IT GOT SO MUCH WORSE

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  • Опубліковано 11 лис 2022
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    Credits:
    3D Artist: Ed Leszczynski / leszczynskied
    Video Editor: Harry Bagg / harryrbagg
    Virtual Production Software: Aximmetry aximmetry.com/
    This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I think someone who promises $100K/month for an upfront fee of $2K is a scam. Others would call it a Napoleon Hill pitch.
  • Розваги

КОМЕНТАРІ • 6 тис.

  • @quartzninja
    @quartzninja Рік тому +17074

    The "you trust the banks? lmao" crowd funneling their money into the pockets of random strangers will never not be hilarious to me.

    • @Historyfan476AD
      @Historyfan476AD Рік тому +932

      With a Bank at least you have an address to rant at, With crypto online not so lucky. And you know legal reasons as well with banks.

    • @darrenturner3534
      @darrenturner3534 Рік тому +1670

      Banks are the enemy. Now please give me your money with no safeguards or recourse.

    • @BigTobi
      @BigTobi Рік тому +200

      Banks will dunk on you. Don’t think they won’t.

    • @Historyfan476AD
      @Historyfan476AD Рік тому +819

      @@BigTobi True but the Bank at least has an address and some physical presence.

    • @bigd8122
      @bigd8122 Рік тому +644

      @@BigTobi You are the problem.

  • @dreambotter6389
    @dreambotter6389 Рік тому +10169

    People not trusting the banks and then giving money to a guy named "Bankman" is something else

    • @Iudicatio
      @Iudicatio Рік тому +452

      @@jucyboi Some casual antisemitism, nice!

    • @mihailhidler5400
      @mihailhidler5400 Рік тому +38

      @@Iudicatio :(

    • @SLRModShop
      @SLRModShop Рік тому +1

      @@Iudicatio If he's a leftist, that's nothing personal, he's just allergic to anyone having a savings account and enough resources to not depends on the state to survive. If that make you feel any better, he hates you too if you pay more tax than you're using tax payer money.

    • @CommaGaming
      @CommaGaming Рік тому +303

      @@Iudicatio You dodging the truth though, that's even worse.

    • @Iudicatio
      @Iudicatio Рік тому +52

      @@CommaGaming Please ELI5 what the truth is, I really don't know.

  • @scottfrost8956
    @scottfrost8956 Рік тому +368

    “Isn’t it awfully convenient that you’re suddenly bad at your job, when it would be criminal if you actually knew” ~CoffeeZilla

  • @jellorelic
    @jellorelic Рік тому +159

    Dan's comment from "Line Goes Up" saying that crypto bros saw the 2008 collapse and didn't think "That was BAD, should try to prevent that" but rather thought "How could I have been the winner that pulled out juuust right" looks very, very on point here.

    • @blakksheep736
      @blakksheep736 9 місяців тому +5

      I love that video. I really should go back and watch it again.

    • @average_deltarune_fan666
      @average_deltarune_fan666 6 місяців тому +2

      @@blakksheep736Watched it so much. Line Goes Up is probably my favorite video essay out there.

    • @blakksheep736
      @blakksheep736 6 місяців тому

      @@average_deltarune_fan666 😄

  • @maemorri
    @maemorri Рік тому +5331

    The oldest rule still holds true: the easiest way to rob a bank is to own one.

    • @Gloomdrake
      @Gloomdrake Рік тому +65

      But I thought the oldest war was to never start a land rule in Asia

    • @snakejazz
      @snakejazz Рік тому +5

      Damn I didn't realize banks went back that far

    • @carlosmartinez9736
      @carlosmartinez9736 Рік тому +22

      @Naomi Flowerlove RIP

    • @sblinder1978
      @sblinder1978 Рік тому +35

      To make it even better, use your connections to avoid having your bank be regulated like a bank

    • @xbabu142x
      @xbabu142x Рік тому +51

      Also, don't give your money to people who brag about their recreational amphetamine use. There is no such thing as recreational amphetamine use.

  • @The-Rest-of-Us
    @The-Rest-of-Us Рік тому +3895

    The people who called this guy the next Warren Buffett are the same people who called Elizabeth Holmes the next Steve Jobs.

    • @tabby73
      @tabby73 Рік тому +48

      Exactly 👍

    • @PutXi_Whipped
      @PutXi_Whipped Рік тому +2

      Yup FTX is just crypto Theranos: a fraudulent company propped up by Silicon Valley, Wall Street and government/government adjacent entities with vested interests to see it succeed but lacking the will to do any oversight.

    • @travelwithtony5767
      @travelwithtony5767 Рік тому +5

      More like Warren Buffoon. Lmao. 😂

    • @patrickbaklava7297
      @patrickbaklava7297 Рік тому +145

      I honestly hope they don't regulate the crypto industry.
      Imo if people want to be high risk investor's they should be free to mail all their money to some random Incel .

    • @fadfaasfsafsasaf8235
      @fadfaasfsafsasaf8235 Рік тому +32

      @@patrickbaklava7297 pretty sure mah boy wasn t an incel after making Bank maaannnn

  • @marcdc6809
    @marcdc6809 Рік тому +667

    I explain it to my children like this: imagine a valet parking service where your car is then used by uninsured uber drivers...

    • @sagnorm1863
      @sagnorm1863 Рік тому +32

      Isn't it easier to say "The bank gambles your money?" Your car version is waaay harder to understand.

    • @marcdc6809
      @marcdc6809 Рік тому +40

      @@sagnorm1863 no, money and bank are very difficult principles... valet parking is something they can relate to.
      Money is linked to debt, when I borrow money from the bank and pay a builder, and that builder puts 'my' money in the bank, the bank again lends it to another guy that then pays his builder... how do you explain that?
      The argument that 'banks do the same thing' is a bit cheap, banks wish they could still do the same thing, and the risk is still there that some Bankman Fried or Jerome Kerviel goes out and plays with your money in a casino setting with short selling...

    • @fineacorn
      @fineacorn Рік тому +16

      @@marcdc6809 how can one relate to valet parking?

    • @marcdc6809
      @marcdc6809 Рік тому +10

      @@fineacorn it's in the movie 'Freddie Buellers day off'... it also works with 'just another parking garage where you take a ticket and you need to pay to get out'... even better, the owner then comes to break into your car and hotwires it...

    • @Poolooskoo
      @Poolooskoo Рік тому +12

      @@marcdc6809 Ah yes Freddie bueller and best friend Camerie! Great movie!

  • @rustycage
    @rustycage Рік тому +574

    I'm just throwing away all my money. I don't want it anymore. too complicated

    • @BurningUpInFreeFall
      @BurningUpInFreeFall Рік тому +66

      Don't worry buddy, I can take it off your hands

    • @jacobstein4676
      @jacobstein4676 Рік тому +5

      Good to see you’re still around!!

    • @genossinwaabooz4373
      @genossinwaabooz4373 Рік тому +3

      That's the way. If ppl could only realize it's the money creating the problems.

    • @shina8767
      @shina8767 Рік тому +4

      NFT is scam

    • @nattiecraft
      @nattiecraft Рік тому

      Rusty always has the best takes guillotine your money!!!

  • @humblescribe8522
    @humblescribe8522 Рік тому +2451

    "That is not a 'poor judgement call', it is theft and fraud."
    Coffeezilla telling it like it is.

    • @zabik7221
      @zabik7221 Рік тому +4

      Yep another Zombie 🧟‍♂️.

    • @aziris7257
      @aziris7257 Рік тому +24

      When he said "that is not a poor judgement call" i mentally followed with "it's a fraud" but he followed with "it is theft". I thought, oh it's not fraud? Then he added "and fraud" and i was like "ooh, i was just too early to the party".

    • @compoundalchemistget1monan591
      @compoundalchemistget1monan591 Рік тому +2

      YOU ON TRENDING, PLAYA! DEATH TO BS CRYPTO SCAMS

    • @zabik7221
      @zabik7221 Рік тому +1

      @@mikehoncho2798 SBF Jews too?

    • @humblescribe8522
      @humblescribe8522 Рік тому

      @@mikehoncho2798 No he wasn't. Fraud is committed by people of all backgrounds. Take your tired anti-semitism elsewhere.

  • @Yoshikaable
    @Yoshikaable Рік тому +4636

    The real drama begins when Congress hauls him in, and Coffeezilla appears as an expert witness.

    • @billderby1527
      @billderby1527 Рік тому

      Congress if still in Dems hands will not call him in as this story leads to corruption of Ukraine funds and kickbacks to large political names, IMHO

    • @wootdoo
      @wootdoo Рік тому +207

      They won't do that, they were working with him. He was their main campaign donor

    • @jeffhaggarty9879
      @jeffhaggarty9879 Рік тому +132

      @@wootdoo yeah...no. This will be looked at. And he was far from anyone's biggest anything.

    • @thetruthiswhatmatters6382
      @thetruthiswhatmatters6382 Рік тому +3

      Lmao

    • @charcoal5495
      @charcoal5495 Рік тому +1

      W

  • @nimbusshadow-wings
    @nimbusshadow-wings Рік тому +325

    Dont call them kids, dont do that.
    they are adults and new exactly what they were doin

    • @seancostello4158
      @seancostello4158 Рік тому

      i mean, yeah technically they're adults, and they're going to be punished accordingly, but these are just a bunch of dumb kids. Anyone stupid enough to trust htem with their money.. well, you know what they say.. a fool and his money is soon parted.

    • @craigstoner2632
      @craigstoner2632 Рік тому +1

      Know*

    • @geofff.3343
      @geofff.3343 Рік тому +6

      Like is a very important word. Coffee was quoting other people but when you say someone is like something. You're not saying they _are_ that thing, but that they're sharing the behavior or appearance of that thing. So they're adults behaving like kids.

    • @judeconnor-macintyre9874
      @judeconnor-macintyre9874 Рік тому +1

      They're just a bunch of 30-year-old kids.

    • @isaacbrown4506
      @isaacbrown4506 7 місяців тому

      ​@@craigstoner2632knew*

  • @Lucylu723
    @Lucylu723 Рік тому +548

    The more and more I hear about this story, the more and more I am just dumbfounded at how human ego and vulnerable gullible people are a horrible mix.

    • @NanomachineExE
      @NanomachineExE Рік тому +1

      The 1800s had snake oil salesmen, the 1700s had the witch trials, and so on. Evil people have been lifting coin from the dumb masses since the dawn of currency.

    • @GeorgHaeder
      @GeorgHaeder Рік тому +17

      FTX or once again the old saying "A fool and his money are soon parted" became true.

    • @alejandrogn4
      @alejandrogn4 Рік тому +11

      greed....the ultimate cognitive bias

    • @ericheick7044
      @ericheick7044 Рік тому +9

      Don't forget politics. There were a lot of outside forces that allowed this to go on because they were getting rich off SBF.

    • @SergeantExtreme
      @SergeantExtreme Рік тому +7

      @@ericheick7044 Stop sugar coating it with "outside forces" and say it as it is: the Democrat party. They received over $1 BILLION in donations from this guy.

  • @alichehab5804
    @alichehab5804 Рік тому +1163

    He's so "generous" that he likes to give your money away especially to himself. What a nice guy.

  • @candyman9635
    @candyman9635 Рік тому +4194

    My god, it's just dawned on me that Coffee is actually at this point a serious journalist.
    He gets insider knowledge, he gets scoops and he does the work.
    This is blessed.

    • @tonytins
      @tonytins Рік тому +67

      We need more people like Coffee.

    • @nielsbishere
      @nielsbishere Рік тому +107

      Always has been

    • @Jushwa
      @Jushwa Рік тому +45

      Wow it’s almost like that’s always been the goal since this channels inception, amazing.

    • @HT.100
      @HT.100 Рік тому +105

      @@Jushwa don't talk in reddit.
      coffee had nowhere near the stature and authority that he has now

    • @Jushwa
      @Jushwa Рік тому +24

      @@HT.100 hur dur “he has more subs so now he’s a real journalist “

  • @tunaskelapa4997
    @tunaskelapa4997 Рік тому +5

    The difference between Robin Hood and Sam Bankman-Fried is Hood stole money from the rich whereas Bankman-Fried stole from rich and poor.

  • @deepstatethrombosis
    @deepstatethrombosis Рік тому +51

    "I'm sorry, I fucked up" isn't taking responsibility. If I was dying of thirst, & Dasani handed me an empty glass & told me it'll have water in it eventually, & they're sorry, I'm still dying of thirst. SBF is a liar & a thief & may as well change his last names to Madoff.

  • @_bradleystrider
    @_bradleystrider Рік тому +205

    the funniest thing about the crypto scene is how it's literally just a speedrun of the history of scams and fraud, it's like the tiktok version of last century's economy

    • @adambreezy251
      @adambreezy251 Рік тому +24

      Yup.. Traditional finance is what, like 100 years old? Crypto is around 15. And we're making the exact same mistakes as trad did. If not worse.

    • @adambreezy251
      @adambreezy251 Рік тому +6

      Bottom line is, it is bound to happen. Just by looking at facts. History tends to repeat itself. And it will make the industry stronger long term. Short term.. Not so much 😅

    • @James-vj5hz
      @James-vj5hz Рік тому +2

      At least these scams are allowed to blow up.

    • @justeezy8569
      @justeezy8569 Рік тому +13

      @@adambreezy251 I can’t see more new people investing into crypto after this. The main reason to invest into crypto was because it is unregulated, secure, and through the blockchain, but when a crypto trading site CEO moves it into worthless crypto it just makes every outsider think it’s a even more of a scam. Crypto barely has uses as is

    • @michaelstollairetbarceo3287
      @michaelstollairetbarceo3287 Рік тому +2

      @@justeezy8569 Legitimate Defi and DEX's. Trillions get traded via Uniswap, no issues in 3 years. Crypto was invented* to get ride of middlemen and counter-party risk.

  • @Fernando-wz6no
    @Fernando-wz6no Рік тому +49

    Those criminals *NEEDS* to go to *JAIL* !

  • @sergiosaunier
    @sergiosaunier Рік тому +41

    "1 billion in liquid assets, 9 billion in liabilities"
    Pretty much the story of my life.

    • @noahway13
      @noahway13 Рік тому +12

      Mine also, but with less zeros.

  • @abetts123
    @abetts123 Рік тому +2067

    Just saying “I’m sorry” isn’t the same thing as being accountable

    • @pauls5745
      @pauls5745 Рік тому +26

      ikr like how can he escape this with personal millions when $billions are wiped out. i bet he himself pulled his money out as it went south. this is criminal.
      I hope coffee can trace some of SBF's not really personal accounts

    • @burtonl7239
      @burtonl7239 Рік тому +2

      It is a little bit. More accountable than not apologizing. LMAO.

    • @Jose04537
      @Jose04537 Рік тому

      @Hunter Vonnegut Rich people only face consequences when they steal from other rich people. In this case, He stole from ultra rich people, like black rock, so he's f*cked.

    • @jenaf4208
      @jenaf4208 Рік тому +5

      Do it like BP and make an ad campaign to say your sorry. With TV ads and stuff.

    • @fourshore502
      @fourshore502 Рік тому +3

      especially not when you get on your private jet and try to escape to dubai a few hours after you said sorry lmao

  • @captainthrall
    @captainthrall Рік тому +227

    What a fun story. "You can't trust the system, man... give your money to this random dude instead. Trust me bro."

    • @mshell1959
      @mshell1959 Рік тому +6

      Exactly!

    • @Harshal22159
      @Harshal22159 Рік тому +8

      Irony is him having "Bankman" in his name ☠

    • @kidscast5842
      @kidscast5842 7 місяців тому

      Exactly, people complain left and right about the gov but what they fail to realise is the regulated banks and the gov would never ever have something like this occur. Since as we know now this involved even in this are having some serious consequences.

  • @whos1st
    @whos1st 7 місяців тому +21

    Well - this has aged well

  • @coreymonday1375
    @coreymonday1375 Рік тому +38

    The fact that they let him bail out of jail with other people's money that are losing every penny is crazy to me

  • @RaDeIRhd
    @RaDeIRhd Рік тому +953

    He was so generous, he gave away his customers money!

  • @michaelmarlow6610
    @michaelmarlow6610 Рік тому +489

    “Hey we have the money.”
    “We need to fundraise nearly the exact amount we owe people.”

    • @zimriel
      @zimriel Рік тому +29

      Shades of the savings-and-loan debacle in the late 1980s.
      "We invested in GOODWILL. We bailed out our buddies and if we have a problem they'll bail us out."
      No. No, they won't.

    • @thecoolestofthe834s2
      @thecoolestofthe834s2 7 місяців тому

      @@zimriel welll kind of never rely on another but dont go forsaking a hand on your back near a cliff but still watch the hand so it doesnt shove ya

  • @mikecohen2400
    @mikecohen2400 Рік тому +11

    As Will Rodgers once said, “I am more interested in the return of my money, then the return on my money”. These thieves belong in jail, the only question is why are they not under arrest???

  • @Nacalal
    @Nacalal Рік тому +196

    In her defense, "regular amphetamine use" constitutes the average ADHD prescription.

    • @magusperde365
      @magusperde365 Рік тому +23

      Yeah, this shit is saving my life

    • @Lantern_Light
      @Lantern_Light Рік тому +17

      Yes literally an adderal joke.

    • @jasontaemon8598
      @jasontaemon8598 Рік тому +9

      That’s a pretty funny way of wording it. I like it

    • @jochenkraus7016
      @jochenkraus7016 Рік тому +7

      The tweet at 15:43 doesn't sound to me like it was a medical necessity. But I'm not a native speaker so there might be a language barrier.

    • @MrMarinus18
      @MrMarinus18 Рік тому +8

      From the way she talked about it though it's pretty clear it's not like that.

  • @GerryRR
    @GerryRR Рік тому +621

    "I have the money, but not right now" is a weird way of saying "Someone else has the money, but I'm pretty sure I can get it from them".

    • @magmasunburst9331
      @magmasunburst9331 Рік тому +53

      "I had the money (which was yours), but I gambled it away and now I don't have it anymore."

    • @kazumakariama
      @kazumakariama Рік тому +4

      @@magmasunburst9331 slicker?

    • @darksu6947
      @darksu6947 Рік тому +8

      @@kazumakariama Lol. I can't believe all those people were stupid enough to give him that much money

    • @EvonyNinj
      @EvonyNinj Рік тому +22

      ​@@magmasunburst9331 AAAaaaaaaaand it's gone

    • @kailianglf2
      @kailianglf2 Рік тому +4

      the statement can be true, such as in the case of someone trying to use credit card at a cash-only store, or when someone goes out -of-town to shop but forgets to notify the bank to enable credit card usage.
      of course, that's not what's happening here.

  • @TheHatMan69
    @TheHatMan69 Рік тому +1248

    "I've never seen a CEO take accountability before." Wait, did this guy not remember when the man, the myth, the legend, Satoru Iwata cut his own pay in half to save his employees when he admitted his Wii U idea was a failure and took responsibility to prevent any layoffs????

    • @jasonpeng5798
      @jasonpeng5798 Рік тому +286

      yeah but thats japan where people actually have integrity

    • @TheHatMan69
      @TheHatMan69 Рік тому +200

      @@jasonpeng5798 not Sony lmao

    • @honkhonk8009
      @honkhonk8009 Рік тому +2

      We wont get those CEO's anymore, since Japan removed a bunch of restrictions on its stock market.

    • @schizo5189
      @schizo5189 Рік тому +4

      @@jasonpeng5798 Japan corporate literally drove people to suicide lmao. I do love out of touch weebs worshipping japan not knowing how fuck up most of their working conditions are

    • @aeoligarlic4024
      @aeoligarlic4024 Рік тому +73

      That guy isn't built like other CEOs

  • @jamesgoss1860
    @jamesgoss1860 Рік тому +16

    "Welcome to the future, it sucks here" No truer words were spoken.

  • @PapiBocaChula
    @PapiBocaChula Рік тому +11

    Usually when a person talks about how "Good of a person they are" the more likely they are not a good person.

  • @lolWillieP
    @lolWillieP Рік тому +617

    Reminds me of Enron using its own stock as collateral to hide its own debt

    • @Akutukananu
      @Akutukananu Рік тому +53

      Enrons lawyer is involved now trying to smooth things over and get these guys out of trouble. This is crazy!

    • @likemysnopp
      @likemysnopp Рік тому +6

      Not even close to the same thing.. its like saying "this reminds me of wirecard" or "this is just like theranos" only cuz its another fruad case..

    • @Aaa-wf6cg
      @Aaa-wf6cg Рік тому +45

      @@likemysnopp thats exactly what it is tho

    • @thegrumpydeveloper
      @thegrumpydeveloper Рік тому +17

      Read this as Elon instead of Enron and thought - probably accurate.

    • @cheeseburgermacpac607
      @cheeseburgermacpac607 Рік тому +2

      Probably had the same Enron on staff too.

  • @androtaz2621
    @androtaz2621 Рік тому +337

    It's not too hard to be generous when it's someone else's money.

    • @jucyboi
      @jucyboi Рік тому +17

      Guess what Sam Bankman-Fried's ethnicity is? 🤡 He's going to get away with it easy.

    • @westernbrumby
      @westernbrumby Рік тому +14

      @@jucyboi I think his political donations are what is going to save him not what slightly different version of the same story he believes in

    • @archimedes2261
      @archimedes2261 Рік тому

      Biden has been doing this since he got to office.

    • @TheLeftRbabieskillers
      @TheLeftRbabieskillers Рік тому +6

      Tell that to the democrats.

    • @rushrush6754
      @rushrush6754 Рік тому +5

      Scammers are always generous

  • @danhdang5998
    @danhdang5998 Рік тому +114

    I just can’t even breathe thinking how something like this can happen to people and how people can even do this to others. So sad. So much shame.

    • @friderification
      @friderification Рік тому

      I’m laughing because crypto and nfts are the dumbest thing to invest on it’s not real never will be and can and will tank as shown with either the currency or the website

    • @alejandrogn4
      @alejandrogn4 Рік тому +4

      I can't breathe from laughing at all these clowns

  • @CameronBrooks
    @CameronBrooks Рік тому +35

    It’s just so wild how all these famous people got on board with them.. it’s like Fyre Fest x 1,000

  • @AndroSpud
    @AndroSpud Рік тому +216

    "Oh look, we got hacked, all the money is gone"
    - CEO of exchange going insolvent.

    • @justeezy8569
      @justeezy8569 Рік тому +6

      More like
      “”- CEO of exchange going insolvent.

    • @GT-tj1qg
      @GT-tj1qg Рік тому +2

      They didn't get hacked though. They just wasted all the money.

    • @theeternalnow6506
      @theeternalnow6506 Рік тому +2

      "Whoopsie!"- SBF
      @G T you haven't been paying attention. The latest development is that they've been "hacked" and 600 million was transferred last night.

    • @deathlarsen7502
      @deathlarsen7502 Рік тому

      It's unhackable 😂

  • @bigman9490
    @bigman9490 Рік тому +2679

    This whole story is becoming the conversation between the optimist and pessimist. The pessimist says, "it can't any worse than this.", but the optimist replies, "Oh, yes it can."

    • @Kaebuki
      @Kaebuki Рік тому +175

      Wait, isn’t it the other way around?

    • @colinrussell2017
      @colinrussell2017 Рік тому +78

      @@Kaebuki Yes it is.

    • @ekki1993
      @ekki1993 Рік тому +141

      @@Kaebuki I like how it sounds this way though 😂

    • @keef920
      @keef920 Рік тому +2

      Bahahaha

    • @ladyj.9350
      @ladyj.9350 Рік тому +13

      Or rather, P: this is the worst case scenario. O: no it’s not

  • @hitsov
    @hitsov Рік тому +8

    He got greedy, wanted to tint his Toyota

  • @Fatkidlovecake
    @Fatkidlovecake Рік тому +15

    As soon as I stopped being such a greedy person I gravitated toward coffeezillas videos. Dudes a good guy

  • @PeacockRhino
    @PeacockRhino Рік тому +172

    Bankman-Fried has to be the best name at the heart of any financial scandal I've seen!

  • @yute-hube779
    @yute-hube779 Рік тому +363

    13:29 _​"Isn't it awfully convenient that you're suddenly bad at your job, when it would be criminal if you actually knew?"_ - this is exactly the sort of thing the prosecution is going to throw at him. There is no possible way he can get away with this.

    • @Noctah
      @Noctah Рік тому +30

      Objection. Speculation.

    • @sykesdenali2
      @sykesdenali2 Рік тому +21

      Several US politicians have escaped prosecution with that exact claim.

    • @oasntet
      @oasntet Рік тому +5

      Especially when it seems likely that Sam, Gary and the director of engineering fled the country together and are sorta-kinda arrested in the Bahamas...

    • @yute-hube779
      @yute-hube779 Рік тому

      @@sykesdenali2 They can get away with it. This FTX dude was "a genius".

    • @IamGrimalkin
      @IamGrimalkin Рік тому +4

      @@sykesdenali2
      But he may end up getting prosecuted in the Bahamas, not the US.
      Ever since this crisis came out people have been making jokes/sarcastic comments about the Bahamas and shady organisations.
      The Bahamas government is going to HATE that, it's not exactly a good look now the country.
      They are going the hammer him as hard as they can in the courts to try to regain their countries credibility.

  • @DAxBatres
    @DAxBatres 10 місяців тому +2

    “Welcome to the future, IT SUCKS HERE”

  • @Blackazza
    @Blackazza Рік тому +31

    not into finances/crypto or whatever BUT this subject had caught my interest and i jumped into the YT rabbit hole and i have to say out of all the stuff i have watched you have covered this shitstorm better than anyone including multi million dollar international media organisations! like your unbiased factual approach and the way you admit when you don't know something to be 100% factual.
    liked & subscribed👍

    • @garbearfar1394
      @garbearfar1394 Рік тому

      I mean the big MSMs are owned by FTXs biggest benefactors so they aren’t gonna say anything lmfao. The trial will come and go and this will be swept under the rug no one of any importance will be punished sadly.

  • @AbiNephilim
    @AbiNephilim Рік тому +442

    This is so much more intense than I thought it was, coding a 'back-door' into financial reporting of your own company is the most sus thing I've ever heard anyone at a company do, holy crap

    • @infn
      @infn Рік тому

      It's commonly found in companies where some form of tax evasion, money laundering, fraud and/or embezzlement has happened. And there are also more crooked companies than comes to light.

    • @benstr8156
      @benstr8156 Рік тому +23

      SBF: It's my platform. I get to put in whatever *feature* I desire.

    • @ShorlanTanzo
      @ShorlanTanzo Рік тому +19

      With that in mind, there's no chance that regulators would have prevented most of this mess from happening anyway.

    • @hb1338
      @hb1338 Рік тому +19

      I was told by a very credible source that such a back door exists at Disney's holding company. Money moves instantly and undetected between trading companies in order to improve the financial position of whichever company is currently under examination.

    • @benstr8156
      @benstr8156 Рік тому +6

      @@hb1338 There's a backdoor in Windows 10 OS.
      Try log in: back$door
      psw: OpenSaysMe

  • @saberstrikez
    @saberstrikez Рік тому +219

    This why you never take sponsorships or financial advice from YT or influencers. It’s in their interest not yours. Due diligence always

    • @rodrigorodriguez509
      @rodrigorodriguez509 Рік тому +3

      I'm a CPA. When people don't listen to my basics about crypto, I tell them to ask their dad

  • @BlackFlightNY
    @BlackFlightNY Рік тому +3

    Just as a mini update: I heard in the news yesterday that 5 of the senators who voted against a govt probe of FTX actually had received donations from FTX!!🤔🤨

  • @musaplusplus
    @musaplusplus Рік тому +16

    Honestly watching silicon valley may be the best thing to do before starting a tech company

  • @austincole
    @austincole Рік тому +1460

    Coffee you're the only one tracking this stuff at such a high quality. Thank you! He ought to go to prison.

    • @randoir1863
      @randoir1863 Рік тому

      Did anyone who caused or was involved in the 2008 financial crisis goto jail? What he's done /doing is quasi legal as crypto is UNREGULATED and is not under the purview of the SEC , FTC or any other government body !!! Don't hold your breath on ever seeing this guy ever again!!!!

    • @NathanHedglin
      @NathanHedglin Рік тому +26

      Patrick Boyle has a finance background and covers it really well too

    • @StephenGillie
      @StephenGillie Рік тому +20

      @@NathanHedglin He covered the wood nymph angle quite thoroughly.

    • @anamethattellsastory6648
      @anamethattellsastory6648 Рік тому

      Ignorance is bliss and it's also cute you only watch coffezilla to say something like this. Do you own research and don't comment something that'll come back and bite.

    • @jasonarpy
      @jasonarpy Рік тому +2

      So should the people that have ran the FED since it's inception.

  • @StoneMountain64
    @StoneMountain64 Рік тому +1417

    Coffee videos go hard man!

    • @Joemamahahahaha821
      @Joemamahahahaha821 Рік тому +45

      Just got intel from HQ eta five minutes to bed time boys let’s wrap it up

    • @ThePWNDR
      @ThePWNDR Рік тому +11

      Stone Mountain loved ur vids since I was a wee lad

    • @AkuaWalters
      @AkuaWalters Рік тому +9

      Holy shit! it's Stone!

    • @melazmusic
      @melazmusic Рік тому +2

      frfr ong

    • @cs1458
      @cs1458 Рік тому +2

      Almost as hard as I go after my morning coffee w/ Coffeezilla 💩

  • @jmanj3917
    @jmanj3917 Рік тому +6

    15:39 *YIKES!* Imagine That coming at you, high on crank, demanding some Smush-Smush...lololol

  • @YutubeBansALot
    @YutubeBansALot Рік тому +2

    Politicians ruin everything

  • @omm01
    @omm01 Рік тому +728

    The industry: "This cant get any worse!"
    The narrator: "...And then it got worse."

    • @jonathanj8303
      @jonathanj8303 Рік тому

      Crypto bankruptcies are basically like russian history, except people are stupid enough to do it voluntarily.

    • @hienchi2565
      @hienchi2565 Рік тому +8

      I can hear Peter Dinklage's voice in that :)))

    • @tedkaczynskiamericanhero3916
      @tedkaczynskiamericanhero3916 Рік тому +4

      "How could this possibly get worse?"
      *That's when he knew, he fucked up*

    • @chrisgenovese8188
      @chrisgenovese8188 Рік тому +7

      I heard that in Morgan Freemans voice. It takes some of the sting out.

    • @James-vj5hz
      @James-vj5hz Рік тому +1

      Bitcoin maximalists are loving this. They're vindicated. Hold your own keys.

  • @Halbmond
    @Halbmond Рік тому +79

    I’ve seen the “I’ve been hacked just now!” excuse from people posting nudes or slurs on social media, but never from multi-billionaires owning financial market makers

  • @noahway13
    @noahway13 Рік тому +18

    Great reporting. Honest about facts. The biggest fault the masses have, is not being able to separate what they KNOW, from what they BELIEVE

  • @eliasjabbour31337
    @eliasjabbour31337 Рік тому +3

    "welcome to the future, it sucks here" pretty much sums everything up very nicely

  • @makarhunter
    @makarhunter Рік тому +453

    That's insane that the criminal CEO can casually flee to another company while this all is happening. Such allegations (especially while filing bankrupcy) should put the CEO at travel restriction to see if he is found to be guilty of fraud.

    • @1paris1942
      @1paris1942 Рік тому +69

      Unfortunately, he has to be arrested and charged first; only a judge can order your passport taken and restrict your movements. But as we all know, U.S. Law enforcement has looooong reach. Like what they did to the FIFA directors in 2015 while they were having meetings in Zurich.

    • @davissonxu1078
      @davissonxu1078 Рік тому +36

      Argentina has an extradition treaty with the US

    • @ayajade6683
      @ayajade6683 Рік тому

      These types are also the types to get fake passports to flee or find a country willing to help them flee

    • @fernvill27
      @fernvill27 Рік тому

      He's the second biggest donor to the democrats. It's possible that he'll get away with it.

    • @GrabTheSwitchMike
      @GrabTheSwitchMike Рік тому +26

      That's why he left when he did. Before any restrictions or penalities ever could manifest

  • @FlameOfRoyeca
    @FlameOfRoyeca Рік тому +73

    "Was all this legal? Absolutely f**king not"
    - the wolf of wall street

    • @foobarFR
      @foobarFR Рік тому +5

      At his point Jordan Belfort looks legit, relatively speaking.

  • @adamtroup785
    @adamtroup785 Рік тому +14

    When he literally described what fox did in front of congress I was geeking

  • @lolimrob
    @lolimrob Рік тому +4

    9:12 Referring to it as an Incestuous Relationship really got me LMAO

  • @ameyjoshi938
    @ameyjoshi938 Рік тому +358

    There is a reason why UA-camrs are starting to get paid the real BIG BUCKS. The amount of effort and research power that goes in videos like this is legendary. More power to you my man.

    • @samsonsoturian6013
      @samsonsoturian6013 Рік тому +41

      Coffee is essentially an crime reporter now.

    • @syrozzz
      @syrozzz Рік тому +22

      That and shady sponsorships.

    • @rdean150
      @rdean150 Рік тому +8

      Lol does checking your Twitter feed on the couch count as "research power"? Thank Bloomberg and Forbes and the other journalists who have... umm... ya know... better Twitter feeds? Ok I give up you may be right.

    • @mikatu
      @mikatu Рік тому +2

      No, that is not true. Coffee might be good in his job, most youtubers are just useless.

    • @omnientertainment5852
      @omnientertainment5852 Рік тому

      Not just UA-camrs but sport arenas and pro athletes

  • @conspiracyman8353
    @conspiracyman8353 Рік тому +427

    SBF was worth billions and gave it all away. He really is the most generous man in the world

    • @farhanatashiga3721
      @farhanatashiga3721 Рік тому

      Gave it all away to a pension fund in Argentina and a mansion next to that of grandkids of Nazis

    • @henrim9348
      @henrim9348 Рік тому +9

      Wasn't his money he gave away. It was OPM without their consent.

    • @julie91295
      @julie91295 Рік тому +34

      @@henrim9348 *whoosh*

    • @theguardintemriel
      @theguardintemriel Рік тому +10

      even making the donation on behalf of the funds owner, truly a generous guy

    • @lasskinn474
      @lasskinn474 Рік тому +7

      Look if you have a random youtuber with a random cryptobro saying he is the most generous billionaire in the world, that should be a red flag. No matter if blackrock loaned(invested) him money or whatever.

  • @LegendaryDorkKnight
    @LegendaryDorkKnight Рік тому +2

    I will never not laugh at cryptobros getting scammed on the "super secure, ultra transparent" block chain.

  • @melimsah
    @melimsah 10 місяців тому +1

    "Welcome to the future! It sucks here!" Truest words never spoken

  • @Spitfiren
    @Spitfiren Рік тому +57

    The 'hack' is 100% an inside job. Even if their codebase got hacked, the hacker would also need to have access to their Apple & Google accounts in order to push the update in the app stores. I'd imagine only a number of people would have access to those e.g. SBF, CTO and other technical people very high up on the chain

  • @twotails
    @twotails Рік тому +633

    Seeing Coffee going from 2020 to 2022 is just so inspiring

    • @Sampsonoff
      @Sampsonoff Рік тому +15

      I invested in coffee on the ground floor ☕️ 🌝

    • @amberhernandez
      @amberhernandez Рік тому +18

      Props to those who were here before the beard

    • @Wa7edmenalnass
      @Wa7edmenalnass Рік тому +14

      Started watching in 2019 the expose of dan lok. So proud of him.

    • @EmperorDionx
      @EmperorDionx Рік тому +12

      @@Wa7edmenalnass I was watching coffee in 1904, get on my level noob

    • @mikewilliams592
      @mikewilliams592 Рік тому +21

      @@EmperorDionx Watching him expose tulip mania as early as 1636 and withstanding all the accusations of 'fud' only to be proven right was impressive. I've been a fan ever since.

  • @ProdCan
    @ProdCan Рік тому +41

    Don’t expect someone to take care of their business if they can’t even take care of themselves.

  • @scott_9135
    @scott_9135 Рік тому +23

    When I see fraud I always see then explain what they are doing as if someone else is doing it. A lot of time that's the angle they use when trying to get people to go along with them. They explain a scam they have a lot of knowledge about and how the method they use is different and that's when they start using words to make it seem like they are on the side of the people they want to take advantage of.

  • @Jermunkle
    @Jermunkle Рік тому +126

    Seems quite likely that this supposed "hack" was part of a pre-planned rug-pull style exit strategy that SBF had built into the system along with the backdoor.

    • @mikatu
      @mikatu Рік тому +1

      Do you even know what a rug-pull is? This has nothing to do with such thing. This was a normal "hack scam" situation. We saw this time and time again with other exchanges and projects. Some were even done by white hats.
      The rug pull is just pumping up an asset and afterwards removing the liquidity and running away.

    • @lasskinn474
      @lasskinn474 Рік тому +2

      Backdoor aka admin access.

    • @justeezy8569
      @justeezy8569 Рік тому

      Sad part is all of the money won’t be gathered. It’s just going to wisp away into thin air.

    • @justeezy8569
      @justeezy8569 Рік тому

      Even if he is arrested and everyone else found guilty as well. Still not gonna be fully gathered

    • @nighttrain1236
      @nighttrain1236 Рік тому

      LMAO, he built in his own 'fail safe'.

  • @claytonreid996
    @claytonreid996 Рік тому +484

    Just saw Spencer's video on this whole situation and Coffee's resulting comment. Pretty disappointed in Spence, feels like his POV is a bit of coping that some of his friends made a decision around promotion. Appreciating how consistent Coffee is when holding people accountable. Still undefeated.

    • @chickenlittle5095
      @chickenlittle5095 Рік тому +113

      Spencer seems a little to close to this issue in regards to his ‘friends’ being involved. He doesn’t want to burn them bridges or criticise his mates, regardless on how bad it reflects on his credibility. Lie with dogs, get fleas.

    • @FATmenDRIVEtrucks
      @FATmenDRIVEtrucks Рік тому +58

      He's just D riding his social media pals. Doesn't wanna piss them off

    • @Bt26x
      @Bt26x Рік тому +53

      That’s funny, because those same pals are D riding him so he won’t expose them! 😂

    • @bigsanrio
      @bigsanrio Рік тому +32

      Spencer would of definitely promoted FTX/Alameda if offered a sponsorship!

    • @lillyie
      @lillyie Рік тому +52

      its expected from a guy that claims to be exposing fake gurus and scammers yet promotes established titles

  • @Kharsh0
    @Kharsh0 Рік тому +4

    Have been following this series. Such a great job you’ve done on this serjesz

  • @Fancysand
    @Fancysand Рік тому +2

    "WELCOME TO THE FUTURE, IT SUCKS HERE"
    more true words have never been spoken

  • @arguekayes
    @arguekayes Рік тому +27

    Crypto has a long track record of stuff like this happening then the CEO ends up faking their death while millions suddenly disappear. Wonder if that’ll happen here.

    • @nox5555
      @nox5555 Рік тому

      unlikely, the CEO is a swampspawn and pumped alot of the stolen money into the DNC...

    • @James-vj5hz
      @James-vj5hz Рік тому

      Yeah. Anyone losing their money in this is a moron. Not your keys, not your Bitcoin.
      Good riddance.

    • @padraig5335
      @padraig5335 Рік тому +1

      He can just go to Israel

    • @michaelstollairetbarceo3287
      @michaelstollairetbarceo3287 Рік тому

      That's not crypto. That's scum running exchanges.

  • @772364327rhdhqwag
    @772364327rhdhqwag Рік тому +117

    It's actually incredible that so many people are only now discovering lying...

    • @darksu6947
      @darksu6947 Рік тому +17

      It's fascinating that people are so stupid, and also hilarious.

    • @ekki1993
      @ekki1993 Рік тому +24

      Cryptobros get blinded by the shiny new tech and forget about how real life economy works.

    • @agentsnorlson7913
      @agentsnorlson7913 Рік тому +2

      It's OK, Spencer Cornelia will be by to defend them....
      Provided they're his friends and associates.

    • @patienceobongo
      @patienceobongo Рік тому +2

      They never heard of the Talmud

    • @772364327rhdhqwag
      @772364327rhdhqwag Рік тому +3

      @@agentsnorlson7913 I thought he was busy defending Andrew Tates Hustler University totally legitimate multi level affiliate marketing

  • @HardFlip310
    @HardFlip310 Рік тому +2

    The hacker was SBF himself l, it's like a Scooby-Doo episode

  • @ChristopherTucker138
    @ChristopherTucker138 Рік тому +5

    My homeboy just hipped me to your channel. Immediate subscribe.

  • @acquiredfilms5400
    @acquiredfilms5400 Рік тому +367

    I only just started watching this guy but the fact that he has every reason to be smug right now and chooses to just present the facts honestly makes me like him.

    • @metalninja2474
      @metalninja2474 Рік тому +10

      If you like this then check out the Save the Kids videos he did with Mutahar (Some Ordinary Gamers).

    • @ggundercover3681
      @ggundercover3681 Рік тому +5

      @@metalninja2474 this is how I found this man and damn that was a banging series

    • @Dave_Kerman
      @Dave_Kerman Рік тому +1

      I also recommend Roobet house of cards

    • @Maverekt
      @Maverekt Рік тому

      @@Dave_Kerman oh yeah, tons of bangers

  • @sepsmusic
    @sepsmusic Рік тому +49

    Gotta love how SBF's tweet is structured exactly like an "I'm fine. Everything is fine." meme

    • @frevazz3364
      @frevazz3364 Рік тому +7

      "I'm fine...hey do you like have $10B you can lend me..and like right away..."

  • @CharleyHale
    @CharleyHale 10 місяців тому +1

    Scammers became the new bankers but even worse without regulations

  • @AtotehZ
    @AtotehZ 10 місяців тому +1

    Ignorance of the law does not absolve you of guilt when it comes to the law. Even if he didn't know he would and did still go to prison.

  • @abdou.the.heretic
    @abdou.the.heretic Рік тому +173

    Okay, I am more convinced of stuffing physical money under my bed.

    • @diestormlie
      @diestormlie Рік тому +25

      Pfff. Under the bed? Amateur. I just stuff my mattress with the money.

    • @abdou.the.heretic
      @abdou.the.heretic Рік тому +23

      @@diestormlie rookie, a ripped mattress has less value XD

    • @felicityhoneycutt8570
      @felicityhoneycutt8570 Рік тому +18

      Fools, i have filled my airmatress with the real gold wilst hiding fake bars under my "bed" bed.

    • @MistaTofMaine
      @MistaTofMaine Рік тому +21

      @@felicityhoneycutt8570 I just fill my pillows with half feathers and half gold bullion. It isn't very comfortable, but will give you something to think about before you go to bed.

    • @Mister_Durden
      @Mister_Durden Рік тому +3

      Guns silver real estate tesla stock First Majectic silver stock all good investments

  • @XIIchiron78
    @XIIchiron78 Рік тому +61

    This guy really saw the 2008 collapse and said "hey, I want a piece of that mess"

    • @Iudicatio
      @Iudicatio Рік тому

      LMAO, he wanted a piece of the collapses of the late 1800s (which were far worse than 2008 because there was almost no regulation at that time).

    • @idontcare9041
      @idontcare9041 Рік тому +1

      Yeah. I'm kinda thankful that I didn't enter crypto now. I didn't understand why regulations were necessary at the time.

  • @timw4369
    @timw4369 Рік тому +64

    I was right all along crypto is like buying a pet rock

    • @paulatmuniz
      @paulatmuniz Рік тому +16

      It's like buying a star 🤣🤣🤣

    • @uhm175
      @uhm175 Рік тому +5

      Even buying a pet rock is quite more fun & more useful
      anyone who invest in crypto is dumbfunded

    • @Real_Lion_of_Judah
      @Real_Lion_of_Judah Рік тому

      The value of crypto fluctuates a lot due to speculation. This case is about a fraudulent crypto *exchange*. This wasn't even a "rug pull" (pump and dumb scheme); it was just outright fraud/theft.

    • @tadgh6989
      @tadgh6989 Рік тому +13

      Atleast you own the pet rock

    • @jeffbrownstain
      @jeffbrownstain Рік тому +2

      No you weren't.

  • @sarahmhx
    @sarahmhx Рік тому +276

    I feel like Coffee deserves his own series on Netflix.

  • @PixelStacker
    @PixelStacker Рік тому +74

    Just saying “I’m sorry” isn’t the same thing as being accountable absolutely

  • @dr_workaholic
    @dr_workaholic 9 місяців тому +1

    Well the problem here is people trust the word of a CEO without any proof.

  • @celticcraps
    @celticcraps Рік тому +4

    That guy knew all along what he was doing. He figured out the Banks got away with it in 2008 and did it in an even more complicated manner. It just caught up to him. It will be interesting to see if they can ever recover the funds stolen and whether or not he goes to jail. I'm sure he figured if the bankers got away with it, he can too

  • @samsonsoturian6013
    @samsonsoturian6013 Рік тому +75

    “In retrospect, the currency backed by memes was bound to be less stable than the one backed by aircraft carriers.”
    -Anonymous

    • @adambreezy251
      @adambreezy251 Рік тому

      Anonymous are scammers.. They've made alot of crypto currency tokens scamming people. Heck I invested into one of them 😅 they shouldn't be talking

  • @KazuhiraMiller46
    @KazuhiraMiller46 Рік тому +104

    Listening to someone lecture people on finance when they deal in vapor ware and have their exchange "hacked" is laughable at best

    • @id10t98
      @id10t98 Рік тому

      One minute of listening to that imbecile Caroline would have told me all I need to know to stay as far away from these clowns as possible.

  • @AnnaFed015
    @AnnaFed015 Рік тому +313

    I invest with Amanda Moore Hinton. She's the best when it comes to making high profits in the financial market, she's well accredited and proficient to help you through managing your investments.

    • @Windarti30
      @Windarti30 Рік тому

      I began building up my Portfolio when I started following up my investment properly,

    • @stanleyzac1648
      @stanleyzac1648 Рік тому

      Having the requisite strategy to pull off profit in this market is one thing and having access to the exclusive market information is that isn't disclosed to the public is another, that's why the pros are killing it this period.

    • @charlottedale1111
      @charlottedale1111 Рік тому

      @Nancy Abeyta

    • @AnnaFed015
      @AnnaFed015 Рік тому

      _I was also able to recover my losses, with Amanda Moore's trading services, it was very easy compared to other signals I have used in the past.

    • @haydar378
      @haydar378 Рік тому +5

      She’s scammer

  • @cvp5882
    @cvp5882 Рік тому +1

    This dumpster fire has Wolf of Wall Street looking like Big Bird of Sesame Street.

  • @josemucarselsacoto5122
    @josemucarselsacoto5122 Рік тому +97

    Next up. Spencer Cornelia saying it's no one's fault. 😂

  • @zizzyballuba4373
    @zizzyballuba4373 Рік тому +5

    Kanye was right about them.

  • @_hyperdime_
    @_hyperdime_ Рік тому +2

    "Welcome to the future, it sucks here."
    Zilla quote of the year.

  • @spacepanda420
    @spacepanda420 Рік тому

    UGH I LOVE YOUR CONTENT BRUDDAH!!!❤️‍🔥❤️‍🔥❤️‍🔥

  • @Zechariah_Mathieson1871
    @Zechariah_Mathieson1871 Рік тому +16

    1:13 "Flights to Argentina", sounds like some other people, after the 40's

    • @ryngoslyng7629
      @ryngoslyng7629 Рік тому +1

      FTX is entirely Jewish

    • @mikhaildas
      @mikhaildas Рік тому

      First, we have extradition treaty with US. Second, those guys from the 40s went not only to Argentina they went all over South America with German comunitys connections that come before 1900, and they hide (we had the third population of jewish in the continten and 5 in the world) we didn´t put them to work on high positions like Wernher von Braun in NASA.I know you like to take your history facts from television shows and internet, but i would do a little bit more of research about the matter. Third and most important we are not the ones with white supremacists and more than 900 neonazis groups walking proudly in some parts of your country and definetly not the ones creating bubbles that fuck the econmy of people in the entire world.

  • @dulisha
    @dulisha Рік тому +27

    1 billion dollar studio right there

  • @Flakester
    @Flakester Рік тому +8

    Let this be a lesson. If someone comes out and says, "everything is fine", get out immediately because everything is NOT fine.

    • @patriciavandevelde5469
      @patriciavandevelde5469 Рік тому

      That s what my ex lawyer told me to! My sicilian mother in law bribed him in Belgium

  • @jalomount
    @jalomount Рік тому +2

    Guess you could call him Mr fried Bankman now

  • @urbanlumberjack
    @urbanlumberjack Рік тому +207

    Amazing. These videos are better than anything mainstream media is putting out. Keep up the good work

    • @likemysnopp
      @likemysnopp Рік тому

      Not really.. its just a little bit different but still same information

    • @masonwright7700
      @masonwright7700 Рік тому

      @@likemysnopp the media is trash

  • @dadthemanthemyththelegend3348
    @dadthemanthemyththelegend3348 Рік тому +24

    Human behavior NEVER changes