Theft At FTX

Sam Bankman-Fried

FTX Wallets Just Got Emptied

Whoever was emptying the wallets at the bankrupt crypto exchange was taking everything. 

FTX’s general counsel Ryne Miller didn’t know why the money was moving…

And FTX founder Sam Bankman-Fried claimed to not know the fund were moving at all…

Why This Might Have Been An Inside Job

Could this be the getaway plane?

Update: apparently not. Reportedly, SBF is “under supervision” in the Bahamas.

As it turns out, both of Sam Bankman-Fried’s parents are law professors. Knowing good lawyers may come in handy for him.

In any case, this seems like terrible news for the whole crypto complex. In my previous post (“Fading The Post-CPI Rally“), I mentioned buying puts on the bitcoin miner Riot Blockchain, Inc. (RIOT). I wouldn’t want to be long any name associated with crypto on Monday. 

Saturday Evening Updates

A good summary of the FTX saga prior to Friday night’s brazen theft:

Our correspondent Anatoly Karlin, who predicted the Russian invasion of Ukraine and, before that, the COVID crash, predicted FTX’s downfall too (although it didn’t require Bitcoin to drop as low as he thought). 

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17 responses to “Theft At FTX”

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  2. […] The crypto money from unsuspecting clients was used to fund the Democratic Party in the United States, but it now new evidence has surfaced suggesting that the funds may have been stolen. […]

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  3. […] The crypto money from unsuspecting clients was also used to fund the Democratic Party in the United States. More evidence has surfaced suggesting that the funds may have been stolen. […]

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  4. […] The crypto money from unsuspecting clients was also used to fund the Democratic Party in the United States. More evidence has surfaced suggesting that the funds may have been stolen. […]

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  5. […] The crypto money from unsuspecting clients was also used to fund the Democratic Party in the United States. More evidence has surfaced suggesting that the funds may have been stolen. […]

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  6. […] The crypto money from unsuspecting clients was also used to fund the Democratic Party in the United States. More evidence has surfaced suggesting that the funds may have been stolen. […]

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  7. […] The crypto money from unsuspecting clients was also used to fund the Democratic Party in the United States. More evidence has surfaced suggesting that the funds may have been stolen. […]

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  8. […] Krypto peniaze od nič netuĆĄiacich klientov boli tieĆŸ pouĆŸitĂ© na financovanie Demokratickej strany v SpojenĂœch ĆĄtĂĄtoch. Objavili sa ďalĆĄie dĂŽkazy, ktorĂ© naznačujĂș, ĆŸe finančnĂ© prostriedky mohli byĆ„ ukradnutĂ©. […]

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  9. […] L’argent crypto de clients sans mĂ©fiance a Ă©galement Ă©tĂ© utilisĂ© pour financer le Parti dĂ©mocrate aux États-Unis. D’autres preuves ont fait surface suggĂ©rant que les fonds pourraient avoir Ă©tĂ© volĂ©s. […]

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  10. […] The crypto money from unsuspecting clients was also used to fund the Democratic Party in the United States. More evidence has surfaced suggesting that the funds may have been stolen. […]

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  11. […] The crypto money from unsuspecting clients was also used to fund the Democratic Party in the United States. More evidence has surfaced suggesting that the funds may have been stolen. […]

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  12. […] The crypto money from unsuspecting clients was also used to fund the Democratic Party in the United States. More evidence has surfaced suggesting that the funds may have been stolen. […]

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  13. […] The crypto money from unsuspecting clients was also used to fund the Democratic Party in the United States. More evidence has surfaced suggesting that the funds may have been stolen. […]

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  14. […] The crypto money from unsuspecting clients was also used to fund the Democratic Party in the United States. More evidence has surfaced suggesting that the funds may have been stolen. […]

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  15. […] The crypto money from unsuspecting clients was also used to fund the Democratic Party in the United States. More evidence has surfaced suggesting that the funds may have been stolen. […]

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  16. […] The crypto loan coming from unwary customers was actually additionally utilized to cash the Democratic Party in the United States. More proof has actually appeared proposing that the funds might possess been actually taken. […]

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