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Alameda Coin on FTX.
How FTX lent customer deposits to sister firm Alameda Research. $10 Billion. SPF’s FTT token showing up on Alameda’s balance sheet and it was a lot, a large portion. Click this text to linked article
How likely is SBF going to face prosecution. Well if he is protected by the financial elite then all he really has to do is sit it out, like he is right now and play video games so he won't go nuts about the negative media that is currently circulating on him right now. Not that he would care. Seems like he is ok with misusing client funds.
FTX over reach around, War Trading against own customers. How? When anyone got out of trades early and in big volumes FTX was trading against them. Alameda had an infinite stop loss. The FTT token is counterfeit as they just add 200,000 into thier computer programme when the price drops to meet demand. FTX was also adding 0's and 1's. Futures contract by itself is a counterfeit coin. Real liquid asserts come out of the exchange when profits where taken so when people withdrew they added more to avoid insolvency. Created a hole of Billions that FTX tried to fix by shorting the big players. They went after Terra Luna, Voyager, targeted them. So FTX's game plan was to get too big to fail by acquiring the other big companies, buying them out after making them fall. Was going to buy Celsius and circle from Goldman Sachs. If that happened they would become too big to fail and SBF would win. It would be in the Trillions and would become the funder of the democratic party. Their was a Shot clock for voyager purchase, entire market on FTX was fake, which is hard to trace back now as FTX deleted a lot of evidence.
Loaning out his FTT token that is really worth as much as worthless plastic, he sells as if it where gold which is fraud. Tricking people into thinking it is an item of scarcity when it is not. Pinching your wallet out your pocket when your not looking. Moral value issues. Would you want it to happen to him? The answer to that is no he would not. But he does it anyway. Never good to take what is not yours. To take what someone else gathers by themselves. Or earned through an ordeal of thier own as an reward. You take thier reward. Is like being spat at in the face. Total disregard for honourable deeds. Theft I thought was not a legal thing to do. Should he receive a adequate and fair punishment for such crime?
We also have a lot of unclear indecisiveness on providing solutions. It is unclear whether a solution will be found as found with Justin Sun of Tron network and his . To be honest their is no solution to a failed exchange other than being unfairly brought out by elitest saving FTX from insolvency and bankruptcy. Removing that situation for them, seem not likely as the damage in the public eye has already seeped in. People will not be trusting this exchange anymore after this ordeal. As their is more people supporting platforms that are not subject to potential government institutional bail outs.
The Reason I said Crypto to 10K in September 2022 was that I knew thier was corruption at the top. FTX and Sam Bankman-Fried and his $1 Billion hole from trading user funds without them knowing, irresponsible. Just like the big banks do legally with what is not considered your money even though you deposited that money into a bank account created for you in your name, no kidding. I knew this debacle was likely to affect the price of crypto and bitcoin. So that is why I said Bitcoin to 10K, due to probability. What I did not say is how soon this will happen. Just shouted out the speculative number that Bitcoins price will fall below before we even start to see any upside in this bear market. I'm sticking to this August/September 2022 prediction which is when I first said this publicly.
Bitcoin Price dropped below $17,000 and stayed thier. What does this say about Bitcoin? That it was affected by the exposure of FTX and what Sam Bankman Frei was doing backhandedly with his FTT coin. Where where the regulators and the FCC, just watching it happen without preventing fraud, they where in on this corrupt plan?
Gary Gensler most failed regulator ever.
Dan Frieburg FTX has done it before. Criminal engagement. Tell’s hackers to scrub his online activity. Dan Frieburg connected to Mt. Gox
You would look at FTX and say yeah it doesn’t make sense to invest in tokens that get spun out of nowhere, that spread out amongst wide, opaic offshore exchange with nearly infinite leverage.
As mentioned in previous article. CZ new what was going on with FTX. Backdoor built into FTX. Alameda can go and do what they want with the funds. Creating a speculative $ 8 Billion dollar hole. 8 Bill hole on FTX and shorted Terra Luna. Borrowed and not able to put back the funds.
CZ of BINANCE never brought FTX due to lack of transparency. I dunno about Binance.
These are truly some turbulent crypto times where in.
Peace, love and Joy.
