Newsletter: Adversary cases from the FTX collapse further expose how crypto companies do business: with secret acquisitions of “grey area” businesses, buying influence, and creative accounting. www.citationneeded.news/not-just-one... - ThreadSky

molly.wiki • 61 days ago

Newsletter: Adversary cases from the FTX collapse further expose how crypto companies do business: with secret acquisitions of “grey area” businesses, buying influence, and creative accounting.

https://www.citationneeded.news/not-just-one-bad-apple/

Comments

mitch.social•60 days ago

Keep tipping those dominoes, Molly. Your exceptional journalism, combined with your dedication, is a force for good. My clients, my community, and I deeply appreciate your efforts.

kozy17.bsky.social•61 days ago

The amount of political cash flying around makes me wonder why Pat Toomey retired - killing regulation, hurting unions, and enriching the ultra-wealthy were his happy things.

j-rome.bsky.social•61 days ago

Is there any estimate about the ramifications of crypto-currency through the entire system? A trend in "brick and mortare" companies acquiring crypto positions has started (e.g. https://ir.semlerscientific.com/news-releases/news-release-details/semler-scientificr-announces-updated-btc-and-atm-activity). Subprimes 2.0?

martinrayner.bsky.social•61 days ago

Call me a reactionary Luddite or whatever, but the whole “decentralized” ecosystem of Web 3.0 and crypto seems like nothing but an extremely hazardous cesspit of criminality and egregious fraudulence. That it could be legitimized by the incoming Trump administration is, frankly, terrifying.

davidgilbertvoiceover.com•61 days ago

Crypto is just a MASSIVE ponzi scheme fueled by BILLIONS of dollars in criminal money laundering.

While the base technology (blockchain) has value, these fake wholly speculative "currencies" are a giant shell game like the penny stock markets of the 1980's.

peerce.bsky.social•61 days ago

Not a financial or computer expert, but dealing with cyber money in cyber space or whatever you want to call it with all the cyber hacks happening right now is about the stupidest thing I could ever imagine our country doing. One stroke of the key, one hack, and it's gone... Just my opinion

wethepeople24.bsky.social•61 days ago

A lot of people are in a lot of hurt after this exposure. Wonder which politicians will be called out. Should be interesting

wethepeople24.bsky.social•61 days ago

Unbelievable!!

adogzlife.bsky.social•61 days ago

While on the subject of Grifters I see the last of the recouped Bernie Madoff cash will be sent to the wealthy investors. Sam too.
Don’t fuck with the rich, screw everyone else. The rich hire Lawyers and Politicians and you go to prison.
Then the rich steal your money and elect Donald trump.

saneamerican.bsky.social•60 days ago

BT Barnum redux at scale

molly.wiki•61 days ago

The roughly thirty FTX adversary cases, filed against business partners, customers, effective altruist organizations, and political action committees, pull back the curtain on how cryptocurrency companies do business.

molly.wiki•61 days ago

They include a case against Genesis Block, a self-described "grey area" crypto business secretly acquired by FTX, which is now trying to claim over $65 million of FTX money belongs to them in what the bankruptcy estate describes as a "baffling act of hubris".

recovery1.bsky.social•58 days ago

If you have fallen victim to an online scam
Don’t worry your money can still be recovered
As long as you have evidence of the scam
Message me so i can track the scammer and recover your money

molly.wiki•61 days ago

There's a case against crypto exchanges run by Justin Sun (among the shadiest of Donald Trump's new crypto business partners), which is trying to dodge returning assets that FTX entities were secretly trading on his platforms.

molly.wiki•61 days ago

There are cases against fourteen political action committees and dark money groups, some of which were recipients of FTX's illegal straw donations as FTX tried to hide some of its political maneuvering.

molly.wiki•61 days ago

There's a case against Anthony Scaramucci, who just announced he bought a new Lamborghini as he and his business partner are being accused of possibly "looting the [SkyBridge fund] assets for themselves", after Bankman-Fried bailed out their failing crypto fund.

jbminn.bsky.social•61 days ago

so... scamamuccilot

jeffreyblack23.bsky.social•50 days ago

Following my manager new trading plan has been a wonderful financial improvement. I'm really excited about the support I'm currently earning from the company $13000, is a really good income for someone just starting out with crypto trading.Whatsapp+ (447407600166) to begin.

molly.wiki•61 days ago

Troublingly, the conditions that enabled FTX’s fraud remain unchanged today. With the same red flags waving across today’s cryptocurrency industry, it’s hard to avoid the conclusion that similar frauds have only yet to be discovered.

motosubatsu.bsky.social•59 days ago

Great work as always! I often refer to the crypto "industry" as being solely based on the notion of "number goes up", but when it comes to the dealings of the platforms it's also "number goes sideways", "number does the hokey-cokey", "number is actually the sound of the colour orange", and "CRIME!"

forkboy.bsky.social•57 days ago

An exceptional read. I vacillated between laughing and crying. These people shouldn’t be allowed to live.

trepan.io•61 days ago

Molly do you have a reference for the specific case against Good Luck Games? TIA

molly.wiki•61 days ago

Docket #27831 at https://restructuring.ra.kroll.com/FTX/Home-DocketInfo

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