Cover up legend in FTX

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Aug 6th, 2022
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How to cover up legend in FTX

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FTX accused of counterfeiting coins on their exchange to Market manipulate signed a deal with Alameda they were going to come on as partners with you guys havenamp;#39;t paid for the essence they actually learned the assets and utilized yes because they utilize your assets to make money and then before they have to give you your asset back they ensure that your Market crashes so they can give your asset backs on a much cheaper price we agreed to give them over 60 million dollars in illiquid assets all of a sudden we find new coins at one cent we contact liquid so guys whatamp;#39;s going on how is it possible that new coins at one cent you know itamp;#39;s been 35 and 38 cents message after message they tell us so itamp;#39;s not us itamp;#39;s the market maker we go to John John tells us oh yeah weamp;#39;re fixing it weamp;#39;re fixing it doesnamp;#39;t tell us heamp;#39;s the one bumping it everyoneamp;#39;s in a panic but sudden we partner off with Alameda research these

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NEW YORK, March 28 (Reuters) - Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkinds dramatic downfall. Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud reuters.com technology sam-bankman-fr reuters.com technology sam-bankman-fr
NEW YORK, March 28 (Reuters) - Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkinds dramatic downfall.
FTXs balance sheet was leaked and showed there was a lack of diversification and the two companies were tied too closely together. The balance sheet listed $9 billion in liabilities and $900 million in assets, with poorly labeled entries showing a negative $8 billion balance. FTX scam explained: Everything you need to know - TechTarget techtarget.com whatis feature FTX-sca techtarget.com whatis feature FTX-sca
FTX collapsed in early November 2022 after journalists reported an affiliated trading firm, Alameda Research, derived most of its value from speculative cryptocurrency s. The Collapse of FTX: What Went Wrong With the Crypto Exchange? investopedia.com what-went-wrong-with-f investopedia.com what-went-wrong-with-f
As for the losers, the biggest ones are everyday crypto users and honest entrepreneurs who just watched another massive scandal befall the industry, and who will pay the price for SBFs behavior.
But most of the big name promoters of FTX like athletes Tom Brady, Steph Curry, Shaquille ONeill, Naomi Osaka and Shohei Otani and supermodel Gisele Bundchen are fighting the lawsuit, as are over a dozen domestic and international venture capital firms.
At Bankman-Frieds sentencing hearing, Kaplan agreed. He said FTXs customers had lost some $8bn and that its investors had lost $1.7bn.

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