#alameda research

[ammaterasu]

A visual representation of Fandom, 2023

[ophilosoraptoro]

Witnessing Corruption - FTX and Sam Bankman-Fried

About 5 months old, so some of the info might be outdated, but still feels relevant.

SBF didn't kill himself.

[financial25]

FTX Reaches Court Against Bankrupt Firm Genesis

FTX Strategy for Claim Selling and Potential Impact on Genesis Cryptocurrency exchange FTX, which has shut down against the bankrupt digital financial services firm Genesis Global Capital, has filed a petition in the Delaware District Court. In this petition, FTX has demanded that it wants to sell its claim against Genesis for $175 million. It is worth mentioning that the claim against the bankrupt firm Genesis Global Capital was made by the hedge fund Alameda Research associated with FTX. FTX cryptocurrency exchange is facing hurdles in relaunching of FTX 2.0. 

[wauln]

[ FTX Founder Sam Bankman-Fried Found Guilty ]

[telerealrd]

Fundador de FTX, Sam Bankman-Fried, encontrado culpable de fraude financiero masivo

El fundador de FTX, Sam Bankman-Fried, fue declarado culpable el jueves de defraudar a los clientes de su ahora en bancarrota casa de cambio de criptomonedas en uno de los fraudes financieros más grandes registrados, un veredicto que cementó la caída del exbillonario de 31 años de gracia. Un jurado de 12 miembros en la corte federal de Manhattan lo condenó por los siete cargos que enfrentaba…

[immaculatasknight]

Futuristic snake pit

[cyberianlife]

FTX co-founder Sam Bankman-Fried was hit Thursday with four new criminal charges, including ones related to commodities fraud and making unlawful political contributions, in a superseding indictment filed in New York federal court.

A source familiar with the new counts said that SBF, as he is popularly known, could face an additional 40 years in prison if convicted in the case, where he is accused of “multiple schemes to defraud.”

The new charging document lays out in greater detail Bankman-Fried’s allegedly fraudulent conduct related to his cryptocurrency exchange FTX and an associated hedge fund, Alameda Research, both of which went bust in late 2022.

[quotesfrommyreading]

This is a great way to talk about FTX and Alameda Research, and how they got into trouble with their stupid tokens. They created this incredibly convoluted mechanism out of thin air. A token is just code they created that has no value, but then you can make it very visible and pump it up to make it valuable. But it’s nothing. It’s smoke and mirrors. There’s nothing really complicated there, but it looks complicated if you don’t understand what they’re doing.

Crypto hides behind all this complexity, and people hear words like blockchain and get confused. You hear about decentralized networks and mining, and it sounds complicated. But you get right down to it, and it’s just a ledger. It’s just like somebody writing down numbers in a book, and it’s page after page of numbers. That’s all it is.

  —  Crypto Was Always Smoke and Mirrors

[apieinvestavimapaprastai]

FTX pamokos investuotojams į crypto ir ne tik

FTX pamokos - kas jas mokinsis? Tuo labiau, kas jas išmoks? Tik kol karštos naujienos, investuotojai ir spekuliantai į tai kreipia dėmesį #ftx #sbf #alamedaresearch #bitcoin #btc #ethereum #ftt #manipulation #risk #riskmanagement

FTX pamokos – kas jas mokinsis? Tuo labiau, kas jas išmoks? Tik kol karštos naujienos, investuotojai ir spekuliantai į tai kreipia dėmesį ir reaguoja standartiniu būdu: išima pinigus iš rinkos. Bent taip apsisaugoma. O paskui… vėl lipama ant to pačio grėblio. Continue reading Untitled

[alanshemper]

22 December 2022 - by Amy Castor and David Gerard

Caroline realised the other guy in the prisoner’s dilemma was Sam, and mashed the “betray” button as hard and fast as was humanly possible.

[geezerwench]

The U.S. government charged Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes on Tuesday, alleging he intentionally deceived customers and investors to enrich himself and others, while playing a central role in the company's multibillion-dollar collapse.

Huh. The guy who donates mostly to Democrats (and some Republicans) gets arrested, but if you're a Republican you can do the insider trading, and cheat all kinds of ways, commit fraud left and right, cheat the government and people, but go on about your day.

[emsergipe]

FTX: Sam Bankman-Fried é preso em sua casa nas Bahamas

FTX: Sam Bankman-Fried é preso em sua casa nas Bahamas

Após apresentação de acuações de promotores dos EUA O fundador e ex-CEO da FTX, Sam Bankman-Fried foi preso em sua casa nas Bahamas nesta segunda-feira (12) após promotores estadunidenses apresentou acusações criminais, de acordo com declaração do governo das Bahamas. [themoneytizer id=”– Choose ad unit –“]   “A prisão de S.B.F. seguiu-se após o recebimento de notificação formal do Estados…

[blockchainnftgaming]

Winklevoss Twins Crypto Billionaire Clients Beg for Lost Funds

Winklevoss Twins Crypto Billionaire Clients Beg for Lost Funds

The Winklevoss twins’ Gemini cryptocurrency exchange is trapped in Sam Bankman-Fried and Alameda Research’s FTX collapse. Cameron (left) and Tyler Winklevoss (right) Michael Prince for Forbes, Sam Bankman-Fried Guerina Blaska for Forbes The Winklevoss Twins promised “real profits” to Gemini users who signed up for their loan program. Clients now owe $900 million as the contagion that began with…

[cyberianlife]

The best known figure of the FTX bankruptcy is - of course - its notorious former CEO Sam Bankman-Fried. But there were dozens of other top executives at the firm. Some of them with titles ranging from Chief Technology Officer to Business Development. Prosecutors are likely scrutinizing them to better understand what role they played at Alameda. At issue is the alleged illegal transfer of billions of customer dollars from FTX to its sister company Alameda Research. So any employees associated with Alameda may likely be under review… So who are the power players most closely associated with Alameda and FTX? And what’s next for them?

[avandelay20]

“

It is now clear that what happened at the FTX crypto exchange and the hedge fund Alameda Research involved a variety of conscious and intentional fraud intended to steal money from both users and investors. 

That’s why a recent New York Times interview was widely derided for seeming to frame FTX’s collapse as the result of mismanagement rather than malfeasance. A Wall Street Journal article bemoaned the loss of charitable donations from FTX, arguably propping up Bankman-Fried’s strategic philanthropic pose. Vox co-founder Matthew Yglesias, court chronicler of the neoliberal status quo, seemed to whitewash his own entanglements by crediting Bankman-Fried’s money with helping Democrats in the 2020 elections – sidestepping the likelihood that the money was effectively embezzled.

In reality, the funds were sent to the intimately linked trading firm Alameda Research, where they were, it seems, simply gambled away. This is, in the simplest terms, theft at a nearly unprecedented scale. While the total losses have yet to be quantified, up to one million customers could be impacted, according to a bankruptcy document.

In less than a month, reporting and the bankruptcy process have uncovered a laundry list of further decisions and practices that would constitute financial fraud if FTX had been a U.S. regulated entity – even without any crypto-specific rules at play. Insofar as they enabled the effective theft of the property of American citizens, these ploys may still be litigated in U.S. courts.

...

The scale and complexity of Bankman-Fried’s fraud and theft appear to rival those of Ponzi schemer Bernie Madoff and Malaysian embezzler Jho Low. Whether consciously or through malign ineptitude, the fraud also echoes much larger corporate scandals such as Worldcom and, particularly, Enron.

The principals in all of those scandals wound up either sentenced to prison or on the run from the law. Sam Bankman-Fried clearly deserves to share their fate.

“