Atrioc didnt really explain it well. The answer is banks are not brokerages and exchanges. When you deposit money on a bank, part of the contract you sign is that the bank will invest your deposit and they may in fact fail and you won't get all your money back. The banks isn't secretly investing your money, it's literally how their business operates. Because of this, there are a lot of laws and regulations and insurance that banks have to abide by to minimize this risk of customer deposits being lost due to bad investments(mostly loans) by the bank. When you deposit funds or stocks or crypto with a brokerage, the brokerage is not supposed to invest your funds. This is because they are not banks and are purely a custodian of your funds. A brokerage generates a profit by selling services to their customers for a fee, not by investing customer funds. What SBF did was secretly steal customer funds to invest. This is completely illegal because FTX is not a bank, but a brokerage.
Also the regulation bit is huge. "Real banks" can only invest a portion of customer funds in certain assets as a result of Dodd Frank and the Volcker Rule. It's been relaxed since 2020 but is still quite strict, PLUS their portfolios have to pass very vigorous stress tests that simulate various asset crashes. On the other side the very best you can get on a crypto exchange is them paying an auditor to verify assets and a "trust us bro" guarantee - you can tell by how many exchanges have failed in the past how much that's worth.
counterexample; i was a senior when covid first hit in 2020 two of my (memorization-heavy) finals became open book, my biggest entire-semester project essentially halved its requirements, and every single one of my teachers waived a certain amount of assignments if they were incomplete. Lots of "i'm sorry a catastrophic event ruined the best year of your education" pity points were thrown around lol. So yeah, it's never a written policy thing obviously. It's more about how teachers will take those tragedy factors into consideration when they're sympathetic to it.
This. Teachers have a lot of leeway to be more generous with their grades than they let on, and no one is going to complain about extra points. Plus, neither the school nor teachers want to fail the majority of their class. It doesn't look good, and it doesn't help anyone if something happened beyond everyone's control.
In regard to the death of a roommate thing, this is extremely sad so warning but at my school it was true. Someone I knew through a friend decided to take their own life in their dorm. A bunch of their friends were obviously totally destroyed. There was no written rule or anything, but all the professors knew what had happened so none of the students had any academic repercussions for totally disengaging from the semesters. It'd be pretty fucked up to fail someone out of college because their friend died...
That’s true but at the same time, degrees are not about pity, they are about skill. In the professional world, whatever hardships someone has to go through are not able to be used as an excuse for poor performance. Someone who is bad at math should not get an A in math due to trauma. It is misleading so most colleges don’t do that
@@Fcg2005-lj8rs they didn't say they got a free ride. That'd be wrong as well. But punishing them for it is also shitty. Like you said it's about skill, so it's a sahem to have skilled individuals gate kept by extenuating factors
4:51 In my experience stuff like that does happen. My spansh teacher got fired for inappropriate behavior near the end of the school year, so for the last few weeks we had like 2 random people try and rush-teach as much Spanish as they could for the rest of the year and we didn't need to take the exam either. Also went to a mental hospital near the end of school and even tho I was supposed to fail a class I just got the lowest possible passing grade. So things like that do happen, but I imagine it's just situational. Certainly not just giving out A's ethier, more like if you were gonna barley fail a class you might just be bumped up to passing.
I had a similar thing happen to me. In the middle of a semester, the Dean comes into the class room at the start of class and says the current teacher had an "family emergency" and wouldn't be available for the rest of the semester. Uh oh. There were a few awkward questions about what would happen, and we filed out of the class room. After about two weeks of basically not having class, the college found someone crazy enough to teach a class on such short notice. He was not a good teacher. We read directly from the power point slides, and left 30 minutes early for the rest of the semester. Everyone was complaining about the class. I was incredibly upset, because it was a class relevant to my degree, and I wanted to learn the information. I suspect that lots of students complained to the Dean afterwards about the quality of the class. I had a solid A, and I didn't think I would get a refund, so I didn't bother to file a formal complaint. Later, I found out that everyone I knew got an A in that class, even if I had constantly been helping them understand the information in the book. I never saw the replacement professor at the college again. I figure that although it's not official policy, the school gave everyone good grades because of the disaster. The alternative was deal with refunds or offering free classes to students as compensation. They must have figured that if everyone got good grades, they wouldn't bother complaining more. That, or the professor gave everyone good grades to bribe them into being nicer. I'll never know. The difference is that this was the school's problem to deal with the disaster, not a student's problem. When a student has a problem, tough luck. When the school has a problem that would lose them money, you get free A's instead of monetary compensation.
I mean pass by catastrophe happened to me as a 2020 grad I never wrote final exams for any courses and your mark couldn't drop below what it was when quarantine started and all grades were immediately bumped up to passing as well
1:30 It seems appropriate to point out the size of the deposit insurance fund is 121.8 billion. So that's 484000 accounts fully covered. Most people don't have $250000 in the bank. The "money printer" (bailouts) takes effect after that. You'll likely see increased requirements on how much banks pay into the fund to sure it up if it's gone bad.
Yeah its almost entirely based on individual school policies. At my sisters university, nothing would happen. At mine, your entire floor (how our dorm was grouped) gets to switch to pass/fail.
Same situation with me but for my friend they auto passed his exams. Also knew a chick who got hit by a bus and got a year of free tuition as part of the settlement.
I'm pretty sure the death of a roommate thing is on a school by school basis, I remember a rep that visted my school and she said they only give you As for the semester but my school would do it for the rest of the year
In Saskatchewan canada ik you got an auto pass i was in g.9 and literally just didnt do any classes other than math (cus i was going the hard route in math)
I think someone jumped off a building that people were actively taking a midterms in. I think they all had to stop their exams due to paramedics arriving and investigating the situation. It was very sad.
My housing director killed themselves last year. I still failed classes and got kicked out of college the next semester because I couldn’t appeal my satisfactory academic progress without a doctors note.
Also more specifically to FTX. There was an agreement that the customer money at FTX was untouched and not used for anything, fully accessible to the customer. Whereas in reality FTX used customer funds interchangeably with Alameda funds for investing
Hey where’s the rocket money video? Been needing it but want to wait for you to get sponsored again because I can’t find the link to your already existing one
I got free A-levels because of covid and got accepted into a good uni, so technically "pass by catastrophe" is real!!1! Just start a global pandemic when no one is ready 🤯🤯
this sent me on a spiral for like 10 min i think my best guess is it’s a dog barking in the background but far away and dampened by whatever mic settings are on, either that or definitely haunted -ædish
Technically the 2008 financial crisis and subprime fiasco that came with it could be looked at as us the taxpayers footing the bill for shoddy-at-best financial dealings done by massive banks. Sure this and FTX are different beast but the chat question was interesting. How much risky af gambling is legal or borderline and where is the borderline?
It has nothing to do with the risk of the investments. That's not why FTX stuff was illegal. It's about the agreement between an exchange and a customer. If I give you my money and tell you to buy bitcoin and you don't do that and do **anything else** with the money it's illegal. Doesn't matter if you are buying dog with hat or treasury bonds. A bank is a different type of business with a different agreement. The risk associated with the investments is completely irrelevant in this case.
Atrioc didnt really explain it well. The answer is banks are not brokerages and exchanges.
When you deposit money on a bank, part of the contract you sign is that the bank will invest your deposit and they may in fact fail and you won't get all your money back. The banks isn't secretly investing your money, it's literally how their business operates.
Because of this, there are a lot of laws and regulations and insurance that banks have to abide by to minimize this risk of customer deposits being lost due to bad investments(mostly loans) by the bank.
When you deposit funds or stocks or crypto with a brokerage, the brokerage is not supposed to invest your funds. This is because they are not banks and are purely a custodian of your funds. A brokerage generates a profit by selling services to their customers for a fee, not by investing customer funds.
What SBF did was secretly steal customer funds to invest. This is completely illegal because FTX is not a bank, but a brokerage.
Pretty sure 0:41 explains really well, just that Atrioc was explaining Part A of his scam and you're explaining Part B
Big A is just explaining it in a way for idiots like me to understand lol
Also the regulation bit is huge. "Real banks" can only invest a portion of customer funds in certain assets as a result of Dodd Frank and the Volcker Rule. It's been relaxed since 2020 but is still quite strict, PLUS their portfolios have to pass very vigorous stress tests that simulate various asset crashes. On the other side the very best you can get on a crypto exchange is them paying an auditor to verify assets and a "trust us bro" guarantee - you can tell by how many exchanges have failed in the past how much that's worth.
I'm glad Big A looks out for the folks at home
Robinhood does the same thing just legally lol.
counterexample; i was a senior when covid first hit in 2020
two of my (memorization-heavy) finals became open book, my biggest entire-semester project essentially halved its requirements, and every single one of my teachers waived a certain amount of assignments if they were incomplete. Lots of "i'm sorry a catastrophic event ruined the best year of your education" pity points were thrown around lol.
So yeah, it's never a written policy thing obviously. It's more about how teachers will take those tragedy factors into consideration when they're sympathetic to it.
This. Teachers have a lot of leeway to be more generous with their grades than they let on, and no one is going to complain about extra points. Plus, neither the school nor teachers want to fail the majority of their class. It doesn't look good, and it doesn't help anyone if something happened beyond everyone's control.
Ok but I'm guessing they were able to do that in COVID because there was COVID. In normal times the teachers would they reprimanded in someway
In regard to the death of a roommate thing, this is extremely sad so warning but at my school it was true. Someone I knew through a friend decided to take their own life in their dorm. A bunch of their friends were obviously totally destroyed. There was no written rule or anything, but all the professors knew what had happened so none of the students had any academic repercussions for totally disengaging from the semesters. It'd be pretty fucked up to fail someone out of college because their friend died...
That’s true but at the same time, degrees are not about pity, they are about skill. In the professional world, whatever hardships someone has to go through are not able to be used as an excuse for poor performance. Someone who is bad at math should not get an A in math due to trauma. It is misleading so most colleges don’t do that
@@Fcg2005-lj8rs just give them time to recover but still hold them to the same standards? pretty easy for a human being with human empathy to think up
@@Fcg2005-lj8rs they didn't say they got a free ride. That'd be wrong as well. But punishing them for it is also shitty. Like you said it's about skill, so it's a sahem to have skilled individuals gate kept by extenuating factors
read the title, saw my goat SBF, not fraud fr fr ong LET HIM FREE
He was just getting a little rambunctious he didn't mean it your honor 🙏
Not fraud is real blood, no gyaaat but it got streaks. No cap!
im gonna have a heart attack
Sorry about your brain worms
I feel like throwing up
4:51 In my experience stuff like that does happen. My spansh teacher got fired for inappropriate behavior near the end of the school year, so for the last few weeks we had like 2 random people try and rush-teach as much Spanish as they could for the rest of the year and we didn't need to take the exam either. Also went to a mental hospital near the end of school and even tho I was supposed to fail a class I just got the lowest possible passing grade. So things like that do happen, but I imagine it's just situational. Certainly not just giving out A's ethier, more like if you were gonna barley fail a class you might just be bumped up to passing.
I had a similar thing happen to me. In the middle of a semester, the Dean comes into the class room at the start of class and says the current teacher had an "family emergency" and wouldn't be available for the rest of the semester. Uh oh. There were a few awkward questions about what would happen, and we filed out of the class room.
After about two weeks of basically not having class, the college found someone crazy enough to teach a class on such short notice. He was not a good teacher. We read directly from the power point slides, and left 30 minutes early for the rest of the semester. Everyone was complaining about the class. I was incredibly upset, because it was a class relevant to my degree, and I wanted to learn the information. I suspect that lots of students complained to the Dean afterwards about the quality of the class. I had a solid A, and I didn't think I would get a refund, so I didn't bother to file a formal complaint. Later, I found out that everyone I knew got an A in that class, even if I had constantly been helping them understand the information in the book. I never saw the replacement professor at the college again.
I figure that although it's not official policy, the school gave everyone good grades because of the disaster. The alternative was deal with refunds or offering free classes to students as compensation. They must have figured that if everyone got good grades, they wouldn't bother complaining more. That, or the professor gave everyone good grades to bribe them into being nicer. I'll never know. The difference is that this was the school's problem to deal with the disaster, not a student's problem. When a student has a problem, tough luck. When the school has a problem that would lose them money, you get free A's instead of monetary compensation.
4:00 - Statute babyy
This is the unauthorized practice of law. Better be careful big dog. Dont worry I won’t say anything if we can come to some sort of agreement 🤑.
I mean pass by catastrophe happened to me as a 2020 grad I never wrote final exams for any courses and your mark couldn't drop below what it was when quarantine started and all grades were immediately bumped up to passing as well
Hush money bit sounds like a jake and amir episode
1:30
It seems appropriate to point out the size of the deposit insurance fund is 121.8 billion.
So that's 484000 accounts fully covered.
Most people don't have $250000 in the bank.
The "money printer" (bailouts) takes effect after that. You'll likely see increased requirements on how much banks pay into the fund to sure it up if it's gone bad.
I have a friend whose roommate killed himself in their dorm. He did not get any free A's or free housing like the myths say.
Oh my god, I'm so sorry hope your doing ok.
Yeah its almost entirely based on individual school policies. At my sisters university, nothing would happen. At mine, your entire floor (how our dorm was grouped) gets to switch to pass/fail.
Same situation with me but for my friend they auto passed his exams. Also knew a chick who got hit by a bus and got a year of free tuition as part of the settlement.
A bus ran by the school that is
A freshman at my school overdosed last semester and his roommates were dismissed from their current classes and were given their money back.
It depends on the uni. At my Uni there was a shooting incident, and you could nullify the grades on any class that semester.
I'm pretty sure the death of a roommate thing is on a school by school basis, I remember a rep that visted my school and she said they only give you As for the semester but my school would do it for the rest of the year
Holy shit the "human capital" take was so good
2:02 if they tell you to stay in the country for just one more day DON'T DO IT MAN!!! lol
Love the videos make me laugh and I enjoy it but please god change the background music it’s the same 2 songs on loop I’m begging you
i personally don't mind, but more songs could be included into the mix. there are plenty of good background nintendo songs
You can't steal a shirt, get caught later, and just return it, you stole, and got caught
My psych 101 teacher died near the end of the semester, new teacher came in and said everyone gets at least a 70 and passes.
Its 3 am whre i am live
Pass by catastrophe actually happened nationwide in dutch middle school during the covid-19 pandemic
In the us everyone passes middle school, it’s almost impossible to fail
In Saskatchewan canada ik you got an auto pass i was in g.9 and literally just didnt do any classes other than math (cus i was going the hard route in math)
There’s a movie called Deadman on Campus about 2 guys looking for the best candidate to move in so they get an A lol. It’s worth a watch
I think someone jumped off a building that people were actively taking a midterms in. I think they all had to stop their exams due to paramedics arriving and investigating the situation. It was very sad.
My housing director killed themselves last year. I still failed classes and got kicked out of college the next semester because I couldn’t appeal my satisfactory academic progress without a doctors note.
Do people really think that's not fraud? Lmao 😂😂😂
Also more specifically to FTX. There was an agreement that the customer money at FTX was untouched and not used for anything, fully accessible to the customer. Whereas in reality FTX used customer funds interchangeably with Alameda funds for investing
0:55 so just your govrment?😂
Hey where’s the rocket money video? Been needing it but want to wait for you to get sponsored again because I can’t find the link to your already existing one
didn't one of his videos already have a rocket money sponsorship?
1:57 How the fuck is Alan Greenspan still alive?!?
One time my professor died mid semester and all that happened was another one took over for the remaining month, no free A or anything like that
i swear im so tired of hearing the wii music all the time in these videos i swear its gonna haunt me in my nightmares
I got free A-levels because of covid and got accepted into a good uni, so technically "pass by catastrophe" is real!!1!
Just start a global pandemic when no one is ready 🤯🤯
Yes.
1:31 am I sch*zo or is there a dude sighing in the background there?
this sent me on a spiral for like 10 min i think my best guess is it’s a dog barking in the background but far away and dampened by whatever mic settings are on, either that or definitely haunted -ædish
GLIZZY OVERLOAD
sbf is just a little guy :( he has crazy hair
No, glizzy man, the answer is no
But also yes 🤔
Technically the 2008 financial crisis and subprime fiasco that came with it could be looked at as us the taxpayers footing the bill for shoddy-at-best financial dealings done by massive banks. Sure this and FTX are different beast but the chat question was interesting. How much risky af gambling is legal or borderline and where is the borderline?
It has nothing to do with the risk of the investments. That's not why FTX stuff was illegal. It's about the agreement between an exchange and a customer.
If I give you my money and tell you to buy bitcoin and you don't do that and do **anything else** with the money it's illegal. Doesn't matter if you are buying dog with hat or treasury bonds. A bank is a different type of business with a different agreement. The risk associated with the investments is completely irrelevant in this case.
SBF the Nelson Mandela of crypto!
is he going to do a merch drop of the green hat?
yes lol
The dorm thing is fake. Dude did it to himself and I assure u we still had grades
Yes it was lol
Atrioc, have my baby.
Atrioc is married
It’s not fraud it’s just funny
you should just create a new bank account anytime youll be going over 250k in 1 account. that way you insure a higher cap in each bank lmao/
How am I to trust a man who changes his facial hair as much as Atrioc? For Pete's sake man, choose a style; stick with it!
@@ga6257 That man should grow a 2 ft long beard, nay 3 ft; the longer the beard, the greater the wisdom
Hi
FIRST
First
Stop fkn zooming in an inch on his face I keep thinking I zoomed in. Annoying