|
If I read this table right, they stole or lost >90% of customers assets, and an impressive 99.9% of the bitcoin
|
#
?
Mar 3, 2023 20:29
|
|
|
|
| # ? May 30, 2024 03:23 |
|
|
Aw thats nice they put one of their own bitcoins in the jar so that it wouldn't look empty
|
|
#
?
Mar 3, 2023 20:31
|
|
|
The funniest thing about that chart is that they're lumping cash and stablecoin together. Somehow I think that when it comes time to pay creditors there will be a very important distinction between things held in USD and Tether.
|
|
#
?
Mar 3, 2023 20:31
|
|
|
|
|
#
?
Mar 3, 2023 20:31
|
|
|
That's impressive. Usually scammers just skim but holy poo poo.
|
|
#
?
Mar 3, 2023 20:33
|
|
|
ftx.us was indeed insolvent, what a shock that SBF was lying about that!
|
|
#
?
Mar 3, 2023 20:48
|
|
|
I'm sure SBF is about to publish a perfectly reasonable explanation on substack that will clear this whole thing up. 
|
|
#
?
Mar 3, 2023 20:49
|
|
|
It's okay, they put in a bunch of FTX Bucks into the pot so that makes it solvent touches earpiece hang on I'm getting an update
|
|
#
?
Mar 3, 2023 20:50
|
|
|
The funds are still there, they're just other-than-temporarily displaced. Let me make a T-square real quick titled "OTT Displ." with 1,590 bitcoins and whatever else is allegedly "missing" in the assets column. Problem solved, right?
Hello Sailor fucked around with this message at 20:56 on Mar 3, 2023 |
|
#
?
Mar 3, 2023 20:51
|
|
|
quote != edit
|
|
#
?
Mar 3, 2023 20:55
|
|
|
which was the exchange that decided to mix together peoples actual money and their stable coin's balances? was it coin base?
|
|
#
?
Mar 3, 2023 20:57
|
|
|
Boxturret posted:which was the exchange that decided to mix together peoples actual money and their stable coin's balances? was it coin base? It's probably all of them
|
|
#
?
Mar 3, 2023 20:58
|
|
|
jokes posted:It's probably all of them I mean publicly lol
|
|
#
?
Mar 3, 2023 21:02
|
|
|
The Lone Badger posted:Don't banks tend to have underwriting arrangements with other banks to avoid bank-run-triggered collapses? Would that cover investment losses though. If your bank holds a bunch of mortgages in good standing that everyone expects will be paid back, but you're out of cash because too many people tried to withdraw their money at once, that's a liquidity crisis but not an insolvency problem as long as assets > liabilities, so other banks can expect to get paid back if they lend you enough to cover your withdrawals. If you gambled all your depositors' funds away at the craps tables and you don't have enough assets to cover your liabilities I don't think other banks will give you money then, it'll just flow right out to cover withdrawals and you'll never be able to pay the other banks back.
|
|
#
?
Mar 4, 2023 00:35
|
|
|
RIP crimenet
|
|
#
?
Mar 4, 2023 00:38
|
|
|
"risk-based decision" is a tautology. all decisions are risk-based.
|
|
#
?
Mar 4, 2023 00:46
|
|
|
my risk is based af
|
|
#
?
Mar 4, 2023 01:22
|
|
|
I’m still chuckling at “less than well-capitalized”.
|
|
#
?
Mar 4, 2023 01:24
|
|
|
Dr. Fraiser Chain posted:Situation Normal, Funds All Safe Situation Normal, I Found Funds All Safe Sir
|
|
#
?
Mar 4, 2023 01:26
|
|
|
drk posted:If I read this table right, they stole or lost >90% of customers assets, and an impressive 99.9% of the bitcoin I guess you haven't realized that 1591 BTC = 1 BTC. Nothing wrong here.
|
|
#
?
Mar 4, 2023 02:02
|
|
|
Trillhouse posted:"risk-based decision" is a tautology. all decisions are risk-based. Paper or plastic or death?
|
|
#
?
Mar 4, 2023 02:16
|
|
|
drk posted:RIP crimenet so does this mean no withdrawals, only deposits?
|
|
#
?
Mar 4, 2023 02:16
|
|
|
https://twitter.com/lebed2045/status/1631474168922517505
|
|
#
?
Mar 4, 2023 02:23
|
|
|
Juul-Whip posted:so does this mean no withdrawals, only deposits? its not clear there is much left to withdraw, they appear to be less than well capitalized and may have hours or days before they become an ex-bank
|
|
#
?
Mar 4, 2023 02:26
|
|
|
Aren’t they the bank that Facebook wanted to facilitate the cash flows for diem/libra lol
|
|
#
?
Mar 4, 2023 02:34
|
|
|
Juul-Whip posted:Aren’t they the bank that Facebook wanted to facilitate the cash flows for diem/libra lol lol, silvergate bought diem like a year ago https://twitter.com/DiemAssociation/status/1488270981718495233 bitcoin and the rest of crypto crashed a couple months later and that was only the start of their problems
|
|
#
?
Mar 4, 2023 02:50
|
|
|
amazing that crypto managed to complete gently caress a boring entity that held msbs and treasuries and poo poo. it's got the kind of midas touch were everything just turns to poo pooOffler posted:The fact that not everyone involved in crypto has realized that "your money is definitely safe with us" translates to "any money stored with us will be gone in less than a week" by now is amazing. what's the old saying about a man who has to explain why his credit is good is already ruined? something to that effect
|
|
#
?
Mar 4, 2023 03:10
|
|
|
did zuck memory hole all cuttcoin stuff for his lovely meta matrix? Also is the zucktrix going to use real money?
|
|
#
?
Mar 4, 2023 03:20
|
|
|
Cyrano4747 posted:The funniest thing about that chart is that they're lumping cash and stablecoin together. https://www.youtube.com/watch?v=2oIKaP3Hzes
|
|
#
?
Mar 4, 2023 03:45
|
|
|
Well I didn't expect this one, specifically on age. https://abc7chicago.com/lisle-il-sp-solutions-bitcoin-of-america-cryptocurrency/12904235/ article posted:A Secret Service raid led to the arrest of William Suriano, 69, of Riverside, and Reza Mehraban, 75, of Naperville, along with his son, who was arrested in Miami. Apparently they ran scam bitcoin ATM's.
|
|
#
?
Mar 4, 2023 04:36
|
|
|
Best news for Bitcoin yet. If the secret service is investigating scam Bitcoin ATMs that means they think it's real money!
|
|
#
?
Mar 4, 2023 06:18
|
|
|
drk posted:If I read this table right, they stole or lost >90% of customers assets, and an impressive 99.9% of the bitcoin Kinda out of the loop. What is stablecoin? Is that the US Dollar?
|
|
#
?
Mar 4, 2023 06:26
|
|
|
As I understand it, a "stablecoin" is a digital IOU that they claim is worth a specific amount of United States dollars, which they totally have, really they pinky promise swear, no you may not see the actual dollars these IOUs can be traded for.
|
|
#
?
Mar 4, 2023 06:32
|
|
|
MechaCrash posted:As I understand it, a "stablecoin" is a digital IOU that they claim is worth a specific amount of United States dollars, which they totally have, really they pinky promise swear, no you may not see the actual dollars these IOUs can be traded for. Also you can trade stable coins for other coins but the people who make the stable coin have alot of restrictions on how you can convert them back
|
|
#
?
Mar 4, 2023 06:39
|
|
|
Mumpy Puffinz posted:Kinda out of the loop. What is stablecoin? Is that the US Dollar? Its what happens when a casino realizes the more chips it makes, the more money it has!
|
|
#
?
Mar 4, 2023 06:39
|
|
|
also there's more stablecoinz than multiple M3s.
|
|
#
?
Mar 4, 2023 06:40
|
|
|
bitcoins are like casino chips you can use at any casino
|
|
#
?
Mar 4, 2023 06:42
|
|
|
Hirez posted:bitcoins are like casino chips you can use at any casino Or at no casino.
|
|
#
?
Mar 4, 2023 06:44
|
|
|
dont real life casino retire chips so they dont get dudes pocketing chips of years and trying to cash them out?
|
|
#
?
Mar 4, 2023 06:45
|
|
|
|
| # ? May 30, 2024 03:23 |
|
|
notwithoutmyanus posted:Well I didn't expect this one, specifically on age. That is kind of weird. Crypto is one of the few scams that actually works worse on the elderly because they see it as exchanging real money for fake money. Which it is.
|
|
#
?
Mar 4, 2023 07:36
|
|
