This Wasn't An Accident. FTX Tried To Hide BILLIONS of $ | Asmongold Reacts

Video by Coffeezilla • This Wasn't an Accident
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#Asmongold

[@andrewparsons2391]

"He doesn't have an evil bone in his body." Well, leeches ARE invertebrates.

[@davidsargsian4257]

I like the brains behind this comment

[@memeboi7513]

Okay that's smart

[@kkandola9072]

💯💯💯💯🎯🎯🎯 perfectly put. I’m remembering that .

[@GGE415]

Lol good point! “There are no bones in this demon of a human” lmao

[@danyo6938]

FTX and SBF knew exactly what they were doing.

[@fidesign5924]

DEAD MAN WALKING!

[@Terepin64]

No shit, Sherlock.

[@WithScienceAsMySheperd]

"this man at FTX had not an evil bone in his body" Yeah... he only got a Ponzi heart transplant though

[@ThundaFuzz]

The "bad for business" excuse for the journalists and other stuff is exactly why we got into the housing bubble situation in 2007/08. Ratings companies would rate those loans high or risk losing their customers to a competitor. It's like no one learns or has balls to do the right thing.

[@pew3561]

And the journalists refused to talk about it because they would lose their access. Yeah

[@vazzaroth]

It's almost like competition isn't purely a good thing and the world is complex and no one ideology is capable to address literally everything since we can't achieve a perfect world, or something.

[@ThundaFuzz]

@@vazzaroth competition is no where near the issue, the problem was fraud and the desire to do anything to make money, even breaking the law.

[@chillshock2144]

If I "borrow funds" that way, I have a weird feeling of being in jail faster than a judge can even say "court".

[@freezingcicada6852]

The only thing I'm concerned with is the possibility that Sam Bankman-Fried doesnt get grilled hard enough or weasels out of jail time. This wasnt your average crypto bros but serious creditors and pension funds that had millions in FTX too.

[@lesterparker1594]

He gave millions upon millions to the exact people that are supposed to investigate him. Strong possibility he barely gets a slap on the wrist. That’s what you get with the democrats and even the establishment republicans in office

[@gnarkz6774]

He won't see a single day in jail.

[@basils8255]

My only problem with the video that SBF is really stupid (you can't get it from the video) and won't shut up for his life, his twitts from last 2-3 weeks are enough to get him jail time.

[@Indy_Bendy]

​@@gnarkz6774 100% wrong

[@gnarkz6774]

@@Indy_Bendy I'm glad I was

[@topspot4834]

How does Zilla not have more subs? Dude digs deeper and is more logical than any mainstream media and 99% of KZbinrs.

[@AnD1262]

@@birdbig6852 wouldn't it just be printed money that got "legitimised"? mind you, you are just adding people involved with fraud not magically changing it into "not fraud"

[@ballducked7288]

@@birdbig6852 ftx wasn't ever gonna survive, you are totally lost

[@PlatinumLemur]

I had come across him a while back but after this scandal I'm subbed. Totally with you.. He's great.

[@erlanddrow7950]

Logan Paul did help raise those numbers by a lot recently 😅

[@DexTag]

No one could have predicted that a market dominated and controlled by whales would mostly create scams

[@FirstLast-dh8ks]

human nature and the societies we create

[@NihlisZero]

it's the same thing in the stock market

[@tropik5724]

@@NihlisZero True but I have only gained money buying stocks and lost money buying cryptos so I take the first option only now.

[@yellowspike3344]

@@tropik5724 that's probably because stocks are less volatile while cryptocurrency is extremely volatile.

[@omarlemus5150]

*Shocked Pikachu Face*

[@darkdeath5550]

So either we have a macavelian schemer that was able to dupe everyone for billions Or A man so inconceivably incompetent that he dropped the ball so hard, it just gave Hiroshima fucking flashbacks

[@outforbeer]

Financial institutions have to leave behind all internal messages, email, communication forever. The fact that he had auto delete make him breaking the law already

[@Auswurkung]

"It's easier to fool people than it is to convince them they've been fooled" Mark Twain.

[@mrthewhite2620]

Make no mistake, Kevin is not stupid. He's backing ftx for one of two reasons, he's hoping this angle will help him recover some of his money or 2 he's complicit in the scam and trying to cover it up. He will never work with this guy again but he doesn't want others to think that because he thinks it financially advantageous for him if others still have some faith in the ftx guy.

[@Redbeardian]

He's probably also leveraged in other investments/ponzis that might come crumbling soon for similar reasons and is trying to buy time to cash out before the mad rush to sell. Enough people listen and take serious people like him that just from his public words they can crash other scams within a day.

[@henkweeds1498]

@@--_DJ_-- u cant be serious

[@gordons-alive4940]

He's got a degree in physics from I think MIT. That doesn't mean he's good at finance, but he's no dummy.

[@jmwintenn]

MIT is just another ivy league daddy payed for me school, has been for quite a while now.

[@gordons-alive4940]

@@jmwintenn He finished his physics degree. They don't just hand those out. It's not business admin.

[@bytoadynolastname6149]

I gotta hold all random emails for 60 days, and if they're even slightly business related it's a couple years, and at any time during those couple years one of the company lawyers can say "you hold that shit until we tell you to stop holding it."

[@yaddayamean7769]

Damn Asmon dropping so much content lately. Who else watch these to help them get through the day? lmao

[@Drannos99]

This is sad

[@yaddayamean7769]

@@Drannos99 lol not really..im a truck driver..i drive 11 hours a day..i need content to help the drive..run outta shit to watch

[@mullahgaming9446]

he drops contents of others, not really the same thing

[@yaddayamean7769]

@@mullahgaming9446 yea i feel you i know

[@cryptouk7985]

When I first watched him I thought to myself how the fk does anyone like this guy..... 3 weeks later whilst listenin for several hrs a day at work, feels like he's my irl broski

[@vanityiii3561]

As a junior IT developer, I have warned so many colleagues and IRL friends about this for 7 years and had people laughed at my face or called me stupid, I only wish I was better conversing the major flaws so they did not go bankrubed... Oh well.

[@bolikde9389]

They dont laugh anymore ?

[@ronlecarpetron3864]

The last name of Bank-man should have been the first red flag and funnily enough, the hacker known as 4chan knew he was a fraud from the start for some inexplicable reason

[@notchunglingsu7014]

nothing is beyond our reach

[@margaridosobon7403]

the most logical sequel to the story. 0% suprise lmao

[@KittenKatja]

30:00 ← not gonna look for the exact time stamp, as I stopped it at 32:00 This reminds me of one chapter in 'Spare Me, Great Lord', where Lu Shu is questioned what he can do, he said he can calculate multiplicative in the mind really fast, and then gets an exercise that he answers so bad they freak out over it, but Lu Shu replies that he answered it really fast. xD

[@melodyoswin4709]

You go back because of something called the page turn effect or something like that where people will see a story so wrong in an area they’re familiar with but then they’ll see another story in an area they’re not familiar with and will soak in the other story

[@mikepence1933]

Gell-Mann Amnesia effect

[@Crimson9000]

Well that escalated quickly

[@carmenramalhao2777]

Medium length Keanu Reeves style cut would look fab on you Asmon.

[@SnakeWasRight]

Yeah don't attribute fuckups to malice, attribute incompetence... unless they personally gain from said fuckup.

[@xentaatnex8261]

Sam doesn't have an evil bone in his body but it does seem like he has a skeleton full of stupid indulgent bones.

[@DarthTaco]

the candid open-soda-and-casually-sip move, tho LOL :D

[@TheRutefly]

What i love about Asmongold, is that you can disagree with him and he doesnt give a f***. And sometimes he just hits the nail on the head and comes up with a halfdecent observation.

[@armnkm2210]

the reason why they try to say "" oh it's not fraud, it's stupid mistake" hell no! it's because they don't want crypto to fall apart because they also invest in it one way or another. this is just basically damage control

[@bubbakushingtonIII]

"Well peel this onion in the future." Yeah SBFs head is the onion. These people are unreal there has been lives ruined over this.

[@MalakAlMaut6860]

Too much damage not to be considered as negligence at the very least.

[@Jason-ji8ql]

The reason Kevin can say "Yes I would back him again," is because it'll never happen anyway. And even *if* SBF happened to come back to him for another offer, he can use any excuse in the book to avoid it. It's like asking obscene questions like, "If you had to choose between the two: Giving a family to invading aliens, or getting your house taken away," you can easily say the first choice. Because there's no invading aliens.

[@MartinHindenes]

There's a toxic part of startup culture that says "it's okay to fail and again and again", even though you're borderline scamming your customers, even though you're using questionable work ethics, if it goes wrong, just declare bankruptcy and try again. Because that's how great entrepreneurs succeed, eventually. Maybe. After they've ripped off a bunch of customers and investors. That mindset is applauded in the startup industry. And you can see it seeping through in some of these interviews.

[@epigeios]

Rule of thumb for reading all news articles, scientific papers, etc: ignore all conclusions with extreme prejudice. Conclusions are where the writer inserts the writer's imagination as a substitute for reality.

[@bk49534]

SBF was on White House’s guest log, twice, to visit “the big guy”

[@robertp457]

Every time I see the acronym "FTX" I can't help but think we are talking about a Field Training eXercise.

[@nocturnowl_0100]

@18:09 "Kill one man, and you are a murderer. Kill millions of men, and you are a conqueror. Kill them all, and you are a god."

[@Dovahkiin106]

“It’s not a scam because some people make money.” He literally explained how you get away with cheating by intentionally missing a few questions. It’s the same exact concept. They make idiots fall for the scam by letting a few people make money off of it.

[@mildlyangryguy6292]

20:55 This happened in our high school Biology class once, except the answers were accidentally printed on the very last sheet of the packet. After word silently got around that every single person had an answer key on their test, no one said anything to the teacher and everyone proceeded to pass the test. In fact he thought we all just did really great (because none of us were stupid enough to actually copy every answer down 1 for 1, except the smart kids who were expected to pass with like 90s or 100s anyway). We told him afterward that he accidentally printed the answers on our packets but he didn't believe us, it was only after he looked at every packet that he realized he messed up and did actually do that.

[@jay-rweber4307]

I always say this to myself. "There is no such thing as easy money". If a deal is too good to be true, I think twice. I will take risks but never ever go all-in.

[@greezyxl9862]

Great life lessons from magic the gathering 👍

[@JBrimBloodG]

"hey, get this zorp'gog, we literally just named him 'bank-man'"

[@BackupPodcast]

The FTX failure was perfectly timed tbh. Eth would be in the 2k-3k range if it werent for SBF.

[@AoCabo]

SBF: "Ethics is a dumb game we woke westerners play." That gives you a pretty good idea who somebody is when they say something like that.

[@adamosborne9440]

Asmon- Gelman Amnesia, take a look into that. You nailed it.

[@johannadavis7594]

I find it Interesting just a couple weeks before this news broke, out of the blue I received mini docs on how wonderful this guy is on my social media. I did watch one. I never even heard of this guy before that

[@pokemonruler54]

Congratz Asmongold, you have found out about the Gell-Mann Amnesia effect

[@boldCactuslad]

Also called the News Always Lies effect

[@DSTyN288]

Asmon turned into a souther bell "I do declare mistah Jim! They nevah taught us to read the tyyme!" 😂😂😂

[@Pengochan]

The thing is: those scams are *trade* scams. You could do that with any volatile assets, crypto just happens to be "hot", so traded in high volume, and of course volatility is built in, which makes it ideal for this type of scam.

[@destroyerinazuma96]

About the interviewers not knowing anything about crypto - a conter example (un sales) would be when the actual Wolf of Wall Street interviewed Grant Cardone and later said he thought Cardone actually knew little about sales.

[@NotSomeJustinWithoutAMoustache]

The thing with Hanlon's razor is you're either uber dumb or malicious. Sam can't really save his image with the defense, it's just a desperate last ditch effort lol.

[@snaker9er]

I'm noticing some of these last names coming up a lot the more I notice them

[@NihlisZero]

Asmon talking about Crypto exchanges like it's a WOW auction house gotta love it 😂

[@Froggeh92]

It is. The shitcoin is the wow token.

[@NihlisZero]

@@noahblevins9569 What do you mean? i paid for an entire trip to asia with crypto plane ticket, hotels etc

[@NihlisZero]

@@noahblevins9569 Oh my bad yeah no argument there also plenty of scam coins out there it's kind of a minefield

[@saralotti7174]

People are flooding our border to earn Dollars, not crypto.😉

[@outforbeer]

Sbf wasnt a brilliant trader. He was losing money thats why he dipped into customer funds to bail himself out. Its like a gambler who lost his money at casino and borrowed from his brother expecting to make back what he lost

[@xbxb]

17:11 I mean, that's what Crypto wants right? No regulations, so there you go, insider trading.

[@Maxdady01]

Consistently the best takes on the internet.

[@seekittycat]

People jumped on centralized """safe""" projects because they kept getting scammed by shit coins and influencers. I swear some of these people jump from one shitty coin to another before losing it all on the biggest shit coin of all 🙃. Honestly what a sad state of crypto.

[@Robulite]

I mean if given the chance to run away with a billion dollars I don't know anyone that wouldn't.

[@jel1951]

5:20 this is accurate i work at a bank and we hire multiple large firms like Deloitte to audit us

[@oddlypositive3602]

"This Is Unprecedented": Enron Liquidator Overseeing FTX Bankruptcy Speechless: "I Have Never Seen Anything Like This"

[@Silverfoxy50]

The fact that their Auditors address was in the Decentraland, Metaverse is crazy!!

[@7thangelz]

i think with o'leary, it's game recognize game.

[@zconaway]

And Kevin O'Leary going all in with the sunk cost fallacy

[@bomb8977]

Part of a very important coin been talked about in the BCL

[@Seijik4702]

Gell Mann Amnesia effect.

[@Killin_365]

The company I work for pays for 3rd party audits before OSHA does theirs for the exact same reason.

[@SYLperc]

WAIT> look at the kevin o'leary clip at 0:40. look above asmongold's head. wtf is that on the wall haha

[@AnonDoge]

I'm not sure how this was only 20 something's throwing money at this. You have major companies like fidelity and BlackRock throwing money at these companies.

[@swuppz]

The Danish Prime Minister did the same thing. Just killing a hole Brand in one swipe. when it got under the radar it was too late.

[@justanothermaid]

This thief is legit retiring to the lifestyle many mmo gamers aspire to in rich people prison. Meals delivered to room, cleaning services, never have to go outside. If he has access to LoL in there maybe he really is a genius.

[@lemme9165]

test sheet prop = COD code jacklinks beef jerky bag...lol

[@RangerBass]

Ignorance of the law is not a defense

[@mikeredex]

how is this a 42min video lol good job asmon

[@tommauro3052]

How dare they!!

[@Mallaien]

I read that the Caribbean government sized about 450 million of crypto, originally reported as a hack.

[@enneagram84]

why did no one catch on to this, because all the bad actors are part of the same group. watch back the video and look at the names of these people

[@antyrak7905]

That's what you get using centralised glowing exchanges. Not your keys, not your crypto.

[@RamblesBrambles]

Whilst i was in the bank to withdraw money...i was distracted and held the place up...unfortunately I was caught,

[@jazzyjazz00]

19:36 Nostradasmongus at work at his finest predicting the future case of Logan "the Redeeming" Paul 🧙

[@The_0]

Curious how everyone defending SBF or trying to paint him in a sympathetic light share the same ethno-religious background as him. What a Coincidence.

[@Chaka421]

Just how long does the Internet need to exist before MSM dies off?

[@andrewmartin409]

Man, I love asmonds school stories

[@DrDipsh1t]

O'leary is looking quite slim and healthy these days. Good for him. He's an entertaining ass hole and knows it, so I respect that lol

[@ihaveachihuahau]

"family" lawyers don't keep families together and "ethics" lawyers don't help you comply with ethics. They help you get around ethics.

[@ssisis265]

He's so happy about the Recession coming in, like he's super excited to be witnessing it.

[@Marvellann]

I'd say that FTX was set up as a money laundering operation. That would explain the good perception and positive standing of FTX in US politics.

[@RayThomasFilms]

He's the young fall guy

[@xombiemike]

rofl @ the clock bit for stealing the answer key

[@raymondhartono]

Vague company is next level Jesus Christ. Reverse Company holding.

[@daniilk3362]

1:36 Photo in bg

[@-PureRogue]

Idk if this case could be even called fooling, simply from what I see they made decision to go all in and took huge risk by backing their own currency with their own and people money, which turned into shit show after they got backstabed by competitors and people followed them making things even worse, things like that can happen with banks and they have way more safety nets.

[@vissermatt1058]

dude was running a market, but instead of buying an selling stuff, he was taking customer's money and telling them there money was worth x y z, meanwhile he took their money and invested without their permission or knowledge. when everyone saw how successful the company was, it was just him spending his investors cash. they bought fame for FTX without their knowledge. it's a little outside of the normal ponzi scheme concept, but the framework is there. tell people there money is in good hands, then when they need/want it, there is nothing there

[@Hiihtopipa]

Man The betrayal the teacher is going to feel if she sees this.

[@DerangedMerger]

21:55 OMG

[@rahile5354]

I have invested on presale, we will see I am also very confident this will be easiest 100x.

[@Luckma1]

isnt the guy in the heartshaped picture in the backround the juicero scam guy?

[@joefer5360]

Not the same guy. That Juiero guy is like twenty years older than this one.

[@ThatGuyisok]

still waiting for those killary emails 👀

[@trias418]

Bloomberg passing on the story - #1 dem donor decides not to investigate #2 dem donor.

[@Poberaganser]

You know, In Russia 90s there was a guy Sergei Mavrodi. He was doing Ponzi piramide insde the country and got in jail for that. In 2011 he creates the same project, but mostly online, and you know what? People were still giving money to him!

[@tacgenesis2356]

LOL that game reviewer losing access for rating a game bad is totally Battlefield 2042

[@ScarfinUSA]

The My Pillows are great

[@nouseforone1]

SBF's wife just happened to be the former head of the SEC

[@wiltheavatar]

hes not married

[@nouseforone1]

@@wiltheavatar sorry, "girlfriend"

[@VotEtoPizdets]

1:10 No, The other option is actually worse. At least if hes an evil bastard then he is making other clients money. If he is merely incompetent to that extent then he is spearheading an organization directly into the ground and billions more will be lost over time. We had better hope he is just evil. Either way, hes incompetent because he was caught. Not the qualities and traits i want in a company i hire to handle my finances.