- Tokengraph
- Posts
- đż The FULL FTX Story + LEAKED DMs
đż The FULL FTX Story + LEAKED DMs
Reading time 2m41s
GM degenz âïž
Right now, the Tornado Cash developer is sitting in a jail cell, still without having faced formal charges, while SBF runs free-range across the Bahamas and plays video games in his $40M mansion.
The lesson: multi-billion dollar fraud is okay, especially when you donate to democrats, but developing a powerful open source tool that moves civilization forward toward financial fairness and freedom is basically terr0rism đ
Yeah, this is totally all about your safety.
Today's Agenda:
FTX Saga Recap đ„
Leaked DMs from SBF đŠ
Current State of Crypto â ïž
Genesis Halts Withdrawals đ
El Salvador Doubles Down đ
The Full FTX Story So Far
This Twitter thread follows the trail of SBFâs public statements about FTX.
Itâs worth a read â
It shows how he lied about many things, including not using customer funds to gamble with and no longer being involved with Alameda. It even reminds us that he lied to congress under oath.
So basically it seems like he was just making shit up all along and fooling âthe adults in the roomâ into believing he was some sort of crypto genius, so how dare they question anything he said?
Legislators, Democrat politicians, and other âlow-infoâ types bought in to the narrative he paid the media to spin about him, and it led to thousands of people losing their life savings.
The worst part is that there was never even a slight indication that he was intelligent or stable. He just spewed w0ke nonsense (such as his âeffective altruismâ and pretending to be vegan), which looks like smart talk to dumb people.
The signs were all there.
Watch this video which consists of SBF saying that KYC for email is an affront to freedom of speech, but KYC for finance (such as Aave) is not.. for some reason. It shows the level of intellectual engagement heâs capable of, which is not very high if weâre being honest.
It turns out heâs not even ethical, either, which weâll see in the next section.
Vox Writer Drops Bombshell Text Interview with SBFraud
The author of this Vox article, Kelsey Piper, is a senior writer at Future Perfect, Voxâs âeffective-altruism-inspiredâ section.
In the article there are several screenshots of Twitter DMs from SBF where he tries to explain himself.
Theyâre absolute gold. For example:
âTeChNiCaLlY I DiDnâT LiEâ, implied the slippery CEO about his statements that FTX doesnât invest user deposits.
That wasnât FTX; it was Alameda!
Canât wait to see him try that in court đ
He also admitted that all the ethics stuff was just a big game he was playing - a front he put on to get people to like him.
The full conversation spans about 20 screenshots, and itâs worth digging into if you want to get a better understanding of what was going on at FTX and Alameda from SBFâs perspective.
The Current State of Crypto
The hammer is coming down on some of the infl00encers who helped peddle FTX.
Thatâs not all though - Binance is also coming under scrutiny for their involvement in crashing FTX.
After the dust settles, weâll have a better understanding of the rules and regulations surrounding the crypto space, and hopefully the next bull run has just a touch less bullshit about it.
But before we get to settled dust, there may very well be more pain to come.
Fortunately for average folks like us who arenât playing a game of high stakes poker with our savings (or other peoplesâ), none of this really matters.
Put your crypto in self-custody and sit back and watch the show đż
And if you want to know what *actual* âgood guysâ in crypto are thinking right now, look no further than Vitalik.
What was SBF peak net worth?
Tap your answer below to see if youâre right!
Web3 Pipeline đą
Genesis Global Halts Withdrawals - citing 'unprecedented market turmoil' (read: crypto contagion; they are still suing 3AC for $1.2B and reportedly had $175M stuck on FTX). Theyâre also the liquidity provider to the $6.7B Grayscale Bitcoin Investment Trust. What a mess.Hereâs a detailed thread covering it.
Cristiano Ronaldoâs CR7 NFTs - the collection drops on Binance this week and includes a variety of digital assets, such as videos, images, and audio files. This is the first drop of many more to come in the international superstarâs multi-year partnership with Binance.
El Salvador Doubles Down on BTC - President Nayib Bukele said in a tweet the country is buying one bitcoin every day starting tomorrow; itâs unclear how long they plan to continue this strategy, but more power to El Salvador!
NFT drops of the day đ
đș LILY | TBA (SOL)Nov 18 - in expanding the Lotus brand, LILY aims to become the landing page of the new web pushing the boundaries through innovative technology, art and informed community.
đ NOTE: drops not promoted/endorsedâ DYORÂ and practice safe minting!
Not a conspiracy theory - itâs part of the historic record available to all.
ALSO:
Funny how FTXâs relatively minor collapse gets global coverage for a week straight but nothing about the $2.3T that went missing 20 years ago đ€
FTX is a convenient distraction that was literally propped up and then torn down by the same media outlets.
It has nothing to do with crypto.
Thatâs all for today frens!
How was today's newsletter? Help us get better:
đ Awesome - Iâll be backđ Meh - just OKđ Not great - do better
Thanks for voting! We can only improve with feedback from little geniuses like you.
Todayâs Tokengraph is brought to you by Brave
Tired of targeted ads following you across the web and not even earning anything for your time and attention?
You need to switch browsers â
Escape the vortex of the data vacuum that big tech uses to suck up all your personal information, including the sites you visit, the things you buy, your search history and browsing patterns, etc.
Take back control with Brave, the only browser that effectively blocks ads & trackers, phishing & malware, and shares a portion of ad revenue in its native crypto, if you opt in to see ads.
But thatâs not even the best part đ
Brave saves mobile bandwidth and battery life, and loads pages 3x faster.
Works great on your phone đ±
Superior desktop browsing đ»
It even has its own crypto wallet đȘ
Ready to join the movement for a free and fair, user-first web experience?
It only takes 60 seconds to switch.
Download Brave today, geniuses đĄ
DISCLAIMER: This is not financial advice. This newsletter is strictly educational and is not investment advice to buy or sell any assets or to make any financial decisions. Do your own research.