What Happened To FTX? The FTX Collapse Explained
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- Опубліковано 22 тра 2024
- What Happened To FTX? The FTX Collapse Explained. What Happened To FTX? What Happened To Sam Bankman-Fried? How did FTX collapse? What is the story of FTX? What is FTX? How Did FTX Fall? In this video, we explore the FTX Crash and the collapse of FTX, the crypto exchange that collapsed from a $32bn valuation to 0 after issues with liquidity and fights with Binance. This is FTX Explained. Sam Bankman-Fried, the founder of collapsed Crypto Exchange FTX, saw his net worth drop from $16bn to 0 after the collapse of FTX. FTX was one of the most exciting startups in crypto, founded in 2019 and rocketed to unicorn status, seeing investment from massive organisations. But What happened to ftx? how did ftx fail so quickly. There was a liquidity crunch in November 2022 after Binance, a major FTX competitor sold their shares in FTT which saw a run on the bank and $6 billion in withdrawals in 2 days. Sam Bankman-Fried, the FTX failed founder is still in the bahamas as a free man, for now! Watch the video to explore what happened to ftx and sam bankman fried's business. The Story continues: This is FTX Explained so you can understand all about the FTX crash.
Here's How It Happened
Vox Texts: www.vox.com/future-perfect/23...
Dealbook Summit Interview: • Sam Bankman-Fried Inte...
DISCLAIMER: Since the time of recording, 29th November, there has been additional information that has come out which may not be included in this video. In the week that followed our audio recording, more and more information has come to light about FTX. Therefore, we may have missed some parts of this story, a story which is constantly evolving. Check the links in our bio for further reading/videos. Thanks for your support as always!
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#ftx
#crypto
#howithappened
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![How to Lie Your Way to $34 Billion [Nikola Motors Fraud]](http://i.ytimg.com/vi/88fWUZhYb04/mqdefault.jpg)
DISCLAIMER: Since the time of recording, 29th November, there has been additional information that has come out which may not be included in this video. In the week that followed our audio recording, more and more information has come to light about FTX. Therefore, we may have missed some parts of this story, a story which is constantly evolving. Check the links in our bio for further reading/videos. Thanks for your support as always!
Fraud should be treated the same a stock market fruad
Trading is zero sum. Sbf lost so others gained. Who are they?
I have read the bio, and noticed only one site to refer to for readings. I was wondering if there are more readings to dive deeper into this issue.
Opiiñoñ
Just imagine you deposit money into your bank and they cannot even be bothered to record your name and account.
I know, right, Chris?
@@tonycurcio4518 You tell em, Tony. Boo fucking Hoo and merry christmas.
..Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places
All big corps are just a cohort of centralised system working together, and any damage to one can have a dangerous ripple effect on every other one. I learned a long time ago to not trust corporations. Most of my money is in the stock market and my businesses. I keep only what I need to spend in my checking account.
@Dave Delva Impressive! I've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging, who's the professional coaching you?
@Dave Delva Thank you for this Pointer. It was easy to find your handler, he seems very proficient and flexible. I booked a call session with him.
Bankruptcy is one thing, but robbing someone of their hard-earned US dollars from their bank account is, to me, extremely criminal and grand theft. save yourself your miserable attempts at an explanation and transfer the money back
9:05 u know he knows everything. Just look at the pause and the delay process he try to put in a better way. It's a sign that he struggles to make his story more believable when u know he failed.
So if SBF's wealth is zero, why does he still have a house in Bahamas? Why haven't creditors taken his house and liquidated it?
I've only listened to this Sam now for about a week and I wouldn't give him ten dollars.
Help me to understand why people invested millions/billions with a 30 year old. He basically stole all their money 😢😢😢😢
People want to make money the easy way
Let the hundred of thousand of FTX investors determine his conquences for stealing not only their hard earned money but the future dreams of what these grandparents, parents, children and grandchildren will be deprived of.....
It's all apparent in retrospect. In the wake of FTX you would youve given him a significant portion of your wealth
Cant wait for Internet Historian to do a video on this
same
Sam didnt lose the money. He STOLE the money.
What are you basing your slander comments on...stupidity
Exactly, he’s 30 and fooled all those investors. He also paid off the democratic & Republican Parties.
Both
@@nosuchthing8 the money is there...
@@gushernandez25 no, it's NOT. The acting CEO can only find a few billion.
SBF gambled it away
Wait.. the Ontario teachers put their 401k's into FTX? Oh boy..
Thats ridiculous..
yup invested $95M ... ouch
@@darlenedunn5693 After losing some of my cryptocurrency to this FTX Scam, I found @RyanMossley. These guys are legit they helped me recover my lost funds. The team is also very knowledgeable and professional in their process. They were also able to offer advice about what I should do moving forward to make sure that this doesn't happen again. I would recommend these guys for any recovery case where cryptocurrency or other aspects concerns.
My profile carries their name ☝️
@@subarcadventures1491correct, it has to rolled into a IRA
I live in Ontario, and let me tell you, not many geniuses in our parliament.
Ex Credit Suisse data analyst says it all! All alarms ringing at top notch!
After losing some of my cryptocurrency to this FTX Scam, I found @RyanMossley. These guys are legit they helped me recover my lost funds. The team is also very knowledgeable and professional in their process. They were also able to offer advice about what I should do moving forward to make sure that this doesn't happen again. I would recommend these guys for any recovery case where cryptocurrency or other aspects concerns.
My profile carries their name ☝️
Well, the Ides of March applied . BINANCE also made a faulty risk asessment calculation . It did not realize that by liquidating its FTT position it was pointing to the emergency exit, where everyone else would go through an dultimately start contaminating BInance itself as push came to shove. domino effects I guess. BInance is now suffering the ripple effectgs of what they set on.
This is a possibile reason why twitch of the Ellen show took his life. 😢.. He's rumored to have lost millions.. He was heavily invested in FTX.
We're about to run a Reward , to have this Kid delivered . Kid owes us money , he will pay up in Full
He knows exactly what he did and should be in jail. Don't understand how he's not in custody yet.
After losing some of my cryptocurrency to this FTX Scam, I found @RyanMossley. These guys are legit they helped me recover my lost funds. The team is also very knowledgeable and professional in their process. They were also able to offer advice about what I should do moving forward to make sure that this doesn't happen again. I would recommend these guys for any recovery case where cryptocurrency or other aspects concerns.
My profile carries their name ☝️
So they basically engaged in fractional reserve banking and there was a run on the banks.
Right? That’s what I’m trying to figure out. Like it wasn’t a Madoff situation right?
personally,I think people should venture Into trading since the economic meltdown, having one stream of income is not really a good idea.
Well I totally agree with you.....if feels like people hate everyone with money like it's their fault that they are rich but it's funny if you want to remain broke.Why Don't the guard works 20 hour's a day and take risks in life.
@@cynthiakingsley Nothing good comes easy in this world so either work for it or don't complain.
@@lesleyshelton126 Done been broke but when I tried trading on my own it only left me chasing Shadows.....to much procrastination .I think is the right time for me .
@Berman Newton please can you tell me more about Bitcoin. trading,I want to start trading.
@@benpeter1502 Well I guess crypto is leading all around the global.I meet SofiaBucay 6 month ago in California she was attending a seminar.
Not sure why anyone is surprised at SBF stealing all the cash from FTX to Alameda. After all, just take a look at the name - Alameda. This was the name of the security firm from the movie Den of Thieves, which was used as a front to rob the Federal Reserve. Surely that should have sent alarm bells off, but apparently everyone was asleep at the wheel. Sounds to me like SBF planned and executed this right from the start, as the perfect heist.
Agreed, this 30 year old master minded this whole thing now he playing dumb. Like he doesn’t know what went wrong. Oh, he’s now blaming his ex girlfriend 😢
Hahahahah well deserved by all the brainwashed cryptocurrency fanatics. You can trade crypto, but to believe it is a “saviour” currency is your own simpleminded foolish thinking
i think not just SBF but all of them should have been arrested on day one...
After losing some of my cryptocurrency to this FTX Scam, I found @RyanMossley. These guys are legit they helped me recover my lost funds. The team is also very knowledgeable and professional in their process. They were also able to offer advice about what I should do moving forward to make sure that this doesn't happen again. I would recommend these guys for any recovery case where cryptocurrency or other aspects concerns.
My profile carries their name ☝️
You notice his SBF doesn't answer no immediately and then says the full question back "No I didn't know the money etc" that's sign of lying
I wonder how much andrew was involved. He may have been the true mastermind. Why so many shell companies
This is always one of my favorite parts to watch.. 9:18
Binabce CEO is EXTREMELY smart. He knew exactly what he was doing. Kudos to him and his whopping profit margins.
When I buy a coin on an exchange I expect the coin to be purchased and stored not have a fake portfolio page updated with nothing I ordered bought while the ceo hands out my money like party favors to politicians and friends in between meth fueled orgies. I'm so glad I didn't put any money in the site. I'll continue storing my coins in my trezor model t crypto wallet thank you.
Don't forget that the most important part is that Larry David was right ✅ he's always right
After losing some of my cryptocurrency to this FTX Scam, I found @RyanMossley. These guys are legit they helped me recover my lost funds. The team is also very knowledgeable and professional in their process. They were also able to offer advice about what I should do moving forward to make sure that this doesn't happen again. I would recommend these guys for any recovery case where cryptocurrency or other aspects concerns.
My profile carries their name ☝️
@@fenco_gbp hush
@@fenco_gbp wow I’m convinced, do you take traveler’s checks
@@fenco_gbpcan I pay in 752,000 mcchickens
👏
The crypto spamming and scamming in these comments is insane
the way SBF say is like he has no idea what is happening in FTX...
Warren was right about crypto?
12:27 Sam's tweet has more likes than retweets?! 😲
Pitchforks and tiki torches.
Let's ROLL!
He must like to consider himself ceo, he loves the ring of it.
What about the SEC ? Is it corrupt or is it incompetent ?
Sometimes I really wonder how people make huge profit investing in the stock market, I know investing is a legitimate way to gain financial freedom but how is it done?
Having monitored my portfolio performance which has made a jaw dropping from $360k just the past two quarters alone, I have learned how some people make enormous returns from the market.
@@clintonj.johnson9879 Interesting. I wanna get something started with it. You seem to be doing excellent for yourself, how did you achieve this?
It's really quite simple. You get rich slowly, spend less than you earn insure against disasters and invest wisely if you don't know how it's good to seek expert mentorship or you can just buy and hold an index fund every month and do nothing
@@colegaligger7072 Am trading with Everleigh R. Carvalho, Met her sometime early last year at a start up funding event. She said some interesting things about the state of algorithmic trading today.
@@clintonj.johnson9879 That's impressive. Are you giving her your capital or it stays in your trading account? how does it works
"greed eats brain", isn´t that the slogan of cryto?
"SBFs' personal worth went to zero"
Yeah, right, sure it did.
After losing some of my cryptocurrency to this FTX Scam, I found @RyanMossley. These guys are legit they helped me recover my lost funds. The team is also very knowledgeable and professional in their process. They were also able to offer advice about what I should do moving forward to make sure that this doesn't happen again. I would recommend these guys for any recovery case where cryptocurrency or other aspects concerns.
My profile carries their name ☝️
People are now concerned that they've lost all the money they invested in crypto through FTX. But how many of those same people got sucked in by the marketing hype and supposed easy money instead of doing proper due diligence and taking advice from reputable people in the industry about their investment strategy? The saying holds true that if something is too good to be true it generally is.
This is the Theranos of finance. They fooled big institutional investors who should have known better and show due diligence.
I still don't get it. I understand he did a rug pull and basically was using people's money on bets that not everyone will cash out at once and didn't actually have there money. But if it was unregulated how is he in prison?
Sfb and the fyre festival guy should link up and work on a project together
The should sell the same jail cell
Money and wealth does not grow on trees as promised by these criminals. It’s the most basic logic on the planet. So it good that people lost their money. Maybe they just might learn a lesson from this. So if you don’t know how something works and nobody on the planet can explain it either, then most likely it’s a bad investment.
That's were the powerball went in California to recover some of the lost
How come I’ve never heard of this until he’s arrested.
how can anyone explain what happened to FTX when SOB claims he doesn't know himself?
Headquartered in the Bahamas? Run.
I see a movie about this like the summer of 2028
I am so appreciative of what you and your colleagues do to hopefully save people from the pond scum people out there trying to scam unsuspecting victims. to you and what you do. #RetrieveCracker God Bless and please keep up the good work!!
FTX now joins Enron and Theranos
And Madoff
@@pretorious700 And Musk
its like all of the accounts in FTX was scammed..
I hope he doesn't go away to jail for a long time, he should sell his story to Hollywood.. we need FTX movie asap
Let’s exchange SBF for Paul Whelan in Russia.
He'll plead guilty in exchange for a 17-20 year sentence.
Not at all
"Aaaaaaa" damn you
I’m so glad I’m a older poor man and stupid so I don’t jump on the first new money making investments that I don’t understand and that just doesn’t look right praise God for that
This is BULLSHIT why in the hell is this guy stIll walking the streets thier is a lot of people that lost their life savings. Just because he gave a lot of money to BIDEN. I think nothing will happen
Any Crypto currency needs to fulfill a need and do something - either as an method of exchange of goods or services, like money. The goods or services could be very specific, but it needs to do something - move something - but cannot just be some empty token or brand. If it doesn't move it is useless - stay away. Bitcoin was always a collector's piece. It is used as a transaction tool, but not enough. There are only 27 million of them and it was just a game. Ethernet is a system that moves stuff. The danger in Crypto is people get duped into what it could be rather than what is actually is.
If the Crypto does not constantly move - it is worthless.
Beware those who dabble and do not understand. Crypto will eventually take over from Fiat currency, but the state of integrity with Crypto is almost non-existent, because the majority of the players / creators have no integrity.
Currency needs to be relatively stable in price, or it is useless... If the relative price of a currency can change between the time you buy something, and the time the person who you paid goes to restock it is too dangerous for the merchant to use.. No one in their right mind would buy something expensive if the difference of a few days decides whether they paid $10 or $1000 relative...
You are absolutely right. Crypto is bs… if it doesn’t move it’s worthless… I agree and now my eyes are open.
I invested in Ponzi Coin at the right time and I mean BIG TIME. Thank you SBF.
It was just an embarrassing mistake, that's all. Carry on.
Why thank such a SOB for his actions? He deserves what he did to we the INVESTORS in FTX.
And they say sociopaths are good looking and smart
SBF is incompetent as investor. He failed to make profits for investors in his firm. I would never invest in a firm that he manages.
I make money the old fashioned way “ I EARN IT” !
Marshmellow finance is the new FTX fraud. Stay away from Marsh scam
MANNN I CAN SEE SOME PEOPLE NEVER WATCHED A PONZI DOCUMENTARY 🤣🤣🤦🏿♂️
3:00 That the most nerd face in real life i ever seen. 🤫🤫🤫
No math. Be comfortable with risk. Make sure to siphon off a few million or billion for yourself. For altruism, of course.
The old dude got paid for saying the truth
he was not worth 32b..he only had billions of other peoples money in his care.
It's all nas dailys fault
And people say Kanye was wrong.
SBF got 15 years for swindling and another 10 for putting his bs company on Lewis Hamilton's car! 😮😂🤣
Nah imagine FTX being regulated like BAnks
Yeah that would mean more bailouts
Let the free market destroy shitty people from doing business again. And yeah that should go to banks too
What were his connections in order to pull this. Where did he learn all this being so young? Daddy's friends? At colllege? Goldman Sachs? At Temple? He's gonna needBernie Madoff's prison coach?
Poor guy lost everything for making one wrong decision. So sad!
Poor guy? Really?
@@avkay12 come on now, nobody's innocent. You are all in it to kill it. Your leader has fallen, now mourn your loss.
Sams demeanor, body movements scream he's lying. He stole the money.
If you can't trust Banks who are more open then why would you trust some youngsters? Oh because you are greedy.
The danger is I'm unregulated CENTRALIZED organizations.
The whole thing was a scam since inception.
People really trusted a guy who runs like that?
It’s Tom Brady’s fault 😢
Gambled away the money
I think to be in the upper echelon of successful traders like Mr Matej Novak requires an innate skill, a gift. It`s just like being a great violinist. But to be a competent trader and make money is a skill you can learn.
I stumbled across one of their testimonials and decided to try them out. I am expecting my third payout in 3 days
Do you mind hooking me up with him? I'm new to this
He’s a reliable and consistent trader, I referred my colleagues and they already gave me feedback concerning their payout
@@karenboyle4304 ohh, you can text on his Telegam page with the user name below
@Tradeexpert_mn
That’s his username
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
" dumb drugs people "
hey this is me from the future April 2023.......... uh, he's a crook!
Binance invested in ftx but when it started to becone too much competition for them they caused it to collapse
Right.... It's CZ faulty that a competitor (like all crypto) is nothing but a Ponzi scheme
how could you trust any man that talks like that
Main Hoon Fraud seriously 😂
So not only did he steal people's money but also tricked them to trade for nothing
I never liked his face
SAM BANKMAN-FRIED - SCAM BANKRUPT-FRIED
not 1 mention about all the political contributions what the fuck?
lol
Just do what President Biden is doing by the Justice system
" HAHAHA HAHAHA HAHAHA " 👺👺👺
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You are correct. I completely concur with that
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I have good analysis and guide from a professional to make this possible
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Good that’s what they get. Eat the rich lol
Drug laundering
Sam has y’all billions on an island somewhere lol it’s not missing what a crook he should be in prison it’s literally was fraud
SBF Sam Bumbling Fraud..."rest of my Life' your words, to remind yourself, when you are INSIDE...looking out.
FTX will bounce back. Sam is an honorable billionaire mastermind... Today is opposite day
I get sarcasm.
I think a lot of FTX haters are simply JEALOUS of the success of Caroline Ellison, a total babe.
How are you feeling about this statement today?
When it comes to investing, we want our money to grow with the highest rate of return and the lowest risk possible. Mean while there are no shortcuts of getting rich, but there are smart ways to go about it. I’m grateful to God for leading me to the right platform who’s method are top notch and profitable.
A Jew being a Jew!! Ask Bernie Maddoff. 🤣🤣