There is a rumour of FTX insolvency
- Thread starter troubled soul
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Source :FT
Seems Bahamas︂ acted swiftly and froze assets (if there are any relevant)
The Bahamas securities regulator has︃ frozen the assets of part of Sam Bankman-Fried’s crypto empire and moved to appoint a︄ liquidator for one of his entities, as the entrepreneur raced to raise as much as︅ $8bn to save FTX.
The Securities Commission of The Bahamas took the action on Thursday︆ against FTX Digital Markets, the Bahamian subsidiary of FTX. No assets belonging to the︇ business can be transferred without the approval of a provisional liquidator, the regulator said. FTX︈ moved to the Bahamas in 2021 from Hong Kong, where it was launched.
The commission︉ is aware of public statements suggesting that clients’ assets were mishandled, mismanaged and/or transferred to︊ Alameda Research,” the announcement said. Alameda is Bankman-Fried’s crypto trading business.
Seems Bahamas︂ acted swiftly and froze assets (if there are any relevant)
The Bahamas securities regulator has︃ frozen the assets of part of Sam Bankman-Fried’s crypto empire and moved to appoint a︄ liquidator for one of his entities, as the entrepreneur raced to raise as much as︅ $8bn to save FTX.
The Securities Commission of The Bahamas took the action on Thursday︆ against FTX Digital Markets, the Bahamian subsidiary of FTX. No assets belonging to the︇ business can be transferred without the approval of a provisional liquidator, the regulator said. FTX︈ moved to the Bahamas in 2021 from Hong Kong, where it was launched.
The commission︉ is aware of public statements suggesting that clients’ assets were mishandled, mismanaged and/or transferred to︊ Alameda Research,” the announcement said. Alameda is Bankman-Fried’s crypto trading business.
Contagion effect party clow#¤%
I wonder how many more exchanges and scams will fail in the next few days...
https://www.bloomberg.com/news/arti...thdrawals-says-can-no-longer-operate-as-usual
I wonder how many more exchanges and scams will fail in the next few days...
https://www.bloomberg.com/news/arti...thdrawals-says-can-no-longer-operate-as-usual
FTX CEO does not even give damn about his own hair so how is he gonna give a damn about customer assets. The Bahamas regulators indeed have frozen the assets here and rightly so.
USDT is no better. The Bahamas regulators should tell USDT to find banking outside the island asap. People blindly believe in USDT and they offer no audited financials yet - just excuses after excuses ns2. I drove past their bank here in Bahamas (Deltec Bank) btw. You can read about it in below thread.
https://www.offshorecorptalk.com/threads/deltec-bank.37831/#post-219272
USDT is no better. The Bahamas regulators should tell USDT to find banking outside the island asap. People blindly believe in USDT and they offer no audited financials yet - just excuses after excuses ns2. I drove past their bank here in Bahamas (Deltec Bank) btw. You can read about it in below thread.
https://www.offshorecorptalk.com/threads/deltec-bank.37831/#post-219272
We had our fair share of exchange about this, but︀ since you bring it up I also feel free to repeat my points. I am︁ not endorsing USDT, currently do not hold any (only form of safe fiat in my︂ view is usd in cash bills).
But we gotta put things into perspective.
People do︃ not believe blindly in USDT at all. It is by far one of the most︄ bashed, trashed and hated project, and they got shat on for years (not months or︅ days like other projects, but years).
As we know, being audited does not prove anything︆ and is even more counterproductive.
Credit suisse joins the ranks (most prob had a secret︇ bailout by the fed).
And now guys, hold on to your seat, FTX was regulated︈ as well and audited 😉 double lol
https://help.ftx.com/hc/en-us/articles/360031171351-Security-Policy"Financial Audit
FTX has successfully undergone a US︉ GAAP financial audit for 2021 and plans to continue undergoing regular audits.
"
What more︊ of a joke do audits mean? They can be discarded as pretty much useless again.︋
Also Wirecard was audited and and and.
Whereas USDT did pass every (!) market test︌ they had so far. Still running fine and I can redeem for 1usd.
In May/June︍ there was even a stable coin crisis (a crisis in their house basically, bc everyone︎ thought all stables are made equally), not a single blip only some price swings (but️ I could again redeem at 1$).
I wonder when and what is needed for them to go down?
But we gotta put things into perspective.
People do︃ not believe blindly in USDT at all. It is by far one of the most︄ bashed, trashed and hated project, and they got shat on for years (not months or︅ days like other projects, but years).
As we know, being audited does not prove anything︆ and is even more counterproductive.
Credit suisse joins the ranks (most prob had a secret︇ bailout by the fed).
And now guys, hold on to your seat, FTX was regulated︈ as well and audited 😉 double lol
https://help.ftx.com/hc/en-us/articles/360031171351-Security-Policy"Financial Audit
FTX has successfully undergone a US︉ GAAP financial audit for 2021 and plans to continue undergoing regular audits.
"
What more︊ of a joke do audits mean? They can be discarded as pretty much useless again.︋
Also Wirecard was audited and and and.
Whereas USDT did pass every (!) market test︌ they had so far. Still running fine and I can redeem for 1usd.
In May/June︍ there was even a stable coin crisis (a crisis in their house basically, bc everyone︎ thought all stables are made equally), not a single blip only some price swings (but️ I could again redeem at 1$).
I wonder when and what is needed for them to go down?
I do not know how many people know that this Sam guy bidding to buy Twitter...just before a month.......salute to his guts.....I do not have word for this guy. ..... another level psycho...... criminal minded....I do not think that he is un aware of his probelm when he bidding to buying Twitter......
This whole episode, will the learning lesson for all investors.......how fraud this hoodie guys are ....they showing the world they do not care about money.......do not done thier hair.....wear some funny cloth....presenting themselves as a some short of genius.....even big experienced investors are failing to recognise this crooks........
This whole episode, will the learning lesson for all investors.......how fraud this hoodie guys are ....they showing the world they do not care about money.......do not done thier hair.....wear some funny cloth....presenting themselves as a some short of genius.....even big experienced investors are failing to recognise this crooks........
FTX is a ponzi scam always was........
FTX made basicly money by having Alameda Research making market on their FTX exchange creating demand by MM and increasing marketcap quickly for worthless tokens for which they got a share of xx% of all tokens and dumped them to retailers.
FTT was the same way pumped by Alameda Research without having any realistic value in backend.
They pumped their sheet with the increasing price of FTT token since they hold more tokens than there even exist in open market.
Big majority of their asset sheets like 60% were FTT tokens and the rest the worthless tokens they︀ got for pumping them and bringing to the market.
So how is FTX going to︁ pay customers with their FTT when there are no buyers.
Big Ponzi which SBF said︂ himself long time ago in an interview.
Dumb kid of a rich family with ties..........what︃ a coincidence as always
All this done so people CRY and ACCEPT crypto regulations which︄ is going to protect them against these kind of frauds......
FTX made basicly money by having Alameda Research making market on their FTX exchange creating demand by MM and increasing marketcap quickly for worthless tokens for which they got a share of xx% of all tokens and dumped them to retailers.
FTT was the same way pumped by Alameda Research without having any realistic value in backend.
They pumped their sheet with the increasing price of FTT token since they hold more tokens than there even exist in open market.
Big majority of their asset sheets like 60% were FTT tokens and the rest the worthless tokens they︀ got for pumping them and bringing to the market.
So how is FTX going to︁ pay customers with their FTT when there are no buyers.
Big Ponzi which SBF said︂ himself long time ago in an interview.
Dumb kid of a rich family with ties..........what︃ a coincidence as always
All this done so people CRY and ACCEPT crypto regulations which︄ is going to protect them against these kind of frauds......
Sam Bankman-Fried resigns as CEO of FTX as cryptocurrency exchange files for Chapter 11 U.S. bankruptcy
Check out this article from MarketWatch - Sam Bankman-Fried resigns as CEO of FTX as cryptocurrency exchange files for Chapter 11 U.S. bankruptcy
Check out this article from MarketWatch - Sam Bankman-Fried resigns as CEO of FTX as cryptocurrency exchange files for Chapter 11 U.S. bankruptcy
Good, facts are clear. Losses made (maybe after some years something comes back) and accepted. Case closed, and off to new races.
Even the ones who are unaffected by the FTX bankruptcy should better rethink their startegy: Governmets finally have a free-pass to overregulate the crypto market and strangulate it to death.
FTX RIP.
Folk on here may have noticed that I have stopped arguing with people for a while now. Why???? Because it is easier to let people find out the hardway sometimes.
Folk on here may have noticed that I have stopped arguing with people for a while now. Why???? Because it is easier to let people find out the hardway sometimes.
I can related with this....for myself also..As I growing up.......by reading or listening you can not learn anything meaningful...Only bad experience can teach you "the true lesson of life..."...
Most online debate are focusing on proving oneself right and put other person down...nothing constructive
Most online debate are focusing on proving oneself right and put other person down...nothing constructive
Seems Drama is just started
FTX Faces Potential Hack, Sees Mysterious Outflows Totaling More than $600M
https://www.coindesk.com/business/2...late-night-outflows-totalling-more-than-380m/
FTX Faces Potential Hack, Sees Mysterious Outflows Totaling More than $600M
https://www.coindesk.com/business/2...late-night-outflows-totalling-more-than-380m/
That wont be a hack. They are draining all the money and run. If that is such a smart move, idk. He still pissed on a broad base of people who gotta be quite upset.
The better move would have been to haircut all accounts equally and issue them a rescue token instead. But he seems immature af and clearly unfit for stressful situations.
The better move would have been to haircut all accounts equally and issue them a rescue token instead. But he seems immature af and clearly unfit for stressful situations.
LOL, It is pretty obvious......Timing of hack say it all...The timing is way too convenient.....This guy claiming that He did not care about money....he want to donate his all money....now see How greedy he really is !!!!
Such a low life human !!!!!! May NSA having logged all of #FTX's & Alameda Research's blockchain transactions from day one.
What a time︀ we live in !!!
Can any Bahamas resident put some light on what happening at︁ their HQ in Bahamas ?
BTW
Make sure you enjoy your weekend. Life is short.︂ Money ain’t everything. Go have a good time
Such a low life human !!!!!! May NSA having logged all of #FTX's & Alameda Research's blockchain transactions from day one.
What a time︀ we live in !!!
Can any Bahamas resident put some light on what happening at︁ their HQ in Bahamas ?
BTW
Make sure you enjoy your weekend. Life is short.︂ Money ain’t everything. Go have a good time
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