Can we sue celebs over the vaccine fraud next?

agracer said:

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Can we sue celebs over the vaccine fraud next?

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Careful what you wish for, Trump was one of the biggest celebrity endorsements for vax. Still is…

Binance's Alleged Crypto Audit Failed, Not Even Its Auditor Would Vouch For It


Binance says an audit shows proof of reserves of customer funds. But its auditor will not vouch for the reserves nor the methodology demanded by Binance...

Binance's Proof of Reserves Statement
When we say Proof of Reserves, we are specifically referring to those assets that we hold in custody for users. This means that we are showing evidence and proof that Binance has funds that cover all of our users assets 1:1, as well as some reserves.

When a user deposits one Bitcoin, Binance's reserves increase by at least one Bitcoin to ensure client funds are fully backed. It is important to note that this does not include Binance's corporate holdings, which are kept on a completely separate ledger.

What this means in actual terms is that Binance holds all user assets 1:1 (as well as some reserves), we have zero debt in our capital structure and we have made sure that we have an emergency fund (SAFU fund) for extreme cases.

The pseudo audit was by Mazars, a mid-tier global accounting firm according to the Wall Street Journal.

Its U.S. arm Mazars USA previously worked for former President Donald Trump's company. Earlier this year Mazars USA said it would withdraw from its work for Mr. Trump's company and could no longer stand by financial statements it had previously prepared.

Binance didn't specify which of Mazar's offices would be doing the verification of the reserves. A Mazars spokesman declined comment.

https://www.zerohedge.com/crypto/binances-alleged-crypto-audit-failed-not-even-its-auditor-would-vouch-it




When water goes out, we all get to see who was swimming naked…..

RED AG 98 said:

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I was not aware that BTC offered either yield farming or staking directly on the blockchain -- do you care to elaborate here?

I think this is tangentially related to BTC as it does share some characteristics with other crypto. But mostly this is commentary on derivatives, other crypto and air tokens. That BTC actually costs real money to mine and that is scarce are why it is markedly different.

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Watch the Saylor video above. I'm not a fan of his and his AAPL analogy isn't quite accurate but directionally correct.

BTC is being used as collateral and its price is being manipulated in a variety of ways in order to preserve its price. The industry as a whole needs requires BTC to preserve the price. If BTC price drops below mining profit levels across the world hashs will decrease. The death spiral could very well be when margin calls come in and miners are needed to provide their primary service at a loss. Saylor mentioned over the summer that MSTR would be ok with its BTC loan all the way down to ~$3500 iirc, Not everyone in the industry has that low of cost basis.

Miners have an incentive to prop up the price of BTC, Creating false transactions (via wash trades, cross trades) to mine for BTC is one very obvious and well known strategy. It is the technology of the scheme in a similar way as the USD and the implicit guarantee of MSBs were the technology of of the financial crisis. The manufactured scarcity from halving and mining incentives assist in propping up the price of BTC.

Things started going south for Marszalek, (the founder of Crypto.com) when the reporters actually took a dig into his previous business experience, something no one had ever bothered to do with SBF, and damn well should have.

Quote:

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…While no evidence has emerged of wrongdoing at Crypto.com, Marszalek's business history is replete with red flags. Following the collapse of a prior company in 2009, a judge called Marszalek's testimony unreliable.

His business activities before 2016 the year he founded what would become Crypto.com involved a multimillion-dollar settlement over claims of defective products, corporate bankruptcy and an e-commerce company that failed shortly after a blowout marketing campaign left sellers unable to access their money.

Court records, public filings and offshore database leaks reveal a businessman who moved from industry to industry, rebooting quickly when a venture would fail. He started in manufacturing, producing data storage products for white label sale, then moved into e-commerce, and finally into crypto.

CNBC reached out to Crypto.com with information on Marszalek's past and asked for an interview. The company declined to make Marszalek available and sent a statement indicating that there was "never a finding of wrongdoing under Kris's leadership" at his prior ventures.

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NYKNYC
I said I think on another thread the auditing world is not prepared for the crypto space. As I see it from the outside, they just dont have the frameworks and understanding of the inherent risks. And the risks they do understand, it appears auditors are not willing to sign on off on with any consistency

tysker said:

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NYKNYC
I said I think on another thread the auditing world is not prepared for the crypto space. As I see it from the outside, they just dont have the frameworks and understanding of the inherent risks. And the risks they do understand, it appears auditors are not willing to sign on off on with any consistency

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You should read into what auditors actually do now. You're going to be floored when you find out their job is not to find fraud.

MuchosPollos said:

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Binance's Alleged Crypto Audit Failed, Not Even Its Auditor Would Vouch For It


Binance says an audit shows proof of reserves of customer funds. But its auditor will not vouch for the reserves nor the methodology demanded by Binance...

Binance's Proof of Reserves Statement
When we say Proof of Reserves, we are specifically referring to those assets that we hold in custody for users. This means that we are showing evidence and proof that Binance has funds that cover all of our users assets 1:1, as well as some reserves.

When a user deposits one Bitcoin, Binance's reserves increase by at least one Bitcoin to ensure client funds are fully backed. It is important to note that this does not include Binance's corporate holdings, which are kept on a completely separate ledger.

What this means in actual terms is that Binance holds all user assets 1:1 (as well as some reserves), we have zero debt in our capital structure and we have made sure that we have an emergency fund (SAFU fund) for extreme cases.

The pseudo audit was by Mazars, a mid-tier global accounting firm according to the Wall Street Journal.

Its U.S. arm Mazars USA previously worked for former President Donald Trump's company. Earlier this year Mazars USA said it would withdraw from its work for Mr. Trump's company and could no longer stand by financial statements it had previously prepared.

Binance didn't specify which of Mazar's offices would be doing the verification of the reserves. A Mazars spokesman declined comment.

https://www.zerohedge.com/crypto/binances-alleged-crypto-audit-failed-not-even-its-auditor-would-vouch-it




When water goes out, we all get to see who was swimming naked…..

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“The charges under investigation are unlicensed money transmission, money laundering conspiracy and criminal sanctions violations…”

Source: https://t.co/pu0ZpDN4he

— Gold Telegraph ⚡ (@GoldTelegraph_) December 12, 2022

Yet nothing on FTX...

How can sbf be down to 100 K? Is the dude a moron?

Pinochet said:

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tysker said:

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NYKNYC
I said I think on another thread the auditing world is not prepared for the crypto space. As I see it from the outside, they just dont have the frameworks and understanding of the inherent risks. And the risks they do understand, it appears auditors are not willing to sign on off on with any consistency

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You should read into what auditors actually do now. You're going to be floored when you find out their job is not to find fraud.

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I'm not going to comment as I'm going through my annual financial audit right now and recently completed my firms outside anti-aml audit

SBF has been arrested?

https://www.cnbc.com/2022/12/12/ftx-founder-sam-bankman-fried-arrested-in-the-bahamas-after-us-files-criminal-charges.html

Quote:

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Bahamian authorities have arrested Sam Bankman-Fried after U.S. law enforcement filed charges against the former crypto billionaire.

Bahamas Attorney General Ryan Pinder said that the United States had filed unspecified criminal charges against Bankman-Fried and was "likely to request his extradition."

In a statement, Bahamian Prime Minister Philip Davis said "The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law. While the United States is pursuing criminal charges against SBF individually, The Bahamas will continue its own regulatory and criminal investigations into the collapse of FTX, with the continued cooperation of its law enforcement and regulatory partners in the United States and elsewhere."

Bankman-Fried was expected to testify before the House Financial Services Committee tomorrow. His arrest is the first concrete move by regulators to hold individuals accountable for the multi-billion dollar implosion of FTX last month.

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And here something interesting and very related to the whole FTX thing.

Long story short, this dude is freaking corrupt as the day is long. Go figure a close Clinton/Obama associate.



SEC Chairman Gensler Scrubbed Evidence Of Clinton, Soros And Pelosi Meetings: FOIA Lawsuit

Sunlight is the best disinfectant - unless you're Securities and Exchange Commission (SEC) Chairman Gary Gensler - who scrubbed evidence of a meeting with former Secretary of State Hillary Clinton from his calendar, along with key details of a meeting with Billionaire leftist-operative George Soros.

He also concealed September 21 meetings with House Speaker Nancy Pelosi (D-CA) and former Bill Clinton White House official-turned-DC consultant, Minyon Moore.

Gensler, a former Goldman Sachs executive, Obama administration official, Clinton's 2016 campaign CFO, and FTX associate, essentially had two calendars.

His public calendar showed that on Aug. 7, 2021, he only had a staff meeting, while his private calendar lists a meeting with Hillary Clinton, Fox News reports.

"This gives further credence to the widespread concern that Gensler is deeply politicizing a supposedly independent commission," he continued. "He may have been Hillary Clinton's 'Progressive Beacon' not long ago, but Gary Gensler is now the SEC chairman, and his calendar indicates he knew the purpose of the meeting. It seems important to know whose idea this was, why, what was said arranging it and through what channel."


https://www.zerohedge.com/political/sec-chairman-gensler-scrubbed-evidence-clinton-soros-and-pelosi-meetings-foia-lawsuit


Time to start reminding these folks they are our servants, not our masters.

Probably for the best for that idiot.

Honestly they probably need to do whatever they can to keep some jilted African war lord from murdering him. Out in the wild, it's a safe bet that some tribal leader who lost untold millions will hunt him down and he'll be found dead one morning with his head 10 feet from his body and his balls in his mouth.

At least his murder in prison will leave his body intact or mostly so. But if he jobbed the cartels then there's no way he's surviving this

Fox also has a story also about his arrest

https://www.foxbusiness.com/politics/ftx-founder-sam-bankman-fried-arrested-bahamas-us-expected-request-extradition-authorities-say

Ex-girlfriend must have finished her negotiation with the Feds in the New York, while they watched SBF do his talk show tour giving hours of free info incriminating himself telling lies that the girlfriend's testimony is going to contradict. All the ducks in a row for an indictment so they finally dropped the hammer on him.

I'm guessing he'll ultimately end up getting at least what Elizabeth Holmes got, about a decade in a medium security white collar crime prison. He's going to try to play the 'I didn't know what was going on card' but other insiders who did plea bargains with the feds are going to torpedo that, probably with emails, texts, a whole treasure trove of evidence.

This will be on an entirely different level than Holmes imo

Hmmm...

Tomorrow, Sam Bankman-Fried was scheduled to testify in front of the House Financial Services Committee. @HouseGOP was ready to grill him six ways to Sunday.

Now breaking tonight, SBF was just arrested!🧐

Why not allow him to 1st testify tomorrow and answer our many questions?

— Lee Zeldin (@RepLeeZeldin) December 13, 2022

Cuz he's about to get Epsteined. Dead men tell no tales or testify before Congress

TRM said:

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Hmmm...

Tomorrow, Sam Bankman-Fried was scheduled to testify in front of the House Financial Services Committee. @HouseGOP was ready to grill him six ways to Sunday.

Now breaking tonight, SBF was just arrested!🧐

Why not allow him to 1st testify tomorrow and answer our many questions?

— Lee Zeldin (@RepLeeZeldin) December 13, 2022

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Thankfully spared from AOC asking any questions related to economics

According to the SEC, was co-mingling funds from the very beginning

https://www.sec.gov/news/press-release/2022-219
https://s3.documentcloud.org/documents/23448545/sbf-sec-charges.pdf

SEC [@SECGov] charges Samuel Bankman-Fried [@SBF_FTX] with defrauding investors in #FTX:

"We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto" - SEC Chair @GaryGensler pic.twitter.com/dXviGxI0Nh

— The Transcript (@TheTranscript_) December 13, 2022

MuchosPollos said:

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And here something interesting and very related to the whole FTX thing.

Long story short, this dude is freaking corrupt as the day is long. Go figure a close Clinton/Obama associate.



SEC Chairman Gensler Scrubbed Evidence Of Clinton, Soros And Pelosi Meetings: FOIA Lawsuit

Sunlight is the best disinfectant - unless you're Securities and Exchange Commission (SEC) Chairman Gary Gensler - who scrubbed evidence of a meeting with former Secretary of State Hillary Clinton from his calendar, along with key details of a meeting with Billionaire leftist-operative George Soros.

He also concealed September 21 meetings with House Speaker Nancy Pelosi (D-CA) and former Bill Clinton White House official-turned-DC consultant, Minyon Moore.

Gensler, a former Goldman Sachs executive, Obama administration official, Clinton's 2016 campaign CFO, and FTX associate, essentially had two calendars.

His public calendar showed that on Aug. 7, 2021, he only had a staff meeting, while his private calendar lists a meeting with Hillary Clinton, Fox News reports.

"This gives further credence to the widespread concern that Gensler is deeply politicizing a supposedly independent commission," he continued. "He may have been Hillary Clinton's 'Progressive Beacon' not long ago, but Gary Gensler is now the SEC chairman, and his calendar indicates he knew the purpose of the meeting. It seems important to know whose idea this was, why, what was said arranging it and through what channel."


https://www.zerohedge.com/political/sec-chairman-gensler-scrubbed-evidence-clinton-soros-and-pelosi-meetings-foia-lawsuit


Time to start reminding these folks they are our servants, not our masters.

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What in the last 3 years has drawn you to the ridiculous conclusion that they aren't your masters and you're not their servant? You're most certainly their servant.

It's a club. A lot of the fools (not directed at you, friend) on this board think they are in the club and carry the water for the members. But, they aren't in the club. The club members fly around on private jets, commit crimes without punishment and are robbing you of your wealth. The servants wake every morning to keep the gears greased and the engine turning.

Watch Live: New FTX CEO Throw SBF Under The Bus In Congressional Hearing

Quote:

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...never in my career have I seen such an utter failure of corporate controls at every level of an organization, from the lack of financial statements to a complete failure of any internal controls or governance whatsoever."

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Additionally, he blamed the failure of the crypto exchange on the lack of experience among prior management:

Quote:

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"FTX Group's collapse appears to stem from the absolute concentration of control in the hands of a very small group of grossly inexperienced and unsophisticated individuals who failed to implement virtually any of the systems or controls that are necessary for a company that is entrusted with other people's money or assets."

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Finally, and most notably, Ray outlines some of the unacceptable management practices at the FTX Group identified so far include:

• The use of computer infrastructure that gave individuals in senior management access to systems that stored customer assets, without security controls to prevent them from redirecting those assets;
• The storing of certain private keys to access hundreds of millions of dollars in crypto assets without effective security controls or encryption;
• The ability of Alameda, the crypto hedge fund within the FTX Group, to borrow funds held at FTX.com to be utilized for its own trading or investments without any effective limits;
• The commingling of assets;

Some of these congressmen are so monumentally stupid.

I'd like two questions answered.....how many Congressmen on this committee took donation from FTX and when are they returning it?

Cleaver says he wants to change 'cryptocurrency to creepyto currencty'

What a waste of time with these clowns.

Finally a decent question..... Did the family help? Sam's dad is a dirty ****er.

Bunk Moreland said:

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Some of these congressmen are so monumentally stupid.

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Yep. And yet despite everybody knowing this they're reelected term after term after term...

MuchosPollos said:

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agracer said:

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Can we sue celebs over the vaccine fraud next?

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Careful what you wish for, Trump was one of the biggest celebrity endorsements for vax. Still is…

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Trump, in his position as president, advocated for people to get vax'd as protection and was not compensated for it.

Celebs are on TV getting paid to do commercials for getting vax'd. Just like the FTX scam.

IMO there's a difference between the two.

MuchosPollos said:

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Finally a decent question..... Did the family help? Sam's dad is a dirty ****er.

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Dad worked for FTX.

Mom ran a Democratic election fund.

Yes, I realize both had day jobs as LAW PROFESSORS.

This will be fun.....



FTX warns it will claw back political donations and contributions

The exchange has warned those who received payments from FTX or its former executives that it's looking to recover funds, even if they were donated to charity.

Bankrupt cryptocurrency exchange FTX says it is considering using legal avenues to recover all payments and contributions handed out by its associated entities and former executives, which could include the millions in political donations made by its former CEO, Sam Bankman-Fried.

In a Dec. 19 press release, FTX said it had already "been approached by a number of recipients of contributions or other payments" that were made by, or at the direction of Sam Bankman-Fried or other officers, adding those entities have sought "directions for the return of such funds."

In its recent statement, FTX invited those who received funds to "make arrangements for the return of such payments," warning if they weren't returned voluntarily, the exchange would commence legal action to claw back the payments with interest.

Legal experts previously warned that up to $73 million worth of FTX's political donations could be targeted for recovery to repay the speculated 1 million creditors owe up to an estimated $10 billion to $50 billion in its bankruptcy case.

Meanwhile, some members of U.S. Congress on the receiving end of FTX's political contributions have reportedly donated the funds to charity in a bid to distance themselves from the exchange and its founder.

Members of Congress such as Democratic House leader-elect Hakeem Jeffries and Senate Democratic whip Dick Durbin have reportedly donated money received from FTX to various charities.

Republican Senator John Hoeven similarly donated the $11,600 he received from Bankman-Fried and FTX Digital Markets co-CEO RyanSalame to the Salvation Army.

Bankman-Fried was the second-largest Democratic Party contributor in the 2022 mid-term elections, with $36.8 million wired to candidates. He also funneled $5.2 million to Joe Biden's 2020 U.S. presidential campaign, becoming its second-largest "CEO-contributor."

However, FTX said these charitable offloads won't be enough to stop it from coming after the funds, stating:

"Making a payment or donation to a third party (including a charity) [...] Does not prevent the FTX Debtors from seeking recovery."

https://cointelegraph.com/news/ftx-warns-it-will-claw-back-political-donations-and-contributions




Anything within two years of the bankruptcy is subject to clawbacks, right?

Buckle up!