Discover and read the best of Twitter Threads about #ftxscam
Most recents (15)
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ELI5: Why did #SilvergateBank / $SI just implode?
I realize some people may be wondering WTF just happened so here's the unannotated short version...
The story begins when $SI, a small regional bank, decided to go full crypto.
ELI5: Why did #SilvergateBank / $SI just implode?
I realize some people may be wondering WTF just happened so here's the unannotated short version...
The story begins when $SI, a small regional bank, decided to go full crypto.
🧵2/Ω
A bunch of crypto companies used $SI to hold user deposits, stablecoin backing, etc - $USD cash. As it got more crypto customers it grew - $SI went from being a small bank to a medium bank, holding IIRC ~$15 billion in customer deposits.
A bunch of crypto companies used $SI to hold user deposits, stablecoin backing, etc - $USD cash. As it got more crypto customers it grew - $SI went from being a small bank to a medium bank, holding IIRC ~$15 billion in customer deposits.
🧵3/Ω
Since it had all this cash around $SI execs decided to invest it in a very safe asset: US Treasury bills. Basically they loaned the government of the United States money in exchange for interest plus guarantee of getting it back in N years.
Since it had all this cash around $SI execs decided to invest it in a very safe asset: US Treasury bills. Basically they loaned the government of the United States money in exchange for interest plus guarantee of getting it back in N years.
that 15,427 page #GK8 document filled with #CelsiusNetwork's creditors personal detail is quite an amazing document.
i have so many questions, but let's start with:
1. Why are there an enormous numbers of creditors in countries GK8/Celsius aren't supposed to do business with?
i have so many questions, but let's start with:
1. Why are there an enormous numbers of creditors in countries GK8/Celsius aren't supposed to do business with?
@Frances_Coppola @ParrotCapital @ExkrementKoin @NingiResearch @jiaojiao_huobi @wowabirdtweets @DataFinnovation @ThegreatLambiny @ChazzonKe @CelsiusLoans @camcrews @MikeBurgersburg
Corporate entities in the #CelsiusNetwork / #GK8 / #GK8Limited bankruptcy, pt. II. Noticed:
➤ Ernst & Young (maybe?)
➤ #KPMG (#Wirecard's dad)
➤ @TheBlock__ ("journalism")
@AABerwick @kadhim @Frances_Coppola
➤ Ernst & Young (maybe?)
➤ #KPMG (#Wirecard's dad)
➤ @TheBlock__ ("journalism")
@AABerwick @kadhim @Frances_Coppola
🚨🧵1/Ω
does anyone find it kind of... 𝒆𝒆𝒓𝒊𝒆... that at any point in time there was more or less the exact same amount of #Tether on #Ethereum as on #JustinSun's #TRON?
it's almost as if #Tether was minting 2 $USDT for each $1 in #USD backing, one on each chain...
Ω👇Ω
does anyone find it kind of... 𝒆𝒆𝒓𝒊𝒆... that at any point in time there was more or less the exact same amount of #Tether on #Ethereum as on #JustinSun's #TRON?
it's almost as if #Tether was minting 2 $USDT for each $1 in #USD backing, one on each chain...
Ω👇Ω
🚨🧵2/Ω
I mean I guess we shouldn't really worry about it given that almost 100% of the $USDT on the #Tron blockchain was created for use by #SBF on his exchange #FTX. The #FTXScam is basically an honest exchange run by honest folks, right? #FTXScam
(h/t @DataFinnovation)
Ω👇Ω
I mean I guess we shouldn't really worry about it given that almost 100% of the $USDT on the #Tron blockchain was created for use by #SBF on his exchange #FTX. The #FTXScam is basically an honest exchange run by honest folks, right? #FTXScam
(h/t @DataFinnovation)
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🚨🧵3/Ω
Internet sleuths have been able to locate roughly half of the cash that backs $USDT. Surely any day now someone will stumble on all those tens of billions of dollars worth of "treasuries" that were formerly called "commercial paper"... (h/trick @DataFinnovation)
Ω👇Ω
Internet sleuths have been able to locate roughly half of the cash that backs $USDT. Surely any day now someone will stumble on all those tens of billions of dollars worth of "treasuries" that were formerly called "commercial paper"... (h/trick @DataFinnovation)
Ω👇Ω
#Huobi seems to be melting down in real time, possibly along with His Excellency #JustinSun's fortune...
Shut down all intra-employee IMs etc, maybe fired a bunch of people. Employees now angry (or Sun is ruggin') @HuobiGlobal @justinsuntron
Shut down all intra-employee IMs etc, maybe fired a bunch of people. Employees now angry (or Sun is ruggin') @HuobiGlobal @justinsuntron
@HuobiGlobal @justinsuntron Apparently #JustinSun tried to dissolve the company (which would presumably leave all the employees unemployed).
Remember just yesterday it was reported that #JustinSun had tried to pay #Huobi employees in $USDT and/or $USDC... #Tether (h/t @crasl7 for non machine translation)
Remember just yesterday it was reported that #JustinSun had tried to pay #Huobi employees in $USDT and/or $USDC... #Tether (h/t @crasl7 for non machine translation)
Apparently 4 months ago #DCG and #Grayscale / $GBTC were suddenly "actively searching" for a Security Architect specifically for "cloud security standards" and "risk assessment"...
curiously tagged with #CISSP (computer security designer) and not, for instance, #compliance.
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curiously tagged with #CISSP (computer security designer) and not, for instance, #compliance.
🚩
👆 maybe I'm projecting but that looks to me like the job listing I might post at the moment I was scrambling to recover from a security breach #DCG #Grayscale $GBTC
Here's some reasons about the wording used, the timing, and a couple other things made me at least raise my eyebrows: reddit.com/r/AskNetsec/co…
🧵1/Ω
Dear @AllysiaFinley of @WSJ / @WSJOpinion:
You wrote back to back columns. One of them is about the SEC failing to regulate #FTX.
Other one calls @SenToomey "a free-market champ." Toomey was also a champ of SEC deregulating "non-banks" like #FTXScam.
Dear @AllysiaFinley of @WSJ / @WSJOpinion:
You wrote back to back columns. One of them is about the SEC failing to regulate #FTX.
Other one calls @SenToomey "a free-market champ." Toomey was also a champ of SEC deregulating "non-banks" like #FTXScam.
🧵2/Ω
Also nowhere in your attempt to shill as hard as possible for the crypto industry by shifting blame onto @GaryGensler and the SEC is it mentioned that the shameful #Blockchain8 wrote a letter to #SEC urging them to stop investigating the #FTXScam.
Also nowhere in your attempt to shill as hard as possible for the crypto industry by shifting blame onto @GaryGensler and the SEC is it mentioned that the shameful #Blockchain8 wrote a letter to #SEC urging them to stop investigating the #FTXScam.
Sam Bankman-Fried says he will testify before the congressional committee
Read the thread to know more! 🧵
#SBF #FTX #FTXScam #FTXScandal
Read the thread to know more! 🧵
#SBF #FTX #FTXScam #FTXScandal
He added in a tweet thread that he would try to give details on FTX US's solvency and American customers, pathways that could return value to users internationally, what he thinks led to the crash and his own failings.
The Senate had demanded he testify, but had been left with a pregnant silence up until now. A letter sent by senators threatened Bankman-Fried with a congressional subpoena if he refused to cooperate. The deadline for his response was set for 5pm ET yesterday.
Russian disinformation is a lie
Russia election meddling is a lie
Russian collusion with right is a lie
It was always the FBI colluding with the Democratic establishment and the media to spread #disinformation
#FBICorruption
#MediaCollusion
#DemocratsAreCorrupt
Russia election meddling is a lie
Russian collusion with right is a lie
It was always the FBI colluding with the Democratic establishment and the media to spread #disinformation
#FBICorruption
#MediaCollusion
#DemocratsAreCorrupt
Here’s a prev thread 🧵 on FBI & CIA
#DeepState is real. Left has control.
The political left (Democrats) have good control over Hollywood, the Media, Big Tech, Big Pharma, Education, the FBI, CIA, DOJ, IRS, CDC, FDA, NSA, DHS, and the WEF.
They’re all colluding together to create an all powerful entity.
The political left (Democrats) have good control over Hollywood, the Media, Big Tech, Big Pharma, Education, the FBI, CIA, DOJ, IRS, CDC, FDA, NSA, DHS, and the WEF.
They’re all colluding together to create an all powerful entity.
"Thank you Mr. Bankman-Fried for helping us understand the extensive guardrails #FTX has in place to protect investors from fraud and manipulation [and giving me so much money]." - @RepTomEmmer
Amazing clip of Emmer sucking up to #GodEmperorSBF.
#FTXScam.
Amazing clip of Emmer sucking up to #GodEmperorSBF.
#FTXScam.
This is coming on the heels of the letter @RepTomEmmer organized (signed by the other members of the shamefully bipartisan #Blockchain8) to @GaryGensler and @SECGov telling them to stop investigating #FTX. #FTXscam
lol.
lol.
Surely it's a coincidence that #FTX was tied for 10th place on @RepTomEmmer's "most generous donors"?
@tomemmer ran interference for the #FTXScam. Now he is desperately trying to shift blame onto @SECGov after he tried to stop them from doing their job
opensecrets.org/members-of-con…
@tomemmer ran interference for the #FTXScam. Now he is desperately trying to shift blame onto @SECGov after he tried to stop them from doing their job
opensecrets.org/members-of-con…
BREAKING:
Top @freedomcaucus Members, McCarthy Lieutenant Tom Emmer, LED CHARGE to Block SEC Inquiry into #FTXScam
Congressmen from BOTH Parties tried to thwart the Security & Exchange Commission’s (SEC’s) info requests entered about Failed Crypto Exchange #FTX.
Top @freedomcaucus Members, McCarthy Lieutenant Tom Emmer, LED CHARGE to Block SEC Inquiry into #FTXScam
Congressmen from BOTH Parties tried to thwart the Security & Exchange Commission’s (SEC’s) info requests entered about Failed Crypto Exchange #FTX.
As National File has reported, Kevin McCarthy & Mitch McConnell, Tom Emmer’s NRCC, & Rick Scott’s NRSC were all chasing #FTXScam cash to use against Conservatives to kill the Red Wave.
@CMEGroup CEO Terry Duffy called Sam Bankman Fried…
"You're a fraud. You're an absolute fraud." He recalls his encounter with Sam Bankman-Fried last March.
"You're a fraud. You're an absolute fraud." He recalls his encounter with Sam Bankman-Fried last March.
Here’s a prior thread on SBF #FTX #FTXScam that’s been ongoing and it has been drained of all funds and being converted into RenBTC and then eventually into #Bitcoin
SBFs parents bought properties worth $121 million just in the last year alone.
I’m sure they’re legit, nothing to do with clients funds at FTX 🤷♂️
I’m sure they’re legit, nothing to do with clients funds at FTX 🤷♂️
🧵1/Ω
The Seven¹ Seals of #TheCryptocalypse
The signs are all around us. Read on below.
Have doubts? At least make sure you know what's actually happening out there.
RT/QT for great justice.
🂇 🂁 🔜 🁡 🁡 🁡
¹ maybe more than 7
📜👇Ω👇📜
cryptadamus.substack.com/p/the-seven-se…
The Seven¹ Seals of #TheCryptocalypse
The signs are all around us. Read on below.
Have doubts? At least make sure you know what's actually happening out there.
RT/QT for great justice.
🂇 🂁 🔜 🁡 🁡 🁡
¹ maybe more than 7
📜👇Ω👇📜
cryptadamus.substack.com/p/the-seven-se…
🧵2/Ω
I. @GenesisTrading, by far the biggest portal between Wall St. money and the crypto verse and the biggest trading desk handling the off market trading of very large amounts of money for very large amounts of crypto, is going to declare bankruptcy on Monday at 10 A.M.
I. @GenesisTrading, by far the biggest portal between Wall St. money and the crypto verse and the biggest trading desk handling the off market trading of very large amounts of money for very large amounts of crypto, is going to declare bankruptcy on Monday at 10 A.M.
🧵3/Ω
II. Prosecutors at the Southern District of New York Will Indict Sam Bankman-Fried Very Soon
II. Prosecutors at the Southern District of New York Will Indict Sam Bankman-Fried Very Soon
A lot of terrible misinformation is being spread on Twitter by @JamesBradleyCA @JackPosobiec @CawthornforNC and others regarding FTX, Sam Bankman-Fried, the Democrats and Ukraine. Most of it is completely fabricated. I will outline it in this thread. #FTXscam
The rumor being spread is that Joe Biden funded Ukraine, then Ukraine funded Sam Bankman-Fried's FTX and then #FTX Funded the Democrats as part of some evil money laundering operation. This simply is not true. I'll explain.
Yes, Joe Biden signed off on sending billions of dollars in aid to Ukraine, all in the form of useful military aid (not cash, not crypto, not any type of money). These were tanks, guns, armor, training and other useful military objects...
I'm calling it now. The #FTX implosion was supposed to be a coordinated controlled demolition of retail crypto followed by CBDC rollout/regulatory crackdown by Biden Admin, SEC, WEF, et-al, but it went off before they could all get out of the way.
Complicit VC's helped suck retail liquidity out of market, much going to Democrats in the form of donations. SBF himself was the 2nd largest donor to Democrats behind Soros. His aunt Barbara is WEF, and launched Dem leaning political operations just before launch of #FTX.
Meanwhile, SBF and FTX were consulting with SEC on new regs, hiring former CFTC employees, testifying on Capitol Hill, and exhibiting some extraordinary regulatory capture cred for a 3 year old start-up run from a swingers dorm in the Bahamas.
