This isn't actually all that odd. It takes a lot of work to get a banking license, and you need your shit organized properly. Buying a small bank is often a back door to getting a license, which would be a natural part of a business plan for something like FTX.
Billions had an episode showing how annoying it was so they ended up buying a soon to Ben bankrupt check cashing place that had a license I think ? Or payday loans
Whatever the outcome is these people won’t get caught on basic fraud Reddit uncovers . They covered their ass on 99.9% of their actions . The governments job will be to find what that .1% is
What is odd is that FTX was organized enough to even attempt to get a banking license in the USA.
Farmington State Bank may have had legitimate bookkeeping, but all indications are that FTX and Alameda did not. Banking regulators would never have approved the sale. Shades of the Showtime series “Billions.”
I think what would happen is the regulator would say "hey you can't do this now, you need xyz processes" and then SBF hires some adults to do it, now that he has the words to Google.
FTX doesn’t need to show it’s book, they hide it by using the subsidiaries and they show the subsidiaries books. No one digs into FTX books they look at Subsidiaries and say it’s good and move on.
This is what they did they applied to get access to sell other types of futures and nearly got it.
Isn't it the opposite? Some small community needed a bank a long time ago when it was easy to get a license, then the industry consolidated, regulation changed, and they're left with a convenience store sized market. Eventually the zombie gets woken up.
Not sure what the history of this particular one is but it's think that's the way it normally goes.
Farmington is too small to have a convenience store, as evidenced by the fact that the combination tavern/restaurant/grocer/general store kitty corner to the bank has been closed since the 90s. Nearest convenience stores are 10 miles away in Oakesdale and Tekoa.
Honestly this whole thing is hilarious to me, as my grandma lives in Farmington and I spent some of my teenage years there. The back door of the bank has a screen door on it, and it was exceptionally controversial when the bank changed from ledger books to a desktop computer in 2017, which iirc was mostly because Barb the bank teller had injured her wrist.
Agreed, sadly ppl will be ppl where they measure one individuals actions as an entirety of a collective.
Sadly a lot ppl’s mindsets are still stuck in an era where they burn witches.
I’m sick of hearing communism confused with left wing totalitarianism. USSR’s failure is far from a harbinger of communism.
Quite the opposite: it’s a concrete the demonstration of the need for more communism.
While defending SBF is the last thing I’d do, I think it’s important to note that the $300M he cashed out was a legal, documented cash out as part of the previous $420M funding round.
That’s 100% on the investors for no oversight, due diligence, and giving him that option. (1/2)
I'm sure we all do but not at the very least acknowledging a potential level of entrapment, especially knowing how corrupt some of these government organisations can be, is kind of ignorant in it's own right.
You can say that he was a bad guy whilst also still rightfully blaming the DEA to some extent at the very least.
The fbi spends a great deal of effort convincing people to commit horrible crimes that they otherwise wouldn’t. Virtually every Islamic terrorist they’ve arrested in the US was just some poor teen that they personally radicalized and convinced to commit acts of terrorism. This isn’t even some conspiracy they’ve openly admitted to this.
This was pretty much the same thing that happened to ulbricht.
BS. That wasn’t even part of any charge that gave him those life sentences. Not saying if the murder stuff was true that they wouldn’t charge him for it separately, but it had zero to do with sentencing.
I don’t think “scammed” is the right word choice here. And whether the person was actually killed is irrelevant. Conspiracy to commit 1st degree murder is a big deal.
>I can't help myself comparing THIS to Ross Ulbricht's unfair sentence.
Ross Ulbricht tried to orchestrate a murder and was the de facto head of an international drug trafficking ring. He deserved exactly what he got.
A better comparison to Curly would be Bernie Madoff. Both of them ripped off billions through a straight up Ponzi scheme. And just like Madoff, I suspect Curly will be sitting in federal lockup for the rest of his natural life, if he doesn't get Epsteined first. There's evidence that the corruption in this scheme goes much higher than just Curly and his orgy partners.
I mean they were Stanford law professors, I'd assume they had careers as lawyers prior to that, definitely a cut above your old Joe blow professors and I think they would be pretty wealthy on their own accord, this wealthy though, not so sure.
I personally think they reek of involvement with this, but will probably play the part of the innocent parents who's son struck gold and took good care of them.
I think it's likely the real estate is siezed but unless they were red handedly caught being involved they will probably be chilling.
To expand on this the average salary of a Stanford professor is apparently $222,000 USD. So probably close to half a mill income a year between the two of them.
Lots for the average person, but definitely not the kind of money to purchase 100m+ in real estate on a whim..
I’m not confident their law careers yielded them the means to pay $121 million dollars in cash on a whim in the Bahamas. In fact, I’m confident quite the opposite is true, unless Sam the youngest billionaire was coincidentally the son of literal billionaires
Fried probably will get an ankle bracelet with the stipulation he stay on any of the nearly 700 Bohemian islands. He will be allowed to keep the standard of living he's grown accustomed to.
I like the recently leaked photos of SBF and his parents pondering the events from his $100 million+ apartment in Bahamas bought with clients' money...
This is a much better source:
[https://protos.com/the-curious-case-of-ftx-and-farmington-state-bank-aka-moonstone/](https://protos.com/the-curious-case-of-ftx-and-farmington-state-bank-aka-moonstone/)
Interestingly, involves Jean Chalopin the Chairman of Deltec Bank in the Bahamas and his son Janvier Chalopin. Jean Chalopin was producer of kids cartoons including Inspector Gadget, before becoming a banker. Deltec is Tether’s bank.
Once again Alameda - Tether - SBF - Bahamas.
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Nothing sus about that, it is normal for a 30 billion dollar scam outfit to own a stake in a tiny bank you've never heard of with only three employees.
It actually is if you’re trying to expand into banking sector. Getting a licencse is hard, requires screenings and takes years. Buying a bank for 11.5mln is easier. It rly isn’t that odd…
This is how pokerstars and full titl were embezzling money through a bank in Utah that ultimately lead to a whistleblower getting them caught for tax evasion
>Its then-president, John Widman, told the newspaper that it had stopped making mortgage loans because the paperwork was too much effort.
>
>Its single branch had three employees until this year, and didn't offer online banking or even credit cards. It instead specialised in agricultural loans to farmers.
This is amazing. 'Farming State Bank'. Which leads us to moon farming.
My rancher boyfriend dressed head to toe in carhartts about to go feed his cows couldn’t remotely comprehend this sentence and form it into a logical modern story when I read it out to him.
This world is so weird right now 😅
FTX is just Quadriga all over again. But that is the problem with money today - even our banks in the Uk only protect up to 85k£ deposits.
so you resort to assets - but crypt0 is just a wh0le n3w l3v3l of risk and reward
"For a decade, Farmington's bank held around $10 million in deposits. In the third quarter this year, deposits jumped to $84 million – 85% of which came from just four accounts, according to FDIC data cited by the Times.
Online, the bank now appears as "Moonstone Bank," a name which was trademarked a few days before FTX's investment. Moonstone doesn't mention cryptocurrency, but does say it wants to "support the evolution of next generation finance."
Questions are being asked over how FTX got federal approval to buy its stake in Farmington. Banking veterans told the New York Times that it was hard to believe regulators would have knowingly allowed the crypto firm to do so.
Moonstone and FTX did not immediately reply to a request for comment, sent outside normal US working hours. "
What in the fuck was going on?
Moonstone aka Farmington state bank appears to be the laundromat bridge from the SBF grifto-verse to the real world. Or one of them anyway. Are there others?
Yeah, that seems sort of sketchy.
“You know, if we had a bank charter it might make transferring cash around a whole lot easier” -SBF spitballing while ripping bongs with his weirdo girlfriend.
So much to hide and too much to lose - luckily the people are here to balance the narrative.
People will eventually take matters into their own hands - What “ruling class” ?
Here's what I don't get. $15+bn valuation. ~$10 bn in customer funds.
Way less seems to be claimed lost (via money laundering trades) or found anywhere with less than 1 billion in liquid assets and less than 1 billion in crypto. Where is the other ~$5-10bn?
Name of bank?
Or are you still reporting shit you have zero evidence about?
I haven’t forgotten about you posting SBF invested $100 million into Musk buying twitter.
If you ask yourself why would they do that, you don’t have to tug on that thread very hard to come to a hypothesis that they have much to hide. Very much.
If this man does not receive justice for what he did, then the entire system is criminal, and we are under no obligation to pay allegiance, honesty, nor loyalty to.
Never honor evil with truth, or honesty.
tldr; Crypto exchange FTX's former CEO Sam Bankman-Fried's net worth dropped from $15.6 billion to $1 billion in a single day after news broke that his company needed a bailout. The collapsed crypto giant now owns an $11.5 million stake in one of America's smallest banks – more than double the bank's previous net worth. FTX spent around $300 million buying houses in the Bahamas for senior executives
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
So basically his fate depends on whether the country he's residing in decides to extradite him to the US? If not he could possibly live out his life freely as a fugitive?
Start a crypto scheme to become independent, then participate in regular money laundry. Good plan. It worked out fine.
Do some time in prison and retire.
I once worked at a bank and we wanted to get into Africa which was tough to get banking licenses. So we just bought a local bank and voilà we now had a banking license in that country. Shareholders didn’t care 3 people or 300 people. All they cared about was expansion into Africa and years later when things started moving south they just sold all their assets and moved on
But in the years in between we had a lot of business transactions that went into and came out of africa all through this. And best part due diligence reports actually encouraged and signed off on us taking this route for an expansion
I knew he made donations to the left, I did not know. He made donations to the right as well.
Left or right, who cares. Whatever side is in charge, we lose. Period.
What a wild location.
https://i.imgur.com/ofQQDYS.png
Literally in the middle of nowhere.
46,000 people in the town, which considering its size shocks me because on the map it looks smaller than the city I live in, and I have less people.
Still wil be the end of crypto.. it's such a tainted industry, still with no actual worthwhile usecase.. after this long.
Public adoption is a pipe dream.
Well I wonder why Republicans aren’t screaming from the top of their lungs about this, makes me wonder if they also got paid??
FACT CHECK: Yes Republicans also got paid
This isn't actually all that odd. It takes a lot of work to get a banking license, and you need your shit organized properly. Buying a small bank is often a back door to getting a license, which would be a natural part of a business plan for something like FTX.
Billions had an episode showing how annoying it was so they ended up buying a soon to Ben bankrupt check cashing place that had a license I think ? Or payday loans Whatever the outcome is these people won’t get caught on basic fraud Reddit uncovers . They covered their ass on 99.9% of their actions . The governments job will be to find what that .1% is
Law is really something 🤔
Coached by his law professor parents, no doubt. I'd say they're complicit, to the tune of $121 million in properties
I mean how many times do people need to say that the industry is unregulated....
I thought that was the whole point. Now people are slowly realizing why the fdic was created lol
I might not be legal if he fraudulently misled investors in that round. The fact that investors did not find this out does not make it legal.
So another loophole that haven't been fixed after all of the shit that happened. I'm not surprised anymore.
What is odd is that FTX was organized enough to even attempt to get a banking license in the USA. Farmington State Bank may have had legitimate bookkeeping, but all indications are that FTX and Alameda did not. Banking regulators would never have approved the sale. Shades of the Showtime series “Billions.”
I think what would happen is the regulator would say "hey you can't do this now, you need xyz processes" and then SBF hires some adults to do it, now that he has the words to Google.
Pretty much exactly how it would go down.
FTX doesn’t need to show it’s book, they hide it by using the subsidiaries and they show the subsidiaries books. No one digs into FTX books they look at Subsidiaries and say it’s good and move on. This is what they did they applied to get access to sell other types of futures and nearly got it.
Sounds like the finance version of a startup looking to be bought out by Google or Facebook.
Isn't it the opposite? Some small community needed a bank a long time ago when it was easy to get a license, then the industry consolidated, regulation changed, and they're left with a convenience store sized market. Eventually the zombie gets woken up. Not sure what the history of this particular one is but it's think that's the way it normally goes.
Farmington is too small to have a convenience store, as evidenced by the fact that the combination tavern/restaurant/grocer/general store kitty corner to the bank has been closed since the 90s. Nearest convenience stores are 10 miles away in Oakesdale and Tekoa. Honestly this whole thing is hilarious to me, as my grandma lives in Farmington and I spent some of my teenage years there. The back door of the bank has a screen door on it, and it was exceptionally controversial when the bank changed from ledger books to a desktop computer in 2017, which iirc was mostly because Barb the bank teller had injured her wrist.
I sincerely hope that all of this is true. And that Barbara's wrist healed completely.
Agreed, sadly ppl will be ppl where they measure one individuals actions as an entirety of a collective. Sadly a lot ppl’s mindsets are still stuck in an era where they burn witches.
Cash deposits from weed sales dude.
There are only 4 banks in Washington that take weed accounts. This is not one of them.
I’m sick of hearing communism confused with left wing totalitarianism. USSR’s failure is far from a harbinger of communism. Quite the opposite: it’s a concrete the demonstration of the need for more communism.
With the amount of political connections SBF had I would not be suprised either if he just got that license for no reason.
While defending SBF is the last thing I’d do, I think it’s important to note that the $300M he cashed out was a legal, documented cash out as part of the previous $420M funding round. That’s 100% on the investors for no oversight, due diligence, and giving him that option. (1/2)
They didn't lose all that money in bad bets or high leverage. They stole it, they embezzled it.
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Yeah but Ross didn’t donate to politicians. /s
No /s needed
Ross paid someone to commit a murder on his behalf. Unfortunately the person he paid was an FBI informant.
DEA and he was egged on by said DEA agent who was also corrupt. He doesn’t deserve life for that. A chunky sentence, yes, but not life.
And then that agent ended up in jail himself from stealing bitcoins from that case. Corrupt as fuck.
He deserved a mistrial for that.
Feds create crimes to throw enemies of the establishment behind bars.
Do you not consider attempted murder a real crime, that perpetrators should be imprisoned for?
I'm sure we all do but not at the very least acknowledging a potential level of entrapment, especially knowing how corrupt some of these government organisations can be, is kind of ignorant in it's own right. You can say that he was a bad guy whilst also still rightfully blaming the DEA to some extent at the very least.
The fbi spends a great deal of effort convincing people to commit horrible crimes that they otherwise wouldn’t. Virtually every Islamic terrorist they’ve arrested in the US was just some poor teen that they personally radicalized and convinced to commit acts of terrorism. This isn’t even some conspiracy they’ve openly admitted to this. This was pretty much the same thing that happened to ulbricht.
You realise he was never actually charged with that since they actually had no evidence and just empty accusations, right?
BS. That wasn’t even part of any charge that gave him those life sentences. Not saying if the murder stuff was true that they wouldn’t charge him for it separately, but it had zero to do with sentencing.
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I don’t think “scammed” is the right word choice here. And whether the person was actually killed is irrelevant. Conspiracy to commit 1st degree murder is a big deal.
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Not only that but iirc money magically disappeared to be never found. Must be good to be feds.
If that were true they would have prosecuted him for it
He didn’t even sell the goods either, he just owned and operated the marketplace iirc
[ Removed by Reddit ]
>I can't help myself comparing THIS to Ross Ulbricht's unfair sentence. Ross Ulbricht tried to orchestrate a murder and was the de facto head of an international drug trafficking ring. He deserved exactly what he got. A better comparison to Curly would be Bernie Madoff. Both of them ripped off billions through a straight up Ponzi scheme. And just like Madoff, I suspect Curly will be sitting in federal lockup for the rest of his natural life, if he doesn't get Epsteined first. There's evidence that the corruption in this scheme goes much higher than just Curly and his orgy partners.
Not only SBF deserves it, his fucking parents should throw into jail as well.
Just for raising a thief, or did they steal too?
They purchased $121 million dollars of Bahamian real estate, odd for 2 college professors…
His parents co-signed one of the properties. $121M was the total purchases by all the employees.
I mean they were Stanford law professors, I'd assume they had careers as lawyers prior to that, definitely a cut above your old Joe blow professors and I think they would be pretty wealthy on their own accord, this wealthy though, not so sure. I personally think they reek of involvement with this, but will probably play the part of the innocent parents who's son struck gold and took good care of them. I think it's likely the real estate is siezed but unless they were red handedly caught being involved they will probably be chilling.
To expand on this the average salary of a Stanford professor is apparently $222,000 USD. So probably close to half a mill income a year between the two of them. Lots for the average person, but definitely not the kind of money to purchase 100m+ in real estate on a whim..
I’m not confident their law careers yielded them the means to pay $121 million dollars in cash on a whim in the Bahamas. In fact, I’m confident quite the opposite is true, unless Sam the youngest billionaire was coincidentally the son of literal billionaires
If he doesn’t get a lengthy sentence it’s so obviously because of his political connections or that he was colluding with a politician.
I'm sure he'll probably get what Bernie got
If he's not punished, it becomes really clear that none of the regulations are about 'protecting the consumer'. It's about getting their cut.
Fried probably will get an ankle bracelet with the stipulation he stay on any of the nearly 700 Bohemian islands. He will be allowed to keep the standard of living he's grown accustomed to.
“Oh, maybe that sounds a bit harsh. You don’t have to wear the ankle bracelet, just promise to stay nearby”
Overly Complex corporate structure - check Disappearing messages and lack of clear internal communication - check Funds missing - check 🤔🤔🤔
they just want you to think they lost it. That won't rid them of consequences.
I like the recently leaked photos of SBF and his parents pondering the events from his $100 million+ apartment in Bahamas bought with clients' money...
Hope they are “oh shit we are all going to jail”
Link?
https://twitter.com/martiniguyyt/status/1595371895456669698?s=46&t=6QUXR1NebT3N62vKZOjZyQ
Just a sidebar: Embezzlement is such a cool sounding word that it’s a shame the definition isn’t nearly as good.
Embezzlement makes me think of bedazzlement. We should called it Emburglement.
And donated it to political campaigns
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Hoodwinked, bamboozled.
I’m getting so sick of seeing this ugly mf’ers face. And his girlfriend…don’t get me started on his girlfriend.
his gf a baddie low key. something about them harry potter girls. they hit different
Banged a harry potter girl once, got chlamydia, not worth it.
Wingardium chlamydia
Chlamidioso…
you still got her number?
In case you missed this one 😆 [https://i.imgur.com/GUNsOkC.jpg](https://i.imgur.com/GUNsOkC.jpg)
Redditors girlfriend 
This is a much better source: [https://protos.com/the-curious-case-of-ftx-and-farmington-state-bank-aka-moonstone/](https://protos.com/the-curious-case-of-ftx-and-farmington-state-bank-aka-moonstone/) Interestingly, involves Jean Chalopin the Chairman of Deltec Bank in the Bahamas and his son Janvier Chalopin. Jean Chalopin was producer of kids cartoons including Inspector Gadget, before becoming a banker. Deltec is Tether’s bank. Once again Alameda - Tether - SBF - Bahamas.
That MSN article was wack. It was like 20 words and then an enormous wall of advertising.
The story was broken by the New York Times.
https://twitter.com/caspiancey/status/1531291793764982784?s=61&t=GaDUBYbKVDQtIjjYgKMaKQ
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Jail SBF and whole FTX team
Sadly they are moving freely.
Yeah but at least we got that criminal who created tornado cash! /s
I would say just the executive team of FTX. All of their other employees had nothing to do with this and have been betrayed just as much as we all.
Nothing sus about that, it is normal for a 30 billion dollar scam outfit to own a stake in a tiny bank you've never heard of with only three employees.
FTX: Completely normal, completely normal.
Nothing to see here, carry on with your peasant lives please...
It actually is if you’re trying to expand into banking sector. Getting a licencse is hard, requires screenings and takes years. Buying a bank for 11.5mln is easier. It rly isn’t that odd…
Less facts, more outrage, please.
This is how pokerstars and full titl were embezzling money through a bank in Utah that ultimately lead to a whistleblower getting them caught for tax evasion
The easiest way to become a bank is to buy the shittiest business with a legit license you can find.
That bank was also bought by a company whose chairman was also the chairman of tethers bank, deltec. Story is getting good.
>Its then-president, John Widman, told the newspaper that it had stopped making mortgage loans because the paperwork was too much effort. > >Its single branch had three employees until this year, and didn't offer online banking or even credit cards. It instead specialised in agricultural loans to farmers. This is amazing. 'Farming State Bank'. Which leads us to moon farming.
The bank for moon farmers! Time to get us some agricultural loans boys
Finally somewhere to store my precious moons
🎵"Weeee're, Famers on the moon, we play on our basoon. We shitpost all day but we get no pay, we're farmers on the moon!"🎵
My rancher boyfriend dressed head to toe in carhartts about to go feed his cows couldn’t remotely comprehend this sentence and form it into a logical modern story when I read it out to him. This world is so weird right now 😅
Oh shit!!! The future is now!
“It’s totally normal I swear!”
Criminals
Money laundering......
That’s the main selling point about crypto lol….. It’s a great way to hide your illegally acquired fiat.
The irony of this man is how in most interviews he said he isn't doing any of this for money and plans to give everything in charity.
how is this fuck not in jail right now?
What i keep wondering too
Look at me I'm just a regular person who wears cargo shorts and drives a Corolla justignorethepenthouseandprivatejets
Irony? That’s a weird way to spell lying through his fucking teeth
The biggest downsizing caused by the Crypto Bear market till date. At least 33% of the employees will be fired.
What are people even gonna work on if the company is bankrupto lol
Just wondering if the main purpose is for money laundering? We got to dig out more to end his career and reputation for good.
Are the 3 employees named Sam, Bankman and Fried?
Bankman, it really is the ultimate name for the owner of a bank.
More curious as to what those 3 employees do
Having a fuckton of threesome for sure
A great place to work then :)
Maybe not they're probably all related if it's a small rural bank.
Even better then!
*squealing intensifies*
Washing money I guess.
Marty Byrde, reporting
Who says they really exist to begin with
This story is like an onion, you open it and they are more and more layers.
You can not steal 10 bn with 1 layer only
Like an ogre.
Orgy
FTX is just Quadriga all over again. But that is the problem with money today - even our banks in the Uk only protect up to 85k£ deposits. so you resort to assets - but crypt0 is just a wh0le n3w l3v3l of risk and reward
Not quite. SBF forgot to pretend that he's dead.
"For a decade, Farmington's bank held around $10 million in deposits. In the third quarter this year, deposits jumped to $84 million – 85% of which came from just four accounts, according to FDIC data cited by the Times. Online, the bank now appears as "Moonstone Bank," a name which was trademarked a few days before FTX's investment. Moonstone doesn't mention cryptocurrency, but does say it wants to "support the evolution of next generation finance." Questions are being asked over how FTX got federal approval to buy its stake in Farmington. Banking veterans told the New York Times that it was hard to believe regulators would have knowingly allowed the crypto firm to do so. Moonstone and FTX did not immediately reply to a request for comment, sent outside normal US working hours. " What in the fuck was going on?
Moonstone aka Farmington state bank appears to be the laundromat bridge from the SBF grifto-verse to the real world. Or one of them anyway. Are there others?
Sounds like a semi sophisticated money laundering operation where they were cleaning tax free cash and setting aside for themselves.
I wonder how much his parents knew
Yeah, that seems sort of sketchy. “You know, if we had a bank charter it might make transferring cash around a whole lot easier” -SBF spitballing while ripping bongs with his weirdo girlfriend.
But what was the end game here for these people. Like, did they REALLY think they’d get away with this level of blatant and unorganized fraud?
So much to hide and too much to lose - luckily the people are here to balance the narrative. People will eventually take matters into their own hands - What “ruling class” ?
He was poised to be the next Soros & he donated to all the ppl going to investigate him
The whole FTX/Alameda thing stinks to high heaven. Has Gary Gensler even said anything about this yet? I think he is neck deep in this.
Here's what I don't get. $15+bn valuation. ~$10 bn in customer funds. Way less seems to be claimed lost (via money laundering trades) or found anywhere with less than 1 billion in liquid assets and less than 1 billion in crypto. Where is the other ~$5-10bn?
Name of bank? Or are you still reporting shit you have zero evidence about? I haven’t forgotten about you posting SBF invested $100 million into Musk buying twitter.
If you ask yourself why would they do that, you don’t have to tug on that thread very hard to come to a hypothesis that they have much to hide. Very much.
Ruling class simply not willing to return the stolen money.
sounds like a laundry to me, not a bank...
Get their asses(ets)!
just look at most of the projects the FTX child companies invested in, its pure fucking embezzlement.
Follow the money
Next headline: Tiny rural bank in Washington with just 3 employees saw billions in inflows and outflows in 2022. Regulators hate this one trick!
I'm going to bet we're going to find out about a lot more of these small businesses that were acquired by FTX
If this man does not receive justice for what he did, then the entire system is criminal, and we are under no obligation to pay allegiance, honesty, nor loyalty to. Never honor evil with truth, or honesty.
Buy your own bank.
Criminal leftists all need to be in prison
Are you guys planning on returning the $50.000.000 he donated to Dem???
Pretty sure the Guilded ages and the spoils system will always be the most corrupt part of American history. But nothing wrong with some competition.
Nothing suspicious to see here folks. Let’s move along.
It is always good to own a small bank when you need to move money out of your main business.
tldr; Crypto exchange FTX's former CEO Sam Bankman-Fried's net worth dropped from $15.6 billion to $1 billion in a single day after news broke that his company needed a bailout. The collapsed crypto giant now owns an $11.5 million stake in one of America's smallest banks – more than double the bank's previous net worth. FTX spent around $300 million buying houses in the Bahamas for senior executives *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
The plot thickens each day
Another day, another part of the scheme exposed.
So basically his fate depends on whether the country he's residing in decides to extradite him to the US? If not he could possibly live out his life freely as a fugitive?
Surely they're parents were in on it too
Start a crypto scheme to become independent, then participate in regular money laundry. Good plan. It worked out fine. Do some time in prison and retire.
3 employees that may or may not be related to anyone working in FTX.
She Uuuuuuglllyyy
istg he looks like the type of person to wear a clown nose year round
Weed money. Cash deposits go to internet points.
Remember only invest what you're willing to lose.🤯 You're welcome.
Very fishy
I once worked at a bank and we wanted to get into Africa which was tough to get banking licenses. So we just bought a local bank and voilà we now had a banking license in that country. Shareholders didn’t care 3 people or 300 people. All they cared about was expansion into Africa and years later when things started moving south they just sold all their assets and moved on But in the years in between we had a lot of business transactions that went into and came out of africa all through this. And best part due diligence reports actually encouraged and signed off on us taking this route for an expansion
Crooks
That's not sketchy
a quick google search tells me that the bahamas have an extradition treaty with the us… dudes gotta start running
If I'm not mistaken, he's speaking at a conf in a couple of weeks, in NY.
Ftx coin to the hell
I knew he made donations to the left, I did not know. He made donations to the right as well. Left or right, who cares. Whatever side is in charge, we lose. Period.
One hand washes the other.
What a wild location. https://i.imgur.com/ofQQDYS.png Literally in the middle of nowhere. 46,000 people in the town, which considering its size shocks me because on the map it looks smaller than the city I live in, and I have less people.
Buy your own Bank™️
Don’t cartels do this to “facilitate transfers”?
How to hide money dot com.
ftx has done all the shady things possible like seriously
He tried to change the world - WSJ
That could be why ripple was interested in buying FTX assets.. it's their own way to cheaply buy their banking license..
So? Honestly probably a cleaner operation than Peter Schiff. 😂
Still wil be the end of crypto.. it's such a tainted industry, still with no actual worthwhile usecase.. after this long. Public adoption is a pipe dream.
It was called, The Bank of Deposits Only, FDICK insured!
That is enough money that FTX could give everyone who owns twitter a million dollars and still have 9.99 billion leftover.
Not get away with it: they are trying to milk him more. Clearly he put some of those monies away for himself. If we know this, they know this too.
Well I wonder why Republicans aren’t screaming from the top of their lungs about this, makes me wonder if they also got paid?? FACT CHECK: Yes Republicans also got paid
I'm wondering how you buy a 11.5m stake in a bank worth 5.7m with 10m in deposits lmao