Alameda is next

Discussion in 'Crypto Assets' started by Pekelo, Nov 6, 2022.

  1. Pekelo

    Pekelo

    Maybe we should start a Kickstarter for NOT releasing the video. She is fugly beyond comprehension with a touch of Lolita.

    I don't want to kink shame SBF, but for a few millions you can buy really cool chicks.
     
    #81     Nov 16, 2022
  2. Is the goblin still in Hong Kong or did she make it to Dubai ?


    Meanwhile,





    Will he be fleeing to Dubai too ?


    How's the real estate market in Dubai?

    Perhaps Dubai needs to build a wall to keep these bad hombres and goblins out.
     
    #82     Nov 16, 2022
    johnarb likes this.
  3. Despite the hype of 50-shades has died down somewhat, there definitely seems to be a lot of men in my town snooping around for the best local Pro-Dommes (don't ask me how I know this so well).

    That said, I can only imagine the volume of e-mail SBF used to get by every Fin-Domme across the planet. Yes, apparently that's a thing, and it went viral too after The Learning Channel did some lame show on it.

    In all honesty, forget a Domme or GF/wife. Just go to BangCock and find yourself a 10-out-of-10 shemale to rent for the night. No hassle or longterm problems like divorces, etc.

    Hell, no one has to even know what you do in the bedroom. And your Millions/Billions will go a lot farther that way.
     
    #83     Nov 16, 2022
  4. cesfx

    cesfx

    Shemale?

    Shiiieeeeeet! :D

     
    #84     Nov 16, 2022
  5. Harry Potters twin sister with strap-on? No Thanks!
     
    #85     Nov 16, 2022
  6. Pekelo

    Pekelo

    This is from reddit, pretty funny:

    "This. Normies can’t understand the thrill of pinning the weasel. Night spent chasing an over amphetamined Caroline around the bean bag forts. Her squealing and gibbering, pouring sweat and on the verge of seizing. Your friends build up an intoxicating, delerious state with Talmudic chantings at the sidelines, hitting the Caroline-toy with brooms if she tries to escape. Sam would be giggling and laughing as the waves of methamphetamine pleasure seem to harmonize with the droning herbrew verses. He runs through the bean bag maze fat and portly, with his viagra powered penis a driving rod for the weasel. Sweat gushing down his face around his unfocused eyes he laughs and chortles until he gasps “Found you!” . The Mathweasel screeches defensively but Wankman Bankman is upon her in seconds. His penis thrusting blindly into her flank, leg, stomach and ribs unconcerned about anything but the motion. Eventually serendipity finds her mouth and the Cocktube Rodent is placated, suckling contently on Bankman’s dehydrated dick."
     
    #86     Nov 16, 2022
    d08 likes this.
  7. image.png
     
    #87     Nov 16, 2022
    cesfx likes this.
  8. themickey

    themickey

    Not a bad description, do you have any more details?
     
    #88     Nov 17, 2022
  9. hoffmanw

    hoffmanw


    Just some MIT kids don't know to trade and lost all their client money in Bahamas. They probably thought they are genius and could beat the market.
     
    Last edited: Nov 17, 2022
    #89     Nov 17, 2022
  10. Pekelo

    Pekelo

    A really good summary of what happened:

    "He never made millions unless you count scamming people with shitcoins with 1% free float as "making millions".

    SBF/Alameda's initial strategy was arbitraging price differences between US and Korea/Japan. The different crypto exchanges in different countries would have different prices for the same coin. In theory this was possible but in practice it was basically impossible. They lost money in Korea due to capital controls, they made some money in Japan but still lost money overall due to the enormous amounts they had to borrow and the high interest rates they were paying.

    The arbitrage strategy wasn't working so they switched to shilling shitcoins. Basically they would create a new token backed by say $5m seed money, put like 1% of the total number of tokens created on the market, then use their own money to pump up the token price by 100x. Since they owned and controlled 99% of the total amount of tokens, this was easy to do. Now their initial $5m is worth $500m, but only on paper because liquidity on these tokens is tiny and if they actually tried to sell it would immediately crash.

    Alameda did this in order to get loans using the tokens that they created and pumped as collateral. Then they took the borrowed money to make large directional bets on crypto prices. However it turned out they were bad at trading crypto and took billions in losses and the margin calls started coming in for their loans.

    At this point Alameda was stuck, the collateral backing these loans were all shitcoins and if they started selling them the price would crash causing the entire company to go under. Since SBF couldn't meet the margin calls by liquidating the underlying collateral, he and the other founders decided to steal money from customer accounts at FTX to meet the margin calls. Basically they would give Alameda their own FTX token(FTT) and then have FTX loan customer funds to Alameda using the tokens they just gave them as "collateral". It was essentially the same scam as the one they pulled on lenders, only now they're doing it to customers while promising they would never touch customer funds.

    Alameda kept losing money and eventually the scheme was discovered and it ended up being they stole something like 2/3 of the customer funds at FTX. Current estimates are at about $10 billion they lost gambling on crypto with customer money. It was a classic case of a gambler kept doubling down and borrowing and stealing until it came crashing down.

    This isn't a Ponzi scheme though, they weren't paying old customers with funds from new customers. This is just plain old theft, fraud, gambling, and being really bad at trading crypto.

    EDIT: Oh yeah and let's not forget SBF heavily encouraged his own employees to invest their life's savings into the company's shitcoin(FTT) and even paid people in FTT tokens. Those employees also lost everything and one of them probably stole the $600 million in the aftermath.

    EDIT #2: As we speak all those DeFi lending idiots who lent money to SBF/FTX/Alameda money are also falling over like dominos."

    https://www.theverge.com/2022/11/16...s-brokerage-suspends-withdrawals-ftx-collapse

    https://www.bloomberg.com/news/arti...n-imminent-bankruptcy-filing-amid-ftx-fallout
     
    #90     Nov 17, 2022
    themickey and cesfx like this.