Guided Missile Posted 14 November, 2022 Share Posted 14 November, 2022 (edited) By far the most recent interesting news story is that of FTX and it's totally weird founder Sam Banker-Fraud (aka SBF). Now, it's not so much about the canary in the coalmine episode, spelling the cryptocurrency melt down, nor the fact that billions of real money has and will be lost as a result of this gigantic Ponzi scheme. No, it's the billions invested in FTX and it's related company Alameda, which spunked someone else's money on dodgy investments, without asking the depositors. Now, don't say these investment genius's weren't warned: Quote Sequoia, one of Silicon Valley’s higher-profile corporate investors, published a lengthy profile of Mr Bankman-Fried in September, claiming he had been playing a video game during the crucial meeting in which he pitched for cash. The 30-year-old tech entrepreneur was playing League of Legends on his phone during a pitch meeting where he secured $900m in funding, according to the blog post. “I sit ten feet from him, and I walked over, thinking, Oh, s–t, that was really good,” wrote Sequoia head of product Ramnik Arora of his meeting with Mr Bankman-Fried. “And it turns out that that f—-r was playing League of Legends through the entire meeting.” League of Legends is an online multiplayer game known for requiring considerable attention from its players. Sequoia general partner Michelle Bailhe added: “We were incredibly impressed." Mr Bankman-Fried has previously said he is “infamous for playing League of Legends while on phone calls”. FTX had loaned $4bn to Mr Bankman-Fried's other crypto business, Alameda Research, according to Reuters. His former girlfriend, Caroline Ellison, who ran Alameda from the Bahamas is a real nutcase. A recent tweet from her pretty well demonstrates her character. Sam Banker-Fraud Caroline Ellison This one will run and run. Edited 14 November, 2022 by Guided Missile Link to comment Share on other sites More sharing options...
Guided Missile Posted 14 November, 2022 Author Share Posted 14 November, 2022 A breakdown of the balance sheet of Sam Bankman-Fried’s exchange shared with investors a day before its bankruptcy filing shows that it had nearly US$9 billion in liabilities and US$900 million in liquid assets, US$5.5 billion in “less liquid” assets, and US$3.2 billion in “illiquid” assets, according to sources familiar with the matter who viewed a limited version of information. Most of the biggest holdings, including lower-profile cryptocurrencies Serum, Solana and FTT, have since plunged in value. Within 24 hours of the bankruptcy filing, an outflow of unauthorised crypto withdrawals – estimated at US$477 million by blockchain analytics firm Elliptic – further eroded the pile of assets available for possible customer recovery. FTX is launching an investigation with law enforcement into the suspected theft. Link to comment Share on other sites More sharing options...
Guided Missile Posted 14 November, 2022 Author Share Posted 14 November, 2022 2 minutes ago, Guided Missile said: FTT FTT is the crypto currency that FTX and Sam Banker-Fraud created/mined/dreamed-up. You couldn't make it up. Link to comment Share on other sites More sharing options...
Turkish Posted 14 November, 2022 Share Posted 14 November, 2022 Are you Soggys alter ego? 1 Link to comment Share on other sites More sharing options...
Guided Missile Posted 14 November, 2022 Author Share Posted 14 November, 2022 6 minutes ago, Turkish said: Are you Soggys alter ego? Jesus, you're obsessed with him, aren't you? 3 Link to comment Share on other sites More sharing options...
Raging Bull Posted 14 November, 2022 Share Posted 14 November, 2022 (edited) Western governments have given millions to Ukraine to fund the war. Zelensky put a big chunk of that money into FTX by the looks of it. Now it’s completely “gone”. FTX we’re big donators too. On a side note, anyone not holding their own crypto is making a big mistake in my opinion. Edited 14 November, 2022 by Raging Bull Link to comment Share on other sites More sharing options...
farawaysaint Posted 14 November, 2022 Share Posted 14 November, 2022 10 minutes ago, Raging Bull said: Western governments have given millions to Ukraine to fund the war. Zelensky put a big chunk of that money into FTX by the looks of it. Now it’s completely “gone”. FTX we’re big donators too. On a side note, anyone not holding their own crypto is making a big mistake in my opinion. What are you smoking? Link to comment Share on other sites More sharing options...
Guided Missile Posted 14 November, 2022 Author Share Posted 14 November, 2022 Not sure of any facts, just a tweet. Link to comment Share on other sites More sharing options...
badgerx16 Posted 14 November, 2022 Share Posted 14 November, 2022 36 minutes ago, Guided Missile said: Not sure of any facts, just a tweet. Whilst it is certain that Ukraine set up a conduit for crypto based donations to be fed into their central bank via FTX, this rumour seems to have, at present, very little substance other than online postings originating from RT. With regard to the premise of the OP, the whole crypto thing seems to be a handful of people trying to prove they are so much smarter than the majority. 1 Link to comment Share on other sites More sharing options...
farawaysaint Posted 14 November, 2022 Share Posted 14 November, 2022 3 minutes ago, badgerx16 said: Whilst it is certain that Ukraine set up a conduit for crypto based donations to be fed into their central bank via FTX, this rumour seems to have, at present, very little substance other than online postings originating from RT. With regard to the premise of the OP, the whole crypto thing seems to be a handful of people trying to prove they are so much smarter than the majority. I don’t know about that, decentralised finance as a concept is pretty awesome. Execution wise so far it’s the Wild West for scam artists, chancers and abusers 😂 Link to comment Share on other sites More sharing options...
tdmickey3 Posted 14 November, 2022 Share Posted 14 November, 2022 1 hour ago, Guided Missile said: Jesus, you're obsessed with him, aren't you? Yes he is 1 1 Link to comment Share on other sites More sharing options...
whelk Posted 14 November, 2022 Share Posted 14 November, 2022 1 hour ago, Guided Missile said: Not sure of any facts, just a tweet. Surprised they omitted from this croc of shit that some of the money went to Pelosi’s fella to pay for his gay hammer lover. 2 Link to comment Share on other sites More sharing options...
Mystic Force Posted 14 November, 2022 Share Posted 14 November, 2022 I am being entertained by the fact that a new form of money that is not meant to be encumbered by all those pesky regulations is being destroyed by an old fashioned bank run. Link to comment Share on other sites More sharing options...
Guided Missile Posted 14 November, 2022 Author Share Posted 14 November, 2022 3 minutes ago, Mystic Force said: I am being entertained by the fact that a new form of money that is not meant to be encumbered by all those pesky regulations is being destroyed by an old fashioned bank run. I've always wondered why the value of bitcoin is quoted in $US, not the other way round. Link to comment Share on other sites More sharing options...
The Kraken Posted 14 November, 2022 Share Posted 14 November, 2022 2 hours ago, tdmickey3 said: Yes he is It’s quite cool that you’ve only been on this forum a few weeks and in that time you’ve got yourself your own little one way e-war going on. Thumbs up. 2 Link to comment Share on other sites More sharing options...
Turkish Posted 14 November, 2022 Share Posted 14 November, 2022 54 minutes ago, The Kraken said: It’s quite cool that you’ve only been on this forum a few weeks and in that time you’ve got yourself your own little one way e-war going on. Thumbs up. Hmm I wonder in “Micky” went to school with any former saints players, Benali perhaps? 1 Link to comment Share on other sites More sharing options...
tdmickey3 Posted 15 November, 2022 Share Posted 15 November, 2022 (edited) 11 hours ago, The Kraken said: It’s quite cool that you’ve only been on this forum a few weeks and in that time you’ve got yourself your own little one way e-war going on. Thumbs up. War?? Just sick of trying to read threads of interest and having to see them get ruined by the constant targeting of one poster I am hoping the mods will put an end to it TBH Edited 15 November, 2022 by tdmickey3 2 Link to comment Share on other sites More sharing options...
Guided Missile Posted 15 November, 2022 Author Share Posted 15 November, 2022 35 minutes ago, tdmickey3 said: War?? Just sick of trying to read threads of interest and having to see them get ruined by the constant targeting of one poster I am hoping the mods will put an end to it TBH Use the ignore function, mate. It works for me and believe me, I have more abusive trolls than you do. Link to comment Share on other sites More sharing options...
badgerx16 Posted 15 November, 2022 Share Posted 15 November, 2022 (edited) 2 minutes ago, Guided Missile said: Use the ignore function, mate. It works for me and believe me, I have more abusive trolls than you do. As you are probably the most abusive poster on the forum, you deserve them. Edited 15 November, 2022 by badgerx16 1 Link to comment Share on other sites More sharing options...
Turkish Posted 15 November, 2022 Share Posted 15 November, 2022 1 hour ago, tdmickey3 said: War?? Just sick of trying to read threads of interest and having to see them get ruined by the constant targeting of one poster I am hoping the mods will put an end to it TBH a new account set up 3 days after MLGs last post where pretty much ever post you make has been having a go at other posters. I agree, lets hope the mods will put an end to it. Prat. 1 Link to comment Share on other sites More sharing options...
farawaysaint Posted 15 November, 2022 Share Posted 15 November, 2022 5 hours ago, Turkish said: a new account set up 3 days after MLGs last post where pretty much ever post you make has been having a go at other posters. I agree, lets hope the mods will put an end to it. Prat. Is Mlg gone? Sad sad day Link to comment Share on other sites More sharing options...
skintsaint Posted 15 November, 2022 Share Posted 15 November, 2022 23 minutes ago, farawaysaint said: Is Mlg gone? Sad sad day *Has Link to comment Share on other sites More sharing options...
farawaysaint Posted 15 November, 2022 Share Posted 15 November, 2022 23 minutes ago, skintsaint said: *Has Thank you, I needed the pedantry to feel like he was still with us. 1 Link to comment Share on other sites More sharing options...
skintsaint Posted 15 November, 2022 Share Posted 15 November, 2022 1 minute ago, farawaysaint said: Thank you, I needed the pedantry to feel like he was still with us. We can all pull together to cover the loss. Link to comment Share on other sites More sharing options...
Turkish Posted 15 November, 2022 Share Posted 15 November, 2022 2 hours ago, farawaysaint said: Is Mlg gone? Sad sad day No, he's still regularly logging in and adding reactions to posts plus using other logins. he stopped posting under MLG account after he made a tit of himself one time too many. 1 Link to comment Share on other sites More sharing options...
Guided Missile Posted 13 December, 2022 Author Share Posted 13 December, 2022 Bullshit doesn't, however, often work in a court of law. Fried is set to be fried, here. Quote Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, has been arrested in The Bahamas, the country's attorney general has said. He is scheduled to appear on Tuesday in a magistrates court in the Caribbean country's capital, Nassau. Police said Mr Bankman-Fried was arrested for "financial offences" against laws in the US and The Bahamas. Link to comment Share on other sites More sharing options...
farawaysaint Posted 13 December, 2022 Share Posted 13 December, 2022 27 minutes ago, Guided Missile said: Bullshit doesn't, however, often work in a court of law. Fried is set to be fried, here. His girlfriend who was widely believed to be hiding in the Middle East was spotted in the US as well and many believe she is there to flip on him. Link to comment Share on other sites More sharing options...
Picard Posted 13 December, 2022 Share Posted 13 December, 2022 Should leave him free as he's going to work hard to pay everybody back. https://www.bbc.com/news/technology-63911363 Link to comment Share on other sites More sharing options...
buctootim Posted 13 December, 2022 Share Posted 13 December, 2022 Seems to me most people who 'invest' in cryptocurrencies think there is some kind of super smart technological new way behind it when in fact they are just a giant ponzi schme . Would you have put money into FX if you'd seen their head office and CEO? Link to comment Share on other sites More sharing options...
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