Discover and read the best of Twitter Threads about #FTXscandal
Most recents (9)
1/n
Grey area in securities regulation @SECGov has birthed a new phenomenon: bearer security tokens
Investors aren't aware of the risks associated w/ these assets so I wrote an article to share👇
Buyers Beware: Introducing Bearer Security Tokens👀
Link: blog.stomarket.com/buyers-beware-…
Grey area in securities regulation @SECGov has birthed a new phenomenon: bearer security tokens
Investors aren't aware of the risks associated w/ these assets so I wrote an article to share👇
Buyers Beware: Introducing Bearer Security Tokens👀
Link: blog.stomarket.com/buyers-beware-…
2/n
Security tokens are digital assets that comply w/ government securities regulations & automatically enforce rules, guidelines & parameters given a security
The @STOmarket secondary market capitalization has exploded more than 10x from last year to today & now sits @ $15B 🌴
Security tokens are digital assets that comply w/ government securities regulations & automatically enforce rules, guidelines & parameters given a security
The @STOmarket secondary market capitalization has exploded more than 10x from last year to today & now sits @ $15B 🌴
3/n
#Realestate has been cementing its place in the security token industry as a beneficiary of the technology since 2018 and 2019.🏚
We have seen a multitude of real estate security token offerings. According to the STM Real Estate Intelligence Report, by @pgaff_digital
#Realestate has been cementing its place in the security token industry as a beneficiary of the technology since 2018 and 2019.🏚
We have seen a multitude of real estate security token offerings. According to the STM Real Estate Intelligence Report, by @pgaff_digital
Sam Bankman-Fried was reportedly arrested in the Bahamas.
The day before he was supposed to testify in Congress.... 🤔
The day before he was supposed to testify in Congress.... 🤔
Here's a thread on the interview SBF did today, along with a link to the entire interview:
Does anyone know if this is legit?
Sam Bankman-Fried says he will testify before the congressional committee
Read the thread to know more! 🧵
#SBF #FTX #FTXScam #FTXScandal
Read the thread to know more! 🧵
#SBF #FTX #FTXScam #FTXScandal
He added in a tweet thread that he would try to give details on FTX US's solvency and American customers, pathways that could return value to users internationally, what he thinks led to the crash and his own failings.
The Senate had demanded he testify, but had been left with a pregnant silence up until now. A letter sent by senators threatened Bankman-Fried with a congressional subpoena if he refused to cooperate. The deadline for his response was set for 5pm ET yesterday.
Today, we attended the #FTX hearing by the @EP_Economics in the @Europarl_EN.
It was an interesting discussion, with the underlying question being
"Would #MiCA have prevented the FTX collapse? Will the new rules be enough to address those issues?"
A🧵with key quotes:
1/9
It was an interesting discussion, with the underlying question being
"Would #MiCA have prevented the FTX collapse? Will the new rules be enough to address those issues?"
A🧵with key quotes:
1/9
Speakers underlined this is not a #crypto issue, but a human one
"The lack of segregation of user data in the #FTXscandal demonstrates the legislative need for the #EU to apply existing data protection rules to the #crypto market"
MEP @itinagli, Chair of @EP_Economics
2/9
"The lack of segregation of user data in the #FTXscandal demonstrates the legislative need for the #EU to apply existing data protection rules to the #crypto market"
MEP @itinagli, Chair of @EP_Economics
2/9
"The #FTXscandal is caused by human behaviour!
It is to the #crypto market what Lehman Brothers represented for the traditional finance industry. Had #MiCA been already in place, the #FTX case should have never been possible"
MEP @DrStefanBerger, MiCA Rapporteur
3/9
It is to the #crypto market what Lehman Brothers represented for the traditional finance industry. Had #MiCA been already in place, the #FTX case should have never been possible"
MEP @DrStefanBerger, MiCA Rapporteur
3/9
✅#FTXscandal is sending shockwaves through crypto sector.
What is the long-term effects of #FTX's #bankruptcy❓ Will the domino effect happen❓
🤮Let's explore firms with exposure to #FTX's fall
Threat🧵👇
What is the long-term effects of #FTX's #bankruptcy❓ Will the domino effect happen❓
🤮Let's explore firms with exposure to #FTX's fall
Threat🧵👇
1/ #BlockFi - the world’s largest crypto lenders files for bankruptcy.
BlockFi had a $600M+ loan to FTX/Alameda and SBF was unable to repay.
BlockFi had a $600M+ loan to FTX/Alameda and SBF was unable to repay.
2/ Crypto lender @SALTLending halts withdrawals citing #FTXScandal impact
CEO of SALT said that "the collapse of #FTX has impacted our business." However, the full extent of the exposure was not disclosed
CEO of SALT said that "the collapse of #FTX has impacted our business." However, the full extent of the exposure was not disclosed
For all those people watching the #FTXScandal who also complained about hiring 87,000 IRS agents, which side are you on?
Why'd the Swamp want you mad t that IRS for expanding its “digital asset monitoring and compliance activities".
#ButNothingsHappening forbes.com/sites/robertwo…
Why'd the Swamp want you mad t that IRS for expanding its “digital asset monitoring and compliance activities".
#ButNothingsHappening forbes.com/sites/robertwo…
Wonder why the crypto markets are melting down as the IRS is going into "beast mode" going after people who evaded taxes by putting money into crypto in the first place!
So for 2021, IRS askes a simple question.
Did you receive, sell, exchange or dispose of any interest in virtual currency?
If they lied & said no, they just won a free IRS financial colonoscopy...
Did you receive, sell, exchange or dispose of any interest in virtual currency?
If they lied & said no, they just won a free IRS financial colonoscopy...
This is what happened with #FTX in a nutshell.
This is the story of FTX, the most preferred exchange after Binance and its founder Sam Bankman, the godfather of crypto and their valuation, from $32 Billion to zero in a matter of weeks. 👇
#FTXScandal #cryptonews #Bitcoin
This is the story of FTX, the most preferred exchange after Binance and its founder Sam Bankman, the godfather of crypto and their valuation, from $32 Billion to zero in a matter of weeks. 👇
#FTXScandal #cryptonews #Bitcoin
Sam Bankman-Fried, a bright student who graduated from MIT with major in Physics and minor in Maths started his career in a trading firm - that didn't go well.
In 2018 he actually made a blow by making $25Million in a single day with arbitrage trading.
In 2018 he actually made a blow by making $25Million in a single day with arbitrage trading.
April 2019, FTX was launched and Sam started to dream of conquering the world. CZ (CEO of Binance) and Sam had a quality friendship that lead to Binance investing in FTX in the hope of a fruitful partnership.
Who knew that this newbie is going to hit Binance's door someday!?
Who knew that this newbie is going to hit Binance's door someday!?
DAN FRIEDBERG
🧵
Complete thread > facebook.com/groups/1195377…
#DANFRIEDBERG
#FTXFraud
#FTXScandal
#FTXbankruptcy
🧵
Complete thread > facebook.com/groups/1195377…
#DANFRIEDBERG
#FTXFraud
#FTXScandal
#FTXbankruptcy
As the scale of the fraud, mounting into the deca-billions, is discovered, we are distracted by the pantomime being played out with SBF and his “gang of 4”. It is all misdirection! The puppet master behind the scenes is Dan Friedberg, FTX “legal Counsel”.
While the world is leaked stories of drug fuelled sex orgies at the Bahama penthouse of SBF, Harry Potter Math defect, Caroline Ellison and strange hacks on FTX draining the last remaining value of client funds, we don’t see much about Dan Friedberg. He is back at home
1/ Talk about #proofofreserves /liabilities/solvency as the solution to @FTX_Official misses the surrounding parts which could make crypto a viable alternative to the fiat system. Join as we journey through:
☑️ Quality of reserves
💸 Capital &💧liquidity
💰 Collateral
#FTX
☑️ Quality of reserves
💸 Capital &💧liquidity
💰 Collateral
#FTX
2/
🧾 Transaction histories and 💳 Credit scores
％ Fractional banking
🪙 New money creation
with a little bit of:
🆔 @w3c Verifiable Credentials #W3C
to build consumer protection and stop this happening again🛑. It's going to be a long one, strap in!
#FTXScandal
🧾 Transaction histories and 💳 Credit scores
％ Fractional banking
🪙 New money creation
with a little bit of:
🆔 @w3c Verifiable Credentials #W3C
to build consumer protection and stop this happening again🛑. It's going to be a long one, strap in!
#FTXScandal
3/ Let's start with ☑️ Quality of Reserves. This is covered excellently by the @FT below so pulling out the key pieces from FTX 👇
#cryptosignals #ftxbankruptcy #ftxwithdrawal
#cryptosignals #ftxbankruptcy #ftxwithdrawal
