Bankman-Fried Arrested In The Bahamas.

https://www.cbsnews.com/news/sam-ban...fraud-charges/

I suppose now he will be headed to the US.

What are the odds he will pull a Jeffery Epstein and “hangs himself” in his jail cell.

After all, a lot of powerful Democrats were saying….He’s a Beast. he’s a Rock Star”!!

Oh wait, that was their last God of Adulation, Michael Avennati..

https://www.cbsnews.com/news/sam-ban...fraud-charges/

I suppose now he will be headed to the US.

What are the odds he will pull a Jeffery Epstein and “hangs himself” in his jail cell.

After all, a lot of powerful Democrats were saying….He’s a Beast. he’s a Rock Star”!!

Oh wait, that was their last God of Adulation, Michael Avennati.. Originally Posted by Jackie S

The whole crypto thing looks to me like a con, a big Ponzi scheme, or a game of musical chairs. But damn, I wish I'd bought some bitcoin back when it was $0.12!

The whole crypto thing looks to me like a con, a big Ponzi scheme, or a game of musical chairs. But damn, I wish I'd bought some bitcoin back when it was $0.12! Originally Posted by Tiny

Here is what Crypto looks like.

“Give me $100,000, I will give you this “coin”. I keep the money.

Good Luck”.

Oh, by the way. Did I say “I keep the money”.

Nobody was forced to buy....I say fuck'em!

Donations to political candidates 45 Democrats 6 Republicans Democrats made sure he never made it to the US Even if he cooperates it could to take a year to extradite him

The whole crypto thing looks to me like a con, a big Ponzi scheme, or a game of musical chairs. But damn, I wish I'd bought some bitcoin back when it was $0.12! Originally Posted by Tiny

the ground floor usually work in chain letters and ponzi schemes

when you're a kid you can get away with trading another small kid your nickel for his dime

the nickel is bigger

as an adult with fomo working for you, you trade their money for your imaginary coin

and then with this guy, he just steals both

what i wondered when i saw a picture of him is how much wtf might be smitten with wanting to suckle the guy's tits

Nobody was forced to buy....I say fuck'em! Originally Posted by WTF

you are just being snarky. this clown moved his customer's money from the exchange to his hedge fund to cover his trading losses. so if your bank took all your money to cover their losses from bad loans you'd be like "nobody made me put money in the bank!" right?


bahahahaaa

https://www.cbsnews.com/news/sam-ban...fraud-charges/

I suppose now he will be headed to the US.

What are the odds he will pull a Jeffery Epstein and “hangs himself” in his jail cell.

After all, a lot of powerful Democrats were saying….He’s a Beast. he’s a Rock Star”!!

Oh wait, that was their last God of Adulation, Michael Avennati.. Originally Posted by Jackie S

Oh man! Quote your source for that one! Love it!

The whole crypto thing looks to me like a con, a big Ponzi scheme, or a game of musical chairs. But damn, I wish I'd bought some bitcoin back when it was $0.12! Originally Posted by Tiny

That's why Warren Buffet never bought into it.

Donations to political candidates 45 Democrats 6 Republicans Democrats made sure he never made it to the US Even if he cooperates it could to take a year to extradite him Originally Posted by LayingPipe

Guess if must be those republican appointments left in the FBI that are fast tracking getting him into court. Can't say FBI is left wing corrupt than.

you are just being snarky. this clown moved his customer's money from the exchange to his hedge fund to cover his trading losses. so if your bank took all your money to cover their losses from bad loans you'd be like "nobody made me put money in the bank!" right?


bahahahaaa Originally Posted by The_Waco_Kid

If you are an *idiot* to put your $$$ into a bank that doesn't have that left wing New Deal FDIC protection. Otherwise it's Caveat Empor (sp) if laws aren't clear on where your moving money to.

Nobody was forced to buy....I say fuck'em! Originally Posted by WTF

you are just being snarky. this clown moved his customer's money from the exchange to his hedge fund to cover his trading losses. so if your bank took all your money to cover their losses from bad loans you'd be like "nobody made me put money in the bank!" right?


bahahahaaa Originally Posted by The_Waco_Kid

If you are an *idiot* to put your $$$ into a bank that doesn't have that left wing New Deal FDIC protection. Otherwise it's Caveat Empor (sp) if laws aren't clear on where your moving money to. Originally Posted by Precious_b

Waco, Precious_b's answered you best.

I might add if one is silly enough to give their money to a con man and that con man steals their money AND GETS CAUGHT before he can cheat others out of their money aren't they in the category of "If it is to good to be true..." and deserve to take their lumps like the idiots they were?

Please tell me you haven't invested in this crypto crap.

If so , please explain your reasoning.

Waco, Precious_b's answered you best.

I might add if one is silly enough to give their money to a con man and that con man steals their money AND GETS CAUGHT before he can cheat others out of their money aren't they in the category of "If it is to good to be true..." and deserve to take their lumps like the idiots they were?

Please tell me you haven't invested in this crypto crap.

If so , please explain your reasoning. Originally Posted by WTF

nope. way too volatile. crypto doesn't pay any dividends, it's a currency not stocks so i'll stick with stocks.


as usual you gloss over the facts. the exchange was a legit business. upfront, presumably, so was the hedge fund. each were separate entities as they should be for obvious business reasons. the problem for the exchange users who should never have been tied to the hedge fund is that sammy boi controlled both. the exchange users were true innocent victims. the hedge fund, which i understand was private so was not open to typical investors, who knows who put money into it? some large institutional players did and they got burned. their risk is risk. they should know better. the exchange users had no risk at all. the exchange is for people wanting to convert one crypto for another. simple enough for you?


the hedge fund was the problem. it deals in FTT which is a crypto currency sammy boi created. the bulk of his hedge fund was backed by it. the hedge fund got overextended and to prop it up sammy boi illegally took customer funds from the exchange to put in the hedge fund. this caused a run of people trying to take out funds from the exchange and finding their accounts empty. then it all fell apart including the hedge fund.


some rival chinese dude in part caused it, by saying publicly that the hedge fund was in danger and thus the panic run on the exchange. by then for the exchange customers it was too late, sammy boi had already moved their funds.


you can argue sammy boi wasn't a conman at all. he certainly is a criminal now for taking the exchange customer's funds. sammy boi had a few years of legit experience as a junior trader for an established firm, as did several of the others including that butt ugly ex-gf of his. they thought that after just a few years in the industry, they knew enough about the game to run their own hedge fund, one largely backed by his own crypto currency and found out the hard way they were in way over their heads.


so now that i've explained it to ya, back to your ill-informed and snarky dismissal of the victims, the exchange users. not anyone involved in the hedge fund. i presume you have at least one and probably several (as i do) investment accounts, yes? and let's state the fact that while individuals can make trades directly with a standard brokerage account, an individual can't go out and buy stocks without a brokerage account. clear enough?


so let's say whoever is your brokerage firm suddenly makes bad institutional investments on their own positions and to cover it they empty your brokerage account and all their other individual customer accounts trying to cover their asses.


are you a victim? would you like it if some snarky dude on the internet says "i say fuck 'em!" for getting all your assets stolen?


you'd be yelling yer head off "I AM A VICTIM!!" and you know it.


the exchange users are innocent victims. just like you would be.

What is the topic ?
Do these recent posts have anything to do with whatever the topic is ?


Note: anytime you send your money off to an organization that is not insured by the government, you can get scammed and not get your money back.

What is the topic ?
Do these recent posts have anything to do with whatever the topic is ?


Note: anytime you send your money off to an organization that is not insured by the government, you can get scammed and not get your money back. Originally Posted by VitaMan

what's the topic ?


Bankman-Fried Arrested In The Bahamas.


thank you valued poster

if you say so





Thank you, valued poster.

if you say so





Thank you, valued poster. Originally Posted by VitaMan

i'm rather shocked that someone who opened a thread in the sandbox about crypto has nothing to add to this thread about crypto and the collapse of a crypto exchange and a crypto based hedge fund .. given your vast investing knowledge ....

apparently another company, BiFinance, was the one who pulled the plug on FTX. I didn't read the article, but saw the headline. evidently, they must've seen some fishy numbers from FTX and closed the account. this started a chain reaction within FTX to bankruptcy.