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Comments (45)
Any government official who took money from them should be required to return it. Shit is corrupt AF
So if you bought say $100 of Bitcoin on FTX they would show you a screen with some BTC balance, but it was actually a ruse in which they just straight up stole your $100.
Cool, so if they owe you $1000 at least you can get 60¢.
Just imagine how much higher Bitcoin would be if they actually bought Bitcoin when clients purchased it….
And people wonder why the BTC price didn’t break 100K. Nothing like those fake satoshis to push the price up lol
Another Edit – grammar
According to FTX math, I have 5000 BTC. 😆 🤣
Sweet. Maybe we should let some of his buddies ReGUlaTe BiTCoiN.
FTX’s “Paper Bitcoins” is the reason that the top was short of what everyone was convinced the top was to be. Causing Stock To Flow and several other predictions all to fail.
It also likely caused BTC to fall further down than predicted. It should have never fallen below the former ATH.
Not only did FTX screw their own customers, but they screwed EVERYONE by “issuing Bitcoin” they never had.
Wow, FTX really screwed up this time. Looks like their customers are out of luck and they’re not gonna get their money back. What a shame.
Greed is a crazy thing. You have to check yo self before you… I forget. Lol
Sorry, I opened the attached chart. Looks like a total of an 8.693 Billion dollar loss with BTC comprising 1.585 billion. What a cluster!!!
Classic bank move 1:1659 reserve policy
lol, pretty fucked that’s still more than most banks have in reserve…
Wow, FTX really screwed the pooch on this one. Maybe they should try their hand at a lemonade stand instead of handling other people’s Bitcoin.
Binance could have transferred enough off the books to cover that!
“In its latest backroom maneuver, Binance transferred $1.8 billion in stablecoin collateral to hedge funds, including Alameda and Cumberland/DRW, leaving its other investors exposed.”
https://www.forbes.com/sites/javierpaz/2023/02/27/binances-asset-shuffling-eerily-similar-to-maneuvers-by-ftx/
So much siphoned out to TradFi. Yikes.
Oof
When people were crying about ‘FUD’ lol
They sure Madoffed correctly.
Didn’t they supposedly recover over 5 billion in Jan
Ofc crypto did fractional reserve lending
Most likely the first thing that was spent to prop up the price or inflate the price of worthless FTT tokens
Yeah, not sure if you’ve heard but this ftx lot have made off with the dosh and/or spent it. Whoever is hanging on for reimbursement, good luck to you.
We’ve known this since November
Peanuts compared to Citadel’s $65 billion “securities sold not yet purchased”
1. W
Their customers are screwed
Sounds like you’re on the right track.
So… you’re saying there’s a chance
Might be issue lol
😂
FTX is a catastrophe and we have known that since November. Depositors are unlikely to see much, if any of their funds back. Voyager and Celsius are similar stories.
Soooo, like any other bank then.
What blows my mind is keeping in traded coins on an exchange. After listening about mt.gox in 2017. I never leave any crypto on an exchange
Yet Gary Gensler the most useless head of the SEC (and that is quite a feat to be that bad given the competition) met with SBF multiple times so he could help him rig regulation while refusing to meet with the people from legit projects. If you haven’t written to your politicians and demand they remove him, you are part of the problem.
How we can be sure that other exchanges are in better situation?
The future of finance
they bought tulips with rest of the money
“Not your keys, not yo-“
…oh why even bother
Что это все правда
That’s about how much actual US dollars in cash their is vs made up electronic cash. If everyone closed all their accounts and demanded greenbacks, each person would get 0.06 cents per dollar if they were lucky!
Customer receivable
Accounts receivable (AR) are an asset account on the balance sheet that represents money due to a company in the short term.
Accounts receivable are created when a company lets a buyer purchase their goods or services on credit.
This hobbit Sam is such a scumbag.
Will this figure change once the investigation into his political contributions is finished? 🤔
Lol Bitcoin is under the heading “Token”