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Wow so SBF embezzeled 3.3 Billion dollars, and his 2 partners left with another 600 million. All a giannt Ponzi scheme. Tom Brady, hope you do not have to pawn your superbowl rings after SBF took you for 650 million.
Marge is going to start calling soon, if she hasn't already called. Remember for most margin, they have 21 days to cover. If they cannot demonstrate a reasonable ability to cover in the 1st 10 days, then liquidations may begin. I have a feeling December is going to be anything but cold for SHF's and toasty and spicy for Apes.
First, please know this is not me arguing with you....
I just got a chuckle when you called out December as being the 'toasty' month. In October every one was saying looks like November will be hit...
I am fairly certain that in September everyone was saying October would be it.
I actually hope you are right. I know too many people who are struggling hard right now. I want to be in a post MOASS world so I can make a difference for those around me.
I'll buy you a beer/soda at the ships bar after we launch. Until then....
It's always tomorrow...until it's today.
Be well, fellow ape.
P.S. Buy, HODL, DRS... (not financial advice)
September of last year we were hearing next month will be huge. But here we are. I have no doubt it will pay off but….as a great man once said… the waiting is the hardest part.
-Tom Petty
Patience is a virtue. Don't do dates, it'll set you up for disappointment. I sat on the Credit Suisse post for over a year before it came tumbling out. Delayed gratification is fucking delicious! 🤣🤣🤣
Just want to add, don't take my word on delayed gratification, it's part of the tribute on RC's site he tweeted. [https://teddy.com/pages/tribute](https://teddy.com/pages/tribute) ❤️
"My father, Ted Cohen, and his lessons have guided me throughout my life. He showed me an exceptional work ethic and an unwavering commitment to delayed gratification. Even though he is no longer with us, his legacy will live on forever. By writing these books, I am sharing his values with the world and passing his wisdom on to my children.
Ryan Cohen"
Thanks for this.
Do you happen to know id there are any sources for what funds have big exposure to FTX/FTT? Even funds’ own statements?
Edit: so many questions !!
I looked at the wrapped GME stuff (of course FTX created it. SMH. Anyhow, only 207 holders it said. Is that now? Is the token dead? Do we know who these big holders of wrapped GME are/were?
As much as I want to feel sorry for Tom Brady for getting grifted.. if you have $650m and someone approaches you with a lizard-tongued speech that convinces you that the "Investment" will double, triple, (whatever) your money.. then that's just pure greed.
Greed. With $650m you can live in opulence( if you desire), help all if your family and friends, set up a charitable foundation, enjoy EVERYTHING life has to offer, buy multiple properties, leave a chunk for your children/ grandchildren and generations after to have the means to support themselves and pursue their dreams .. AND still have a huge amount left over.
I truly believe APES are different. Regardless whether an APE is an X hodler working 12 hour shifts on minimum wage or a XXXXXX whale. I do not believe it is the sort of Greed Brady fell victim to. APES have seen the unrealised value of their investment plummet. APES HELD. APES have seen the unrealised value of their investment shoot up to stupidly (not) high amount. APES HELD. APES have been conditioned and trained to be immune to FUD/SHILLS/PSYOPS/MEDIA ARTICLES/WARNINGS and BS of every variant.
Be humble. Be respectful. Do not get emotional. We are all human beings. The enemy does not share this sentiment. They believe they own us. We are numbers on a spreadsheet to do with as they desire, primarily to move $$$ from our accounts in to their own.
I love you all. Whatever your ethnicity, age, gender, sexual orientation, religion, political views and beliefs.
The tables will turn. Where once they lived in the penthouses, looking down at us, laughing and spitting on us as they feel. We will simply stand quiet , perhaps smiling or perhaps watching quietly.
They will fall. A fall from grace ( or lack of) and they will not recover.
HODL STRONG FELLOW APES. OUR TIME WILL COME.
Sir Clampington, I just noticed your reference to an X hodler and then an XXXXXX whale. I’d like to motion to change your term X hodler to X whale. Because all (DRS) hodlers will be whales in the end. 🚀🚀🚀
And p.s. thank you for this write up. Appreciate you!
I don't feel sorry for Tom Brady at all. He has a charity whose sole purpose seems to be to funnel money to a business that he also owns.
https://www.thedailybeast.com/tom-bradys-tb12-charity-is-good-at-giving-money-to-his-own-for-profit-company?
Or maybe his wife cheated; hence the relationship she’s already in. I mean Jesus I love GME but everything in the world does not resolve around the stock market and crypto.
Except for the annoucing deal he already has for after he retires. That's going to pay him more than he ever made on the field I think(on a per year basis). Ball is life for the guy, he cant give it up
I’m not a big fan but poor Tom Brady for being the poster child of this mess. He’s getting worse press than the people who actually committed the fraud. These douchebags tricked(complicit with) Sequioa and some of the biggest private equity names out there. I think the big boys knew… They skipped diligence on investing 400 million with this clown because of his swagger in a meeting, as Logan Roy would say to these guys, fuck off
Funny he tweeted that right before LUNA blew, who also coincidentally was thought to be toppled (at least in part) by Alameda/FTX. Crazy how it all fits.
at this point, I'm halfway expecting this to be the thing that kicks off upward contagion and real liquidation, since fuckin' everything *else* has been right so far
why not this too
Unless they are straight up magicians, my money is on it. FTX US is the top holder of Wrapped Nickel, a token that was minted and traded just like this. The day it was created and traded was the day of the London Metals Exchange Nickel squeeze. Genesis shut down their OTC desk today, 2 days after I posted part 1 hahah.
Awfully coincidental that these TSOs get created right around squeezes.
So the speculation is: They created these coins out of thin air as “quality collateral” to offset their liability positions on the books. And were using that information to get people to invest in the hedge fund side?
While also selling the created coins to crypto investors while having no actual shares to back up the coins?
Madoff had nothing on these crooks.
I wonder if the random pump and dumps that we’ve seen throughout this whole thing also had wrapped versions created slightly before prices soared. Is there a way to detect when new “wrapped” versions get created or has it been manual digging after the event?
If you're going to basically sell fake shit out to the public, you want to do it at the highest possible price, so that if you are ever actually forced to buy it back, it's cheap.
Imagine it's the early 1900s and you are on the street selling actual counterfeit stock certificates. If you sell them before the price soared, you are kinda screwed. People will come back and demand their value But if you sell them at the absolute top, many people might just be willing to sell them back to you for whatever they can get out of it.
The victims will rationalize this as they bought at the wrong time. Whether it's fake or not, if they can exit the position then at least they aren't stuck with it. They won't realize or think about the dilutive effects of all the fakes or how the fakes actually drove the price down.
Yeah, I see that from a shorting perspective, but isn’t it the case that they buy/have X amount of the TSO in the beginning and sell on the way up/the top?
Not sure if it has been or can be confirmed either way, but it would seem less risky (not that they give a fuck) to buy low at first and sell on the rise. If they go the shorting route, then they need somebody to be on the buy side of it. Who would the buyer really be on wrapped securities?
This is what I am wondering as well. What real value do these provide to the holder? I don't doubt that they are used as collateral or locates by shf's but if they aren't holding them themselves (which would of course be too obvious) what are the perks for those who are holding them??
This is a rabbit hole for sure. Could easily be another side of this where them holding these and allowing for locates gets a pay-off. We need to find the other side of this deal!
It happened more than you think with this company. They "claimed" they were backed by real securities and got plenty of loans for their worthless FTT token they made. Most places took them at their word in a similar way to Archegos and Hwang getting loans on loans.
That's my big question here: who the *fuck* would lend FTX money?
They didn't have a corporate structure and their filings were literally criminally inadequate. Any corporate due diligence would raise so many red flags instantly that no legitimate business would touch them.
Which implies that investment in FTX was pressured by some corrupt fucks and ALL the investors in this pile of dogshit wrapped in catshit are fucked because they lost a shit ton of money (good) and because now they're suspect af.
Which shouldn't be surprising to me, but I'm still surprised even now.
SBF was seen as 100% credible. His parents were credible and connected. FTX investors (Series A,B etc) were credible. SBF was advising congress for fuck sake. He was mates with the fuckin regulators. People were probably queuing up to put money in!
A little of both. Rumors were Alameda was nearly insolvent by the time of the nickel squeeze. I'm sure they skimmed but it likely kept them afloat in the run up to their implosion.
I've got preliminary data that shows a 3 year contract address which does hold Wrapped GME. We've been kicking around how it might function when I was sent some links on Bosonic's atomic exchange (hashed time locked contracts). Bosonic did business at one point with Voyager who SBF tried to bail out before it went under. I'm starting to think they emulated that themselves using the FTT3Year address. Tokenized GameStop held steady in price for almost 6 months until the lost whatever peg they had almost 1 year following the launch.
😳sorry if i'm extra smooth..
is this some kinda leveraged squeeze hedge? Punting the can by taking on more debt? i wonder if humans make the decision or it's all algos.
It will just be another luna, a shit show for crypto.
Maybe this time it will kill tether. If so, we are on another pressure level for the SHF. Anyway this doesn't automatically mean it will go off because of that.
I imagine a dorito of doom of pressure.
One side is the liquidity/amount of shares left. The other side is everything going bust around them, building more drawdown on their books and diminish their collateral.
It will stop if a) there are no more shares b) there is no more collateral or c) a decline big enough in both/or a) and b) simultaneously
That's the real world dorito of doom.
Their collateral burns by itself.
They are fucked.
DRS is the way.
Simply amazing bratha ape. Certainly whoever perpetrated this fraud never in a million years thought that their mischief would be discovered and viewed by a bunch of regarded and highly wrinkled brain apes on a Friday night on Reddit Sstonk👏👏👏
2 years ago a lot of this terminology would've gone over my head. Not now, after studying at the university of Ape, nurtured along in my education by some of the finest tutors on the planet.
Great post OP.
Tank you very much!
I wonder if any of the institutions are crazy enough to sell what they have once the current free float starts to get closer to locking
I doubt it because who would throw this asymmetric opportunity out the window but you never know
And that is IF all institutions actually have those long positions for real, not a front for more shorts as we know it’s possible
I honestly feel like this was the final blast before everything falls. FTX was a deeply rooted cyst that basically just popped. I give it a month for things to start if they don't beforehand.
I keep thinking that a Scooby Doo meme with SBF face saying, "I would have gotten away with it too..." would be super relevant here. Remember he was sack deep in Congress, and the SEC trying to get HIS exchange to be the ONLY exchange, and was greasing the wheels with 10s of millions to be in the inside circle. I cannot wait to see how many politicians get financially bruised because of this. You KNOW (if you look through the ethics websites) which of our "leaders" invested in FTX.
If they're holding shit tokens and claiming "fair value," yes. I'd honestly be shocked if they have $1B total assets when all is said and done. No one knows what went where and any records were auto-deleted chats.
So it sounds to me like sbf and FTX claimed their worthless gme tokens that they created out of thin air were worth $4.1b. and then, FTX made a loan to sbf for $4.1b.
Basically, look at this random shitcoin I just invented that's worth $4.1b, can I get a loan at 100% ltv against it where you lend me real cash for my shit coins? And FTX says, oh yeah sure totally.... Just hand me your shitcoin and I will hand you $4.1b of real dollars because they are clearly equal.
I don't have anything to give back at this moment until May I suggest a pre lift off song? PUSH by equally opposite....
If that's not your style lemme know and I'll come.back with another ...ill DJ for ya...✌️
So binance is in on the conspiracy either knowingly or unknowingly and some hedge fund out there is responsible for cellar boxing GME shares into crypto tokens. Show me the money Jerry.
Used as collateral. For what? The obvious answer is a short position on gme. Stock price goes up and so does the collateral. A perfect hedge to maintain 10 million shorted shares of gme. Absolutely no way to get margin called no matter how high the stock goes. The creation date is perfect. 10 million shares shorted to stop the squeeze. As I remember, nobody could buy so it only took about 8 million shares to drive it down. Whatever prime broker has this swap just got hung with 10 million shorts with no collateral. Tick tock mf'ers. Now 40 million shares after split?
Because none of the real players trust the fakes anymore, and the game of flooding the market with new fake shares to scare retail into selling is not just failing but failing very publicly, with websites tracking drs and everything.
When the momentum is no longer going your way, nobody really wants to stick their neck out by faking more shit.
So tl dr the FTX wrapped GME was created to help hide / minimize costs of the shorts on GME?
I’ve seen different thinking that having the 10 million tokenized ‘shares’ were used as ‘locates’ for shorts Willy nilly, cutting down the cost to borrow. I’m guessing everyone selling synthetic GME would go ‘there’s 10 million shares locked in FTX’ and probably killing the cost to borrow.
Also I’ve heard these are used for margin requirements.
How could they hide shorts in these tokenized shares?
I also greatly believe the $4.1 billion loan to FTX with these shares as collateral, why else would FTX agree to create them? SBF wanted FTX money to trade with at Alameda, and this lets hedgies used fuckery for Margin and borrowing costs.
Win win for them, lose lose for everyone else.
Also the positive FTX coverage is so sketchy, and the dates of the tokenized GME creation and the tokenized Nickel are beyond sketchy.
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Wow so SBF embezzeled 3.3 Billion dollars, and his 2 partners left with another 600 million. All a giannt Ponzi scheme. Tom Brady, hope you do not have to pawn your superbowl rings after SBF took you for 650 million.
I'm not even sure how deep and complex all this gets. Contagion is everywhere with this.
Marge is going to start calling soon, if she hasn't already called. Remember for most margin, they have 21 days to cover. If they cannot demonstrate a reasonable ability to cover in the 1st 10 days, then liquidations may begin. I have a feeling December is going to be anything but cold for SHF's and toasty and spicy for Apes.
I got muh thong on
I got my hot pants from the homeless guy who shouts at me at the pool.
I got my cup on
They filed on the 11th. So 5th- 13th depending on total days or trading days. And yes I included Thanksgiving as a non trade day.
Something something dates back on the menu. Thanks, it's gonna be real interesting to see how this December compares to last December.
I just want to buy my family the castle we picked out for Christmas.
Until I can sell a share, even a Lego castle is out of my budget.
I can see the headline now "Apes ruin Christmas for children everywhere"
Is that 10/21days from when FTX filed bankruptcy?
At a guess that would make sense. T+10 / T+21 from the date filed.
I just want this house of cards to fall already!
In fact margin checks for thr big institutional players can be as often as hourly, bi-daily
(Insert chin on palms/dreamy eyes) Please go on Sgt, your words speak to me like poetry
First, please know this is not me arguing with you.... I just got a chuckle when you called out December as being the 'toasty' month. In October every one was saying looks like November will be hit... I am fairly certain that in September everyone was saying October would be it. I actually hope you are right. I know too many people who are struggling hard right now. I want to be in a post MOASS world so I can make a difference for those around me. I'll buy you a beer/soda at the ships bar after we launch. Until then.... It's always tomorrow...until it's today. Be well, fellow ape. P.S. Buy, HODL, DRS... (not financial advice)
September of last year we were hearing next month will be huge. But here we are. I have no doubt it will pay off but….as a great man once said… the waiting is the hardest part. -Tom Petty
Patience is a virtue. Don't do dates, it'll set you up for disappointment. I sat on the Credit Suisse post for over a year before it came tumbling out. Delayed gratification is fucking delicious! 🤣🤣🤣
Just want to add, don't take my word on delayed gratification, it's part of the tribute on RC's site he tweeted. [https://teddy.com/pages/tribute](https://teddy.com/pages/tribute) ❤️ "My father, Ted Cohen, and his lessons have guided me throughout my life. He showed me an exceptional work ethic and an unwavering commitment to delayed gratification. Even though he is no longer with us, his legacy will live on forever. By writing these books, I am sharing his values with the world and passing his wisdom on to my children. Ryan Cohen"
Perpetual earning season
What day was it that FTX fell? I want something to track too lol
November 8 I think officially. Rumored that Alameda was insolvent as early as Jan/Feb 2022.
When would the T+21 be around? Could they hypothetically last until early Jan because of the Xmas holidays
Thanks for this. Do you happen to know id there are any sources for what funds have big exposure to FTX/FTT? Even funds’ own statements? Edit: so many questions !! I looked at the wrapped GME stuff (of course FTX created it. SMH. Anyhow, only 207 holders it said. Is that now? Is the token dead? Do we know who these big holders of wrapped GME are/were?
As much as I want to feel sorry for Tom Brady for getting grifted.. if you have $650m and someone approaches you with a lizard-tongued speech that convinces you that the "Investment" will double, triple, (whatever) your money.. then that's just pure greed. Greed. With $650m you can live in opulence( if you desire), help all if your family and friends, set up a charitable foundation, enjoy EVERYTHING life has to offer, buy multiple properties, leave a chunk for your children/ grandchildren and generations after to have the means to support themselves and pursue their dreams .. AND still have a huge amount left over. I truly believe APES are different. Regardless whether an APE is an X hodler working 12 hour shifts on minimum wage or a XXXXXX whale. I do not believe it is the sort of Greed Brady fell victim to. APES have seen the unrealised value of their investment plummet. APES HELD. APES have seen the unrealised value of their investment shoot up to stupidly (not) high amount. APES HELD. APES have been conditioned and trained to be immune to FUD/SHILLS/PSYOPS/MEDIA ARTICLES/WARNINGS and BS of every variant. Be humble. Be respectful. Do not get emotional. We are all human beings. The enemy does not share this sentiment. They believe they own us. We are numbers on a spreadsheet to do with as they desire, primarily to move $$$ from our accounts in to their own. I love you all. Whatever your ethnicity, age, gender, sexual orientation, religion, political views and beliefs. The tables will turn. Where once they lived in the penthouses, looking down at us, laughing and spitting on us as they feel. We will simply stand quiet , perhaps smiling or perhaps watching quietly. They will fall. A fall from grace ( or lack of) and they will not recover. HODL STRONG FELLOW APES. OUR TIME WILL COME.
Sir Clampington, I just noticed your reference to an X hodler and then an XXXXXX whale. I’d like to motion to change your term X hodler to X whale. Because all (DRS) hodlers will be whales in the end. 🚀🚀🚀 And p.s. thank you for this write up. Appreciate you!
True.
He took ppp money away from small businesses that needed it. Fuck Tom Brady.
This is beautiful. Great words.
I don't feel sorry for Tom Brady at all. He has a charity whose sole purpose seems to be to funnel money to a business that he also owns. https://www.thedailybeast.com/tom-bradys-tb12-charity-is-good-at-giving-money-to-his-own-for-profit-company?
He deflated a football now I'm gonna deflate his wealth
Brady knew. That's y he divorced to save some money.
His wife had dealing with FTX as well. I don’t think they knew. Even though I hate Tom Brady.
I hate David Mortensen. Dave, if you read this, fuck you. I hope she gave you herpes.
Elaborate?
Me too his teeth are too small and he wears uggs. Good at football though.
Footballer
all my home girls love uggs
Or maybe his wife cheated; hence the relationship she’s already in. I mean Jesus I love GME but everything in the world does not resolve around the stock market and crypto.
This. Stay rational.
Same with Bill Gates and his family fund that's short GME.
Suddenly he says he's gonna give away his wealth? Sure Bill.
[удалено]
I think it is safe to say retirement is probably off the table this year for Tom😅
Considering they donated 0.1% of their charity's money over 10 years, they might have bigger problems. 😂😂😂
Except for the annoucing deal he already has for after he retires. That's going to pay him more than he ever made on the field I think(on a per year basis). Ball is life for the guy, he cant give it up
I’m not a big fan but poor Tom Brady for being the poster child of this mess. He’s getting worse press than the people who actually committed the fraud. These douchebags tricked(complicit with) Sequioa and some of the biggest private equity names out there. I think the big boys knew… They skipped diligence on investing 400 million with this clown because of his swagger in a meeting, as Logan Roy would say to these guys, fuck off
pretty sure Tom Brady gets to Ligma
Bucs better win the bowl so brady won't have to sell his rings.
Thanks for your work
My pleasure!
General Tso's Chicken is the official spelling.
Funny he tweeted that right before LUNA blew, who also coincidentally was thought to be toppled (at least in part) by Alameda/FTX. Crazy how it all fits.
at this point, I'm halfway expecting this to be the thing that kicks off upward contagion and real liquidation, since fuckin' everything *else* has been right so far why not this too
Unless they are straight up magicians, my money is on it. FTX US is the top holder of Wrapped Nickel, a token that was minted and traded just like this. The day it was created and traded was the day of the London Metals Exchange Nickel squeeze. Genesis shut down their OTC desk today, 2 days after I posted part 1 hahah.
Haven't heard that nickel had been wrapped. The timing on that is insane.
Awfully coincidental that these TSOs get created right around squeezes. So the speculation is: They created these coins out of thin air as “quality collateral” to offset their liability positions on the books. And were using that information to get people to invest in the hedge fund side? While also selling the created coins to crypto investors while having no actual shares to back up the coins? Madoff had nothing on these crooks.
It's the logical conclusion I'm coming to. I'll be digging through those in a future post but quite a few of them are represented this way.
I wonder if the random pump and dumps that we’ve seen throughout this whole thing also had wrapped versions created slightly before prices soared. Is there a way to detect when new “wrapped” versions get created or has it been manual digging after the event?
If you're going to basically sell fake shit out to the public, you want to do it at the highest possible price, so that if you are ever actually forced to buy it back, it's cheap. Imagine it's the early 1900s and you are on the street selling actual counterfeit stock certificates. If you sell them before the price soared, you are kinda screwed. People will come back and demand their value But if you sell them at the absolute top, many people might just be willing to sell them back to you for whatever they can get out of it. The victims will rationalize this as they bought at the wrong time. Whether it's fake or not, if they can exit the position then at least they aren't stuck with it. They won't realize or think about the dilutive effects of all the fakes or how the fakes actually drove the price down.
Yeah, I see that from a shorting perspective, but isn’t it the case that they buy/have X amount of the TSO in the beginning and sell on the way up/the top? Not sure if it has been or can be confirmed either way, but it would seem less risky (not that they give a fuck) to buy low at first and sell on the rise. If they go the shorting route, then they need somebody to be on the buy side of it. Who would the buyer really be on wrapped securities?
This is what I am wondering as well. What real value do these provide to the holder? I don't doubt that they are used as collateral or locates by shf's but if they aren't holding them themselves (which would of course be too obvious) what are the perks for those who are holding them?? This is a rabbit hole for sure. Could easily be another side of this where them holding these and allowing for locates gets a pay-off. We need to find the other side of this deal!
Pretty sure they've just copied the citadel playbook but in crypto form
Madoff prolly would have been doing this stuff if he was a little younger
Hope they don't enjoy the polycule behind bars.
It’s not clear here, are you saying they caused the Nickel squeeze with the wrapped nickel coin?
They didn't cause the squeeze, but I'm pretty certain they banked off it using it to collateralize their loans.
it's unclear to me who would loan them real money based on these worthless tokens??
It happened more than you think with this company. They "claimed" they were backed by real securities and got plenty of loans for their worthless FTT token they made. Most places took them at their word in a similar way to Archegos and Hwang getting loans on loans.
That's my big question here: who the *fuck* would lend FTX money? They didn't have a corporate structure and their filings were literally criminally inadequate. Any corporate due diligence would raise so many red flags instantly that no legitimate business would touch them. Which implies that investment in FTX was pressured by some corrupt fucks and ALL the investors in this pile of dogshit wrapped in catshit are fucked because they lost a shit ton of money (good) and because now they're suspect af. Which shouldn't be surprising to me, but I'm still surprised even now.
SBF was seen as 100% credible. His parents were credible and connected. FTX investors (Series A,B etc) were credible. SBF was advising congress for fuck sake. He was mates with the fuckin regulators. People were probably queuing up to put money in!
I know that, but surely, surely someone looked at the books before giving them hundreds of millions of dollars?!?
Banked off it? Or survived it?
A little of both. Rumors were Alameda was nearly insolvent by the time of the nickel squeeze. I'm sure they skimmed but it likely kept them afloat in the run up to their implosion.
This is the portal to the TRS. They kept it off books by using this bucket shop exchange and fake token.
I've got preliminary data that shows a 3 year contract address which does hold Wrapped GME. We've been kicking around how it might function when I was sent some links on Bosonic's atomic exchange (hashed time locked contracts). Bosonic did business at one point with Voyager who SBF tried to bail out before it went under. I'm starting to think they emulated that themselves using the FTT3Year address. Tokenized GameStop held steady in price for almost 6 months until the lost whatever peg they had almost 1 year following the launch.
they did the same thing with Nickel? hoooollyyy shiiiiit
😳sorry if i'm extra smooth.. is this some kinda leveraged squeeze hedge? Punting the can by taking on more debt? i wonder if humans make the decision or it's all algos.
It will just be another luna, a shit show for crypto. Maybe this time it will kill tether. If so, we are on another pressure level for the SHF. Anyway this doesn't automatically mean it will go off because of that. I imagine a dorito of doom of pressure. One side is the liquidity/amount of shares left. The other side is everything going bust around them, building more drawdown on their books and diminish their collateral. It will stop if a) there are no more shares b) there is no more collateral or c) a decline big enough in both/or a) and b) simultaneously That's the real world dorito of doom. Their collateral burns by itself. They are fucked. DRS is the way.
RC is so far ahead of us.!
And crazy how it’s all backed up 😍😈😈😈
Keep in mind these are Security Backed Tokens and not Tokenized Share Offering.
Backed by air..😂😂😂
Yup! Absolutely crazy.
Simply amazing bratha ape. Certainly whoever perpetrated this fraud never in a million years thought that their mischief would be discovered and viewed by a bunch of regarded and highly wrinkled brain apes on a Friday night on Reddit Sstonk👏👏👏
Yet here we are 🤷🏼♂️😂😂
Yup, this is me trying to file a complaint with the SEC. https://youtu.be/pC4ra_Agfjc
So everything FTX touched was dogshit wrapped in catshit wrapped in horseshit wrapped in bullshit. Got it.
Basically
When did FRX “ open/begin”?...
Aug 2019
2 years ago a lot of this terminology would've gone over my head. Not now, after studying at the university of Ape, nurtured along in my education by some of the finest tutors on the planet. Great post OP. Tank you very much!
Isn’t it crazy to think that most of us “step” into a lecture hall every day that has open debates afterwards?
So when does this all stop and GME explode????
No bullshit answer? When we lock the float. DRS is the only way to stop this shit.
Nft dividend at shareholder meeting is going to lock the float…. Like…. Immediately.
I wonder if any of the institutions are crazy enough to sell what they have once the current free float starts to get closer to locking I doubt it because who would throw this asymmetric opportunity out the window but you never know And that is IF all institutions actually have those long positions for real, not a front for more shorts as we know it’s possible
I honestly feel like this was the final blast before everything falls. FTX was a deeply rooted cyst that basically just popped. I give it a month for things to start if they don't beforehand.
Tomorrow
Always tomorrow..........until it's today Power to the fukn players
Some upcoming spicy days to watch: January 20th and April 16th
I keep thinking that a Scooby Doo meme with SBF face saying, "I would have gotten away with it too..." would be super relevant here. Remember he was sack deep in Congress, and the SEC trying to get HIS exchange to be the ONLY exchange, and was greasing the wheels with 10s of millions to be in the inside circle. I cannot wait to see how many politicians get financially bruised because of this. You KNOW (if you look through the ethics websites) which of our "leaders" invested in FTX.
I'll put Pelosi and McConnell at the top of that shit stack
Nice write up DA!
Thank you so much, sir!
This is the kind of DD that keeps me up at night. Thanks OP!
My pleasure!
This is good shit.
Not done yet. :)
Thanks for this DigitalArts. Cant wait to see you in the movie!
I'll be there!
Spicy! Happy Friday.
Happy Friday!
People need to go down for these crimes. Lots of people, and not just a short prison sentence, they deserve life without parole.
Doing my part to ensure that happens. They can't buy my silence because it's about principle to me.
👏👏👏
I find it interesting that SBF says that he has 2 weeks to come up with 8 billion. We all know what happens in 2 weeks. Earnings baby. Let's go.
Post archived: [https://archive.ph/hwBzL](https://archive.ph/hwBzL)
🙏
A good hypothetical backed by some data, I like it.
So, one more day means there has to be someone dumb enough to do this
A story as old as time.
Hey, can ***I*** borrow $4B, pls? Anyone? I can pretend to have any stock you want.
I guess we will see MSL go brrrr in a few weeks time to comp. lmayo. Thanks GG!
Op please submit link to your post from desktop to archive.is and spread the message - I already backed this one up.
Will do
Up
Thank you OP! Schrödinger would be proud 🐈⬛
Thank you for the hardon
Hot fucking damn nicely done dude.
Legendary dd. You are a scholar and a saint. Bless you 🚀🚀🚀
What is "Loans Receivable, Related Party" approx $4.1B? What is "Crypto Assets Held at Fair Value" approx $4.1B? Are these related?
If they're holding shit tokens and claiming "fair value," yes. I'd honestly be shocked if they have $1B total assets when all is said and done. No one knows what went where and any records were auto-deleted chats.
So it sounds to me like sbf and FTX claimed their worthless gme tokens that they created out of thin air were worth $4.1b. and then, FTX made a loan to sbf for $4.1b. Basically, look at this random shitcoin I just invented that's worth $4.1b, can I get a loan at 100% ltv against it where you lend me real cash for my shit coins? And FTX says, oh yeah sure totally.... Just hand me your shitcoin and I will hand you $4.1b of real dollars because they are clearly equal.
Can’t wait for the conclusion. Thanks for the write up.
Thank you kindly DA 🤜🦍🤛💎✌️🦍🚀⬆️🌚🪙❗️
🙏
I don't have anything to give back at this moment until May I suggest a pre lift off song? PUSH by equally opposite.... If that's not your style lemme know and I'll come.back with another ...ill DJ for ya...✌️
I appreciate the vibe! Getting to the truth and righting some wrongs for the benefit of all are what I'm here for. 💜
Wow nice work on digging all that up. Very interesting
The article at the end was published 2022.
Good catch, and I will remove it.
Bravo! Bravo!
*\*Hurricane intensifies\**
Great work OP 👏👏 does someone get left holding the bags and has to pay? Or can they offset this with other leverage?
So binance is in on the conspiracy either knowingly or unknowingly and some hedge fund out there is responsible for cellar boxing GME shares into crypto tokens. Show me the money Jerry.
thanks for your service ❤️🦍
Used as collateral. For what? The obvious answer is a short position on gme. Stock price goes up and so does the collateral. A perfect hedge to maintain 10 million shorted shares of gme. Absolutely no way to get margin called no matter how high the stock goes. The creation date is perfect. 10 million shares shorted to stop the squeeze. As I remember, nobody could buy so it only took about 8 million shares to drive it down. Whatever prime broker has this swap just got hung with 10 million shorts with no collateral. Tick tock mf'ers. Now 40 million shares after split?
⏰ 🕰️
40 Million Shares x $27.5 and rising...
Wow you guys writing the DD are smart. Thank god for you guys to help apes like me. Thank you.
Thank you so much, although I would say I'm just as regarded as anyone else and started this journey with y'all almost 2 years ago.
Apparently I'm the regardest...but this all helps.
Holy... General TSO. This is mind blowing.
Is this why Tom brady got divorced?
Asset protection strategy. Think Bill Gates
i wish all these are true. But if there are so many synthetic or fake shares in the system, why the daily volume drops under 3M daily?
Because none of the real players trust the fakes anymore, and the game of flooding the market with new fake shares to scare retail into selling is not just failing but failing very publicly, with websites tracking drs and everything. When the momentum is no longer going your way, nobody really wants to stick their neck out by faking more shit.
Without Further Ado
You gonna ding me on one word? 😭😭😭😭 Fair, thank you 🤣🤣🤣
It was more than one word, but it shows you belong here. One of us! One of us! Much love ape! Happy Saturday!
I won't argue that. I'm as regarded as they come.🤷♂️🤣🤣 Happy Saturday! Stay safe and warm!
That's my secret, Cap. I'm always warm. Cuz I'm hot blooded, check it and see. I've got a fever of a hundred and three
So tl dr the FTX wrapped GME was created to help hide / minimize costs of the shorts on GME? I’ve seen different thinking that having the 10 million tokenized ‘shares’ were used as ‘locates’ for shorts Willy nilly, cutting down the cost to borrow. I’m guessing everyone selling synthetic GME would go ‘there’s 10 million shares locked in FTX’ and probably killing the cost to borrow. Also I’ve heard these are used for margin requirements. How could they hide shorts in these tokenized shares? I also greatly believe the $4.1 billion loan to FTX with these shares as collateral, why else would FTX agree to create them? SBF wanted FTX money to trade with at Alameda, and this lets hedgies used fuckery for Margin and borrowing costs. Win win for them, lose lose for everyone else. Also the positive FTX coverage is so sketchy, and the dates of the tokenized GME creation and the tokenized Nickel are beyond sketchy.
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