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This week hosts Kyle, Fleri, and Baba Yaga reflect on their recent trading experiences, including the impact of the FTT collapse on their personal accounts. They discuss lessons learned from navigating volatile markets, the risks associated with prop accounts, and the future of trading in light of recent events. Emphasizing risk management and adaptability, the conversation also celebrates a year of Band of Traders and explores innovative ideas for improving the trading environment.The hosts share personal stories, discussing the emotional challenges traders face, especially when dealing with losses, and the importance of mentorship and community support. They reflect on their efforts to support the community following a hurricane, highlighting acts of generosity and collaboration. The episode is rich with insights on trading strategies, the significance of risk management, and the emotional aspects of trading, offering listeners valuable takeaways on how to navigate the complexities of the trading world.Sponsors and FriendsOur podcast is sponsored by Sue Maki at Fairway Independent Mortgage (MLS# 206048). Licensed in 38 states, if you need anything mortgage-related, reach out to her at SMaki@fairwaymc.com or give her a call at (520) 977-7904. Tell her 2 Bulls sent you to get the best rates available!For anyone trading futures, check out Vantatrading.com. Founded by Mr. W Banks and Baba Yaga, they provide a ton of educational content with the focus of teaching aspiring traders how to build a repeatable, profitable process. You can find our exclusive affiliate link/discount code for Vanta ‘s subscription in our free discord server as well!If you are interested in signing up with TRADEPRO Academy, you can use our affiliate link here. We receive compensation for any purchases made when using this link, so it's a great way to support the show and learn at the same time! **Join our Discord for a link and code to save 10%**Visit Airsoftmaster.com to support one of our own!To contact us, you can email us directly at bandoftraderspodcast@gmail.com Be sure to follow us on Facebook, Twitter, or Discord to get updated when new content is posted! Check out our directory for other amazing interviews we've done in the past!If you like our show, please let us know by rating and subscribing on your platform of choice!If you like our show and hate social media, then please tell all your friends!If you have no friends and hate social media and you just want to give us money for advertising to help you find more friends, then you can donate to support the show here!Baba Yaga:Solving problems, helping set goals, and refining processes is the bulk of Baba's passion. He does that in many contexts ranging from nonprofits to real estate firms and everything in between. He focuses on market structure through the lens of TPO charting and executes based on volume, misplaced large orders, and delta. He loves the opening range breakout and typically trades the market from the “inside out”. Vanta Trading websiteVanta Trading YouTubeFollow Baba Yaga on TwitterFleri:Fleri is a seasoned trader whose journey began in the early days of crypto exchanges and mid-cap stocks. Evolving over time, he redirected his focus to futures and intraday trading, specifically honing his expertise in ES, NQ, RTY, CL, and UB. His approach is deeply rooted in Market Auction Theory, navigating the market by tracking participants through a nuanced blend of pattern recognition and the confluence of Price Action and Order Flow. At the heart of Fleri's trading philosophy is a meticulous plan of execution, identifying areas for the auction to potentially seek value. Leveraging Order Flow and Price Action, he capitalizes on opportunities that present themselves throughout the trading day. Fleri is not just a trader; he's a dedicated educator, sharing his insights through podcasts, Twitter, and Discord to support fellow traders on their journeys. What sets Fleri apart is not only his technical prowess but also his lighthearted approach and transparency about both past and current struggles. In the complex world of trading, Fleri brings not only expertise but also a relatable and open demeanor, creating a supportive environment for traders to learn and thrive.Follow Fleri on TwitterAvo Alpha DiscordSub to Rare Barrel on YouTubeAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy
**FTT Token Surges 90% Amid Hints of FTX Reboot**In a significant development in the cryptocurrency world, the FTT token, associated with the defunct FTX exchange, has seen a remarkable 90% price surge. This increase follows comments from U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, who hinted at the possibility of reviving FTX under new leadership.Gensler's remarks, made at the DC Fintech Week, suggested that if anyone, including Tom Farley, a former president of the New York Stock Exchange, wanted to revive FTX, they should do so "within the law." This means ensuring proper disclosures, building investor trust, and avoiding practices like commingling customer assets or using them for personal gain.The potential for an FTX reboot has been a topic of discussion for some time. In January, John J. Ray III, who oversaw Enron's bankruptcy and was appointed CEO of FTX after its collapse, even floated the idea of restarting the exchange. Ray established a task force to explore the possibility of relaunching FTX.com, the primary international exchange operated by the company.However, not everyone is optimistic about the prospects of a rejuvenated FTX. Thomas Braziel, founder of 117 Partners, cast doubt on whether a revived FTX would succeed, stating that no buyer or relaunch partner would use or include FTT tokens.Sam Bankman-Fried, the former CEO and majority shareholder of FTX, is a significant figure in this narrative. His actions and decisions during his tenure at FTX have been under intense scrutiny. Despite his efforts to build FTX into a major player in the cryptocurrency market, the exchange's collapse in November 2022 led to widespread financial losses and a loss of investor trust.Bankman-Fried's involvement with FTX has also been marred by controversy. He has been accused of misusing customer funds and engaging in other unethical practices. These allegations have contributed to the skepticism surrounding any potential revival of the exchange.Despite these challenges, the surge in FTT tokens indicates that investors are cautiously optimistic about the possibility of a reboot. However, any future developments will depend on how effectively new leadership can address the issues that led to FTX's downfall and restore investor trust.In conclusion, while the prospect of an FTX reboot is intriguing, it remains to be seen whether this can
# Manly: https://erickimphotography.com/blog/2024/10/03/manly-3/ Maybe Bill Gates , James Cameron, and Arnold Schwarzenegger are the issues here? ## Political lobbying Also, he or she with the most amount of dollars to throw at advertising, shall win. For example something interesting that I uncovered after the whole Sam Beckman free issue with FTX is that he essentially bribed all these politicians sports athletes, crypto influencers etc. to save that bitcoin was bad for the planet whatever, and to get the FTT token or other versions of it was “for the planet“. ## Follow the money **Money talks. Words weep.** Essentially the idea that when it comes to almost anything in modern day times, just follow the money. Now that we have ChatGPT, and search capabilities, the very very easy thing you could do is tap late and search the political donations of a certain political candidate, and you could tie it to a certain incorporation etc. I think this is amazing because it's squashes all these Ridiculous conspiracy theories. In fact, I truly do believe that ChatGPT might be one of the greatest boons to humanity of all time. Why? Because you could've sent you a search all the conspiracy theories, and discover whether they are true or not, and also… The implications of it. For example, take any YouTube theory or podcast theory, plug it into ChatGPT the paid premium one, search it… And see what you get. For example let us say it is true that the Ross Childs or whatever or this whole conspiracy theory of the Jewish making system exist, the more important question... does it matter? Assume everything was true. Would it matter? Especially in your own personal lived reality life? Then the second more difficult thought, what if all the conspiracy theories were 100% false? And they were just promoted by some weird 400 pound obese man, living in his mom‘s basement, high off of marijuana and shrooms, and all he does is play World of Warcraft, if that were the case… Would it matter? Or another version of ERIC‘s razor, assume all of the negative toxic comments you have ever read in your life, whether on your own website or blog, via email or text message, phone call, YouTube comments, Facebook comments Twitter comments Instagram comments, whatever… What if all of the negative toxic comments and even the critiques on other websites, or blogs, were in fact, 100% malicious bots? Would this change your opinion on things? Obviously it would!
**The Rise and Fall of Sam Bankman-Fried: A Crypto Legend's Downfall**Sam Bankman-Fried, affectionately known as SBF, was once the epitome of success in the cryptocurrency world. As the founder of FTX, he built a digital currency exchange that boasted an active trading volume of $10 billion and a valuation of $32 billion, making it the third-largest exchange globally. However, his meteoric rise was short-lived, and his empire's collapse has left a trail of financial devastation and controversy.**The Genesis of FTX**FTX was founded in 2019 by Sam Bankman-Fried, who had a vision to revolutionize the cryptocurrency market with a more user-friendly and secure platform. The exchange quickly gained traction, attracting both retail and institutional investors. FTX's innovative approach, coupled with its aggressive marketing strategies, propelled it to the forefront of the crypto industry.**The Downfall of FTX**However, beneath the surface, FTX was facing significant financial challenges. The exchange's liquidity crisis began to unfold in November 2022, when Binance, a major competitor, announced it would sell its holdings of FTX's native token, FTT. This move led to a sharp decline in FTT's price, erasing $2 billion in value and triggering a three-day depositor sell-off of an estimated $6 billion.Despite efforts to salvage the situation, FTX's financial woes continued to mount. On November 11, 2022, a significant amount of funds was siphoned from the exchange through unauthorized transactions, further exacerbating the crisis. The collapse culminated in a non-binding agreement between FTX and Binance to purchase the exchange, which ultimately fell through due to Binance's concerns over FTX's handling of customer funds and pending investigations.**The Aftermath**The collapse of FTX has left creditors reeling, with many facing significant financial losses. FTX creditors are expressing dissatisfaction with the payouts they are set to receive, which range from 10% to 25% of their crypto holdings, based on outdated prices. The emotional toll on these investors has been substantial, with many reporting severe mental distress and panic attacks.Sam Bankman-Fried's downfall serves as a cautionary tale in the cryptocurrency space. His story highlights the importance of transparency and responsible financial management in the rapidly evolving world of digital assets. As the crypto market
Some of y'all being singin' "For Forever" like the lyrics be "I see wrinkle lines, for forever," and Mary and Steven get into it and so much more, covering the missed, forgotten, and incorrect whoopsie daisies. We were just lying on the ground waiting to see if anyone would say something. Happy Listening! If you like what you hear give us a thumbs up, follow, and rating. :) It really does help out the podcast, so thank you! Share with your friends and castmates, and never miss an episode by hitting that bell button. Thank you FTT! Fam. No better followers out there that take each week… FROM THE TOP! Listen Anywhere You Enjoy Your Podcasts INSTAGRAM Goosebump Worthy Broadway Playlist - FTT Spotify Exclusive Playlist Dear Evan Hansen (Original Broadway Cast Recording) - Spotify Dear Evan Hansen (Original Broadway Cast Recording) - Apple Music Dear Evan Hansen (Original Motion Picture Soundtrack) - Spotify Dear Evan Hansen (Original Motion Picture Soundtrack) - Apple Music Dear Evan Hansen Comparisons - YouTube Song List "Anybody Have a Map" – Heidi, Cynthia, Evan, Larry, Connor, Zoe "Waving Through a Window" – Evan "For Forever" – Evan "Sincerely, Me" – Connor, Evan, Jared "Requiem" – Zoe, Cynthia, Larry "If I Could Tell Her" – Evan, Zoe "Disappear" – Connor, Evan, Alana, Jared, Larry, Cynthia, Zoe "You Will Be Found" – Company" To Break in a Glove"– Larry, Evan "Only Us" – Zoe, Evan "Good for You" – Heidi, Alana, Jared, Evan, Connor"Words Fail" – Evan "So Big/So Small" – Heidi "Finale"– Company
Hello FTT Fam! It's been a minute since we've been able to connect, but never fear! We are still around, and still stirring up some wonderful things for our third season of From the Top! Unfortunately, as we know, life can sometimes be nothing but chaos, and FTT host Steven has needed to take some much needed R&R after being in two shows back to back. But never fear! We still have some **amazing** content to keep you company while you wait. Make sure to check out our other episodes about black and white stripped suited demons, or plants from another world that crave human blood. Or, check out the FTT hosts cameo on Life's But A Song pod wherever you can get your podcasts. We promise we'll be back soon. Thank you for your patience - we love you guys! If you like what you hear give us a thumbs up, follow, and rating. :) It really does help out the podcast, so thank you! Share with your friends and castmates, and never miss an episode and get notified by hitting that bell button. Thank FTT! Fam. No better followers out there that take each week… FROM THE TOP! Listen Anywhere You Enjoy Your Podcasts Goosebump Worthy Broadway Playlist - FTT Spotify Exclusive Playlist INSTAGRAM --- Send in a voice message: https://podcasters.spotify.com/pod/show/podcastfromthetop/message
Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: Understanding FTX's crimes, published by FTXwatcher on April 11, 2024 on The Effective Altruism Forum. In the aftermath of SBF's convinction, there have been a few posts trying to make sense of FTX. Some people are trying to figure out what happened, and some people are interested in trying to find clever defenses. I'm in a much more boring position: I am confident SBF is the fraud the world believes him to be. I hope this post can provide reasoning transparency on why I think this, and perhaps serve as an easy link for others who feel similarly but don't want to get bogged down in a point-by-point. Posted anonymously as some protection against future employers Googling [1]. I have divided this post into a summary of the major crimes and my basis for believing they occurred, an 'FAQ' dealing with some common misapprehensions I've seen on this forum and elsewhere, and an appendix explaining some crypto exchange basics / jargon for those who don't have a background there. Crimes Misappropriation of Funds Summary This is the big one. Customers who deposited to FTX believed their assets were being held separately to FTX's own funds. In reality, their funds were available for Alameda to use freely. For practical purposes, there wasn't any separation between these two companies; FTX's money was Alameda's money and Alameda's money was FTX's money. Since SBF was majority-owner of both Alameda and FTX, this overlap is not obviously [2] illegal, though it is highly inadvisable. However, if customer money is FTX's money and FTX's money is Alameda's money and then Alameda invests a ton of that money, all while SBF tweets to customers that their money is safe and uninvested [3], that's a problem. Detail If a troubled company has a few days to beg potential investors for a bailout before it files for bankruptcy, and it sends those investors its balance sheet so they can consider investing, and they all pass, and then the company files for bankruptcy, of course the balance sheet was bad. That is not a state of affairs that is consistent with a pristine fortress balance sheet. But there is a range of possible badness, even in bankruptcy, and the balance sheet that Sam Bankman-Fried's failed crypto exchange FTX.com sent to potential investors last week before filing for bankruptcy on Friday is very bad. It's an Excel file full of the howling of ghosts and the shrieking of tortured souls. If you look too long at that spreadsheet, you will go insane. Matt Levine, FTX's Balance Sheet Was Bad There's a ton that could be written here, but since intent seems to be the main point of contention I think the most interesting data points are the ones that suggest how big of a problem the insiders thought it was before facing criminal charges: Here's SBF's balance sheet that he circulated to investors during the panic of November 2022. As far as I know this sheet has never been verified, and it's from a convincted felon, and it was essentially a sales pitch. So it could be expected to present a perhaps-too-rosy view of the world. What it in fact presents is an unmitigated disaster. Matt Levine's reaction above was the same as my first reaction, and I recommend that piece as a whole if you want to get a vibe of how insane this was. Roughly the sheet lists assets as follows, rounding to the nearest $100m and using the 'October / Before This Week' values; note that many of these took substantial hits during the November panic. $6bn FTT $5.4bn SRM $2.2bn SOL $1.5bn 'Other Ventures' $1.2bn GDA; this is Genesis Digital Assets, a mining company $500m Anthropic $865m MAPS $600m HOOD; Robinhood shares owned personally by SBF $1.5bn of other assets of varying quality Total of $19.6bn There isn't as much colour on the liabilities, but based on the section at the bottom they were $8.9bn, all owed to custome...
Join Cryptomanran on today's episode of Crypto Banter as we dive into the next MAJOR Altcoin trade that will melt faces! If you thought meme coins were big you need to watch this live show!
This week, Adam Woods chats about beef prices, Darren Carty on ACRES payments and Aidan Brennan for his opinion on managing feed supplies.
This week, Adam Woods talks about the beef trade, Darren Carty on the opening of the BIC scheme and Aidan Brennan for his opinion around the genotyping and tagging delays.
This week, we chat to Adam Woods on the beef price slump, Darren Carty on the latest ACRES developments and Aidan Brennan discusses a need for a backstop on the nitrates derogation. Also, John O' Loughlin from Grassland AGRO talks February fertiliser.
Chris Barakat is back on the podcast to discuss his views on how to optimise body recomposition, or the process of building muscle and losing fat at the same time. Links and resources: Connect with Chris on Instagram @christopher.barakat: https://www.instagram.com/christopher.barakat/ Visit his website: schoolofgainz.com Read his free blog article, “Body Recomposition: Can you Build Muscle & Lose Fat at the Same Time?”: https://www.schoolofgainz.com/resources/body-recomposition-build-muscle-lose-fat Purchase his eBook, “The Ultimate Guide to Body Recomposition”: https://www.schoolofgainz.com/digital-products/the-ultimate-guide-to-body-recomposition Use the discount code FTT for 20% off any product on Chris's website. Sign up for “Master Your Mind, Better Your Body” webinar with Chris at this link to get an 80% discount off the original price: https://www.kjocoaching.com/offers/zpBXFvKN/checkout?coupon_code=80OFF Sign up for one on one coaching with me: https://www.fittotransformtraining.com/coaching.html Follow me on Instagram @nikias_fittotransform: http://instagram.com/nikias_fittotransform/ Visit my website: https://www.fittotransformtraining.com Sign up for my free newsletter: https://mailchi.mp/157389602fb0/mailinglist --- Send in a voice message: https://podcasters.spotify.com/pod/show/fit-to-transform/message
This week, Adam Woods talks about beef prices, Martin Merrick on the latest news on grant aid for TAMS and Aidan Brennan talks about cost saving on farms
This week we talk beef price bonuses, the impact of the lower lamb crop, the ongoing implications of the derogation cut and farmers growing less grass in 2023. We also talk to John O'Loughlin from Grassland AGRO on the early season grassland jobs.
This week, Adam Woods talks about the latest on star rating changes, Darren Carty on the most recent scheme updates and Aidan Brennan on how to calculate the recent changes for the nitrates rules.
This week Adam Wood talks about the latest on the ICBF star rating changes, Darren Carty on scheme payment updates and Aidan Brennan on what to consider if the silage pit is starting to look empty
Jamie Finn, Co-Founder and President of Securitize, discusses a range of fintech topics from the evolution of blockchain technology and the complexities of cryptocurrency scams, to the importance of investor diligence in the current crypto climate. The episode explores Securitize's growth, highlighting the challenges and successes in the blockchain space, and the crucial role of strategic decision-making in such a dynamic industry. Jamie shares his personal experiences with crypto scams, providing valuable insights into the psychology behind these frauds and offering essential advice for those navigating the fintech sector. The discussion also encompasses the integration of blockchain in mainstream applications, the shifting landscape of big tech in the blockchain arena, and critical reflections on the future of fintech and digital security. 00:00-01: Introduction and Jamie Finn's background in blockchain security. 00:01-02: Discussion on FTT token's value surge and cryptocurrency optimism. 00:02-03: Challenges in cryptocurrency, unrealistic expectations, and the Dogecoin phenomenon. 00:03-04: Shift in investor diligence and reckoning in crypto valuations post-2021. 00:04-05: Addressing fatal flaws in cryptocurrency due diligence post-FTX meltdown. 00:05-06: Experiences with fraudulent behavior in the crypto space. 00:06-07: Psychology of scammers and the importance of thorough due diligence. 00:07-08: Personal scam experience with a fake blockchain project. 00:08-09: Dealing with the aftermath of being scammed and recognizing red flags. 00:09-10: Distinguishing genuine expertise from fraud in fintech. 00:10-11: Differentiating real knowledge from pretense and the concept of 'fraud as a service.' 00:11-12: Discussion on GPT's impact and exploring new fintech opportunities. 00:12-13: Institutional interest in blockchain for back-office transformation. 00:13-14: (Incomplete transcript for this minute) 00:14-15: (Incomplete transcript for this minute) 00:15-16: NFT technology applications in ticketing and its potential in fintech. 00:16-17: Internet evolution analogy to explain blockchain's current state and potential. 00:17-18: The need for further development and ease of use in blockchain infrastructure. 00:18-19: Speculation on tech giants' responses to blockchain and changing business models. 00:19-20: Future integration of Web 3 in mainstream social media and its impact. 00:20-21: Consumer confidence in crypto via mainstream platforms; discussion on super apps. 00:21-22: Potential of Apple as a super app and the future of fintech. 00:22-23: The fintech industry's challenges and the next big technological advancements. 00:23-24: Speculation on Apple's future and the evolution of technology. 00:24-25: Debate on Apple's potential in blockchain and the role of PayPal in fintech. 00:25-26: PayPal's stablecoin and its impact on the payment system landscape. 00:26-27: The potential of PayPal and Square in blockchain and fintech. 00:27-28: Discussion on fintech liabilities and security concerns in crypto wallets. 00:28-29: The future of sophisticated financial products and asset digitization. 00:29-30: U.S. government debt, reserve currency status, and blockchain as a catalyst. 00:30-31: The role of U.S. power and the importance of digitization in asset management. 00:31-32: Future of large financial firms moving to blockchain technology. 00:32-33: Advice for young people entering the blockchain field. 00:33-34: Closing remarks and gratitude to the guest.
经过 15 天的庭审，和大约四个半小时的陪审团讨论，11月2日，SBF一案落下帷幕：陪审团作出裁决，认定SBF犯有全部七项欺诈和共谋罪。 从FTX的迅速崛起到突然崩溃，SBF的故事充满了转折和悬念。这位曾经不修边幅的少年天才，最终成为了肆意妄为的诈骗犯，将会接受法律制裁。 在这期《Web3 101》播客中，我们将深入探讨SBF庭审里的许多细节。SBF (Sam Bankman-Fried)，作为加密货币交易所FTX的创始人，他的庭审不仅仅是一场法律较量，更揭示了一个外表光鲜、手握重金帝国内里是如何混乱脆弱，一个一手打造出机密货币世界里顶尖交易所的天才团队是如何分崩离析、反目成仇。 即使你已经通过各种报道或者社交媒体知晓了SBF和FTX的故事，你还是不应该错过这期播客，和我们一起从细节里去一窥全貌。 【主播】 VIcky，资深媒体人 【嘉宾】 Derrick, Odaily供稿人，持续跟踪整理SBF庭审记录 【你将听到】 时间线 01:33 SBF从创建FTX到被判罪名成立的全时间线梳理 庭审背景 05:08 SBF面临七项罪名指控，最高可面临115年刑期 05:39 案子的法官、律师和检察官都是“最顶配” 律师：前联邦检察官，曾经担任爱泼斯坦案里麦克斯韦的辩护律师 法官：纽约南区资深法官，曾在特朗普一案件中担任法官 检察官：United States attorney，由拜登任命，来头不小 关键证人：检方一年里“策反”三位核心成员，全都站上证人席 第一位核心证人：Gray Wang 10:40 从SBF的MIT室友，到FTX联合创始人，到庭审最关键证人 11:33 证词惊动四方：SBF让他在FTX后端代码开后门，非法给Alameda 650 亿美元信贷额度 14:11 一手写出FTX核心代码的天才程序员，却极为低调 第二位核心证人：Caroline Allison 15:53 作为Alameda Research的CEO，实际上却向SBF汇报，还要被命令不能开好车 17:33 剪爆炸头、穿西装，SBF用新的出庭形象和过去做切割 18:23 FTX遭遇信任危机时，她被指使打造7份虚假财务报表 20:44 面临资金崩盘，心里崩溃的她遭遇SBF“PUA” 第三位核心证人：Nishad Singh 21:55 FTX工程部主管，却被SBF恐吓 22:26 爆出猛料：SBF热衷用钱拉拢“小李子”等名人，甚至政治献金 22:56 在巴哈马住着奢华别墅，内心却惶惶不安 23:47 多位高管参与政治献金 消失的Alameda Research联席CEO Sam Trabucco 24:58 在FTX出事前三个月离职，是巧合还是先见之明 SBF父母 26:01在另外的案件里和SBF一起被起诉，SBF的父母也并非完全不知情？ SBF站上证人席：荒谬达到顶峰 27:25 虽然成功率极低，SBF还是毅然放弃第五修正案的权利，自己站上证人席 29:01 持续三天，第一天还来了次“彩排” 30:04 SBF说了140次的“我不知道”，连法官都看不下去，出言“嘲讽” 35:16 SBF胡乱抢话，自己的律师急得跳脚 39:25 SBF过去的高调曝光和频繁发推，在法庭上打了他自己的脸 41:12 检方高超的盘问技巧，让SBF频频自相矛盾，成为他自己最大的反方“证人” 陪审团裁决 44:10 铁证如山，陪审团飞速做出“有罪”裁决 45:37 法官负责量刑，SBF在狱中提供加密货币投资建议 FTX后续 46:54 FTX有望重启，三家重量级公司在竞标 48:33 FTX前员工各奔东西，不少出来创业 49:26 FTX烂摊子总结：混乱的内部制度，太多不受监管的金钱，才会出现“一个表情包就可以批准放款”的荒唐事 【案件概述】 11月2日， FTX交易所前首席执行官Sam Bankman-Fried 被判 7 项罪名成立。 7项罪名分别是：滥用存放在 FTX 的数十亿美元客户资金、误导投资者和贷方以及共谋诈骗。其中包括：两项电汇欺诈罪、两项共谋电汇欺诈罪、一项证券欺诈罪、一项商品欺诈共谋罪和一项共谋洗钱罪。每项罪行最高可判处 5 至 20 年监禁，因此根据所有罪行，SBF可能面临最高115年监禁。 在2024年3月28日举行的下一次听证会上，SBF将被宣判刑期。政府检察官将建议量刑，但最终决定权在法官手中。 FTX交易所相关案件也被认为是美国最大的诈骗案之一。 【关键人物背景】 SBF：全名Samuel Benjamin Bankman-Fried，加密货币交易所FTX联合创始人，也是此次庭审的当事人 Gary Wang：FTX联合创始人，SBF在MIT的室友，也是第一个和检方合作的SBF核心小圈子里的人物 Caroline Allison：Alameda Research的CEO，也是SBF的前女友 Nishad Singh：FTX的工程主管 Sam Trabucco：Alameda Research的联席CEO，在FTX出事前三个月离开了公司 Ryan Salame：FTX 巴哈马联合首席执行官 Ryan Salame SBF父母：Barbara Fried，SBF母亲，斯坦福大学法学院教授；Joe Bankman， SBF父亲，斯坦福大学法学教授 【后期】 AMEI 【BGM】 Mumbai — Ooyy 【Shownotes】 Vicky 【在这里找到我们】 收听渠道：苹果｜小宇宙 海外用户：Apple Podcast｜Spotify｜Google Podcast｜Amazon Music 联系我们：podcast@sv101.net
This week Adam Woods talks about the Suckler Index, Darren Carty on the very tight scheme deadlines and Aidan Brennan on the ongoing fallout from the ‘nitrates' debacle.
Dark Forest（以下简称《黑暗森林》），一款全链上游戏，在Web3圈内掀起了巨大的声浪。 它的玩家不算特别多，但是它以游戏的方式，对区块链技术和去中心化理念进行了深入探索，并且在玩家和开发者的深度参与后，又以更快的速度进化，从一款“很难玩”、“门槛超高”的一个去中心化的不完全信息游戏，变成了许多人眼中“区块链上最好的游戏”：它带领玩家进行不可预知的探索，在由区块链支持的广阔宇宙，征服周围隐藏的行星，同时免受潜伏对手的攻击。 这款科幻游戏以人们以前从未见过的方式应用了 ZK-SNARKS（零知识密码学）等Web3技术。《麻省理工科技评论》的一篇文章指出，《黑暗森林》的影响和创新远远超出了其独特的游戏体验，指向“元宇宙的新愿景”，其中这些技术创新可以培育透明的区块链并托管自治的去中心化数字世界。 一款游戏，为什么能获得这么高的评价，它的魅力在哪里？ 这次访谈，我们请到了Erica来作为我们的嘉宾，她是一位在游戏的官方轮竞技排名前十的玩家。在这次访谈中，Erica深入讲述了游戏的本质和它的科幻外延，还有它所探索和推动的Web3技术；也介绍了主创团队的现状，还有这款游戏衍生出来的创业生态和技术社区。 但《黑暗森林》到底是什么样的游戏？它如何吸引并留住一群对它忠实的玩家？为什么玩家们愿意自掏腰包，不求任何经济回报，来支持这个游戏的发展？这款基于零知识证明技术构建的去中心化MMORTS太空征服游戏，如何扩展了Web3技术的应用边界？他们的主创团队后来怎么基于它，打造了一个创业生态？这期播客会给你答案。 （本期播客还有一个隐藏小福利，别忘了解锁） 【主播】 VIcky，资深媒体人 【嘉宾】 Odaily撰稿作者，SBF庭审实录 【你将听到】 游戏介绍 02:02 一句话概括《黑暗森林》：一款基于零知识证明技术去构建的去中心化 MMORTS 的太空征服游戏 03:05 苦等邀请码，Erica是如何“入坑”的？ 03:53 游戏的Gas fee是一个多元博弈的结果：链、对手、内卷程度和市场波动都在决定Gas fee高低 06:15 玩家追求的回报不是金钱，而是荣誉和贡献 08:05 游戏里的经济闭环：消耗Gas fee，获得NFT；但肝出来的高名次NFT，没人舍得卖 “三体法则”贯穿整个游戏 08:46 受大刘《三体》启发，《黑暗森林》游戏的诞生 10:28 用“黑暗森林”法则解构这款游戏： 生存是文明的第一需求——玩家最基础的任务就是生存 文明的自我增长和扩张，是一个必然的事情——战争迷雾设计，倒逼玩家进行战争 15:05 全链上游戏的军备竞赛：拼算力、砸Gas fee，自动化高频交易，专属使用的RPC 18:24 有玩家为了跑自己的节点，质押Stake，成本十多万美金，游戏变成“星际大战” 20:13 跑节点+掌握技术，在游戏里可以变成神 22:35 联盟是不能联盟的，黑暗森林法则下的玩家，互相猜疑才是“天性” 25:34策略性的欺骗、钻漏洞、做假地图——生存是第一法则 26:37 游戏里也有革命友谊：战友成为好朋友，游戏外一起组团做项目、做工作室 29:54 游戏也在进化：从要写代码玩，到引入柏林噪声算法 31:02 现在的玩家少了很多？游戏的轮次玩法和高需求，决定了它没有办法永远“红火”下去 33:43 乌克兰玩家因为游戏赛事坚守，结果错过逃离战争的最佳时机 《黑暗森林》的衍生生态和技术探索 34:43 游戏的开发者现在在干什么：社区、创业、投资 37:23 离开《黑暗森林》，开发者们开始尝试链下游戏 38:43和AI结合，《黑暗森林》还在游戏里接入GPT3；AI和全链游戏结合的案例越来越多 41:10 AI加区块链：科幻小说《三进数世界》照进现实 41:54 自主世界和叙境：从科幻的角度去理解《黑暗森林》和区块链游戏 46:38 Erica原来有一个隐藏身份 47:50 《黑暗森林》在测试区块链的不可能三角吗？它更多是区块链逻辑跟游戏循环逻辑矛盾倒逼出来的一个选择 55:19 黑暗森林这款游戏是在验证跟帮助零知识证明技术的发展, 打造一个实验空间 58:25 游戏的未来：当游戏走向成熟，它已经完成了最重要的历史使命 62:23 黑暗森林面对的批评：它运转在一个非常中心化的服务器上，所以被质疑是“Web 2.5 游戏” 64:43 游戏也许不会继续存在下去，但是玩家永存 赠书活动 65:40 本期隐藏福利 我们将随机抽取五位听众，赠送八光分文化出品的著名科幻作家格雷格·伊根所著的《伊根三重奏》这套科幻小说集（里面包含节目中提到的《三进数世界》）。感兴趣的听众可以在小宇宙、苹果播客或者是 Twitter 上来给我们留言，也可以给我们写邮件到 Podcast @SV101.net https://i.postimg.cc/GpKSs3Zq/DSC9510.jpg 【名词解释】 零知识证明 零知识证明（Zero-Knowledge Proof, ZKP）是一种在不提供任何有用信息的情况下证明某个陈述为真的加密方法。它的核心是能够证明你知道某些信息，而不泄露那个信息本身是什么。在Web3和区块链技术中，零知识证明被用来增强隐私和安全性。例如，在一个区块链交易中，你可能想要证明你有足够的资金来进行这笔交易，但你不想公开你的账户余额，使用零知识证明，你可以让网络中的其他参与者相信你有足够的资金，而无需透露你的确切资金数额。 ZK-SNARKS： 它的全称是zero-knowledge succinct non-interactive argument of knowledge.零知识简洁非交互式知识论证，是一种加密证明技术，它允许一方（证明者）向另一方（验证者）证明拥有某个信息，而无需透露该信息本身，保证隐私性的同时还能确保信息的准确性。这一技术在区块链领域尤其重要，因为它可以用来在不透露交易细节的情况下验证交易，从而提供更高的隐私性和安全性。 MNORTS： 全称为Multiplayer Online Real-Time Strategy. “大型多人在线即时战略游戏”。这个术语通常用于描述一类网络游戏，其中包括大量玩家在实时的环境中管理资源、部署单位并与对手进行策略竞争。 自主世界autonomous world 在科幻概念中，"自主世界"（autonomous world）通常是指一个高度先进且自给自足的环境，这样的世界能够在没有人类直接干预的情况下运作。在Web3和区块链的语境中，通常指的是一个去中心化且自我运行的数字生态系统或环境。这样的世界依赖于智能合约和去中心化自治组织（DAO）来维持秩序和运行规则，而无需中央控制机构的干预。在这样的环境中，代码是法律，参与者通过共识机制共同作出决策，以此促进一个公平、透明的生态系统发展。 NFT NFT是“非同质化代币”（Non-Fungible Token）的缩写。它是一种基于区块链技术的数字资产，具有独一无二的属性和所有权证明。不同于比特币这样的同质化代币（每个单位都是相同的且可互换的），每个NFT都是唯一的。 DAO DAO 是 "Decentralized Autonomous Organization" 的缩写，中文意为“去中心化自治组织”。它是一种基于区块链技术的组织形式，使用智能合约来自动执行规则和协议，无需中心化的管理层或者传统的企业结构。 xDai 在技术上，xDai 是一个以太坊兼容的区块链，这意味着它可以运行智能合约并支持以太坊生态系统中的工具和应用程序。它特别适用于需要快速和低成本交易的场景，比如日常交易和微支付。 黑暗森林法则 黑暗森林法则这个概念来自刘慈欣原著小说《三体》. 可简单理解为，一旦某个宇宙文明被发现，就必然遭到其他宇宙文明的打击。 基本公理：生存是文明的第一需要；文明不断增长和扩张，但宇宙中的物质总量保持不变。 不完全信息游戏 不完全信息游戏"（Imperfect Information Game）是一种游戏理论中的概念，指的是在游戏过程中，参与者不能完全了解游戏的所有元素和信息。在这类游戏中，玩家在做出决策时并不知道其他玩家的具体情况或游戏的某些重要信息。 战争迷雾 "战争迷雾"（Fog of War）是一个军事术语，原本用来描述在战争中，由于信息不完全，指挥官对战场情况的不确定性。在现代，这个概念被广泛应用于战略游戏中，指的是游戏地图上未探索或当前无法视察的区域。 在很多实时策略游戏（RTS）和回合制策略游戏（TBS）中，战争迷雾使玩家不能即时看到整个游戏地图的情况，只能看到自己单位的视野范围内的部分。这要求玩家探索地图来揭开迷雾，同时也为游戏增加了战略深度，因为玩家必须在有限的信息下做出决策。迷雾中可能隐藏着敌人单位或者重要资源，玩家需要派遣侦察单位或使用其他手段来获取更多信息。 RPC RPC代表远程过程调用（Remote Procedure Call），是一种计算机通信协议。在区块链领域，RPC通常用于指代节点提供的API服务，允许外部应用程序进行数据查询和交易提交。RPC接口对于区块链应用的运作至关重要，因为它们提供了一种方法，让开发者能够与区块链网络通信而无需运行一个完整的节点。这大大降低了参与区块链开发的门槛，并使得用户可以通过轻量级客户端与区块链进行交互。 MetaMask MetaMask 是一个流行的加密货币钱包和网关，允许用户通过浏览器或移动应用程序与以太坊区块链及其生态系统互动。它提供一个平台，使用户能够存储和管理账户密钥、进行交易、发送和接收以太坊及代币，并通过其内置浏览器访问去中心化应用（dApps）。 质押Stake 在区块链和加密货币的领域中，"质押"（Staking）是一个重要的概念。质押指的是持有者将自己的加密货币锁定或保留在一个钱包中，以支持网络的运作，例如处理交易、验证操作等。通过这种方式，持有者可以参与区块链网络的共识机制，尤其是在采用权益证明（Proof of Stake，简称PoS）协议的网络中。 PoW PoW代表“工作证明”（Proof of Work），是一种用于加密货币的共识算法，尤其是在比特币和许多其他早期加密货币中。它要求参与者（矿工）使用他们的计算资源来解决复杂的数学问题。解决问题的过程被称为“挖矿”，并且当一个问题被解决时，它证明了参与者投入了一定的工作量。 全链上 "全链上"（On-Chain）指的是所有交易或合约执行完全在区块链上公开记录和验证的过程。这包括交易的创建、验证、执行以及最终状态的确认。在全链上操作的特点是透明、不可篡改、永久存储在区块链上，可供任何人查询。 柏林噪声算法 柏林噪声算法（Perlin Noise Algorithm）是由肯·柏林（Ken Perlin）在1980年代初期发明的一种梯度噪声生成算法。它经常用于计算机图形学中生成自然看起来的纹理、形状和地形。柏林噪声是一种更加自然的噪声形式，与其他形式的噪声相比，它可以产生更加平滑和连续的随机纹理。在游戏开发和电影特效中，柏林噪声算法常用于模拟各种自然现象，如云彩、山脉、火焰、水面等的动态效果。它也可以用于生成2D和3D的程序化纹理和模型，比如在虚拟世界中生成复杂的地形。柏林噪声的一个关键特点是其可重复性和相对的一致性，这意味着它可以在不同尺寸和分辨率下生成看起来相似的纹理，这使得它在多种应用中非常有用。此外，通过调整算法的参数，开发者可以控制噪声的粗糙度和细节级别，从而创造出多样化的视觉效果。 链下游戏 "链下游戏"（Off-Chain Gaming）指的是游戏逻辑或游戏的某些部分不在区块链上运行，而是在传统服务器或本地设备上处理。这种游戏可能会使用区块链来管理资产的所有权，如使用NFT来代表游戏内的物品，但游戏的实时处理和状态管理是在链下完成的。 不可能三角在经济学和其他领域中，“不可能三角”是一个理论模型，用来说明三个理想化目标通常无法同时实现。在不同的背景下，不可能三角有不同的具体含义。在区块链领域，不可能三角经常用来描述一个系统无法同时实现以下三个属性：去中心化：系统不依赖任何中心化的控制点，有助于防止审查和单点故障。安全性：系统能够抵抗攻击和错误，保护资料不被篡改和丢失。可扩展性：系统能够处理大量的交易和参与者而不降低性能。 三进数世界 《3-adica》，科幻小说，作者为格雷格·伊根。故事发生在一个庞大的在线多人游戏中，其中有自主意识的角色Sagreda和Mathis，利用操作系统中的漏洞来逃离束缚、寻求自由。 叙境 Diegetic，电影学里面的一个理论。在银幕上出现声源的声音我们称为画内音，并且从属于画内所表现的真实事物。它的反面是非叙境的(non-diegetic），意指不包含在电影世界以内的任何因素，像旁白、演职员表或烘托气氛的音乐和音效，以及那些不是源自电影世界的一切。 滴答合约 在滴答链中，有一个特殊的智能合约叫做“滴答合约”，每个区块都会被协议自动调用。这允许其他智能合约在特定的时间或间隔自动触发，无需用户发送交易。 RTS 即时战略游戏（Real-Time Strategy Game），简称RTS。是策略游戏（Strategy Game）的一种。游戏是即时进行的，而不是策略游戏多见的回合制。 【游戏主创团队现状】 Alan Luo 因为学业原因退出，但仍然在社区里做贡献，包括曾经把ChatGPT 3 接入到游戏中，做了非常早的全链游戏里接入人工智能技术的一个尝试 。 Brian Gu（Gubsheep） 现在是 0xPARC Foundation 的联合创始人，0xPARC Foundation是一个专注于开发零知识加密应用的开源基础设施的基金会，它既做教育也做孵化。他们孵化了一个叫 MUD 的全链上游戏引擎，MUD是一个构建复杂应用的以太坊应用程序的框架，使开发者可以专注于应用程序的功能。它标准化了链上数据的存储方式。有了这种标准数据模型，MUD 可以提供所有网络代码来同步合约和客户端状态。 Scott Sunarto Web3 游戏工作室 Argus Labs创始人 。 Argus Labs 今年完成由 Haun Ventures 领投的 1000 万美元种子轮融资，并同步公布专为链游设计的 Layer 2 区块链“世界引擎（World Engine）”。World Engine 是一款专为链游设计的 Layer 2 区块链，帮助游戏开发者构建和定制自己的开放和可互操作的游戏世界。通过 World Engine 的 Layer 2 分片架构，每款游戏都可以拥有自己的水平可扩展区块链。 Ivan Chub 目前是 0xPARC 的成员，近期和 Gubsheep 一起参与了基于零知识证明的个人密码管理器 ZuPass 和游戏 Frogcrypto 的开发工作。 【后期】 AMEI 【BGM】 Mumbai — Ooyy 【Shownotes】 Vicky 【在这里找到我们】 收听渠道：苹果｜小宇宙 海外用户：Apple Podcast｜Spotify｜Google Podcast｜Amazon Music 联系我们：podcast@sv101.net
We get a very quick update on the OpenAI/Sam Altman situation and then turn our attention to the blockbuster news that Binance and its co-founder, Changpeng "CZ" Zhao, have entered a guilty plea on charges that include money laundering. What does this mean for Binance in particular and cryptocurrency in general? See omnystudio.com/listener for privacy information.
This week we chat with Adam Woods who discusses the results of a suckler farmer survey, Darren Carty on feeding lambs indoors after the wet spell and Aidan Brennan on nitrates and Dairy Day 2023
This week Adam Woods talks suckler index scheme, Darren Carty on scheme payments and updates and Aidan Brennan on preparations for Dairy Day. Adam Wood also talks to John O' Loughlin on soil issues at this time of year
Possible SEC approval for a Bitcoin spot ETF tomorrow, Gary Gensler's impact on FTX and FTT token surge, SAG-AFTRA strike resolution amid AI concerns, Ark's significant Hood shares acquisition, and Yuga Labs' response to ApeFest attendee concerns about UV-emitting lights.________News Links
Securities and Exchange Commission (SEC) Chair Gary Gensler suggested the agency would be open to the exchange resuming operations. FTT, the native token of FTX, has surged 90% in price following Gensler's comments yesterday at the DC Fintech Week conference.~This episode is sponsored by Newconomics2023~Newconomics 2023 Use Promo Code PB50 for 50% OFF ➜ https://bit.ly/Newconomics202300:00 intro00:20 Sponsor: Newcononmics 2023 Event01:35 BTC hits $38K02:42 SEC/Grayscale to push ETF03:34 ETF not priced in?04:52 BTC ETF must be a done deal05:36 BTC ETF perfect timing06:39 Gary Gensler wants to bring back FTX07:53 Brad Garlinghouse talks about FTX08:53 Brad talks about Coinbase10:11 Brad talks about taking to the Supreme Court12:00 SEC Facing Funding Block13:07 JP Morgan "crypto rally over"14:45 Hollywood strike over15:34 outro#FTX #Crypto #Bitcoin~Gary Gensler Wants To Relaunch FTX
This is your FTX on Trial podcast and this is an update for November 4, 2023.Sam Bankman-Freed, the founder of the bankrupt cryptocurrency exchange FTX, was found guilty on all seven counts of fraud and conspiracy on Thursday, November 3, 2023, in a New York federal court. The charges included wire fraud, conspiracy to commit wire fraud, securities fraud, conspiracy to commit securities fraud, commodities fraud, conspiracy to commit commodities fraud, and money laundering.The verdict came after a two-week trial in which the prosecution presented evidence that Bankman-Freed had orchestrated a massive scheme to defraud FTX customers and investors. The prosecution alleged that Bankman-Freed had used customer funds to make risky investments and to prop up his own cryptocurrency hedge fund, Alameda Research. He also allegedly lied to investors about the financial health of FTX.Bankman-Freed's defense team argued that he had made mistakes but that he had not intended to commit fraud. They also argued that the prosecution had failed to prove that Bankman-Freed had personally profited from his actions.The jury deliberated for just a few hours before reaching a unanimous verdict. Bankman-Freed was immediately taken into custody and is scheduled to be sentenced on March 28, 2024. He faces a maximum sentence of up to 115 years in prison.The conviction of Sam Bankman-Freed is a major victory for the government in its crackdown on cryptocurrency fraud. It is also a major setback for the cryptocurrency industry, which has been plagued by scandals in recent years.Sentencing InformationBankman-Freed is scheduled to be sentenced on March 28, 2024, by US District Judge Lewis Kaplan. The maximum sentence for the charges against Bankman-Freed is 115 years in prison, but it is unlikely that he will receive such a long sentence.The judge will consider a number of factors when determining Bankman-Freed's sentence, including the severity of the crimes, his lack of criminal history, and the cooperation he has provided to the government. It is possible that Bankman-Freed could receive a sentence of several years in prison, but it is also possible that he could receive a suspended sentence or probation.The outcome of Bankman-Freed's sentencing hearing will be closely watched by the cryptocurrency industry and by the public. It will be a test of the government's commitment to holding cryptocurrency executives accountable for their actions.
Sam Bankman-Fried Trial: Defense Rests, Closing Arguments to BeginThe defense team for Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, rested its case on Tuesday, October 31, 2023, after Bankman-Fried testified for the fourth and final day.Bankman-Fried's testimony was central to his defense, as he sought to convince the jury that he was not aware of the fraudulent activities that led to the collapse of FTX. He testified that he was focused on the high-level vision of the company and that he trusted his deputies to handle the day-to-day operations.Bankman-Fried also testified that he did not learn that Alameda Research, a trading firm that he also founded, had borrowed billions of dollars in customer funds from FTX until the fall of 2022, months before the exchange's collapse.The prosecution's case against Bankman-Fried is based on the allegation that he knowingly used customer funds to cover losses at Alameda Research and to fund other risky investments. The prosecution has presented evidence that Bankman-Fried lied to investors about the financial health of FTX and that he concealed the fact that Alameda Research was borrowing customer funds.Highlights from Bankman-Fried's testimony in the past 24 hours:Bankman-Fried testified that he was not aware of the fraudulent activities that led to the collapse of FTX.He said he was focused on the high-level vision of the company and that he trusted his deputies to handle the day-to-day operations.Bankman-Fried also testified that he did not learn that Alameda Research, a trading firm that he also founded, had borrowed billions of dollars in customer funds from FTX until the fall of 2022, months before the exchange's collapse.What to expect next:After the defense rests its case, closing arguments will begin. The jury is then expected to begin deliberating the verdict.Bankman-Fried faces eight counts of criminal fraud, including wire fraud, securities fraud, and money laundering. If convicted, he could face up to 20 years in prison on each count.Analysis:Bankman-Fried's testimony was a critical moment in his trial. He sought to portray himself as a young and inexperienced entrepreneur who made mistakes but did not commit any crimes.However, the prosecution's cross-examination of Bankman-Fried was effective in challenging his claims. The prosecution presented evidence that Bankman-Fried was aware of the risks that he was taking with customer funds and that he lied to investors about the financial health of FTX.The jury will now have to decide whether to believe Bankman-Fried's testimony or the prosecution's case. The outcome of the trial will have a significant impact on the cryptocurrency industry and on Bankman-Fried's personal future.
This is the FTX on Trial podcast, and this is your update for MOnday, October 23rd.Sam Bankman-freed, the co-founder and former CEO of the bankrupt cryptocurrency exchange FTX, is on trial in federal court in Manhattan on charges of wire fraud, conspiracy to commit wire fraud, and conspiracy to commit securities fraud. He is accused of misappropriating billions of dollars in customer funds to prop up his own businesses and investments. Bankman-freed has pleaded not guilty to all charges.Caroline Ellison's testimony: Ellison, the former CEO of Alameda Research, a hedge fund that Bankman-freed founded, testified against him in early October. She admitted to knowingly misappropriating customer funds from FTX to prop up Alameda. She also said that she and Bankman-freed engaged in a "fraudulent scheme" to manipulate the price of cryptocurrency FTT.Defense's arguments: Bankman-freed's defense team has argued that he did not knowingly commit fraud. They have said that he was inexperienced and made mistakes, but that he always intended to do what was right for his customers. They have also argued that the government's case is based on "speculation" and "conjecture."Judge's warning: Judge Lewis Kaplan, who is presiding over the trial, has warned both sides to do better in their questioning of witnesses. He has said that he is "concerned" about the level of "disrespect" that has been shown in the courtroom.Recent DevelopmentsJury instructions: On October 20, the prosecution and defense submitted their proposed jury instructions to Judge Kaplan. The jury instructions are important because they tell the jury what the law is and how to apply it to the facts of the case.Trial schedule: The trial is scheduled to resume on October 26. Prosecutors are expected to rest their case on that day. The defense will then present its case. The trial is expected to last several weeks.The Sam Bankman-freed trial is closely watched by the cryptocurrency industry and by the public at large. The outcome of the trial could have a significant impact on the future of cryptocurrency regulation.Here are some additional details about the trial that have been reported in the news:On October 20, prosecutors compared one of the defense's arguments to a scene in the 1994 film "Dumb and Dumber." The defense had argued that IOUs are as good as money. Prosecutors said that this argument was "absurd" and that it showed that the defense was "desperate."On October 20, Judge Kaplan ripped into lawyers from both sides, telling them to do better and to communicate more with each other. He said that he was "concerned" about the level of "disrespect" that had been shown in the courtroom.On October 21, the trial was paused for a week due to a scheduling conflict. The trial will resume on October 26.The next major event in the trial will be the prosecution resting its case. This is expected to happen on October 26. The defense will then present its case. The trial is expected to last several weeks.Thank you for listening and make sure you check out the Google on Trial podcast which provides updates on the news and events surrounding the United States versus Google antitrust trial.Thank you for listening!
Ishan Bhaidani is Chief Revenue Officer and Co-Founder of Web3 Marketing Agency, Scrib3. A year ago, long before most had concerns about Sam Bankman-Fried, Ishan Tweeted: "I'm taking all of my capital out of FTX and going to short $FTT… something shady is going on at FTX." Now, with the SBF trial under way, we figured the timing was perfect to chat with the guy who called the chaos early. -- Our first Podcast NFT Collection, "The First 100," has launched! Official Secondary Link: https://opensea.io/collection/show-me-the-crypto-the-first-100 -- Follow Ishan on Twitter: @Ishanb22 Follow Scrib3 on Twitter: @scrib3_co -- Follow us on the socials: Twitter: @showcrypto TikTok: @showmethecrypto Instagram: @showmethecryptopodcast -- *Any financial compensation we receive will always be clearly identified as an advertisement or sponsored content. We don't accept payment to feature guests, and we don't accept payment to influence the coins/projects we discuss on Show Me The Crypto. Any ads will be clearly identified during the show, and information on our partners will be featured in the show notes.
Caroline Ellison, former CEO of Alameda Research and SBF's ex-partner, took the stand to reveal the alleged financial mismanagement at Alameda and FTX, which she claimed was at Bankman-Fried's direction. The cross examination of Gary Wang finally began to show how SBF's lawyers plan to defend him, though Wang largely appeared to be a yes man who simply trusted and followed his friend and co-founder. Ellison's revelations included Alameda's hidden trading of FTT to prop up its price, her warnings to SBF about Alameda's inability to pay back its lenders if he put billions more into venture investments, and his views on risk and “expected value.” For instance, she claimed he said if, with a coin toss came up tails and would mean Earth's destruction, he would toss the coin if there it was twice as likely that it would more than double prosperity on Earth. However, her testimony seemed designed to preemptively rebut the defense's potential argument that Alameda needed to borrow customer funds because she had not hedged. Catch up on Unchained's previous coverage: Sam Bankman-Fried Trial: Here's Everything That Happened So Far SBF Trial, Day 1: Possible Witnesses Include FTX Insiders, Big Names in Crypto, and SBF's Family SBF Trial, Day 2: DOJ Says Sam Bankman-Fried ‘Lied' While Defense Claims His Actions Were ‘Reasonable' SBF Trial, Day 3: Why a True Believer in FTX Flipped Once He Learned One Fact SBF Trial, Day 4: SBF's Lawyers Annoy Judge Kaplan, While Wang Reveals Alameda's Special Privileges Did Sam Bankman-Fried Have Intent to Defraud FTX Investors? Here's How Sam Bankman-Fried's High-Stakes Trial Could Play Out SBF Trial: How Sam Bankman-Fried's Lawyers Might Try and Win His Case The High-Stakes Trial of Sam Bankman-Fried Begins: What to Expect In the SBF Case, Elite Corruption Is What's Really on Trial Learn more about your ad choices. Visit megaphone.fm/adchoices
Laura reports on the testimony of Gary Wang on Thursday, who described Alameda's special privileges that were programmed into FTX's code as early as July 2019, a few months after the exchange launched. These privileges included Alameda's ability to have a negative balance on its FTX account. This meant that Alameda was able to transfer and withdraw more funds than it had, essentially “borrowing from the exchange.” Those funds, Wang said, belonged to FTX customers, and at the time that FTX declared bankruptcy, Alameda had borrowed $8 billion from the exchange. Wang said Alameda had a $65 billion line of credit — far higher than any other customer on the exchange. He also revealed details about FTT, the cryptocurrency that FTX had created, and the concerns that were raised about how the tokens were allegedly used to boost Alameda's balance on the site. If you need to catch up, don't miss our recent coverage on the trial: SBF Trial, Day 3: Long-Time Friend Says, ‘FTX Defrauded All of Its Customers' SBF Trial, Day 2: DOJ: Sam Bankman-Fried ‘Lied' His Way to ‘Wealth, Power, and Influence' SBF Trial, Day 1: Possible Witnesses Include FTX Insiders, Big Names in Crypto, and SBF's Family Here's How Sam Bankman-Fried's High-Stakes Trial Could Play Out SBF Trial: How Sam Bankman-Fried's Lawyers Might Try and Win His Case The High-Stakes Trial of Sam Bankman-Fried Begins: What to Expect In the SBF Case, Elite Corruption Is What's Really on Trial Learn more about your ad choices. Visit megaphone.fm/adchoices
Welcome to The Nonlinear Library, where we use Text-to-Speech software to convert the best writing from the Rationalist and EA communities into audio. This is: "Going Infinite" - New book on FTX/SBF released today + my TL;DR, published by Nicky Pochinkov on October 4, 2023 on The Effective Altruism Forum. Just finished new book about FTX and Sam Bankman-Fried, launched today: "Going Infinite: The Rise and Fall of a New Tycoon" by Michael Lewis. The book itself is quite engaging and interesting, so I recommend it as a read.The book talks about: Early life and general personality Working at Jane Steet Capital Early days at Alameda and the falling out A refreshed alameda The early FTX days and actions of Sam Post-FTX days, and where did the money go? The book talks a decent bit about effective altruists in both good and bad light. Some particularly interesting anecdotes and information according to the book (contains "spoilers"): In early Alameda days, they apparently lost track of (as in, didn't know where it went) $ millions of XRP tokens, and Sam was just like "ehh, who cares, there is like 80% chance will show up eventually, so we can just count it as 80% of the value". This + general disorganisation + risk taking really pissed off many of the first wave of EAs working there, and a bunch of people left. Eventually, they actually "found" the XRP: it was in some crypto exchange they were using, and some software bug meant it was not labelled correctly, so they had to email them about it. Where did all the lost FTX money go? At FTX the lack of organisation was similar, but much larger in scale. Last chapter has napkin calculations with in-goings vs out-goings for FTX. (Edit: See this below). While they clearly spent and lost lots of money, some of the assets were just lost track of because didn't care to keep track because other assets were so large that these were not that important/urgent. So far "the debtors have recovered approximately 7 billion dollars in assets, and they anticipate further recoveries", which could be an additional approx $7.2Billion to still be found (which might be sold for less as much of it non-cash, but at least $2Billion?), not even including potential clawbacks like investment into Anthropic. A naive reading suggests there could have been enough to repay all the affected customers? EDIT: here is the "napkin math" given in the book of combined FTX+Alameda ingoings and outgoings over the course of a few years. So the question in the final chapters of the book is accounting for the $6 Billion discrepancy. Clearly the customer funds were misused by Sam and Alameda, and the numbers are not to be taken at face value (for example, the profits at Alameda could be questioned), but possibly worth viewing at as a possible reference point for those interested in them but not willing to read the whole book:Money In: Customer Deposits: $15 billion Investment from Venture Capitalists: $2.3 billion Alameda Training Profits: $2.5 billion FTX Exchange Revenues: $2 billion Net Outstanding Loans from Crypto Lenders (mainly Genesis and BlockFi): $1.5 billion Original Sale of FTT: $35 million Total Money In: $23 billion Money Out: Return to Customers During the November Run: $5 billion Amount Paid Out to CZ: $1.4 billion (excluding $500 million worth of FTT and $80 million worth of BNB tokens) Sam's Private Investments: $4.4 billion (with at least $300 million paid for using shares and FTX) Loans to Sam: $1 billion (used for political and EA donations to avoid stock dividends) Loans to Nishad: $543 million (for similar purposes) Endorsement Deals: $500 million (potentially more, including cases where FTX paid endorsers with FTX stock) Buying and Burning Their Exchange Token FTT: $600 million Out Expenses (Salaries, Lunch, Bahamas Real Estate): $1 billion Total Money Out: $14.443 Billion After the Crash: $3 billion on hand. $450 million stolen in hack Here are the largest manifold markets on FTX repayment I could find f...
From “hush money” allegations to a prospective FTX relaunch, it's been a crazy week for those following the legal saga of Sam Bankman-Fried's collapsed crypto empire. Perhaps few are following it more closely than 507 Capital founder Thomas Braziel, who specializes in the trading of bankruptcy claims. He explains the significance of a spate of recent headlines and shares newsworthy tidbits from his meeting with new FTX honcho John J. Ray III. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: what the Daniel Friedberg lawsuit revealed about the whistleblowers of FTX how FTX used allegedly false claims in its Series C funding round whether Friedberg's former law firm, Fenwick & West, will suffer legal consequences how John Ray is prosecuting the allegedly fraudulent transactions made by FTX what stood out to Thomas in his personal dealings with John Ray what the timeline is for filing a reorganization plan for FTX what the odds are of an FTX 2.0 relaunch, according to Thomas why Thomas says that FTT won't play a role in the potential FTX recovery whether the decision to redact the identities of FTX customers was right Thank you to our sponsors! Crypto.com Proton Railgun DAO Guest Thomas Braziel, Founder of 507 Capital Previous appearances on Unchained Will FTX Customers Ever Recover Their Assets? Two Insolvency Experts Weigh In Will Celsius Survive the Bankruptcy Process? How Crypto Bankruptcy Claims Buyers Will Profit From the Collapse of FTX Links Previous coverage of Unchained on Sam Bankman-Fried and FTX: The Chopping Block: Was FTX a Scam From the Very Beginning? How Much Prison Time Is FTX's Sam Bankman-Fried Facing? Why the Legal Process for FTX and Sam Bankman-Fried Could Take Years The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He? Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion Is the Collapse of Crypto Lending Over, or Is It Just Starting? Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX? The Chopping Block: Why Lenders Didn't Liquidate Alameda When It Was Underwater Erik Voorhees and Cobie on Why FTX Loaned Out Customers' Assets The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? Sam Bankman-Fried on How to Prevent the Next Terra and 3AC CoinDesk: FTX Customers Have Until End-September to Submit Bankruptcy Claims Unchained: FTX Sues Former Compliance Chief Who Allegedly Silenced Whistleblowers FTX Stops Sale of $500 Million Stake in AI Firm Anthropic: Report FTX Recovers $7 Billion in Assets in Liquid Assets WSJ: FTX Begins Talks on Reboot Amid Regulatory Crackdown on Crypto Exchanges Bloomberg: Bankman-Fried's FTX Halts Sale of $500 Million AI Startup Anthropic Stake Learn more about your ad choices. Visit megaphone.fm/adchoices
This week Michelle & Laura are taking you on a date to the desert. But don't worry, you can leave your white dress and high heels at home, just bring a lasso. There will be snakes. There will be hot archeologists. There will be a lot of confusion about the plot line. Listen in to Episode 2 of FTT's SoS season, Indy Jones and the Raiders of the Lost Ark
200churches Podcast: Ministry Encouragement for Pastors of Small Churches
On the eve of Saddleback's ouster from the Southern Baptist Convention, Rick Warren marched through a long conversation with me and Jonny. Rick talks about that in this episode. It's obvious he's not happy about it, but as always he remains gracious. Undaunted by rejection, Rick is focused on his new calling, as the leader of FTT, Finishing The Task. He is pushing ahead to see what we in the Christian and Missionary Alliance call Great Commission Completion! Rick recently finished his pastoral ministry of 43 years at Saddleback. I (Jeff) was at his conference in 1997, when I was 34 and he was 43. At that time Saddleback was 17 years old and 13,000 in attendance. They would more than double in the next 25 years.You can find everything Rick is up to, with all the links, at PastorRick.com!Rick is a teacher, coach, and adviser of pastors - you will get A LOT out of this episode! Enjoy!
Travis Kling is the Chief Investment Officer at Ikigai. In this interview, we discuss being on the frontline of the FTX collapse: Ikigai had a large majority of its investment funds in FTX when it stopped withdrawals; Travis had a majority of his liquid net worth also stuck in the bankrupt company. - - - - 2022 will be a defining moment for crypto. In November 2021, the total market valuation was approaching $3 trillion. By the middle of 2022 the market valuation was down to $800 million. UST had depegged in May and caused contagion to ripple through the market: in short order Celsius, 3AC and Voyager all filed for bankruptcy. And yet, the biggest shoe was yet to drop. In January 2022 FTX was valued at $32 billion. The August/September issue of Fortune magazine compared FTX's founder and CEO Sam Bankman-Fried (SBF) to Warren Buffet. Commentators, investors and media outlets likened SBF to JP Morgan as he bailed out struggling competitors. He'd been hosted by congressional committees in DC to help shape legislation multiple times. SBF was seemingly untouchable. That all changed in November with a rapid fall. On November 2nd CoinDesk reported on concerning balance sheet issues at FTX's sister company Alameda Research. On November 6th, Binance announced it would liquidate its entire holding of FTX's FTT token. On November 7th a run on FTX began. On November 8th FTX halted withdrawals. Days later it filed for bankruptcy. SBF was orchestrating a years-long fraud of epic proportions. Some in the industry had raised concerns, but many believed the hype. What Bitcoin Did did not have a relationship with FTX, but there are scenarios where that could have been different. Others did have relationships with FTX. For example Travis Kling, who had a large majority of his investment funds and personal liquid net worth stuck in FTX. On November 14th Travis posted a Tweet thread: “I have some pretty bad news to share… I lost my investors' money after they put faith in me to manage risk and I am truly sorry for that. I have publicly endorsed FTX many times and I am truly sorry for that. I was wrong.” This show goes through what happened and reflections on where we go from here. As this show goes live shortly after Genesis filed for bankruptcy, it's obvious we're still in the midst of this mess.
“The bad guys are kicking the shit out of the good guys. Look at what just happened, this shit is in shambles right now. The space has this attack vector from intelligent sociopaths, and they've done so much damage at this point.”— Travis KlingTravis Kling is the Chief Investment Officer at Ikigai. In this interview, we discuss being on the frontline of the FTX collapse: Ikigai had a large majority of its investment funds in FTX when it stopped withdrawals; Travis had a majority of his liquid net worth also stuck in the bankrupt company. - - - - 2022 will be a defining moment for crypto. In November 2021, the total market valuation was approaching $3 trillion. By the middle of 2022 the market valuation was down to $800 million. UST had depegged in May and caused contagion to ripple through the market: in short order Celsius, 3AC and Voyager all filed for bankruptcy. And yet, the biggest shoe was yet to drop. In January 2022 FTX was valued at $32 billion. The August/September issue of Fortune magazine compared FTX's founder and CEO Sam Bankman-Fried (SBF) to Warren Buffet. Commentators, investors and media outlets likened SBF to JP Morgan as he bailed out struggling competitors. He'd been hosted by congressional committees in DC to help shape legislation multiple times. SBF was seemingly untouchable.That all changed in November with a rapid fall. On November 2nd CoinDesk reported on concerning balance sheet issues at FTX's sister company Alameda Research. On November 6th, Binance announced it would liquidate its entire holding of FTX's FTT token. On November 7th a run on FTX began. On November 8th FTX halted withdrawals. Days later it filed for bankruptcy.SBF was orchestrating a years-long fraud of epic proportions. Some in the industry had raised concerns, but many believed the hype. What Bitcoin Did did not have a relationship with FTX, but there are scenarios where that could have been different. Others did have relationships with FTX. For example Travis Kling, who had a large majority of his investment funds and personal liquid net worth stuck in FTX.On November 14th Travis posted a Tweet thread: “I have some pretty bad news to share… I lost my investors' money after they put faith in me to manage risk and I am truly sorry for that. I have publicly endorsed FTX many times and I am truly sorry for that. I was wrong.” This show goes through what happened and reflections on where we go from here. As this show goes live shortly after Genesis filed for bankruptcy, it's obvious we're still in the midst of this mess.- - - - This episode's sponsors:Gemini - Buy Bitcoin instantlyLedn - Financial services for Bitcoin hodlersBitcasino - The Future of Gaming is hereFidelity - Careers in cryptoLedger - State of the art Bitcoin hardware walletWasabi Wallet - Privacy by default-----WBD608 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.
Watch the Full Episode for FREE: Ben Armstrong (AKA BitBoy Crypto) - Exposing Sam Bankman-Fried & Government Corruption In Crypto - London Real
Watch the Full Episode for FREE: Ben Armstrong (AKA BitBoy Crypto) - Exposing Sam Bankman-Fried & Government Corruption In Crypto - London Real
Startuprad.io - The Authority on German, Swiss and Austrian Startups and Venture Capital
Executive SummaryIn this bonus episode of our expert interview series, Antonio Fatas, Professor of Economics at INSEAD, joins us to provide insights into the current situation with FTX. We've gathered a good deal of information about the collapse so far but there is still much that remains unknown. We delved into some of the known facts surrounding FTX and pondered together on what could happen in the future. It's clear from our discussion that FTX was not a regulated financial institution, and also had its own unique challenges. We'll be keeping an eye out for more developments related to FTX as time goes on to see what other lessons we can learn.I do believe there are other places where entities are insolvent, we just have not seen it yet.Antonio Fatas, Professor of Economics Subscribe HereWe are always sharing new resources with you. Find all of our options below. https://linktr.ee/startupradioFTX suffered from bad management and likely fraud as wellAntonio Fatas, Professor of EconomicsBackgroundAs crypto continues to grow into a new and important market, the digital asset industry has been rocked by the sudden collapse of one of its biggest crypto exchanges - FTX. Led by crypto personality Sam Bankman-Fried, FTX had previously been ranked as the world's third-biggest crypto exchange in terms of trading volume, so its downfall came as quite a shock to crypto investors. This news is sure to cause ripples throughout the crypto industry for a long time, and it serves as another reminder that despite its rising popularity, crypto remains an unpredictable and high-risk gamble. Regulators may now have a different view on the risks and regulations of crypto. Antonio Fatas, Professor of EconomicsThis event echoed Mt Gox's downfall although the underlying problem was quite different. Unlike Mt. Gox which fell victim to hack, FTX merely could not keep up with the sudden demand for withdrawals caused by investors who were losing faith in the platform. The resulting effect sent FTT, their native token, tumbling and kicked off a domino effect causing customers to rush out of the exchange and further crippling its ability to sustain itself, leading inevitably to its demise.I find it very revealing that these tokens that are supposed to work with high inflation, because the central banks are all crazy but this is the way to hold on to your purchasing power. Now that we have inflation, they are collapsing. That to me is a really red flag.Antonio Fatas, Professor of Economics Bitcoin crashed, Ethereum crashed, and almost every other major token did the same. Then Binance stepped in, with the world's number one exchange announcing it would buy FTX and ensure everyone gets repaid. But just as soon as the market settled, Binance announced a U-turn, saying the situation at FTX was beyond recovery. The implications from the complase of FTX will be felt for crypto for the coming years in more an thougher regulations. That is why we will follow the story. We start with a discussion of the situation with our guest. Professor Fatas.The ExpertAntonio is an influential professor of economics with an impressive set of credentials. With a Ph.D. in Economics from Harvard University and a research fellowship at...
Watch the Full Episode for FREE: Anthony Scaramucci - FTX, SBF, SEC & The Future Of Crypto - London Real
Watch the Full Episode for FREE: Anthony Scaramucci - FTX, SBF, SEC & The Future Of Crypto - London Real
Sam Bankman-Fried, the co-founder of cryptocurrency exchange FTX, has been arrested in the Bahamas. It turns out a lot of people are very interested in speaking with him about the collapse of FTX. Meanwhile, the Department of Justice is also asking FTX competitor Binance some tough questions as customers pull their money from the exchange. Plus more!See omnystudio.com/listener for privacy information.
If you had been paying attention to the guest on today's show, you may have gotten out of Luna or Celcius before they came crumbling down. His take on DeFi back on our April show got our attention. And with the aftershocks of FTX still rumbling through the crypto and financial world, we thought we'd invite him back to go deeper down the rabbit hole. What is the next domino to fall and how you can avoid getting burnt? We'll discuss with Brad Mills today on our “Is all DeFi BS?” Episode #651 of The Bad Crypto Podcast. FULL SHOW NOTES: http://badco.in/651 TIME STAMPS 00:00 - Intro07:30 - When were you first talking about FTX and the red flags? 11:30 - Is all DeFi a scam? 14:30 - What does this mean for Ethereum? 16:09 - You're mentioning there are other risks in the market. Which of these coins have the greatest risk for you? 25:40 - Rebasing entered the market; what the hell is this?!30:51 - What exactly drives the market cap of cryptocurrencies? 32:30 - Exactly. P/E ratios are often bogus in crypto. 35:30 - How connected do you think the FTX and SBF fallout is to the US government? 37:35 - The New York Times put out this puff piece on Sam Bankman-Fried. What are your thoughts on mainstream media journalism? 40:15 - Sam was printing tens of billions of dollars, just like Binance, Andreseen Horrowitz, Coinbase and others. 45:30 - CZ at Binance was public about his liquidation of FTT, earning Travis' respect. What are your thoughts? 47:15 - They are scheduling a hearing about FTX. Let's look back at Sam's Tweets. He's now coming out and saying he wants to try again and make it all back. Even Kevin O'Leary is willing to back this guy again! 54:00 - Do you think the government is going to come out and say these are all unregistered securities and everything will go to zero? 58:15 - Give a warning around CBDCs to people. 1:11:11 - Closing Remarks Full Show Notes at: http://badco.in/ SUBSCRIBE, RATE, & REVIEW: Apple Podcast: http://badco.in/itunesGoogle Podcasts: http://badco.in/googleSpotify: http://badco.in/spotify FOLLOW US ON SOCIAL MEDIA: Twitter: @badcryptopod - @joelcomm - @teedubyaFacebook: /BadCrypto - /JoelComm - /teedubyawFacebook Mastermind Group: /BadCryptoLinkedIn: /in/joelcomm - /in/teedubyaInstagram: @BadCryptoPodcastEmail: badcryptopodcast[at]gmail[dot]comPhone: SEVEN-OH-8-88FIVE- 90THIRTY BE A FEATURED GUEST: http://badco.in/apply DISCLAIMER:Do your own due diligence and research. Joel Comm and Travis Wright are NOT FINANCIAL ADVISORS. We are sharing our journey with you as we learn more about this crazy little thing called cryptocurrency. We make NO RECOMMENDATIONS. Don't take anything we say as gospel. Do not come to our homes with pitchforks because you lost money by listening to us. We only share with you what we are learning and what we are investing it. We will never "pump or dump" any cryptocurrencies. Take what we say with a grain of salt. You must research this stuff on your own! Just know that we will always strive for RADICAL TRANSPARENCY with any show associations.Support the show: https://badcryptopodcast.comSee omnystudio.com/listener for privacy information.
Wassielawyer, a lawyer specializing in restructuring and insolvency, and Thomas Braziel, founder and CEO of 507 Capital, talk about the bankruptcy of FTX. Show highlights: what the bankruptcy process of FTX is expected to look like why FTX got to the the point of filing for bankruptcy protection why Wassie thinks Alameda is dead why FTX filed for bankruptcy in the US given that it's a Bahamian company how FTX's balance sheet is composed and whether it includes Alameda whether Justin Sun will be dragged into the bankruptcy how FTX's terms of service differ from Celsius's and Voyager's how the $600 million hack affects the bankruptcy proceeding whether it's worth it to spend millions of dollars in law firms to go after the hacked money what's the impact of the 192 million FTT tokens that were printed Saturday night what will happen with the fork of Serum and the forked tokens the consequences for all the projects that FTX invested in why Wassie thinks that tokenizing the liabilities could be a good potential solution how the FTX's bankruptcy affects Voyager's proceedings and customers whether FTX's bankruptcy has put BlockFi in trouble Take Unchained's 2022 survey! Unchained is doing its annual survey. Tell us how you think we're doing and how we could improve, whether it be on the podcast, in the newsletter, or in our premium offering. Looking forward to hearing your thoughts! Thank you to our sponsors! Crypto.com Chainalysis Minima Wassielawyer: Twitter Thread on community buyout Previous Unchained episodes: Why the Messy 3AC, Celsius, and Voyager Bankruptcies Will Drag on for Years Three Crypto Bankruptcies: 3AC, Celsius and Voyager. What Happens Now? Thomas: Twitter 507 Capital Previous Unchained episodes: Will Celsius Survive the Bankruptcy Process? Episode Links Previous coverage of Unchained on FTX: Erik Voorhees and Cobie on Why FTX Loaned Out Customers' Assets The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? Sam Bankman-Fried on How to Prevent the Next Terra and 3AC FTX Collapse: FTX filed for Chapter 11 bankruptcy protection Sam Bankman-Fried built a "backdoor" to his FTX exchange to change financial records and move funds without alerting others. $600 million hack Unchained coverage: The Bahamas Loophole: FTX Users Buy KYC Accounts to Withdraw Crypto Could FTX's Bankruptcy Trigger a Domino Effect? FTX May File for Bankruptcy After Binance Walks Off the Deal FTX Needs $8B to Meet Investor Withdrawals: Report Tron Founder Justin Sun Says He Is Working With FTX on a Solution US DOJ Joins SEC and CFTC Probe of FTX FTX-Issued Wrapped Solana Tokens Could Add to DeFi Contagion: wBTC Creator Sequoia Capital Writes Off $214M FTX Investment to Zero Contagion: Serum Fork in the Works Amid Fears That FTX-Owned Upgrade Keys Are Compromised BlockFi Halts Withdrawals Amid FTX Crisis Voyager had to reopen the bidding process for its assets
This is Garrison Hardie with your CrossPolitic Daily Newsbrief for Tuesday, November 15th, 2022. Just a heads up ladies and gentleman, I will be out of the country and into Canada with Gabe the Waterboy the 16th-21st, so we will only have a newsbrief today, and Wednesday morning, but not to worry, I’ll be back next week to bring you the news… Redballoon Not so long ago, the American dream was alive and well. Employees who worked hard were rewarded, and employers looked for people who could do the job, not for people who had the right political views. RedBalloon.work is a job site designed to get us back to what made American businesses successful: free speech, hard work, and having fun. If you are a free speech employer who wants to hire employees who focus on their work and not identity politics, then post a job on RedBalloon. If you are an employee who is being censored at work or is being forced to comply with the current zeitgeist, post your resume on RedBalloon and look for a new job. redballoon.work, the job site where free speech is still alive! www.redballoon.work https://thepostmillennial.com/maricopa-election-officials-launched-pac-in-2021-to-stop-maga-candidates?utm_campaign=64487 Maricopa election officials launched PAC in 2021 to stop MAGA candidates It has been revealed that embattled Arizona's Maricopa County Recorder Stephen Richer and Supervisor Chairman Bill Gates in 2021 started a political action committee to stop MAGA candidates. On November 17, 2021, Meg Cunningham from the Kansas City Beacon tweeted that Richer, "the Maricopa County recorder, is launching a PAC to support Rs running for non-federal AZ offices who 'acknowledge the validity of the 2020 election and condemn the events of Jan. 6, 2021, as a terrible result of the lies told about the November election.'" Richer retweeted her saying, "Thanks to a few generous donors this is now launching. Join me if you care about traditional Republican 'stuff' (free people, free markets, rule of law), but also don’t believe in conspiracies about the 2020 election or that Jan 6 was a tourist event." The PAC called Pro Democracy Republicans of Arizona claims on their website that they are "fighting to keep our democratic institutions alive." The website is sparse on details aside from how to donate but does have a few sentences on their mission. "The Arizona election wasn’t stolen. We Republicans simply had a presidential candidate who lost, while we had many other candidates who won. It’s time we Republicans accept and acknowledge that fact." "Candidates come and go. But our democratic institutions are long-lasting, and peaceful transitions of power are a hallmark of the United States. We should not abandon this history in favor of conspiracy theorists and demagoguery." "To that end, we are launching this PAC to support pro-democracy Arizona Republicans." Political pundits, candidates, and others have continued to slam Arizona’s Maricopa County Elections Department for ongoing failures in their election system. Almost a week after election day, the county, as well as the state, are some of the last to not have candidates declared as winners, as votes continue to be counted. As Secretary of State, gubernatorial Democratic candidate Katie Hobbs was in charge of overseeing the election after failing to recuse herself. https://twitter.com/i/status/1590526914019864577 - Play Video 0:00-2:12 On Wednesday night, Republican gubernatorial nominee and Trump-endorsed candidate Kari Lake called out her opponent and Maricopa County Richer as "incompetent." The results of Arizona's gubernatorial race between Hobbs and Lake are still pending as is the senatorial race between Democrat Sen. Mark Kelly and Republican challenger Blake Masters. https://www.theepochtimes.com/another-court-rules-against-biden-administrations-student-loan-forgiveness-program_4862341.html?utm_source=partner&utm_campaign=BonginoReport Appeals Court Rules Against Biden Administration’s Student Loan Forgiveness Program A federal appeals court on Nov. 14 entered a ruling against the student loan forgiveness program announced by President Joe Biden’s administration earlier this year. Erasing student loan debt would be “irreversible,” a panel of the St. Louis-based U.S. Court of Appeals for the 8th Circuit ruled, entering an injunction against the administration pending an appeal. The panel consisted of U.S. Circuit Judges Bobby Shepherd, a George W. Bush appointee; Ralph Erickson, a Donald Trump appointee; and Steven Grasz, another Trump appointee. They sided with Missouri and five other Republican-led states that had sued Biden and Education Secretary Miguel Cardona after the announcement of the program, alleging that it was illegal for the executive branch to enact such widespread loan relief. Biden administration officials have said that the Higher Education Relief Opportunities for Students Act of 2003 grants the authority for the relief, which is expected to cost about $400 billion and apply to tens of millions of Americans. The appeals court ruling came after U.S. District Judge Henry Edward Autrey, a George W. Bush appointee, rejected the states’ suit, finding that they lacked standing to sue on behalf of the Missouri Higher Education Loan Authority (MOHELA). The three appeals judges disagreed, finding that MOHELA is effectively an arm of the state of Missouri and even if it wasn’t, the financial effect of the administration’s debt discharge still threatens Missouri because it would affect the state’s Lewis and Clark Discovery Fund, a capital fund that can support projects at colleges. The fund receives money from MOHELA. The ruling follows a separate appeals court decision to temporarily block the program and U.S. District Judge Mark Pittman, a Trump appointee, finding it unconstitutional and vacating it. After Pittman’s ruling, dated Nov. 8—the same day as the midterm elections—the administration stopped accepting applications for the program. Administration lawyers have already appealed that ruling and the government will hold onto information from the 26 million borrowers, including the 16 million who have already been approved for relief, “so it can quickly process their relief once we prevail in court,” White House press secretary Karine Jean-Pierre said. https://hotair.com/jazz-shaw/2022/11/14/oregon-leftists-bragging-about-new-gun-control-law-n510693 Oregon leftists bragging about new gun control law The red wave in Oregon didn’t happen for the most part, though Republicans took a House seat here and there and performed well in the more rural, western part of the state as usual. The hype surrounding the possibility that Democrat Tina Kotek could be defeated, turning the Governor’s Mansion red, fizzled in the end. Another piece of bad news turned up in a ballot measure that didn’t draw all that much attention on the national level. Measure 114 passed on election day, ushering in a new round of gun control restrictions and requirements. NBC News launched into a celebration of this “victory” in which they bemoaned the rising number of deaths involving firearms in recent years while claiming (without evidence) that this new law in Oregon would do something about it. In this climate, voters in Oregon have fought back. Heading into the midterm elections, voters took it upon themselves to strengthen gun laws by proposing Measure 114, a ballot initiative that requires a background check, a license and safety training to buy firearms in the state. The measure also prohibits large-capacity magazines that hold more than 10 rounds of ammunition. Oregon’s measure is particularly important because Congress, the courts and many state legislatures have done so little to contain the violence. Meanwhile, the number of gun deaths in the United States has skyrocketed — in fact, our analysis of the data shows that guns drove a recent spike in homicides and suicides… Given the Supreme Court’s expansion of Americans’ right to own guns, it can be frustrating to consider what preventive steps are possible. The Oregon referendum, however, is an example of how laws can prevent gun violence. Firearm purchaser licensing, as contained in the ballot measure, is one of the most effective policies at reducing gun deaths. First of all, there’s nothing really unique or groundbreaking about this measure when compared to similar proposals in other liberal states. They are requiring all purchasers of firearms to complete a background check (which everyone already had to do anyway) and complete mandatory gun safety training before being able to obtain a license to own a gun. It also limits the size of magazines to ten rounds of ammunition. What Measure 114 really does is make it more time-consuming, expensive, and laborious for lawful residents to legally obtain a firearm. NBC goes to great lengths to document how many gun-related deaths have been recorded in the country of late, concluding that Oregon’s law will impact those statistics in a positive way. As usual, what’s entirely missing in this liberal “analysis” is any sort of context or even a nod to the reality of gun crime in the United States. Yes, more people are getting shot. That’s only one facet of the rising violent crime rates we’ve been seeing, primarily in urban areas. And the NBC report conveniently ignores the fact that the vast, vast majority of the people being shot are the victims of criminals who could never pass a background check and get their guns on the black or gray markets. Also ignored in this report is the reality that lower-income minority citizens are disproportionately the victims of these gun crimes. And by making it harder for the law-abiding to obtain a firearm, you’re making it hard for them to defend themselves if such a thing happens to them. https://thepostmillennial.com/report-ftx-ceo-detained-by-authorities-in-bahamas?utm_campaign=64487 FTX CEO detained by authorities in Bahamas Sam Bankman-Fried, the former CEO of the collapsing cryptocurrency company FTX, along with two others associated with the company, director of engineering Nishad Singh and co-founder Gary Wang, are "under supervision" in the Bahamas after the trio reportedly were planning on fleeing to Dubai. According to Cointelegraph, "Right now three of them, Sam, Gary, and Nishad are under supervision in the Bahamas, which means it will be hard for them to leave." Dubai is a city in the United Arab Emirates that prior to February 24, 2022, had no extradition treaty with the United States. However, as of that date, the two countries signed a mutual legal assistance treaty which does permit extradition. The multi-billion dollar cryptocurrency company FTX, run by CEO Sam Bankman-Fried, the second biggest Democrat donor right after George Soros, collapsed last week as details emerged regarding their financial practices, which led to a run by customers on FTX. FTX did not have the funds to pay out. "FTX is under investigation by the US Securities and Exchange Commission (SEC) regarding the management and handling of client funds. With this latest development, FTX has more questions to answer as scrutiny builds around the SEC investigation," Cryptoslate reported. Roughly $5 billion was withdrawn from FTX on Sunday. The trouble began for FTX last week when rival crypto company Binance said they were selling off their holdings of FTT, the proprietary coin of FTX. After Binance's comments, FTX was in financial trouble and essentially sought a bailout from other firms, Binance among them. The New York Post reports that FTX's implosion followed revelations "that co-founder Sam Bankman-Fried had been funneling money to a sister trading company run by his girlfriend." That company, Alameda Research, is run by Bankman-Fried's girlfriend, Caroline Ellison, and is also based in the Bahamas. Binance announced that they would buy the company, then pulled out of the deal, saying that after some due diligence, they decided it would not be a good investment. Part of the issue for Binance is that Alameda Research, helmed by Bankman-Fried's girlfriend, holds a great deal of their assets in FTT, and FTX had invested their customers' funds into Alameda through a "back door," without oversight. Details have emerged that FTX had partnered with Ukraine to process donations to their war efforts within days of Joe Biden pledging billions of American taxpayer dollars to the country. Story Real Estate: Home. It’s where you build your legacy. Where traditions are started, seeds are planted, meals are shared, and stories are told. Home is where you prepare to go out into the world. Finding the home that’s perfect for your family is a big job. Story Real Estate is Moscow’s top real estate team. They give people real estate advice all over the country. Family homes, investments, land, new construction, or commercial— they know real estate. If you’ve thought about a move to Moscow or anywhere in the country, reach out to get connected with a Story Real Estate agent. Wherever you’re going, they can help guide you Home. Visit storyrealestate.com. Now it;s time for my favorite topic… sports! This one hits close to home for our producer Neil, as this was his first ever favorite fighter when it came to MMA… https://www.mmafighting.com/2022/11/13/23456635/two-time-ufc-title-challenger-anthony-rumble-johnson-dead-at-38 Two-time UFC title challenger Anthony ‘Rumble’ Johnson dead at 38 Anthony Johnson, a Bellator fighter and two-time UFC title challenger, has died. He was 38 years old. MMA Fighting has confirmed the news with sources with knowledge of the situation, following an outpouring of messages on social media regarding Johnson’s death. The cause of death has yet to be announced. Johnson is best remembered for a pair of UFC stints from 2007-2012 and 2014-2017. His first run with the promotion saw him emerge as an intriguing welterweight prospect with unmatched knockout power, while his second run occurred as a light heavyweight. It was during Johnson’s second UFC run that he defeated the likes of Glover Teixeira, Ryan Bader, Alexander Gustafsson, and Phil Davis, and earned two cracks at the light heavyweight championship. He announced his retirement after a 2017 title fight loss to Daniel Cormier, but returned to competition in 2021 and fought once for Bellator, defeating Jose Augusto by second-round knockout. In October 2021, Johnson was to fight Bellator light heavyweight champion Vadim Nemkov as part of a grand prix tournament, but was forced to withdraw from that contest due to an undisclosed illness. Johnson’s pro MMA record was 23-6 with 17 wins coming by way of KO/TKO.
P.M. Edition for Nov. 14. The collapse of exchange FTX continues to reverberate across the crypto world and beyond. At the center of FTX's fall is its little-traded digital coin, FTT. Markets reporter Caitlin Ostroff joins host Annmarie Fertoli to discuss. Learn more about your ad choices. Visit megaphone.fm/adchoices
0:00 CRYPTO CABAL 54:30 Alex Krainer - FTX was a massive digital SLUSH FUND for Democrats - Money was created out of nothing via FTT (tokens), then sold off to victims of the scam - Millions went to Fetterman and other Dems to sway mid-term elections - Sam Bankman-Fried had pledged $1 billion to Dems by 2024 - Globalist media outlets like Reuters and Forbes then attacked rival Binance - Binance CEO CZ needed just two tweets to bring down the FTX fraud - Binance is more libertarian and wants to coexist on Twitter with Elon Musk and free speech - Binance doesn't pilfer user deposits / funds and make crazy bets (like FTX did) - We are watching the collapse of dollar hegemony - BRICS+ nations will shortly launch a new global reserve currency backed by commodities - Hubs like Binance will likely allow Americans to buy BRICS+ currencies via stablecoins - This would give Americans a way to SAVE money without losing to dollar devaluation - The future of world trade will rest on honest money, backed by real commodities For more updates, visit: http://www.brighteon.com/channel/hrreport NaturalNews videos would not be possible without you, as always we remain passionately dedicated to our mission of educating people all over the world on the subject of natural healing remedies and personal liberty (food freedom, medical freedom, the freedom of speech, etc.). Together, we're helping create a better world, with more honest food labeling, reduced chemical contamination, the avoidance of toxic heavy metals and vastly increased scientific transparency. ▶️ Every dollar you spend at the Health Ranger Store goes toward helping us achieve important science and content goals for humanity: https://www.healthrangerstore.com/ ▶️ Sign Up For Our Newsletter: https://www.naturalnews.com/Readerregistration.html ▶️ Brighteon: https://www.brighteon.com/channels/hrreport ▶️ Join Our Social Network: https://brighteon.social/@HealthRanger ▶️ Check In Stock Products at: https://PrepWithMike.com
Vinny and Sunny join the show to cover all the angles of Sam Bankman-Fried selling FTX to Binance after a liquidity crunch! (0:54) (0:00) Intro! (0:54) Vinny Lingham and Sunny Madra join to break down SBF selling FTX to Binance after a liquidity crunch! (13:36) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/TWIST (15:04) Comparing FTX's bank run to traditional finance, understanding leverage, culture of: make money first, clean up later, Vinny's theory on Alameda's locked Solana (23:24) Embroker - Use code TWIST to get an extra 10% off insurance at https://Embroker.com/twist (24:35) Three areas of crypto, understanding where FTX and FTT fall in this, risks of centralized exchanges (32:01) How this might impact broader crypto regulation, Bitcoin decoupling from the greater crypto market (37:33) Lemon.io - Get 15% off your first 4 weeks of developer time at https://Lemon.io/twist (38:57) Understanding what happened to Binance's FTT: Who is the bag holder? How might this unravel going forward? (42:55) FTX fundraising breakdown: could this situation break the crypto VC model? FOLLOW Vinny: https://twitter.com/VinnyLingham FOLLOW Sunny: https://twitter.com/sundeep FOLLOW Jason: https://linktr.ee/calacanis FOLLOW Molly: https://twitter.com/mollywood Subscribe to our YouTube to watch all full episodes: https://www.youtube.com/channel/UCkkhmBWfS7pILYIk0izkc3A?sub_confirmation=1
Tonight, Dee and Anand discuss Drake's new album, Revolve's earnings, Meta's layoffs, Twitter's leadership, Binance's FTX exit, Powerball's $1.9B pot, and America's midterm elections. Timeline of What Was Discussed: Drake brings the country together. (0:57) Congrats to Revolve! (15:31) Layoffs are coming over at Meta. (20:40) We are a ‘meme' society. Are you an Elon lover or hater? (30:30) FTX is a house of cards. (58:01) Powerball: Real or fraud? (1:01:00) Go Vote! (1:04:50) Related Links/Products Mentioned All the People Drake Disrespected on ‘Her Loss'— And Their Responses Earnings Beat: Revolve Group, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models — Simply Wall St Facebook Parent Meta Is Preparing to Notify Employees of Large-Scale Layoffs This Week Twitter Rolls Out Blue Check Marks for Paying Customers Twitter Now Asks Some Fired Workers to Please Come Back Jack Dorsey breaks his silence, owns 'responsibility for why everyone is in this situation' at Twitter Nets give Kyrie Irving six requirements to fulfill before he can return to team, per report FiveThirtyEight 2022 Midterm Election Forecast — FiveThirtyEight Donald Trump Prepares to Launch 2024 Campaign As part of Binance's exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). - CZ Binance on Twitter FUCK I LOVE THIS APP - GANDALF on Twitter Powerball jackpot grows to $1.9 billion after no winning ticket sold Connect with Group Chat! Watch The Pod For The Gram Tweet With Us Exclusive Facebook Content We're @groupchatpod on Snapchat
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