SNEAKO - SNEAKO Reacts to the FTX Disaster...

00:00:00.000 we talk about everything we're supposed to talk about i want to talk about the ftx today i want

00:00:03.020 to talk about crypto i want to talk about how that's the next epstein so actually this is kind 0.90

00:00:07.840 of some conspiracy night shit for all the schizos here we go but it's real it's not just a conspiracy 0.51

00:00:12.680 theory the ftx has been funneling money into the democratic party they're losing billions of dollars 0.98

00:00:17.080 and they're actually connected they're connected to the epstein's you know that the ftx dude what's 0.84

00:00:22.040 his name someone in chat tell me forgot his name that that fucking ethan decline looking dude who 0.98

00:00:27.840 lost billions of dollars has connections with the epstein family and i want to learn all about 0.78

00:00:34.140 that right now we're going to watch a video from jake tran explaining it let's get into it because

00:00:38.760 it's only a conspiracy theory until 30 days pass and then it's real i want to get i want to do a

00:00:44.420 deep dive into this so strap in strap on let's go hi welcome to another episode of cold fusion

00:00:51.240 what do you think is the probability of a multi-billionaire losing his entire fortune in

00:00:56.420 a single weekend most people would likely say that it's close to impossible and yet this is exactly

00:01:01.080 what happened to 30 year old sam bankman freed the ceo of ftx the second largest crypto exchange in the

00:01:06.380 world he was the golden boy on the cover of fortune and forbes magazine he had a net worth of 26 billion

00:01:11.940 dollars watched the super bowl with nba star steph curry had dinner with sia jeff bezos and leonardo

00:01:17.500 dicaprio big names like blackrock and softbank invested in his vision but behind the facade was

00:01:23.400 something completely different sam's empire was actually a bunch of 10 romantically involved

00:01:28.720 crypto kids running a shady operation out of the bahamas the fall of ftx triggered the collapse of

00:01:33.920 more than 100 affiliated companies and wiped out countless savings this story has strange but very

00:01:38.900 real ties to american politics the war in ukraine and enron it has the intensity of theranos there we

00:01:44.340 go now they're really so with a collapse as rapid as lehman brothers this is the wild story of the fall of ftx

00:01:49.680 you are watching cold fusion tv 0.99

00:01:53.860 how have you not seen this this shit is legit your job yeah i'm watching it right now 0.99

00:02:01.840 i want to figure this shit out bro i don't cheat my reactions yo big 50 in the chat w nico lemke 0.99

00:02:08.900 waggots love your streams how do i jump on a call with you i developed a software that mass uploads 0.97

00:02:14.520 tiktok's on unlimited uh tiktok accounts talk to me in the creativity kit that's the best way friday

00:02:20.320 4 p.m we have another call that's a use 50 it's 50 to join the creativity kit get in there type in

00:02:27.800 the vc right now and uh message one of like the high level people in the creativity kit i'll remember

00:02:31.800 that if you have a software that mass uploads tiktok's unlimited accounts then perfect dope

00:02:35.520 and thanks for the 10 tate said any rich person who doesn't indulge and enjoy their money by buying 0.97

00:02:39.680 cars and real estate and trips around the world are always shady as fuck look at this guy's up 0.97

00:02:42.800 they just be moving funny well and since he said that he's converted to islam which is against 0.97

00:02:49.200 that type of lifestyle sam bank but i agree this guy if you just you look like ethan decline i just

00:02:56.340 don't trust you there that is true if you got if you're a billionaire you got zero drip if you look

00:03:01.360 like you make soy boy videos if you look like you stream gaming on twitch and talk about toxic

00:03:07.660 masculinity and you're a billionaire you got skeletons in your closet i'm just telling you man

00:03:11.800 he looks exactly like ethan decline freed with his moppy hair and unsuspecting look

00:03:18.160 is at the center of this story he was born in 1992 in california to an academic and politically

00:03:23.140 connected family this video is better his mother barbara is a lawyer and the co-founder of multiple

00:03:27.200 democratic fundraising organizations sam's father joseph was a law professor and would later help his

00:03:32.080 son raise funds for his company in 2014 sam would graduate from mit and would go on to work at the

00:03:38.320 new york trading firm jane street capital there he realized that he could make untold amounts of

00:03:42.620 money trading cryptocurrency he discovered a loophole where he could buy bitcoin cheaper in america and

00:03:47.320 sell it for a higher price in japan sometimes he would shift up to 25 million dollars a day

00:03:51.220 in 2017 he would use the money from these trades to start his own company alameda research

00:03:56.520 alameda research was made up mostly of sam's mit college friends and former work colleagues

00:04:01.400 this firm would later be a key player in the collapse sam supposedly believed in effective

00:04:07.000 altruism which he described as quote trying to figure out what practical things you can do with

00:04:11.200 your life to have as much positive impact as you can on the world he would make an impact on the

00:04:15.520 world all right but it was by no means positive so do you think he's gonna end up dead

00:04:19.160 perhaps to appear more trustworthy as sam became rich he would promote himself as the resourceful

00:04:24.960 billionaire choosing to drive an average toyota instead of a typical supercar but in reality

00:04:28.960 he would own a 30 million dollar mansion in the bahamas regardless so okay he does live a lavish

00:04:34.620 lifestyle he just doesn't show it all the time he's in flex mine's the same way multi-millionaire 0.64

00:04:38.360 and he drives a fucking like o2 honda and no one in the chat was telling me what i should bring up 0.95

00:04:43.740 on fresh of it after hours tonight with salim many social media influencers would later buy into sam's 0.98

00:04:48.040 humble brand image and many promoted his companies okay the guy you see next to me is the most generous

00:04:53.160 billionaire in the world and i found him hi my name is sam while trading at jane street

00:04:58.800 hey my name is him make a few friends one of these was caroline ellison she and sam would begin

00:05:04.720 dating back in 2017 caroline wasn't really sure what to do for a career sam suggested working at

00:05:10.400 his new company alameda research she didn't mean to get into trading but caroline thought that she 0.95

00:05:14.580 hey nico again another fucking 50 50 push-up so you are a jew well there's nothing wrong with being 0.99

00:05:19.220 jewish so i don't know why you're saying that message me on nico lemke well i guess i'm jewish 0.99

00:05:26.220 bro because i ain't doing no i brought i did a big ass workout today i hit chest today i ain't doing no 0.80

00:05:30.200 50 push-ups but thanks for the 50. might as well give it a go and with that someone with little to

00:05:35.360 no experience would quickly be on her way to becoming the ceo of what would become a multi-billion 0.99

00:05:39.900 operation according to fortune alameda research quote was run by a gang of kids in the bahamas

00:05:48.900 end quote many of the staff were sam's ex-co-workers from the trading firm jane street and others were

00:05:54.300 from mit sam had an inner circle of 10 people who were all housemates they partied together and had

00:05:59.560 been involved in romantic relations with each other this group of course included the inexperienced ceo

00:06:04.940 caroline who would publicly praise amphetamine drugs on her twitter on her tumblr caroline would

00:06:10.660 state that the only acceptable polyamorous relationship should be in the form of a hierarchy

00:06:14.220 people should know where they fall within the ranking and there should be vicious power struggles

00:06:17.660 between the higher ranks i have no comment despite issues behind the scenes in 2019 sam would start

00:06:24.100 his next major project ftx ftx was a cryptocurrency derivatives exchange for those not familiar an

00:06:30.300 exchange is basically a place to store and trade different cryptocurrencies and tokens for a fee of

00:06:34.560 course the firm would also offer discounts to clients who stored their money in a token called

00:06:38.600 ftt the ftt token was made by ftx and it was also the token that blew up this entire mess but we'll get

00:06:44.860 to that shortly the group of young misfits kept high-level management in the dark about what they were

00:06:49.660 actually doing one former ftx employee told forbes that the group was quote kind of a little clique 0.97

00:06:55.000 just a bunch of degenerate kids at the end of the day and they were all fucking each other in a house 0.94

00:06:58.960 in the bahamas right they had like a 10 person relationship 0.90

00:07:03.000 end quote so what did alameda research do well essentially they were a crypto hedge fund of

00:07:09.020 sorts they carried out trades matched buyers and sellers and would give investors a supposed return

00:07:13.660 an alleged 2019 promotional document raises some eyebrows to get people in the door alameda promised

00:07:19.540 15 annualized fixed rate returns with no downside if you watch my episode on luna you would know that

00:07:25.400 that's an impossibly good offer as later reported by the wall street journal the firm would use customer

00:07:30.260 deposits as loans for trading alameda research would later receive 10 billion dollars in ftx customer

00:07:35.660 funds ftx of course was also owned by sam gambling and investing with customer funds without their

00:07:41.380 knowledge is a clear violation in traditional finance like 10 billion dollars in customer funds

00:07:46.220 were transferred to alameda now both the wall street journal and reuters are reporting that billions

00:07:50.060 of dollars was being used on alameda so billions of dollars in ftx customer money yes being traded on the

00:07:55.120 alameda uh like through their uh trading house and so that's especially concerning i mean you can't you

00:07:59.840 can't take customer funds without the consent and what's especially bad about it brian is that it's

00:08:03.540 a clear violation of ftx's own uh guidelines ftx and the alameda offices are located in the bahamas

00:08:09.120 just steps apart from each other in a co-working compound now they're all in argentina what do we

00:08:13.240 know about the use of customer funds from here to over here because that is spectacularly illegal oh

00:08:18.880 yeah that doesn't happen on wall street that is a clear violation of security we're not in wall

00:08:21.600 street we're in the bahamas we're in the bahamas and to make things worse some of the things that

00:08:25.680 caroline said in interviews weren't too encouraging yeah absolutely could pull it off without my math

00:08:30.460 degree use very little math um use a lot of like uh elementary school math that's bro you're a 0.98

00:08:36.680 billionaire fucking that queen she's beautiful what chat who does she look like 1.00

00:08:44.960 being comfortable with risk is she has like an inverted chin she looks like 0.99

00:08:51.840 she looks like leafy is here it's very important um we tend not to have things like bro she looks 0.97

00:09:02.280 like an ant how bro you you can't eat you can't buy a batter bitch with that much money stop losses i 1.00

00:09:08.940 think those aren't necessarily great risk management tool trying to think of a good example of a trade

00:09:14.040 where i've lost a ton of money um well i don't know i probably don't want to go into specifics too much

00:09:18.760 sam stated that he started ftx because he saw that most other crypto bro you said g said

00:09:26.340 you would platforms only managed to cater to inexperienced retail investors ftx on the other

00:09:32.680 hand would offer more advanced financial products like features and options trading for crypto or

00:09:37.080 tokenized stocks that track the value of real companies like tesla people either really like the

00:09:42.360 idea or really trusted sam because he managed to raise two billion dollars from various hedge funds

00:09:47.300 and investment banks including blackrock how he managed to pull this off i'm not entirely sure

00:09:51.680 no no i don't want to spread anti-semitism but sam bankman is he is he is he is he

00:09:57.960 is he is he mazelstof

00:10:01.640 but supposedly smart people thought of him as a genius in fact according to a blog post from venture

00:10:08.560 capital giant sequoia capital sam was playing the video game league of legends while nerd on a call to 0.82

00:10:13.840 discuss a 210 million dollar investment that's some shit destiny would do on seeing this someone

00:10:20.260 from the firm typed quote i love this founder in a chat box during the meeting after the call 0.76

00:10:24.780 sequoia gave sam the 210 million dollars little did they know they would never see this money again

00:10:29.640 according to coindesk current and former ftx and alameda employees claimed that the operations were

00:10:35.120 full of conflicts of interest nepotism and a lack of oversight here's a quote gary nashad and sam

00:10:40.980 control the code the exchanges matching engine and funds if they move them around or input their

00:10:45.320 own numbers i'm not sure who would notice end quote nashad's girlfriend claire who used to live with

00:10:50.180 i don't want to spread anti-semitism i just did a podcast with leah heilpern that uh the girl who

00:10:56.800 did that iconic interview with andrew tate and we were talking about how jews don't actually run the

00:11:01.500 world and it's just but why is it that they have a connection with the hepsines and that the more 0.94

00:11:06.920 these conspiracies get exposed it's always a fucking every time epstein was jewish too right 0.97

00:11:13.700 i hate these coins i really don't want it 1.00

00:11:18.120 no it's just a coincidence chat it's just shut up shut up shut up shut up shut up sam was hired and 0.99

00:11:24.840 immediately promoted to head of hr this meant that she could and often did fire anyone who didn't agree 0.97

00:11:29.860 with sam other employees claimed that sam was the ringleader quote sam wanted to take riskier

00:11:34.960 decisions than what others would take sam ran everything we trusted him and believed him

00:11:38.900 but regardless for now crypto was rising like no tomorrow and business was going great for sam

00:11:44.720 so i'd encourage everybody to go w jews w jews it's just it's just a weird coincidence

00:11:48.860 out there and look at you know let's call it the top 30 or so cryptocurrencies by market cap

00:11:52.520 what's up i'm getting into crypto with ftx you in

00:11:54.440 in july 2021 it was reported that ftx was averaging 10 billion dollars a day in trading volume across its 1

00:12:02.300 million users by this stage ftx had a uc berkeley stadium named after them an advertising partnership

00:12:07.400 with the golden state warriors and the mercedes f1 team they even had an nba stadium in miami

00:12:11.480 named after them ftx was involved in every corner of the crypto space

00:12:15.040 you recognize any of these names not really as ftx grew it became a household name promotional material

00:12:23.660 included stars like tom brady stephen curry naomi asaka and larry david and according to nbc

00:12:29.180 these stars received larry david i'm playing i'm playing sam's company in return in fact it's

00:12:34.080 reported that tom brady put his 650 million dollar fortune into ftx it's worth noting that this whole

00:12:40.380 time ftx had no board of directors just sam this guy was famous another employee and a lawyer ftx even

00:12:47.820 became involved geopolitically being a partner of the world economic forum

00:12:50.720 i didn't know this what lawyer ftx even became involved geopolitically being a partner of the world 0.97

00:13:03.560 economic forum what this shit proves the deep state i don't understand how all the liberals on youtube 0.95

00:13:11.780 are just completely ignoring the story how does this not prove the red pill idea that they're trying 0.99

00:13:20.080 to push a liberal woke agenda to make us dumber and it's an active agenda from the elites not because 0.97

00:13:27.640 they give a fuck about gender neutrality or trans people or blm but they're pushing woke ideas 1.00

00:13:34.240 so that they keep us all stupid weak and easy to manipulate while they make all the money pushing 0.99

00:13:41.460 the globalist agenda the world economic forum why did nobody tell me this chat 0.99

00:13:47.420 they also built the infrastructure to supply funds to ukraine basically converting cryptocurrency

00:13:53.380 donations into fiat currency for deposit at the national bank of ukraine at this stage sam became

00:13:58.640 knee-deep in politics

00:13:59.480 it's a conspiracy theory until 30 days goes by bro i've been saying that bill clinton's been eating

00:14:17.820 kids on an island look at him next to bankman man all connected with the epsteins it's a secret

00:14:24.940 society that works together to push woke people woke ideologies on the weak people so that we have

00:14:31.760 one giant government that controls the whole world they're going to control all the currency they're

00:14:37.460 going to make us have phones dialed up to the how much carbon we emit they want us to be godless and 0.98

00:14:44.300 stupid this is what they're pushing thanks for the five uh hung wizard google ftx ukraine please 0.97

00:14:50.160 we're watching this video soon he would be worth 26 billion dollars oh and he's wearing the ukraine 0.99

00:14:57.200 little what he donated five million dollars to joe biden in 2020 alone what

00:15:02.560 and 50 million dollars to politicians ahead of the 2022 midterm elections

00:15:08.780 but there's a hidden detail to the story a lesser known player within ftx was ryan salami

00:15:13.840 he donated 23 million dollars to republican politicians to also gain political leverage for ftx

00:15:19.000 left or right isn't the point here the main issue is that this company was buying political influence

00:15:23.820 and nobody was paying attention on the 16th of november 2022 the united states new york fed and 12 banks

00:15:29.860 including citigroup and wells fargo announced that they're testing digital us dollar crypto tokens

00:15:33.740 so after years of chatter central bank digital currencies are looking to be a part of the next financial

00:15:38.580 system for the united states and ftx wanted to be at the center of it as sam's empire grew

00:15:45.320 someone was watching closer than most his name was chang peng zao aka me with a hoodie and glasses and 50

00:15:53.260 cz and he was the ceo of binance ftx's biggest competitor a single tweet from this man would start

00:15:59.120 to chain reaction you know that that gun uh who just goes one two three four five six seven eight

00:16:07.160 nine ten eleven that would collapse sam's empire but we'll get to that for sam everything would

00:16:14.000 start to change in the second half of 2022

00:16:15.860 as inflation was beginning to rise the u.s federal reserve lifted interest rates higher rates mean more

00:16:23.180 expensive loans and a more cautious economy for this reason risk assets took a dive and the premier

00:16:28.140 among them was cryptocurrencies as crypto firms began to blow up and go under sam became the man

00:16:33.100 to bail them out he could then buy the crypto off their books at record discounts and this wasn't risky

00:16:37.900 because after all alameda research had plenty of capital to spare or so everyone thought behind the

00:16:44.120 scenes sam and his friends at alameda were making huge losses from bad trades and these bailouts

00:16:48.420 meanwhile guys as crypto lenders continue to collapse along with prices one key figure we've

00:16:54.080 talked about has emerged to help stabilize the ecosystem that is sam bankman freed founder and

00:16:58.080 ceo of crypto exchange ftx bankman freed's company provided a loan made up of crypto and cash it was

00:17:02.280 worth about 500 million dollars voyager only drew on about 75 million worth of that total legal analysts

00:17:07.760 that are telling me it's unlikely alameda will recoup that equity and credit line that money may be wiped

00:17:11.960 out in voyager's restructuring seeking to prop up alameda sam secretly transferred at least

00:17:16.760 four billion dollars worth of ftx consumer funds publicly he was stating that all of these funds

00:17:21.200 were being moved around within the ftx company quote heads up rotating a few ftx wallets today

00:17:26.280 mostly non-circulating we do this periodically might have a few more coming won't have any effect

00:17:30.460 people tracking these wallets were suspicious and they had a right to be sam was lying this trade

00:17:36.040 wasn't routine it was the largest transfer of tokens on an exchange ever the recipient wallet wasn't

00:17:40.960 one with an ftx but another wallet that was at alameda according to reuters sam did not tell

00:17:46.540 other ftx executives about the move to prop up alameda he was afraid that it could leak

00:17:50.740 meanwhile caroline accidentally said on a call that ftx used customer money to help alameda meet its

00:17:55.960 liabilities the 27 year old ceo just admitted to potentially criminal activity and could now be up

00:18:03.520 for a lengthy jail sentence so a key point to note is that these funds given to alameda weren't in

00:18:11.660 dollars but four billion dollars worth of ftx's own tokens ftt and herein lies one of the biggest

00:18:17.500 issues with sam's crypto empire ftt was essentially a made-up token by sam and his friends

00:18:22.740 here's the problem say you had a great idea and we're looking for an investment sam could say

00:18:27.360 here's five million dollars but it's not dollars it's an ftt frankly he was using money that didn't

00:18:32.960 exist to buy things as cory clipston ceo of the investment platform swan bitcoin puts it quote

00:18:39.220 it's fascinating to see that the majority of net equity in the alameda business is actually ftx's

00:18:43.660 own centrally controlled and printed out of thin air token what basically doing what the federal

00:18:48.080 reserve does just making up money on november 2nd sam's worst fears were realized when behind the

00:18:55.080 scenes information about alameda finally leaked a report by the news outlet coindesk detailed a very

00:19:00.860 unhealthy balance sheet that allegedly showed that much of alameda's 14.6 billion dollars in assets

00:19:05.540 were held in ftt the coin made up by sam and his friends in essence sam created a coin artificially

00:19:11.320 attributed value to it and then used it as collateral to finance his projects it was very

00:19:15.440 very shady for sam this was never a problem as long as the coin went up in value but things were

00:19:20.700 different now the crypto market was sliding and as this happened much of alameda's books became

00:19:24.540 essentially illiquid questions about the real financial stability of ftx began swirling

00:19:29.100 it became the perfect opportunity for sam's main rival cz to step in

00:19:33.720 sam and cz's relationship started six months after the launch of ftx

00:19:39.860 cz bought 20 of the exchange for about 100 million sam would later buy back the stock for 2 billion

00:19:45.120 dollars this sum was paid to binance in part by ftx's own token ftt meanwhile cz was bitter because

00:19:52.700 behind closed doors sam had been lobbying for the creation of a brokerage-like licensing system

00:19:56.440 decentralized finance and who would lose out the most from this arrangement almost all other

00:20:00.920 exchanges especially binance ftx's main rival and this is where things get a bit crazy because

00:20:05.900 interestingly it's reported that the head of the sec gary gensler and caroline's dad glenn ellison

00:20:10.820 both worked at mit as professors at mit caroline's dad was the former boss of the head of the sec

00:20:16.360 an alleged leaked email shows that the sec was going to give ftx quote no action relief basically

00:20:22.940 this means we know that you're breaking the rules but we'll look the other way if these reports are

00:20:27.740 true we could be looking at genuine corruption within the u.s government

00:20:30.660 wow is it not insane to you that this information is out there and just all the commentary channel

00:20:42.100 all the streamers all the liberal streamers on the mainstream platforms are not talking about this 1.00

00:20:47.720 what are they talking about who fucked who did she suck your dick no that's problematic 1.00

00:20:52.620 that's gaslighting you're manipulating me no if you in a way if you put it in a way 1.00

00:20:57.300 you're she's manipulating shut the fuck up look what's happening and also look at this bitch 1.00

00:21:03.560 look at her look at her you got a billion you're fucking that 1.00

00:21:07.940 she looks what movie is that she looks like the ant from a bug's life 1.00

00:21:18.280 and you're billion you're funneling and money laundering all this to the government you're 1.00

00:21:28.840 gonna risk it all and then go out fucking a blue ant from a bug's life do better sam bankman 0.99

00:21:35.080 genuine corruption within the u.s government as ftx grew cz viewed them as a genuine competitor 0.99

00:21:40.800 he now had two billion dollars worth of ftt tokens if he wanted he could bring down the house of cards

00:21:45.980 so he did and the leaked coindesk report was the perfect excuse to do that

00:21:50.060 what set in motion the disaster was a simple tweet it's november 6th and cz comes out publicly stating

00:21:57.640 that binance will dump the two billion dollars worth of ftt that they got from that early ftx stake

00:22:01.840 now ftt wasn't heavily traded so dumping all of this on the open market at the same time

00:22:06.360 would have mammoth consequences so ftx ceo sam bankman free took to twitter this morning

00:22:10.240 to clear something up he said that a competitor is trying to attack the company with rumors

00:22:14.520 he then says in this it's fine assets are fine you know that meme where everything's burning and

00:22:19.660 falling apart ftx is fine assets are fine emery tate says she looks like the girl with the glasses

00:22:26.800 and recess yeah mrs richard he sam bankman money laundered to the democratic government to

00:22:34.740 push a woke agenda and also get really rich and be in a polyamorous relationship same tweet ftx is

00:22:40.960 fine assets are fine over the weekend speculation rose about the solvency of ftx this came after a

00:22:46.740 coindesk report revealed alimator research's balance sheet is full of ftx's native token ftc so binance

00:22:53.260 ceo cz got in on the actions he said that he would be liquidating the exchange's ftt tokens on

00:22:59.040 its books and there was a little bit of back and forth with alimator ceo adam i'm gonna kick this

00:23:03.800 off to you first i was gone for a week and what a story to come back to maybe you could talk us

00:23:09.240 through what is going on the tweet shook the crypto world and money began bleeding out of ftx and fast

00:23:14.080 in a correspondence with staff a presumably panicked sam said that the firm saw a quote giant withdrawal

00:23:19.620 search as many users rushed to withdraw six billion dollars in crypto tokens from ftx in just 72 hours

00:23:25.300 sam would remain confident stating quote we're chugging along obviously binance is trying to go

00:23:30.520 after us so be it end quote the ftp tokens price collapsed 80 percent over the next two days this

00:23:37.080 resulted in ftx's reserves falling ftx didn't even have the funds to pay out all of these withdrawals

00:23:42.520 so did they use customer funds they had nine billion dollars in liability and only 900 million in

00:23:47.280 liquid assets oh my god freshest call should i pick up fine i'll pick up

00:23:50.480 yeah i'm streaming we're talking about the ftx scandal we're learning about what's happening with

00:23:57.160 the government and the new new world order yeah you said 10 o'clock

00:24:01.080 yo

00:24:06.960 what happened you just gonna start no i i just froze like what hidden does

00:24:32.240 what so what so are you still doing or what you told me 10 years huh you told me 10 yeah i told

00:24:41.340 him 10 but i didn't know all right we got we got done early all right so uh yeah i guess 9 45 i think

00:24:46.820 uh salim's coming i told salim 10 should i tell him earlier yeah yeah yeah

00:24:51.760 all right what's up i'm pulling up later say what up to the stream say what up to rumble

00:24:57.020 all right yo what up rumble okay like this all right bro all right

00:25:04.080 that's only 10 percent covered to stop a further sell-off caroline of alameda offered binance a deal 1.00

00:25:14.220 alameda would purchase all the ftt that binance was dumping on the open market but cz binance's

00:25:18.900 ceo answered by stating that they quote won't support people who lobby against other industry

00:25:23.260 players behind their backs next more news would come out that would shock everybody again

00:25:27.620 sam called cz begging for help an agreement was made for binance to buy ftx

00:25:32.220 so to go from saying that assets are completely fine to a complete 180 and selling his company in a

00:25:36.860 single day things needed to be very bleak while the deal was labeled as a strategic acquisition

00:25:41.740 one two three cz went into pr mode stating that quote ftx was in trouble we bought them to save

00:25:47.620 them he may have said that but he knew perfectly well that dumping all of this ftt would destroy

00:25:52.500 sam's empire buying up all of his assets at a steep discount would be a great way to consolidate power

00:25:57.700 but as a side binance were by no means clean themselves the u.s justice department is investigating

00:26:02.900 binance allegations include money laundering and criminal sanction violations reportedly binance

00:26:08.200 had helped iranian firms trade eight billion dollars since 2018 despite u.s sanctions

00:26:12.880 for a while this looked like one of the most cutthroat business moves in recent times

00:26:19.720 binance was able to destroy and acquire its main competitor however only two days later binance made

00:26:25.740 another announcement and this would rock the crypto world once again they were no longer pursuing the

00:26:30.160 deal and they weren't going to help ftx so what was the reason for the major so it's binance beast

00:26:35.080 are they the good guys once binance investigated ftx's books they found a disaster the company had

00:26:42.260 a far bigger gap between assets and liabilities than they expected reports suggest an eight billion

00:26:46.580 shortfall with this news even some employees at ftx were shocked executives had been left in the dark

00:26:51.980 about the true state of affairs the kids in the bahamas were playing with risk and they were losing

00:26:55.840 big without telling anyone on top of this the u.s justice department began to investigate yo this is

00:27:01.440 what tiktok is doing man they banned me on tiktok and they put pedophile globalist world economic

00:27:09.460 forum money laundering fake woke ethan decline looking bots on there they were losing big without

00:27:16.300 telling anyone money laundering dances on top of this the u.s justice department began to investigate

00:27:21.960 this was over the 10 billion dollars of customer ftx funds that were given as loans to alameda

00:27:26.040 so with no liquidity and no plan b ftx stopped withdrawals whispers of bankruptcy filled the digital

00:27:33.100 spaces of twitter on the 11th of november sam resigns and tweets that ftx and alameda ftx is fine

00:27:39.900 everything's fine a filing for bankruptcy this news sent crypto markets crashing no corner of the market

00:27:45.420 was left unscathed over 150 billion dollars in three days that's how much the world's 15 largest

00:27:51.300 cryptocurrencies lost in market value it's because of the crypto exchange platform ftx orderly is

00:27:56.460 difficult when you have an entity that has 130 entities across the globe really looking to file

00:28:01.300 for bankruptcy and receive whatever assets they can to make some investors partly whole again however

00:28:06.880 the value of a lot of their holdings obviously have fallen dramatically you have ftx trading the ftx u.s

00:28:11.940 entity alameda research which is sam bankman freed's trading shop and again like i said 130 additional

00:28:16.760 companies he apologizes and took full responsibility but people were understandably still extremely

00:28:23.200 angry and with that ftx which was once valued at 32 billion dollars earlier this year with investors

00:28:30.360 including softbank and blackrock was no more wait wait it was tied with blackrock too

00:28:37.660 two billion dollars earlier this year with investors including softbank and blackrock this is what i'm

00:28:42.560 saying they all work together when you talk about the elites when you talk about the globalist

00:28:46.620 agenda it's the democratic party it's the people who own these companies behind the scenes who

00:28:52.080 push a woke agenda and invest in different places and have woke scores

00:28:57.460 it's people like this behind the scenes who probably touched a kid and now does whatever

00:29:03.860 the woke mind works for that world economic form it's one giant ring of people who are trying to

00:29:10.540 control us as much as possible i'm glad that when i talk about it before i just sound like a crazy

00:29:16.120 conspiracy theorist but this is really unraveling in front of our faces this is what's going on

00:29:21.580 was no more another mystery soon came to light as it was discovered that one billion dollars worth

00:29:27.680 of customers cryptocurrency had vanished from ftx writers is also reporting that one to two billion

00:29:32.520 dollars of that customer money that was transferred to that trading house alameda is just missing they

00:29:36.820 just don't know where it is so that's a huge concern and to make matters worse whatever money

00:29:40.540 remained in the ftx accounts was hacked and stolen alarmed consumers began chattering on social

00:29:45.440 media that cryptocurrency was disappearing from their accounts and their balance was now reading

00:29:48.880 zero chat who took an l i had no money involved in ftx did anyone take a fat l like that over half a

00:29:55.440 billion dollars in cryptocurrency was siphoned online blockchain detectives this is why leah said and

00:30:01.120 the podcast is gonna drop soon all the tiktokers that's gonna be great clips that was one of the my the

00:30:05.700 best podcasts i ever did best interviews i've ever had she says just invest in bitcoin ethereum is some

00:30:10.340 world economic form crypto that they're trying to make to compete with bitcoin that's why i have an

00:30:15.260 equal amount of money in both i'll have some globalist money but i have a lot of bitcoin as well and it's

00:30:19.320 really low right now and i'm dumb i don't know a lot but i know it's the lowest it's been in over

00:30:23.760 two years right now or at least a year i think bitcoin's had like 16 000 and it peaked at 68 000 last year

00:30:30.600 but now's a good time it's decentralized no globalist money is involved in it it's the only

00:30:36.800 crypto that really has a chance to beat the globalist economy to beat the all the globalist

00:30:43.240 currencies i that's what i've heard from people who are really into crypto and it's low right now

00:30:48.640 and i'm not gonna i'm never gonna promote a crypto scam i'm never gonna try to scam you

00:30:52.820 the only thing that i sell is my course which is 50 the creativity kit i have three calls i talk to

00:30:59.340 you it's a really clear exchange i'm never gonna do a crypto scam and it's tempting to do some

00:31:03.600 gambling stuff i'm not gonna lie wll if i do some gambling i can make a bag off that but maybe it's

00:31:11.280 better to just do healthy business and never not really indulge in any of that i understand that it's

00:31:17.440 your decision to do what you want to do but seeing the way a lot of these businesses end up maybe it's

00:31:23.000 better if i just stay out of that completely and now watching closely so far the hacker has moved

00:31:28.740 into ethereum making them one of the largest holders in the world

00:31:31.380 countless companies are affected sequoia capital one of the biggest ftx backers announced that

00:31:41.620 their stake was essentially worthless and wrote it off their books so i guess next time when they take

00:31:45.800 an investment call with a guy playing league of legends they may think twice galois capital a hedge

00:31:50.240 fund whose founder is credited with spotting the collapse of luna still had quote half of our capital

00:31:54.660 stuck on ftx at the time of implosion blockfire had to stop withdrawals and are now filing for

00:31:59.500 bankruptcy a teacher's pension fund in canada invested almost 100 million dollars into ftx

00:32:04.500 so now innocent people who had nothing to do with crypto could see a dent in their retirement

00:32:08.220 ftx bankruptcy files show 134 affiliate companies across the world estimates say that liabilities could

00:32:15.000 be up to 50 billion dollars for a sense of scale enron's liabilities will turn to 3 billion

00:32:19.360 fittingly ftx's new ceo is the former enron bankruptcy lawyer the white house would comment

00:32:25.220 on the situation calling for more regulation as for sam according to reports he lost all of his

00:32:30.000 wealth and has a negative net worth this is what's gonna happen to him chat i want to see your

00:32:34.520 predictions because he has more debt than equity in all of his companies and investments adding the

00:32:38.580 involvement of the department of justice in the case who knows how much the damages would be

00:32:42.060 sam is currently under police surveillance in the bahamas

00:32:44.740 on november 16th sam tweeted that he was going to meet regulators to try and repay customers

00:32:49.900 comments under the tweet could be summarized as basically what are you doing you should be in

00:32:54.020 jail meanwhile bloomberg reports that u.s and bahamian authorities are in talks to bring sam

00:32:58.880 back to the u.s for questioning this will be what's gonna happen if they arrest him test of his

00:33:02.720 political donation oh he's chatting he's gonna off himself the camera's gonna turn off in the

00:33:06.880 prison cell for sure so naturally there's unconfirmed rumors at this point i'm going to still

00:33:12.100 mention them but take the following with a grain of salt the main theory is that the hack was an

00:33:15.980 inside job funds were stolen through a secret back door that sam could siphon without detection

00:33:19.920 when reuters asked about the missing funds sam simply responded with three question marks

00:33:24.100 as for crypto as a whole there's now a whole lot of risk and uncertainty it's going to take a while

00:33:29.980 to see which companies were dangerously tied up with ftx a lot of firms seem like they were tied up

00:33:35.480 somehow with ftx right now we're just going to have to wait and see what happens with the market and

00:33:39.820 what arrests are being made will there now be regulation what happened to the missing funds we

00:33:44.120 just don't know at this point it's a wild story that's still unfolding ftx you know generated uh an

00:33:49.500 ftt token blew you know if you trade your own token on your own exchange with wash trading with

00:33:54.600 leverage you can park the price at any number you want so you want to make a billion dollars you jack

00:33:59.300 the price by three bucks by wash trading with yourself then you generate a billion dollars of

00:34:03.260 collateral then you look for a bank that'll loan you money against the collateral of course nobody in

00:34:07.480 the right mind should be loaning money against an air token that you manipulated yourself but of

00:34:11.100 course sam happened to be the ceo of a bank that made loans so he applied for a loan from his own

00:34:15.840 bank and he granted it to himself and then he took real assets like bitcoin from his honest customers

00:34:22.060 and then he rehypothecated him traded him lost him and so this is just an egregious ethical lapse and

00:34:28.120 it can't go on so what can we learn here well if you're an investor only put in what you're willing to

00:34:33.020 lose they didn't mention in this video how he was one of the biggest donors of all time

00:34:37.580 to the democratic party he was funding biden's campaign this story also shows that in a bull

00:34:43.660 market with cheap money anything goes even the smartest experts become drunk with the idea of

00:34:47.820 making millions they're willing to throw hundreds of millions of dollars to a 30 year old and his

00:34:51.440 polyamorous friends some of whom had next to no experience really with this whole thing it just

00:34:55.920 seems like no one knows what they're doing although there might be a deeper aspect at play here in the

00:34:59.980 depths of u.s politics although we can draw nothing conclusive at the very least the political

00:35:06.420 lobbying and possible corruption is concerning so what do you guys think about all of this feel free

00:35:10.980 to discuss below the whole thing reminds me of 2008 firms making up financial products taking on huge

00:35:16.780 risk and passing it to others it's like 2008 mixed with epstein it's crazy because cryptocurrency was

00:35:21.940 supposed to stop this but i guess where there's money to be made you always get bad actors

00:35:25.300 i just finished the documentary on the 2008 crisis what happened and how it still affects all of us

00:35:30.900 today so really i can't help but see the parallels i'll leave a link to that and my other documentaries

00:35:34.640 on fraud and scams

SNEAKO - November 17, 2022

SNEAKO Reacts to the FTX Disaster...

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