14-01-2023, 07:47 PM
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
![](https://i.imgur.com/CLvY2jA.png")
FTX : Wild lifestyle of SBF and his GF
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
14-01-2023, 08:28 PM
Money, tons of money continued to fall from the sky mah!
14-01-2023, 08:34 PM
14-01-2023, 08:38 PM
Temasick scammed by FTX to fund their lavish lifestyles
MOM scammed by CECA to fund their future
MOE scammed by FTs to fund their hopes
What a bunch of useless PAP leaders
MOM scammed by CECA to fund their future
MOE scammed by FTs to fund their hopes
What a bunch of useless PAP leaders
Why do we need 5 Mayors and 80 PAP Ministers?
![[+]](https://sgtalk.net/images/bootbb/collapse_collapsed.png)
14-01-2023, 08:41 PM
14-01-2023, 08:42 PM
14-01-2023, 11:31 PM
15-01-2023, 12:13 AM
‘The Devil In Nerd’s Clothes’: How Sam Bankman-Fried’s Cult Of Genius Fooled Everyone
Crypto insiders paint a picture of a charismatic tech founder who became the darling of high-powered investors, even as he was brazen about his cryptocurrency exchange’s shaky business model and kept the books closed to all but a few confidants.
Well before the catastrophic collapse of his FTX cryptocurrency exchange, Sam Bankman-Fried told everyone what he was doing. He told them about his appetite for risk. He told them some crypto exchanges were “secretly insolvent.” Last year, when declaring his net worth to be an estimated $10 billion, he said it was in “mostly illiquid” assets. Even when Bloomberg's Matt Levine suggested he was in the "Ponzi business" during an interview in April, Bankman-Fried didn't disagree. "I think that's a pretty reasonable response," he said.
That he was headed for calamity was inevitable. But with the ecosystem of hype and awe built around him, few heard what he was really saying. Employees, customers, and investors alike all saw the dollar signs being minted from his crypto market makers, including FTX, leaving few reasons to believe what Bankman-Fried had been saying all along. Prominent FTX backer Sequoia Capital was also caught in the gravitational pull, publishing a now-deleted 14,000 word paean to Bankman-Fried that likened him to fictional protagonist Jay Gatsby. (“Is crypto the new jazz?” the author wondered, apparently not considering that the titular Gatsby earned his fortune through crime.) This week, Sequoia wrote down its $213 million FTX investment to $0.
“Sam Bankman-Fried was the devil in nerd’s clothes,” said a BlockFi director whose future is now uncertain thanks to a now defunct deal with FTX that could have soothed the crypto lender’s liquidity woes after filing for bankruptcy itself in October.
After a week that saw FTX admitting to a liquidity crunch on Monday and filing for Chapter 11 bankruptcy protection by Friday, the unfolding catastrophe has sent a tsunami barreling through the crypto market, triggering the collapse of more than 100 affiliated companies, lending platforms and exchanges once seen as unshakeable infrastructure providers to the industry.
A lot more at https://www.bannedsite.com/forum/current...d-everyone
Crypto insiders paint a picture of a charismatic tech founder who became the darling of high-powered investors, even as he was brazen about his cryptocurrency exchange’s shaky business model and kept the books closed to all but a few confidants.
Well before the catastrophic collapse of his FTX cryptocurrency exchange, Sam Bankman-Fried told everyone what he was doing. He told them about his appetite for risk. He told them some crypto exchanges were “secretly insolvent.” Last year, when declaring his net worth to be an estimated $10 billion, he said it was in “mostly illiquid” assets. Even when Bloomberg's Matt Levine suggested he was in the "Ponzi business" during an interview in April, Bankman-Fried didn't disagree. "I think that's a pretty reasonable response," he said.
That he was headed for calamity was inevitable. But with the ecosystem of hype and awe built around him, few heard what he was really saying. Employees, customers, and investors alike all saw the dollar signs being minted from his crypto market makers, including FTX, leaving few reasons to believe what Bankman-Fried had been saying all along. Prominent FTX backer Sequoia Capital was also caught in the gravitational pull, publishing a now-deleted 14,000 word paean to Bankman-Fried that likened him to fictional protagonist Jay Gatsby. (“Is crypto the new jazz?” the author wondered, apparently not considering that the titular Gatsby earned his fortune through crime.) This week, Sequoia wrote down its $213 million FTX investment to $0.
“Sam Bankman-Fried was the devil in nerd’s clothes,” said a BlockFi director whose future is now uncertain thanks to a now defunct deal with FTX that could have soothed the crypto lender’s liquidity woes after filing for bankruptcy itself in October.
After a week that saw FTX admitting to a liquidity crunch on Monday and filing for Chapter 11 bankruptcy protection by Friday, the unfolding catastrophe has sent a tsunami barreling through the crypto market, triggering the collapse of more than 100 affiliated companies, lending platforms and exchanges once seen as unshakeable infrastructure providers to the industry.
A lot more at https://www.bannedsite.com/forum/current...d-everyone
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