CME Group CEO Terry Duffy reacts to FTX collapse, called Sam Bankman-Fried an 'absolute fraud'
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- Опубліковано 21 лис 2022
- CME Group CEO Terry Duffy responds to the FTX bankruptcy. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Bonawyn Eison, Dan Nathan and Guy Adami. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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"Most people that wear a gimmick are also selling a gimmick" - That one!
crypto is a ponzi scheme
Mic drop
ua-cam.com/video/xUGmdJqlzKg/v-deo.html
Ya he’s good at his job lmfao
Loved that line! Look at Fetterman....same gimmick.... he's another b s'r
That was awesome.
We NEED more of this kinda guy on CNBC. Way better than the usual guests that have no backbone to call it like it is.
A wise man once said:
"SBF, is the Michael Jordan of crypto"_CNBC😁✌
He admitted to bribing the the CTFC in the same interview
They used to have Peter schiff, but cnbc only wants crypto and federal reserve pumpers.
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Clearly he's a Fox news guy. He's not full of it.
He nailed it while 95% of CNBC and congress were on their knees for SBF. Sad.
meanwhile 95% of Bot comments are crypto scams.
@@simulationl279 and?
These talking heads are well paid for their hard work and expert opinions. These financial assets are sold, not bought.
@@BigBrolls that's why everyone got scammed, CNBC gave and credit without die diligence
Good. They R now looking like FOOLS. Harhaar
Our time had reached its zenith, and it is now over. Everything not just FTX, Stock including 401Ks, are suffering from the recession and crashes. My $750K retirement equity portfolio is losing money. Because of inflation, I keep losing. Similar to how Rome fell under its despotic emperors, this world will also. I apologize if you are considering retirement but are concerned that your pension won't cover the rising expense of living. There are terrible foreign policies worldwide, as well as disastrous regulatory, fiscal, and energy policies.
I think it's especially difficult for people who are retired or about to retire. My apologies to everyone who retired during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.
Concerning the future and where we're all going, especially in terms of money and how to get by, I'm quite concerned. I'm thinking about making my first stock market investment, but how can I accomplish so when the market has been in a shambles for much of the year?
I've been communicating regularly with an investment advisor for about eight months. You know, investing in trending stocks is quite simple these days, but the challenge is knowing when to sell or hold. My advisor can aid me with entry and departure points in the industries I'm involved in at this stage. I don't regret it because my profits have increased by 40% in just five months with my initial investment of $160k.
It took me 3 years to stop trying to predict what's about to happen in the market based on charts studying because you never know. Please, i need the help of your Investment advisor.
My Advisor is Johanna Mussche. Look her up
He's 100% correct to ask "Whose money was SBF and his family spending as they acquired their assets. Follow the money!!
Bankman-Fried more like Bankrupt-Fraud
imagine his cell buddy if he lived : "MADE off".
Bankmen freed alright. Freed to usher in CBDC
Richard.....spot-on comment....
Old, saw this 2 weeks ago
Our time had reached its zenith, and it is now over. Everything not just FTX, Stock including 401Ks, are suffering from the recession and crashes. My $750K retirement equity portfolio is losing money. Because of inflation, I keep losing. Similar to how Rome fell under its despotic emperors, this world will also. I apologise if you are considering retirement but are concerned that your pension won't cover the rising expense of living. There are terrible foreign policies worldwide, as well as disastrous regulatory, fiscal, and energy policies.
I think it's especially difficult for people who are retired or about to retire. My apologies to everyone who retired during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.
@Patricia Martin I agree. Based on personal experience working with an investment advisor, I currently have $385k in a well-diversified portfolio that has experienced exponential growth. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
@Alexander Webber
@Alexander Webber
No one can predict the market in the short and medium term , invest for the long run and when I say long I mean 30- 40 years .
you have $750k.... if you just give yourself, $50K a year, and the rest just put in a low risk GIC.. your good for the next 30 years.. it looks simple, but your just against yourself for living rich lifestyle..
I love that he's naming names of regulators & politicians who went along with this.
you only need know commitee member names tbh, that's who all deep pocket donors go after(rather their lobbyists/bagmen broker terms and conditions of financial support), its not even partisan, as they will 'buy into' both parties to hedge their bets, garnering them insight on policy and influencing votes.
its pretty easy to see who has been fluffed by donors, their words give them away and if we had an decently run government, there would be complete tranparency for politicians finances for the past decade, as well corporate donors if they want to wade around in politics. or we could just undo citizens united and maybe some of the filty lucre doesn't get slopped into the hog troughs in dc, but that would require believing that scotus judges aren't themselves already bought and paid for.
CNBC promoted this crap for YEARS!
Who cares nothing will happen to them, any of them
Money out of all politics
Terry Duffy is a fraud himself lol.
A round of applaud for the great analysis and breakdown of personal perspective. I woke up to the sad news by FTX. The market circumstances are driving me insane, my portfolio has lost almost 18500 this month alone, my earnings are tanking, and I can't see how my retirement will go smoothly when I can't even increase my stagnating reserve. I wonder whether those who lived through the 2008 crash had it easier.
Both bullish and bearish markets provide the same high-yield potential; all that matters is how information and strategy are used.
@@sheliaswelttk2535 I agree, my profit has been quite consistent, regardless of market situation, I got in early 2019 and the constant downtrends and losses discouraged me so I sold off, and got back in Dec 2020 this time with guidance from a portfolio adviser that was commended by a famous economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my investment adviser
@@davidnewbury1721 That's impressive! I could really use the xpertise of this manager for my dwindling portflio. Who’s the person guiding you?
@@gabriellewilson5625 I am guided by "SAMANTHA CECILLE MUNCY" I found her on a CNBC interview where she was featured and reached out to her. She has since provided entry and exit points on the securities I focus on. You can look her up online if you care supervision.
@@davidnewbury1721 This recommendation literally came at the right time, I dipped by $23k in stocks last week alone. Its crazy! I just looked up "SAMANTHA CECILLE MUNCY" online and researched her accreditation. She seem very proficient & I wrote her detailing my Fin-market goals. Thanks
The truth is no one knows where bitcoin could go but odds are it goes up and due to past history that is never guaranteed to continue. So I'll advise y'all to play safe with this approach......
@@krunoslavmartincevic4001 She's really one of the best crypto experts you can rely on, her signals are accurate, efficient and easy to execute in your daily trades.
Taking the decision to place your trade under an expert for rust management and guidance is a very good approach.
Buying crypto doesn't ensure profit always for you especially when the bear market is at hand. Y'all should be able to make profit off the market even with declination in price.
@Moshin kahloon You can communicate with her on Tele'gram with that user name
“Let me say something which I think is really important. I told my team this has nothing to do with crypto.” - Terry Duffy, CEO CME Group
Very important comment that I wish I heard more often on mainstream finance channels
Absolutely. This was a pyramid scheme, and regulators had to look the other way, because this dude was filling politicians coffers. Nobody will be held accountable, don't worry we assigned a special counsel for Trump. LMAO what a joke.
Long term, this is highly bullish for crypto.
Aawww poor baby put your big boy pants on
@@justinfatso6727 Long term stocks, RE and other asset classes are bullish too. I Bet more crypto exchanges will go down, more will be hacked, this whole eco system is a catastrophe. Unless strict regulations are put in place, crypto is a no touch. Most people cite block chain technology as a driver for crypto, but unlike public companies that have real earnings, forecasts, audited financial statements, this space is run on lunacy, and most crypto ballers are uneducated in this space and follow the herd, the silly get rich mentality. crypto to me is similar to what spac´s were in 2020.
The fact that they still employ Cramer is all you have to know about the integrity about CNBC.
Plain & simple...great interview...Mr Duffy is what reputable looks like...bravossimo mellisa
That's what was said about all the financial geniuses , until the tides rolled out and revealed how naked they've been all along
He literally admitted to being a federal official in his last interview...
Keep in mind, Mr Duffy RUNS one of the largest exchanges in the world. He knows how much money is out there, people should have listened.
Damn he called out everyone! Need more people to say it the way it is.
It’s rare for financial ceos to do this. The glass houses line of thinking Mosley. You go after another business and people start looking into yours.
I am trying to avoid making any new buys at this point in other not to get sucked into a bear market trap.It's tough making money in stocks when institutional investors are the driving force behind the selling.. although I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
Focus on two key objectives. First, stay protected by learning when to sell stocks to cut losses and capture profits. Second, prepare to profit when the market turns around.I recommend you seek the guidance a broker or financial advisor.
Right, I've been in constant touch with a fiinancial-analyst since covid . You know these days it's really easy to buy into trending stock`s, but the task is determining when to buy or sell . My advisorr decides entry and exit commands on my portfoliio, I've accrued over $550k from an initially stagnant reserve of $150K.
@@bsetdays6784 heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up
@@kaylawood9053 Having a coach is key in a volatile market, My advisor is “LUCY HOLDEN COYLE” You can easily look her up, she has years of financial market experience.
It’s incredible to me people actually fall for these cons. UA-cam do a better job sniffling out these fake advertisements
We need more honest men in the world, Respect to him for saying exactly how he saw it.
yeah big respect. he even raised his concerns in congress
Don't be silly...I was in business all my life...99 percent of the people I dealt with were honest ..
I built homes without contracts with subcontractors and even customers...you are comparing the real world with the internet which is all about lies!!!!!! It's the Schadenfreude in you!!!!
@@vincentanguoni8938 😂 If you say so.
@vincent anguoni: Schadenfreude means to take delight in the misfortune of others. Don't use fancy words you don't understand.
oh what a breath of fresh air this guy is, better than 90% of CNBC 'experts'
Even though I'm not related (despite the same last name), I love this guy! Straight talk! As Orwell once said, "during times of universal deceit, telling the truth becomes a revolutionary act."
While there's limited history on the value activity of the crypto markets comparative with stocks or securities, up until this point the costs seem uncorrelated with different business sectors. a decent wellspring of portfolio expansion I concede. I have joined resources with negligible value connection, and I create all the more consistent returns. at the point when my stock portfolio goes down, my crypto resource goes up as well as the other way around. In any case, crypto is by and large exceptionally unstable and have been expanding the unpredictability of my general portfolio, my resource assignment is too weighty on crypto
I bought in BTC, XEM, and ADA few months ago and made some returns, but I'm presently losing money and it's just going to get worse. The market fluctuations aren't helping matters either; my issue is, how can I earn a short-term profit right now, especially with the market oscillating? I've heard of investors who earned hundreds of thousands of dollars by investing in cryptocurrencies, and I'd welcome any tips on how to make that kind of wealth
Timing the market is impossible. history shows that the market will in the long term have an upward trend, so the worst thing is not investing at all. i have trailed along lisa michelle pacillas markets picks and i have accumulated 7btc with her guides.
@@carlosjohn460 have you got more info on her services?
You can do your research and be on the lookout for a portfolio manager with intelligent strategies who'll help your portfolio maintain an unwavering and a progressive growth. Lisa Michelle Pacillas is my FA. she is well known. you can verify her yourself online.
Thanks for the information. looked her name up online and linked with her website, really impressive!
Great interview. Well said from a man who knew fraud when he seen it! 👏👏👍👍.
CNBC was complicit in crypto pumping.
Terry is a G!
Is his name ripped straight out of a mob story lol
"...was he carrying his briefcase, or should I rather say his backpack"?
🤣
Won't miss any of these crypto bros
I totally agree with what you are saying....The fact is, BTC is the future of crypto and the questions investors ask them selves now if this is right time to invest? before jumping into conclusion i think you should take a look at things first. for the past few days the price of BTC has been fluctuating which means the market is currently unstable and you cant tell if it is going bearish or bullish. while others still continue to invest without the fear of making lose, others are being patient. it all depends on the pattern with which you trade and Alabama o the source of your signals. i would say trading has been going smoothly for me, i started with 2.5 BTC and i have accumulated over 15.6 BTC in just three weeks, with the strategy given to me by expert Austin Marcus
Got max stupidity wit the nft bros. Was a sign of the end wernt it.
@@Austin__Marcuscrypto but... you are Austin Marcus, or you suffer from multiple personality disorder 😨
This guy is pure gold! i wish more public speakers and people in a pisiotn of power were like him
Come on Melissa. “He was a major donor”. He was a major donor to the democratic party. Say it.
If he had given $40 million to the Republican Party, you would’ve said it.
Count me in I'm placing my trade with expert Mrs Robert Nancy She is active with this➕𝟏𝟸𝟶𝟾𝟸𝟾𝟻𝟼𝟻𝟿𝟻☎️ currently on... she's tested and trusted.
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If they make a separate regulated body for crypto or digital assets, instead of the SEC or CFTC… we need this guy in that… I would vote for him in a heart beat
Finally someone is saying the truth.
thanks for telling us this after shamelessly pumping and fangirling for crypto nonstop for years, CNBC
crypto is not the issue here.
Finally a guy with some balls
Terry Duffy I like his energy. It’s really refreshing to hear him speak his mind. He called it for what it was.
Is this the new NBC? These guys are great. I know it’s CNBC but wow. Honesty. It’s great to see anywhere these days.
And they didn’t interrupt like usual too.
Thank you! The way Bankman-Fried dressed was and is a total gimmick.
But...but...he has really big hair. He must be smart.....
Graham Stephan made the implication that SBF was a great guy because he was driving a Toyota rather than a Lamborghini.
Ro Khann is a real piece of work! All that were there at that hearing who did not heed Mr. Duffys warning are complicit and responsible for the failure to protect consumers which go beyond FTX, but include BlockFi, Celsius, Voyager and others. It is a shame that so many had to lose their savings or their money because people like Ro Khann are so willing to side with their donors and sponsors. Shame on him and all the regulators and people who could have done something but chose to let it ride.
Roe Conn
So unlike any other interview on CNBC. To be shockingly truthful for a change.
Except they forgot to include themselves as major culprits in this fraud.
Great interview Melissa. This has to be one of the biggest fraud and scam of all time. Scary.
This guy didnt hold back.......he was savage!!!!!
I normally keep my nose out of the comment section, but in this case... This is one of those times were I am glad I listened to my father ! I think a lot of us sailed awfully close to the wind on this one and it should have been avoided...
Bro wants all the smoke from the haters who doubted him 🤣
Maybe you CNBC should not have participated in the pump yourselves. What astounding hypocrisy. You should be sued as well by providing a platform for FTX.
Totally agree. Trying to blame the regulators alone when the media gave the platform and amplified the hype. And talk as if they are blameless, with their fake outrage and clutching their pearls. Smh
@@ArchitectingHappiness Bloombergs' own crypto "team" of six women were pitched six months ago that FTX was a complete scam and outright refused to run the story: AD Revenue threatened.
With inflation running at a four-decade high, the Recession is now the ‘most likely outcome for the economy and I cannot imagine being a victim of circumstances. Look at what FTX did, My portfolio suffered a big hit cause of that, holding it further won’t be any good. I've heard of people netting $100k or more this red season. How can I ensure this?
Find stocks with market-beating yields and shares that at least keep pace with the market long term. However, for a successful long-term strategy you have to seek guidance from a financial advisor. I trade with Paula David, her skills set is exceptional.
If the stocks you bought at a high price was good enough to buy, they should be good enough to buy averaging down. Buying stocks doesn't make you a winner, the ability to make profit daily out of your capital is what makes you a winner, Paula David made me stop depending on the market price to make profit rather to choose Trading over Holding and it's huge returns are awesome. Can't say much.
I'm new at this, How can I reach out to your guide?
*investwithpaula*
This is the best guest you guys have had.
Duffy was never buying it from day one. I remember him saying it was going to liquidate farmers with crop in the ground.
This gentleman Terry Duffy, is a breath of fresh air and we need more like him to speak up and speak out and be heard before people lose their billion's. Thank God he exists and makes the show worth watching!!! Real reporting and worth hearing.
Yes people need to be responsible no matter who they are. They are criminals.
Finally, someone getting it right and not afraid to say so. Thank you Terry Duffy
Mr.Duffy Thank You Sir!!! It’s Nice And Refreshing To Her A Real MAN Speak The TRUTH!!!!!!
I love you Sir. Your kind are rare and an inspiration to us. Thank you for your sincerity.
Best interview they’ve had in two year!
One of the best GUEST I’ve seen nice congratulations sir
This Terry guy is great.
*EVERY FAMILY HAS THAT ONE PERSON WHO WILL BREAK THE FAMILY FINANCIAL STRUGGLE I HOPE I BECOME THE ONE ☺️... IN A FEW WEEKS I WAS ABLE TO PAY OFF MY DEBTS THROUGH INVESTING IN CRYPTO TRADING*
*Assets that can make you rich
Crypto
Stocks
Real estate*
it's obvious.
a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to stay poor
The best strategy to use in trading is to trade a professional who understands the market quite well, that way maximum profit is guaranteed. Because I have learned along the way of my investment that research and analysis are important, note that experience is more needed, than luck when it comes to the financial market.
This Bitcoin trading has set sail. I honestly cannot overemphasize how much delving into Bitcoin trading has helped saved and changed the lives of many.
“Traveling with”: Mark Wetjen nominated by Obama to CFTC Commissioner
Ryne Miller served as legal counsel to CFTC Chairman Gary Gensler. But “I don’t know🙈”
Not mentioned: FTX hired a lawyer who for a while served as general counsel, then regulatory counsel, whose big resume item was having been general counsel at a major online poker betting firm that collapsed in a cheating scandal. Oh, and said lawyer, Dan Friedberg, was implicated in the misconduct. Agenda much?
What a Legend. HE knew WTF was up.
Wow well this was a rare and refreshing perspective by a real and genuine business man. I haven’t seen something like this on CNBC since before the Obama Years.
Imagine getting “financial advice” and getting ‘reprimanded’ about it by a career politician in congress…. Sure….
Terry knows this space! He's right on the money!
Would LOVE to see this guy tear up Ro Khanna!
Ro Kahanna.. Congressman from the 17th district of CA...
He was sent to berate Duffy in his testimony. The location of this congressman's district suggests that he likely knows Bankman and Fried and others of formerly high standing at Stanford. How much FTX money did this congressman accept, if any, from FTX? Will he return it? Where is the list of who accepted FTX money?
He's also known as: Scam-Bankman-Fraud
AKA Sam-Bankrupt-Fraud
We need more people like this gentleman.
He has good old common sense.
He's not out looking for a unicorn.
Chicago Chad vs silicon valley dweebs
I guess the best way to pull off a scam like this is to pay off all the people that can bring you down!
This guy is so refreshing! More of this CNBC!
''.. or I should say his backback'' almost spit my coffee. Thats hilarious!
*>>> Stocks are falling and bond yields are rising, but markets still don’t seem convinced the Federal Reserve will pursue plans to keep increasing interest rates until inflation is under control. I'm still at a crossroads deciding if to liquidate my $117k stocck portfolio, what’s the best way to take advantage of this bear market?*
These strategies are quite rigorous for the regular As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Scam, dont fall for these fake 1 month old accounts
Glad that this guy Terry called out Bankman Fried in advance.
Wow Terry hit em hard way back
I can appreciate a genuine moment when I see one.
Mr. Duffy was one the few people who knew SBF was a fraud. He deserves tremendous credit for being correct.
SBF wanted to encroach on his territory, the CME.
Pretend this is 2007-8. Oh wait…it can’t be. Someone in the financial industry is actually holding someone accountable.
" if you look like a gimmick it means your selling a gimmick " - Terry Duffy
Great points. The real experts can spot fraudsters very easily... but the problem is FTX also bought off a lot of "experts" to falsely support them. Refreshing to hear a guy like this.
This is a powerful leader.
Charities in the UK lost £35000000, on ftx, PRISON FOR BANKMAN FRIED AND THE GROUP OF TEN,,,
Tough questions.
Perhaps FTX didn’t want to keep the receipts because his parents told SBF not to keep track of anything since that’s proof of purchase. Check it out: he knew it was a Ponzi, which he knew would fall one day. If there was a paper trail, then the money could be tracked. Since the auditors now need to find the rest of the assets due to bankruptcy, then now there is no paper trail since all the money has been laundered to other names.
When I started the crypto process in 2017, there were few youtubers I trusted and you were one of them. This video confirms my impressions. As for me, I continue to DCA $AM200X.
It's a damn shame that no one involved behind the scenes with FTX will go to prison.
Corruption, fraud, money laundering !!!
3:00 "a biblical disaster" ...........yup, and here we are!!
It’s an Unregulated market, buyer beware.. they want regulation they need to pay for regulation.
"Naked shorts, yeah."
"Baggy shorts, big t-shirt."
I like this guy!
He nailed it.
I've been a individual investor for over 20 years and I love this guyhe is a straight shooter. Never trust anyone with your money make your decisions based on your research and the tools out there.
He calls it like he sees it!
CNBC and Cramer were pumping FTX.
AND Kevin O'leary and .......... man, those names are moving over to my contrarian list.
Best guest and interview I've seen on this.
Enjoyed this video, thanks for the excellent communication
Brilliant. And not surprised To Khanna was caught on the wrong scent. Typical. He's not the brightest bulb in the box.
Duffy. Beast mode.
Great interview. Great to see the professionals returning to the room.
It’s good have adults speaking for once.
RISK is RISK, CONSUMER PROTECTION should be paramount no matter if it is innovation or not
Yes listen to Terry Duffy. Thanks for speaking out. This is a financial tragedy it creates hurt and distrust Sad. Sad
Remember the wise words spoken many decades before crypto: "There's one born every minute!"
I will forever be indebted to you you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment thanks so much Mrs. Lisa
I’m surprised you know her too. I’ve been making a lot of profits investing with her for a few months now.
You invest with Mrs Lisa too? wow that woman has been a blessing to me and my family.
I’m new at this, how can I reach your broker?
You can communicate with her on instagam, with the username below.
@mrs_lisa_de_bruin
The truth is where the money went .. $70 million to politicians in 2022
Why does this continue to happen ? Scams are still allowed.
*Most people don't realize the economy is collapsing and there is an increasing rate of unemployment worldwide, so take advantage and prepare by making investment to survive..*
Inflation is eating up the Economy.. But the rise and fall of much of finance depends on investment and risk taking, that's a fact.
Investment on risk assets (stocks, crypto, etc) is easier with proper guidance, especially from a proffessional it really helps reduce the chances of running into losses
Crypto investment is lucrative, people are just confused because it's volatility ?
The most common mistake i see new investors make is rushing Into crypto investment without any guidance.
@Kabiru Ibrahim >Mis ~Ella, is a genuine and consistent trader that can guide you to becoming one the whales in crypto
I love how they keep using that same photoshopped photo to make him look better than he is but let it be a normal non-billionaire they're trying to find the worst photo possible to make him look as bad as ever
It's not photoshopped, the photo is old. SBF just got faaat.
Fin journalists, investors and invisible regulators could have easily exposed FTX and the meth kids long ago... had they done basic due diligence and research.
Did any single person go to inspect their HQ.... just once?