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You can never fathom the stupidity of people in large numbers.
Madoff’s mistake was he stole from the top 10%. Had he stolen from the poor to help the rich he would have never seen the inside of a cell.
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Yeah, I remember that.
https://stocks.apple.com/A-uSovNqyTs-7QHkh5npbsA
“ NEW PROVIDENCE, Bahamas (Reuters) - Sam Bankman-Fried’s FTX, his parents and senior executives of the failed cryptocurrency exchange bought at least 19 properties worth nearly $121 million in the Bahamas over the past two years, official property records show.”
My favourite part …
“ The documents for another home with beach access in Old Fort Bay -- a gated community that was once home to a British colonial fort built in the 1700s to protect against pirates -- show Bankman-Fried’s parents, Stanford University law professors Joseph Bankman and Barbara Fried, as signatories. The property, one of the documents dated June 15 said, is for use as a “vacation home.”
“ When asked by Reuters why the couple decided to buy a vacation home in the Bahamas and how it was paid for -- whether in cash, with a mortgage or by a third party such as FTX -- a spokesman for the professors said only that Bankman and Fried had been trying to return the property to FTX.”
Pit Row
Can somebody break this down for the dummies like me who don't understand what happened?
Thanks in advance.
https://youtu.be/zWV-EdsnYMk
Again, it underlines the stupidity of greedy people in large numbers.
Dont get me started on NFT's.
My biggest worry is if DCG goes under they will have to liquidate the Greyscale Bitcoin trust, which would dump a massive supply on the market and absolutely tank prices. It seems unlikely, but their exchange is all but insolvent and this is still so new it's impossible to know the extent of the potential damage.
I bought 40 acres, alta. Tractor and 4 vehicles off 12,500 invested total flipping stocks while Trump was in office. Still have 100k in that account. Timing is everything. I also took 100k of that profit and tried a risky play on a certain stock and its worth about 2k today which I new better after this administration took over and ruined the game. Oh well can't lose at this point no matter how hard they try...
Post a reply to: WEF crypto trading company FTX goes pop.