Announcement

Collapse
No announcement yet.

FTX says investigating 'unauthorized transactions' - Ontario, CA Teachers marks down $95 million investment in FTX to zero - also BlockFi files for bankruptcy

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • FTX says investigating 'unauthorized transactions' - Ontario, CA Teachers marks down $95 million investment in FTX to zero - also BlockFi files for bankruptcy

    https://www.reuters.com/technology/f...ns-2022-11-12/
    Nov 12 (Reuters) - Collapsed crypto exchange FTX said on Saturday it had seen "unauthorized transactions", with analysts saying millions of dollars worth of assets had been withdrawn from the platform.

    Blockchain analytics firm Elliptic said that around $473 million worth of cryptoassets were "moved out of FTX wallets in suspicious circumstances early this morning," but that it could not confirm that the tokens had been stolen...
    Last edited by Emily; November 22, 2022, 05:35 AM.
    _____________________________________________

    Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

    i love myself. the quietest. simplest. most powerful. revolution ever. ---- nayyirah waheed
    Governments don't have or own souls.

    (My posts are not intended as advice or professional assessments of any kind.)
    Never forget Excalibur.

  • #2
    https://sonar21.com/did-russia-just-strike-poland/
    15 November 2022 by Larry Johnson
    ...

    The United States, by contrast, is exercising great caution. Part of the reason for that hesitancy is the financial collapse of FTX, which is exposing evidence that the Democrats, some Republicans, the Ukrainians and FTX organized an elaborate financial kickback scheme. The scheme involved promising members of Congress who sent money to Ukraine a hefty contribution in turn from a Democrat benefactor. In this case, the owner of FTX. Once the U.S. dollars were credited to Ukraine’s account, President Zelensky and his partners diverted some of the proceeds to purchase crypto currency from FTX. FTX, in turn, sent some of that funds back to the cooperating members of Congress and the Democrat National Committee. This scheme is unraveling. The dummies mistakenly believed that crypto is untraeable. Nope. Thanks to block chain, eminently traceable....
    _____________________________________________

    Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

    i love myself. the quietest. simplest. most powerful. revolution ever. ---- nayyirah waheed
    Governments don't have or own souls.

    (My posts are not intended as advice or professional assessments of any kind.)
    Never forget Excalibur.

    Comment


    • #3
      ha! just an old fashioned ponzi scheme...

      Comment


      • Emily
        Emily commented
        Editing a comment
        Certainly could have that element. Larry Johnson's new post has an interview where he says his friend in the DEA said the whole FTX issue started with an investigation into fentanyl money laundering. That uncovered possible fraud and possible foreign government corruption.

    • #4
      They use the analogy of the tide going out and revealing hidden things for the Fed tightening of credit. I think of it as drying up Lake Meade revealing the mob's skeletons, or may a garbage dump or old foundation getting dug up in New Jersey.


      FTX cryptocurrency scandal is just the beginning | Will Cain Podcast

      145K views 2 days ago
      _____________________________________________

      Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

      i love myself. the quietest. simplest. most powerful. revolution ever. ---- nayyirah waheed
      Governments don't have or own souls.

      (My posts are not intended as advice or professional assessments of any kind.)
      Never forget Excalibur.

      Comment


      • #5
        See who's got the dirty money - start here:
        https://www.fec.gov/data/receipts/in...0bankman-fried

        I think there are other FTX/Alameda Research affiliated 'donors', too.

        https://nypost.com/2022/11/16/gillib...r-ftx-debacle/
        Gillibrand latest Democrat to dump Biden megadonor Sam Bankman-Fried after FTX debacle
        By Steven Nelson
        November 16, 2022

        WASHINGTON — Sen. Kirsten Gillibrand is the latest politician to say she will offload campaign contributions from disgraced former cryptocurrency “billionaire” Sam Bankman-Fried — who poured millions into electing President Biden before his business FTX went bust last week with up to $2 billion in client funds missing.

        The New York Democrat moved to distance herself from Bankman-Fried following similar steps by at least four other congressional Democrats and one Republican — as FTX’s collapse echoes the downfall of Bernie Madoff’s infamous Ponzi scheme, with victims ranging from a teachers’ pension fund to elite venture capitalists and institutional bankers...
        _____________________________________________

        Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

        i love myself. the quietest. simplest. most powerful. revolution ever. ---- nayyirah waheed
        Governments don't have or own souls.

        (My posts are not intended as advice or professional assessments of any kind.)
        Never forget Excalibur.

        Comment


        • #6
          bump this

          Comment


          • #7
            https://www.axios.com/newsletters/axios-markets
            November 19, 2022
            Felix Salmon
            ...
            The downfall of SBF hit the effective altruism (EA) movement particularly hard.

            State of play: SBF was one of the largest donors in the EA ecosystem, and that source of funds has dried up forever.
            • Other believers in EA are reconsidering their prior beliefs in light of what they've learned about SBF.
            • Even SBF himself turns out to have professed his belief in EA largely for selfish reasons.
            ...

            Where it stands: The weakness of pursuing low-probability outcomes with positive expected value has become very obvious — especially within the EA community, which is small and very focused on the FTX fiasco.

            For the record: In a Twitter DM conversation, Vox's Kelsey Piper put it to SBF that he was "really good at talking about ethics, for someone who kind of saw it all as a game."
            • "Ya," SBF replied. "hehe."
            • "I had to be. It's what reputations are made of."
            • SBF talked about how "we woke westerners" play a game — where "we say all the right shibboleths and so everyone likes us."
            _____________________________________________

            Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

            i love myself. the quietest. simplest. most powerful. revolution ever. ---- nayyirah waheed
            Governments don't have or own souls.

            (My posts are not intended as advice or professional assessments of any kind.)
            Never forget Excalibur.

            Comment


            • #8
              Money, including pandemic stimulus, flowed into a lot of unusual alternative investment vehicles over the past decade as interest rates were held artificially low to stimulate the economy. Interest rates have returned to normal. One year bank CDs now pay over 4% with no risk to the average consumer. Series I savings bonds have been paying over 6% for the past year. A lot of this money is going to try to flow back out of these alternative investments and back into the banks and into government bonds, and some of these alternative investments were not set up to be able to withstand that kind of outflows of money.

              That, and some of those alternative investments were simply scams in the first place and are now being exposed.

              Comment


              • Emily
                Emily commented
                Editing a comment
                That's a very clear synopsis of the big picture, Alert. The Will Cain interview of Jeffry Tucker goes into that at length. If Powell is truly serious about fighting inflation, rates have to go much higher to match the inflation rate. Tucker thinks he is serious, but I think a law was passed in the 70's that gives congress more control over Fed policy. That is why I think we have so many bubbles that benefit insiders at the expense of everyone else. Cain looks very worried about his 401K at the end.

            • #9
              https://www.pionline.com/pension-fun...tment-ftx-zero
              November 18, 2022 01:23 PM

              Ontario Teachers marks down $95 million investment in FTX to zero

              Bloomberg

              Ontario Teachers' Pension Plan said it will write down its stake in FTX to zero, taking a $95 million loss barely a year after making its first investment in Sam Bankman-Fried's now-bankrupt cryptocurrency exchange.

              Teachers said the write-down will have only a "limited impact" because it's less than 0.05% of the C$242.5 billion ($182 billion) pension fund. "However, we are disappointed with the outcome of this investment, take all losses seriously and will use this experience to further strengthen our approach," it said in a statement Thursday...
              _____________________________________________

              Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

              i love myself. the quietest. simplest. most powerful. revolution ever. ---- nayyirah waheed
              Governments don't have or own souls.

              (My posts are not intended as advice or professional assessments of any kind.)
              Never forget Excalibur.

              Comment


              • #10
                They were after all asset classes in the US, not just crypto. If this wasn't stopped now, it would have been a major disaster for the country.


                CME Group CEO Terry Duffy reacts to FTX collapse, called Sam Bankman-Fried an 'absolute fraud'
                152,749 views Nov 22, 2022

                https://sonar21.com/who-funded-ftx-a...he-key-issues/
                Who Funded FTX and Why? That Is One of the Key issues
                20 November 2022 by Larry Johnson
                _____________________________________________

                Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

                i love myself. the quietest. simplest. most powerful. revolution ever. ---- nayyirah waheed
                Governments don't have or own souls.

                (My posts are not intended as advice or professional assessments of any kind.)
                Never forget Excalibur.

                Comment


                • #11
                  This supports that FTX was a device intended to be used to re-structure the capital markets. Dumb as that plan was, now there is another.

                  https://nypost.com/2022/11/26/sec-ch...d-ftx-scandal/
                  SEC chair Gary Gensler rushing to unveil big changes amid FTX scandal

                  By Charles Gasparino
                  November 26, 2022 8:31pm Updated

                  You would think that with the FTX scandal still brewing and investors missing billions of dollars from their supposedly secured crypto accounts, Securities and Exchange Commission chair Gary Gensler would have so much on his plate, he wouldn’t have time to muck around in our capital markets, which are working just fine.

                  But sources tell me Gensler is doing just that — preparing to unveil plans for the biggest changes in about two decades to the way stocks are routed from buyers to sellers. If Gensler’s timing holds, he will announce (possibly this week) an open meeting for mid-December that will detail his plan to remake the nation’s $46 trillion stock market, as I first reported on Fox Business.

                  The idea is to jam out his proposed changes — and they’re pretty significant — before year’s end.
                  Why the rush? The word inside the SEC is that Gensler wants to get much of the work on it done before the new GOP Congress takes over Jan. 3. While a probe of Hunter Biden’s swampy business dealings is high on the list of the incoming committee chairs, Gensler knows he also has a target on his back for his ambitious — some would say zealous — progressive agenda at an agency that has a core mission of protecting investors from being ripped off by scammers.

                  The Gensler SEC has moved so far beyond this mission that he’s looking to score lefty points and join the Environmental Social Governance bandwagon by forcing companies to disclose non-financial metrics such as how they are reducing their carbon footprint.

                  The House Financial Services Committee, meanwhile, is intent on grilling Gensler on what he knew about the shenanigans of Sam Bankman-Fried, the Democratic megadonor under criminal investigation over the implosion of the crypto exchange FTX. The company is now in bankruptcy, while SBF, as he’s known, remains in the Bahamas....
                  _____________________________________________

                  Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

                  i love myself. the quietest. simplest. most powerful. revolution ever. ---- nayyirah waheed
                  Governments don't have or own souls.

                  (My posts are not intended as advice or professional assessments of any kind.)
                  Never forget Excalibur.

                  Comment


                  • #12
                    I bet he'll be speaking remotely over Zoom - or maybe not.

                    https://twitter.com/JackFarley96/sta...20898165006349


                    Jack Farley
                    @JackFarley96

                    Holy ****, Sam Bankman-Fried just confirmed that he **WILL** be speaking at the New York Times conference on 11/30 (!!). Was Andy Fastow (CFO of Enron) not available? NYT's site describes him as "investor, entrepreneur and PHILANTHROPIST..."



                    2:53 PM · Nov 23, 2022·Twitter Web App
                    _____________________________________________

                    Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

                    i love myself. the quietest. simplest. most powerful. revolution ever. ---- nayyirah waheed
                    Governments don't have or own souls.

                    (My posts are not intended as advice or professional assessments of any kind.)
                    Never forget Excalibur.

                    Comment


                    • #13
                      NYT can sure pick their lineups, Yellen, Zelensky, Zuckerberg and the unfortunate others pictured. Gives me that Titanic feeling.

                      https://twitter.com/TPostMillennial/...60113401843713


                      The Post Millennial
                      @TPostMillennial

                      Disgraced FTX founder and now-former CEO Sam Bankman-Fried confirmed that he was still slated to speak at the DealBook Summit on November 30.




                      thepostmillennial.com
                      FTX founder SBF confirms NYT speaking event with Biden’s treasury sec Yellen, Zelensky, Zuckerberg
                      Bankman-Fried is no longer the CEO of FTX, and new management has made clear that he has nothing to do with the company.

                      6:20 PM · Nov 26, 2022·Hootsuite Inc.
                      _____________________________________________

                      Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

                      i love myself. the quietest. simplest. most powerful. revolution ever. ---- nayyirah waheed
                      Governments don't have or own souls.

                      (My posts are not intended as advice or professional assessments of any kind.)
                      Never forget Excalibur.

                      Comment


                      • #14
                        Another company, BlockFi, has filed for bankruptcy.

                        BlockFi files for bankruptcy protection, set to sue Sam Bankman-Fried over collateral


                        Danny Park
                        Tue, November 29, 2022 at 2:54 AM

                        https://finance.yahoo.com/news/block...075429409.html

                        Comment


                        • #15
                          Don't know if this is related, but the missing money has to park somewhere.

                          https://finance.yahoo.com/news/walle...033806842.html
                          Wallet linked to defunct crypto exchange BTC-e suddenly activates

                          Lachlan Keller
                          Thu, November 24, 2022 at 12:38 PM

                          A wallet address linked to defunct crypto exchange BTC-e sent its largest transaction since August 2017 on Wednesday, sending a total of 10,000 BTC (US$167 million) to two unknown wallets, according to blockchain analytics firm Crystal Blockchain after being noticed by crypto sleuth Sergey Mendeleev.

                          Fast facts
                          • One of the wallets that received 3,500 BTC forwarded 300 BTC onto another wallet, which was subsequently split even further into several further wallets, while the other wallet has still held onto the remainder of the funds.
                          • BTC-e was shut down by the Federal Bureau of Investigation (FBI) in 2017 for alleged money laundering after handling an estimated US$9 billion between its founding in 2011 and that time....
                          _____________________________________________

                          Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

                          i love myself. the quietest. simplest. most powerful. revolution ever. ---- nayyirah waheed
                          Governments don't have or own souls.

                          (My posts are not intended as advice or professional assessments of any kind.)
                          Never forget Excalibur.

                          Comment

                          Working...
                          X