SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?


To: TobagoJack who wrote (193585)11/14/2022 5:23:38 PM
From: TobagoJack  Read Replies (1) | Respond to of 217925
 
Very nice

zerohedge.com

FTX Founder Sam Bankman-Fried Lists Bahamas Penthouse For $40 MillionFTX founder Sam Bankman-Fried has listed his Bahamas penthouse for sale at $39,500,000 following the collapse of his net worth when his crypto exchange imploded.

[url=][/url]

The 12,000 square-ft, five bedroom residence is located in the luxury Albany resort was listed last week, according to Semafor, however the realtor declined to name the owner. That said, people close to current and former FTX employees who have been at the residence confirmed that it was SBF's pad.

[url=][/url]

After growing to become one of the world's largest crypto exchanges, FTX filed for bankruptcy on Friday, while Bankman-Fried, resigned as CEO. He has been reportedly looking to liquidate other holdings in recent days, with the Financial Times reporting that he was looking to offload his large stake in brokerage Robinhood, worth around $472 million, for a 20% discount.



To: TobagoJack who wrote (193585)11/14/2022 5:33:14 PM
From: Logain Ablar6 Recommendations

Recommended By
Fiscally Conservative
ggersh
Hoa Hao
maceng2
pak73

and 1 more member

  Read Replies (1) | Respond to of 217925
 
In the U.S. (or at least in Delaware back in 2007) to set up a Property and Casualty insurance company you had to start with a clean audited balance sheet of $50 million. I say clean being just assets with no liabilities. If there were any liabilities, then the audit fee goes up and the regulatory process (Delaware Insurance Department review and approval for a license) takes a lot longer.

Everyone is focusing on FTX listed assets being at best 5 cents on the dollar but considering there was never an audit we can expect the liabilities to increase as well.

Would not want to be in a CPA firm exposed to any of this. Remember the Justice Department blew up Arthur Andersen for its Enron audit report.



To: TobagoJack who wrote (193585)11/14/2022 8:01:14 PM
From: maceng21 Recommendation

Recommended By
ggersh

  Read Replies (1) | Respond to of 217925
 
Just looking at the UK news. Headline stories.

The Papers - BBC News



Very few news stories on FTX issue in last 24 hrs.

Awaiting feedback from "factcheckers" to confirm supposed FTX story or maybe this is all Russian bots and conspiracy theorists spreading disinformation & misinformation? :o))))

Hedge funds invested in FTX left only with empty bags?

Somehow auditing capability and skills under question in western world.

Awaiting USA and UK government to update and advise. -g-.

As economy horror stories unfold, undoubtedly patsies and sacrificial goats will be in demand and actively searched for.

Like SBF acted alone? All that multi billion dollar illegal activity happened "in vacu" ? nfw imho.

A few questions need to be asked.... and answered.



To: TobagoJack who wrote (193585)11/16/2022 5:13:40 AM
From: TobagoJack1 Recommendation

Recommended By
marcher

  Read Replies (4) | Respond to of 217925
 
Now the movie is almost complete w/ needed ingredients

one or two items more is all we need for a really good flicks

decrypt.co

Tumblr Blog Linked to Ex-Alameda CEO Explored Race Science, ‘Imperial Chinese Harem’ Polyamory

Posts from a since-deleted blog linked to Caroline Ellison, Alameda Research’s former CEO, reveal the FTX-affiliated executive’s controversial views.


Image: @carolinecapital on Twitter

As onlookers attempt to make sense of the ongoing, mind-boggling collapse of crypto exchange FTX, details have begun to surface concerning the unorthodox internal practices and beliefs of the once-dominant company’s leadership.

Of particular note is former Alameda Research CEO Caroline Ellison, Bankman-Fried’s on-again, off-again former girlfriend, and a bizzare Tumblr blog that she appears to have maintained for years.

Until this week, Sam Bankman-Fried, FTX’s founder and CEO, lived with nine other colleagues in a $30 million penthouse in The Bahamas. Most high-level decisions pertaining to the operation of $32 billion exchange FTX and its sister trading firm Alameda Research were made by these 10 roommates, according to Coindesk, who were at one time reportedly romantically or sexually involved with one another.

The group was characterized as a “polycule”—a romantic network of multiple people typically linked by overlapping sexual relationships.

Want to be a crypto expert? Get the best of Decrypt straight to your inbox.

Alameda, a trading entity ostensibly distinct from FTX, reportedly siphoned billions of dollars from FTX customer accounts without users’ knowledge. On Monday, a report revealed the firm may have routinely engaged in the prohibited practice of frontrunning by making investment decisions based on insider knowledge of upcoming token launches on FTX’s trading platform.

Now, details from a blog linked to Ellison have begun to shed light on the former Alameda CEO’s personal beliefs and world philosophy—one shaped by hardline views on polyamory and sexual competition, a fascination with race science, and a belief in the natural synergy between crypto and fraud.

The Tumblr account, active from 2014 until its deletion Sunday, went by the name of “Fake Charity Nerd Girl” and the handle “worldoptimization.” The personal details revealed by the account’s author over its eight years of activity—including educational history, professional history, and living history—match up perfectly with Ellison’s biography. Further, when the account’s author announced they opened a Twitter account in March 2021, they linked to Ellison’s Twitter page, which was created the same month.

Decrypt reached out to Ellison to confirm the account’s authorship, but did not immediately receive a response.

The Ellison-linked Tumblr account sheds some light on the sexual dynamics that were potentially at play in FTX’s live-in headquarters.

“When I first started my first foray into poly, I thought of it as a radical break from my trad past,” the account wrote in February 2020, two years into Ellison’s stint at Alameda Research. “But tbh, I’ve come to decide the only acceptable style of poly is best characterized as something like ‘imperial Chinese harem.’”

The account went on to detail how a polyamorous dynamic should ideally function as a cutthroat market of sexual competition and subjugation.

“None of this non-hierarchical bullshit,” the account elaborated. “Everyone should have a ranking of their partners, people should know where they fall on the ranking, and there should be vicious power struggles for the ranks.”

The account’s author consistently displayed a fascination with sex and power dynamics. In another post, the author said that two key qualities of a “cute boy” are “controlling most major world governments” and possessing “sufficient strength to physically overpower you.”

The Ellison-linked account also demonstrated a substantial preoccupation with “hbd” or “human biodiversity,” an online euphemism for the discredited fields of race science and eugenics popularized by the alt-right.

Ellison has, for years, vocalized her die-hard obsession with Harry Potter. In one post, her affiliated Tumblr account tied her love of online character quizzes to her penchant for sorting Indians by their caste, which she presumed to indicate genetic distinction.

“I feel like part of me that is interested in HBD is the same part of me that loves personality types and ‘which character are you’ quizzes,” the account wrote. “There’s a stereotype of racist people that they will assume any East Asian person speaks Chinese or something. I appreciate that HBD people are the exact opposite of that, and will make fun of you for saying something about ‘Indians’ without specifying province and caste because come on, the genetic differences there are massive.”

The post did include a content warning that read “offensive, sorry,” along with the hashtag “#racism.”

Indian caste—a socially-engineered and arbitrary sorting of India’s population accelerated during Britain’s brutal colonization of India—has long been falsely equated with race and genetics over the history of white supremacy. Caste in India was heavily correlated with skin color, particularly under the British. The Nazis believed Aryans to have once been the lightest-skinned of all Indians. In 1939, Hitler sent an expedition of Nazis to investigate the Himalayan site of ancient Indus Valley civilizations as the origin of the Aryan race.

Ellison’s affiliated Tumblr account similarly appeared fascinated with the place of Indus Valley civilizations in the history of alleged genetic distinctions among Indians. The author wrote ample book reviews on the subject.

But perhaps of most direct relevance to last week’s events were posts by the account shedding light on its author’s impressions of the crypto space.

“I didn’t get into this as a crypto true believer,” the Ellison-linked account wrote in March. “It’s mostly scams and memes when you get down to it.”