From: zerohedge FTX Hit By Mysterious $662 Million Outflow Amid Revelation That SBF Implemented Bookkeeping “Backdoor” | ZeroHedge Summary: Sam Bankman-Fried’s now bankrupted crypto exchange FTX plunged into further chaos late Friday night and Saturday morning after the company detected unauthorized transactions.  Bloomberg said the exchange was “hit by a mysterious outflow of about $662 […]

From: zerohedge Sam Bankman-Fried Bought Into Stakeholder Capitalism And Proved It’s A Disastrous Ideology | ZeroHedge While many analysts and economists will be talking for months about the epic downfall of crypto-exchange company FTX and its founder Sam Bankman-Fried, their focus will be primarily on the billions lost, the mismanagement of funds, the fraud inherent […]

From: zerohedge FTX Founder Spent $40 Million As Democrat Midterm Megadonor | ZeroHedge Leading up to Sam Bankman-Fried’s spectacular implosion – in which his firm FTX evaporated billions in wealth after the now-bankrupt cryptocurrency exchange allegedly commingled client assets with his trading firm into a liquidity crunch – he became the sixth-largest donor in this […]

From: zerohedge FTX Held Just $900MM In Liquid Assets Vs $9BN In Liabilities As Video Emerges Confirming Alameda Knew It Was Pilfering Client Funds | ZeroHedge On Friday, we first learned courtesy of a mystery twitter account belonging to an anonymous FTX insider, that the now bankrupt crypto exchange held just $900 million in liquid […]

From: zerohedge FTX Files For Bankruptcy, Sam Bankman-Fried Resigns As CEO | ZeroHedge As widely expected, FTX – which was clearly insolvent after the biggest fraud in crypto history – has filed for bankruptcy, and its soon-to-be incarcerated boss Sam Bankman-Fried, f/k/a “the JPMorgan of his generation”, has resigned as CEO. Here is a press […]

From: zerohedge Commodities Soar After China Eases Quarantine Rules | ZeroHedge Commodities from Iron to crude to copper to soybeans soared after China made a significant change to the zero Covid policy that has caused nothing but trouble in the world’s second-biggest economy.  Almost all commodities, whether agriculture, energy, or metals, traded higher following the […]

From: zerohedge Bankman-Fried ‘Lent’ Billions In Customer Funds To His Trading Firm, Setting The Stage For Implosion | ZeroHedge Alameda Research – Sam Bankman-Fried’s (SBF) FTX-affiliated crypto hedge fund – “owed” FTX $10 billion after the exchange “lent” billions of dollars of sacrosanct customer assets to fund risky bets, just as we suspected… only even […]

From: zerohedge SBF Issues Mea Culpa: “I’m Sorry… I F**ked Up” As Alameda Research Winds Down Trading | ZeroHedge In his first words since the (alleged) ponzi fraud of FTX was exposed yesterday, Sam Bankman-Fried, CEO and founder of FTX, has issued a lengthy tweet-thread to try to explain himself. He begins: 1) I’m sorry. […]

From: zerohedge World’s Top Chipmaker To Build Another US Plant In Arizona | ZeroHedge Currently, US semiconductors are a measly 10% of global production. Most chips are produced in Asia, particularly South Korea and Taiwan, and the Biden administration has pushed the Chips and Science Act to boost development and production domestically.  The CHIPS Act […]

From: zerohedge “Beyond Our Ability To Help” – Binance Abandons FTX Deal; SBF Admits $8 Billion Shortfall, Bankruptcy Likely | ZeroHedge The Wall Street Journal reports that Sam Bankman-Fried told investors today that FTX has a shortfall of $8 billion, was seeking emergency liquidity, and that without more capital, bankruptcy is likely. Some have suggested […]