Sam Bankman-Fried

[DVTimes]

Considering he was a billionaire, it is interesting that this week is the first I have heard about him.

[jscott]

Well considering you're not into crypto, why do you think you should have known about a CEO of a crypto trading platform?

[Biggie Smalls Web Writing]

Tom Brady and millions of others invested in crypto via FTX wish they could say the same

[jscott]

Originally Posted by Biggie Smalls Web Writing

Tom Brady and millions of others invested in crypto via FTX wish they could say the same

SBF/FTX/Alameda contributed $$10's of millions to Democratic party including Joe Biden campaigns, bet they wish they could also say the same

https://nypost.com/2022/11/14/sam-ba...bank-for-dems/

[Biggie Smalls Web Writing]

Originally Posted by jscott

SBF/FTX/Alameda contributed $$10's of millions to Democratic party including Joe Biden campaigns, bet they wish they could also say the same

https://nypost.com/2022/11/14/sam-ba...bank-for-dems/

I read an article where it says that he was supposed to donate 1b and they got mad at him when he donated only 50m

[candyflip]

Originally Posted by Biggie Smalls Web Writing

Tom Brady and millions of others invested in crypto via FTX wish they could say the same

They didn't invest shit. They got equity for some of their time for marketing.

[baddog]

Originally Posted by candyflip

They didn't invest shit. They got equity for some of their time for marketing.

Larry David is the only one that got it right.

[adultchatpay]

SBF is a wonder kid no more

[NewsPressed]

Never heard of this guy before - but a bunch is now coming out - as the facts unfold - it seems SBF - will turn out to be yet one more Democrat dishonest thieving scumbag...

[Biggie Smalls Web Writing]

Originally Posted by candyflip

They didn't invest shit. They got equity for some of their time for marketing.

I wasn't talking about celebrities only.

FTX fucked over 5 million people.

[baddog]

Originally Posted by Biggie Smalls Web Writing

I wasn't talking about celebrities only.

FTX fucked over 5 million people.

Yep; I was just talking to a friend that has never invested in crypto, but he did invest in FTX.

[jscott]

Originally Posted by baddog

Yep; I was just talking to a friend that has never invested in crypto, but he did invest in FTX.

I don't get why people, especially noobs, go straight for the highest risk investment when in crypto. They bypass the oldest, most secure, only decentralized of all, Bitcoin.

[Biggie Smalls Web Writing]

Originally Posted by baddog

Yep; I was just talking to a friend that has never invested in crypto, but he did invest in FTX.

There is a difference between investing in FTT, their native token that went from $30 down to $1.5 USD basically over the night and buying crypto (even btc) at FTX exchange and leaving it there instead of moving to the ledger or whatever you each one of us crypto users should have. Either way, they're fucked..

[Biggie Smalls Web Writing]

Originally Posted by jscott

I don't get why people, especially noobs, go straight for the highest risk investment when in crypto. They bypass the oldest, most secure, only decentralized of all, Bitcoin.

They wouldn't lose it all if they bought any coin even the biggest shitcoin and moved it to a hardware wallet.

Instead, they trusted FTX and left the coins there on exchange and Sam & his fuck buddy gambled it away..

[jscott]

Originally Posted by Biggie Smalls Web Writing

They wouldn't lose it all if they bought any coin even the biggest shitcoin and moved it to a hardware wallet.

Instead, they trusted FTX and left the coins there on exchange and Sam & his fuck buddy gambled it away..

Right, but what failed here was centralization. MTgox, BTC-e, FTX, etc all centralized. So was FTT, the FTX token. So are all cryptos that offer staking (ie: ADA, ETH, SOL), because someone, some entity needs to issue the stakings, that would be a centralized control. It's created out of thin air just as fiat is. Unlike Bitcoin where energy and time is needed to mine it, true hard money.

This FTX/SBF implosion is a reminder to NOT trust anyone! Trust math & protocol, the only decentralized one of those is Bitcoin.

[baddog]

Originally Posted by Biggie Smalls Web Writing

There is a difference between investing in FTT, their native token that went from $30 down to $1.5 USD basically over the night and buying crypto (even btc) at FTX exchange and leaving it there instead of moving to the ledger or whatever you each one of us crypto users should have. Either way, they're fucked..

He was a cash investor, that's all I know other than he specifically said it wasn't a crypto purchase.

I was not interested enough to dig deeper

[Rebel D]

Originally Posted by baddog

Larry David is the only one that got it right.

Pure coincidence

[adultwebmestar]

the crypto profit landed in democratic hands
so funny
satoshi turning in his grave

[Biggie Smalls Web Writing]

Originally Posted by jscott

Right, but what failed here was centralization. MTgox, BTC-e, FTX, etc all centralized. So was FTT, the FTX token. So are all cryptos that offer staking (ie: ADA, ETH, SOL), because someone, some entity needs to issue the stakings, that would be a centralized control. It's created out of thin air just as fiat is. Unlike Bitcoin where energy and time is needed to mine it, true hard money.

This FTX/SBF implosion is a reminder to NOT trust anyone! Trust math & protocol, the only decentralized one of those is Bitcoin.

You are right here, all mentioned above are centralized. Fox ex SOL, 50% of the initial distribution of the token went to investors:

1. 15.86% to Seed Round investors
2. 2.63 to Founding Sale investors
3. 5.07% to Validator Sale investors
4. 1.84% to Strategic Sale investors
5. 1.6% to Public Auction Sale investors
6. 12.5% to team members
7. 12.5% to the Solana Foundation

btc is no brainer, it offers the least amount of risk and solid reward. But its in human nature to chase pumps and projects with higher risk-reward ratio, and also to leverage it until they go broke

[Biggie Smalls Web Writing]

Originally Posted by baddog

He was a cash investor, that's all I know other than he specifically said it wasn't a crypto purchase.

I was not interested enough to dig deeper

Its crazy what happened.

They were insolvent for some time due to leveraging clients' funds.

Then when Binance found out what they were doing and threatened to sell some of the % FTT token they owned, FTT token started going down and FTX tried to stop the bleeding by selling other assets. Millions of users then realized that money is not safe and they tried to do withdrawals, which was suspended a few hours later. And the worst part was the hack, which many people think that Alameda did and stole an additional 400m usd.

Yeah, you're not wrong, the movie is coming out soon

[k0nr4d]

Originally Posted by Biggie Smalls Web Writing

Its crazy what happened.

They were insolvent for some time due to leveraging clients' funds.

Then when Binance found out what they were doing and threatened to sell some of the % FTT token they owned, FTT token started going down and FTX tried to stop the bleeding by selling other assets. Millions of users then realized that money is not safe and they tried to do withdrawals, which was suspended a few hours later. And the worst part was the hack, which many people think that Alameda did and stole an additional 400m usd.

Yeah, you're not wrong, the movie is coming out soon

There was no hack. There's no way that someone could have compromised that many systems that quickly unless they were absolutely fucking retarded and stored all the keys in one place with a shitty password, and I would imagine that a company worth billions like that one (at the time, anyways) likely had a whole team for cyber security.

[Biggie Smalls Web Writing]

Originally Posted by k0nr4d

There was no hack. There's no way that someone could have compromised that many systems that quickly unless they were absolutely fucking retarded and stored all the keys in one place with a shitty password, and I would imagine that a company worth billions like that one (at the time, anyways) likely had a whole team for cyber security.

My bad, I should have put hack in '' ''

[Biggie Smalls Web Writing]

This guy did a great job putting it all together

https://twitter.com/mrjasonchoi/stat...FrE5Zhdh6d7Bbg

[baddog]

Originally Posted by Rebel D

Pure coincidence

You think?

[Kittens]

Originally Posted by jscott

I don't get why people, especially noobs, go straight for the highest risk investment when in crypto. They bypass the oldest, most secure, only decentralized of all, Bitcoin.

They are trying to ride the same wave with a new token that happened with BTC but they'll never feel the same thing. BTC was an anomaly.

Originally Posted by k0nr4d

There was no hack. There's no way that someone could have compromised that many systems that quickly unless they were absolutely fucking retarded and stored all the keys in one place with a shitty password, and I would imagine that a company worth billions like that one (at the time, anyways) likely had a whole team for cyber security.

Don't underestimate companies lol. We've got a long history of companies doing exactly what you said is "absolutely fucking retarded" doing.

[jscott]

Originally Posted by Biggie Smalls Web Writing

btc is no brainer, it offers the least amount of risk and solid reward. But its in human nature to chase pumps and projects with higher risk-reward ratio, and also to leverage it until they go broke

^^ exactly

Originally Posted by Biggie Smalls Web Writing

This guy did a great job putting it all together
https://twitter.com/mrjasonchoi/stat...FrE5Zhdh6d7Bbg

few more interesting takes

BenKew calling out scandal https://twitter.com/ben_kew/status/1591625254044041224
Vitaliks response to FTX https://twitter.com/TuurDemeester/st...87186653679617
Calvin Robinsons views https://twitter.com/calvinrobinson/s...31504875544577

[Biggie Smalls Web Writing]

Buckle up

[lezinterracial]

ColdFusion always makes interesting stories. Just dropped their FTX story.



I think we know why Tom Brady got divorced now.

[todservices]

The only election a democrat can win is when he steals it

[Kittens]

Originally Posted by todservices

The only election a democrat can win is when he steals it

Oh shut the fuck up and keep your dumb fucking DER STOLE DA ELESHUN!!1!! bullshit in politics forum.

[todservices]

Originally Posted by Kittens

Oh shut the fuck up and keep your dumb fucking DER STOLE DA ELESHUN!!1!! bullshit in politics forum.

oohhhh I touched a nerve here
Only truth hurts ...

[Kittens]

Originally Posted by todservices

oohhhh I touched a nerve here
Only truth hurts ...

There is no truth, you're just a fucking idiot and nobody cares to hear about your stupid fucking shit, go back to the tard yard and spew your nonsense with the rest of the tards.

[todservices]

Originally Posted by Kittens

There is no truth, you're just a fucking idiot and nobody cares to hear about your stupid fucking shit, go back to the tard yard and spew your nonsense with the rest of the tards.

Are you coming to Internext ?

[Farang]

[jscott]

[pornmasta]

Originally Posted by jscott

Well considering you're not into crypto, why do you think you should have known about a CEO of a crypto trading platform?

His hairstyle

[pornmasta]

https://knowyourmeme.com/memes/event...lison-sex-tape

Sounds like BS to me

[DVTimes]

[DVTimes]

[DVTimes]