Massive disturbance in the Force. Sam Bankman Fried (SBF) was rolling the bones to the tune of billions, borrowing massive amounts of money from his crypto exchange FTX to pay for his hedge fund Alameda Research's trading. And everything else, including mega millions to the Ukraine > Democrat funding funnel.
Smart, and what was the collateral for the loans, the billions of dollars borrowed? FTX's native token FTT, which disastrously nosedived 75% triggering margin calls and FTX bankruptcy. The money, you see, just wasn't there. Is this a Lehman moment? I don't know, but I'll leave you with a helpful Day by Day infographic via Ed, widescreen it if you like:
Smart people are cleaning weapons, loading mags and getting ready to buy low. As always, my money's on the monkey.
Your Old Pal,
LSP
8 comments:
It’s not Chinatown. It’s something The Rev’run Jesse Jackson said that can’t be repeated.
Fake crypto (nothing of value backing the coin) runs a Ponzi scheme and then it tanks with nothing for investors in the bankruptcy. A tale as old as time. Investors would have been better off buying Bosnian War Bonds...
Money for nothing and your chicks for free.
Now get back to moving these refrigerators, eh?
I've invested in lead and brass, I'm good with that.
Now that you've mentioned it, Mike, I've got a good mind to revisit Chinatown, in London. Or Calgary, maybe both.
That they would, LL, and FTX/FTT seems most especially valueless. Except to the Democrats. I feel there's a story here and wonder what the OLD WITCH HRC would say. Did SBF and the Gang get too close to the fire?
DOGE$ forever.
Imagine all those billions, Wild, and the jets, the boats, the beautiful houses.
Annnnd, they're gone. Dam.
Totally with you, Mr. NFO.
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