Meh, for the best I keep out of this thread as I'll probably end up being called a troll or someone will ask the mods to delete as they don't want me posting about crypto at all.
I'm not fully up to date, but wasn't it stable and would still be stable if the owner didnt commit fraud?You can find posts in the Crypto thread talking about how stable FTX is, how legit it is, certainly in no danger of going under. Not that old ones either. Pretty funny reading.
Not really. None of their practices were secure, auditable, competently administered, whatever you want to call it. They were signing off millions in expenses and loans via Teams chat and that type of thing. A complete mess of a company in a complete scam of an industry. With a bit of deliberate fraud on top most likely.I'm not fully up to date, but wasn't it stable and would still be stable if the owner didnt commit fraud?
this was the standard view in cryptoYou can find posts in the Crypto thread talking about how stable FTX is, how legit it is, certainly in no danger of going under. Not that old ones either. Pretty funny reading.
Yeah probably for the best. Or it will be murder on Murder on Zidane's Floor's dance floor.Meh, for the best I keep out of this thread as I'll probably end up being called a troll or someone will ask the mods to delete as they don't want me posting about crypto at all.
Suffice to say I hope anyone affected by this and the latest Binance issues get their money back/out.
Same with pretty much every subsequent site or exchange that has imploded.You can find posts in the Crypto thread talking about how stable FTX is, how legit it is, certainly in no danger of going under. Not that old ones either. Pretty funny reading.
Yeah probably for the best. Or it will be murder on Murder on Zidane's Floor's dance floor.
Fun fact: that guy was also in charge of figuring out what could still be gotten out of Enron, and he says that FTX is the worst he's ever seen.
If FTX was perceived safer really makes you wonder about the rest.the thing that made FTX have a slight layer of protection over the other crypto sites was they actually incorporated a company in the US, and were seeking out regulation there..
you’d think, given those facts, the founder would also be trying to keep things in check over there, and not committing massive fraud and theft.. which honestly just makes it all the weirder for me
he genuinely must be a narcissist to think he could get away with it, or thick as feck, or a bit of both
Agreedthe thing that made FTX have a slight layer of protection over the other crypto sites was they actually incorporated a company in the US, and were seeking out regulation there..
you’d think, given those facts, the founder would also be trying to keep things in check over there, and not committing massive fraud and theft.. which honestly just makes it all the weirder for me
he genuinely must be a narcissist to think he could get away with it, or thick as feck, or a bit of both
Thread FTX Founder Samuel Bankman-Fried Arrested/General Crypto Scams ThreadMeh, for the best I keep out of this thread.
He was specifically mentioned in the thread before commenting. Don’t see how that can be used against him.Thread FTX Founder Samuel Bankman-Fried Arrested/General Crypto Scams Thread
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Yeah, the risk is extremely high for all sorts of reasons. You can lose money just by making a basic feck up in a transfer, you don't even need to get scammed!If FTX was perceived safer really makes you wonder about the rest.
This is all why I stayed away from Crypto and will stay away from it. For a so called secure form of payment it is insanely insecure.
Yeah I know we've had long debates on the crpyto thread. I know I've missed out on a lot of crypto returns with my attitude of "I see no value" since 2015. I could have had a crap ton of money! But it just never has made sense to me and I can't invest in something that doesn't add up no matter how lucrative it is.Yeah, the risk is extremely high for all sorts of reasons. You can lose money just by making a basic feck up in a transfer, you don't even need to get scammed!
but scammers are everywhere too
But for me the ROI is still incredible, despite all the risks.. I got in very early though
Thats like saying the ocean would be dry if it wasn't full of water.I'm not fully up to date, but wasn't it stable and would still be stable if the owner didnt commit fraud?
Seems like they felt invincible through the last bull run and tried to leverage trade their way out of the dump with customer money and failed. I’m starting to wonder how safe the other big exchanges actually are. I believe some put up solvency proof but I didn’t look in to it.the thing that made FTX have a slight layer of protection over the other crypto sites was they actually incorporated a company in the US, and were seeking out regulation there..
you’d think, given those facts, the founder would also be trying to keep things in check over there, and not committing massive fraud and theft.. which honestly just makes it all the weirder for me
he genuinely must be a narcissist to think he could get away with it, or thick as feck, or a bit of both
It isn't really. No one can predict fraud. It jeff bezos or Elon musk done what this charlatan done and tesla or amazon suddenly collapsed you wouldn't say "it's pretty funny reading" about posters chatting about their investments in amazon and tesla.Thats like saying the ocean would be dry if it wasn't full of water.
From media reports it looks like the issues go back a long way.
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This guy is clearly the dumbest incredibly successful scammer ever. He's been spending the last few weeks continuously incriminating himself.Tweet
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Yep, little fecker tried to to depegg USDT just before Alameda was sent into bankruptcy. Personally I think he was doing as a ruse, as most traders use it as a holding coin on exchanges.Tweet
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Crazy right!when I originally saw the claim they tried to manipulate tether with $250k, I honestly thought it was a typo and they meant 250,000 BTC
Aye all over twitter. If it goes crypto is deadCrazy right!
I've DMd you ref the Binance rumours btw.
5bn in withdrawals today according to tWatterwhat is the TLDR on Binance then?
they have a feck-tonne in cold wallets, so would be surprised if they had liquidity issues
so there's a bank run and people are worried they can't cover it?5bn in withdrawals today according to tWatter
People exchanging Binance coins back into BTC?so there's a bank run and people are worried they can't cover it?
and why is bitcoin pumping during all this?
yeah that makes sensePeople exchanging Binance coins back into BTC?
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There is a good article about an inmate's 15-year experience in that prison here.Top 5 worst prisons in the world? Just from knowing absolutely nothing about the single prison in the Bahamas, I can confidently say there's no way that's true.