Tag: FTX

A recent BNN/Bloomberg report said how crypto industry whistleblowers could make millions from the collapse of FTX.
"No matter what political reasons are given for the war, the underlying reason is always economic." -A. J. P. Taylor
Sam Bankman-Fried's parents bought Bahamas vacation home with $121 million in FTX money. Professors of law Joseph Bankman and Barbara Fried from Stanford University were identified as signatories on a property in Old Fort Bay that was allegedly utilized as a vacation home.
Sam Bankman-Fried, the founder of FTX, which was, until last week, the world’s second-largest cryptocurrency exchange, is today facing prison time for allegedly defrauding his customers of billions of dollars. Bankman-Fried, 30, donated to many progressive causes allied with the “effective altruism movement,” including pandemic prevention and response.
Looking back, it’s utterly bizarre how the world of science could have gone so silent even as the world locked down and lives were shattered by the billions by governments the world over. The silence was deafening. We went from a March 2, 2020, letter signed by 800 public health experts associated with Yale University—which warned against quarantines and closures—to a strange disappearance of nearly all clear voices a few weeks later. And so things stood for the better part of two years.
FTX’s bankruptcy filing in the federal bankruptcy court on Thursday revealed many crazy things, like that most of FTX’s digital assets have not been secured.
The collapse of Sam Bankman-Fried and his fraudulent cryptocurrency empire at FTX is news at its most entertaining. Who doesn’t love the story of a bigshot billionaire revealed to be an outright fraud? It’s black-and-white. FTX owes billions in debt and doesn’t actually own a dime of the assets it claimed. Game over.
Breaking news throughout the first half of November has been dominated by coverage of the sudden collapse of FTX, one of the world’s biggest cryptocurrency exchanges.
Aseries of revealing texts and tweets by Sam Bankman-Fried, the disgraced CEO of FTX, the once high-flying but now belly-up crypto exchange, had the following to say about his image as a do-gooder: it is a “dumb game we woke westerners play where we say all the right shibboleths and so everyone likes us.”