Probably not zero. He has some money squirreled away somewhere

I made the mistake of explaining to an admin yesterday how crypto is just a way to fleece people and people who "invest" in it are stupid. She then told me about her account. Oops

Time for Peacock to make a TV movie about his rise, and fall.

But, more seriously, l wonder if this contagion fully spreads into other crypto as well, as other dupes finally pull their money out of this stupidity. And then there is a domino effect on the rest of the financial system. Well, hope not ...

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Michael Lewis Selling Movie Rights for Book on FTX's Meltdown (gizmodo.com)

"Michael Lewis, author of Moneyball and The Big Short, has been following FTX founder Sam Bankman-Fried for the past six months to write his next book. And while the potential ending of Lewis’s book has obviously changed in the past week since FTX’s $32 billion implosion, Lewis is already shopping around the movie rights, according to a new report from The Ankler."

a friend posted yesterday on the heavyweight calibre of intersecting company angels, from the FTC, MIT, Hillary's lawyer, the girlfriend's dad.

Expertise off the charts, and splat.

Probably not zero. Correct.

I found it remarkable that he was the second biggest political donor behind George Soros. With his money? Customers money?

Someone at JPM I think was trying to get Elon to work with SBF on Twitter deal and Elon said "no thanks."

In its Chapter 11 filings, FTX has suggested they have 1 MILLION+ creditors. Woof.

There's a meme floating around LinkedIn with Holmes and the FTX guy on covers of Forbes touting their successes.

On the Forbes cover wth FTX guy, there's a quote that he didn't understand crypto when he started his company. I replied on LI about Warren Buffett's "invest in what you know" strategy. But what does Warren know?

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Hughson CA
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Greed will always be good. There are some very big names in that 1MM shareholder number. If he was a bank or investment firm, he’d had a nice bailout by now.

“Hey, the guy that wrote The Big Short wants to hang out with me for months, that has to be a good sign!”

But wow, Micheal Lewis knows where to be.

Well, "Moneyball" and "The Blind Side" are stories I wouldn't mind being written about/surrounding me or something I'd done.

it sounds like there was a commune-slash-C suite in the Bahamas?

I am so excited for this movie.

Wow, that pic is good !

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Its a fascinating story that is still playing out. A movie will be made of it, and there is zero change that Jonah Hill will not be playing SBF.

Don't forget that part of this FTX saga started earlier this summer with the implosion and bankruptcy of 3Arrows Capital and the Terra LUNA stable-coin fiasco.

Sam BF and FTX targeted both 3AC and Terra in an apparent vendetta and directly caused their demise which resulted in Billions of losses on its own, impacting thousands of people, all because of SBF.


.

Kinda extreme to blame SBF for the fall of 3 arrows and Terra. They were going to implode at some point. That would be like blaming binance for what is happening to SBF. It is not binance’s fault SBF was running a scheme that would eventually collapse.

It was probably best for Luna and terra to collapse earlier than later.

3AC held a lot of their funds on the FTX exchange and supposedly was stop hunted by FTX to trigger the liquidation. I forget the specifics but it was done through using Terra which also caused Terra to explode.

Just what I've heard and read as to what what happened behind the scenes. I don't think any of that was necessarily illegal? but the FTX exchange targeted one of their largest customers to liquidate them, not to forget the relationship of SBF, FTX and Alameda Research who were competitors to 3AC.

With SBF, FTX and Alameda Research unravelling, it puts it all in a different light what happened earlier with 3AC and Terra.

I for sure have seen tweets by Kyle Davies (co-founder of 3AC) recently which directly said what i'm describing...that SBF and FTX targeted 3ACs positions on the exchange and had a run through them through engineered means and caused their liquidation.

.

I'm curious to learn more about the post-bankruptcy account draining. With some of those funds already being traced to laundering on other crypto exchanges.

Could be a hacker.

But if it's an inside job, would love to learn how far up knowledge of it reached.

Great thread

https://twitter.com/.../1592502805171822592

He didn't do the best at linking the thread but it's all easy to find. Really just epic failures at so many levels.

A) Going to jail

B) Didn't realize he was so connected to the Democratic establishment

He is bigly connected. His parents also. It's a wild story.

I see an American Greed episode in their future.

This is SBF, who is in control of a company valued at $30+ billion.

https://twitter.com/...ylPTg3J467CzZqYmUOwQ

The writers are doing a great job of tying these two plot lines together.

Sam Bankman-Fried donated gave about $41 million to candidates, political committees, and his Super PAC (mostly benefiting Dems).

Ryan Salame, another FTX executive, gave about $24 million to candidates, political committees, and his Super PAC (mostly benefiting the GOP).

I think you will find they were making sure they had a finger in both parties.

That and Twitter is definitely not the best format for this complex of a story.

There is an awful lot of this that can really only be explained as intentional fraud.

Hard to see how he thought this was going to hold up for very long.

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I'm beginning to think that we are much more fucked than I thought.