The FTX Disaster is Deeper Than you Think

In this episode we take a deep dive into Sam Bankman-fried (SBF) and the FTX / Alameda situation.
Theranos: • Theranos - Silicon Val...
Enron: • Enron - The Biggest Fr...
Onecoin: • 'Fake Bitcoin' - How t...
Worldcom: • When Greed Goes Too Fa...
Luna: • How This Man Just Caus...
Closing Track: • Burn Water - Adomania
-- About ColdFusion --
ColdFusion is an Australian based online media company independently run by Dagogo Altraide since 2009. Topics cover anything in science, technology, history and business in a calm and relaxed environment.
» ColdFusion Discord: / discord
» Twitter | @ColdFusion_TV
» Instagram | coldfusiontv
» Facebook | / coldfusioncollective
»PODCAST: / @throughtheweb
//Soundtrack//
Burn Water - Take Flight (Bon Iver Flip)
Giyo - Are the Animals Gone
The-light-feat-kingpinguin-zachary-david
frames - IN VIA - 04 Calm Wisdom
Cahb - Secrets
Deccies - Subtle
David Keno - Golden Ticket
In the Waiting - Johannes Bornlof
Female - Grvty
Universal - Matt Fax
Gem Club - First Weeks
Passage of Time
Mogwai - golden_porsche
Burn Water - Adomania
Sources:
www.gawker.com/money/are-thes...
www.afr.com/technology/ftx-ha...
www.coindesk.com/policy/2022/...
www.visualcapitalist.com/bigg...
fortune.com/2022/11/09/sam-ba...
www.smh.com.au/business/entre...
www.milkroad.com/p/binance-vs...
techcrunch.com/2022/11/09/seq...
techcrunch.com/2022/11/14/sof...
www.axios.com/2022/11/12/ftx-...
www.wsj.com/livecoverage/stoc...
decrypt.co/76584/ftx-ceo-sam-...
www.coindesk.com/layer2/2022/...
www.coindesk.com/layer2/2022/...
cryptoslate.com/ftx-hacker-is...
www.milkroad.com/p/goes-sbf
fourweekmba.com/how-does-ftx-...
coinmarketcap.com/alexandria/...
www.reuters.com/technology/ex...
www.reuters.com/technology/ex...
www.nbcnews.com/news/epic-fal...
www.bbc.com/news/technology-6...
AutismCapital/sta...
www.forbes.com/sites/davidjea...
www.bbc.com/news/technology-6...
www.nbcnews.com/news/epic-fal...
www.zerohedge.com/markets/ftx...
coinmarketcap.com/alexandria/...
fortune.com/2022/11/13/sam-ba...
jewishinsider.com/2021/07/the...
www.msn.com/en-us/money/marke...
www.forbes.com/sites/davidjea...
Producer: Dagogo Altraide

[@TT-rt9vv]

Guaranteed this whole story will be made into a movie one day.

[@taz997]

Michael Lewis, the Moneyball writer, is already writing it and shopping the movie rights.

[@FlyingcupNsourcer]

With someone like Jonah Hill as Sam

[@lot2196]

Not if it makes democrats look bad.

[@jmpcrx]

I expect they're already on it..

[@natel7382]

The dude who did the big short was following him doing something on him when this whole thing came out. Lol So yea FORSURE!

[@Eudaletism]

Michael Lewis, the guy who wrote The Big Short, was _already_ planning to write about Sam Bankman-Fried, and _already_ shadowing him, even _before_ the collapse. He was deeply embedded in it all and got a front row seat to the entire thing. He's now writing the book and there will be a movie. The world moves so fast now.

[@heehee1232]

it’s cool to think that tbh this video could be seen by him as part of his research for the book 😗

[@itisdone9276]

Not much to write there. The currencies we already know (US$, €, ¥...) mostly (90%) aren't backed by products nor services...so how could new currencies be that are being bought with these old currencies?

[@mattmetzger2551]

From what I’ve heard, the book was sucking him off, so he may need to revise a few chapters

[@grandcrowdadforde6127]

@@itisdone9276 >>> so Sam does what all currency/fiat creaters do......how come THEY get away with it? && he doesn"t ??

[@dg8062]

Yeah, we know. They explained that at the beginning, remember?

[@sexyasstattoos]

Imagine hearing Caroline talk about using mostly elementary level math and seeing Sam on the phone with a bank asking for $210,000,000 while hes playing league of legends and still trusting them with your money

[@keikosan1354]

You couldn't wish yourself a more disturbing girl to handle the business

[@anotheryoutube4635]

The world of "upper echelon" is full of sociopaths and psychopaths. Just because they aren't committing the crime of murder doesn't mean they're not still getting the same ends out of what they're doing like all serial killers do.

[@keikosan1354]

@@anotheryoutube4635 At least they don't need to get the job done by themselves

[@TheDeepImpact965]

Well but crypto?

[@michaelbrinks8089]

I'm waiting for SBF to start a GoFundMe claiming he's gonna use the GFM donations to invest, so he can pay back everyone who lost money.

[@enigmadrath1780]

Everyone be like "Oh he so humble he drives a Corolla!" and yet no one stopped to consider for a second whether he maybe, JUST MAYBE, had more than one car and that this was just the one he drove to work for publicity. The fact they kept calling him humble and low key when the guy owned and lived on luxury properties in the Bahamas is insane 🤣

[@universallyadored5785]

Another example of how when the poor do it it’s trashy but when the rich do it’s classy 🙄

[@Dan-di9jd]

Perhaps people are a bit too gullible to realize that you're controlling what you put on social media. If you can do it, so can they.

[@Dan-di9jd]

@@universallyadored5785 it's like that movie 8 Mile when he gets made when he was pretending to be this poor gangster crook like everyone else but ends up being some dude from a private school whose parents are still married.

[@DL-fl5ul]

Wait did his mom really not take the last name of the husband? and he took both their names Bankman Fried? Lol, that'd be the most liberal thing I've ever heard hahahah

[@petergriffiinbirdistheword]

😂

[@olaghjgjutr]

your work on informative content about business and technology is by far the best I have seen in youtube. I been following you for a long time and watched many videos and all of them tell a story in a really well structured way being as compact and understandable as possible for the broader public. If you started this channel by yourself, you are destined for great things

[@parsahasselhoff7986]

I really take issue with calling these people "kids"; it helps take away responsibility from them. These are privileged and extremely well-educated adults in their late 20's and early 30's who should have known better.

[@Trazaftra]

Yes.. they did know better. They personally will not suffer any consequences.

[@yunan9610]

Well, with the scale of it, they can be called kids as in these people are way inexperienced and you shouldn't have trusted them. Not in the context you mentioned

[@rotor7726]

To me a term like "degenerate kids" reeks of envy - turning to vindictive joy at FTX's collapse.

[@nickyblue4866]

💯

[@olguiq1013]

@Parsa .... SOOOO AGREE!!!! Theirs parents should go down as well.

[@SmokeTheHolyChalice]

Dude, love the track! I am definitely a new fan who looks forward to perusing your discography in depth. Keep that music coming my friend as talent like yours should never lie idle for too long. Oh, and this video was very well done too. Stay Golden!

[@AstaKristjan]

Market declines, soaring inflation, a significant increase in interest rates by the Fed, and rising Treasury yields all point to additional losses for portfolios this quarter. How can I profit from the present market turbulence? I'm still debating whether to sell my $125,000 ETF/Growth Stock portfolio.

[@simonbad]

Concentrate on two main objectives. First, keep yourself safe by knowing when to sell stocks in order to limit losses and maximize gains. Second, get ready to benefit from market changes. I advise consulting a CFP or other professional for advice.

[@Erinmills98]

@@simonbad Yes, I have been in touch with a CFP ever since the outbreak. Today, investing in hot stocks is quite easy; the difficult part is deciding when to buy and sell. With an initial starting reserve of $80k, my adviser chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.

[@user-sb6po3yj7d]

@@Erinmills98 My 401k growth has been stagnant since the 2019. I wouldn't mind consulting the advisor who guides you, I really want to grow my retirement fund since I could retire in 3 years.

[@user-sb6po3yj7d]

@@Erinmills98 Thanks for the clue, I will reach out to her.

[@supersfm]

Craziest part is that this is potentially the biggest financial heist ever and isn’t getting covered by the media or getting very poor coverage.

[@tonycaniggia]

well you know that's because they all go to the same synagogue

[@gordeux1201]

@@tonycaniggia it's a "coincidence"

[@paulbonaventura4969]

Democrats un most of the media... the very large donations went to ... which party?? Oh yea, Democrat party... totally not a reason it wouldn't be covered by the media.

[@mimimimeow]

nah the biggest financial heist is still the Malaysian 1MDB. Funnily enough part of the heist was used to sponsor The Wolf of Wall Street.

[@mattsotos8315]

Because MSM is useless propaganda arm for Democrats. Independent journalism is the future.

[@TITOFROG1]

As a trained auditor, we learned that you should never entrust your hard earned money to a CEO or any Head of a company whose lifestyle is extravagant and lavish. Sam Bankman Fried lived in a $30 million mansion at the Bahamas and regularly partied with his friends and lovers. That's a dead giveaway to stay away from this guy and not to invest your money with him. Kudos and thanks for this informative video.

[@kaboomblueskies]

What a great name for a conman. Bankman Fried. In rhyming slang bankers means wankers and this guy fried everybody he came in contact with and left them with burnt offerings.

[@edgregory1]

Didn't he drive a Toyota Carolla to virtue signal?

[@binder946]

He portrayed frugal life style.

[@binder946]

He lived a relatively frugal life. The Bahamas was for side stepping regulation.

[@anenigma1986]

@@jameskresl there is a difference between 20 billion in crypto and 200 billion company stock with visible products.

[@hannahdonald9071]

The biggest lesson of the stock market is that no one can predict what will happen next, therefore be humble and use a long-term advantaged plan. Although ETFs are losing value and bond yields are rising, observers are still doubtful that the Federal Reserve will stick to its strategy to raise interest rates until inflation* is under control. What's the best method to profit from this bear booth while I'm still debating whether to liquidate my $357k stock portfolio?

[@tunnelvision3246]

@@tampabayrodeo2474 It took me 4 years to stop trying to predict whats about to happen in the market based on charts studying because you never know. Not having a mentor caused me 4 years of pain. Please, i need the help of your Investment advisor

[@trazzpalmer3199]

@@tampabayrodeo2474 I performed a search for her and set up a call.

[@JerseyJanet2024]

RENTAL REAL ESTATE.

[@hyperboreanmustache]

I love jews

[@puchu_5001]

​@@hyperboreanmustache kanye?

[@fernandoherranz4095]

Great vid. Your whole channel is so well researched and presented. Thanks for sharing! I definitely learned alot.

[@krazYFaic]

It's crazy how so many of these companies exist to basically just move money around and they call it adding "value"

[@jimmy2die]

Yup!!

[@chrismuratore4451]

Its basically all economics is. Moving money around.

[@jimmy2die]

@@chrismuratore4451 I disagree with that statement, if you say that's what finance companies have become then I'd be inclined to agree. Economics also involves construction, manufacturing etc. Tangible assess exist. People just don't want those cause return on investment is slow and not large

[@MrLukealbanese]

The UK is an entire country doing this!!

[@MrLukealbanese]

@@jimmy2die absolutely correct

[@honker3282]

Medieval alchemists convinced people that they could convert base metals into gold. Their modern counterparts are still at it.

[@jasonbourneistreadstone]

Exactly! The entire financial system is modern alchemy.

[@roboatnick6178]

To be fair, the original alchemists actually ended up discovering a lot about the fundamentals of chemistry and the properties of materials. They laid some of the foundations of the scientific method and all of modern science. Their modern counterparts? They produce nothing of value, not even by accident. (Well, other than a cautionary fable about the value of skepticism, I guess.)

[@bryanquijanesortega3221]

@@jasonbourneistreadstone No... money is time, nothing more nothing less. Money is the value you recibe for your time. Piramidal scams are not the steping stone of modern economy, time and knowledge are... but idiots who think they can get rich with little effort will never go extinct, and they are the ones that fuel these "businesses", despite many experts; Buffet, Cuban, Icahn, Gates among many others saying it was a scam. Many of them got in it, won and sold, and are laughing their asses thinking what a bunch of idiots the plebeians are. It is not modern economy, this has happened many times... credit crisis of 1772, The tulip mania, the 1929 crisis, .com, etc. Etc. Or buying a pixel from an ugly photo. Want to win money? observe the last "magic way" to become rich, get in early, sell when you double or triple your money and watch from afar, because the bubble will pop sooner than later, when the whales start selling. Didn't get rich... but crypto paid my vacations in europe, hope the fool that bought them in the end didn't lose to much money if he has a family, but sorry everyone warned him.

[@indrapratama7668]

ALL crypto is identical to Dutch Tulip Mania. Except this time the suckers will get nothing, not even a single worthless, useless tulip bulb.

[@jasonbourneistreadstone]

@@indrapratama7668 Absolutely! I just checked the price of BTC again. People said base support was 20k just a few weeks ago. It's now 16K. High was 65K just a couple years ago, or less. And it's still dropping. If you didn't sell at $60k, you're a greedy sod and deserve what you get.

[@gotze1772]

Found this channel yesterday and simply can't stop watching. So good

[@dawnfollett9215]

This was an excellent video. It helped me put some order into all of that FTX chaos. “Thank You!”

[@johntaylor1947]

Having politicly connected and legally savvy parents were a key factor in his ability to rise to the point he did. He needs to be in prison for the damage he has done to people's finances.

[@joanmarietsultrimparkin1821]

Oh yeah ..but we the real people know justice is totally blindfolded now...in 2021. There is no. Empathy for poor disenfranchised humans except to kill them. With boo weapons.

[@kli9005]

And so should those banks during the Great Recession but they did not. They were even allowed to keep their bonuses.

[@mohamedimardbrucelee8564]

Sounds similar to Gill Bates

[@olguiq1013]

WHAT EXACTLY does CRYPTO do/is???? These are questions I've asked myself over n over again...logic tells me stay away, quick rich scheme. I know, I know it's the future; Just can't see the horizon with Crypto. A real shame because they have real cute tokens.

[@Rig0r_M0rtis]

@@olguiq1013 crypto is a gamble. You buy crypto in hope you can sell it later for more.

[@tobiascleaver-ross2053]

You know when you’ve made it onto a ColdFusion documentary you are well and truly in trouble

[@valdomero738]

Nah, unlike with other frauds Bankman is Democrat Jewish mafia. He will not see a day in jail and actually will get the rights to a movie or a book deal.

[@HeavyMetalGamingHD]

oh he's in very very serious trouble. He is not just very deep into debts now, but also a lot of the stuff he did is straight up criminal. So i.e. he is poor and will be in prison soon.

[@me0101001000]

If you're on Cold Fusion, either you did something really good, or really bad. In this case, well, it depends on how you feel about Crypto.

[@Redley_Ex]

Facts!

[@paladro]

@@HeavyMetalGamingHD he's fooked

[@zulaturkiye6741]

Thank you for the update VRITKN300 is done right, and waiting is part of the process,

[@ATutube]

Scam

[@dorbie]

"The group of young misfits kept high level management in the dark" No, they were the high level management. Caroline was the CEO so saying they kept high level management in the dark is ridiculous.

[@Sat.]

Bro, you're ability to research and then pump out well-researched content in such a short time is unmatched. My latest documentary on Wall Street took about a month of research. I've been following the FTX situation and it's absolutely insane. Great video.

[@EnergyEgypt]

*your

[@buhleprince181]

@Sat i just subscribed to your channel bro

[@Sat.]

@@user-ds3ju2kx7s Thank you the kind words mean a lot.

[@Sat.]

@@EnergyEgypt Ah sheeiittt man you got me.

[@Sampsonoff]

For those of you interested in watching the scam world of crypto (which I saw a lot of this information posted on) check out the r/buttcoin subreddit.

[@sadexleraon6086]

Glad to see you doing well! Everyone seems to have forgotten about the past. Excellent VRITKN300

[@jaychung1380]

Sam shouldn’t be the only one going to jail. All his buddies went for plea deals and yet they’re just as culpable

[@savagecabbage1184]

Welcome to murrica, where the rich don't have laws or rules applied to them

[@sidstovell2177]

And then there's his parents.

[@financier7682]

Dudes invented their own exchanges, currencies, tied people’s real money to it, told everyone they shouldn’t be regulated cuz that’s the sense of this game and the whole world was just standing and watching this sandbox saying oooohhh look at them, so nice, kids are growing so fast… Like WTF?!

[@DanielSmedegaardBuus]

The whole world? 🤔 Nah.

[@wowthatsdeepman]

is this the story of the federal reserve?

[@Toefoo100]

once crypto is regulated it stops being useful. It should stay unregulated and dumb should lose their money. There is nothing really I love more than seeing coins tank and people crying about it.

[@jamesowens7176]

Right! I think Dagogo nailed it when he said the investors were drunk on the idea of making millions of dollars. You'd think those folks wouldn't be subject to gambling fever, but there it is!

[@alxfonso4924]

@@wowthatsdeepman yes it is. only difference is the fed reserve has the american tax payer system backing it. LOL but yes its the same premise

[@Miss_Cherry]

I'm 36 and this kind of thing has happened at least 6 times since I've been an adult. If it sounds too good to be true, it probably is.

[@jayhenry3146]

Once in a generation…

[@TheArrowedKnee]

It's funny how we're literally going through the exact same stuff as in the early days of finance, all over again. And yet people don't see the warning signs and keep falling for these pump-and-dump schemes.

[@sultanaljuhani1571]

Agree, but also this shit with FTX should not happened if they were sticking to the FTX service without fucking around with Alameda

[@sultanaljuhani1571]

We Work...comes to my mind and a bunch of crypto...what else Miss Cherry?

[@neilwilson5785]

The entire country of Albania was nerfed by a pyramid scheme. I remember that one. And the world economy was nerfed by the 2018 USA property scam.

[@zisun7483]

The title shud be : How this “Billionaire” stole 16 billions in one night

[@remka2000]

Great episode. The javascript in the background at 13:33 used to show “wow code” made me laugh though 😅

[@jessievelasco6074]

How could people fall for this man, he looks like the comic relief in a movie

[@Minotaur-ey2lg]

That’s why. Our society has the erroneous belief that geniuses always look disheveled or odd.

[@demolazer]

Same way they fell for Elizabeth Holmes.

[@jessievelasco6074]

@demolazer yeah but I feel like she played more on people's emotions making them think she's trying to take care of them, but come on we gotta think and understand that a machine the size of a printer can't analyze blood like state of the art real equipment.

[@MrIcaru5]

American

[@jeciel85]

His girlfriend isn't a beauty either.

[@butters1273]

I think I speak for everyone that we were dying for this episode. A miserable story done by the most slick channel on KZbin. Thanks CF.

[@Monkehrawrrr]

That Caroline chick is god damn hideous

[@jamiuabdulkareem]

Nothing but the truth

[@rakiytzakari]

Truth

[@benjamin3044]

I was literally dying hearing this "CEO" talk about sexual hierarchies.

[@Jacen777]

There's a lot more going on under the surface... This is an attack on ALL traditional crypto currency in general. This is about discrediting and destroying that market and replacing it with CBDCs (Central Bank Digital Currency). Big finance and all major governments believe CBDCs are the future because they can be monitored, tracked, manipulated and controlled. So they will use the FTX failure as an excuse to impose widespread regulations on ALL types of Crypto, to ultimately bring them closer to their desired goal of a Global CBDC economy that's under their complete control.

[@14rs2]

Who’s here after the guilty verdict?

[@IvyroseGullwhacker]

"On her Tumblr, Caroline would state that the only acceptable polyamorous relationship should be in the form of a hierarchy....and there should be vicious struggles between the higher ranks. I have no comment." 💀That absolutely SENT ME

[@Thelegend-op2bj]

She looked like a fucking goblin lmao

[@luckyuche]

One of the most epic statements in the entire video 🤣🤣🤣

[@erikschaepers]

In a word, it was not a company but a sect.

[@oahuhawaii2141]

Alameda Research CEO Caroline Ellison has no experience in leading or running a multi-billion dollar company. Rather than learn to do her job, she posts messages about taking amphetamines and enjoying a competitive hierarchical structure of females in a polyamorous relationship. So instead of growing into her role, she prepared to be the top female dog (b!) in prison. Now, she only has to tell her prison guards that speed makes her horny and they'll bring it to her. She's set for life!

[@NeroVingian40]

As the excerpt in the video says, it’s an “Imperial Chinese harem”.

[@frysebox1]

As an engineer, I always had trouble comprehending the fundamentals of high level finance/banking and crypto. It all seemed like a mess of redundant definitions and convoluted mathematical functions. Turns out there was little to comprehend as it's all wishy washy accounting tricks and old fashioned fraud, and most people involved at the top level understands nothing of what is going on at any given point in time. It's a shame and deeply unfair that the real economy of tangible production, which has to play by physical laws, is held hostage by all these financial Ponzi schemes which follow none.

[@gimpee8113]

you explain it well. I always think that i am the stupid one that don't understand cryto. I think they are like doctors using big medical term to confuse people, most of the time people don't ask because that make them look stupid.

[@clutchhutch9684]

As an engineer myself, I would have to agree with your statement

[@GauravSharma-gt2gp]

It is hard for honest people to believe how dishonest people can be and vice versa. Sooner or later people will realize everyone's brain is different and some people truly enjoy cheating others.

[@barrybolton1396]

Don't forget the politicians

[@iluvcamaros1912]

I half thought I was dumb, but also thought it had to be BS. And also, I'm 32 and sometimes feel genuine anxiety over something I did/said 10 years ago, yesterday, an hour ago (joke)... how do people just LIE LIE LIE with no remorse? I'm almost jealous.

[@jamiebiddleston-vk5ng]

They don’t keep high level management in the dark they was high level management 🤣🤣😂

[@tmac20031]

How could any professional business person take their "CEO" seriously at all. The moment she opened her mouth was a clear bad sign. It's insane.

[@silverbullet2008bb]

@@binder946 Only Jewish looking? The lot of them were echobergs! Every. Single. Time.

[@daporter8790]

@E Billionaire ... Cd: c4yt7 set Mark set launch 6

[@timsteinkamp2245]

Maybe that is what it was all about. And those glasses very sexy.

[@ZaphodOddly]

@e billionaire really dude 'jewish looking'? That's all it took?

[@jk9999999able]

i mean based on his last name its reasonable

[@davidtalbot6842]

One of the most important channels on KZbin, breaking down the corruption of the financial world as the complicit corporate media industry would never have you understand. Thank you for your work!!

[@staninjapan07]

may I add "...and political parties (plural)" please?

[@marcrodet4900]

This video is recycling the real work of the media, and leaves behind tons of important info. Besides, if this channel really exposed fraud or was not complicit as you claim, why has it not said anything before the scandal broke out and made global headlines???

[@davidtalbot6842]

@@marcrodet4900 Lmao point to a single corporate liberal media article that lays out SBF’s fraudulent conduct so comprehensively/clearly as this video, instead of nearly all that portray him as the “unlucky prodigy who was screwed by extenuating circumstances”-who given SBF’s extensive network of democrat stakeholders, I’m sure had motivation. And why would this channel only cover it now? Maybe because this channel’s focus isn’t crypto, and even within crypto a minority of citizen journalists were suspicious of FTX’s legitimacy before the story broke. Their fraud was protected behind closed doors until it was blown open for all to see, and honestly this channel did a fantastic job of piecing it all together in the short time they had. Go find a corner to cry in.

[@CroatiainPeru]

Yes, it's easy to be general after battle...

[@davidtalbot6842]

@@CroatiainPeru Even watchdog journalists within crypto lacked visibility to what was occurring behind closed doors at FTX, that this channel got caught up and delivered the most comprehensive coverage of the event within a week of the news breaking, despite other outlets still writing puff pieces about it, is significant.

[@oussamashow7092]

VRITKN300 is also kicking off and showing A LOT of potential. Don't Sleep on it

[@ATutube]

Scam

[@lionrock2023]

this is a story of extraordinary corruption at every level.

[@yurticikargo9697]

should you sell a little of VRITKN300 when you start to make a profit or just hold?

[@base21]

Sell

[@snorlax4021]

If you are seeking advise in youtubecomments you're better off selling everything and just work for your money.

[@vahlen5281]

​@@snorlax4021 It's a scam, those are most likely bot accounts.

[@worldbeststories]

As Warren Buffett once famously said: "Only when the tide goes out do you discover who's been swimming naked." The tide had just gone out.🤷‍♂

[@Matanumi]

That's..... a weird ass comparison

[@thatdude9091]

why would any sane person say that

[@spektred]

Warren Buffett actually made a lot of sense and its a perfectly valid comparison. Everyone thought that SBF was cryptos white knight, but unbeknownst to them he was borrowing from customer funds and he was so overleveraged that when CZ dumped all of his token, he couldn't even come up with enough money to cover liquidity on his exchange (FTX). He was forced to admit that he was broke.

[@dolphin069]

You think this is the only one? Tide has a lot further to recede on the crypto space.

[@damienhall9626]

Makes perfect fucking sense to me.

[@robdixson196]

It really is quite simple. Anyone who goes out of thier way to TELL you what a wonderful person they are is a horrible person.

[@pietropipparolo4329]

Thank you.

[@personincognito3989]

So true.

[@RidingWithBiden]

Like Trump or Elon?

[@robdixson196]

@@RidingWithBiden There are many. A sure bet is anyone who self describes as an empath.

[@Eleganttf2]

@@RidingWithBiden you mean Biden ?

[@ericsondavid]

*The Fed will acknowledge that they were late to the game, that inflation has been more persistent than they were expecting. So they probably should have tightened sooner, Some analysts believe that the larger banks are resilient and are more worried about the smaller and mid-sized banks. Well, I'm still at a crossroads deciding if to liquidate my $138k stock portfolio, what’s the best way to take advantage of this bear market?*

[@mrhoan1464]

Find stocks with market-beating yields and shares that at least keep pace with the market long term. For a successful long-term strategy you have to seek guidance from a broker or financial advisor.

[@nuraisyah9157]

please who is the expert guiding you? i have lost so much as a beginner🥺 investing into stock without a proper guidiance of an expert.

[@dougmatthews]

*" brendan warner marsh"* is the coach that guides me. he’s a verified coach and he helped me see that returns can be made in both bull and bear markets. he covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, lots of things like that.

[@nuraisyah9157]

@@dougmatthews Thanks for sharing this, I just make a Rsearch on googled about man you mentioned and after going through her resume, I can tell he's a pro. I wrote her and I'm waiting on her reply

[@davidgilbert2998]

@@dougmatthews can i borrow $40 I’m homeless

[@ecrinnas7370]

Whos in VRITKN300 Now that it is released I think we have a huge momentum 🚀

[@poppatoot]

I heard his interview yesterday. They asked him if he transferred assets illegally. He asked, "do you mean actual assets, or the balances showed in an account". As an old school Wharton accounting student, I nearly smashed my cell phone.

[@rosep8481]

Right?! And in another interview he spewed some crap about how he could not account for $$ investments from customers because tracking a dollar through so many transactions is impossible to do

[@Mrs_Canary]

Like a kavanaugh hearing. 🙄

[@PIANOSEEDS]

🤣🤣🤣🤣

[@poppatoot]

I thought blockchain technology was designed to prevent exactly what FTX did.

[@rosep8481]

@@poppatoot what FTX did was old school embezzling. I think it was possible because its an exchange so people sent FTX actual $$ for tokens. He didnt steal bitcoins from the blockchain. Instead he rerouted actual dollars from a bank account.

[@Thanxloveit]

Well explained, thank you. 💜

[@ndumisomtshali383]

I guess "believe nothing what you hear and hald of what you see" is valid here especially since sooo few people saw the fall coming.

[@ivanavila7708]

Dude, you are the man. This is better than CNBC or many of those financial channels on TV.

[@daarchdukefranzferdinand236]

all those channels do is lie and rig elections , rig wars and rig pandemics

[@90.5wfam8]

n n

[@janekholsten6270]

For sure! Would love to see this video on public media instead of the bullshit they are presenting :D

[@alainkrause2599]

@@90.5wfam8 0

[@rjt98]

This is the best breakdown i've seen. 1000x better than any MSM article.

[@TheRealCaptainFreedom]

I still don’t think this Aussie clown understands this stuff either.

[@winxclubstellamusa]

I agree! This sums up the entire story perfectly.

[@adampetten1009]

By long shot... I'd trust this video more than most (or all) MSM

[@NazriB]

Lies again? Remember The Name Gillette Fusion

[@Chris-rg6nm]

MSM doesn't have 30 minutes to discuss all of this

[@No_More_Pew_Pew]

As the old saying goes, those who fail to learn from history are doomed to repeat it. There will always be an Icarus attempting to fly too close to the sun on waxed wings.

[@briansim1648]

Great coverage!

[@TanakaTsikira]

I swear Softbank has refined & perfected the art of investing in companies that are going to fail.

[@benzpinto]

its quite unfortunate, they have not gone under themselves. we need less of these crazy mega vc firms ruining the world.

[@justsomeguy1074]

It's a miracle they have anything left after all the stupid "investments" they've made.

[@HiddenWen]

It's because Son got lucky and now we're beginning to see he's not as clever as he seems.

[@allell8852]

Masa is real time gambler

[@brandonwildhaber5027]

WONDERFUL CONTENT INDEED !!! I respect the work you do here mate because i tell you you're really pointing people in the right direction. Your video has been very engaging and well useful right from the beginning .These are tough times and well frankly I really appreciate how you discuss global finances in such a delicate way because you know business and investment are the best ways to make money even under the nose of the pandemic and any you know world problems going on.

[@wintersoilder5676]

Man your vids are so good I gotta rewatch 2:03

[@danielhebert6839]

It's worth noting that $23 billion in 2001 is worth over $38 billion today. Adjusted for inflation, FTX's losses still far exceed Enron's.

[@jasonbourneistreadstone]

Good analysis. It's just one scam after another, bubble after bubble. Bigger and bigger as they go as well. People never learn.. The financial industry is not to be trusted. Ever.

[@automotivexploration]

Mind blowing…

[@deadprivacy]

The democrats and ukrainian mafia thank them for their money. 10% for brandon!!!

[@bate01071]

I’m not doubting the mind blowing scale, but I’m wondering what part of that amount reflects the value of the crypto tokens FTT and Serum, or could essentially be treated as a wash between all the various related party entities. What a mess

[@nsaex583]

Enron and their cronies were way cooler than this nerd and his brothel tho 🤷🏻‍♂️

[@TheDarknight3x]

1. I think this was the first time I heard you say "I have no comment about that" and it was HILARIOUS! 2. Thanks for putting this video together (like your others). You have a great way of creating a story without all of the drama and one-sided attitude that we see in spaces like Twitter.

[@jamesdupuis3249]

So, if CF hadn't said that he had no comment, I wouldn't be curious but now I ask. Why? Why no comment? Now I want to know the thoughts.

[@thatwastheory3744]

I laughed too!

[@SS-uz6rv]

I laughed out loud when he said that 😂

[@PostWarKids]

That no comment line was LOUD

[@digantabarman3153]

I think its 4:31. He's not commenting maybe because its their personal life choice n has nothing to do with finance or he is completely disgusted by the idea of the statement tht doesn't wana entertain that further

[@Julius-zp7yt]

"cryptocurrency derivatives exchange", "high returns with no risk", "traded it's own token, FTT" This guy didn't run a hedge fund, he ran a red flag factory.

[@stjepanhauser7595]

Year-over-year inflation stood at 6.5% in December 2022-the lowest that figure has been in more than a year. Inflation was in line with what economists expected and gave many of them a reason to believe that the peak of inflation may be behind us. I have approximately $150k stagnant in my port_folio that needs growth. What is the best way to take advantage of this downturn?

[@charliegerike-roberts7352]

make like an egg and SCRAM bot

[@Sound_Tech]

Wtf am I reading? This bot conversation is almost incomprehensible

[@rhamlet5290]

If you are going to be in the market for over a decade, just buy index funds. It is the safest with left returns. If you want to just not lose money, government bonds. Real estate is usually safe, but that depends.

[@tyandambika]

Thanks for doing the work that our mass media should be doing.

[@prancer1803]

I’m starting to understand this story… and it’s the craziest thing I’ve ever heard

[@yulia2473]

Sadly mainstream media won't report it due to politics UNLESS the pressure against them is heavy..

[@ronp773]

Coinheads are the only ones who care. Those who are not involved could not care a less.

[@Spankdass]

The mass media is doing exactly what they are intended to do, smoke, mirrors and pit the working middle class against each other.

[@scottyb2117]

The mainstream media has been complicit and covering for FTX/Democrat Party - go figure.

[@JimmyN48]

SBF didn’t loose $16B, the people who invested with him lost.

[@trapbois9369]

So they both lost?

[@EXITLlFE]

No shit Sherlock. People lost it because he lost it. The story isnt about his personal bank account lmao. This went over your head

[@henrylam92]

People who trusted him and FTX lost their investment due to a false pretense and promises due to no regulations. He created an infinite money glitch thinking no one will catch on to it on top of heavily marketing and influencing in order to gain legitimacy. CZ from binance just exposed the shady business and won the battle

[@OldLion64]

@@henrylam92 FTX was regulated. All centralized exchanges are.

[@Xeniumnebula]

Not that Jew lost their money that's what happened 🤬

[@admiralbenbow5083]

Bank Man Fried ...Never has there been a more appropriate name in the circumstances.

[@pspsora]

this is such a great episode.

[@brianshorey]

He didn't lose his entire fortune. He lost everybody else's fortune. That money is somewhere, he squirreled it off.

[@homodeus8713]

Was asking myself if all his money has truly been lost.

[@s1q213]

@@homodeus8713 yeah, he probably send it all to his democrat friends

[@sirbey9608]

didnt burney madolf go to prison for messing with other peoples money as so called investments ? sounds like a movie we all watched before .

[@PeacockRhino]

It’ll mean nothing if he ends up in federal prison for fraud and theft. Not that I hold out on that happening.

[@e.a.corral4713]

They will find it? Promise not to hurt him? Next day: SLIP on a bar of soap?

[@bonwatcher]

The best meme I saw about this whole FTX debacle was the surge protection power strip plugged into itself. Explained it pretty well with just one picture. 😂

[@iicalcipheriim]

Link to the image?

[@just_some_bigfoot_hacking_you]

😂🤣

[@elnegritolamar4689]

Like taking 20 bucks out of your right pocket and putting it in your left then charging interest and putting it back in your right a billion times lol

[@dsnodgrass4843]

I originally saw that meme as a reference to the Bible. Seemed pretty apt there, too.

[@instinctively_awesome8283]

th a growth percentage of 699 percent since 2012, Apple stock is the best in more than a decade to bet your money on. If you had invested $1000 in AAPL in 2012, you will have more than $7000 today. I don't know why people cry so much about 2.1% volatility rate. As for me, I'll hold, buy more and go to sleep.

[@Robertgriffinne]

Been trying to sell off my DOW stocks that haven't done particularly well in the past 2 years for Apple and also some other value stocks. But I'll need good counsel from an experienced investor or an advisor in order to avoid rooky mistakes. Any words for me? will be greatly valued!

[@PhilipMurray251]

Trying times are ahead, and good personal financial management will be very important to weather the storm. It would be very a innovative suggestion to look out for Financial Advisors like " Jennifer Aaron Marcontell , who can help shape up your portfolio.

[@BenjaminMcLeod815]

@@PhilipMurray251 Jennifer Aaron Marcontell really seem to know her stuff. I found her website, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her

[@mimih23]

I cannot wait for you to do an update to this! And I have been looking for this channel for months as somehow I missed hitting the subscribe button and racked my head trying to remember the name of your channel! I am complete now. LOL!

[@freethinker3083]

The reason why you are the GOAT is that you create a relaxed tone to digest heavy information. You also make it easier to follow a story. Instead of watching 13 videos to piece together what's going on, you can come here and know you are getting the full picture. I have to say that the music you use is beautiful and that I highly appreciate how low it is. It is so annoying when the music is at the same volume as the speaker. Great work as always!!

[@kartiksharma959]

now that really encapsulates what i like about this channela s well

[@taidee]

Well said 👍🏾

[@JoshuaSmithFamilyRobinson]

It is his own music he uses!

[@gypsy2007]

For someone who knows nothing about the crooked financial world, I understood this video well. You are a good teacher. Thank you

[@anamazzullo3090]

You said it.

[@schooldayznewz8162]

yup. sharing this with grandma to bring her up to speed.

[@cunnyfunt3923]

its a jew thing

[@gypsy2007]

@@cunnyfunt3923 what is? to be a crook? yeah, it is.

[@ivelsuop9104]

Thank you for covering this!

[@harolddburke4726]

I don't understand how things could go wrong like that... Almost impossible to believe but there it is in front of me. Like a nightmare of the impossible .Of course if the young man can somehow square this. For real .

[@ElvinHartman]

These are grown adults that made choices that they know was wrong hence tryed to hide them. Grown people need to be held accountable.

[@StevenStarksjbirdcapitalllc]

The SEC possible corruption is the most concerning. If it is true, they too need to go to jail for obvious conflict of interest that resulted in customer losses.

[@TheBuckweat33]

This should be top comment. The SEC is arguably the most important regulatory agencies given how dreadful financial crises are for those least equipped to handle them.

[@gastonbarouille767]

Possible? Hahaha

[@maertsaidaem2106]

Blatant*

[@jacksevert3099]

Buddy it's so well known that even Family Guy joked about it lmao

[@marcusczapla3256]

Possible corruption? 2 yr non case against XRP but blatant corruption ignored because of family ties. SEC needs to be sacked and jailed from the top down.

[@wood1595]

Much more in-depth than I thought, Coldfusion does it again.

[@deesee260]

Always excellent Cold Fusion.

[@jacobmierendorff1833]

I completely agree. Fantastic video 🎉

[@MarcoAshford]

We only see the tip of the iceberg for AMC GME incident. More corruption is involved in illegally shorting these stock out of thin air.

[@LeBoomStudios]

I guess none of the investors watched Tomorrow Never Dies. Guptas law of creative anomalies clearly states: "If something's too good to be true, it probably isn't." That guy went from zero to sixty in no time and nobody asked why. Everyone who invested deserved their loss.

[@neltins5308]

yeah man this is crazy, this is gonna be a tragic movie one day like the wolf of wall street ... I can't believe millions of Americans & people around the world lost their money from this guy

[@Dude-etiquette]

The money is not lost, its sitting in the caymens somewhere where people close to Sam can access. No doubt

[@Aflo104]

Currently binging all your videos

[@AffluentBlacks]

I'd venture to guess Sam's father was more involved than the public knows. This story needs to be told, and heads should roll. Derivatives, in the wrong hands, are often evolved into financial weapons of mass destruction. The fallout has only begun.

[@steveperreira5850]

Just the optics is horrible! Inbreeding never turns out well in the long run, and “God‘s chosen people“ have proven that. I would not invest with an ugly curly hair bastard with big tits.

[@robloxien12]

Well said

[@rashid8646]

I hate that some people are making this about race in the comments. There are plenty of financial scammers with politically-connected academic lawyer Democratic parents who are NOT Jewish!

[@Nick-zp8wk]

@@rashid8646 when they're black it's a gang, when they're Italian it's a mob. When they're Jewish its pure coincidence you anti semite!

[@UltraMagnis]

Where there is big big money to be made....corruption follows. There is for sure corruption in the regular trading system too. This was just such a huge loss, huge stuff up it peaked people's interest. Crypto is riff for scams, hacks and dodgey management of asset...yes you can track where each token is placed and purchased but it doesn't show the leverage they have against that asset outside of the block chain. I suspect we'll see a heap of panic trading in the new year. Will be interesting

[@zachariahdrown8435]

The real shock is how talented the guy who manages this channel is

[@Sid-Hardman]

Best comment I've read on this video xD

[@rickreese5794]

FTX is 2022 Merca😂😂

[@schooldayznewz8162]

yeah i was like you do music too?! ending video transitions were as sick as the music.

[@ytpremium7649]

They need to make a movie of this dude

[@rohiniguiland4873]

I know we shouldn't judge people by thiet apparence but I cannot see how anyone overlooked thier sloppy apparwnce.

[@JohnnyHandsomeCapital]

FTX is a very good example of how little VC companies understand what they are doing and how foolish people are when it comes to tech related companies, as long as some storyteller is hyping them up. Thank you for sharing this awesome work 🙂

[@daizee106]

They know exactly what they are doing

[@soniavadnjal7553]

"storyteller", yup.

[@russellhamner4898]

Unkempt looking founder with political connections operating in an industry that contains all of the latest buzzwords? TAKE MY (clients') MONEY!!!

[@wasd____]

Also a very good example of how crypto always turns out to just be a scam of some kind, whether of the simple and obvious variety, or a breathtakingly elaborate contrivance.

[@ALLEN-dh5mi]

@@wasd____ exactly I’m also thinking that all these companies somehow are connected with each other and are working together while putting up a show for us. I’ve never understood the hype around crypto.

[@WhiteCollarWarriorWallStFraudE]

As a former director of compliance for a SEC registered Wall St firm I can emphatically state these little criminals would have been laughed out of the room during a first due diligence meeting. The shame is on every professional that was duped. Everyone of them.

[@jglee6721]

I am just an amateur investor but I would never ever sign up and send money to a broker/exchange in the Bahamas. You've got to be kidding.

[@wehyuhwaknowlamierde]

Black rock, WEF and more big names?? No way they weren’t implicit imo

[@LGM090221]

Pft bs. The SEC is in bed with Wall Street. These "little criminals" will get off with little more than a slap on the wrist.

[@roberthannah7983]

Im with you, this is exactly why we have all the compliance requirements - reporting, accounting, auditing, disclosure ... all that boring but necessary stuff.

[@fernandoherranz4095]

Those MIT degrees looked very impressive as did their brief work experience in the industry. Smart kids promising big profits is pretty intoxicating. Maybe the regulation for the crypto market needs to be more akin to how the gambling industry is regulated, not the financial industry. Not sure this is the right way forward, but crypto is still a scam and needs to be regulated as such.

[@MangaSockAttack]

I don’t think “only invest what you’re willing to lose” is fair-this isn’t people betting on a bad stock, some of these people didn’t even invest, just put their money in FTX

[@mehmetkarazeybek1984]

He is a visionary. VRITKN300 is a long hold

[@ATutube]

Scam

[@margottravis1970]

and VRITKN700 is the real joint.

[@itsvmmc]

As soon as this happened, I was already expecting a ColdFusion episode.

[@KevinA.Fuller]

Likewise

[@qa3byte142]

Crazy how fast you can produce such in depth documentaries.

[@endcensorship874]

I think he had this one all ready to roll for a while now. The writing was on the wall.

[@drissalaoui9674]

he just resaid what has been already said by many ppl before him days ago literraly nothing new it's been a week i don't call that fast

[@qa3byte142]

@@drissalaoui9674 you clearly have never created a video before

[@floerkhausen1]

@@drissalaoui9674 Exactly „some days“ is a major issue to produce such content. Try on your own, then report… 😂

[@denysolleik9896]

He’s in on it. /s

[@serifebalk3169]

Quality videos Andre. And you do it without the sleeze ball salesman twist that meet Kevin puts on his videos VRITKN300

[@phuriousstorm]

Your content is great, music is great. Ty

[@profjonb6944]

1000% agree with the end. It's sad that people used this space as an escape from the issues that caused 2008 and in the end its those same people getting screwed over in almost the exact same way.

[@josephhoward4697]

Sadly, there is no escape from financial meltdowns. Every time a new financial instrument becomes a sure thing, people find ways to cheat.

[@mk177]

@@erdelegy uwuwuwuwuwuwuwuwueeuuwww

[@titotitotito]

see zed

[@asobacleanenergy]

Fool me once, shame on you. Fool me twice...maybe I should stop yoloing my life savings to people promising 10x returns in short time frames

[@jonasdatlas4668]

To quote Dan Olson on this, “the problem is what people are doing to each other, not that the building they’re doing it in has the word bank on it”. Crypto doesn’t fundamentally fix any of the problems that caused 2008, because those are human problems. So it just became the new means by which the same old things are done.

[@sefika9825]

I've been trying to understand the FTX situation for days and this video is the most comprehensive, understandable, well structured video I've seen about the situation. Your videos are awesome, please continue making them! :)

[@WarriorsAttitude.]

☝️☝️ thanks for your feedback. Tell Max Thomas, my trusted investment broker, I recommended you for a life changing investment opportunity, I recommended him💯....

[@Year--oq1om]

FTX was funded and created by the world economic forum and davos to stop the "freedom" (without paying taxes) to purchase items it was ftx was also a ponzi scam and they were laundering money. The democratic were laundering money from uktaine into ftx back to democratic party.

[@rkgsd]

3.7 million followers and the compensation KZbin pays him as a result is enough motivation to keep making these fascinating videos.

[@l.d.t.6327]

It's easy to understand. look up Ponzi scheme. The whole of cryptocurrency is just that.

[@angelicamichelle1646]

I know I love these people they rock

[@auroraaa._.]

Question, how did FTX set the initial value of FTT token during the initial offering? Did they tell their investors that those FTT token are tied to whole assets/shares of FTX as a company? Or did they said that the FTT token is just another FTX's product? 🤔🙄🙄

[@benderbendingrofriguez3300]

the bitcoin loophole you mention is actually called arbitrage which is the practice of buying and selling equivalent goods in different markets to take advantage of the price difference.

[@drwales]

From the moment this story broke I kept refreshing CF's KZbin channel page to see if this video had dropped. What a greed-filled world we live in! I hope those responsible never get away with this.

[@fft2020]

This is the kind of circus that zero interest rates brought

[@jordanflynn8999]

This story happens with all crypto currency , just look at coffeezilla's channel

[@MrThe1234guy]

I didn't have to watch it to know I wanted to share it with a friend. These videos are always so clear and conscious

[@sunlite9759]

Think this is bad? Where are all the munitions that 55 billion bought for Ukraine.

[@Praisethesunson]

I miss when massive financial crimes at least resulted in like, continental spanning railroad networks or massive steel industries. Today it's just financial crimes that produce literally nothing, while still having a ridiculously high negative impact on the environment.

[@TheJeanbernhard]

He went from being Bankman-Fried to Fried-Bankman in just days.

[@Potenti4lz]

Apple doesn't fall far from the tree

[@tracklouie2735]

This guy was fried from the start

[@DL-fl5ul]

@@Potenti4lz Wait did his mom really not take the last name of the husband? and he took both their names Bankman Fried? Lol, that'd be the most liberal thing I've ever heard hahahah

[@nemesisprotagonists4318]

Just bought and Still Holding VRITKN300

[@base21]

Don't hold

[@solar-deity]

I'm curious, what were the laws of the Bahamas islands in relation to international e-trading? Did that have any kind of special effect on any of this?

[@psy-locked2366]

17:17 "if these reports are true, we could be looking at genuine corruption within the US government" I roared with laughter. Boy that's the understatement of the century.

[@gregkamer3754]

This is why news reports are stating that he is also getting ready to plead guilty. Those in the government who profited from his fraud need to shut this down as quickly as possible. They can't afford to have any of their dirty laundry coming out as a result of a pesky trial.

[@weabootrash5891]

I’m other news the sky is blue and water is wet

[@scottjohnson9912]

Corruption in the US government, noooooooo sarcasm

[@Prima10ne]

And what has came of it so far? Nothing right

[@seancrowley1065]

You mean that Biden and the Democraps are corrupted ??? 😁

[@StarsAndAngels]

Masterful video just soo well done

[@dapperragnar4076]

Caroline: “A vicious power struggle for a polyamorous relationship” CF: “I have no comment” had me dying 😂

[@simonpetrikov3992]

What else are you supposed to say in a non judgmental way because all the best I have come up with is “I have no comment” because that sounds completely confusing and sounds completely unhinged compared to normal polyamorous relationships which I’m skeptical of myself

[@Sampsonoff]

I have a comment: WTF

[@Rick_Cleland]

🤣🤣🤣

[@steveballzack1409]

Imagine being as ugly as she is and believing that you're at the top of sex mountain and people should be fighting for mating rights, LoL. Gives you an idea of how out of touch with reality these people are.

[@GodlikeIridium]

Yeah... Sick... An ugly girl with a powerful dad ending in that position... Not really surprising, but sad. Especially sad that it went on so long...

[@MrMooemoney]

It's hart breaking where we live in a world where homelessness is rife and families struggling to feed themselves but con artist in the financial sector are in bed with same politicians who claims they represent and work for the people.

[@sophiamirandagonzalez4410]

“And his polyamorous friends” got me😂

[@Ronilac]

It is a story about individual greed, that is many times bigger than any corporate greed... But we don't want to admit it.

[@darrenwheat681]

I was the victim of a Craigslist scammer. It wiped out my savings and I was devastated for a while. It is not only the financial toll but also shame and embarrassment that I would let myself be taken advantage of in that way. My heart truly goes out to all these people. I hope they are able to move on from this.

[@tomcatymca]

The best investment is to have a good life spend all your money enjoy your life all the investment are corrupt now or later you will lose everything

[@trevorbrodie648]

How far did it go for you to lose your savings from a Craigslist scammer if you don't mind me asking?

[@fuzzyslippers7520]

@@tomcatymca and with that mindset you aren't going to live a very meaningful life... without investing I would've NEVER been able to get a 7 figure stock portfolio, and a 7 figure crypto portfolio. There's a difference between someone who chooses to engage in fraud, and something actually being a fraud.

[@happydays8171]

Wish you the best. Actor Kevin Bacon had his entire investment portfolio managed by Bernie Madoff, and lost it. He got a few movie roles after that, but hate to see people get taken.

[@fuzzyslippers7520]

@A Z lmfao, yes they "crash" but it only breaks those that can't control their emotions... Inability to control ones emotions doesn't mean that money can't be made. No need to respond, you've told me enough about your financial education.