Porfolio Armor

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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David Pinsen

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17 responses to “Theft At FTX”

  1. DAS KAPITAL: ‘Fast & Furious’, The FTX Collapse Explained In 99 Seconds – By Alexandra Bruce | RIELPOLITIK Avatar
    DAS KAPITAL: ‘Fast & Furious’, The FTX Collapse Explained In 99 Seconds – By Alexandra Bruce | RIELPOLITIK

    […] (Also Read: Theft At FTX @ https://blog.portfolioarmor.com/2022/11/12/friday-night-theft-at-ftx/) […]

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  2. US aid to Ukraine invested in crypto FTX scheme

    […] 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. US aid to Ukraine invested in crypto FTX scheme – Allah's Willing Executioners

    […] 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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  4. US Aid to Ukraine Invested in Crypto FTX Scheme – Europe Reloaded

    […] 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. US aid to Ukraine invested in crypto FTX scheme | The Most Revolutionary Act

    […] 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. COVER-UP: So, Ukraine Was A Money Laundering Operation All Along? | RIELPOLITIK Avatar
    COVER-UP: So, Ukraine Was A Money Laundering Operation All Along? | RIELPOLITIK

    […] 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. […]

    Like

    Reply
  7. US Aid to Ukraine Invested in Corrupt Crypto FTX Scheme. “Instead of using funds to fight Russia, the money was invested in the FTX Ponzi scheme” – Counter Information Avatar
    US Aid to Ukraine Invested in Corrupt Crypto FTX Scheme. “Instead of using funds to fight Russia, the money was invested in the FTX Ponzi scheme” – Counter Information

    […] 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. […]

    Like

    Reply
  8. US Aid to Ukraine Invested in Corrupt Crypto FTX SchemeSouth Front

    […] 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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  9. Americkú pomoc Ukrajine investovali do schémy krypto FTX, ktorá skrachovala – SKsprávy.sk

    […] Krypto peniaze od nič netušiacich klientov boli tiež použité na financovanie Demokratickej strany v Spojených štátoch. Objavili sa ďalšie dôkazy, ktoré naznačujú, že finančné prostriedky mohli byť ukradnuté. […]

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  10. L’aide américaine à l’Ukraine investie dans un programme corrompu de Crypto FTX – MIRASTNEWS Avatar
    L’aide américaine à l’Ukraine investie dans un programme corrompu de Crypto FTX – MIRASTNEWS

    […] L’argent crypto de clients sans méfiance a également été utilisé pour financer le Parti démocrate aux États-Unis. D’autres preuves ont fait surface suggérant que les fonds pourraient avoir été volés. […]

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  11. US Aid to Ukraine Invested in the FTX Ponzi Fraud – THE INTEL DROP

    […] 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. US aid to Ukraine invested in crypto FTX scheme | peckford42

    […] 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. US aid to Ukraine invested in crypto FTX scheme • Zero-Sum

    […] 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. […]

    Like

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  14. US Aid to Ukraine Invested in Corrupt Crypto FTX Ponzi Scheme Linked to Democratic Party — PatriotandLiberty

    […] 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. […]

    Like

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  15. US Aid to Ukraine Invested in Corrupt Crypto FTX Scheme. “Instead of using funds to fight Russia, the money was invested in the FTX Ponzi scheme” | Atlas Monitor

    […] 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. […]

    Like

    Reply
  16. US Aid to Ukraine Invested in Corrupt Crypto FTX Scheme. "Instead of using funds to fight Russia, the money was invested in the FTX Ponzi scheme" – Global ResearchGlobal Research – Centre for Research on Globalization – AW Blog

    […] 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. […]

    Like

    Reply
  17. United States Aid to Ukraine Invested in Corrupt Crypto FTX Scheme. "Instead of using funds to fight Russia, the money was invested in the FTX Ponzi scheme" – Global ResearchGlobal Research – Centre for Research on Globalization – AW Blog

    […] 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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