The Collapse Of FTX: Insiders Tell All | CNBC Documentary

[@paladro]

its not a complex story, he broke contract language, stole depositor money, gambled it on alt-coin, spending untold millions on celebrity marketing and lobbyist influence peddling, all while skimming off the top for himself and his family... exactly zero about this is revelatory or unique when it comes to fraud and scams, he lied to customers and stole their money.

[@charleslaw4317]

That's it! Period!

[@critterdude311]

Yea, but the thing is he is a leftist though. Who had good intentions, because he is a leftist. So it’s really not a big deal what he did. It’s only a crime to steal if you are a right winger.

[@thrls]

correct, this doesn’t even have to do with crypto, it’s just a plain old scam with crypto as the cover

[@booognish]

And he probably got high on stimulant research chemicals while getting his gooch grabbed by Caroline “low-mid” Ellison in a multi million dollar Bahamas penthouse..

[@jasonalexander2085]

Bravo, u are correct!

[@handlealreadytaken]

CNBC had a direct hand in propping this guy up and putting it in his head that he's a god. Funny how they only get critical about him and FTX now that's it's 6 months after the collapse.

[@sngs9565]

Exactly...by the same person, Kate Rooney!😂😂😂

[@Minarreal]

A "they fooled us too" notice would've been nice. Although, to its credit, CNBC is just a parroting broadcasting network, it doesn't do investigative journalism on the level that other outlets do.

[@pyromcr]

All CNBC ever does is prop up con men to steal money from retail investors. If you watch this crap channel to try to figure out how to get rich you are going to be taken advantage of.

[@hello-friend990]

It's our fault though. We stopped paying for media. They post anything that will generate clicks

[@mischasepp]

Cnbc should be sued also! They chilled the scam

[@TheNinnyfee]

He didn't even have an accountant yet all the finance magazines featured him. Gross negligence on their part.

[@Group_Anonymous]

Sam Bankman-Fried was diagnosed with autism at a young age. Autism, a neurological condition, affects individuals in various ways, often influencing social interactions and communication skills. Growing up with autism presented challenges for Sam, but it also shaped his perspective on the world, fostering his unique way of thinking and problem-solving.

[@FaithandNova]

@@Group_Anonymousthat has nothing to do with his business being pushed without verification.

[@JohnnyMn4monic]

He's nothing but a fall guy, chosen by the Agency to front run FTX

[@Christina_Cage]

Dig deeper

[@tombutler5489]

Greed is the key to this saga

[@Stretch501st]

Whose here after he was found GUILTY of all 7 charges put against him? He now faces up to 150 years in prison.

[@franciscogomes9844]

The guy with the chain, Versace shirt and BAPE pants is personification of crypto bro

[@ryanchng3]

You forgot his richard mille

[@thunderb00m]

Evan luthra is a scammer that squanders daddy's money. look him up. coffeezilla made a video on him a while back

[@PKB55]

CNBC certainly could've picked more sypathetic FTX customers to interview

[@alan_davis]

​@@PKB55nope, they all look like that... (at least the ones that aren't too embarrassed to admit the trade snake oil)

[@blakasmurf]

Yeah Luthra's a known scammer so a bit rich coming from him lol!

[@royed31]

I cannot believe how few people are being charged over FTX .

[@mikafiltenborg7572]

Corruption......

[@sym8246-f5c]

You know why.

[@JJJ_JJ1]

Scratch the surface and this is not only believable… it’s expected 😕

[@ultimaIXultima]

There wasn't that many people involved...

[@internetpointsbank]

Lol...

[@randomcon123]

To be fair, when I heard that interview when SBF said his goal was to donate all his money… I instantly thought this guy was not trustworthy. No one starts a trading firm for charitable purposes…

[@arun279]

Yeah that’s kind of a red flag. The people who have pledged their wealth to charity are usually people who spent their career building companies, products, and services they wanted, and later on in life thought about what to do with all the personal wealth they’ve accumulated as a result. Someone saying they’ll spend their career accumulating as much wealth as possible with the sole purpose of giving it all away at the end would immediately raise a red flag to me.

[@randomcon123]

@@arun279 exactly… if he’s as old as warren buffet then yeah I might believe him (obviously will need to judge more on his actions throughout the years)… but people often just lost any sense of sensibility when they see the big dollar sign in front of them

[@neilchapman5145]

Bill gates has just given half his wealth away…….to himself

[@nintendoconvert4045]

They call it “effective altruism”, but it’s about as effective as communism.

[@-Swamp_Donkey-]

He’s Jewish. Call me whatever names you want, but you should start paying attention to what they’re doing, and what they’ve been doing for a long time. Don’t be scared

[@LenaSchweizer-ff8xy]

Treasury rates are rising quickly, the markets are collapsing, inflation is skyrocketing, and the Fed is imposing a significant interest rate hike-all of which will result in further losses for portfolios this quarter. How can I take advantage of the present market volatility? I'm still undecided about whether to sell my $125,000 worth of bonds and stocks.

[@AaronZak-js]

For the average citizen, the tactics are rather demanding. In actuality, most of them are effectively completed by experts who possess the necessary knowledge and skill set to carry out such occupations.

[@govindagovindaji4662]

Inflation ain't rising...it's been falling for years [after it first skyrocketed] and now in 2024 I am not sure what it is doing, but I think steady.

[@dickburt69]

I’m going to poop in my hat.

[@dpagain2167]

@@govindagovindaji4662 Where was Lena Schweizer getting her info from? That was a totally incorrect analysis of the situation 4 months ago. No markets were collapsing at that time, and no markets have since collapsed.

[@Lucas-zb2wg]

​@govindagovindaji4662 this is a bot lol

[@anjolatope-babalola2338]

Cnbc is still being friendly and speaking nice about binance It wont suprise me that after binance crashes we would see a similar documentary

[@aarondavis8943]

Interestingly, it was the binance sell-off of FTTs that started the crash for FTX. Now it looks as though the FTX crash might feed into a binance crash. I wonder if binance is regretting the sell-off right now? I guess it had to happen sometime; perhaps in the scheme of things it makes no difference and binance was always unsound.

[@mrvivalatang]

They are all unsound... Bitcoin NOT crypto. Not your keys not your 🌽.

[@HabitualLine-Stepper]

His parents' involvement is telling... They both extracted actual capital and social capital from their son's business, whilst doing their best to stay just on the right side of legal... At no point did they tell their son to stop; the cash and status corrupted them... The father's determination to feature in the FTX advert starring Larry David is also telling...

[@peredavi]

I hope his parents are prosecuted. They are certainly guilty of illegal acts.

[@gordons-alive4940]

No, they didn't tell him to stop. They made sure to get their bag before it all fell apart, though. Not all that surprising from people who made a big show of being altruistic and ethical.

[@ridwanomar5351]

@@peredaviI highly doubt it.

[@ridwanomar5351]

@@gordons-alive4940most certainly someone has to always win before the fall.

[@Tyler-vw9bh]

Let's not forget the most concerning part about this entire ordeal.... Anthony Scarramuci's shoes @13:44 always do the opposite of what anyone wearing those does

[@Carrie-e8l]

As a soon retiree, keeping my 401k on course is my top priority. I have been reading of investors making up to 250k ROI in this current crashing market, any recommendations to scale up my ROI before retirement will be highly appreciated.

[@NoelKunz-c7s]

@marilynchamber-i3t I deal with an investment advisor for this reason. I currently have over $800k invested in a diversified portfolio that has grown exponentially and is suitable for all market seasons. Our current project for this year is a more concrete ballpark target.

[@Carrie-e8l]

@@NoelKunz-c7s Who is the coach who guides you? I urgently require assistance; my stock portfolio is stagnating, and I need investment advice for retirement.

[@NoelKunz-c7s]

@@Carrie-e8l Victoria Carmen Santaella is the licensed advisor I use. Just search the name. You’ll find the necessary details to work with to set up an appointment.

[@Carrie-e8l]

@@NoelKunz-c7s Thank you for the lead. I searched for her, and I have sent her an email. I hope she gets back to me soon.

[@jamesrobert4106]

A bot scam on a video about a financial scam. The irony.

[@Sirius-me5zy]

When celebrities say it safe,we have to go the opposite way

[@johnny7121]

by..."we" you mean, you and your friends?

[@charlesbrown1756]

@@johnny7121lmao stfu and stop being a follower

[@specialspring]

💯 anything recommended by brainwashed celebrities or government or fraudulent doctors… if you’re smart you run the opposite way

[@daleolson3506]

Just like the government

[@ambassador8524]

No doubt

[@introvertsrock9843]

Hope they seize his parents house paid entirely by FTX ....16million!

[@Jordan-Ramses]

They should go to jail too.

[@torijones5194]

A KZbinr I follow broke down the civil cases against his parents. At the end he said they're either very incompetent or knew exactly what SBF was doing and are co-conspirators, but there is enough evidence to criminally charge them. Unless SBF flipped on his parents I don't think they'll find enough to press charges.

[@JJJ_JJ1]

@@torijones5194 Incompetent Stanford Law professors lol. Why are we even giving them the benefit of the doubt? They are complicit, and all of Sam’s connections stem from them…

[@hagestad]

@@torijones5194 incompetent? university professors? they were in on it. For example his father was the one that hired some of the employees. That includes the lawyer that was in center of other business scandal. Don't remember his name right now.

[@chalinofalcone871]

His uncle is this guy: "Consumer watchdog groups are applauding President Biden's pick of Gary Gensler to run the Securities and Exchange Commission. They say that there is much to do to protect everyday Americans who invest their retirement or other savings in the market and that Gensler has proved he can get that done. " [NPR, Published January 27, 2021]

[@mikea5745]

It's concerning how many people are investing money they don't have and/or can't stand to lose

[@abdu1wahid105]

Those fooled were mostly exchanged their fiat to hold FTT and SOL! 🚩🚩🚩

[@guaxary]

Gamble, not invest, just gamble.

[@stachowi]

mostly broke and desperate people are in crypto... whales only have a small portion of their assets in crypto.

[@ridwanomar5351]

@@guaxaryyep if what they did is not gambling I don’t know what is.

[@WhalesArePeopleToo]

I think it's commonly known as "gambling"

[@Fer-xl3ig]

Wasn't Alex Becker a private investor for Project Blcktken300 . It's been killing it lately. Do you think it's still got room to move.

[@phnix6242]

Yes…..bot

[@fwembill]

Bot squad

[@khalidalali186]

Remember when they called him a “Genius” or humanity’s “Savior”?

[@blipblop92]

Definitely a genius nonetheless 😅

[@waffles4393]

In the 1930's, they were calling Hitler the same thing.

[@Marc_Masters]

Yes

[@sluntcayer7521]

They=media

[@arun279]

I think he pretty much exposed the playbook to capture a certain slice of the political and ideological demographic, as well as mainstream media. Whatever he did, anyone can reproduce and achieve the same result even today I think, with a couple of hundred million dollars. Use the right talking points, donate to the right politicians, pay the right media organizations as grants, etc, and no one will take a closer look (unless someone outside this influence sphere decides to dig).

[@adamcrain7993]

My jaw actually fell open when dude said he would take 11 cents on the dollar in bankruptcy recovery and put it back into crypto. I've rarely in my life yelled at my computer before...

[@Eric-rm4uu]

It’s a cult, basically, how can you convince someone in a cult that they’re wrong, these people are too far gone and can not be saved. Not even when reality is punching them in the face are they gonna budge in their deranged beliefs, truly remarkable.

[@devonwilliams2423]

Bro had a BTC USD chart in his background rocking a offbrand apple mouse no mousepad combo with a keyboard that uses pictures as letters. Wait till you find out how much hes holding in GME :laugh

[@unETHical_detailer]

​@@devonwilliams2423 I'm dead😂

[@BocchitheRock132]

​@@devonwilliams2423bro is the face of wsb subreddit lool

[@prndownload]

@@davesmith3023 11% is what he hopes to get back of his original investment. It's not referring to a commission. The commission would be 89%.

[@recordevo]

SBF looks so shifty in interviews. He had all the signs of a liar.

[@Anyway.Iloveyou]

💯 absolutely no truth in his eyes

[@Pau_Pau9]

SBF: "I want to save the World." Translation: "I want to steal people's money."

[@mikafiltenborg7572]

Scam Bankman Fraud 😂

[@captain_cgc2413]

It’s so obvious that he is a conman. So many like him roaming this rock.

[@stevejeffrey11]

just like his pal Gary Gensler head of the SEC who is not doing his job both of the (( big nose tribe ))

[@AlexisVlza-vq8rj]

Let's discuss the Blcktken300 guys. This is failproof and barely any asset can be labelled failproof at all.

[@tobyhoyle]

Good morning Loser. haha haha hahahaha

[@shoylu88]

Love it when journalist never ask hard questions.

[@myp0h]

These journalist are wishy washing 🙄 No real deep truths or discovery. We know all this. They dont hold others accountable who promoted ftx and lie to investors. They dont place pressure on his family or Gary gainsler or shark tank guy

[@michael2275]

Modern 'journalism' is a total joke performed by clowns.

[@Stash186]

Then keep doing puff pieces after the fact

[@marcusaurelius6012]

100% correct

[@KTravRuNEr]

Not a journalist. This isn’t journalism. It’s free marketing for him. She just smiles.

[@hulksmash2816]

Theranos did the same thing! The due diligence these investing companies go through is a joke!

[@TomikaKelly]

I hate to be the one to say it, but just by looking at him I wouldnt have trusted him with $5 let alone $5 million. 🥴

[@andrearoberts1953]

🤣

[@mikeblevins4277]

Also when he speaks, you can tell he's a lying sociopath.

[@guitarsoundsaround]

He’s a slob, obese and doesn’t care about his hygiene. Popping pills and clinging to mom and dad. I agree, based on his appearance alone - I wouldn’t have invested a penny.

[@-Swamp_Donkey-]

He looks very Jewish. We’ve evolved to correlate Jewish characteristics with being untrustworthy. But we’re so collectively afraid of Jews or criticizing them that their schemes are allowed to work.

[@kenny4957]

Cool it with the antisemitic remarks

[@b1646717]

This same thing happened to millions of Americans in 2008. I woke up and a third of my retirement was just gone. The difference is I didn't invest in a crypto scheme and I was forced to give more money to the same people that lost my retirement.

[@sor3999]

Only if you realized those losses. If you panic sold like an idiot you missed out on a 10 year bull run.

[@aaronw8770]

What this whole ducumentary doesnt tell you is the Giant Rug Pull the banks did to these exchanges, crypto banks, and Crypto Investors. I'm not saying what SBF did was okay. But watch at the 22:30 minute mark. The hearing says that he had terrible record keeping. Then Ex Goldman Sach's Anthony Scaramucci comes in and says his books were remarkable.

[@aaronw8770]

This just keeps getting better. Immediately after the contradiction. The former president of FTX (Brett HArrison) Former Jane Street / Citadel Employee (We all know are for the banks.) comes on and just denies everything. Saying he didnt think he has to ask about the companies financials. Dude youre the president of the companies U.S. Division. Youre taking a job on one persons trust? Brett even talks about SBF like they barely had a relationship.

[@csguy466]

This isn't a "crypto scheme", it's an exchange where the CEO literally stole billions of dollars of customer's funds. You wouldn't call Enron a "US Dollar scheme".

[@uberunter7457]

The problem is a lot of pension funds invested in FTX. So some people didn’t choose to invest in this and lost chunks of their retirement.

[@vinceocratic]

You can’t pull this off unless you have cooperation at all levels. SBF undoubtedly understood this and seized the opportunity

[@godzillamothra5983]

when he said that FTX has no direct market exposure, he clearly knew what he was doing, he clearly knew what he was not supposed to be doing, using customers assets

[@TheVizions]

To gamble 174k, down to 19k , & then put the 19k back on the SAME table to roll the dice again is MENTAL ILLNESS! He looked insane saying it…..😔

[@nabawi7]

That man is a degenerate crypto gambler 😂

[@yourmommashouse]

THANK YOU. Nice to know someone elses brain works correctly

[@YumboYack2521]

Exactly what I was thinking, no lessons learned. Roll the dice again in this crooked casino, this time it’ll be different! (Hint: dice is weighted, table isn’t level. He will lose again)

[@michaelwagner8859]

My thoughts as well. Obviously he hasn't learned his lesson yet.

[@2Ace_Eth]

If you think it’s the same table you didn’t watch the whole 39 minute video. Crypto can be stored on independent wallets and/or publicly owned companies. This was a instance where a privately owned company committed a TON of fraud and didn’t invest the customers deposits in crypto.

[@ChiefKene]

It’s funny they are only focusing on Sam. You have his parents, his brother, politicians, famous celebrities, famous investors, lawyers, and new publications and tons of other interested parties that should be investigated and tried.

[@myp0h]

100% there were so many others colluding on this. Maybe not the celebrities so much but someone like Shark tank guy should be fined.

[@andyy6481]

it's called a scapegoat

[@cooltrades7469]

@@andyy6481 No he's not . Your brain is not really working , change it ....:). He organized the thing and took decisions the important in the whole scheme . Go watch cartoons , stay at something more appropriate :)

[@gbb82]

They are suing the celebrity endorsers.

[@cooltrades7469]

He was in charge . He took the important decisions . The rest of those involved are discovered now , and it's all verrrrry public . There's no mistery . And you can't press charges untill exact accusations are formulated . Which needs a bit of time , etc . Again , it's all out there . His parents will be also part of the process for their share of implication . It's just that you don;t get it . Nothing funny here . Maybe it would be better to just don't worry at this point . Some professional see to it :))). Chill. Organize your own life etc ...

[@MarkDavis-wm9yx]

We’re always hearing that income inequality is getting worse. Is that the case? It depends on what time frame you’re looking at. If you’re just looking at the current administration, that’s certainly true. But these kinds of changes occur all the time. If you’re saying over the long run, no, I wouldn’t think so I've seen a lots of positive post about MR SAM DEYMON I find stock.

[@MarkDavis-wm9yx]

He's TE LEG RAM...

[@MarkDavis-wm9yx]

@SAMDEYMON53

[@MarkDavis-wm9yx]

Best of luck to you all and your future 💯

[@wiktoriabartek999]

Mr Sam is really good and so content, you can reach out to him.

[@zuzapaul9732]

Yes!!!!! After watching so many KZbin tutorial videos about trading was still making losses until Mr Sam started managing my investments now make $10,567 weekly.

[@alexfaber4377]

so glad i was smart enough to not fall for this ridiculous scam.

[@thomasdeclerck-d3j]

its not being smart, it's just not being stupid

[@aarondavis8943]

I'm so glad I'm too lazy to bother 🤣

[@ishizukahikaru643]

Me too! I've had countless friends try to get me into this and that MLM type schemes and someone tried to guilt trip me on getting into FTX. However, my personal morals are about earning through real hardwork and I don't believe in get rich quick schemes. I've learned this the hardway back in my early 20's when I tried to become a stock trader. I lost $10K on the market and remember back then was glued to screen watching charts and TV. Was really stress full and bad for my health. Glad I got out of the rat race.

[@metroplex3k]

I would rephrase - not being dumb does not make you smart…. So at least you weren’t dumb enough to fall for it.

[@ICHBinCOOLERalsJeman]

I am still baffled people describe Sam as some sort of modern genius, given how much that description clashes with how he actually acts and talks

[@osama2059]

you forgot..😇 he is an MIT graduate.

[@Jfreire16]

I have to say I do not trust that Brett Harrison didn't know what was going on at FTX. He was the president of the company. He had been in the industry for over a decade at other financial services firms. He knows the checks and balances that exist at those companies and the accounting that is required in order to make sure everything is tracked appropriately. Just doesn't smell right.

[@charleslaw4317]

Exactly!

[@firstnews4434]

He wasn't the president of the company. Get your fact straight. He was the president of a small part of the company; FTX US. And he did not work in the same location as Sam and his inner circle in Bahama.

[@chuckschillingvideos]

Everyone knew. Everyone at FTX knew, and everyone at Alameda knew. In their arrogance, they somehow believed they were inoculated from the criminal and civil penalties for their behavior because Bahamas.

[@AaronAubreyPhoto]

He also bought a 2.5M yacht right before bouncing from FTX..

[@louieg7676]

The guy knew they were scamming people and it's only a matter of time until the fraud unravels itself. As an Executive level employee, you have the access to important information, executive meetings, organizational charts, processes etc. and could pretty much smell crap when you see it. He's just washing his hands clean and pretending he doesn't know.

[@ArmandoMelaj-et4pi]

I've been involved in stocks and crypto investments for some time now, but I haven't seen the positive results I was hoping for. What could I be doing wrong? Please, any help would be greatly appreciated 🙏🙏

[@CJBrown-et8fm]

Staying current with market updates and keeping up with news sources such as CNBC could help out

[@ManbyHamilton]

Consider getting advice from someone who knows their way around, if you're not familiar with the market. Look for a financial advisor.. Their services have greatly contributed to the success of my investments for years.

[@VictorStewart-xd1zc]

​@@ManbyHamilton I totally agree with you

[@FreyaAndrea-vy3pe]

Yeah! I always recommend Mrs Jody Norman

[@FreyaAndrea-vy3pe]

She's the most reliable one I've worked with. I highly recommend her if you want excellent collaboration.

[@sanghoonlee5171]

Halfway into the video, and not a word about how Coffeezilla exposed FTX. Is CNBC afraid to acknowledge that a KZbinr did what it couldn't?

[@fallguyjames]

CNBC provided free advertising for FTX

[@Arch.JosephChua]

Agree, Coffeezilla did more journalism than all the others.

[@zacharythomas8617]

Got a link?

[@josephfong552]

Great comment, coffezilla great content

[@fallguyjames]

@@zacharythomas8617 kzbin.info/www/bejne/aqDCm4Owd7-Gf9E

[@andrearoberts1953]

My sister, who has an MBA, told me 2 things. First, diversify. Second, don't completely trust anyone with your money.

[@switch1237]

Facts

[@okiedokie2557]

​@@peoplelikefrank😂😂😂😂 I came here to say that

[@FuriousTheGeorge]

Literally anyone could tell you that wtf..

[@ThisHandleFeatureIsStupid]

lol, MBA 😂🤦‍♂

[@georgie6060]

Even Suze Ornan could have told you that.

[@baxoutthebox5682]

It’s weird that Kate makes no apologies for her own lapses in journalism. Just a quick gloss over like, “I guess we got duped too, whoops!” Then right back into the story.

[@candyjamaican]

How so? She didn’t encouraged investors. She simply reported on his ‘work’ and how it’s impacting the investors.

[@imnotarob0t1984]

Lol yeah just like women and gold diggers. They don't care where the money comes from

[@imnotarob0t1984]

She didn't do any actual research. It was just a puff piece for SBF @@candyjamaican

[@angeliqueoren2462]

Amen many "journalists" dropped the ball!

[@Currentlyundiscovered1000]

Not just journalists, hedge funds

[@izzy7062]

The one glaring thing these ponzi schemes have in common is greed. Greed on the scammer's side, but worse, on the scammed side. You can't scam people who aren't greedy.

[@alanross1106]

Just what I was thinking. Greed

[@user-dy9bm7sk7n]

Old fashioned GREED is a very dangerous thing....just like jealousy.

[@DavidKen878]

That's literally the point of investing! You don't buy stock with the hope of it remaining the same price 🤦🏽‍♂️

[@aem870]

Dumb to think that everyone who gets scammed is greedy. You're a victim blamer. If a grandma is advised by a trusted person to put her money in an account then it gets stolen, it is not because the victim is greedy. Stop blaming the victim.

[@blackreptilian6045]

I wonder WHY Sam father is NOT in jail yet if he was on FTX payroll and former FTX US president

[@stevidente]

“Hasnt shaken my faith in the underlying asset”. Famous last words. 😅

[@selfieband5330]

🤡🤡🤡 At this point! 😂

[@sanshaj]

Gamblers going to gamble

[@Matt-cr4vv]

They don’t seem to grasp that the lack of value of the asset is what exposed SBF. If the asset had actual value there wouldn’t have been a run of the bank to tank its value the minute it was shown that basically the entire value was through tokens. Yes the primary issue was theft but it’s fascinating how it doesn’t bother them that the value of the token and the reason they had no time to recover any of their positions due to the speed of the collapse was because once it came time to actually trust run the value of token as the standalone asset backing the value of the enterprise the majority of everyone invested panicked and ran the exchange. The operation would’ve eventually fallen because of the theft but if there had been belief in the value of the tokens it wouldn’t have crashed immediately like it did

[@alan_davis]

Exactly this.

[@Lioin]

@@Matt-cr4vv This is it, but it's also rampant in the crypto community. There is zero value being created, which means that if you're into crypto you're either a scammer or a sucker.

[@vvolfflovv]

Sep 16, 2022 #CNBC... He’s one of the most powerful people in the young but fast-growing crypto industry. Bankman-Fried, who has been touted by some as the next Warren Buffett, still drives his Toyota Corolla, and he tells CNBC that he plans to give 99% of his fortune away to charity. CNBC’s Kate Rooney travels to FTX headquarters in the Bahamas for an in-depth interview. 1 year later...

[@starcrib]

Hahahahahahah...sure. 🦖☄️

[@vvolfflovv]

So what's CNBC's advice a year later... Sell your bankruptcy claims now so you can invest what you have left in more Fugazzis and not miss out on being the next Warren Buffet :D@@starcrib

[@donnacosta5633]

... one year later, smart folks are investing in Cabbage Coin. It's totally secure because it's backed by real cabbages: 1 coin = 1 cabbage.

[@aaronee2752]

This world is illusion. News medias controlled by somebodies that control the world

[@shinyshinythings]

As she said, it didn’t age well.

[@JosephReynolds522]

We are currently in the jaws of the worst bear markets I have seen, the average stock has been cut in half, and the only way to make money this year has been to either short or to trade long in very short time frames. I'm still at a crossroads deciding if to liquidate my dipping $117k stock portfolio, what’s the best way to take advantage of this bear market?

[@WilliamHarwoodx]

Focus on two key objectives. First, stay protected by learning when to sell stocks to cut losses and capture profits. Second, prepare to profit when the market turns around.I recommend you seek the guidance a broker or financial advisor.

[@ElizabethGalvin1]

The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a portfolio-coach seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive analysis, it's quite impossible not to outperform. Netted over $550k in return on investment, since using a coach for about 2years.

[@JohnMoore1641]

@@ElizabethGalvin1 Do yo mind if I ask you recommend this particular coach you use their service? I have trouble knowing when to buy or sell.

[@ElizabethGalvin1]

Sure, the investment-advisor that guides me is Laura Marie Ray , she popular and has quite a following, so it shouldn't be a hassle to find her, just search her

[@EllaBurke_]

Thanks, I merely looked her up on Google and was highly impressed by her credentials; I got in touch with her because I need all the help I can get. I just set up a phone call.

[@nigelw598]

For newbies, the best advice I can give is only invest what you are prepared to lose. All markets are manipulated in some form or another. Some for the better, some not so. In the words of Albert Einstein “Three great forces rule the world: stupidity, fear and greed" Great efforts on the story Kate, all the very best. Cheers

[@Give-a-foot]

That face, that voice, that hair! How could he fail? You all deserve each other.

[@philipdepalma4672]

As an accountant, people in the finance department should have been doing/reviewing the bank recs/investments and financials on a monthly basis and the CFO should have been signing off on them. The auditors should have detected this when doing the annual audit. Of course, just like Madoff and Enron before that, when people want to steal they will find employees and auditors willing to help.

[@Igor_054]

There were no auditors, nor an accounting department. His whole scheme was light years away from the sofistication of Enron.

[@willmichael4033]

FTX didn't have accountants, a finance department, or a CFO

[@philipdepalma4672]

@@willmichael4033 then they shouldn’t have been in business and/or taking peoples money.

[@ian_b]

@@willmichael4033Which is pretty amazing looking back on how long they got away with it.

[@ian_b]

Accountants? Finance Department? They don't seem to have even had a stack of IOUs on a spike!

[@jamesnavas8272]

Larry David's old Superbowl commercial aged well 😂

[@MrReymoclif714]

I remember that vividly!

[@GlobalPenguin2012]

It’s greed that makes one lose money….. you won’t see Warren Buffett or Charlie Munger losing a dime on crypto

[@Lewdacris916]

thats not always true, not everyone in crypto is greedy

[@ThisHandleFeatureIsStupid]

@@Lewdacris916 But they're all dumb. If they weren't, they'd be doing something else.

[@cbprincess5]

He was not really greedy he did zero security management and those around him took advantage of that He is like a child They froze everything so he could not get payments in or out or study further what went so wrong A set up a frame up

[@ellenbryn]

I cannot BELIEVE that customer who lost so much, sold his bankruptcy for 11 cents on the dollar to a third party who will now try to get his money back, and he's going to go right back to crypto. It's times like this I want to tell these poor guys that the old methods still work, though you need patience - buy low, sell high, diversify - but I'd have to share my own track record, and some rando on the internet could be making it all up anyway. But seriously. I have been investing since the 80s, and done quite well, and despite being moderately aggressive (I had a good run on media & telecomms in the 80s and 90s and bailed out just before the bubble burst) I am still not convinced crypto is much sounder than tulip bulbs. And THEY were at least physical, and there was some rational behind them- they thrived and multiplied during a cold century ehrn many plants were duting. Now I'm going to get off this rectangle and get back to my non fungible oil painting which not ape artist or AI can duplicate.

[@whoisthispianist194]

He was 40 pounds overweight, his leg was shaking due to an illicit drug problem, and he was constantly lying. Who would have thought the guy was out of control and a fraud? Also, it seems people invested much more than they were prepared to lose. Why? Greed.

[@tomsanders5584]

That was the first thing I noticed about SBF, his shaking leg, which told me he was a tweaker. That and dressing like Beavis & Butthead and Olive Oil for a girlfriend....hey, what could go wrong?!

[@SpiritusMundi3]

Noticed the twitching, shaking leg and evasive eye movement especially when asked about the relationship between FTX and Alameda, didn’t suspect drugs but I’d definitely suspect something is off with this chap. I guess when you’re greedy and want to believe the narrative of a quirky geek

[@spud2063]

to be fair i shake my leg similarily when im out of my comfort zone which he would of been, it has nothing to do with drugs and is more a symptom of aspergus.

[@whoisthispianist194]

@@spud2063 sorry if I offended you. In his case it was drugs though…

[@daoiism]

I shake my leg all the time, even in my comfort zone. Omg don’t tell my mom I do drugs and lie all the time.

[@7_of_9]

The first interview I watched got me looking into FTX and the first question I asked myself was How do they make money? Obviously I knew right away that it was a scam.

[@cgonzalezcon]

Another important point is the involvement of SBF parent's in all of this, especially their advice on setting all up with their legal expertise

[@dickburt69]

And all of the support that the Jewish community provides. Endless financial, professional and networking advice.

[@alr9967]

Do more research on the parents and the house they were “gifted”

[@cgonzalezcon]

​@@davesmith3023 Of course, but given their level of expertise in law and tax, their close relationship with their son, the house they were given, the dad wanting to be in a ad with Larry David, the lawyer they recommended for the firm. I'm not saying the're guilty, just that their involvement must be investigated as well.

[@keilmillerjr9701]

@@davesmith3023 and Joe Biden had no idea of Hunter's overseas business dealings... right.... Same concept, different people. SBF worked for the Democrat Party through his mom and her organization. Even left wing propaganda site Wikipedia says it.

[@toxikwastedump]

i feel proud being the only person who never found SBF to be intelligent, credible, or trustworthy and even told friends in crypto not to use FTX, although they did and now lost a lot of money. FTX was always too good to be true but most people are insanely greedy and just saw the promise of fast money and high leverage ignoring all risks.

[@mwhappy24]

Including his own parents

[@soshieopath7142]

I saw the fact that he gave millions of dollars to the Biden campaign as a huge red flag… I was right. I’m glad I stayed away.

[@TattsAndScars]

The "ONLY" person huh!!! Interesting.

[@MrSIDEKICKER5]

Cz is also a scammer

[@heckingbamboozled8097]

@@MrSIDEKICKER5 At least his exchange is actually functional. Again though, Cz did NOT cause the Alameda collapse. What caused the pull-out was the fact that official FTX books got sent to one of their investors, and despite being HEAVILY altered it still looked really, really bad. They couldn't make good on a $400 million dollar loan and paid the price

[@johnpersechini4951]

Should have listened to Larry. He’s never wrong about these things.

[@dubcindub15]

The guy who lost 60% of his portfolio and accepted 6% of it back to reinvest in crypto will have a shocked Pikachu face when he loses it again the next time.

[@xuldevelopers]

The guy asking Sam at 37:50 if he was trying to do good - these people are not smart. They see the answers all around them, yet they refuse to believe their own eyes and want others to tell them. Those people are vulnerable and should not invest, as they cannot evaluate risks.

[@WallStreetBruh]

I thought timestamps might be useful, so have fun: 00:30 📈 SBF's rise led to FTX's $8.9B loss. 01:26 💔 Trust in FTX resulted in major losses. 03:29 💼 FTX grew to a massive exchange. 08:00 🚩 FTT misuse triggered FTX's downfall. 11:52 📉 Binance's tweet caused FTX's collapse. 23:21 💰 Some insiders believed FTX was profitable. 25:46 🛬 SBF faced charges; associates pleaded guilty. 27:43 📉 Caroline admitted fund misuse at Alameda. 30:11 💸 Only Japan customers withdrew funds. 35:54 🤔 Some still trust crypto, blame SBF, not the industry.

[@Heyu7her3]

😅 the emojis are a 🤌🏽 touch

[@FinanceVector]

Thank you!

[@bryanbell9103]

13:31 😳 The Mooch sporting his off road elevator shoes.

[@shahidhamid962]

👊👊👊👊👊👊👊👊👊👊👊

[@mamunabdullah1831]

😊😊😊😊😊

[@kashmirwillwin3124]

"His answers seemed plausible" The answer: *Sam starts having seizures*

[@Juliorios-z2d]

The big problem is that they used customers money to buy their properties instead of actually buying crypto for their customers. He will go to jail for 25 years at least.

[@NoScammers215]

He's getting life just like Madoff. All is lies and fraud came out during the tria.

[@fuzzypanda1684]

I never understood how people gave SBF so much credit. Putting him on the covers of magazines, having stadiums with the FTX name on it etc. I've been in the crypto space since 2013/14 and after seeing just a few interviews and interactions with SBF I was like, does no one else see how obvious it is that this guy and this company are a complete sham? People treated him and his penchant for playing League of Legends during investor calls like it put him on par with Steve Jobs. To me, it was clearly fake and hallow. Although I will admit, there was a period of time where I though I might have been wrong, especially after credible institutions started investing sizable amounts into it and nothing was collapsing. But in the end, intuition won. Intuition always wins. Never forget that, listen to your gut.

[@KaliAndy2]

Stuff like stadium names companies pay money to have a right to put their name on. It's basically paid for advertising

[@765kvline]

"I never understood how people gave SBF so much credit." Same mantra heard about ENRON, HealthSouth, WorldCom, Tyco, Madoff and others. Jeffrey Skilling is out of jail after his ENRON sentencing and prison sentence and people are investing in his new company. Same story over and over again. Would you invest with a criminal and ex-con?

[@MatteoPrezioso]

You are so right.

[@georgehollingsworth2428]

The real question is 5how any rational person would invest in crypto at all.

[@fuzzypanda1684]

@@georgehollingsworth2428 How about the people who bought BTC prior to 2013 or ETH prior to 2017? They might not be rational, but they are millionaires.

[@cameron00148]

On one hand folks want the government to stay out of their financial business, but on the other hand, these same folks were screaming/hollering that there should be a crypto-equivalence of the FDIC. On a different note, my heart really goes out to the folks who weren't greedy and just wanted a few extra dollars in their pocket and likely viewed crypto as something promising for a possible miracle. Despite watching tons of crypto explanation videos, I still don't understand anything related to crypto and how it works - I also didn't have money to invest in it anyways lmao

[@Matt-cr4vv]

The forever issue with regulation of anything. The existence of regulation stems from prior problems that indicate there needing to be regulation to protect consumers. People love the Wild West of no oversight for the time that things are going well but then get upset about the lack of oversight once the Wild West bites them. The Wild West is attractive when things thrive and people earn huge returns. It’s only once a fraud is exposed that was able to exist due to the lack of oversight that could have stepped in earlier in the process and mitigated the damage that people suddenly want that oversight to exist. But the very sales pitch of cryptocurrencies as a market is the lack of any centralized authority residing over the currencies. But that perceived freedom of the market comes with the trade off of risk that fraud can more easily exist and very well may occur without there being any protective body to catch a fraud. Have to pick your poison in a sense. Government oversight may feel like a burden but it’s the cost of having a defense in place

[@mkhanman12345]

They just was basic protections. Bottom line is you should be able to get your money back and ftx didn’t have it and couldn’t give it to them.

[@angeliqueoren2462]

The basics of Investing 101 will save you every single time. Never put all your eggs in one basket. Massive diversity of investment! Dollar cost averaging! Start very early in life and invest often over a long time.

[@samduong8889]

No, you shouldn't feel sorry for folks that invested in crypto or high risk tradings lol. Its a business or more like a gamble. They know what they are doing, maybe not, or just way too greedy. Especially those that invest their whole saving into it, pure stupidity. Plus, the company wasn't even public to disclose any of type finacial reports. The old one always said " Greed make you blind ".

[@aarondavis8943]

Greed is part of it. Having a million dollars and putting it all in a high risk venture is risky by definition. I believe these people understood that FTX is not comparable to a savings deposit.

[@DC-xg6gt]

Hard to feel sorry about those who willingly put money in this guy. Look at the guy who admit this this not his first crypto loss/bankruptcy.

[@rebeccanater]

The employee saying he wouldnt question his boss is part of the problem. He def knew what was going on, but didnt care as long as he still collected a paycheck. Ive questioned the accounting at every company ive worked for. There are always errors. Not as big as this, but ppl key invoices wrong all the time. It is your job as an employee to double check each others work.

[@henrikibjensen3869]

Of 3.000 comments, I love yrs

[@KaiHuang-qo6tj]

SBF's grift only shocked people who were greedy enough to throw money at him, believing they will get rich quick. SBF wasn't even charismatic, he was not making a profit, please name a few investors who actually made a profit. His parents are in on it as they still hold FTX money.

[@Lewdacris916]

Lot of people commenting that dont understand crypto, not all of the customers on his exchange were trying to "get rich quick," they were just storing their coins on what they thought was a safe place. They had no idea that he was leverage gambling their money and lost 9 BIL, sure some people in crypto are just going for short term gains but a vast majority are holding because they believe in its intrinsic value

[@alan_davis]

​@@Lewdacris916"storing their coins"

[@KaiHuang-qo6tj]

@@Lewdacris916 because of this unfounded belief, how many people got burned. As far as I'm aware, Bitcoin is the ONLY crypto not to be a scam. How many cryptos have crashed and burned in the last 5 years? Furthermore, we've seen reports of people digging through landfills for their old PCs because it holds their Bitcoin wallet details. People unable to access wallets because of forgotten passwords. An untimely death of a CEO causing the collapse of a company because the assets are in Bitcoin and the only the CEO had the password. It's a sh!t show. On top of this, Bitcoin farms are using so much electricity that it is actually costing a fortune just to mine. Contributing significantly to global warming and pollution. What intrinsic value are you bleating on about??? The creator of Bitcoin was wise to remain anonymous. In fact, Bitcoin is most useful for criminal transactions to avoid scrutiny from LEOs.

[@Catmom-gl5nt]

The fact that the victims are still touting crypto significantly lessens my empathy. They haven’t learned anything and they seem convinced a different emperor will actually have new clothes. Crypto is based on nothing, currency is based on the solvency of a nation. Nation’s collapse, but if that occurs with the big currencies, the world would be plunged into such an economic turmoil, investments would be the last concern.

[@kennethwers]

Crypto relies on new money. If they lose faith crypto collapse's.

[@ThomasMoore-q3s]

I’ve had majority of my holdings in tech stocks and irrespective of market changes, I’ve done pretty well especially with apple’s P/E(price to earnings ratio) gaining over 30% this past decade, now my questions is what stocks do you think will be the next apple in terms of growth for the next decade.

[@RichardHoyt-r1l]

I concur; based on my own interactions with investment advisors Lisa Ann Moberly, I now have $675k invested in a diverse portfolio that is expected to increase exponentially. Since Apple has outperformed the others in the tech stock market, it might be challenging to locate the next Apple there. You might want to consider investing in other equities.

[@AlinaLopez-vz9qp]

I've come across several positive endorsements of Lisa Ann Moberly on various platforms, including KZbin channels, seminars, and more.

[@CarlJackson-r1d]

Thanks for sharing, I just looked her up online and I would say she really does have an impressive background on investing

[@unatrader108]

"I don't give a sh%t about legacy, I care about impact" is all you needed to hear....

[@AmariHolt]

to many scams here , what's the best bitcoin way to invest your bitcoins and gain Good returns

[@Kevin76234]

well you should a bitcoin cloud mining service

[@PaulParker-zy1lu]

Kevin, i was gonna say that too , using the a cloud mining service has changed my life , making 15grand monthly

[@dannychin319]

i am a newbie too looking for ways to invest my bitcoins , are you saying that cloud mining service right now is the best?

[@PaulParker-zy1lu]

yes right now because of the booming market cloud mining on crypto has been booming

[@dannychin319]

pual can i ask what cloud Bitcoin services you using to make $15k monthly, I am very interested.

[@JenPurple2022]

I remember a saying: If your neighbors all start making money from doing the same new thing, stay far away from it.

[@mikemmikem2758]

I will not shed a tear for those who lost money in FTX because the investors main motive was nothing more than greed.

[@aidiogoserra1835]

It's all fine, he drives a Corolla

[@Gurci28]

In early 2022, investors valued FTX and its U.S. operations at a combined $40 billion.

[@Gurci28]

Despite speculation, there is no official diagnosis of autism for Sam Bankman-Fried. 0:07 [Discovery ABA]

[@Gurci28]

Samuel Benjamin Bankman-Fried, also known as SBF, is an American entrepreneur who founded the FTX cryptocurrency exchange.

[@Gurci28]

Bitcoin gets all the headlines when people talk about cryptocurrencies, but there are literally thousands of other options when it comes to these digital currencies. In fact, cryptos that aren’t Bitcoin are usually considered an “also ran” - what are called “altcoins,” or alternatives to Bitcoin. [Yahoo! Finance]

[@Gurci28]

Crypto is still a relatively new and burgeoning industry. 0:17

[@zakmckenzie1475]

Always make me suspicious when billionaires talk about giving to charities, it's usually not what it seems

[@royed31]

I have zero sympathy for those who lost on FTX or any other exchange. Everybody has a right to be stupid, but some people abuse the privilege.

[@702cesar]

Who hurt you?

[@thomasdeclerck-d3j]

@@702cesar hes right lol , leaving your coins on a platform is extremy stupid

[@georgie6060]

Greed

[@KaliAndy2]

@user-gf5si9wd8r for active traders, especially day traders putting coins in private wallet is simply not an option. One shouldn't have to worry about exchange going belly up

[@bartsullivan4866]

should be put on a bumper sticker and patent that sucker great quote.

[@RAMIRELLI-Art]

he gave a 6-million-dollar apartment to that employee, his x g/f? that should have been a big bloody red flag.

[@MrReymoclif714]

She got 2 years.

[@ace514ify]

Something that does not make sense is the investor saying they checked out their financials and found no red flags before investing millions. That is directly disputed by the fact that the guy appointed to be CEO after the collapse to find the money reported a company basically having no record keeping and having several red flags. It seems like the investors ignored the red flags or simply didn’t do their due diligence because they were greedy to get in and find “the next Facebook”

[@washedupwarvet2027]

No, he was talking about the possible buyout at the end

[@dymhomes]

My thoughts exactly 😂 | They’re greedy risk takers

[@fzaan5]

if FTX was a bank, no one would prosecute. Banks play with money all the time. its how the buisness works

[@marilynnschroeder4436]

First the ex CEO says they were committing old fashioned fraud, then he says he had no clue what was going on over there. What does a CEO do? If he doesn’t know, then who would know?

[@jesseberdowski3148]

CEO that came in after sbf that is

[@adamoskyjonathon1132]

I checked the Ftx platform while I had 5 other exchanges I used. After looking at the website and seeing how bad the site itself was I sent Bitcoin to a different exchange with higher fees avoiding this garbage! My first viewing of SBF interview with him taking about still driving a honda and was thinking what a BS is this guy trying to sell everyone.

[@zacharythomas8617]

Listening to him speak for the first time i have to ask: who was dumb enough to trust this kid with their money?

[@mikafiltenborg7572]

Money-greed people with no 🧠 😂😂😂😂

[@stevejeffrey11]

cons or scams always have a front man

[@sydnet851]

just based on his body lanuage alone its unfathomable that so many so called "money experts" trusted him and gave him their money, he never, not once could hold his eye to the person or camera for longer than a second, while his leg never stopped shaking

[@hothotheat3000]

They’d say “oh no, he’s just autistic!”

[@Group_Anonymous]

thats the point@@hothotheat3000

[@Group_Anonymous]

Sam Bankman-Fried was diagnosed with autism at a young age. Autism, a neurological condition, affects individuals in various ways, often influencing social interactions and communication skills. Growing up with autism presented challenges for Sam, but it also shaped his perspective on the world, fostering his unique way of thinking and problem-solving.

[@chucknorris277]

​​@@Group_Anonymousunique way of scamming.... my brother acted the same way. He was deprived of oxygen at birth. Now he is a head. Edit meth

[@bloodthirstyworks]

His leg shaking has nothing to do with anything. I have the same habit too and it doesnt mean im lying or nervous. You cant judge these tech guys based on social skills or behaviour. Look at Zuckerberg... Almost zero social skills outside his company offices... Doesnt mean he is a fraud.

[@weeraanmelden]

Never put ALL your money in any “investment”! Only some you are willing to loose.

[@Nighthawk30722]

What would you put your money in? Banks? Banks are risky as hell. They literally all failed in 2008. The Central Bank had to print trillions to bail them out.

[@alan_davis]

​@@Nighthawk30722just diversify across different investments. One (say 10%) can even be crypto if you're a gambler/idiot.

[@MichaelLogan-gg6uk]

Hey guys I'm looking to invest. But I don't know anything about the market, any help? As well who can I reach out to?

[@JodiBronson-cu9xl]

I would advise you seek professional assistance because creating a strong financial portfolio is more difficult if you have no experience.

[@KarolinaLeon-od5kp]

Making touch with financial advisors like Margaret Burwell who can assist you restructure your portfolio would be a very creative option.

[@Jasonduryea]

I agree with you! With her help, I diversified my 25k portfolio among different markets during this bearish market period.

[@Jill.hochstein]

She's extremely knowledgeable about the market and has made a lot of profitable trades.

[@dr.bernardgerhard4003]

Please could someone kindly leave the details of this investment analyst here?

[@Cryptokelly53611]

The whole SBF saga embarrassed a lot of important people and showed how little people understand about crypto. Centralized exchanges are always going to have their own interests in mind, and that's why Defi exists in the first place.

[@wa210]

Actually showed the world how dumb so many "sophisticated" money gurus are .

[@yeskaitlyn8029]

yup mr wonderful included

[@dropcity]

All these so called investors are all liars. Anyone with the means to invest millions of dollars knows enough to know when an investment is suspicious. They just hoped they could profit off of the fraud and then get out before it went bust.

[@MonkeyPoida]

I can never tell if The Mooch is played by an actor. Is he real?

[@wynton921]

Yes, he is. That’s Samuel L. Jackson.

[@Tom_murray89]

What a great documentary

[@jawadali4466]

The culprits are also the media organisations like CNBC. They were inviting SBF regularly on shows, giving him legitimacy. Imagine how many people would have bought into FTX just by seeing SBF on CNBC. But, not even an apology from them.

[@mtx1212]

Imagine trusting a teenager selling intangible internet tokens as "equities" 😂😂😂

[@TrangLe-yb5sy]

I've watched a few documentaries about FTX and this one is the best so far, particularly amused that the Japanese investors could get the money and the US investor who sold his original investments for litigation plays to re-invest in another crypto. Wow! 😂

[@DrCielo1]

😅TV ñka6 18:40 k😅aak7

[@dalyand5944]

It's almost like strict government regulation is a good thing?

[@FireCrack83]

yeah cause it is!@@dalyand5944

[@AdamLogan-hu8id]

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear that you saved me from huge financial debt with just a small Investment, thank you Amelia Lane Eaton you're such a life saver.

[@HilsonTobias1]

I am grateful to her as well though I started with as low as $1,500 actually because it was my first time and it was successful, she’s a great personality in the state

[@TheresaWhitley-ds1bl]

That woman has changed my life for good. I attended her investment class couple of weeks last year and she’s the best when it comes for Guidance.

[@HoseaChanchez-]

please how can I reach her? i really need to get involved.

[@JamesKaylee-du9js]

That woman totally changed my life for good. I have come across individuals but none is as honest as Amelia Lane. So surprised you know her too.

[@SuparatMontri]

I was skeptical at first till I decided to try. It's huge returns is awesome. I can't say much

[@misaelinocente7465]

No matter the knowledge or experience you have, emotions (fear and greed) still play a role in our decisions.

[@seapickles7754]

👏👏👏

[@CompetitionSportsNetwork]

Speak for yourself, some of us make smart decisions because we leave emotions out of it. Go read Ben Grahams book, "The Intelligent Investor". It specifically talks about emotions and how they cause you to make poor decisions.

[@costafilh0]

This shows how easy it is to manipulate people and public perception with money and aligned interests.

[@MikeCummings-p7e]

Great doc. Well done. His parents will be in court right behind him.

[@byoken]

Their whole tribe will be in court right behind him.

[@user-dy9bm7sk7n]

The marketing alone was a scam, if it seems too good to be true then it is, a very old saying that has been proven over time.

[@FBAagent]

I love how people still trust him even after all this XD people are so polite

[@GodfreyWilberg]

Thanks for this news and offering your insight on how to navigate during unfortunate times/events like this. I think the stock and crypto market will go sideways or down just slightly over the next 6 months. I'm hopeful there won't be anymore interest rate increases. We probably could have avoided a lot of the inflation that has occurred over that time. It may have even been "transient" inflation as many were calling it back then. Early/mid 2024, interest rates should start dropping and the stock market will head to the moon. when news gets bearish start buying. "Keep it simple" that bear/ correction was the best thing that happened me.

[@Demetrius655]

Simple step-by-step process, excellent communication and response times. The service was extremely streamlined and friendly throughout. Would recommend them to anyone give him a reply

[@Kellyhyunn]

His Strategy minimizes risk and maximizes profits. Trading with him has been incredible throughout the last few months, and I would recommend his strategy to any one..

[@robinsonwalker1948]

What's his Telegram Asking ?

[@GodfreyWilberg]

kuciajacob

[@robinsonwalker1948]

Thanks for dropping this information, I just sent him a detailed message on tele

[@taicronck9559]

It is incredible that in this great country has no one figure it out yet how to stop this behavior How low do we need to get?

[@analienfromouterspace]

You kidding right, for them, money is like sniffing a line of coke. Buyers be aware!

[@mrvivalatang]

SBF is a fraud and a liar and a scammer. Send him to jail for life.

[@archivey-h8e]

i think other countries have done something about people who wear small hats.

[@danrook5757]

It’s all fun and games until the dinner bill gets placed on the table

[@ian_b]

FTX is an interesting demonstration of why the hopes of an independent, decentralised and individualised system cannot last. As soon as it gets big, middle men will pop up to handle trading and make life easier for users. Those middle men will then be holding the assets, not the individuals, and all the pitfalls of old financial systems/banking re-emerge, like the middle man taking all their customers down with them when they lose too much and can't pay out.

[@FinanceVector]

I took a snapshot of your comment because I need to remind myself of your clear insight.

[@ian_b]

@@FinanceVector Thanks!

[@kimzziereenee1638]

FTX was a centralized exchange. Decentralization of finance can work--if it can be well regulated and stay truly decentralized.

[@petermwamba4968]

I have always been concerned about billable hours in consulting. Sometimes, slow work is deliberate to profit. If $8.9 billion is missing, how much of that money will go to customers if this case goes on for a year? $200 million in legal fees thus far is already a lot and it seems the legal guys will make loads from this

[@Matt-cr4vv]

That’s usually how it goes. The lawyers always get paid even if everybody else loses out.

[@ThisHandleFeatureIsStupid]

@@Matt-cr4vv In an efficient society, we would just flay this guy and be done with it... in a single afternoon! If the scientific method was as efficient as the legal system, we'd all be naked and living in caves.

[@segura9]

@@Matt-cr4vvwell of course, why should lawyers share losses with their clients?

[@alanpengo3335]

The lawyers are the real thieves , billing hours at crazy costs . They have a license to print cash

[@lo2740]

they are the legal scammers, that is why.

[@FizzleFX]

He donated next to nothing But he DID give all the money away in the end hahaha😂

[@Lewdacris916]

he donated 100 mil to the democratic party..................

[@ktktktktktktkt]

This'll probably sound bad but I don't feel bad for these investors. Don't invest more than you're willing to lose, especially in something such as crypto. They invested more than they were willing to lose. Moreover, it seems they didn't really understand crypto. They were investing in the hype. Why would you invest through an exchange when the whole point of it is decentralization. Putting it in an exchange is investing in decentralization and then centralizing it...

[@slconley]

What gave him credibility were his parents and their connections first. Without the parents backing him he wouldn’t have gotten this far.