FTX Wash Cycle

in crypto •  2 years ago 

How is the FTX scam going?

Judge pulls out of SBF-FTX case citing husband’s law firm’s advisory link

Snigger - and just the day after SBF was granted the freedom to slouch around.

Crypto Twitter confused by SBF’s $250M bail and a return to luxury

mmm... confusion is a large slice of the crypto pancake. So many fools ejaculating nonsense that is then swallowed whole by their followers. Learn to read, would be good start.

SBF Bail Bond

mmm... two persons unknown; and one of them not even a relative. Why so shy?

Back to the inSecurities & Extortion Commission, we find a sneaky attempt to brand cryptos as securities.

SEC Believes FTX’s FTT Token Classifies as Security

This was buried in the original complaint filed 21 December 2022.

As more vermin crawl out of the woodwork,

Alameda Research's Sam Trabucco Emerges in FTX Scandal: What Role Did He Play?

So far, it has been revealed that three former FTX and Alameda executives have turned on SBF, which includes Caroline Ellison, Gary Wang, and Ryan Salame. Two other execs people are curious about include FTX’s former director of engineering, Nishad Singh, and FTX’s former head of product Ramnik Arora.

Thoughts:

I agree.

Also, being an analyst is not the same as a trader. So, the ultimate architects of this financial fiasco got a bunch of kids with degrees plausible enough to pass as arriviste billionaires.

Now, which of those creatures managed to get $900m in funding that elevated FTX into the nonsensical market cap of $18b!?

Try to keep an eye on actual money and not on valuations of shares or tokens that never changed hands.

Why so shy?

Ramnik Arora = former Goldman Suchs and Fakebook.

Salame and Arora have the most experience.

Follow the real money, not the inflated tokens. Good luck!

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  ·  2 years ago  ·  

This is a copy of an FT article: https://chof360.com/how-sam-bankman-fried-seduced-blue-chip-investors/

When Bravo and partner Tre Sayle began due diligence for the funding round, they were surprised by the FTX numbers. The two-year-old startup led by a relatively small crew of young traders was on track to earn more than $200 million in operating profit for the year, unprecedented margins for an early-stage company that usually loses money. Bravo was blown away. Thoma Bravo invested more than $125 million in the tour in June 2021, becoming one of FTX’s biggest backers.

and nobody sought to check out the wash trading cycle!?

  ·  2 years ago  ·  

and read how father-professor shilled for his son. Aren't there laws about that too? lmfao

and here is a name so far ignored:

https://www.theblock.co/post/174513/ftxs-head-of-otc-and-institutional-sales-has-quietly-left-the-firm

Jonathan Cheesman joined FTX in May 2021 and was tasked with bringing traditional financial institutions into crypto markets, having previously worked at HSBC, Goldman Sachs and Barclays.

he left FTX quietly - shhhh - just before the SHTF!! mmmm...

  ·  2 years ago  ·  

VanEck FTX Token ETN
https://www.vaneck.com/de/en/vftx/
Trading has been suspended since 14 November 2022. Any changes will be communicated to you on this website.

They also have a LUNA ETN - both started in March 2022! lmao. Trading for that was suspended after just 6 weeks. This is what a smart investor looks like.

One thing about regulated companies is that they still can massively fuck up.

  ·  2 years ago  ·  

The tribe protects their own.
Community slams NYT for its latest 'sympathy piece' on FTX's Bankman-Fried

The NYT has been owned by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded. ;-) smart