FTX Megathread

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I am taking my crypto out of exchanges despite how everyone now seem to be posting about their proof or reserves shit
 
Ndiqi said:
I am taking my crypto out of exchanges despite how everyone now seem to be posting about their proof or reserves shit
Click to expand...
Exactly! That's why a hardware wallet is worth every penny.

These "proof of reserves" means nothing. It's just eyewash transparency. They must include information of liabilities.

Assets - Liabilities = Owner Equity

They are showing you one piece of the equation which are assets but it's meaningless unless you see liabilities, in this case to know if they have positive or negative equity.

Large amount of assets really don't mean anything without the context.

This is just Basic Accounting. Don't let yourself be fooled by these exchanges.
 
This year is quite devastating for crypto, but is this the end? Will we recover next year? So much drama from bad actors in crypto, it’s a damn shame
 
Crypto Marketing said:
Interesting article.

A new report by the Wall Street Journal claimed that the disgraced founder and former CEO of FTX took over 70% of the funds gathered from a funding round in October 2021.

https://cryptopotato.com/sbf-cashed-out-300m-following-420m-ftx-fundraiser-in-2021-report/
Click to expand...

This is what jail is made for

You know I rarely think there's shit people should be in jail for. Smoking whatever. Public sex.

But you know..... embezzling 10 billion dollars is right up there with the jail feelings.
 
bartosimpsonio said:
This is what jail is made for

You know I rarely think there's shit people should be in jail for. Smoking whatever. Public sex.

But you know..... embezzling 10 billion dollars is right up there with the jail feelings.
Click to expand...
Agreed. But the media is constantly whitewashing the actions of SBF because he donated his stolen funds to their political organizations. They should be ashamed!

We all here exactly know how and why FTX collapsed. We all know that SBF stole all of users funds to use them for himself and his other partners. We also know that this actions lead to millions of lives being ruined.

But many people outside of crypto do not really know what kind of a fraud SBF, FTX and Alameda Research were, why? Because the media has been in a full-time job trying to whitewash the actions of SBF and Co.

Here are some of the few examples from high-level media outlets people trust to show them the truth:

The Washington Post about FTX-collapse:

Screenshot_20221121_120231.jpg

This Washington Post article is doing nothing else but show SBFs actions in a good light. They especially highlight his extensive lobbying efforts which according to them were for “pandemic prevention“ and obviously not him trying to have political connection to do whatever he wants.

Reuters about the FTX-collapse:

Screenshot_20221121_120439.jpg

Now here we do not even have to go further and can see that the headline of this Reuters article is already trying to really make a billion-dollar scam to fill his own pockets look like a “favour“.

Forbes article on Caroline Ellison:
Screenshot_20221121_120555.jpg
Forbes is also just talking good about the co-CEO of Alameda Research, Caroline Ellison from whom we have already seen enough videos showing how highly mishandling she was. Forbes is portraying her as a “risk-loving“ person and a “math wiz“. This “risk-loving“ person risked and lost all the funds of millions of people around the world.

It is clear that the media must have been paid by SBF to write such “shill-articles“ about him and his companies. Nowadays you can not even trust the biggest media outlets to tell people the simple truth of a story that made millions of peoples life worse.

Thats just a shame!
 
Crypto Marketing said:
Agreed. But the media is constantly whitewashing the actions of SBF because he donated his stolen funds to their political organizations. They should be ashamed!

We all here exactly know how and why FTX collapsed. We all know that SBF stole all of users funds to use them for himself and his other partners. We also know that this actions lead to millions of lives being ruined.

But many people outside of crypto do not really know what kind of a fraud SBF, FTX and Alameda Research were, why? Because the media has been in a full-time job trying to whitewash the actions of SBF and Co.

Here are some of the few examples from high-level media outlets people trust to show them the truth:

The Washington Post about FTX-collapse:

View attachment 233121

This Washington Post article is doing nothing else but show SBFs actions in a good light. They especially highlight his extensive lobbying efforts which according to them were for “pandemic prevention“ and obviously not him trying to have political connection to do whatever he wants.

Reuters about the FTX-collapse:

View attachment 233122

Now here we do not even have to go further and can see that the headline of this Reuters article is already trying to really make a billion-dollar scam to fill his own pockets look like a “favour“.

Forbes article on Caroline Ellison:
View attachment 233123
Forbes is also just talking good about the co-CEO of Alameda Research, Caroline Ellison from whom we have already seen enough videos showing how highly mishandling she was. Forbes is portraying her as a “risk-loving“ person and a “math wiz“. This “risk-loving“ person risked and lost all the funds of millions of people around the world.

It is clear that the media must have been paid by SBF to write such “shill-articles“ about him and his companies. Nowadays you can not even trust the biggest media outlets to tell people the simple truth of a story that made millions of peoples life worse.

Thats just a shame!
Click to expand...

This is beyond shameful. There's a lot more to it than we know for sure.
 
What I hope everyone should learn from this is people who're trying very hard to make you think they're a good person... are most likely terrible people.

Virtue signalling is an attempt to trick people into thinking you're a good person.
 
Crypto Marketing said:
Agreed. But the media is constantly whitewashing the actions of SBF because he donated his stolen funds to their political organizations. They should be ashamed!

We all here exactly know how and why FTX collapsed. We all know that SBF stole all of users funds to use them for himself and his other partners. We also know that this actions lead to millions of lives being ruined.

But many people outside of crypto do not really know what kind of a fraud SBF, FTX and Alameda Research were, why? Because the media has been in a full-time job trying to whitewash the actions of SBF and Co.

Here are some of the few examples from high-level media outlets people trust to show them the truth:

The Washington Post about FTX-collapse:

View attachment 233121

This Washington Post article is doing nothing else but show SBFs actions in a good light. They especially highlight his extensive lobbying efforts which according to them were for “pandemic prevention“ and obviously not him trying to have political connection to do whatever he wants.

Reuters about the FTX-collapse:

View attachment 233122

Now here we do not even have to go further and can see that the headline of this Reuters article is already trying to really make a billion-dollar scam to fill his own pockets look like a “favour“.

Forbes article on Caroline Ellison:
View attachment 233123
Forbes is also just talking good about the co-CEO of Alameda Research, Caroline Ellison from whom we have already seen enough videos showing how highly mishandling she was. Forbes is portraying her as a “risk-loving“ person and a “math wiz“. This “risk-loving“ person risked and lost all the funds of millions of people around the world.

It is clear that the media must have been paid by SBF to write such “shill-articles“ about him and his companies. Nowadays you can not even trust the biggest media outlets to tell people the simple truth of a story that made millions of peoples life worse.

Thats just a shame!
Click to expand...

The media really are pure evil. They're either shitting out propaganda, trying to divide society, or straight up lying.
 
bartosimpsonio said:
This is beyond shameful. There's a lot more to it than we know for sure.
Click to expand...
They are masons brother. Dude knew he has a big political back to get away with it, contributed in washing money for firearms through Ukraine, similar crap. Its crazy how he is not yet in jail and sweet Caroline not selling what poor women sell on the streets, yet.
 
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