The more you dig into the FTX story, the more dirt you unearth from the debacle. The story has taken me down a rabbit hole filled with well-researched antics that highlight how much of a fraud the entire operation was.
In yet another twist to the tale, Arkham intelligence discovered that an astonishing $204m worth of a variety of crypto assets were pulled out right before filing for bankruptcy. The research showed that specifically, the Alameda firm, managed by Caroline, was responsible for this act.
The discovery by Arkham intelligence showed that the aforementioned sum was pulled out moments before FTX US filed for bankruptcy. This points to some level of intentionality about the whole situation.
At least 57% of the $204m pulled out was in a variety of stable coins, while the rest of the funds were in Ethereum, and Wrapped Bitcoin. Interestingly, the now useless FTT token that speculators pumped to ridiculous highs wasn't even part of the assets.
The fact that all of this happened before they filed for bankruptcy further highlights how much of a con this whole situation is. SBF, Caroline and all the parties involved pulled a fast one on the public, it is that simple.
Just lies and more lies
It is already beyond doubt that SBF is a lying cunt of a fraud but it has to be said that the quality of lies has to be questioned. This whole braindead run around he's giving the media has to be studied because it is either the legacy media are utterly incompetent at their jobs or they do rehearsals to ensure that they propagate a braindead narrative.
It probably took Arkham intelligence ten minutes to figure out that FTX was pulling out funds from their coffers before filing for bankruptcy. Yet, we've seen SBF in an interview openly declaring that as far as he knows, FTX US should be "solvent".
As recently as December 1st, SBF claimed to be "surprised" that FTX US was somehow insolvent. In fact, to add insult to injury, he was on air assuring FTX US customers that their funds were "safu" and they'd be able to withdraw soon.
How do you then compare this statement to the fact that Alameda which is still technically controlled by the same SBF pulled out all these funds only days before FTX US filed for bankruptcy?
Anybody with half a brain cell can see through the whole mess and if you're still giving credence to this scammer then you're either in on it or just working for the establishment to bring disrepute to the crypto industry.
Everything that comes out of SBF's mouth is a lie and you have to be really stupid to believe him. Again, I say, this man shouldn't be "granting" interviews, this man and everyone affiliated with him should be in prison serving hard time for the crime he committed.
Not a crypto thing
For what it's worth to any normie out there following these events, it must be said that this issue is not a crypto issue. Cryptocurrencies are safe and still offer innovations that will stand the test of time.
This is a matter of integrity, and that is something that was lacking in this FTX debacle. As far as I can tell, FTX ventures were just an elaborate scam created by SBF to enable him to abscond with hundreds of millions of dollars.
I hate to say it but it looks like he is going to get away with his crime and he'll live out the rest of his days in some obscure country, flexing the millions of dollars he ripped off customers. He'll continue doing interviews with the pleb-infested legacy media, giving them puppy dog eyes in front of the camera and fat cheques behind the scene.
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Of course, it is a fraud! Just 2-3 months ago, the guy was pretending he is a King of Crypto, knowing everything the best, "saving" other companies, and having an EGO on top of the mountain... And today, he is pretending to be a small child that doesn't know anything... Some naive people will fall to that story, but those who were robbed by SBF will not...
Also, what mainstream media is doing is the bottom of the bottom... They don't care about the people who lost money, they just trying to use this event to spit on crypto and blame crypto for everything... and not the "poor rich egoistic guy"...
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Your summary is perfect and I couldn' have said it better myself. I feel bad for anybody that actually believes the lies
I've read some news reports in which it seems that with FTX funds the political campaign was also financed--who knows if that's true.
Yup. They dipped their hands into politics for the immunity
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SBF is really not that smart, he is just a pawn for the democrats and his rich parents. I don't know why people are giving so much credit. He took the money he got from people to invest in democratic party causes.
Dude also put a fat stack of money into Republic shit
I wouldn't call it fat...He also wanted anyone to win except Donald Trump so. But his money was for them leftist causes which are very pro-democrat
His cause was to scam and get away with it.
He is getting away with is because MSM is covering him up and the judges in the High court are democrats. If Trump's people were still on seat he would be in jail
If Trump's people were on seat, he would have bribed Trump's people and the story would be exactly the same
True. I think they are all greedy snakes sha.
This whole story is not good for the crypto market for mainstream adoption.
Yup.
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This comes the the famous "Miranda Rights" quoted in countless action movies and crime dramas. SBF should have heeded this advice.
As for the corporate media, how much money did SBF pay those outlets in exchange for sweet press coverage? They are just as contemptible as SBF.
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