As the autopsy of Sam Bankman-Fried’s crypto empire begins, it’s worth saying that there were red flags all over the place. We missed them. It was a success story almost too good to resist. In just over three years, FTX would go from nothing to a $32 billion company. Now it’s back to nothing.
Along the way, investors, politicians, regulators and yes, journalists, dropped the ball. In Bankman-Fried, with his chirpy energy, bottomless optimism and texts-me-back-on-deadline openness, we found a conduit to the crazy world of cryptocurrency that could help make sense of it all.
To accept the image, however, was to suspend disbelief. The clues were there, often coming straight from SBF himself. Talking to David Rubenstein, one of the founders of the Carlyle Group and a Bloomberg TV host, Bankman-Fried explained why he created FTX. It would foreshadow the exchange’s demise.
Read the full story on Forbes: https://www.forbes.com/sites/brandonkochkodin/2022/11/11/the-red-flags-on-ftx-we-all-seemed-to-miss/?sh=26979af11f67
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Dividends are what got me into investing in the stock market. The thing to me is, if you invest and have other income outside of dividends then you will be able to live off dividends without selling. Which means you can pass that on to your kids which will give them a leg up in life. Have over $600K in my portfolio as I bought a lot of dividend stocks before, I'm buying more now, and I will buy more when it drops further.
Correct me if I’m wrong but 1:16 to 2:09 is the simplest explanation of this whole mess.
So the nerd started another "company" to transfer customer funds "through the back door". Translation, he stole all of your money in the name of "bad trades". Why would you give your hard earn money to this man if you did not know he was doing something bad to make you more money? Everyone that "invested" deserved what they got, that is why this nerd was smirking.
Red Flag #1: "I think I ought to 'invest' in a crypto 'currency' today…"
No surprise that David Rubenstein and the Carlyle group make an “appearance”. Carlyle Group 9/11
Not everyone missed the red flags. 🙄 Most just didn’t pay any attention.
Missed red-flags? Seriously?
What did Elizabeth holmes Theranos and SBF FTX have in common ? Forbes promoted them and they both committed fraud
wanna bet he dies MYSTERIOUSLY in his cell ?
Missed? ignored is the right word
You were willfully blind because he spoke woke and donated to your overlords. SBF was just following orders from the DNC.
Face it: with very few exceptions there is NO true investigative financial journalism. It is all FOMO, same as with the individuals who "invested "( gambled) on FTX. WSJ broke the story on Theranos, but that seems to be the exception
All crypto ceos been taken out like being killed out locked up
If he were black, he'd be in jail by now.
days after the story breaks, the man is partially admitting to fraud in numerous interviews and yet still not in cuffs. if i stole girlscout cookies id be in jail within the hour. to me, this is a true snapshot of what america has always and will always be- caucasian men raping and pillaging and then sitting around and talking about it trying to make it sound better… and no, i don't blame every caucasian man, and yes i do know caucasian men were hurt in this and other instances… but this frankly is the history of america. no im not some liberal sjw blm. im a capitalist. all im saying is, throughout the history of this corporation we call america, caucasian men just rape and pillage and then calmly talk about it- over and over and over. and they will do it to any and everyone- even to themselves.
I love how when things were going well he was this incredible genius, couldn't stop talking and doing interviews. Now, almost immediately when things go south, all of a sudden this guy doesn't know anything about anything. "What company? Idk… How does money work? Was I running a business?"
Forbes is a scam itself
Forbes in bed with sbf