

And here is the investigation....

https://twitter.com/x/status/1592952461308080130

 

[TheDawn]

And here is the investigation....

https://twitter.com/x/status/1592952461308080130

About time. Guess I am not the only one who noticed Binance's underhanded maneuver.

 

[cesfx]

I am not defending SBF and his gf. I just think Binance is despicable. What he did was really unscrupulous.

WHY are you defending this CZ zhao a$$hole? Is he your friend? LOL Proud that he's the new Big Short? LOL He's not. He is just a self-serving piece of shit who should be charged with at least 8 securities dealing violations.

Anybody has the right to question Binance's financial statement. It's because nobody questioned those crypto exchange's financial statements before that we are in the mess that we are in today. I never said Binance's financial statement is bad but I do have the right to question it. As a customer of Binance who even has funds with Binance, WHY aren't you questioning Binance? What are you afraid of? That Binance is a shitty corp. just like FTX and would fail just like FTX if it's scrutinized and the money that you invested in his ponzi scheme would be gone? LOL

You want to have faith in this cz zhao shit? Good for you. But I and anybody should have the right to question him. In fact, SEC and CFTC should investigate Binance's financial statements right now to ensure it won't be the next to fall. As a customer of Binance, you should welcome that, shouldn't you? LOL And besides, it's your friend cz zhao himself who wants regulation and better scrutiny of the crypto industry. https://www.cnn.com/2022/11/15/business/binance-founder-changpeng-zhao-ftx-intl-hnk#:~:text=In separate remarks in Indonesia,Egan contributed to this report. Well let's start with him. If he's as solid as what you believe, then he's got nothing to be afraid of and you, as a customer should be happy about that. Why are you so afraid that we want to scrutinize on him, to audit his financial statement and to see his debt-to-equity ratio and debt-to-asset ratios? FTX failed because of its high debt-to-equity ratio and debt-to-asset ratios. Don't you want to know Binance's debt-to-equity ratio and debt-to-asset ratios, especially when you are a customer of Binance?

I am all for regulation, and audits.
I don't expect Binance to be as crooked as SBF, but by all mean, audit them and regulate the sector.
I don't think crypto should leverage or loan.

Debt to equity... Where are FXT customer's funds? Did Binance financed a crypto hedge fund with his crypto holdings as collateral?

I really don't care about any of them billionaires... But if I see some serious risk, I pull my coins out in seconds.
So far I am not that concerned about the exchange. I would have been concerned about FTX, just by listening to them speaking. Caroline talking about elementary mathematics and amphetamine, and Bank Frier talking about building virtual money piramyds... Come on

 

[cesfx]

Simon Fry Banks... Is the son of two compliance lawyers! Ahahahah... Just wow...

 

[TheDawn]

I am all for regulation, and audits.
I don't expect Binance to be as crooked as SBF, but by all mean, audit them and regulate the sector.
I don't think crypto should leverage or loan.

Debt to equity... Where are FXT customer's funds?

You should read this employee account of what happened during the last few days of FTX. https://www.elitetrader.com/et/threads/the-last-48-hours-of-ftx-alameda-told-by-an-employee.371111/
It will show you that FTX did NOT invest customer funds into any of their failed venture capital projects or their bad loans. Customer funds were never touched until the very last minute where they had to pay the lenders back.

Did Binance financed a crypto hedge fund with his crypto holdings as collateral?

I dunno. Did they? If you think they didn't, how do you know they didn't? Cz Zhao told you himself personally? Or did you see the company's books? Were the books audited?

I really don't care about any of them billionaires... But if I see some serious risk, I pull my coins out in seconds.
So far I am not that concerned about the exchange. I would have been concerned about FTX, just by listening to them speaking.

Yeah so sell your shit and pull your funds out quietly but WHY blab about it on twitter? He saw the risk and wanted to pull out, fine but WHY couldn't he just pull out his funds quietly without anybody knowing? He actually knew the risk of announcing it publicly, the impact that it would have on the FTT's price knowing very well it has no active market and the impact on FTX but he still blabbed about it openly in twitter anyway, creating the announcement like he's some kind of hot shot making his statement. It was the announcement effect of his selling that did FTX in because FTT was used as collateral in all of its loans. When everybody saw the selling announcement that's when the panic started and it triggered the downfall. Read the employee account and you will see FTX actually tried their best to honour the customer withdrawals and paying back the loans. They didn't just take whatever money is there and disappear. No you and I both know that zhao wasn't just trying to limit his risk; he wanted to flatten his competition and then later on buy it cheaply and then dumped it completely after realizing that it was too expensive for him. He single-handedly destroyed FTX breaking a dozen securities laws in the process and then leaving it and its investors out to dry with no ounce of regards for people's welfare. This is a guy who wanted to donate 99% of his wealth??!! LOL Wow what a piece of glorious PR! He doesn't even give a shit about other companies' investors. He wanted to set up an industry recovery fund? How about using that fund to pay back FTX's investors that he screwed?

Caroline talking about elementary mathematics and amphetamine, and Bank Frier talking about building virtual money piramyds... Come on

So? That's their personal viewpoint. What are you? Personal lifestyle and viewpoint police now?? LOL Is talking about elementary mathematics and amphetamine a crime now? LOL How do you know this Cz Zhao doesn't talk about shit? I find his fake PR about wanting to donate 99% of his wealth 100 times more disgusting tbh.