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if this was a mature industry that actually mattered to the populace at large, this deal would get blocked by antitrust and competition authorities lightning fast instead, it's just economy of scale and synergy in fleecing nerds edit because this is a lovely snipe: could you imagine this the other way around? cz having the grace of saying 'no, it's all good, we were still friends' after having sbf unchain a bank run and trashing his company so they could buy it at a bargain? i don't think so EricBauman fucked around with this message at 17:20 on Nov 8, 2022 |
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Nov 8, 2022 17:17
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One step closer to complete decentralisation.
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Nov 8, 2022 17:19
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Otoh having the entire industry's eggs in 1 basket exchange has a higher likelihood of big future comedy
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Nov 8, 2022 17:20
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https://twitter.com/cz_binance/status/1590013615897477121 loooooooooool binance signed a "non-binding letter of intent" which is exactly as binding as you would think from the name, is publicly trumpeting that fact, after forcing FTX to admit it is illiquid/insolvent this transaction is never happening FTX gonna collapse
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Nov 8, 2022 17:21
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infernal machines posted:what possible due diligence could you do that would result in the sale going through? The sticks that are propping up the corpse of the crypto industry are rapidly disintegrating, but they’ll hold longer if bundled together. It’s obvious from the outside, I can only imagine how glaring it must be to the few people who access to the actual numbers behind these “exchanges.”
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Nov 8, 2022 17:23
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i must say i really approve of binance very visibly shoving FTX off a cliff and then offering to buy them all for, presumably, peanuts and then shoving them off a cliff again with the obvious intent to take back most, if not all, of the peanuts
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Nov 8, 2022 17:23
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infernal machines posted:what possible due diligence could you do that would result in the sale going through? due diligence? what the hell is that?
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Nov 8, 2022 17:24
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Unless they put the LOI on blockchain, it doesn't count.
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Nov 8, 2022 17:25
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binance is clearly doing this because ftx was moving more toward the 'actually, just regulate us so we won't go to prison in four years' point of view, and that simply wasn't acceptable to binance
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Nov 8, 2022 17:25
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non-binding LOL
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Nov 8, 2022 17:26
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i guess they don't call it a "letter of maybe"
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Nov 8, 2022 17:27
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IOU 1 butt
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Nov 8, 2022 17:27
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Deep Dish Fuckfest posted:due diligence? what the hell is that? i think its what #include means
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Nov 8, 2022 17:28
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well ok but what does #include mean?
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Nov 8, 2022 17:29
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https://twitter.com/alexhern/status/1590018392563814401
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Nov 8, 2022 17:30
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you gotta make a statement of intent 
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Nov 8, 2022 17:32
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everything is fine, funds are safe, and that's why we're selling ourselves to our largest competitor
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Nov 8, 2022 17:34
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they've even halted withdrawal to make sure the funds can't go anywhere and are extra safe
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Nov 8, 2022 17:35
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Boxturret posted:non-binding LOL the intent is not binding but the lols are binding
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Nov 8, 2022 17:39
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evilweasel posted:https://twitter.com/cz_binance/status/1590013615897477121 idk, i would be unsurprised if the only reason why binance gets into this is because they think the uncontrolled failure of ftx would bring them down. the "non-binding" mostly theatre to not make that fact too obvious.
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Nov 8, 2022 17:40
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Cybernetic Vermin posted:idk, i would be unsurprised if the only reason why binance gets into this is because they think the uncontrolled failure of ftx would bring them down. the "non-binding" mostly theatre to not make that fact too obvious. binance spent the past few days loudly announcing ftx was insolvent triggering this bank run
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Nov 8, 2022 17:44
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the dudes name was literally “bank man”, the fact that all these crypto people did not see that as a way too on-the-nose red flag is just more evidence that satire is dead to them https://twitter.com/philiproulx/status/1590019569124524032
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Nov 8, 2022 17:55
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sam bankman, the worst death stranding character
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Nov 8, 2022 17:58
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too subtle for that
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Nov 8, 2022 18:03
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letter of intent(-ish)
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Nov 8, 2022 18:03
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Deep Dish Fuckfest posted:due diligence? what the hell is that?
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Nov 8, 2022 18:36
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what happens to the ftx arena? are you even allowed to say bi in florida?
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Nov 8, 2022 18:40
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Paladinus posted:I want Bitcoin to be dead.
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Nov 8, 2022 18:42
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waving my dd
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Nov 8, 2022 18:48
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Not just Bankman, Bankman-Fried.
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Nov 8, 2022 18:50
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so hang on. im confused - is bitcoin pikachu or mewtwo
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Nov 8, 2022 18:51
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Hammerite posted:so hang on. im confused - is bitcoin pikachu or mewtwo It's Garbodor.
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Nov 8, 2022 18:55
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I'm imagining four crypto currency exchanges on the edge of a cliff
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Nov 8, 2022 18:55
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Yes, it's like a lava lamp.
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i'll say this for the crypto as pokemon thing: at least it's not loving harry potter
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Nov 8, 2022 19:12
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evilweasel posted:https://twitter.com/cz_binance/status/1590013615897477121 lol F1 is gonna look like goddamn starfox on the SNES at this rate, for the folks who don't remember, that means "just huge blank polygons everywhere instead of sponsors"
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Nov 8, 2022 19:40
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FAUXTON posted:lol its ok there's only one race left of the season, since supporters of brazil's covid-incarnate ex-president are apparently trying to get brazil called off by blockading interlagos
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Nov 8, 2022 20:14
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well, which letter was it? P?
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Nov 8, 2022 20:15
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Oops! Someone at Coinbase fell over the router cable. https://twitter.com/PriapusIQ/status/1590052567111041026
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Nov 8, 2022 20:17
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wow what a coincidence, this has never happened before though so I'm sure it won't be a problem
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Nov 8, 2022 20:22
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gschmidl posted:Oops! Someone at Coinbase fell over the router cable. crypto is so cool
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