Sam Bankman-Fried
 

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

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

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 :1orglaugh

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 :1orglaugh

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.

SBF is a wonder kid no more

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...

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.

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. :helpme

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..

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.

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

Pure coincidence

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

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

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.

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

This guy did a great job putting it all together

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

You think?

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.

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

^^ exactly

:thumbsup :thumbsup

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

Buckle up :1orglaugh

https://i.imgur.com/D0r7XR5.jpg

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



I think we know why Tom Brady got divorced now.

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.

oohhhh I touched a nerve here :1orglaugh:1orglaugh:1orglaugh
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.

Are you coming to Internext ?

His hairstyle

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

Sounds like BS to me