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2022-11-13 -Lurid Crime Tales-
FTX Held Just $900MM In Liquid Assets Vs $9BN In Liabilities As Video Emerges Confirming Alameda Knew It Was Pilfering Client Funds
[ZERO] On Friday, we first learned courtesy of a mystery twitter account belonging to an anonymous FTX insider, that the now bankrupt crypto exchange held just $900 million in liquid assets (including, among other things, a $7.3 million online bet by Democrat megadonor Sam Bankman-Fried for Trump to lose).

Of the $900 million in liquid assets, the largest portion - or roughly half - was in the form of $470mn of Robinhood shares owned by a Bankman-Fried vehicle not listed in Friday’s bankruptcy filing, which included 134 corporate entities. The liquid assets represent just 10% of the total assets (including $5.4BN in semi-liquid and $3.2BN in illiquid) and is a fraction of the $9 billion in liabilities at FTX which will now make their way through bankruptcy court for the next several years.

The document, which the FT also tracked down on Saturday and discussed here, and which was shared with prospective investors before the bankruptcy, provides a detailed picture of the financial hole in the FTX crypto empire and suggests customers of FTX international may face steep losses on cash and crypto assets they held on the exchange (and speaking of the 134 subs that FTX listed on its bankruptcy filing, the FT notes that the company had incorrectly listing entities it did not own in its initial filing, while as we reported earlier, the exchange suffered an apparent hack on Friday night that drained its balances to zero).

Aside from the spreadsheet shown above, the FT also noted another spreadsheet which references the $5bn of withdrawals last Sunday - which as everyone knows by know were precipitated by CZ telling the world he would pull his money after the "recent revelations" and sparking a bank run on FTX which the exchange did not have nearly the fund to defend against; the sheet also noted a negative $8bn entry described as "hidden, poorly internally labled ’fiat@’ account".

Breitbart Business Digest: Sam Bankman - Fried Hoped FTX Was Bear Stearns—But It Was Lehman Brothers Instead
Posted by Besoeker 2022-11-13 00:52|| || Front Page|| [11134 views ]  Top

#1 Gee, I wonder who could have possibly designed such an innovative financial laundering scheme ?

Coin Desk - Ukraine Partners With FTX, Everstake to Launch New Crypto Donation Website
Posted by Besoeker 2022-11-13 01:00||   2022-11-13 01:00|| Front Page Top

#2 Gateway - Tens of Billions of US Dollars Were Transferred to Ukraine and then Using FTX Crypto Currency the Funds Were Laundered Back to Democrats in US
Posted by Besoeker 2022-11-13 05:15||   2022-11-13 05:15|| Front Page Top

#3 ZH true beliebers screech "It's not a scam... Sob."
Posted by M. Murcek 2022-11-13 08:03||   2022-11-13 08:03|| Front Page Top

#4 ZERO - FTX Founder Spent $40 Million As Democrat Midterm Megadonor

Leading up to Sam Bankman-Fried's spectacular implosion - in which his firm FTX evaporated billions in wealth after the now-bankrupt cryptocurrency exchange allegedly commingled client assets with his trading firm into a liquidity crunch - he became the sixth-largest donor in this year's midterm election cycle, giving some $40 million to mostly Democratic candidates and causes.According to Forbes, Bankman-Fried was second only to George Soros among billionaire donors to Democratic groups during the 2022 midterm election cycle.

FTX allegedly loaned Alameda Research - a trading firm founded by Bankman-Fried - roughly $10 billion in client assets, which has landed him under federal investigation by the SEC, CTFC, and the Justice Department - the latter of which already had been working on a months-long investigation, according to the Wall Street Journal. The CTFC, meanwhile, is tasked with regulating certain elements of the crypto markets - including digital assets that are as commodities, and crypto exchanges and clearinghouses.

In late September, Bankman-Fried admitted that his political donations were mostly to Democrats, and Republican recipients were 'targeted'.

Spot the rare journalism by host Chuck Todd;

Posted by Besoeker 2022-11-13 08:54||   2022-11-13 08:54|| Front Page Top

#5 FTX Held Just $900MM In Liquid Assets Vs $9BN In Liabilities

So sort of like the federal government, but on a smaller scale.
Posted by Procopius2k 2022-11-13 09:18||   2022-11-13 09:18|| Front Page Top

#6 
Posted by Frank G 2022-11-13 09:34||   2022-11-13 09:34|| Front Page Top

#7 
Posted by badanov 2022-11-13 10:25||   2022-11-13 10:25|| Front Page Top

#8 Remember when "the appearance of impropriety" was a thing?

Good times...
Posted by M. Murcek 2022-11-13 11:15||   2022-11-13 11:15|| Front Page Top

09:27 Warthog
09:11 Mercutio
09:07 AlmostAnonymous5839
08:52 Matt
08:24 Matt
08:20 SteveS
07:43 Procopius2k
07:42 BrerRabbit
07:42 Procopius2k
07:39 Procopius2k
07:36 Procopius2k
07:35 Procopius2k
07:34 trailing wife
07:31 Procopius2k
07:30 NN2N1
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07:18 trailing wife
07:14 Richard Aubrey
07:10 NN2N1
07:09 Besoeker
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06:58 Besoeker
05:28 Whiskey Mike









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