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The New Coffee Room

  1. TNCR
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  3. SBF/FTX

SBF/FTX

Scheduled Pinned Locked Moved General Discussion
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  • J Offline
    J Offline
    jon-nyc
    wrote on 18 Nov 2022, 00:26 last edited by jon-nyc
    #6

    Everyone he donated money to could be subject to clawback litigation, just like what happened with Madoff. Of course litigants will choose entities with resources to pay back. The remaining assets of his PAC - if there are any - would be subject to clawback, but the money the PAC already spent on behalf of candidates is gone and unrecoverable.

    Where this will really matter is with his charitable giving. It won't be very entertaining to watch legit charities being sued, but it's going to happen.

    Only non-witches get due process.

    • Cotton Mather, Salem Massachusetts, 1692
    1 Reply Last reply
    • J Offline
      J Offline
      jon-nyc
      wrote on 18 Nov 2022, 00:45 last edited by
      #7

      Wow. Read the thread.

      Only non-witches get due process.

      • Cotton Mather, Salem Massachusetts, 1692
      1 Reply Last reply
      • M Offline
        M Offline
        Mik
        wrote on 18 Nov 2022, 00:53 last edited by
        #8

        Jesus. What did he think he was running, a bodega?

        “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

        1 Reply Last reply
        • J Jolly
          18 Nov 2022, 00:19

          Make the Dems give the money back. 🤑

          I Offline
          I Offline
          Ivorythumper
          wrote on 18 Nov 2022, 01:00 last edited by
          #9

          @Jolly that would be our money, dude.

          J 1 Reply Last reply 18 Nov 2022, 01:16
          • I Offline
            I Offline
            Ivorythumper
            wrote on 18 Nov 2022, 01:01 last edited by
            #10

            I heard they’d approve or reject corporate matters with emojis….

            1 Reply Last reply
            • I Ivorythumper
              18 Nov 2022, 01:00

              @Jolly that would be our money, dude.

              J Offline
              J Offline
              jon-nyc
              wrote on 18 Nov 2022, 01:16 last edited by
              #11

              @Ivorythumper said in SBF/FTX:

              @Jolly that would be our money, dude.

              You had money in FTX?

              Only non-witches get due process.

              • Cotton Mather, Salem Massachusetts, 1692
              I 1 Reply Last reply 18 Nov 2022, 01:57
              • J jon-nyc
                18 Nov 2022, 01:16

                @Ivorythumper said in SBF/FTX:

                @Jolly that would be our money, dude.

                You had money in FTX?

                I Offline
                I Offline
                Ivorythumper
                wrote on 18 Nov 2022, 01:57 last edited by
                #12

                @jon-nyc no, I misinterpreted Jolly’s comment.

                J 1 Reply Last reply 18 Nov 2022, 01:59
                • I Ivorythumper
                  18 Nov 2022, 01:57

                  @jon-nyc no, I misinterpreted Jolly’s comment.

                  J Offline
                  J Offline
                  jon-nyc
                  wrote on 18 Nov 2022, 01:59 last edited by
                  #13

                  @Ivorythumper whew!

                  I didn’t take you for a crypto bro. Lol

                  Only non-witches get due process.

                  • Cotton Mather, Salem Massachusetts, 1692
                  I 1 Reply Last reply 18 Nov 2022, 02:35
                  • G Offline
                    G Offline
                    George K
                    wrote on 18 Nov 2022, 02:10 last edited by
                    #14

                    https://finance.yahoo.com/news/justin-bieber-bought-bored-ape-190922945.html

                    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                    1 Reply Last reply
                    • D Offline
                      D Offline
                      Doctor Phibes
                      wrote on 18 Nov 2022, 02:17 last edited by Doctor Phibes
                      #15

                      I still don’t understand any of this.

                      It sounds like maybe I’m not alone

                      I was only joking

                      1 Reply Last reply
                      • J jon-nyc
                        18 Nov 2022, 01:59

                        @Ivorythumper whew!

                        I didn’t take you for a crypto bro. Lol

                        I Offline
                        I Offline
                        Ivorythumper
                        wrote on 18 Nov 2022, 02:35 last edited by Ivorythumper
                        #16

                        @jon-nyc said in SBF/FTX:

                        @Ivorythumper whew!

                        I didn’t take you for a crypto bro. Lol

                        We can’t in the house due to MS’s work restrictions.

                        Good thing— I started seriously thinking about it exactly 1 year ago!

                        1 Reply Last reply
                        • J Offline
                          J Offline
                          jon-nyc
                          wrote on 18 Nov 2022, 10:31 last edited by
                          #17

                          I sent that last twitter thread to a okd Credit Suisse buddy who later worked in crypto.

                          His reply:

                          DCCE2843-52B5-4812-8394-BC4612663D7C.jpeg

                          Only non-witches get due process.

                          • Cotton Mather, Salem Massachusetts, 1692
                          1 Reply Last reply
                          • A Offline
                            A Offline
                            Axtremus
                            wrote on 18 Nov 2022, 12:08 last edited by
                            #18

                            Yeah, just recently a Sequoia guy said it has done "careful due diligence" on FTX and "there's nothing much we could have done any differently."

                            https://www.cnbc.com/2022/11/18/vc-firm-sequoia-capitals-doug-leone-on-the-fallout-from-ftx-collapse.html

                            SoftBank also invested in FTX but it’s the VC that has also lost a ton of money in WeWork, so I suppose it doesn’t quite qualify as “proper investor” as much as Sequoia.

                            1 Reply Last reply
                            • J Offline
                              J Offline
                              jon-nyc
                              wrote on 18 Nov 2022, 13:40 last edited by
                              #19

                              Another friend, who's had some dealings with SBF, told me that they paid employees and contractors into their FTX accounts, meaning they're all creditors too.

                              Only non-witches get due process.

                              • Cotton Mather, Salem Massachusetts, 1692
                              1 Reply Last reply
                              • H Offline
                                H Offline
                                Horace
                                wrote on 18 Nov 2022, 13:47 last edited by
                                #20

                                If the company had its own boutique crypto currency which was valued at the most recent transaction price, which in turn was whatever SBF wanted it to be, then I suppose the bubble pop makes sense. But that would be the pop of a bubble that wasn’t inflated with real money to begin with. My question is where did all the real money go? I mean other to Democrats, as SBF tried to climb socially through the high status political ranks of the left.

                                Education is extremely important.

                                J 1 Reply Last reply 18 Nov 2022, 13:56
                                • H Horace
                                  18 Nov 2022, 13:47

                                  If the company had its own boutique crypto currency which was valued at the most recent transaction price, which in turn was whatever SBF wanted it to be, then I suppose the bubble pop makes sense. But that would be the pop of a bubble that wasn’t inflated with real money to begin with. My question is where did all the real money go? I mean other to Democrats, as SBF tried to climb socially through the high status political ranks of the left.

                                  J Offline
                                  J Offline
                                  jon-nyc
                                  wrote on 18 Nov 2022, 13:56 last edited by
                                  #21

                                  @Horace The immediate answer is Alameda but it's still unclear what they were doing with it.

                                  Also it's unclear when the shady stuff (using customer money) started. Did they do that from the get-go? Or was it an act of desperation over the summer when crypto started to go south that they hoped would be temporary?

                                  Only non-witches get due process.

                                  • Cotton Mather, Salem Massachusetts, 1692
                                  1 Reply Last reply
                                  • G Offline
                                    G Offline
                                    George K
                                    wrote on 18 Nov 2022, 19:20 last edited by
                                    #22

                                    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                    1 Reply Last reply
                                    • J Offline
                                      J Offline
                                      Jolly
                                      wrote on 18 Nov 2022, 20:51 last edited by Jolly
                                      #23

                                      The well from which my money cometh.

                                      Remind me to check my IQ again...

                                      “Cry havoc and let slip the DOGE of war!”

                                      Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                      1 Reply Last reply
                                      • J Offline
                                        J Offline
                                        jon-nyc
                                        wrote on 18 Nov 2022, 22:23 last edited by jon-nyc
                                        #24

                                        Check your IQ again.

                                        Nobody disputes that he gives lots of money to Dems. It’s the idea that he suddenly, years into the project, decides to charge Ukraine for it that is ridiculous.

                                        Only non-witches get due process.

                                        • Cotton Mather, Salem Massachusetts, 1692
                                        1 Reply Last reply
                                        • J Offline
                                          J Offline
                                          Jolly
                                          wrote on 19 Nov 2022, 02:42 last edited by
                                          #25

                                          Sure.

                                          “Cry havoc and let slip the DOGE of war!”

                                          Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

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                                          18 Nov 2022, 02:17

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