The FTX Collapse Explained In 5 Minutes
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The Matt Kohrs Show
Recent Content You'll Enjoy π» π₯π±
The Real FTX Scam Mastermind (Video): https://youtu.be/OMt73RG_VzI
Ridiculous Markets (Stream): https://youtu.be/3XqZlRx7Tgs
Elon Musk Lost BIG! (Short): https://youtube.com/shorts/r3yHyZcSKIg
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Track My Trades & Share Yours:
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πππ Emoji Charting: http://bit.ly/TradingViewChartingSoft...
#BitBoy #Crypto #FTX #SBF
RISK WARNING: Trading involves HIGH RISK and YOU CAN LOSE a lot of money. Do not risk any money you cannot afford to lose. Trading is not suitable for all investors. We are not registered investment advisors. We do not provide trading or investment advice. We provide research and education through the issuance of statistical information containing no expression of opinion as to the investment merits of a particular security. Information contained herein should not be considered a solicitation to buy or sell any security or engage in a particular investment strategy. Past performance is not necessarily indicative of future results.
Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
Foreign to maybe the people who need a quick refresher. Can you give us that tldr of what went down with FTX Like if you had to explain it to someone one, two, three minutes, could you give us the story of kind of the early November until about now? agreed? There you go. That's that. that. That's the story is a story of greed. It's a story of power. It's a story of money laundering. It's a it's a story of political donations. uh. and all this stuff is proven. None of it is. you know, hyperbole. None of it is. You know we're exaggerating. You know, even the politicians Maxine Waters was on uh TV on TV a couple nights ago on the news and she said yeah, we think there's something wrong with this money that was given pretty much was, uh, not to put words in her mouth. That's pretty much what she said and so you know it. really. you have to go back to Alameda Research Alameda Research was a venture capital arm or it actually was where all this started so it wasn't an arm at that point. it was just a VC you know firm and they had made their money investing in a lot of different projects including Solana which there's gonna be some stuff coming out about Salon in the next few weeks. people are not gonna like uh either because the story has got so many tentacles it keeps going. We found out some more stuff about what they were doing as well. But basically when it comes to uh Alameda they created a company called FTF was the original I think he was technically in the beginning he was the CEO of Alameda. He ended up moving to the CEO of FTX. He he owned almost all of both companies and he owned a lot of it. He was the The Mastermind. Well, he was the front man at least for it and he definitely did have a role in some of the masterminding stuff. But what he did is they created basically an online casino and online casino which was FTX It was the casino for the degenerate gambling from Alameda and they would pass money back and forth. They created the Ftt uh token which is interesting. Uh, you look at Binance coin. For instance, with Binance BNB it has a utility you know it can, it serves for gas on the BNB chain or and then also on top of that you have you get trading fee discounts when you use it on the on the site for binance. After he had no utility, it was just a token there. It was like why? because all they did was wash, traded back and forth with Alameda And so there's a lot to the story. But one of the aspects of this was that if you look at the ratios of longs to shorts on FTX, it was drastically on the side of shorts. It's almost like an infinite amount of shorts on that site. Compared to other places, You're like why what they were doing is for a lot of these projects, they were creating synthetic uh uh, a Perpetual Futures contracts. They were also creating literally counterfeit coins for some of these projects that they listed on there. There's plenty of other predatory business practices they were doing which we could get into. However, what they were doing is they were. They were counterfeiting the supply on the exchange so there was only so much really liquid. They were just putting zeros and ones and saying hey, this is how many coins we had. So what happens is is that their insolvency hold kept getting bigger and bigger and bigger because when they would counterfeit the coins, what people would come in and withdraw and every time they withdrew they were actually withdrawing real assets and So eventually it was a little insolvency. Whole, it got a little bit bigger, a little bit bigger, a little bit bigger. Alameda had a back door built in where they could borrow as much money as they want so they could pull any of the real liquidity and eventually it just caught up with them. Um, we had been working on a story with NBC news with Gretchen Morgenson. Uh, about everything we knew about FTX Uh, this was the I think like November 1st or October 30th or somewhere around there Halloween That's when we started. Uh, down this rabbit hole with the insolvency and with Gretchen Morgensen and what happens is in the middle of us doing the story. we put out a tweets and get your money off FTX Whatever you do, take your money off. So we were warning people. October 29th was when we did that tweet we started finding out about this stuff. Well what happens is CZ from Finance just blew the whole thing up. We were working on this story and we were going to try to introduce in a way that didn't totally wreck the market because we were being sensitive. Of the people that you know, number one had money in the market, number one had money on FTX I believe Brett Harrison the former CEO of uh FTX us he's The Whistleblower he stepped down or got fired from FTX us. the next day he followed me on Twitter I think that was a sign. He was a good guy. he was trying to get out. he wanted to tell somebody. he ended up not messaging me. But the point is is that when Brett Harrison left, um, you know and that insolvency hole kept getting bigger and bigger and bigger. He then blew the whistle to CZ about the books there and also he had internal information about Sam trying to throw CZ and Binance under the bus. he dumped all of his Ftt tokens which were just an inflated nothing coin that you know FTX and Alameda trade back and forth and it destroyed the liquidity it dropped I think 85 in one day. Uh people lost a bunch of money. They had to freeze withdrawals on the site. People saw the insolvency hole and uh you know the rest is history.
Everyone is a genius after somethign happens. LMAO! fuukboi crapto
Just had lunch at an Alameda brewhouse. Almanac Doom Scroll IPA, Mario Bros food truck burger was good. Was a nice break from Marin, would return.
We need to DEMAND investigations into everyone involved, every politician, and independent investigations into the SEC and Gary Gensler specifically!!!
Jail SBF
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