Sam Bankman-Fried tries to explain himself (Private DM chat with Sam Bankman…)
SPECIFICALLY FOR THOSE THAT HAVE A VESTED INTEREST IN EVERYTHING FTX (MILLIONS OF CUSTOMER HAVE LOST 100%) …
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POSTING INFORMATION
you sure its ‘millions’ of customers..???
May be a misstatement….
Just quoting reports from yesterday (as I remember them of course).
The appointed receiver (new CEO) said “a million customers” located around the world in >134 distinct legal corporations owned 100% by FTX (or subsidiaries of FTX that in turn are owned 100% by the parent). The receiver has said that they have not yet figured out how to identify all of them because there are so many and has asked same to contact his team to ensure they are on the list of creditors. Losses were estimated as high as $50B but this can only be a guesstimate as receiver has said ALL Financial Statements filed are false and untrustworthy.
Auditing company that issued “audited financial statements” only exists in the META VERSE and is a virtual company — imagine that!!!!!!!!!!!!!
Perhaps more accurate to say “at least 1 Million” have lost 100% …. but the final number is still being chased so also could be multiple millions.
ALSO – huge controversy as FTX says Bahama government “forced” execs to move “hundreds of millions of $$$ worth of tokens” into Bahamian Gov’t control on the day AFTER the bankruptcy filing was done AND then filed a separate and distinct bankruptcy in NEW YORK courts (more favourable jurisdiction) to ensure that Bahamas retains control. Much discussion on whether this was to benefit execs by moving funds into friendly hands. Have no doubt this will hit the news shortly.
Original bankruptcy filing has only been able to identify and freeze less than $500M (I think number was $340M or $430M).
Seems like every hour a new “I can’t believe they did that” event unfolds………….
Still no arrests!
Here is one (just hit news) ….
The Ontario Teachers’ Pension Plan says it is writing down its US$95-million investment in FTX, the cryptocurrency exchange that collapsed last week, to zero…….
https://www.msn.com/en-ca/money/topstories/ontario-teachers-pension-plan-writes-down-ftx-investment-to-zero/ar-AA14gp5R?ocid=msedgntp&cvid=40ed232b3d534546970b932a550b3479
Every minute something new hits the wires — here’s Tucker from last night……….
https://www.youtube.com/watch?v=UaxEK-lDVys&t=125s
And another………
Hong Kong’s leading crypto retail operator says it ceases trading as FTX fallout roils sector
https://www.reuters.com/technology/hong-kongs-leading-crypto-retail-operator-says-it-ceases-trading-ftx-fallout-2022-11-18/?taid=637781e2ce922e00017a3a92
“We have ceased trading, as we don’t know which counterparties would fail next, so we would rather close out all our positions to regain some of our liquidity,”
CHECK THIS OUT — Auto Deleted Communications (no audit trail to convict upon as it was automatically wiped out) — Backdoors into software (funds stolen ever after the SHTF) – NO records of customer deposits (who, how many, how much not documented)…and SO MUCH MORE!
https://www.nakedcapitalism.com/2022/11/ftx-new-ex-enron-ceo-finds-complete-absence-of-trustworthy-financial-information-3-3-billion-loans-to-sbf-customer-deposits-not-recorded-on-balance-sheets-confirms-software-backdoors-auto.html
THIS IS A WEF SUPPORTER….BIG TIME…MY DAUGHTER IS AN ONTARIO TEACHER AND I HAVE TOLD HER WBOUT HOW CORRUPT THEIR PENSION FUND IS…MAYBE THEY WILL GO BUST AND SHE WILL AGAIN BE A DEPENENT…SHEESH
WOW K2…..WHAT A SHOT SHOW !
THANKS FOR TRYING TO STAY ON TOP OF IT
SEE BENEVOLENT ALTRUISM POST