4 ms·
I guess that explains a lot No explanation necessary. Anyone paying attention knew this was a scam. SBF used his well connected parents to start a scam company
by 300bps 4y ago
I guess that explains a lot
No explanation necessary. Anyone paying attention knew this was a scam. SBF used his well connected parents to start a scam company.
He created back doors in his accounting software to hide money flows.
He hired his girlfriend (Harry Potter fan in her 20s) to be CEO of Alameda trading and transferred $10 billion in client funds for her to trade like it was their own money.
Declared bankruptcy and resigned as CEO yesterday.
Late last night someone pushed out new versions of the FTX website and apps with malware in them and stole $600 million worth of cryptocurrency which may be all that’s left of assets.
Tom Brady was a big investor. Sequoia. Ontario Teacher’s Pension. So many more.
https://www.reuters.com/markets/currencies/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-2022-11-12/ https://www.reuters.com/markets/currencies/exclusive-least-1...
https://www.reuters.com/technology/ftx-says-it-is-investigating-unauthorized-transactions-2022-11-12/ https://www.reuters.com/technology/ftx-says-it-is-investigat...
https://www.efinancialcareers.com/news/2022/11/caroline-ellison-alameda-research-ftx-sam-bankman-fried https://www.efinancialcareers.com/news/2022/11/caroline-elli...
- enkid 4y agoWhy is being a Harry Potter fan a pertinent detail? Plenty of people still like things they picked up when they were kids.
- snapcaster 4y ago
- deleted 4y ago[deleted]
- 300bps 4y agoIf saying she’s a Harry Potter fan is a “micro-aggresssion” what do you call her stealing $95 million from public school teachers in Ontario? What a ridiculous thing to be offended by.
- lotsofpulp 4y agoWhat a ridiculous thing to bring up details of someone’s life that are irrelevant to the news event.
- ShamelessC 4y agoOne of those things is relevant to the article. The other is the sort of tone deaf shit that someone would say if they never read Harry Potter, thought they were perhaps “above” such lowly books, and just generally assumed that “childrens books are for children only”. Context matters and the context of that statement was “I’m going to discredit this individual”. That you think “liking Harry Potter” is worthy of being discredited is glaringly obvious. The mention of her age and gender is also just not relevant unless you personally think that is discrediting information, which, yeah pretty fucking sexist. I’m willing to guess you were raised in a fairly sheltered, wealthy environment? <—— This is a micro aggression.
- acdha 4y agoBased on sales figures, many millions of people like Harry Potter and statistically almost none of them have stolen pension funds. You’re getting heat because it’s not relevant and this isn’t a puff piece on the lives of the rich.
- rchaud 4y agoThe LoL reference (apt acronym in this case) was an enormous red flag for me. It was a loud and clear signal about the type of 'investor' that SBF was being marketed to.
- jgalt212 4y agoThis is interview with Alameda CEO (Caroline Ellisaon) is bonkers. I would not trust her with $10 of my money at the dog track, much less $10B of mis-used client funds. https://www.reddit.com/r/wallstreetbets/comments/ys4lmo/she_is_the_ceo_of_ftxalameda_let_that_sink_in/ https://www.reddit.com/r/wallstreetbets/comments/ys4lmo/she_...
- lordnacho 4y agoI thought this was one of those jokes people play on the internet. The two guys in casual clothes looking at her, a lack of acting ability, gibberish about investment... all points towards it being the beginning scene of a certain kind of movie. I didn't think it was genuinely an interview with the CEO of Alameda.
- acdha 4y agoWouldn’t the Alameda CEO’s experience as a Jane Street trader be more relevant than the fiction she likes? That doesn’t change the larger story of inexperienced people being given money far beyond their demonstrated ability to manage it, but not listing it makes your comment read as if you’re attacking her for some other reason than her professional choices — like describing Vitaly Buterin parenthetically as a former Workd of Warcraft player.
- baq 4y agoThe Harry Potter part is actually one of the few positives. The whole operation was a drug-laden clown show.
- tartoran 4y agoHearing drugs for the first time in this shitshow. Care to elaborate a bit on this?
- baq 4y agohttps://twitter.com/carolinecapital/status/1379036346300305408 https://twitter.com/carolinecapital/status/13790363463003054... https://twitter.com/0x_charlemagne/status/1591422246773751808 https://twitter.com/0x_charlemagne/status/159142224677375180...
- tartoran 4y agoThanks. That explains a lot.