Investor who lost $1.3M during FTX collapse: 'Chance of getting money back is zero'
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- Опубліковано 26 гру 2022
- Calvin Tsai, a crypto investor who lost $1.3 million during the FTX collapse, discusses why he hasn't shied away from investing in cryptocurrency.
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If I stole 10,000$ from an employer, I’d go to jail and not get bail. FTX steals 30 billion and gets bailed to his moms house. 😂
Well then steal big like sam bankman fried
Its probably because you didn’t donate $10k to the Biden administration like SBF 😆
he didnt even need to pay the bail because of his political connections.
"All animals are equal, but some animals are more equal than others." Animal Farm. Lol
Innocent until proven guilty for yourself and $10k and for Fried and his..... well for a start it's not $30 billion now is it?
So the real problem is all these dogs baying for blood without knowing the facts. Trial by UA-cam... pathetic.
His money was STOLEN not lost by poor management!! Huge difference!!! Quit acting like he should have known better. NO ONE KNEW BETTER!! IT WAS STOLEN!!!
Stupidity is not a crime otherwise you could be facing jail for your comment.
@@philcliffe6909 Bankman Fraud and FTX most certainly stole many people's money... who is stupid here? Is your reading comprehension so bad?
@@joshuatucker2521 Trial by UA-cam, you're pathetic. The same media you follow is the same media you castigated during Covid for spreading lies. Wait for the trial before making judgements you know nothing about.... and don't like your own comment it's also pathetic.
@@joshuatucker2521 People lost lots of money all over crypto with nothing to do with FTX, you dickhead, do you not suppose the media is maybe focussing on one individual and moron's like you are just lapping it up like, "eh let me think now", oh yes 'SHEEP'
It’s incredible how a kid his age was completely ripped off for 1.3 million and he shook it off as a lose. God bless you kid I would like to know what your buying so I can jump on board.
This is because that 1.3 million is not "his" money but his profit.
He is either a paid shill or an absolute moron. You decide for yourself. I lean towards the former.
Dude is chinese or something. There are a lot of rich chinese people. 1.3 Million is pocket money for them. Like holyday budget.
Daddy's money
It's not that much for a trader like him, every trader is aware of that money on the market is potenitally lost money. Ironically, I feel like the world outside of profitable trading community worships money. As they slave for it. While few people actually have the money working for them.
The real story is that Sam Trabucco retired and liquidated his FTX holdings just a few months before FTX crashed. His whereabouts are unknown. He outsmarted everyone.
They are looking for him
Why is it illegal to take money if the money is yours?
Dang did they steal the books off his shelf?
Lol
Got margin called. Had his books repoed.
Books are for boomers
a lot of that 1.3 is just the rise on his investment, not what he actually ever invested
Wasn't market already down upto 70% since 2022 before the ftx issue?
He obviously has got more than enough money to lose.
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@Florenceosborn
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Well I am sorry but I think it’s a stupid idea to buy fake money in hopes that one day everyone will accept it as real money is kinda pointless and stupid
It's stupid and it helps out bad forces in the world. Crypto is used in war and by a ton of criminals to get funding or launder money
Yeah, just like the fiat currency system we have now.
The Fiat is back by government and you have to pay your taxes with us dollars.
BTC is doing just fine especially if you bought at the bottom like I did LMAOOO have fun with your cash as it constantly devalues every five seconds.
This is what happens when kids think they know the market. Worst part is the trust kids with thier money lol.
Hello Mrs Katerina the bitcoin trader is legit and her method works like magic I keep on earning every single week with her new strategies....
Wow I' m just shock someone mentioned expert Mrs Katerina I thought I'm the only one trading with her She helped me recover what I lost trying to trade my self
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Katerina . I think that she is the best broker I ever seen
Can I invest from Australia
Hello 👋
How favourable is the market now . I want to invest in cryptocurrency
Can I start with $3000
seeking for her contact details👇
This is why I am so risk adverse! I am way too cynical of people to hand them my money in some “promise” of bigger returns! 🤣🤣🤣🤣
Good for you.
There's an old saying in Floy-over country, "If it's to good to be true, than it is probably corrupt". The shoe seems to fit.
This guy trusted a graphic designer (Ms. Ellison) with over a million dollars. Genius
To all the millionaires who lost millions
You'll find my sympathy in the dictionary between s*** and syphilis
They should change the laws so that account holders get their money first instead of the shareholders i think this would help deter corruption
Hey Calvin, I got these Magic Beans. A fool and their money, Crypto is not real Money, the stores and others dont take it. Yes you could make a profit, Can you say Ponzi
This is so sad!!
The money went somewhere, and must be returned.
It went to Political donations, Alameda gamble investments that failed, and FTX executives.
Nope he invested in a scam.
The hand is quicker than the eye.
It was never really there.
You just don't get it.
it was a scam.
@@1800cc-Dead-Meat You think money just vanishes when you no longer have it in your domain? That is foolish.
@@anonanon2031 Anybody that invested in FTX was a fool. "A fool and his money are soon parted"
If the authorities handled this the way they do a homicide, the results would be quicker. Moreover there are third parties that are not cooperating or volunteering information readily.
Unfortunately, it's not gonna happen, but we need to start, "rubber hosing" these people again? Yeah, I said that.
Calvin is a beast!! Mad respect. BTFD HODL
I want to invest in the chips lol
"Give me your money. Then I'll get other people to give me THEIR money so I can pay you more than you gave me." Ponzi 101
It’s like being in a card game or Las Vegas , knowing when to quit and get out
Well, in the immortal words of Gordon Gecco : A fool and his money are lucky to get together in the first place.
When will they stop calling them “investors”?
These are not actual losses. There were paper losses of crypto that ran up. Certainly he never put a million in cash into that exchange.
I admire his courage
you should discourage his stupidity then. crypto is going to broke thousands if not millions of peoples money in th enext years until it completly goes close to 0.
I admire his stupidity
Well. Looking at the bitcoin prices now I won't say that@@SincereSentinel
@@SincereSentinelHe lost what he invested, which I very highly doubt was millions, probably more like peanuts.
@@lordfarquard9902 The title itself says he lost the right to a once available 1.3 million dollars. He might have only invested 15-60 thousand dollars to accrue what would have been the 1.3 million owed to him. I wouldn't know what his finances are outside of this situation, but he doesn't scream 'multi-millionaire' to me, so I'd imagine he views the investment/loss as far more than mere peanuts.
well it's like where else do you invest? everything is imploding. Unless you're the cartels of course.
This is how a bull market ends. Now we have to go depper until some breakthrough happens that ends this bear market and we don't seem to be anywhere close to that yet.
The bear market will end when the big boys decide to end it.
Chasing crypto wealth is like driving your car down a winding road in the dark of night hoping you won’t have a accident
...in the snow
Without lights and breaks!
y’all just be adding on top
Of each other 🤣🤣
@Eric Anderson Crypto coins is not the freaking internet. But there's potential with the Blockchain.
"Crypto" is way to general. If he had Bitcoin nine months ago at the time of the interview, then it nearly doubled since then.
He nailed it… perfect time to buy for the “smart buyer”
Thank you for your full support on the job instead of focusing on proving yourself to others. You always tried harder to be better *Belingorecoup* and now your success speaks out louder. Thank you for a hard work. I’m sure it was worth it all. There is no doubt that you are the most deserving of all that should be given a shout out.
He's like, yeah, I'm never going to get my money back.
But keeps investing in the manipulative scheme anyway.
Yeah and the reporter says good luck sarcastically to further humiliate him.
@@jazziez6467 yeah. And even after the loss he probably has 10 times more money than the newscaster has. There is that to consider. Hmmm.
@@jazziez6467 at half his age.
also "it is a good time to invest more" yea sure good luck buddy
Did he lose $1.3M that he deposited into FTX or was that the valuation of his crypto assets at the peak? 100% loss isn't fun but if most of it was over-inflated value, perhaps it stings a little less.
he is worth a hundred million. He netted over 90M USD profit over 4 years. Losing 1.5M is no big deal
I keep reading the words investor and investing and invest here in the comments section and in the title of this video. That is the whole problem here. There was no investment at all. He was a speculator who gambled his money away. It's that simple. When you speculate and gamble on something you often lose. Crypto isn't regulated, it doesn't produce anything of value, and there is zero audited financial disclosure. It's gambling, plain and simple. You gamble you lose, move on.
Ok, see you in the bull market.
he didnt gamble all his money. the 1.3m lost was profit made. he still made profit from initial investment. crypto will go up again. its like any market. only its drops are good for investers
SBF got zero of my money!
Ftx should provide the names of all the politicians and businesses they gave money to
Blue States for sure. Illinois politicians was full of FTX money @midterm. Sam's bro is a crook also
What do they say about a fool and his money...?
They say "Michael White".
I wonder how much he invested, I don't think he invested 1.3 billion
I don’t feel sorry for Calvin. He had that much money to invest? Serves him right for jumping on the gravy train.
You’re mad that somebody has money? Lol
Again. What is he doing to get $1.3 million? This is bad, only ones that will get hurt are average America. Hoping someone does background checks on the contributors.
I have sympathy with his situation. But that is what happens when you take real money and invest it in fantasy money. When are these people gonna learn.
Buy a ledger geez
And ten months later, he's came back swinging
Sum Ting Wong
LOL
Wi tu lo
Dang, he could of sent two kids to college with that money.
This entire industry wasn’t built on real work .. seems like a scam altogether
He just asked us to zoom out the bitcoin price chart 😂
2010 he still studying
You need confidence to be able to sell fake money..better just to play Monopoly 😁
Never invest in a company that has no Board of Directors that should’ve been a huge red flag
So he bought all his crypto stock back in 2010?
Which country is he from? His parents must be proud
If you help me get into my 2020 account I'll split 70/30?
good luck on your 10% to 20% haircut, didnt the new CEO just declared that all assets as missing?
SBF is in Palo Alto in a $250000000 house......... His parents were part of ftx.........
If you invest in Vapour Asset like Crypto, be prepared for evaporation of the perceived asset.
Don’t invest in thin air!
There seems to be a disproportionate number of Chinese top dogs cryptonames in crypto. Gary Wang name is actually Zixiao Wang. CZ is Changpeng Zhao ... Hmmm ...
BTW what is "calvin's" REAL name.?
I bet it was not initial investment wasn’t $1.2M it was that at the hieight
He don’t even know
This is a perfect example of why nobody should buy crypto from an offshore exchange with no history. FTX is based in the Bahamas.
Was
There seems to be a disproportionate number of Chinese top dogs cryptonames in crypto. Gary Wang name is actually Zixiao Wang. CZ is Changpeng Zhao ... Hmmm ...
There's a sucker born every minute.
i already put all
of my coins in a ledger wallet no waste anymore time , exchanges are in wild west mode
No offense. But,this is why I would never invest in anything so stupid... If, it smells like a skunk, looks like a skunk, it's a skunk (scam)
I can help you. I have magic beans for sale and they can make more money than you ever dreamed of.
Hes addicted. Like gambling
Your money is in Ukraine now. (Not serious btw. Just a joke)
smart guy, he was buying btc and eth at bottom, right now he is loaded.
What about Scam Bankrupt-Fraud's parents?
This guy gets a loss while the person at fault gets a movie scripted about his exploits.
What kind of BACKING has ever been behind Bitcoin ? What kind of Insects in your wallet ?
Investing crypto is a great summarization for the millennial generation... They think they are are special and it takes talent, but in all honesty it doesn't... The potential rewards look pleasant on paper, but beneath the surface like most young ppl today you will find there is nothing great there... You can hit a brick wall any second... I use the comparison to the millennial generation because if you look at the top musicians/social media influencers, stars in general under the age of 35 it seems great from the outside but beneath it all there is no talent.
Hard to learn the lesson. Good lucky!
Idiots who make their money from buying into bubbles driven by other idiots end up loosing it.
Invest on people...not on money
What makes this even worse is that he thinks he lost his investment due to market fluctuation when in fact his crypto was stolen...
Stack gold, silver and lead....
Was this kid used for others to capitolize off of
He's like 10
Maxine already spent the money.
Nobody learned from MtGox
It’s his faults for not going to Binance.
Bullish long term because "Bitcoin was still up 1000% since 2010"..... very good thesis
Calvin's great-grandfather went long on buggy whips in 1905, he went belly up too. The sharpsters already made their money on crypto it's just the suckers hanging around now
People keep investing in fake currencies
Old saying.
Figures don't lie.
But liars can figure..
Bet on it..
if you can afford to blow 1.3 million bucks on a scam like this you deserve to lose your money
What logic do these investors use in crypto investments?
Many Cryptos were offering between 10 and 15% RoI to their customers if they pledge their tokens as collateral. That means the Crypto traders have to earn higher elsewhere. But the interbank rates are only about 5% and markets are at about 7.2%.
The only people who may want to pay high rates in the Crypto market are the big time money laundering syndicates, drug cartels, corrupt politicians , sanctioned countries like Iran, Venezuela, N Korea, Russia etc.
Pretty risky bunch.
When CBDC enters the main stream economies, it would be the final nails on the coffins for these Cryptos anyway.
he made virtual money, which can be lost just as easily as you earned it.
You should change the narative ``Invest in Bitcoin`` to ``Gambling in Bitcoin``
This interview lacked substance, but I admire his balls
Keep investing bud. Cryptos a safe bet when the market comes back
Those who lost money or invented in FTX are either day traders with money to gamble or those who are unwitting newbies hoping for a quick buck.
Don't forget the professional institutional investors.
Doesn't want to lose the rest of his crypto investments on other platforms: Contagion
Dog eat dog right now.
What is it …?
1000% or 10 000% ….
Now I understand why this young man lost $1.3M ….
"invest" and "trading crypto" are not related.