/biz/ - Business & Finance

>>52877584
yeah he's right but it doesn't really matter, binance went for the kill but FTX is at fault for being weak enough to allow such an easy kill

No, Shkreli is

https://www.youtube.com/watch?v=VMvM1P0ODz8

But you're too NPC to listen to honest autists

>aaah a kike made me lose millions but I can't outright say that it was a kike fuck that did it or I'll get cancelled, better blame the guy that didn't gamble my millions away for he problems that the kike fuck that gambled my money away created

i dont know if cz did what he says or not, obviously that guy is a faggot
that said, there is nothing wrong with aggressive trade practices

>>52877607

I can assure you, sir, that I am an autist.

I'll watch this.

>>52877607
I don't want "the big boys" to believe in crypto.

>>52877584
Lmao, these kikes really can't take the L, such sour losers.
Everyone would have done the same in CZ's place, kikes definitely.

>>52877584
>I’m a victim, CZ is a bully, give me money back daddy (us government)
What a beta faggot

>>52877584

Name one person above 40 who isn't a complete retard when it comes to crypto investing.

>>52877584
>he actually wants CZ to pay $3 bil
the balls on this guy

>>52877584
How many tapes are there of this cryptosemite fornicating children

He got $15 million from FTX what do you think

>>52877584
I was always a little suspicious of Kevin, he came across as the villain of the show in Shark Tank

>>52877584
>is Kevin O Leary right about CZ/FTX situation?
Nope. Kind of interesting that that fact is clear as day to the denizens of an anime-themed friend-simulator whilst it apparently eludes those conducting a pantomime in front of elected officials.

>>52877822

>>52877607
he's living the meme.

>>52877777
Checked and truthpilled

>>52877584
>Terms and conditions literally say that the coins belong to the deposit holders
>Sbf uses customer deposits to gamble on shit coins
So what if CZ played dirty, it's doesn't make sbf any less of a fraud

>>52877777

he just described what happened very thoroughly.

>>52877916
how could CZ delete FTXs records?

>>52877584
He isn't used to the fact that unlike banks who support each other in general, crypto is all about fucking each other. So even if it was true, FTX is shit. If not true, still shit. To be honest, I didn't even read or listen to what he said.

>>52877584
so.

Sam bought CZ's shares of FTX for 32 billion in crypto assets.

Then CZ asked for $500 million in FTX tokens, but he wanted it in FIAT/cash.

That tanked FTX's "value" but Sam had basically zero assets because he bought back CZ's shares, and these "shares" were FTX tokens.

>>52877929
he didnt, he just wouldn't comply with regulators.

he owned a very large wallet of FTX tokens back then.

TLDR - CZ had a ton of FTX tokens, around 20% of the total supply. Sam wanted to comply with regulators, CZ refused. Sam bought back FTX tokens for 32 billion worth of other crypto tokens.

Then CZ tweets and asks for $500 million in FTX tokens but converted into FIAT. This causes a FTX bank run.

this tanks FTX's value from $20 to $1. FTX is kill.

that just says "crypto" has fractional liquidity.

CZ pulled the carpet from under Sam but there's no liquidity in crypto to begin with.

>>52877956
>he didnt, he just wouldn't comply with regulators.
no, it was specifically alleged hes been deleting records through the backend

>>52877777
waste of quints
ought to be ashamed

>>52877978
thats not what he said

>>52877947
Sam was at fault for entering into those deals.

Kevin portrays it as if SBF were given no choice but to buy CZ out at those prices.
Kevin obviously has an agenda.

FTX was already huge. It only needed to keep on playing the same game and not attempt to buy CZ out until an opportune moment.

SBF over-extended and used customer deposits, and allowed his biggest competitor to invest heavily into the business. All very smooth brained.

The real question is, what is Kevin's agenda? He wants his money back. SBF doesn't have it. Best target Binance as they've got money.

>>52877998
no he doesnt. Kevin gave the facts where are you getting this from?

CZ is that you? relax

>>52877916
>>52877947
>>52877956
FTX promised customers that their deposits would be stored.

Instead they were traded and subsequently lost.

Which is fraud and theft.

SBF buying back CZ's FTX tokens is what fucked him, NOT the bank run.

If Sam still had the assets, he could have easily paid the 500 mil and FTX wouldnt have tanked.

TLDR - Sam's position got liquidated

>>52877995
I seriously question your understanding of the situation

>>52877584
>SBF sold his balls to CZ who is his direct competitor for 20%
>Kevin didn't know he was rooting for a man with no balls
>SBF tried to bluff CZ
>CZ called his bluff
>GG thanks for playing

>>52877998
Mr. Boat Murder wants clawback for his FTX equity from Binance & CZ

Also he just invested in "regulated exchange" in Canada and wants his competitors out.

FTX was "regulated" too

>>52878009
Yes I guess so. Customers had non FTX deposits, and Sam traded basically everything to get the FTX tokens back from CZ.

>>52878013
>SBF buying back CZ's FTX tokens is what fucked him
this story isn't making sense, if FTX bought back their tokens, who market sold all their tokens?

>>52877584
SBF according to Kevin O'Leary:
>CZ made me steal and piss away customer funds, he's the real villain!
The audacity of the scumbag...

>>52877637
You're alright

>>52877661
Why?

>>52877990
Fuck off Sam

>>52878002
Kevin advises on CZ's controlling stake.

Kevin advises SBF sought to buy him out as CZ wouldn't allow licensing approval.

Kevin's focus is on the actions Binance took and not SBFs mismanagement.

Take a read of the comments regarding
controls and safegaueding assets at FTX from John Jay Ray since taking the helm.

>>52877883
This is some pretty based art who made it?

>>52878016
likewise for you.
>>52878022

i guess CZ must have recieved most of the 32 billion crypto assets from Sam, then asked Sam for $500 million in cash for the FTX tokens as the last payment.

Sam didnt have that so it liquidated FTX

>>52878048
are you trying to make Sam look bad intentionally?

he said there are risks involved , no ?

>>52878021
>Customers had non FTX deposits, and Sam traded basically everything to get the FTX tokens back from CZ.
This doesn't make logical sense. The only reason that the FTT tokens were a systemic risk was that the customer deposits had *already* been traded away. Probably right from the start.

TLDR.

Sam cant get FTX regulated because CZ owns 20% of the FTX supply and wont comply with regulators.

Sam offers to buy CZ out of all his FTX tokens basically at market value. CZ agrees. This is a 32 billion dollar value trade. Sam trades all of FTX's cash and other cryptocurrency for CZ's entire FTX stack (20% of the total FTX supply).

They trade. It takes a while, its a huge transfer of assets.

Then once almost all of the trade is finished, CZ asks for $500 million CASH specifically for his last 25 million FTX tokens (then valued at $20 per).

Sam doesn't have that. This liquidates FTX.

>>52877584
I like Kevin he has good ideas for business's but crypto is not a business and is pretty far removed from the traditional finanical sector. He claims to love bitcoin but has been calling for regulation for years. When Satoshi nakamoto walked away from bitcoin, he probably didn't do it so some bald white guy would take his place. He didn't walk away because he wanted the US or a foreign government to takeover cryptocurrency either. This is a bitcoin maxi take but I am not even referring to bitcoin specifically: you are either pro cryptocurrency or pro regulation. There's no middle ground here. You are either content to live in monopoly money land, or banking on the fact that fiat dies and is superceded by cryptocurrency.

The sad part is Kevin might have been on the boat that was banking on cryptocurrency but captain Sam steered into an iceberg. Kevin was hedging his bets, calling for regulation but knew deep down regulation was very far away if not downright inpossible for cryptocurrency. SBF causing him to lose whatever capital was on the CEC...that is going to push him to the side of regulation for sure

>>52878048
CZ already knew his tokens were backed by air. This one tweet basically triggered the collapse.

>>52878067
are you 10 years old? im explaining what happened. but yes, according to Kevin, Sam buying CZ's FTX tokens

"wiped the balance sheet of assets" for FTX

You guys know O’Leary did not lose a single dime in FTX right ? He was paid $15million to shill and ten million of that was in ftt. 5 million he kept. He’s literally lying to try and prevent clawback / litigation against himself

>>52878095
you clearly have no idea how exchanges operate

lol why did Sam go ALL IN on his own tokens lol lol

>>52878108
you clearly just make puffed accusations to pretend you know whats going on while i do my best to break it down for everybody in simplest terms.

>>52878086
Yes. What forced SBF go through with such a calamitous deal?! Could have stuck to the same business model?

>>52878113
its like you've been paid to make Sam look bad

tldr: Sam buying back FTT from CZ wiped all other tokens from FTX's wallet.

So Sam had traded equal value, he just went all in on FTT, his own token.

then, CZ liquidated like 25 million FTT tokens he had remaining. this caused FTT to plummet from $20 to $1. and since FTX's entire portfolio was FTT, FTX crashed too.

>>52878120
He needed seed fundos

>>52878095
>im explaining what happened
You are not. You are making things up. Case in point: FTX didn't actually buy back CZ's FTT tokens.

>>52878127
shut up nobody paid me. why did Sam all in on his own tokens kek

>>52878033
>Why?
Because he's an idiot.
That or looking to spread fudd.

>>52878141
ok. then what were CZ's "shares" if not FTT ?

alright then.

CZ had around 65,800,000 FTT. Sam buys it back with all of "his" non-FTT assets - aka other crypto.

CZ sells his last 25 million FTT for cash. this liquidates FTX who went all in on FTT

>>52878153
CZ's shares in FTX were exchanged for FTT tokens that FTX printed out of thin air.

>>52878204
no. you made that up

>>52877777

>>52878182
No. The reason to exchange customer deposits for an illiquid token that they controlled was in order to steal the customer deposits. They weren't under any pressure to do that unless they had already stolen customer deposits.

>>52878212
>https://twitter.com/cz_binance/status/1589283421704290306
(you)

>>52878231
>customer deposits
buddy. as soon as you hit "buy" on any shit-doh crypto, that deposit is GONE.

you spend 5 million for 5 bitcoin.

bitcoin tanks to $1 in a minute. you still have 5 bitcoin. YOU LOST YOUR CASH AS SOON AS YOU EXCHANGED IT FOR SHIT DOH CRYPTO

>>52878245
Ok. So he recieved FTT too, along with every other crypto as part of his exit from FTX.

then he liquidated that FTT, and FTX plummeted like a rock.

actually your version makes sam look much worse kek

>>52878258
^and there it is. Thank you for confirming that you are a salty nocoiner. Kindly remain poor.

>>52878275
>nocoiner
>poor
KEK. BUDDY WELCOME TO YEAREND 2022 CRYPTO IS WORTHLESS

>>52877584
lmao
So a guy that gets scammed by a fat fucking retard looking jew, when every retard incel on this board knew it was a scam, is now listened to by congress?
Or course it's no surprise, but the script keeps getting less plausible.

>>52877607
I like how he's wrong as he lacks technology and cryptographic knowledge but still correct since the people he talks about have the same lack of knowledge.

>>52878009
>I guess
lmao how much did you lose?
What cope is this?

>>52878656
>>52878021
Meant to you. Guess away genius.

stop paying attention to this piece of shit he whores himself on cameo for scammers to use videos of him endorsing their dogshit product. hes a prostitute who peaked at a mediocre tv show.

>>52877584
Its in every companies interest to kill the competition which they actively do. This is why we don't have "mom and pop" shops anymore and why we overpay for internet

>>52878603
Wdym?

>>52877584
This guy is one hell of an actor.
too bad its all a Psyop to implement "The Standard"

https://patents.google.com/patent/US5025369A/en

>>52878802
He's a retard moonboi that thinks crypto is money.
It's the poster above that doesn't understand.
He has drank koolaid and doesn't realize that almost all of this is just a better excel spreadsheet.
Valuable of course. But you don't need 5,000 versions.

>>52878756
wait they used to have shops where you could buy a dad?

>>52878009
Nah, it's called normal business. CZ is trying to kill crypto, SBF was saving every VC. We needed them to pump.

>>52878127
Kek you sound like Sam's got his jew dick deep inside you right now, I'm surprised you can even post

>>52877584
Didn't CZ say the deal of him buying a bunch of FTX shares never actually went through? It feels like this boomer and SBF are just trying to drag Binance down with them, place all the blame on CZ for the FTX crash and divert attention to the unregulated status of Binance.

>>52877607
>one kike exchange goes down
>holy shieeet crypto is over

>>52877697
the crypto billionaires

>>52878094
cz knew they ftx was insolvent, they just went to the door first on insider info

Don't use any CEX, not you keys...

But a an exchange should survive 100% withdraw. It should be backed 1:1.

And I watched the senate thing and the whole thing was false information and lies. I don't use or care about binance. But to say they are linked to the CCP is fucking retarded because CZ's family was forced out of the CCP, they are dissidents, they fucking hate the CCP.

But again, not your keys, not your crypto. Use defi, there is zero reason to use a CEX other than to on ramp fiat (limitation of fiat is that it requires centralized intermediaries)

>>52877584
he's a lying jew kike paid to lie for other lying jew kikes. LOL IMAGINE TRUSTING A HOOKNOSE LYING JEW KIKE EVEN ONCE AND NOT JUST IMMEDIATELY RESORTING TO VIOLENCE?!

>>52877607
The implications of this seem a lot worse for bagholders than it does for new participants at the retail level.
Key talking points he mentions
>The big boys aren't interested for another 10-20 years and they are needed to take the mcap from $800B to whatever
>All the whales are either fully invested, have no capital left, or will be absorbed by the sellers (mostly miners according to Shkreli and there will be more carnage to come
>Ultimately crypto survives and comes back stronger
My takeaway from this is that either anyone who still has cash left or can get access to it for relatively cheap, will be able to buy at disgusting price levels. Or public opinion at the retail level hasn't changed, just institutional, and everyone can see that BTC/crypto is an asymmetric bet and if price gets to a disgusting price level it would be the opportunity of a lifetime. Because everyone is thinking the same thing it won't actually happen and BTC will just crab around for a year unless for some reason there is a mass capitulation event.
Nothing in his video has changed my strategy since before I watched it. I mostly agree with him but as someone who is not bagholding it really doesn't matter all that much to me what BTC does or doesn't do in the short term.

>>52879141
>A jew and a wannabe jew are shifting blame and crying out in pain as they strike you
Color me shocked

>>52878898
Still cnfused

>>52877584

>>52879673
This is what I've been saying. It's wild that people, especially here, who are so distrustful of the media are willing to accept that he's actually in some Bahamian prison cell or at least a shitty 3rd world tier one.

>>52879526
what does any of this have to do with ftx?
its just one shitty exchange run by retards

>>52877607
nah he wrong. all of the "fraud" will be forgotten in a year

>>52879916
Go watch the Shkreli video that I replied to

>>52877584
did cz fuck sbf?
yes
could cz have fucked sbf if sbf was a law abiding individual not fucking his own customers?
no

kevin seems to blame cz, when all cz did was put a stop to sbfs crimes

would you blame a police officer for putting you in jail after you rob a bank?

cz is justice and funds are safu

>>52880261
>cz is justice and funds are safu
Lots of innocent people got fucked and lost money, SBF is ultimately to blame but CZs action were malicious and done for personal enrichment, he's not justice and this will probably end in real regulation.

>>52877620
this lol
cz looks increasingly like he's always been /ourguy/ whereas sam's always been a regulation-pushing fat toddler middle schooler kike shoe

>>52880334
those people would have lost their money anyways. and even more people would have lost their money if ftx was enabled to continue. the reckless degenerate practices of ftx, the absolutely sloppy way they conducted business, their meth addicted leadership, was a house of cards doomed to collapse. the sooner it collapsed, the less innocents dragged into it. the bottom of the bear market was the best time to pull the plug on ftx, they could not be allowed to survive into another bull market that would drag in A LOT of innocents.

>>52877822
The reason you use big words people don't normally use and have to look up is the same reason why we see it.
Autism.

>>52878086
>CZ asks for $500 million CASH specifically for his last 25 million FTX tokens
This is the part I don't understand. If the trade was already set and in motion, how can CZ ask to pay last bit in fiat instead of tokens? Also what would have happened in SBF said no and paid in tokens?
>t. nocoins

>>52877607
This guy is peak dunning-kruger. He has a surface level understanding of everything he talks about but speaks as if he’s an expert because he’s such a narcissist in love with the sound of his own voice. He’s basically reciting information he heard from boomers on cnbc but with a kind of retarded self confidence that tricks low iq retards like yourself into believing he’s smart.

>>52877607
martin skreli is a bag of shit. and you are too for sharing his videos on /biz/

post your portfolio right now douchebag

>>52877620
>aaah a kike made me lose millions but I can't outright say that it was a kike fuck that did it or I'll get cancelled,
OLeary is a Kike too you dumbass. They always cover for eachother.

>>52877822
It doesn't elude them, they're all in on it. Sam was a plant to get crypto regulated. I'm sure CZ knew this as well from the beginning of it all and was just waiting for the right time to strike which he eventually did. That's what I'm hoping anyway because that would mean that CZ minimized the amount of damage that was done and perhaps the regulations won't be as bad as they were planning. Crypto will get regulated regardless as time goes on the point is to minimize the amount of bad actors in the time being as that could lead to over regulation. Or something, idk

>>52880192
i did, its a non sequitur

>>52880780
Question: how is his core argument, i.e "Blockchain and distributed ledgers don't necessarily have to be currency and might not make their biggest impact on the world in their current use case" incorrect?

>>52880811
He's Irish

>>52882388
>(((irish)))

same thing, tater famine 2.0 when

>>52877990
How is that a waste of quints
Does the truth scare you?

>>52880334

I doubt CZ actually knew that dumping FTT would cause the whole exchange to collapse

>>52877595
>yeah he's right but it doesn't really matter, binance went for the kill but FTX is at fault for being weak enough to allow such an easy kill

its a narrative. oleary is acting like cz did something any business wouldn't do, including his businesses, so he is a fucking liar, at least on that point.
also, ftx WAS easy to kill, that is 100% there fault. If they did an actual organic growth path and weren't leveraged out the ass on absolutely everything, and took 5-10 years to build an actual stable business, ftx would still be here.

>>52877584
That everything touching FTX was planned to whitewash stupid money into political tools and everything building up so far that has happened in the FTX sphere can easily be explained by systematic and pathologically criminal behaviour by the people on top of the fiat, stock and banking system.

Based chink might acually have saved crypto speculation altogether by popping their bubble prematurely, while Fiat is scripted to die off Weimar style into nothing short of a turtle style, systemic economic collapse and decade long state-enforced war on the public to bring about the WEF elite's wet dream of total enslavery of mankind.
Right now maybe around 15-20% of the western world's population is well aware of the agenda and acting players, while the rest of the designated human beings to this day refuse to do jack shit about it because they were and mostly still are outsourcing their thought processes to the faceless experts shoved into their faces like such on any given topic, then encuraged by mainstream media chose to sterilize most of themselves and their offspring with gene therapy against a slightly genetically modified seasonal flu, and afterwards mostly have chosen the path of more or less voluntarily quit life like completely obedient good Goyim. This is /biz/'s take.

>>52877607
Good take on it.

>>52882838
it was not all CZs fault for not holding the FTT bag

damn O'Leary is calling for a clawback of the Binance share buyout. That would be hilarious seeing them try to claw back that 2 to 3 billion from CZ

>>52882275
That argument is correct. You don't know in which sense yet. Once you realize it, you will shit your pants.

>>52887552
*grabs popcorn *

>>52887552
>clawback
What?

>>52882275
It actually could, if barrier to blockchain entry was lowered for normies, who are put off by the complexities.

>>52877584
He was in on the fraud.

>>52877998
kevin is trying to get eyes off of FTX as fast as possible and sounds scared while hes talking. i think he gave some money to SBF to do some stupid shit and is afraid its going to come back to bite him.

>>52877607

meh, I want my three minutes back

>>52877777
quints of truth

>>52877607
This doesnt seem like martin skreli personality. Did he get replaced by a reptilian?

>>52878756
>Its in every companies interest to kill the competition
Help. I cannot understand why FTX would put themselves in a situation where they are literally handing their competition a katana sword to slice their head off while yelling cool, aggressive, Kurosawa-like Asian stuff.

>>52877584
he's $15 million wrong.

>>52877584
>Kevin O Leary
get paid to shill the FTX bucketshop
when shit blows up go and complains to his jew buddies about his supposed losses
>can't make this shit up

>>52877584
It is his way of diverting the attention and feigning Ignorance of the fraud. I'll give him this, he didn't let slip any hint of knowing SBF fucked up. The fist thing that came out of his mouth in his statement says it all. The rest was a diversion.

>>52877584
He profited by taking the proceeds of fraud from FTX. So he's definitely in no position to provide an unbiased view.

Those paid off by FTX to promote the platform should be forced to return the funds since they were illegally acquired in the first place.

>>52880780
Couldn't have said it better myself. Shrekeli reeks of dork who never had friends as a kid and now compensates by being a cringy e-celebrity. Many such cases.

>>52878091
>bald white guy
You mean jew.

>>52877697
My boss
T. Work for a firm that sells crypto products to hedge funds

>>52888942
Well, Open rights exchange network is not that already.

>>52878204
>FTX printed out of thin air.
same for forward dating unlocks for alameda so they could collateralize their debts.

>>52877584
CZ is a crook but SBF is a fraud. Ultimately, the fraudster got liquidated, and good riddance.

kevin is a total scumbag. that being said there is reason binance isnt registered in any country with the motive and ability to audit

>>52877595
They were insolvent regardless and everything that cz did was legal

>>52877777
truth quints

>>52877956
ftx was doing fractioal reserve to the point they literally created 35% of btc mined on a year on paper supply that never really existed on reality.

>>52877607
Damn. I love Shkreli. I missed this stream.

>>52877584
Lmao he got outjewed by an even nastier, more hook-nosed jew. Meanwhile us gentiles, yes we the stupid goyim with a working jewdar had one look at that vile ratface Bankman and walked away.

>>52878258
I knew this poster was schizo lmao

>>52877584
If your company could be killed by a tweet then you had no company in the first place.
Reminder that this faggot got paid 16 millions by SBF.

>>52879673
>Voyager
>BlockFi
>Celsius
>Bancor
>FTX
All jews.
I'm a real antisemite now.

>>52877584
claw back all funds that were distributed to ftx promoters since they were paid out by stolen customer assets

>>52877584
CZ is the target of Western elites after exposing and shutting down their scam exchange. This is political at this point and you're retarded if you can't see it. They feel attacked and now they want revenge. Simple as

>>52887021
Good summary.

CZ holds the torch for what crypto could be. He eliminated a bad actor. All the fud on Binance is very fucking obviously retaliation.

>>52877595
The moral of the story, in all honesty is that CeFi cannot be fucking trusted. I used to use Binance for stables staking too until i saw all of this FTX issues and decided to move from CEXs to DeFi middlewares. SpoolFi, bEarnFi. Options are endless and safer