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FTX Crash

11/11/2022

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The trouble with leverage & why you're better off without it.by The Staple Crew
The Staple Crew

Why I Will Never Trust or Invest in Crypto Ever Again!
by RothStreet Finance

Evidence FTX Was a Deep State Plan to Capture Crypto by Mark Moss

NOTES:

SHOCKING FTX Brothel Cost Investors Billions | TGOC
by The Gentleman of Crypto

MOT
Members of Tribe

MIT:

Glenn Ellison, Dept. Head of Economics
Gary Gensler, SEC Head and former Prof. of Economics

Families Connections:

Caroline Ellison, CEO of Alameda, daughter of Glenn
Sam Bankman-Fried, CEO of FTX, son of Joseph Bankman and Barbara Fried
Joseph Bankman, Federal Tax law creator
Barbara Fried, Head of “Mind The Gap” - biggest Democrat PAC
Linda Fried, Sam’s aunt and member of World Economic Forum

Follow the Money:

Sam raises a total of $1.7B for FTX
2nd Biggest donor to Biden 2020 campaign
Investors include Blackrock, Sequioa, SoftBank and Tiger Global
FTX covers Alameda losses with $10B of users funds

Regulations:

Gary Gensler wants regulations
SBF testifies in front of Congress discussing regulations, trashing #Bitcoin in the process
Two days after collapse, Digital Commodities Consumer Protection Act 2022 (DCCPA) bill is up for a not

Agenda ???

Sam Bankman-Fried was a patsy used by VC funds to launder money through FTX for political influence and a stadium in Miami
FTX collapse gives excuse for GG to push regulations on entire market
Sets stage for “trustworthy” CBDCs

Sam Bankman-Fried
a/k/a "SBF"

Bankman-Fried born 1992 on campus of Stanford University, family of academics
Jewish California family
2022 Son of Barbara Fried and Joseph Bankman - professors, both at Stanford Law School
2022 Aunt, Linda P. Fried, current dean Columbia University Mailman School of Public Health
Attended Canada/USA Mathcamp, summer program for mathematically talented high school students
Attended high school at Crystal Springs Uplands School, Hillsborough
2013 (summer), began working at Jane Street Capital, proprietary trading firm, trading international ETFs. Initially an intern, he returned full-time after graduating
2017/September, quit Jane Street, moved to Berkeley, worked briefly at Centre for Effective Altruism, director of development (October to November 2017).
2017/November, founded Alameda Research, quantitative trading firm
2021, owned approximately 90% Alameda Research
2018/January, organized arbitrage trade, moving up to $25M per day, to take advantage of higher price of bitcoin in Japan compared to in America
2018/Late attended cryptocurrency conference in Macau, moved to Hong Kong
2019 Founded FTX, cryptocurrency derivatives exchange
2019/May Sam Bankman-Fried and Gary Wang founded FTX
2019/April, FTX Exchange launched the following month
2021/December 8, along with other industry executives, testified before the Committee on Financial Services in relation to regulating cryptocurrency industry
2022/May 12, was revealed that Emergent Fidelity Technologies Ltd., which is majority owned by Bankman-Fried, had bought 7.6% of Robinhood Markets Inc. stock
Owns majority Emergent Fidelity Technologies Ltd.
2022/September, revealed that Bankman-Fried offered Elon Musk billions of dollars to fund Elon Musk's purchase of Twitter
2022/April 25, investment banker Michael Grimes wrote that Bankman-Fried would be willing to commit up to $5 billion to fund Elon Musk's purchase of Twitter
Michael Grimes, investment banker
2022/November, Binance CEO Changpeng Zhao revealed on Twitter that his firm intended to sell its holdings of FTT, FTX's token. (Binance received FTT as part of a sale of its equity in FTX in 2021.)
2021 Binance received FTT as part of a sale of its equity in FTX
Zhao published his tweet soon after a report from CoinDesk indicating that the bulk of the holdings of Alameda, Bankman-Fried's hedge fund, were in FTT.
Zhao published his tweet soon after a report from CoinDesk indicating that the bulk of the holdings of
Zhao published the bulk of the holdings of Alameda, Bankman-Fried's hedge fund, were in FTT.
2022/November 8, Zhao announced Binance had entered into a non-binding agreement to purchase FTX due to a liquidity crisis at FTX

Changpeng Zhao
a/k/a "CZ"
Real name "Zhao Changpeng"

Chinese-Canadian business executive
Co-founder and CEO of Binance
born in Jiangsu, China
Moved to Canada at a young age with his family
currently based in Singapore
Bloomberg Billionaires Index, Zhao was ranked 30th richest in the world with a net worth estimated at $33 billion as of October 2022

Alameda Research

"Market Maker" Set the Crypto Price

Caroline Ellison (CEO)

2017/September Sam Bankman-Fried Founded Alameda Research a quantitative trading firm
Alameda Research is a firm specializing in cryptocurrencies
strategies include arbitrage, market making, yield farming, and trading volatility.[1]
2017/November, Sam Bankman-Fried founded Alameda Research as a quantitative trading firm, after he left his job at Jane Street Capital
2018/January, Bankman-Fried organized an arbitrage trade, moving up to $25M per day, taking advantage of higher price bitcoin in Japan compared to the price in America.
2018/late, headquarters firm was moved to Hong Kong
2021/August, Bankman-Fried owned approximately 90% of Alameda Research
2022/November 8, following a liquidity crisis at FTX—a large cryptocurrency exchange deeply linked to the trading firm--Binance ...FTX signed a letter of intent for FTX to be acquired by Binance
2022/November 8, The value of Alameda was affected, and was estimated to have dropped over 90 percent following the public disclosure of problems and the FTX acquisition deal.
Alameda held large quantities of FTT, native token of the FTX exchange, as assets on its books. TechCrunch reported that "the exchange FTX was unusually intertwined with its sister entity, Alameda Research.
2022/November 8, Principal shareholder Bankman-Fried had an estimated net worth of $10.5 billion in October 2022 which dropped to approximately $1 billion according to the Bloomberg Billionaires Index following the crises and preliminary acquisition agreement.
2022/November 9 late in the day, Wall Street Journal reported that Binance was walking away from the FTX acquisition. Binance cited FTX's mishandling of customer funds and pending investigations of FTX as the reasons the firm would not pursue the deal.
2022/November 9, Alameda's website was taken down. The next day Fried stated that Alameda Research was winding down trading and would close.

FTX

"Buys and Sells Cryptocurrencies Coins and Tokens"

2019 founded
2019/May Sam Bankman-Fried and Gary Wang founded FTX.
and FTX.US, a separate exchange available to US residents
Bahamian cryptocurrency exchange
incorporated in Antigua and Barbuda
headquartered in The Bahamas
2022/November, CoinDesk article stated the related firm Alameda Research had significant portions of its assets in FTX's native token FTT
Following this revelation, rival exchange Binance's CEO Changpeng Zhao announced that Binance would sell its holdings of FTT.
This led to a collapse in the price of FTT and a run on FTX
Amid the ensuing liquidity crisis at FTX, Binance announced its intentionto acquire the firm, though the potential acquisition collapsed the next day. FTX filed for Chapter 11 bankruptcy protection on 11 November 2022.
Changpeng Zhao of Binance purchased a 20% stake in FTX half a year after Bankman-Fried and Wang started the firm.

2020/August, FTX acquired Blockfolio, a cryptocurrency portfolio tracking app, for $150 million.
2021/July, FTX raised $900 million at an $18 billion valuation from over 60 investors, including Softbank, Sequoia Capital, and other firms. Binance, a competitor which invested in the company in 2020, divested its shares in 2021.

Bankman-Fried traded international ETFs at Jane Street Capital, a proprietary trading firm Before founding FTX,
Bankman-Fried founded Alameda Research, a quantitative trading firm

Source of information click here ...and... click here

Caroline Ellison (CEO)

Caroline Ellison (CEO)

Gary Wang

Gary Wang Founder of FTX

The Con Behind The Crypto Blood Bath
Dirty Secrets Revealedby Mark Moss

NOTES from Mark Moss's Presentation

2.2.2022 FTX's Sam Bankman-Fried explains how he built a $32 billion crypto exchange in 3 years after growing annoyed with 'crappy' platforms – making him a multibillionaire at 29

Link to article

1.31.2022 FTX has just completed another funding round that values it at a whopping $32 billion — and CEO Sam Bankman-Fried says he expects no ‘long-term crypto winter’

Article Link

End of Year 2021
This chart does a pretty good job of summarizing how 2021 went for FTX.

Link to Blog

Senate Agriculture, Nutrition and Forestry Committee examines digital assets — 2/9/2022

6.22.2022 Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager

PUBLISHED WED, JUN 22 202212:32 PM EDTUPDATED FRI, JUN 24 20225:02 AM EDT

Link to Article

Watch video above click here

BlockFi, a quasi-bank

Voyager Digital, a digital asset brokerage

Three Arrows Capital
a/k/a 3AC

Watch video above click here

Warren Buffet
Chairman and CEO of Berkshire Hathaway

Berkshire Hathaway

Warren Buffett
Berkshire Hathaway
CRYPTO

Rockefeller Oil

Standard Oil's breakup split the company into 34 separate companies.

Berkshire Hathaway
(which later acquired Union Tank Car).

LISTEN UP
Cryptocurrencies are the Future

Rockefeller Chairman Thinks Bitcoin is Just a Matter of Time | Rumors of Middle Eastern Adoption
by Bitcoin

Andrew Carnegie

4.28.2022 Sam Bankman-Fried reveals how DeFi works like Ponzi scheme

Link to article click here

LISTEN CLOSELY
AND
FOLLOW ALONG

Sam Bankman-Fried
"The Tale of Two Companies"

Alameda Research
Founded by Sam Bankman-Fried
NOT a Research Company they set the price of cryptos...
"The Market Maker"
Set the Price of the Token/Coin
...
Instead of allowing the market to set the price Alameda sets the price.

FTX Exchange
"CEO" Chief Executive Officer of
FTX Exchange
and
Created FTT, FTX's token
through Alameda Research
-
The Exchange Buys and Sells the Token/Coins where you may be thinking the market is setting the Token/Coin price when Alameda is setting the price!

Mark Moss explains in an example:

Mark Moss's contact reached out to SBF regarding what types of projects does he think need to be built on the Solana EcoSystem "Blockchain"
SBF made some recommendations
Developers were contact on Upwork - Freelance Developers
Upwork developers built out the protocol
Ask SBF if he would listed on his FTX Exchange so people can buy it
SBF stated if Alameda will "Make the Market" for it then we will
SBF set up a meeting with Alameda to Pitch the project
The pitch goes out to Alameda we are going to build this protocol to go on the Solana Blockchain
We are going to create a 100 million tokens and if you "Make the Market" they will listed on the FTX Exchange to sell it
Alameda says here's the deal. We list 100 million tokens and you give us 30 million tokens and in exchange for the token we will give you 12 millions dollars
Alameda takes them at a 3 cent evaluation
Will flip them to our venture capitalists at 6 cents and 9 cents
It will go on FTX for 50 cents
The person cashed out money in the bank on the sidelines
Almeda flipped 70 million tokens and kept 30 million tokens
Almeda "Made the Market" from the project pitched to them
The price of the asset times the supply equals the market cap

Was this how the FTT Token was created for the FTX Exchange ???

FTT is a token created out of thin air?
NO VALUE.!!!

Do You Own XGOLD ???
What is XGOLD back with to give it value?

What Tokens/Coins "Cryptocurrency Projects" do you hold and what is backing them to give them value?

11.2.2022 Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet

Alameda had $14.6 billion of assets as of June 30, according to a private document CoinDesk reviewed. Much of it is the FTT token issued by FTX, another Bankman-Fried company.

Leaked Documents

Watch video click here

No separations in SBF Companies !!

FTX created "FTT Token" cryptocurrency backed by nothing, created out of thin air?...

Alameda gave it a price and "Made the Market" of the FTT Token for the FTX Exchange

Alameda owns most of the FTT Token, 14 Billion sitting on their balance sheet

32 Billion Dollar empire SBF created out of thin air and manipulated the market

The FTT Token Alameda had on their books was more than the entire market cap of FTT

BOTH Companies OWNED by SBF

CZ owner of the Binance Exchange to acquire the FTX Exchange saw the manipulation and liquidated his FTT holdings which spurred the market to liquidate their holdings.

CZ made a public announcement he was selling his FTT which caused massive sell off the FTT Token

NO OTC - Over The Counter Trade to keep the market from over reacting.

The FTT Token was going down in price. The FTX exchange couldn't purchase enough of the FTT Token to keep the price up.

The FTX Exchange created the FTT Token out of thin air, NOT back by anything where they leveraged it and took out loans against it in US dollars, Stable coin, etc. As the value of the FTT Token goes down the FTX Exchange was getting margin calls to cover the loans they took against the FTT Token. The FTX Exchange needed to post more collateral.

Alameda offered to buy CZ FTT Tokens at $22 a share as the market was leveling off at $22 a share.

Alameda told the world where their margin call was. "$22"

FTT Perpetual Futures - 20 Million Short Contracts started piling up. As the Short Contracts started piling up the FTT Token price started coming down.

Everyone is selling their holdings of the FTT Token, even the Short Sellers are selling it.

Thoughts:

Did CZ make a public Twitter Tweet because as he was selling his FTT Token shares he was also shorting the FTT Token?

Everyone is selling and shorting their FTT Tokens. For it to be defended FTT "FTX Exchange" is going to have to buy it all up. How are they going to do that? The FTT Token "The FTX Exchange" will do that ...by draining their reserves.

Does the FTX Exchange have enough money? The FTX Exchange doesn't have the money because all the assets they had on their books was the FTT Token they created out of thin air and backed by NOTHING! The value of the token is dropping so fast meaning whatever they had on their books is now dropping on top of it they have to meet their margin calls. The FTX Exchange is stuck trying to prop up the FTT Token. They are trying to buy the FTT Token, what everyone is selling because they had leveraged up on the FTT Tokens. The FTX Exchange contending with Bank Runs, essentially. Meaning whoever had money on the FTX Exchange they are pulling their cryptocurrencies off the FTX Exchange along with dumping their FTT Tokens. The FTX Exchange selling any assets they had on the books "DUMPING" to purchase the FTT Tokens.

Mr. Whale whalechart.org @WhaleChart https://twitter.com/WhaleChart

List of 134 companies under FTX’s Bankruptcy filing by Gizmo Times
(Link to article click here)

Crypto exchange FTX has filed for bankruptcy under Chapter 11, and it is not only FTX but a total of 134 companies that worked as affiliated companies with FTX, including the Alameda group. The Founder Sam Bankman-Fried has also resigned as the CEO of the company in a sudden state of affairs after the recent fiasco between Binance and FTX.

In the filing was the entire list of companies that are filing for bankruptcy. If Chapter 11 is submitted, it means the company can run and operate while trying to repay to its customers. Here are the companies that have filed for bankruptcy.

1. Alameda Aus Pty Ltd
2. Alameda Global Services Ltd.
3. Alameda Research (Bahamas) Ltd
4. Alameda Research Holdings Inc.
5. Alameda Research KK
6. Alameda Research LLC
7. Alameda Research Ltd
8. Alameda Research Pte Ltd
9. Alameda Research Yankari Ltd
10. Alameda TR Ltd
11. Alameda TR Systems S. de R. L.
12. Allston Way Ltd
13. Altalix Ltd
14. Analisya Pte Ltd
15. Atlantis Technology Ltd.
21. Bancroft Way Ltd
28. Bitvo, Inc.
29. Blockfolio Holdings, Inc.
30. Blockfolio, Inc.
31. Blue Ridge Ltd
37. BTLS Limited Tanzania
38. Cardinal Ventures Ltd
39. Cedar Bay Ltd
40. Cedar Grove Technology Services, Ltd
41. Clifton Bay Investments LLC
42. Clifton Bay Investments Ltd
43. CM-Equity AG
44. Corner Stone Staffing
45. Cottonwood Grove Ltd
46. Cottonwood Technologies Ltd.
47. Crypto Bahamas LLC
48. DAAG Trading, DMCC
49. Deck Technologies Holdings LLC
50. Deck Technologies Inc.
51. Deep Creek Ltd
52. Digital Custody Inc.
53. Euclid Way Ltd
60. FTX (Gibraltar) Ltd
61. FTX Canada Inc
62. FTX Certificates GmbH
63. FTX Crypto Services Ltd.
64. FTX Digital Assets LLC
65. FTX Digital Holdings (Singapore) Pte Ltd
66. FTX EMEA Ltd.
67. FTX Equity Record Holdings Ltd
68. FTX Europe AG
69. FTX Exchange FZE
70. FTX Hong Kong Ltd
71. FTX Japan Holdings K.K.
72. FTX Japan K.K.
73. FTX Japan Services KK
74. FTX Lend Inc.
75. FTX Marketplace, Inc.
76. FTX Products (Singapore) Pte Ltd
77. FTX Property Holdings Ltd
78. FTX Services Solutions Ltd.
79. FTX Structured Products AG
80. FTX Switzerland GmbH
81. FTX Trading GmbH
82. FTX Trading Ltd
83. FTX TURKEY TEKNOLOJİ VE TİCARET ANONİM ŞİRKET
84. FTX US Derivatives LLC
85. FTX US Services, Inc.
86. FTX US Trading, Inc
87. FTX Vault Trust Company
88. FTX Ventures Ltd
89. FTX Ventures Partnership
90. FTX Zuma Ltd
91. GG Trading Terminal Ltd
92. Global Compass Dynamics Ltd.
93. Good Luck Games, LLC
94. Goodman Investments Ltd.
95. Hannam Group Inc
96. Hawaii Digital Assets Inc.
97. Hilltop Technology Services LLC
98. Hive Empire Trading Pty Ltd
99. Innovatia Ltd
100. Island Bay Ventures Inc
101. K-DNA Financial Services Ltd
102. Killarney Lake Investments Ltd
103. Ledger Holdings Inc.
104. LedgerPrime Bitcoin Yield Enhancement Fund, LLC
105. LedgerPrime Bitcoin Yield Enhancement Master Fund LP
106. LedgerPrime Digital Asset Opportunities Fund, LLC
107. LedgerPrime Digital Asset Opportunities Master Fund LP
108. Ledger Prime LLC
109. LedgerPrime Ventures, LP
110. Liquid Financial USA Inc.
111. LiquidEX LLC
112. Liquid Securities Singapore Pte Ltd
113. LT Baskets Ltd.
114. Maclaurin Investments Ltd.
115. Mangrove Cay Ltd
116. North Dimension Inc
117. North Dimension Ltd
118. North Wireless Dimension Inc
119. Paper Bird Inc
120. Pioneer Street Inc.
121. Quoine India Pte Ltd
122. Quoine Pte Ltd
123. Quoine Vietnam Co. Ltd
124. SNG INVESTMENTS YATIRIM VE DANIŞMANLIK ANONİM ŞİRKETİ
125. Strategy Ark Collective Ltd.
126. Technology Services Bahamas Limited
127. Tigetwit Ltd
129. Verdant Canyon Capital LLC
130. West Innovative Barista Ltd.
131. West Realm Shires Financial Services Inc.
132. West Realm Shires Services Inc.
133. Western Concord Enterprises Ltd.
134. Zubr Exchange Ltd

Gensler when he was @CFTC Chair. @SBF_FTX's mom was Hilary's lawyer and a Democratic operative. SBF was @2 Democratic donor.

Link to Video click here

CZ First Interview After the Collapse of FTX at Indonesia Fintech Summit 2022 by William Sutanto https://youtu.be/xKRvgj0G7Nk

“The FTX Bankruptcy Was Just The Beginning...” Crypto Hodlers Last WARNING by Altcoin Daily https://youtu.be/0yvi7I395eo

ALERT! America is Dying from Internal Deeep St*te Financial Corruption! It's Un-American! (Bix Weir) by RoadToRoota https://youtu.be/cKq9dJz6UP8

The Con Behind The Crypto Blood Bath – Dirty Secrets Revealed by Mark Moss The Con Behind The Crypto Blood Bath – Dirty Secrets Revealed

jeanclaude beyondmystic?LIVESTREAM: WACKY WOO WITH JSNIP4 & Jean-Claude@BeyondMystic by JeanClaude Beyound Mystic003 https://youtu.be/raVpEDu3Pl0

Sam Bankman-Fried reveals how DeFi works like Ponzi scheme by CoinGeek https://coingeek.com/sam-bankman-fried-reveals-how-defi-works-like-ponzi-scheme/

REALIST NEWS - WOW Did the Democrats start FTX to launder funds to the Democratic Party? Opinion by Jsnip4 (2) https://youtu.be/dx3SQX64XFQ

Withdrawals Frozen & Bank Runs Begin! The Crypto Industry Has Collapsed by Michael Cowan https://youtu.be/a-Sf5CbNCVI

ALERT! Silver Ready to Moonshot as SEC's Gary Gensler Finishes Off Crypto Defi Buyers!! (Bix Weir) by RoadToRoota https://youtu.be/omZMoffSBnc

Digital fiat currency https://patents.google.com/patent/US20200151682A1/en

This creepy video of Sam, the founder of the corrupt Crypto company FTX, has resurfaced by RedpillUSAPatriots https://rumble.com/v1tz8a6-this-creepy-video-of-sam-the-founder-of-the-corrupt-crypto-company-ftx-has-.html

DO NOT DELETE YOUR FTX APP The fail safe last night FTX/Alameda used was to delete evidence. Your FTX app contains evidence SBF & Goons want deleted. by Ben Armstrong @Bitboy_Crypto https://twitter.com/Bitboy_Crypto/status/1591620079242080257

The impossible just happened in Crypto! The Crypto market makes history AGAIN in a horrible way https://medium.com/@ignacio.de.gregorio.noblejas/binance-ftx-war-ends-in-collapse-1488a806fff5

SHOCKING FTX Brothel Cost Investors Billions | TGOC by The Gentlemen of Crypto https://youtu.be/ySMAOwDWXTw

Bankman-Fried’s Cabal of Roommates in the Bahamas Ran His Crypto Empire – and Dated. Other Employees Have Lots of Questions by CoinDesk https://www.coindesk.com/business/2022/11/10/bankman-frieds-cabal-of-roommates-in-the-bahamas-ran-his-crypto-empire-and-dated-other-employees-have-lots-of-questions/

ASSET CHART............. Sam Bankman-Fried's Investments https://www.reddit.com/r/defi/comments/yseooj/sam_bankman_frieds_investments/

ASSET CHART............. ‘10 cents on the dollar’: What happens if Sam Bankman-Fried’s empire is forced into a fire sale of its investments Fortune Crypto https://fortune.com/crypto/2022/11/10/sam-bankman-fried-empire-forced-fire-sale/

BREAKING EXCLUSIVE: Tens of Billions of US Dollars Were Transferred to Ukraine and then Using FTX Crypto Currency the Funds Were Laundered Back to Democrats in US by Gateway Pundit https://www.thegatewaypundit.com/2022/11/breaking-exclusive-tens-billions-transferred-ukraine-using-ftx-crypto-currency-laundered-back-democrats-us/

Probe underway after funds vanish from bankrupt crypto exchange FTX by PBS News Hour https://www.pbs.org/newshour/economy/probe-underway-after-funds-vanish-from-bankrupt-crypto-exchange-ftx

Was FTX hacked? Deep dive reveals “backdoor” built into accounting software by Cryptoslate https://cryptoslate.com/was-ftx-hacked-deep-dive-reveals-backdoor-built-into-accounting-software/

BREAKING EXCLUSIVE: Tens of Billions of US Dollars Were Transferred to Ukraine and then Using FTX Crypto Currency the Funds Were Laundered Back to Democrats in US https://www.thegatewaypundit.com/2022/11/breaking-exclusive-tens-billions-transferred-ukraine-using-ftx-crypto-currency-laundered-back-democrats-us/

FTX founders Bankman-Fried and Wang reportedly detained by Protos https://protos.com/ftx-founders-bankman-fried-and-wang-reportedly-detained/

SEARCH............. tens of billions of US dollars were transferred to ukraine and then using FTX crypto currency the funds were laundered back to democrats in US