+ 5 FTX is history repeating itself (with gifs)
For those not following, FTX was one of the largest exchanges up until a couple days ago, they mismanaged and over leveraged funds, using their native token as bulk collateral which backfired on them when panic set in and people tried to move massive amounts of funds out. This resulted in their company going from 32bn to worthless overnight.
As soon as they filed for bankruptcy, a 'hack' hit and began draining wallets associated with FTX. It's still going on right now.
For those of you that were around circa 2013 when MtGox existed, this scam is very familiar and is what plummeted crypto after it's all time high back in 2013.
Seems to be a repeating pattern every decade or so.
The silver lining, despite crypto being the wild west of money exchange and decentralized, there does need to be some kind of regulation that stops these things from happening and this could be the catalyst that drives that. Anonymous coins will always exist along side such as monero(XMR) but without protections for every day people, cryptos life is destined to read like an excerpt of Les Miserables.
For those of you that are crypto investors, don't panic. It's been a rough rough year and it may take some time to recover but eventually, crypto always recovers, better and stronger. People who bought at $1250 and sold at $100 cut their losses in 2013/2014. The same people bought at 15k in 2018 and sold at 4k in 2019.
If you bought at 60 and sell at 15, you lost, if you hold indefinitely, you never lose. I'm not suggesting anyone go out and buy crypto, sell crypto, hold crypto, I'm only offering perspective. Crypto is still in it's constantly infantile stage with lots of abandonment issues, constantly being knocked down but always fighting to get back up.
And here's to a happy ending, crypto has been through the trials and tribulations, it may be time for old enemies (sec) to become new friends and to aid in the protection of the users. There's no perfect answer but this is the only future I see where BTC can become a legitimate currency and exchanges can be held accountable.
not sure how I ended up on Cheetas and Gazelles, probably a good sign I need to go to bed
https://www.cnbc.com/2022/11/08/ftxs-ftt-token-plunges-80percent-wiping-...
https://www.reuters.com/article/fintech-cryptocurrency-breakingviews-idD...
https://www.coindesk.com/business/2022/11/12/ftx-crypto-wallets-see-myst...
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Update: FBI plans on extraditing SBF but I'm still skeptical on them handling this without bias.
Dude went on a weird twitter troll over 2 days posting just single letters, assumingly trying to buy time but just ended up pissing everyone off.
It's still a shit show.
Don't leave your money at an exchange at all. Do a transaction if you need to swap or whatever and pull it out.
Imagine going abroad and leaving all your money with this guy so you can get a falafel later on.
If we're going by looks alone, I'd probably trust that guy over these two. Something about them just makes me feel dirty
My god you're right lol. That's the ftx dipshit but whos the girl?
That's sweet Caroline, she's the CEO of Alameda and Sams girlfriend/co conspirator. It's where 10bn of the customer funds allegedly went before they both filed bankruptcy. It's super messy. There's money moving around, insiders planting malware and stealing directly from wallets, mismanaged funds, there's millions if not billions that have likely disappeared and no one knows where. It's the perfect time to slip out a couple million and blame it on the other chaos.
Oh and before I forget, FTX was run by a group of 10 'kids' supposedly in some weird love...decagon? Now you have the image of a skinny fat orgy with those two greased up in the middle to start your day. Toodles
But at least they're vegan
Check his pad out:
https://www.dailymail.co.uk/news/article-11426789/Sam-Bankman-Fried-puts...
bet they had the sickest orgies there. I'm not ready to sell that much of my soul yet
That's only one of his homes too - can you imagine owning somewhere like that on a rooftop at 30 years old (and younger when he bought it) and just laughing at the world in terms of how much money he has made. Its insane .....
according to Wash Post, he was a very frugal spender and has had a very tough week and people shouldn't be so hard on him.. I honestly cannot believe the shit I read on the 'news' these days.
That's because he's a big donor to the DNC
Probably get sick all over the place if that mug showed up at any orgy I was involved in. Just sayin'
Insomnia update:
Apparently CEO Sam BF and other staff were detained and questioned in the Bahamas.
The identity of the 'hacker' was found by Kraken. Ex FTX Dev Samuel Hyde, who had a fallout with FTX earlier this year and has a beard that can reach out and touch your kids.
Ironically, Kraken has done more to protect FTX users funds then FTX has.
And in lighter news
Crypto Confidence Soars After CEO Defrauds Customers Just Like Real Bank
if anyone here has been using ftx or ftxus it's a good idea to unlink your bank account, delete all apps off your phone. crazy shit going down.
https://twitter.com/mikemcg0/status/1591477400634023938
https://twitter.com/gainzy222/status/1591555581302943744
So do we know the fate of the baby then Uncle - or was the cheetah just getting its breath back first? Lol
The first gif was a jaguar, the second a cheetah....I think FTX probably leveraged these photos too. XD
Well F*** me you are right too!! Lmao Jesus not much gets past you Lol So whats the deal with the second photo then - is the cheetah just not hungry or did she raise Bambi herself? And did the afterbirth put the Jaguar off too??!
The actual story is that this particular cheetah kept adopting gazelles and would allow the mothers to come feed it then chase them off when done. The first one died from malnutrition, the second was killed by another cheetah and the 'mother' cheetah went in to a depression, the third was taken by the wildlife protection folks and the forth one they just said fuck it to see how it plays out because she's hell bent on having a pet gazelle. I believe that's the story, haven't followed up on it for a while.
LOL No kidding??! So I guess the moral of the story is being raised by a different species of animal (especially one that enjoys eating you) doesn't work well. That's so funny how she never followed her instincts to kill it, or maybe she was a vegan cheetah?
I was wondering if anyone would notice. It's probably even more fitting for the theme this way.
They became best friends, as pictured in the last photo.
HAHAHAHA You crack me up!! - if there was ever a prize for the wittiest source you'd win it Lmao
An accurate depictment of a "CEX/CeFi" and "Average Crypto User" relationship.
RealizeRealLiesThe last pic lollll
looks like one of the links broke but I fixed it so the story is now complete... now that I think of it, I could have made an entire bambi theme from this whole thing
RealizeRealLiesI always appreciate your content. Your gear too, but you've got a good personality.