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Why FTX crashed right after midterm erection.
- Thread starter blackmondy
- Start date
Who is CZ of Bi-nonsense?
CZ was cold blooded Chinese national who took the Canadian Citizenship.
Zhao, 45, was born in the coastal province of Jiangsu, north of Shanghai, China and followed his academic father to Canada when he was 12. Zhao is now a Canadian citizen. After graduating from Montreal’s McGill University with a degree in computer science he worked on programming systems for the Tokyo Stock Exchange and Bloomberg, before launching Binance in 2017. His fortune has taken a hit too, falling by $79bn this year to a still-huge $16.4bn, according to Bloomberg.
It will probably remain under pressure as Bankman-Fried’s woes play out.
To be continued
CZ was cold blooded Chinese national who took the Canadian Citizenship.
Zhao, 45, was born in the coastal province of Jiangsu, north of Shanghai, China and followed his academic father to Canada when he was 12. Zhao is now a Canadian citizen. After graduating from Montreal’s McGill University with a degree in computer science he worked on programming systems for the Tokyo Stock Exchange and Bloomberg, before launching Binance in 2017. His fortune has taken a hit too, falling by $79bn this year to a still-huge $16.4bn, according to Bloomberg.
It will probably remain under pressure as Bankman-Fried’s woes play out.
To be continued
Known by the monikers SBF and CZ, Sam Bankman-Fried and Changpeng Zhao could be seen as two sides of the same crypto coin. In a few short years, they built two of the largest digital currency exchanges: FTX and the biggest, Binance. As former business partners and major players in a multibillion-dollar industry, their highs, and lows, are intertwined.
But their backgrounds are very different. We need to take a closer look as to why and how CZ played a dominant role to crash the market!!
To be continued
But their backgrounds are very different. We need to take a closer look as to why and how CZ played a dominant role to crash the market!!
To be continued
A Singh was behind this!!
I think volatility is always going to be there. It’s a trading market. It’s just like a stock market. If stock markets don’t have volatility, who will invest?
If you recall Zhao was in Lisbon on Wednesday 2 November when the fuse was lit on the FTX crisis. The Binance chief executive was a headline speaker at the annual Web Summit – a gathering of the great and good of the tech world – and as usual he was defending the long-term future of digital assets
As Zhao spoke, the crypto news service Coindesk claims about the balance sheet of Alameda Research, a crypto hedge fund owned by the FTX founder, Sam Bankman-Fried. Alameda held billions of dollars worth of FTX’s own cryptocurrency, FTT, and had been using it as collateral in further loans.
This meant a fall in FTT’s value would hurt both firms, given their shared ownership. CZ was a whistle blower
If you recall Zhao was in Lisbon on Wednesday 2 November when the fuse was lit on the FTX crisis. The Binance chief executive was a headline speaker at the annual Web Summit – a gathering of the great and good of the tech world – and as usual he was defending the long-term future of digital assets
As Zhao spoke, the crypto news service Coindesk claims about the balance sheet of Alameda Research, a crypto hedge fund owned by the FTX founder, Sam Bankman-Fried. Alameda held billions of dollars worth of FTX’s own cryptocurrency, FTT, and had been using it as collateral in further loans.
This meant a fall in FTT’s value would hurt both firms, given their shared ownership. CZ was a whistle blower
This charlatan is also from the same community.
All migrated all over the world to make money via shortcuts
It came to light Following the CoinDesk report, a pseudonymous crypto researcher, Dirty Bubble Media, published further claims about Alameda on Substack, the newsletter platform. Its newsletter asked if the company was insolvent. Referring to the holding of a chunk of assets in FTT, it added: “It’s almost as if SBF [Sam Bankman-Fried] found a way to hack the financial system, printing billions of dollars out of thin air against which he was able to borrow massive sums from unknown counterparties.” on 4th Nov.
In 2019, Binance had invested as a shareholder in FTX. It exited that shareholding last year and received $2.1b in Binance’s own stablecoin (BUSD) and in FTT tokens as part of the deal.
To be continued
Zhao set off alarm bells among investors when he tweeted “due to recent revelations that have come to light” Binance would “liquidate” its holding of FTT tokens. Its position was thought to be around 5% of the total, worth around $580m before the currency crashed on Sunday 6th November
In 2019, Binance had invested as a shareholder in FTX. It exited that shareholding last year and received $2.1b in Binance’s own stablecoin (BUSD) and in FTT tokens as part of the deal.
To be continued
As the consequences of the move rippled through the crypto industry, Zhao tweeted “We are not against anyone’”. But in the same post he added: “But we won’t support people who lobby against other industry players behind their backs.” A source close to Binance said there was no ill-intent towards FTX in the FTT sale.
This lobbying aside appeared to be a reference to Bankman-Fried, who had spent millions of dollars funding US Democrat politicians and lobbying for closer regulation of crypto trading in Washington.
This lobbying aside appeared to be a reference to Bankman-Fried, who had spent millions of dollars funding US Democrat politicians and lobbying for closer regulation of crypto trading in Washington.
Monday 7 November
Bankman-Fried reacted to the weekend turmoil on Monday with his own series of tweets, alleging: “A competitor is trying to go after us with false rumours.” He added: “FTX is fine. Assets are fine.”…it shows SBF’s maturity level
He didn’t identify who he was referring to. But he then tagged Zhao, who has committed $500m of Binance’s money to helping Elon Musk buy Twitter, with a tweet in which he said: “I’d love it, @cz_binance, if we could work together for the ecosystem.”
Tuesday 8 November
In an apparent cessation of hostilities, Zhao announced that Binance would buy FTX and rescue it.
“This afternoon, FTX asked for our help,” tweeted Zhao. “There is a significant liquidity crunch. To protect users, we signed a non-binding [letter of intent], intending to fully acquire FTX.com.”
Bankman-Fried confirmed the deal on Twitter: “Things have come full circle, and FTX.com’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for FTX.com (pending DD etc).”
The DD – or due diligence – was going to be the most consequential phrase in that tweet.
As rumours grew of a hole in FTX’s balance sheet, Zhao suddenly pulled the plug and tipped Bankman-Fried’s enterprise into full-blown crisis. Having looked under the bonnet, Binance said it could no longer push ahead with the deal.
“In the beginning, our hope was to be able to support FTX’s customers to provide liquidity, but the issues are beyond our control or ability to help,” Binance said in a statement.
Zhao tweeted that it was a “sad day”.
As FTX scrambled for a new white knight, Bankman-Fried returned to Twitter to state that he had “fucked up, and should have done better”. FTX’s future was now in serious doubt.
FTX filed for Chapter 11 bankruptcy protection in the US, in a move that included its US platform and Alameda. Bankman-Fried was replaced as chief executive by John Ray III, a turnaround and restructuring lawyer who worked on the liquidation of the collapsed energy giant Enron. Hours before the collapse was confirmed, Zhao warned the crypto market faced a 2008-style crisis with more failures to come. He told a conference in Indonesia that the global financial crisis was “probably an accurate analogy” to this week’s events, the Financial Times reported.
For his part, Bankman-Fried tried to stay positive. Announcing the bankruptcy on Twitter, he apologised again, saying: “Hopefully things can find a way to recover. Hopefully this can bring some amount of transparency, trust, and governance
To be continued
Bankman-Fried reacted to the weekend turmoil on Monday with his own series of tweets, alleging: “A competitor is trying to go after us with false rumours.” He added: “FTX is fine. Assets are fine.”…it shows SBF’s maturity level
He didn’t identify who he was referring to. But he then tagged Zhao, who has committed $500m of Binance’s money to helping Elon Musk buy Twitter, with a tweet in which he said: “I’d love it, @cz_binance, if we could work together for the ecosystem.”
Tuesday 8 November
In an apparent cessation of hostilities, Zhao announced that Binance would buy FTX and rescue it.
“This afternoon, FTX asked for our help,” tweeted Zhao. “There is a significant liquidity crunch. To protect users, we signed a non-binding [letter of intent], intending to fully acquire FTX.com.”
Bankman-Fried confirmed the deal on Twitter: “Things have come full circle, and FTX.com’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for FTX.com (pending DD etc).”
The DD – or due diligence – was going to be the most consequential phrase in that tweet.
Wednesday 9 November
As rumours grew of a hole in FTX’s balance sheet, Zhao suddenly pulled the plug and tipped Bankman-Fried’s enterprise into full-blown crisis. Having looked under the bonnet, Binance said it could no longer push ahead with the deal.
“In the beginning, our hope was to be able to support FTX’s customers to provide liquidity, but the issues are beyond our control or ability to help,” Binance said in a statement.
Zhao tweeted that it was a “sad day”.
Thursday 10 November
As FTX scrambled for a new white knight, Bankman-Fried returned to Twitter to state that he had “fucked up, and should have done better”. FTX’s future was now in serious doubt.
Friday 11 November
FTX filed for Chapter 11 bankruptcy protection in the US, in a move that included its US platform and Alameda. Bankman-Fried was replaced as chief executive by John Ray III, a turnaround and restructuring lawyer who worked on the liquidation of the collapsed energy giant Enron. Hours before the collapse was confirmed, Zhao warned the crypto market faced a 2008-style crisis with more failures to come. He told a conference in Indonesia that the global financial crisis was “probably an accurate analogy” to this week’s events, the Financial Times reported.
For his part, Bankman-Fried tried to stay positive. Announcing the bankruptcy on Twitter, he apologised again, saying: “Hopefully things can find a way to recover. Hopefully this can bring some amount of transparency, trust, and governance
To be continued
okay "misplaced"
okay "misplaced"
Propagandists love to cover backside for their masters. Keep playing these word games you traitors.
It is not a small money….
okay "misplaced"
MAS should list down all the money laundering by banks in SG, also loses due to failed investments in 2022 and all the losses due to other scams this year.
It is going to hit the economy.
Thats not all… satan conceded his failure to me that SG economy is in jeopardy. I told him it is due to wrong decisions by PAP in every ministry.
I also gave satan a stern warning that he is not REQUIRED in SG or any part of the world as i am counting on Meritocracy (Not devil’s involvement and manipulation with PAP government)
Devil will be sent to the prison in the Hell. None will have access to him after that.
Stay tuned for more updates.
They love it so much... generation after generation... and it goes on and on...Propagandists love to cover backside for their masters. Keep playing these word games you traitors.
Who's Who in the FTX Inner Circle
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/HXT2IWNQMZBUDAT6S5CXMQASZY.jpg)
https://www.coindesk.com/layer2/2022/11/22/the-whos-who-of-the-ftx-inner-circle/
https://www.coindesk.com/layer2/2022/11/22/the-whos-who-of-the-ftx-inner-circle/
The downfall of FTX was swift and brutal. In a matter of eight days earlier this month, the crypto exchange – developed as a skunk-work project inside Sam Bankman-Fried’s quant-driven trading shop, Alameda Research – went from being one of the most used and valuable crypto companies ever to a pile of failed bets and worthless tokens.
While it is not yet come to light conclusively but Nishal Singh (INDIAN DIASPORA) who was the IT head was behind the failure as FTX client money was being gambled by Alameda Tasers. That could have been standard operating procedure for years between the two closely linked firms, or part of a CROOKEDLY planned scheme to patch holes in the hedge fund’s balance sheet that emerged in the market downturn earlier this year.
While it is not yet come to light conclusively but Nishal Singh (INDIAN DIASPORA) who was the IT head was behind the failure as FTX client money was being gambled by Alameda Tasers. That could have been standard operating procedure for years between the two closely linked firms, or part of a CROOKEDLY planned scheme to patch holes in the hedge fund’s balance sheet that emerged in the market downturn earlier this year.
The FTX Disaster is Deeper Than you Think
Who is Nishad Singh?
- An early hire at Alameda
- Nishad Singh was Appointed as Director of engineering,
- Nishad Singh (worked closely with Chief Technology Officer Gary Wang an Chinese
- Nishad Singh was the Best friend to SBF’s brother in high school
SBF (a Jew), Nishal singh (hardcore gay Indian) and Gary Wang (a Chinese) are the three who formed the innermost gay circle who fuck each others to control the FTX trade. Temasek Holdings predominantly managed by hardcore INDIANS love this lifestyle. Remember even DBS CEO an hardcore Indian was making good comments about Crypto-technology in the past.
Homosex was born in Gujarat and Kerala and then migrsted to the western world. They have a gay God called Ayyappa that was the son of Vishnu & Shiva (both are males). This is how homosex propagated to the western world by indian gurus.
Nishad Singh (LinkedIn)
Nishad Singh joined Alameda Research in the early days, when the five-person trading firm was based in a Berkeley, California, apartment. He went from finding and exploiting arbitrage opportunities in crypto markets to being appointed director of engineering at FTX.
Singh is thought to be a close confidant of Bankman-Fried, having shared multiple apartments with the FTX founder over the years, including most recently a 10-person luxury penthouse in Nassau, the Bahamas.
These guys are all GAYS and they sleep around with guys and girls who work at FTX.
He is
Singh did not return a request for comment for this article. Although his LinkedIn profile is down and his Twitter account locked, the University of California, Berkeley graduate talked about why he left his dream job at Facebook to join Alameda Research in a FTX podcast.
"I spent maybe about a month doing weekends and nights at Alameda,” he said, discussing a period of time when his “day job” was as a software engineer working on applied machine learning at Facebook. “At some point, it became obvious that was kind of stupid … so I took some time off and really gave my 100% working at Alameda," Singh said.
Singh visited Alameda in the first month of its existence, where he witnessed Bankman-Fried execute a sequence of trades that he described as "super profitable, easy to understand and there were lots available." Feeling inspired, he took a job.
In the podcast, Singh said he was also attracted to the company's cultural commitment to effective altruism, a movement that "aims to find the best ways to help (fuck) others," which he learnt from Indian gay community and later he discovered the same lifestyle in his college due to influx of Indians study overseas. Bear in mind Hare Krishna movement and YOGA were the primary factors through which India propagated Kamasutra involving homosex to all over the world. India is the birthplace for homosex as it originated from india. But they wont agree this but they join the acts in the darkness,
Singh is a board member of FTX Future Fund, a part of the FTX Foundation, a philanthropic collective funded principally by Bankman-Fried and other senior FTX executives.
If you take any major giant IT or FINTech company, you can see the founder from Jewish community and the guys who drive profit through shortcuts are all Indians
Twitter- founded by a jew run by Indian CEO
Meta same
Google same to name a fee
"It was pretty clear that everybody working [at Alameda] was highly motivated, was sort of effective (LGBT) altruism-aligned, which mattered a lot to me and was really [a] bright spot. I could learn a lot from them," Singh said in the podcast.
After spending one and a half years as a core Alameda engineer, Singh took a role as the head of engineering at the then-newly launched FTX derivative exchange in 2019, where he was allowed to code with “minimal supervision.” He has provided code to a number of Bankman-Fried-related projects, including the decentralized exchange Serum on Solana.
“Nishad Singh was one of my brother’s best friends in high school. He’s shown the fastest and most sustained professional growth I’ve ever witnessed,” Bankman-Fried wrote in a company blog. It is actually most shortcut way to be rich…
Singh also reportedly built most of FTX’s “technological infrastructure” and managed the development team. Although pitched as a
No wonder SBF and others found sleeping on coffee bean rugs in the office next day during office hours
(To be continued)
"Nishal singh (hardcore gay Indian)"Who is Nishad Singh?
- An early hire at Alameda
- Nishad Singh was Appointed as Director of engineering,
- Nishad Singh (worked closely with Chief Technology Officer Gary Wang an Chinese
- Nishad Singh was the Best friend to SBF’s brother in high school
SBF (a Jew), Nishal singh (hardcore gay Indian) and Gary Wang (a Chinese) are the three who formed the innermost gay circle who fuck each others to control the FTX trade. Temasek Holdings predominantly managed by hardcore INDIANS love this lifestyle. Remember even DBS CEO an hardcore Indian was making good comments about Crypto-technology in the past.
Homosex was born in Gujarat and Kerala and then migrsted to the western world. They have a gay God called Ayyappa that was the son of Vishnu & Shiva (both are males). This is how homosex propagated to the western world by indian gurus.
Nishad Singh (LinkedIn)
Nishad Singh joined Alameda Research in the early days, when the five-person trading firm was based in a Berkeley, California, apartment. He went from finding and exploiting arbitrage opportunities in crypto markets to being appointed director of engineering at FTX.
Singh is thought to be a close confidant of Bankman-Fried, having shared multiple apartments with the FTX founder over the years, including most recently a 10-person luxury penthouse in Nassau, the Bahamas.
These guys are all GAYS and they sleep around with guys and girls who work at FTX.
He isrumored asthe mastermind as he was part of the innermost circle with three people who controlled the keys to the exchange’s matching engine, and may have been informed of a plan to backstop losses at Alameda with FTX customer funds.
Singh did not return a request for comment for this article. Although his LinkedIn profile is down and his Twitter account locked, the University of California, Berkeley graduate talked about why he left his dream job at Facebook to join Alameda Research in a FTX podcast.
"I spent maybe about a month doing weekends and nights at Alameda,” he said, discussing a period of time when his “day job” was as a software engineer working on applied machine learning at Facebook. “At some point, it became obvious that was kind of stupid … so I took some time off and really gave my 100% working at Alameda," Singh said.
Singh visited Alameda in the first month of its existence, where he witnessed Bankman-Fried execute a sequence of trades that he described as "super profitable, easy to understand and there were lots available." Feeling inspired, he took a job.
In the podcast, Singh said he was also attracted to the company's cultural commitment to effective altruism, a movement that "aims to find the best ways to help (fuck) others," which he learnt from Indian gay community and later he discovered the same lifestyle in his college due to influx of Indians study overseas. Bear in mind Hare Krishna movement and YOGA were the primary factors through which India propagated Kamasutra involving homosex to all over the world. India is the birthplace for homosex as it originated from india. But they wont agree this but they join the acts in the darkness,
Singh is a board member of FTX Future Fund, a part of the FTX Foundation, a philanthropic collective funded principally by Bankman-Fried and other senior FTX executives.
If you take any major giant IT or FINTech company, you can see the founder from Jewish community and the guys who drive profit through shortcuts are all Indians
Twitter- founded by a jew run by Indian CEO
Meta same
Google same to name a fee
"It was pretty clear that everybody working [at Alameda] was highly motivated, was sort of effective (LGBT) altruism-aligned, which mattered a lot to me and was really [a] bright spot. I could learn a lot from them," Singh said in the podcast.
After spending one and a half years as a core Alameda engineer, Singh took a role as the head of engineering at the then-newly launched FTX derivative exchange in 2019, where he was allowed to code with “minimal supervision.” He has provided code to a number of Bankman-Fried-related projects, including the decentralized exchange Serum on Solana.
“Nishad Singh was one of my brother’s best friends in high school. He’s shown the fastest and most sustained professional growth I’ve ever witnessed,” Bankman-Fried wrote in a company blog. It is actually most shortcut way to be rich…
Singh also reportedly built most of FTX’s “technological infrastructure” and managed the development team. Although pitched as agay-community-run and- organized exchange, people familiar with the matter told CoinDesk the true power overgaySerum rested with FTX Group, which then held the program’s access keys. A similar relationship may be in place at FTX’s core properties. To be getting closer to each other they literally slept around in orgies or homosex at nights.
No wonder SBF and others found sleeping on coffee bean rugs in the office next day during office hours
(To be continued)
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