Crypto Exchange

[Guest]

It's always been expensive. It looks cheap today because the numbers are higher. 100 years ago they said $218 for a Ford truck - that's insane. I remember when it was $176. Its nuts, no one will be able to afford one soon.

Oh and some Canadians made 161 billlion. All depends which end of the transaction you are on. The smart one or the whiner one.

Are you into the sauce ??

[jazz]

Your next crypto scammer domino has emerged.

$60B known assets on books, unable to provide an audit of the business when requested by clients. Unknown leverage and exchanges with other crypto platforms.

Charges from US govt, informal accusations they engineered the run on FTX. You dont take down the 2nd biggest illegal Democrat donor and not face Hillarys suicide squad.

These yung uns who thought they were so smart forgot to check about the deep state running the show

Boom

[furrowtickler]

Oh what a tangled web they weaved, now they are caught in it, absolutely no surprise.
Like Musk opening the door to the twitter basement, the cockroach's are scattering now that the light shining on them. Its about time

https://youtu.be/DXvnOr3mK8A

[sumdumguy]

But what about a, “balanced portfolio?” and all the whipper snappers who pompously proclaimed the virtue of, “portfolio diversification”. Hmmm

[sumdumguy]

But what about a, “balanced portfolio?” and all the whipper snappers who pompously proclaimed the virtue of, “portfolio diversification”. Hmmm

[shtferbrains]

" JUST IN: FTX new management says the company has located over $1 billion in assets, including $720 million in cash"

$720 MILLION seem like fair bit of cash to have overlooked.
Fraud all the way.

[GrayMary]

How Did FTX Fail?
FTX filed for bankruptcy on Nov. 11, 2022, after a surge of customer withdrawals earlier in the month. Then-CEO Bankman-Fried admitted that the company didn't have sufficient assets in reserve to meet customer demand.

Did FTX Get Hacked?
Within hours of filing for bankruptcy, FTX alleged it was hacked. The exchange noted “unauthorized transactions” that may have stolen close to $500 million in assets, and which were spotted by Elliptic, a crypto compliance service. The hacker continued to drain wallets for several days using what analysts called “on-chain spoofing.” The hacker reportedly then invested those funds in Ether (ETH).
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What Happens Next to Ex-FTX CEO Bankman-Fried?
Bankman-Fried is set to face trial on eight criminal charges on Oct. 2. After a court hearing on Dec. 22, 2023, a federal judge decided to release Bankman-Fried from custody after his attorneys and federal prosecutors agreed to a $250 million bond, the largest ever. He will live with his law professor parents in Palo Alto, California, be confined to the Northern California area, and wear an electronic monitoring bracelet.
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On Jan. 3, 2023, Bankman-Fried pleaded not guilty to all criminal charges in a federal court in New York.