In the last couple years so many regular people have barely been able to keep the lights on and have been getting hammered at the supermarket and these guys have been nonchalantly kicking around millions and billions of dollars that didn’t even belong to them. It’s obscene.
It's been a rough year with losses from failed banks and government, real estate crashes, a struggling economy, and downturns in stocks and dividends. It feels like everything has been going wrong. What a terrible year it is…
A financial professional you work with could really prepare you for life. I'm glad I was able to get in touch with my coach Samuel Peter Descovich earlier this year because I was actively cashing out from my portfolio and finally earned over 370k just in the first quarter while everyone else was complaining about the downturn.Samuel Peter Descovich helped pay down our debt and save up for retirement.
That is why I work with Samuel Peter Descovich, who introduced me to a better Financial community, a verified agency where I learned how money works and how to create it, as well as free books, courses, and daily lectures. You also get to meet new people, which was the best decision I ever made.
Thank you so much for the advice. Your coach was simple to discover online. I did my research on him before I scheduled our phone call. he appears knowledgeable based on his online resume.
Samuel Peter Descovich is the go-to financial advisor during market turmoil. With his expertise, I made over $220K, revealing hidden market opportunities. Having an investment counselor is crucial, especially for those nearing retirement.
So, just binged through your trial coverage of this day-by-day. Excellent work overall. A few things to keep in mind: a.) Defense lawyers have an absolute right to question all prosecution witnesses before trial. If they are asking questions where they get an answer they don't expect, that is a lack of preparation. Regardless of what Sam has told them, they should know how the witness will answer from previous depositions. b.) When the prosecution rests, regardless of how well the defense does on cross-examination, you should think the defendant is 100% guilty. If there's a question in your mind when the prosecution rests that is a failure of their job. The defense will try to challenge witnesses, and lay in some doubt as to their credibility, but it probably won't change your mind. The defense should be doing a much stronger job once they begin their case in primary, ideally from their perspective their case should come off strong enough to completely overcome the case the state has laid out. So, it is completely normal to feel like the prosecution is winning at this point in a trial, it usually points to a bad indictment if you don't feel that way.
This finally helps me understand why SBF could not let Alameda Research die: As soon as Alameda Research declared bankruptcy, all of the loans from Alameda to FTX executives would be called in. Without those loans, Alameda's bankruptcy would deprive him of any residual book value of the company, but nobody would be after him for big chunks of cash and FTX would only be threatened if Alameda had a huge stash of FTT that creditors sought to liquidate. With those loans, Alameda Research's bankruptcy was an existential threat to SBF's wealth and influence.
Can’t get over just how engaging you are as a host. Hope shows are similar to this going forward after the trial too. (Just found you one day 1) Keep up the great work, and thanks for providing this service.
Don't apologise, I watched the episode with the edit mistakes, they were super minor. I appreciate the speed over perfect edits. Love your shows. Thanks :)
Woohoo another episode!! I am very impressed with your coverage. It’s the best I’ve found by far. I hope you gain mad followers from this series 😊 Happy Friday
11:48 Is exactly what I was anticipating they did with their sponsorship program as well. They offered all these amazing deals to promote not only did they have reputable people to promote FTX and primarily the FTT side for their viewers. The way the Ponzi scheme worked is they would give this outrageous amount to the sponsor themselves but the majority of that was quote, unquote given to them. With a high recommendation that the sponsor themselves take advantage of FTT. Then the money let's say $1 million. $750,000 of their sponsorship would be going back into FTT as new money. Allowing their balance sheet to reflect not only growth and stability. But allowed them to loan out essentially their money that they were offering as a service, but that money came back to them to do that again for another sponsorship possession. In a fractional lending type of way.
This podcast has been my go to for a high level overview of what's happening with this case each day-- finding others get too granular and arent focused on the big picture Really helpful reporting.
The circle of death, yeah! All these transactions were done without any kind of external oversight. VC firms have also a responsibility here. No VC appointed board member, a diligence far from due. They are the only ones that deserve their losses. Small investors are the real victims. 😥
Sequoia et al invested Billions AND THERE WAS NO BOARD. I have had companies with no revenue or less than 200k in revenue that had a board and quarterly board meetings. Because we were professionals trying to ensure we had proper records and good habits.
In all companies I've worked in and with I saw the pattern of CEOs trying to cook the books and accountants fighting back. And as imperfect as auditing/regulations are and as much cost and pain they produce, they can at least prevent big fraudulent effect on consumers. SBF was just an extreme and very young/inexperienced variety of such CEOs.
I really cannot understand how Zach accepted a balance sheet in the billions and did not request a certified copy at any point. You have a choice, to accept an internal balance sheet, or one that’s certified I.e verified by a CPA etc. I have never known million dollar investments with no certified copies. How do you just trust someone’s spreadsheet (their word) as that’s what they have?
Did FTX and or Alameda make NDA's (nondisclosure agreements)? Did FTX and or Alameda have employees sign NDA's from / with other entities such as Investors? SuperPACS's? The Chinese Government? Lots of factors to question.
@@TheCPRshow Thank you for your dedicated and detailed reporting. Regardless of the "amount" you were directly effected and affected by these events and/or dealings of / with FTX and or Alameda. Hard to pin point when and where illegal deals really became a problem for FTX and or Alameda but NDA's would or could assist with trial. (Either knowing of the existence for NDA's and better yet being privy to the signed (voided) NDA's would or could assist with trial evidence.) Best of luck, (break a leg with videos) and please remember you have support.
This is great coverage, thank you so much. My only question is, what is happening with the active investments that SBF made in those illiquid entities/assets?
SO this is actually very interesting, because one of their investments was in an AI startup called Anthropic that Amazon recently said they were going to put $4 B into, which would make Sam/FTX’ stake worth a LOT more. Potentially enough to recoup all the losses…
@@TheCPRshow No kidding, that's wild. AMZN should've bought Anthropic a year ago (I personally work in that space). Anyway, even more crazy would be a situation where, let's say someone more forgiving of SBF's predicament (not John Ray) handled the FTX liquidation, would leverage these long-tail investments and recoup the $8B to pay back the victims, which could be used to leverage an appeal for his inevitable prison sentence. I'm curious to see how these investments are going to play out.
Then there’s the question of whether or not the customers’ money was used to buy more FTX, along the way, thereby manipulating the price, driving it up and down and scraping up the profits. Whatever happened to productive enterprise? It’s been replaced with this thing.
Been looking for the source that can give me the daily deep dive on this trial! (Bankless recaps and Reddit weren't cutting it) So glad to have found this!
Did anyone ask Zach about whether he requested a certified copy of the balance sheet(s) provided? Zach states BlockFi was responsible, always did due diligence etc. Yet never requested a copy of certified accounts? This is minimum level of due dil!!!
The Balance Sheet is a fundamental financial document for determining liquidity. However it’s done, falsifying this is fraud. BS is BS is a good/not good mantra!
These summaries are great, thanks. In that "asset" category for Alameda, isn't a lot of it FTT? Or was that mostly held by FTX. Also...have you seen a quarter-by-quarter accounting for how much money Alameda was losing on their actual trades? Maybe that's info that JJ Ray is trying to figure out, and nobody has the real numbers yet. My understanding is that they were flat-out terrible. So not only were there all of the other problems, they weren't even a good hedge fund.
Yes - there was billions of dollars worth of FTT in their asset category which is why it’s not really true to say they had $21 billion in assets, since if they had actually tried to sell all their FTT, it would have crashed the price
Caroline, well done - excellent work. You should collect all your TH-cam comments on the SBF issue and publish them as an audio book. Your comments are not only very informative but very entertaining as well!
Adversity; introduces a man to himself...If that video edit mistake reaction is how you handle mistakes... YOU ARE GOING TO GO VERY FAR IN LIFE !!! EXCELLENT RESPONSE GIRL !
😂 you are right about the acronym for Balance Sheet is BS (Bull Shit). I have seen plenty of Balance Sheets in the past and most of them are BS. Now when i look at the next Balance Sheet, I will have a wry smile if it turns out to be BS 😅
When you mentions the messages about Alameda to BlockFi where they keep chasing for high loans etc… you said you saw the messages. Were those messages from Sam or not? Who sent the message asking for the higher loan?
Which crypto whales wants to back "ftx the movie" God damn, if they didn't go full yolo on embezzlement to cosplay as a vc firm, they'd still be making hundreds if millions. Wild.
I've been following this saga closely, trying to follow the evidence and your expert analysis and explanations, diagrams etc have definitely has helped, however as a layperson I'm having a hard time trying to figure out where the real money actually went. It feels a bit like that cup and ball trick, you see the ball go under one of the cups and then they shuffle the cups around, you don't take your eyes off the cup that you thought you saw the ball go under, then you indicate the cup where you think it is and of course it isn't there, it is under a different one, except in this case the ball isn't under any of the cups, it's gone. So, for the likes of me it's going to come down to buying tickets for "SBF, The Movie" when that eventually hits the big screen to try and understand what really happened, and it wouldn't surprise me to find the judge and prosecutor and defence in this case occupying the row of seats in front of me, because they'd probably like to know too !!
Aladema lent the money and made bad trades. They bought some luxury things too. But I believe that almost 99% of the money was lost due to bad trading and crypto market crash.
And by bad trading, it sounds like Caroline did not hedge as requested, also did not follow through on specific trades requested by Sam. Plus being bullish when it’s bearish or vice versa. Caroline really fumbled the trading, although she did admit to using no advanced math in an earlier interview from ‘back in the day’
I love that graphic and it really does explain it perfectly! So now we know why crypto all of a sudden is worth so many billions of dollars! Actually, it looks like it’s only worth what someone will give you for it about the as same any damn thing else! Such bullshit!
Is there anything new on Sam Trabucco? I read an article that he was finally mentioned in the trial. I would have loved it if he had been there. Those huge purchases he made before the blow-up are not suspicious at all. I'm sure that the superyacht was worth all the money spent. Now, I want to know what happened to him, not accuse him outright, and I would want him to be interrogated. Am I crazy, or did Trabucco literally vanish off the face of the earth...
No he's around but smartly not speaking. The impression I got was that SBF wanted as small of a circle as possible who knew about the fraud. So whether Trabucco lost money trading isn't material to the fraud.
He was the co-CEO of Alameda Research and would most likely be in that small circle. Whether he lost money trading, I never implied that, however, he did step down around the summer of 2022, and then continued to be an advisor to Alameda until the blow up. He mentioned stepping down due to the stress he had working there. Yet, he made huge purchases, so he won big time. I just want him to be questioned that's all. Is that too much to ask? @@petercofrancesco9812
He was mentioned a number of times during Caroline’s testimony - most memorably it was said that he stopped showing up to the office at the end of 2021 and officially quit mid 2022
The biggest mystery is Sam Trabucco. Where is he? Why was he not called as a witness? I know he has kind of disappeared but where is the yacht "Soak my Deck?" It seems to me that the yacht could be "clawed-back."
This fiasco vaguely makes me think about gamblers (or people who succumb to Nigerian scams) who start embezzling from their bosses hoping that things will turn around on the next roll of the dice and they will not only be able to clear away evidence of their shenanigans *but to make a tidy profit too!* I did vaguely wonder if you were sleep recording and editing on the last video. I kept thinking geez girl, go to sleep! lol.
You mentioned the “cooked” balance sheet was made by Caroline, at behest of Sam. I just want to confirm this is based only on Caroline’s word? And not any further evidence of any sort? I am yet to hear of any written communication whatsoever between Sam and Caroline, or with any other person
@@TwoBassed yes, it doesn’t seem like there is any evidence whatsoever (other than her word under oath while trained by prosecution and held at gun point if she does not say the right things)
In the last couple years so many regular people have barely been able to keep the lights on and have been getting hammered at the supermarket and these guys have been nonchalantly kicking around millions and billions of dollars that didn’t even belong to them. It’s obscene.
America doesn't produce anything real anymore
It's been a rough year with losses from failed banks and government, real estate crashes, a struggling economy, and downturns in stocks and dividends. It feels like everything has been going wrong.
What a terrible year it is…
A financial professional you work with could really prepare you for life. I'm glad I was able to get in touch with my coach Samuel Peter Descovich earlier this year because I was actively cashing out from my portfolio and finally earned over 370k just in the first quarter while everyone else was complaining about the downturn.Samuel Peter Descovich helped pay down our debt and save up for retirement.
That is why I work with Samuel Peter Descovich, who introduced me to a better Financial community, a verified agency where I learned how money works and how to create it, as well as free books, courses, and daily lectures.
You also get to meet new people, which was the best decision I ever made.
Thank you so much for the advice. Your coach was simple to discover online. I did my research on him before I scheduled our phone call. he appears knowledgeable based on his online resume.
Samuel Peter Descovich is the go-to financial advisor during market turmoil. With his expertise, I made over $220K, revealing hidden market opportunities. Having an investment counselor is crucial, especially for those nearing retirement.
I found his extraordinary resume when I searched for his name on Google. I count it a gift that I went over this remark
Literally the best coverage I've seen/heard. You're genuine enthusiasm comes through in every video. God bless the algorithm for leading me here.
Thank you so much!!! I’m glad the Algo led you here too :)
So, just binged through your trial coverage of this day-by-day. Excellent work overall.
A few things to keep in mind:
a.) Defense lawyers have an absolute right to question all prosecution witnesses before trial. If they are asking questions where they get an answer they don't expect, that is a lack of preparation. Regardless of what Sam has told them, they should know how the witness will answer from previous depositions.
b.) When the prosecution rests, regardless of how well the defense does on cross-examination, you should think the defendant is 100% guilty. If there's a question in your mind when the prosecution rests that is a failure of their job. The defense will try to challenge witnesses, and lay in some doubt as to their credibility, but it probably won't change your mind. The defense should be doing a much stronger job once they begin their case in primary, ideally from their perspective their case should come off strong enough to completely overcome the case the state has laid out. So, it is completely normal to feel like the prosecution is winning at this point in a trial, it usually points to a bad indictment if you don't feel that way.
You have the best overview of the trial and I look forward to your review every day.
This makes me so happy to hear!! Thank you for watching :)
you and Tiff combining your powers to make The Greatest Finance-related investigative podcast ever would be a delight
This finally helps me understand why SBF could not let Alameda Research die: As soon as Alameda Research declared bankruptcy, all of the loans from Alameda to FTX executives would be called in. Without those loans, Alameda's bankruptcy would deprive him of any residual book value of the company, but nobody would be after him for big chunks of cash and FTX would only be threatened if Alameda had a huge stash of FTT that creditors sought to liquidate. With those loans, Alameda Research's bankruptcy was an existential threat to SBF's wealth and influence.
Honestly I didn’t even notice the quality of yesterdays editing just happy and grateful for your content😊
Great coverage
You provide better content than the MSM regarding this trial. Great job!
Great ! You are the ONLY commentator who mentions _due diligence and risk_ . Well done.
The best coverage of the SBF trial I have found on TH-cam! Great job. You are killing it!
Can’t get over just how engaging you are as a host. Hope shows are similar to this going forward after the trial too. (Just found you one day 1)
Keep up the great work, and thanks for providing this service.
Yes and the ears, you forgot to mention the ears, they are super cute😅
I love your coverage of this trial. Thanks for sharing.
Excellent timing, love the details. No sweat on the edit yesterday. Great work!
Yep the whole market was rigged to fleece retailers.
Don't apologise, I watched the episode with the edit mistakes, they were super minor. I appreciate the speed over perfect edits. Love your shows. Thanks :)
Woohoo another episode!! I am very impressed with your coverage. It’s the best I’ve found by far. I hope you gain mad followers from this series 😊
Happy Friday
Thanks so much!! I really appreciate it :)
You and Tiffany should do a podcast or something after the trial y’all have great on screen rapport together
She’s so fun!!
Caroline was a hot chick back then but now she looks like something the cat has dragged in.
You have the best in detail coverage of the SBF trial I have found. Well done.
11:48 Is exactly what I was anticipating they did with their sponsorship program as well. They offered all these amazing deals to promote not only did they have reputable people to promote FTX and primarily the FTT side for their viewers. The way the Ponzi scheme worked is they would give this outrageous amount to the sponsor themselves but the majority of that was quote, unquote given to them. With a high recommendation that the sponsor themselves take advantage of FTT. Then the money let's say $1 million. $750,000 of their sponsorship would be going back into FTT as new money. Allowing their balance sheet to reflect not only growth and stability. But allowed them to loan out essentially their money that they were offering as a service, but that money came back to them to do that again for another sponsorship possession. In a fractional lending type of way.
You and Tiffany really need to do a joint podcast. Yes !!
Thank you for sharing this. Let me watch it all. 💯
They over-collateralized bc they knew that they were pledging assets that were centralized and manipulated. They were cashing out of FTT.
Yep! And because the lenders probably required more of it since its obviously less stable than even other crypto’s.
This podcast has been my go to for a high level overview of what's happening with this case each day-- finding others get too granular and arent focused on the big picture Really helpful reporting.
Super high quality journalism, thank you.
What I'm honestly dying to know is where you got the light up American Flag at that thing is awesome
What I wanna see is the trading records of Alameda. I wonder if they ever made any profit.
This is the best and most update to analysis I’ve seen on the trial
The circle of death, yeah! All these transactions were done without any kind of external oversight. VC firms have also a responsibility here. No VC appointed board member, a diligence far from due. They are the only ones that deserve their losses. Small investors are the real victims. 😥
Sequoia et al invested Billions AND THERE WAS NO BOARD. I have had companies with no revenue or less than 200k in revenue that had a board and quarterly board meetings. Because we were professionals trying to ensure we had proper records and good habits.
Great reporting!
The one leaked in Twitter wasn't even a balance sheet but a rough draft of assets and their assumed value, No liabilities to speak of! 😂
Best on TH-cam! I look forward to your video overviews. Keep up the great work 🤎
they all should get the maximum sentence, they are all guilty as sin!!!!!??
In all companies I've worked in and with I saw the pattern of CEOs trying to cook the books and accountants fighting back.
And as imperfect as auditing/regulations are and as much cost and pain they produce, they can at least prevent big fraudulent effect on consumers.
SBF was just an extreme and very young/inexperienced variety of such CEOs.
Dishonesty was baked into the culture of the company. Fraud charges were inevitable.
Great perspective. Thanks 🙏
thanks for the daily updates
Thanks for watching!!
Using their logic:
I lend to my pigbank and use my pigbank as a collateral to buy my pigbank
What a mess
I really cannot understand how Zach accepted a balance sheet in the billions and did not request a certified copy at any point. You have a choice, to accept an internal balance sheet, or one that’s certified I.e verified by a CPA etc. I have never known million dollar investments with no certified copies. How do you just trust someone’s spreadsheet (their word) as that’s what they have?
Written with crayon on the back of an envelope
Did FTX and or Alameda make NDA's (nondisclosure agreements)? Did FTX and or Alameda have employees sign NDA's from / with other entities such as Investors? SuperPACS's? The Chinese Government? Lots of factors to question.
Interesting question. NDAs haven’t come up at all during trial!
@@TheCPRshow Thank you for your dedicated and detailed reporting. Regardless of the "amount" you were directly effected and affected by these events and/or dealings of / with FTX and or Alameda.
Hard to pin point when and where illegal deals really became a problem for FTX and or Alameda but NDA's would or could assist with trial. (Either knowing of the existence for NDA's and better yet being privy to the signed (voided) NDA's would or could assist with trial evidence.) Best of luck, (break a leg with videos) and please remember you have support.
Just an idea, but how about an SBF trial playlist on your channel?
Yes!! I’ve been meaning to do this, thanks for the reminder!
This is great coverage, thank you so much. My only question is, what is happening with the active investments that SBF made in those illiquid entities/assets?
SO this is actually very interesting, because one of their investments was in an AI startup called Anthropic that Amazon recently said they were going to put $4 B into, which would make Sam/FTX’ stake worth a LOT more. Potentially enough to recoup all the losses…
@@TheCPRshow No kidding, that's wild. AMZN should've bought Anthropic a year ago (I personally work in that space). Anyway, even more crazy would be a situation where, let's say someone more forgiving of SBF's predicament (not John Ray) handled the FTX liquidation, would leverage these long-tail investments and recoup the $8B to pay back the victims, which could be used to leverage an appeal for his inevitable prison sentence. I'm curious to see how these investments are going to play out.
Then there’s the question of whether or not the customers’ money was used to buy more FTX, along the way, thereby manipulating the price, driving it up and down and scraping up the profits. Whatever happened to productive enterprise? It’s been replaced with this thing.
Once again your content is awesome!!
Thanks so much!!
Thank you for this coverage, especially the discussion around the balance sheets and the "circle of life" demonstrative.
Thank YOU for watching and commenting!!
Been looking for the source that can give me the daily deep dive on this trial! (Bankless recaps and Reddit weren't cutting it) So glad to have found this!
Great job with the content by the way !!!
Thanks so much!
Good job. the crypto industry was certainly a house of cards in the last cpl years! It needed to happen.
ive watched a lot of videos that cover the ftx scandal throughout the past week, i think you are one of the best ones out there.
Hey listen no need to apologize about the last episode. You did great we appreciate what you do!
Agree 😊
Did anyone ask Zach about whether he requested a certified copy of the balance sheet(s) provided? Zach states BlockFi was responsible, always did due diligence etc. Yet never requested a copy of certified accounts? This is minimum level of due dil!!!
The Balance Sheet is a fundamental financial document for determining liquidity. However it’s done, falsifying this is fraud. BS is BS is a good/not good mantra!
It's almost like these big crypto companies are focused on centralised decentralisation...
These summaries are great, thanks. In that "asset" category for Alameda, isn't a lot of it FTT? Or was that mostly held by FTX. Also...have you seen a quarter-by-quarter accounting for how much money Alameda was losing on their actual trades? Maybe that's info that JJ Ray is trying to figure out, and nobody has the real numbers yet. My understanding is that they were flat-out terrible. So not only were there all of the other problems, they weren't even a good hedge fund.
Yes - there was billions of dollars worth of FTT in their asset category which is why it’s not really true to say they had $21 billion in assets, since if they had actually tried to sell all their FTT, it would have crashed the price
Great recap!
love your enthusiasm!
thanks for the detailed coverage.
has the government referenced any of sbf's statements he made during his twitter space appearances?
Amazing review,
Free SBF! No justice, no peace!
I love your commentary. Hope you get lots of subscribers
Graphs and just sheets are really helping. But I need more information about the money flows and the resulting missing money and losses
Caroline, well done - excellent work. You should collect all your TH-cam comments on the SBF issue and publish them as an audio book. Your comments are not only very informative but very entertaining as well!
Adversity; introduces a man to himself...If that video edit mistake reaction is how you handle mistakes... YOU ARE GOING TO GO VERY FAR IN LIFE !!!
EXCELLENT RESPONSE GIRL !
What more do you want in coverage!?! 🔥
Hi. If SBF of FTX arrested, Alex Mashinsky of Celsius, why not Konstantin Gladych of Atomic Wallet?
thanks for all your hard work
😂 you are right about the acronym for Balance Sheet is BS (Bull Shit). I have seen plenty of Balance Sheets in the past and most of them are BS.
Now when i look at the next Balance Sheet, I will have a wry smile if it turns out to be BS 😅
When you mentions the messages about Alameda to BlockFi where they keep chasing for high loans etc… you said you saw the messages. Were those messages from Sam or not? Who sent the message asking for the higher loan?
Kids with play money and no sense of actual responsibility beyond "I f****d up."
I like the Tiff + You idea... Thank you, ladies...
What do you mean by "was"? Do you think the situation is different in 2023?
Nice to see an analysis going beyond the theatrics. Balance sheets aren’t sexy but there in lies the story.
Love your work.
Which crypto whales wants to back "ftx the movie"
God damn, if they didn't go full yolo on embezzlement to cosplay as a vc firm, they'd still be making hundreds if millions. Wild.
Did FTX / Alameda have auditors?
Girl you earned your rest this weekend…thank you!
Great channel, new subscriber. Keep it up. Thanks for the video.
Very refreshing presentation
You got a talent there young lady, well done. That stuff can be a snooze but you kept me into it till the end.
The incestuous lending circle just blows my mind
I've been following this saga closely, trying to follow the evidence and your expert analysis and explanations, diagrams etc have definitely has helped, however as a layperson I'm having a hard time trying to figure out where the real money actually went. It feels a bit like that cup and ball trick, you see the ball go under one of the cups and then they shuffle the cups around, you don't take your eyes off the cup that you thought you saw the ball go under, then you indicate the cup where you think it is and of course it isn't there, it is under a different one, except in this case the ball isn't under any of the cups, it's gone. So, for the likes of me it's going to come down to buying tickets for "SBF, The Movie" when that eventually hits the big screen to try and understand what really happened, and it wouldn't surprise me to find the judge and prosecutor and defence in this case occupying the row of seats in front of me, because they'd probably like to know too !!
Aladema lent the money and made bad trades. They bought some luxury things too. But I believe that almost 99% of the money was lost due to bad trading and crypto market crash.
And by bad trading, it sounds like Caroline did not hedge as requested, also did not follow through on specific trades requested by Sam. Plus being bullish when it’s bearish or vice versa. Caroline really fumbled the trading, although she did admit to using no advanced math in an earlier interview from ‘back in the day’
interesting coverage!!
a cesspool of lending... what on earth
12:23 I ain't no economist but I don't think that looks stable 😅
fake coins are a bad investment, i bet people lose interest in the end !!!
Let’s hope people learn their lessons
Coins = Scammers wet dream..
Can you imagine having 1 billion dollars is the first question, a billion dollars….. and you loan it to… alemeda? Wow
I love that graphic and it really does explain it perfectly! So now we know why crypto all of a sudden is worth so many billions of dollars! Actually, it looks like it’s only worth what someone will give you for it about the as same any damn thing else! Such bullshit!
I love youuuuu
Is there anything new on Sam Trabucco? I read an article that he was finally mentioned in the trial. I would have loved it if he had been there. Those huge purchases he made before the blow-up are not suspicious at all. I'm sure that the superyacht was worth all the money spent. Now, I want to know what happened to him, not accuse him outright, and I would want him to be interrogated. Am I crazy, or did Trabucco literally vanish off the face of the earth...
No he's around but smartly not speaking. The impression I got was that SBF wanted as small of a circle as possible who knew about the fraud. So whether Trabucco lost money trading isn't material to the fraud.
He was the co-CEO of Alameda Research and would most likely be in that small circle. Whether he lost money trading, I never implied that, however, he did step down around the summer of 2022, and then continued to be an advisor to Alameda until the blow up. He mentioned stepping down due to the stress he had working there. Yet, he made huge purchases, so he won big time. I just want him to be questioned that's all. Is that too much to ask? @@petercofrancesco9812
He was mentioned a number of times during Caroline’s testimony - most memorably it was said that he stopped showing up to the office at the end of 2021 and officially quit mid 2022
It sounds like FTX was lacking in colladderall.
They were holding all the money in America in three companies, and then along came binance
The biggest mystery is Sam Trabucco. Where is he? Why was he not called as a witness? I know he has kind of disappeared but where is the yacht "Soak my Deck?" It seems to me that the yacht could be "clawed-back."
Great vids.
So which tab on his spreadsheet on his versions of financial balances did he expect us to believe, oh, I know get that girl from Alameda to choose 😂
Only person on TH-cam I’ve listened to on 1.0x speed 👋
Girl you are Cute and Crazy 'and you need your own talk show , very informative on the trial of the SBF Moppit Crew !
This fiasco vaguely makes me think about gamblers (or people who succumb to Nigerian scams) who start embezzling from their bosses hoping that things will turn around on the next roll of the dice and they will not only be able to clear away evidence of their shenanigans *but to make a tidy profit too!*
I did vaguely wonder if you were sleep recording and editing on the last video. I kept thinking geez girl, go to sleep! lol.
Most likely to Ukraine?
You mentioned the “cooked” balance sheet was made by Caroline, at behest of Sam. I just want to confirm this is based only on Caroline’s word? And not any further evidence of any sort? I am yet to hear of any written communication whatsoever between Sam and Caroline, or with any other person
Wouldn’t that depend on text messages/emails and voice recordings?
@@TwoBassed yes, it doesn’t seem like there is any evidence whatsoever (other than her word under oath while trained by prosecution and held at gun point if she does not say the right things)