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kleinbl00  ·  753 days ago  ·  link  ·    ·  parent  ·  post: Y'all we gotta talk about FTX.

Ohhhhhhh shit son

1) Sam Bankman-Fried's parents are tax professors at Stanford and Democratic insiders

2) Sam Bankman-Fried's girlfriend/the CEO of Alameda is the daughter of a statistics professor at MIT whose lab has been financed by Bill Gates and Jeffrey Epstein

3) What money FTX has spent? They have spent on buying Democrats. SBF was Biden's 2nd-largest donor

4) All of their money was created out of thin air - they would make a token, sell 1% of it for $1m, keep 99% of it, and then say they had $100m in assets to get a loan with

5) The only people who could invest were chummy rich people who were basically greater-fool-theorying each other ("I can tell this is a scam, but I am smarter than the average bear, so I just need to sell it before the scam is revealed")

6) The actual failure is Gob Bluth stupidity, over and over and over and over and over again

7) It's a bunch of kids in the Bahamas mainlining Adderal and fucking each other (while also fucking over the banking system)

8) It's the guy who pretended to practice "effective altruism" while also grabbing the money brazenly

9) They were pushing real hard for regulation that would lock everybody else out while allowing them to pursue their shady shit under defacto monopoly status

10) Michael Lewis was embedded in this bullshit for the past six months fanboi-ing the shit out of SBF so of course, not even he saw the surprise ending

11) Jonah Hill looks a fuckton like Sam Bankman-Fried

12) errrrbody hates crypto, and this is crypto that bought naming rights to a goddamn stadium

...that's just off the top of my head. If you would like some hot takes, here's the financial view There was an awesome thread (since deleted) that legit mentioned reptilians.