Discover and read the best of Twitter Threads about #ftxcrash
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⚠️ Further twists in the #FTX saga by @elliptic . Money laundering is under way using a service owned by Alameda/FTX
The Ether taken from FTX is currently being converted to #RenBTC, which allows it to be moved over to #bitcoin using a service called RenBridge, operated by Ren.
The Ether taken from FTX is currently being converted to #RenBTC, which allows it to be moved over to #bitcoin using a service called RenBridge, operated by Ren.
Ren was acquired by Alameda Research last year: lnkd.in/e_aDEbdG
#ftxcrash #ftxbankruptcy #cryptocurrency #financialcrime
#ftxcrash #ftxbankruptcy #cryptocurrency #financialcrime
The use of RenBridge in this way is textbook black hat hacker. Elliptic research showed how the service has been used to launder hundreds of millions of dollars in #crypto from ransomware, hacks: lnkd.in/eigGms5e
1/ I just talked to an outsider about what happened to FTX, the whole thing is very dramatic. Now let us review this event, SBF actually has a way to stay alive, $6 billion was withdrawn from the FTX within 3 days, with approximately a $6 billion hole. #FTXCRASH 
2/ which means the reserve ratio of 50%, honestly, this is okay. Besides, SBF was able to raise $6 billion in 3 days, it’s not hard to wait for a longer period of time to raise more funds, and not all users may withdraw their coins.
3/ The problem with SBF is that he is a trader, not an entrepreneur, and his skills are severely biased, lacking the ability to solve real problems and face human nature. With his professional skills, a trader can be a general, but the entrepreneur is the all-around king.
Sam basically went with the "money glitch method"
If you don't understand what sam did then here you go 👇
#CZBinance #FTT #FTXCRASH
If you don't understand what sam did then here you go 👇
#CZBinance #FTT #FTXCRASH
FTX created $FTT inflated its value.
Transferred that money to their sister company @AlamedaResearch where they can show a profit on their balance sheet
Then proceeds to borrow other assets like btc, eth etc.
Transferred that money to their sister company @AlamedaResearch where they can show a profit on their balance sheet
Then proceeds to borrow other assets like btc, eth etc.
After borrowing all these assets they can send all of these assets back to FTX
By doing this you can literally create and print as much money as you want.
This is why $FTT has such a big effect on the @FTX_Official
By doing this you can literally create and print as much money as you want.
This is why $FTT has such a big effect on the @FTX_Official
Here is the story of @cz_binance overtaking @SBF_FTX
How @SBF_FTX and @AlamedaResearch lost today
Blitzkrieg.
Checkmate.
Total Surrender
One of the fastest wars in business history
🧵A thread for those who missed it
#cryptocrash $bnb $sol
#BNB
How @SBF_FTX and @AlamedaResearch lost today
Blitzkrieg.
Checkmate.
Total Surrender
One of the fastest wars in business history
🧵A thread for those who missed it
#cryptocrash $bnb $sol
#BNB
Fuck around > Find out
YOU DO NOT FUCK WITH CZ
@milesdeutscher wrote a great thread about Sam Bankman Fried and Alameda
Here is the gist of it:
SBF was hailed as a hero in the past
Moving the blockchain space forward, doing a service to the industry
YOU DO NOT FUCK WITH CZ
@milesdeutscher wrote a great thread about Sam Bankman Fried and Alameda
Here is the gist of it:
SBF was hailed as a hero in the past
Moving the blockchain space forward, doing a service to the industry
Sam Bankman Frieds net worth grew close to $15 Billion
He started to invest in companies (@Aptos_Network and @SuiNetwork e.g)
and had enough fire power to bail out Blockfi and considered even helping Celsius.
He also heavily got into politics and started donating
#BNBchain
He started to invest in companies (@Aptos_Network and @SuiNetwork e.g)
and had enough fire power to bail out Blockfi and considered even helping Celsius.
He also heavily got into politics and started donating
#BNBchain
