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"When greed takes over, empires fall. Learn from FTX: Trust is the real currency."
#Crypto #FTX #CryptoMindset #LessonsLearned
#Crypto #FTX #CryptoMindset #LessonsLearned
"Crypto's Crown Prince... To Convict: The Rise, Deceit, Exposure, and Fall of Sam Bankman-Fried
Once celebrated as the "Next Warren Buffett" of crypto,
Sam Bankman-Fried (SBF) was seen as the savior of Web3.
His exchange, FTX, was valued at a staggering $32 Billion.
He was the poster boy of crypto revolution.
But behind the glittering facade, a ticking bomb was hiding...
The Strategy of Deception:
SBF promised users their funds were "safely stored".
Behind the scenes, billions were secretly funneled into his private hedge fund, Alameda Research.
"Guaranteed returns" promises and massive political lobbying painted a picture of invincibility.
The Reality:
Customers' money was used for high-risk gambling.
Hidden leverage, fake valuations, and internal loans were rampant.
The Exposure:
In early November 2022, a leaked balance sheet from Alameda Research surfaced, exposing their financial black hole.
CoinDesk, a major crypto news outlet, published the report.
Panic gripped the market.
CZ (Binance CEO) publicly announced selling all FTX's native token holdings ($FTT) citing "risk management".
This triggered a chain reaction —
massive withdrawals, liquidity crunch, and the ultimate downfall!
The Collapse:
In just 72 hours, FTX filed for bankruptcy.
Billions vanished.
Dreams shattered.
Crypto's biggest betrayal unfolded live.
The Judgment:
In March 2024, Sam Bankman-Fried was sentenced to 25 years in prison for fraud, conspiracy, and money laundering.
From the king of crypto to a convicted criminal —
his fall shook the entire financial world.
Industry Giants Reacted:
Brian Armstrong (Coinbase CEO):
"Trust must be earned — not bought with marketing dollars."
Elon Musk:
"If something sounds too good to be true... it probably is."
CZ Binance:
"Transparency > Hype. Always."
Key Takeaway:
Always verify, don't just trust.
Flashy marketing is not proof of solvency.
In crypto, safety lies in education and self-custody.
#StaySafeInCrypto
#CryptoThriller
#FTXScandal
#Cryptoeducation🔥
#BinanceSquare
#DeFiAwareness
Once celebrated as the "Next Warren Buffett" of crypto,
Sam Bankman-Fried (SBF) was seen as the savior of Web3.
His exchange, FTX, was valued at a staggering $32 Billion.
He was the poster boy of crypto revolution.
But behind the glittering facade, a ticking bomb was hiding...
The Strategy of Deception:
SBF promised users their funds were "safely stored".
Behind the scenes, billions were secretly funneled into his private hedge fund, Alameda Research.
"Guaranteed returns" promises and massive political lobbying painted a picture of invincibility.
The Reality:
Customers' money was used for high-risk gambling.
Hidden leverage, fake valuations, and internal loans were rampant.
The Exposure:
In early November 2022, a leaked balance sheet from Alameda Research surfaced, exposing their financial black hole.
CoinDesk, a major crypto news outlet, published the report.
Panic gripped the market.
CZ (Binance CEO) publicly announced selling all FTX's native token holdings ($FTT) citing "risk management".
This triggered a chain reaction —
massive withdrawals, liquidity crunch, and the ultimate downfall!
The Collapse:
In just 72 hours, FTX filed for bankruptcy.
Billions vanished.
Dreams shattered.
Crypto's biggest betrayal unfolded live.
The Judgment:
In March 2024, Sam Bankman-Fried was sentenced to 25 years in prison for fraud, conspiracy, and money laundering.
From the king of crypto to a convicted criminal —
his fall shook the entire financial world.
Industry Giants Reacted:
Brian Armstrong (Coinbase CEO):
"Trust must be earned — not bought with marketing dollars."
Elon Musk:
"If something sounds too good to be true... it probably is."
CZ Binance:
"Transparency > Hype. Always."
Key Takeaway:
Always verify, don't just trust.
Flashy marketing is not proof of solvency.
In crypto, safety lies in education and self-custody.
#StaySafeInCrypto
#CryptoThriller
#FTXScandal
#Cryptoeducation🔥
#BinanceSquare
#DeFiAwareness
🚨 Shaq settles with FTX investors in secret deal after months of dodging legal docs.
Also paid $11M in Astrals NFT case. Celebrity crypto promos keep landing stars in court.
Full details: https://coinchapter.com/shaquille-oneal-finalizes-confidential-settlement-in-21-billion-ftx-lawsuit/
#FTX #Shaq #CryptoLawsuit
Also paid $11M in Astrals NFT case. Celebrity crypto promos keep landing stars in court.
Full details: https://coinchapter.com/shaquille-oneal-finalizes-confidential-settlement-in-21-billion-ftx-lawsuit/
#FTX #Shaq #CryptoLawsuit
🚨SHAQ SETTLES #FTX CLASS ACTION LAWSUIT
🔹Shaquille O'Neal reaches confidential settlement in FTX case
🔹Plaintiffs say he helped promote unregistered securities
🔹Legal drama included 20+ failed serve attempts, finally served at NBA playoff game
🔹Shaq: “Just a paid spokesperson”
🔹Lawsuit also targets Tom Brady, Gisele Bündchen & Larry David
🔹FTX collapsed in 2022; SBF convicted in 2023
#Shaq #CryptoLawsuit #SamBankmanFried
-The Block
🔹Shaquille O'Neal reaches confidential settlement in FTX case
🔹Plaintiffs say he helped promote unregistered securities
🔹Legal drama included 20+ failed serve attempts, finally served at NBA playoff game
🔹Shaq: “Just a paid spokesperson”
🔹Lawsuit also targets Tom Brady, Gisele Bündchen & Larry David
🔹FTX collapsed in 2022; SBF convicted in 2023
#Shaq #CryptoLawsuit #SamBankmanFried
-The Block
🚨SHAQ SETTLES ASTRALS NFT LAWSUIT FOR $11M
🔻Florida judge approves $11M class-action settlement
🔻Case involved Shaquille O’Neal’s promotion of Astrals NFTs & GLXY tokens
🔻Buyers alleged promotion of unregistered securities
🔹Includes $2.9M in legal fees
🔹O’Neal was active in project’s Discord, using memes to boost hype
🔻As NFT market crashed, he distanced himself, frustrating holders
🔻Also still facing legal issues over FTX promotions$FTT
$ETH
🔻Florida judge approves $11M class-action settlement
🔻Case involved Shaquille O’Neal’s promotion of Astrals NFTs & GLXY tokens
🔻Buyers alleged promotion of unregistered securities
🔹Includes $2.9M in legal fees
🔹O’Neal was active in project’s Discord, using memes to boost hype
🔻As NFT market crashed, he distanced himself, frustrating holders
🔻Also still facing legal issues over FTX promotions$FTT
$ETH
BREAKING: Shaq Settles FTX Lawsuit, Terms Kept Secret
NBA legend Shaquille O'Neal has reached a confidential settlement with FTX investors, according to an April 23 court filing in Florida.
The settlement ends a legal battle where investors accused O'Neal of contributing to their losses by promoting the now-bankrupt crypto exchange.
This resolution comes shortly after O'Neal's separate $11 million settlement over the Astrals NFT project. The #FTX litigation continues against other celebrity promoters as investors seek up to $21 billion in damages.
Will this settlement set a precedent for the other celebrity defendants facing similar accusations? #CryptoNews
NBA legend Shaquille O'Neal has reached a confidential settlement with FTX investors, according to an April 23 court filing in Florida.
The settlement ends a legal battle where investors accused O'Neal of contributing to their losses by promoting the now-bankrupt crypto exchange.
This resolution comes shortly after O'Neal's separate $11 million settlement over the Astrals NFT project. The #FTX litigation continues against other celebrity promoters as investors seek up to $21 billion in damages.
Will this settlement set a precedent for the other celebrity defendants facing similar accusations? #CryptoNews
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FTX founder SBF was transferred to the "celebrity prison" Terminal Island, starting a new chapter in his sentence!
FTX founder Sam Bankman-Fried (SBF), who was sentenced to 25 years in prison for planning one of the largest financial frauds in history, was recently transferred from the Victimville Prison in California, which is known for its frequent violence, to the Terminal Island Federal Correctional Institution, which has a relatively superior environment.
This low-security prison on the Los Angeles waterfront has housed "famous criminals" such as gangster godfather Al Capone, cult leader Charles Manson and LSD advocate Timothy Leary. The prison is known for its water views, vocational training and low violence levels.
This transfer marks a significant improvement in SBF’s prison environment. Unlike the previous Victorville prison, which was rampant with gangs and stabbings, the Terminal Island prison provides prisoners with a legal library, health programs, and vocational skills training such as welding and cooking.
People familiar with the matter revealed that the prison is considered a "prime choice for political prisoners" due to its well-managed management, and currently also holds other white-collar criminals such as video game entrepreneur Mouli Cohen.
The comfortable new surroundings did not mean the end of SBF's legal troubles, however. The 33-year-old former "cryptocurrency star" is still appealing charges including wire fraud and is actively seeking a presidential pardon from Trump.
Previously, he caused a public opinion storm by accepting an exclusive interview with Tucker Carlson in Brooklyn Jail, which led to his being placed in solitary confinement and losing his public relations consultant.
Now that he has been transferred to this "celebrity prison", whether this means that SBF is preparing to launch a new public opinion offensive is worth continued attention.
Conclusion:
From being the helmsman of the crypto empire to being thrown into prison, SBF's life has been full of ups and downs, like a real-life version of "The Wolf of Wall Street". His transfer to this special prison that has held countless celebrities may indicate that he is trying to reshape his narrative behind bars. But no matter how the environment changes, the scars caused by its financial fraud to the industry will still take time to heal.
Meanwhile, as Sam Bankman-Fried's prison environment changes and his appeals continue, his future fate and the outcome of his legal battles remain uncertain.
#FTX #SBF #加密货币 #金融诈骗
FTX founder Sam Bankman-Fried (SBF), who was sentenced to 25 years in prison for planning one of the largest financial frauds in history, was recently transferred from the Victimville Prison in California, which is known for its frequent violence, to the Terminal Island Federal Correctional Institution, which has a relatively superior environment.
This low-security prison on the Los Angeles waterfront has housed "famous criminals" such as gangster godfather Al Capone, cult leader Charles Manson and LSD advocate Timothy Leary. The prison is known for its water views, vocational training and low violence levels.
This transfer marks a significant improvement in SBF’s prison environment. Unlike the previous Victorville prison, which was rampant with gangs and stabbings, the Terminal Island prison provides prisoners with a legal library, health programs, and vocational skills training such as welding and cooking.
People familiar with the matter revealed that the prison is considered a "prime choice for political prisoners" due to its well-managed management, and currently also holds other white-collar criminals such as video game entrepreneur Mouli Cohen.
The comfortable new surroundings did not mean the end of SBF's legal troubles, however. The 33-year-old former "cryptocurrency star" is still appealing charges including wire fraud and is actively seeking a presidential pardon from Trump.
Previously, he caused a public opinion storm by accepting an exclusive interview with Tucker Carlson in Brooklyn Jail, which led to his being placed in solitary confinement and losing his public relations consultant.
Now that he has been transferred to this "celebrity prison", whether this means that SBF is preparing to launch a new public opinion offensive is worth continued attention.
Conclusion:
From being the helmsman of the crypto empire to being thrown into prison, SBF's life has been full of ups and downs, like a real-life version of "The Wolf of Wall Street". His transfer to this special prison that has held countless celebrities may indicate that he is trying to reshape his narrative behind bars. But no matter how the environment changes, the scars caused by its financial fraud to the industry will still take time to heal.
Meanwhile, as Sam Bankman-Fried's prison environment changes and his appeals continue, his future fate and the outcome of his legal battles remain uncertain.
#FTX #SBF #加密货币 #金融诈骗
Phebe Groeschel u1ud:
安排
🚨SBF #MOVED AGAIN TO LOW-SECURITY PRISON
🔹FTX co-founder Sam Bankman-Fried transferred to FCI Terminal Island, LA
🔹Previously held at Victorville, a more violent medium-security facility
🔹Legal team cited autism & clean criminal record to justify move
🔹New prison offers lower risk & better conditions
#FTX #SBF #PrisonTransfer
_Decrypt$FTT
🔹FTX co-founder Sam Bankman-Fried transferred to FCI Terminal Island, LA
🔹Previously held at Victorville, a more violent medium-security facility
🔹Legal team cited autism & clean criminal record to justify move
🔹New prison offers lower risk & better conditions
#FTX #SBF #PrisonTransfer
_Decrypt$FTT
🚨SBF SENT TO 'VICTIMVILLE' PRISON
Location: Sam Bankman-Fried has been moved to the Victorville Medium II FCI in Southern California, a notorious facility known for its brutality.
He was sentenced to 25 years for defrauding users, marking one of the U.S.'s largest financial crimes.
Security: The prison has a reputation for high violence, particularly due to gang involvement and aggressive prison politics.
Transfer: This follows Bankman-Fried's time at an Oklahoma Transfer Center after serving over 18 months at the Metropolitan Detention Center in Brooklyn.
A federal prison expert noted that medium-security prisons like Victorville tend to have harsher conditions, especially on the West Coast.
$ETH
Location: Sam Bankman-Fried has been moved to the Victorville Medium II FCI in Southern California, a notorious facility known for its brutality.
He was sentenced to 25 years for defrauding users, marking one of the U.S.'s largest financial crimes.
Security: The prison has a reputation for high violence, particularly due to gang involvement and aggressive prison politics.
Transfer: This follows Bankman-Fried's time at an Oklahoma Transfer Center after serving over 18 months at the Metropolitan Detention Center in Brooklyn.
A federal prison expert noted that medium-security prisons like Victorville tend to have harsher conditions, especially on the West Coast.
$ETH
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The following program #FTX
Shaquille O'Neal reaches a settlement in his FTX lawsuit, but the terms remain secret
Shaquille O'Neal has reached a settlement in a lawsuit from FTX investors against celebrities who promoted the cryptocurrency exchange.
Shaquille O'Neal reaches a settlement in his FTX lawsuit, but the terms remain secret
News
Shaquille O'Neal has reached a settlement with investors claiming losses from the collapse of the FTX cryptocurrency exchange, according to a filing on April 23 in the U.S. District Court for the Southern District of Florida.
The amount of the settlement remains confidential, and the terms are expected to be revealed after the investors formally request preliminary approval from the court, according to court documents.
O'Neal and other celebrities and athletes were accused of promoting FTX and allegedly contributing to investors' losses by endorsing the now-bankrupt exchange.
Shaquille O'Neal reaches a settlement in his FTX lawsuit, but the terms remain secret
Shaquille O'Neal has reached a settlement in a lawsuit from FTX investors against celebrities who promoted the cryptocurrency exchange.
Shaquille O'Neal reaches a settlement in his FTX lawsuit, but the terms remain secret
News
Shaquille O'Neal has reached a settlement with investors claiming losses from the collapse of the FTX cryptocurrency exchange, according to a filing on April 23 in the U.S. District Court for the Southern District of Florida.
The amount of the settlement remains confidential, and the terms are expected to be revealed after the investors formally request preliminary approval from the court, according to court documents.
O'Neal and other celebrities and athletes were accused of promoting FTX and allegedly contributing to investors' losses by endorsing the now-bankrupt exchange.
A **crypto#MarketRebound is a price recovery after a sharp drop, often driven by improved sentiment, macro trends (like Fed rate cuts), or crypto-specific events (#EFT , #HalvingCountdown ). These rebounds can be swift and volatile—sometimes temporary ("dead cat bounce") or the start of a new bull market (confirmed by rising volumes and fundamentals). Examples include#bitcoin 2023 rebound ($16K → $45K) post-#FTX collapse. Key catalysts today include the 2024 Bitcoin halving, potential
Ethereum ETF approvals, and institutional
adoption. Investors should watch trends cautiously—DCA (dollar-cost averaging) reduces risk if entering during a rebound.
Ethereum ETF approvals, and institutional
adoption. Investors should watch trends cautiously—DCA (dollar-cost averaging) reduces risk if entering during a rebound.
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SBF was once hailed as the richest post-90s entrepreneur who built his wealth from scratch.
Later, after FTX rose, he kept making unexpected investments.
A few years ago, I went to the U.S. to watch a football game and saw that the entire stadium was sponsored by FTX.
At that time, I thought they were going to go down.
Including when they were at their peak, they actually sponsored F1 racing.
It later proved to all be misappropriation of retail investors' money.
When FTX had its problems, BTC was at 4-5 thousand; now it’s 9 thousand.
The explosive-haired guy was sentenced to 25 years; when he gets out, BTC’s price will be unknown.
(As a mortal enemy, Binance doesn’t even give #SFB this tag, hahahaha)
#ftx #btc #内容挖矿
Later, after FTX rose, he kept making unexpected investments.
A few years ago, I went to the U.S. to watch a football game and saw that the entire stadium was sponsored by FTX.
At that time, I thought they were going to go down.
Including when they were at their peak, they actually sponsored F1 racing.
It later proved to all be misappropriation of retail investors' money.
When FTX had its problems, BTC was at 4-5 thousand; now it’s 9 thousand.
The explosive-haired guy was sentenced to 25 years; when he gets out, BTC’s price will be unknown.
(As a mortal enemy, Binance doesn’t even give #SFB this tag, hahahaha)
#ftx #btc #内容挖矿
See original
Former SEC Chairman Jay Clayton sworn in as Acting U.S. Attorney in Manhattan
The nominee by Trump, Jay Clayton, has been appointed as the Acting U.S. Attorney for the Southern District of New York after Democratic Senate leader Chuck Schumer blocked his confirmation vote.
Former SEC Chairman Jay Clayton confirmed he has been appointed as the Acting U.S. Attorney for the Southern District of New York after the Democratic Senate leader used a "blue slip" to prevent a confirmation vote on Clayton's position.
The appointment comes more than five months after U.S. President Donald Trump nominated Clayton for the role. He replaces Damian Williams, who played a key role in convicting former FTX CEO Sam Bankman-Fried and other high-profile cryptocurrency cases.
Clayton stated on April 22 that his top priority is to protect public safety, ensure the integrity of the U.S. financial system, safeguard national security interests, and combat fraud, particularly against the elderly and the most vulnerable.
The temporary nature of Clayton's appointment is due to Democratic Minority Leader in the Senate Chuck Schumer using a blue slip to block Clayton's confirmation on April 16, effectively preventing a Senate vote and his official confirmation to the position.
Senators can use a blue slip to block nominees for U.S. Attorney or district court judges in their state. #FTX
The nominee by Trump, Jay Clayton, has been appointed as the Acting U.S. Attorney for the Southern District of New York after Democratic Senate leader Chuck Schumer blocked his confirmation vote.
Former SEC Chairman Jay Clayton confirmed he has been appointed as the Acting U.S. Attorney for the Southern District of New York after the Democratic Senate leader used a "blue slip" to prevent a confirmation vote on Clayton's position.
The appointment comes more than five months after U.S. President Donald Trump nominated Clayton for the role. He replaces Damian Williams, who played a key role in convicting former FTX CEO Sam Bankman-Fried and other high-profile cryptocurrency cases.
Clayton stated on April 22 that his top priority is to protect public safety, ensure the integrity of the U.S. financial system, safeguard national security interests, and combat fraud, particularly against the elderly and the most vulnerable.
The temporary nature of Clayton's appointment is due to Democratic Minority Leader in the Senate Chuck Schumer using a blue slip to block Clayton's confirmation on April 16, effectively preventing a Senate vote and his official confirmation to the position.
Senators can use a blue slip to block nominees for U.S. Attorney or district court judges in their state. #FTX
Sphere was about to launch its in late 2022 before FTX blew. While discouraging, the moment proved to be perfect timing for finding real customers for its cross-border #stablecoin rails
#Stablecoins #solana #crypto #ftx
#Stablecoins #solana #crypto #ftx
Why do I trust DEX exchanges more than CEX?
#CEX exchanges are convenient—you can quickly buy a token or participate in various rewarded activities. But there’s a hidden drawback: centralization. Your funds are managed by a private individual or company. During a bull market, everything seems fine, and problems can be brushed aside. But in a bear market, not everyone can handle the lack of massive financial flows, and it becomes clear who has actual reserves and who’s bought a new villa or yacht (looking at you, #FTX ). A recent example is the theft of $ETH worth $1.5 billion from #Bybit .
Yes, the exchange managed to handle it, buying back #Ethereum to ensure normal operations, proving they have sufficient reserves and can deal with challenges. But who can guarantee that a similar situation won’t lead to a collapse in the future? That’s why I use CEX for quick trades and speculation, but for long-term solutions, like storing crypto, I rely on non-custodial wallets or even hardware ones. For token swaps on the #TON network, I use STON.fi because I trust its reliability. Tools like staking and liquidity pools, also available on STON.fi, allow you to not just hold crypto but earn passive income from it.
Yes, the exchange managed to handle it, buying back #Ethereum to ensure normal operations, proving they have sufficient reserves and can deal with challenges. But who can guarantee that a similar situation won’t lead to a collapse in the future? That’s why I use CEX for quick trades and speculation, but for long-term solutions, like storing crypto, I rely on non-custodial wallets or even hardware ones. For token swaps on the #TON network, I use STON.fi because I trust its reliability. Tools like staking and liquidity pools, also available on STON.fi, allow you to not just hold crypto but earn passive income from it.
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