Sam Bankman-Fried, the now-former CEO of FTX, encouraged the cryptocurrency exchange's customers to buy its own cryptocurrency, called the FTX Token.Sam Bankman-Fried, the now-former CEO of FTX, encouraged the cryptocurrency exchange's customers to buy its own cryptocurrency, called the FTX Token.Not long after they started the now-bankrupt FTX, an exchange for trading cryptocurrencies, Sam Bankman-Fried and his co-founders decided to make their own virtual currency à la bitcoin.
After an article in CoinDesk earlier this month raised questions about FTX's financials, Changpeng Zhao, the CEO of Binance, decided to offload his company's sizable FTT holdings. That spooked investors, and as word spread, the token's value cratered.The FTX Token was part of an elaborate, rewards-based marketing scheme to attract buyers.
In other words, those"VIPs" handed over real money to buy a purely digital token from FTX, and all that was the basis for making risky and speculative investments.
Should the DNC and MittRomney return the millions of dollars in “political contributions” SBF_FTX stole from FTX investors?
Glad you insist on making light of this with the photo of SBF's hair 🤡
Damn, and I was so looking forward to another Larry David Commercial this Super Bowl...
What about the tens of millions he donated to the Democrat Party?
Biden is pushing for more Ukraine aide I'm sure some more cash will work it's way to him.
The end of a giant money laundering scheme for Ukraine and the US.
Biden and Ukraine?
How much money was given to NPR by SBF
When will you report on the connection to DC and FTX and Ukraine?
Lol - I still own 5,063 shares of HHGregg 🙁
Really glad I never dove into the crypto game. I learned a long time ago to never invest in something I don't fully understand. And I still have no idea how crypto currencies work. Just always felt like it was a giant Ponzi scheme and FTX has validated that belief.
This guy was the 2 donor to the Democrats 2022 elections, behind only George Soros. Is that the reason everyone was blinded and gagged concerning the way FTX was managed?
Ah, please forgive my nephew Sam; he was being a little rascal. I will bail FTX out with my enormous sums of cash and single handedly revive the crypto market.
'practically worthless now, but investors continue to trade it.' So, it's just like every other cryptocurrency.
DefundNPR
The Democrats Ukrainian money laundering machine.
Well the more that comes out about this it appears to be nothing more than a money laundering, ponzy scheme, set to benefit the democrats.
I don’t think FTT is the real meat of this scandal. You left out the money laundering straight into the Democrats campaign.
I’m still shaking my head at how a major news organization like NPR manages to find the least-covered, least interesting angle on all this: my! Would you look at that? People are still trading FTT! You write these pieces as though everything at ftx just happened on its own.
Bankman donated $38 million to Democrats and then the exchange he created went belly up. Don’t worry, this does not smell like corruption at all. Just the complete loss of billions of investors dollars with no oversight. No big deal.
Everything is a pump and dump. They are gambling with it online. Nobody is truly investing in it
It's not surprising that FTT is still being traded. Sure, it's pointless and worthless, but so is every other cryptocurrency.
Crypto is a massive unregulated pyramid scheme.
Crypto is Beanie Babies. The fact that Fidelity is allowing 401k trading in Crypto makes me question having a Fidelity account.
He should have gotten a haircut while he could afford one…
The new definition of insanity is: Being told that crypto currency is a scam, then losing lots of money by investing in crypto currency anyway, but continuing to invest in it because you refuse to admit you got scammed.
If you only read this article, you’ll have no idea why this story is so big.
STOP 👏 CHILLING 👏FOR👏A👏FUCKlNG👏SCAMMER👏
Another Democrat stealing...saw where RepMaxineWaters said she WAS NOT returning her money.
You conveniently forget to mention all the money that was laundered to the slimy Dems
Any connections to Ukraine or the Democratic Party ?
Biden Ponzi Scheme
Maybe because he gave it all to fing lying dems.
Another operation by the government to take more of our freedoms. NWO happening in front of ours (for those who aren’t blind to the facts) usecash nocbdc
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