Bitcoin

Fallen FTX Founder Cheated to Make More Money on His Platform

The founder of crypto exchange FTX Sam Bankman-Fried allegedly bought crypto tokens before they were listed on the platform, according to a Wall Street Journal article.

FTX's trading firm, Alameda Research, bought nearly 60 ethereum-blockchain based tokens before the company's own clients could buy and sell them.

The practice is akin to insider trading.

Alameda was founded and owned by Bankman-Fried.

Blockchain data from Argus, an analytics firm, showed that even though FTX said it would list the tokens first on its exchange so that investors, ranging from retail to institutional ones such as hedge funds, could purchase them, it was not true.

Instead, between March 2021 through March 2022, Alameda owned $60 million of the tokens from 18 listings of them, according to data from Argus.

The blockchain, which is a digital ledger that can be viewed by everyone, showed that Alameda purchased the tokens before the listings, the article said.

Knowledge that an asset like a token or a stock is going to be listed means that traders can make money by buying them in advance and selling them soon after.

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This is my shocked face.
 
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Odell Beckham Jr. Claims Nike 'Screwed' Him Out Of Millions, Files Lawsuit

Free-agent wide receiver and NFL star Odell Beckham, Jr. is suing Nike for allegedly withholding tens of millions of dollars.
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Thinking big picture, this move by Odell may also have to do with him hemorrhaging money as part of a $750,000 Bitcoin salary he accepted with the Los Angeles Rams last season, which amounted to a mere $35,000 by year’s end.

LOL
 
The cryptocurrency exchanges need to be closely regulated with strict reporting and disclosure requirements.
 
Sam Bankman-Fried may try to get to a country without a U.S. extradition treaty, but FTX investors may be waiting there to pounce on his ass also.

I bet he seeks asylum in Israel and will be put under protective custody with that other Mossad agent, Jeffrey Epstein.
 
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A hungry man steals $5 food at Walmart and he's arrested.

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This greedy piece of shit walked off with millions and he's given sympathy.

ARREST THIS MAN BEFORE HE GETS TO ISRAEL OR BROOKLYN!!!
 
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Well who needs paper when it's all in the Matrix?

Corporate bankruptcies are usually pretty dull affairs. That's not the case with FTX, which until two weeks ago was seen as the golden child of cryptocurrency, but now appears to have been a giant Ponzi scheme.

All this has led FTX's new caretaker CEO, John Ray III, to declare this the worst trainwreck he has ever seen. And that's really saying something, since Ray is a restructuring expert who has presided over some of the most infamous bankruptcies in history—including energy giant Enron in 2001, a comparison that some onlookers have made, notably including former Treasury Secretary Larry Summers.
 
Inquisitor said:
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Well who needs paper when it's all in the Matrix?

Corporate bankruptcies are usually pretty dull affairs. That's not the case with FTX, which until two weeks ago was seen as the golden child of cryptocurrency, but now appears to have been a giant Ponzi scheme.

All this has led FTX's new caretaker CEO, John Ray III, to declare this the worst trainwreck he has ever seen. And that's really saying something, since Ray is a restructuring expert who has presided over some of the most infamous bankruptcies in history—including energy giant Enron in 2001, a comparison that some onlookers have made, notably including former Treasury Secretary Larry Summers.
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FInd me in there... I dare you!! :pop2::martini:
 
I posted this in the other thread:

So Brady missed most of training camp and people speculated why. Rumors going around that during at least some of that time (11 days) that Brady missed camp reports had him in the Bahamas at this guys house. If that’s true, what was he doing there just a few weeks before this train wreck gets discovered?
 
dbldwn711 said:
I posted this in the other thread:

So Brady missed most of training camp and people speculated why. Rumors going around that during at least some of that time (11 days) that he was in the Bahamas at this guys house. If that’s true, what was he doing there just a few weeks before this train wreck gets discovered?
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Are you saying he personally deflated FTX?
 
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