Media has very biased coverage of events surrounding the whole FTX debacle. I have heard some people refer to FTX as an entire government psy-op, with all the ties that SBF has deep into the top governmental authorities and top figures even to the top of the SEC and CFTC. I thought it was conspiracy, but I am almost starting to believe it. Forbes calls Alameda CEO 'Queen Caroline' and ' Math Whiz' and 'Nerd Girl'. The worst was 'The Risk Loving 29 year Old Embroiled in the FTX Collapse', written as if Caroline wasn't one of the main actors in the collapse. Reuters said 'SBF did the financial system a favour' and refering to SBF as 'The Crypto Mogul'. According to them, apparently SBF causing retail to lose billions is a good thing that will move regulators to act. The same regulators at the very top of the CFTC and SEC he was having closed meetings with, not to mention the politicians on his payroll. The Washington Post 'FTX collapse dooms founder's effort to prevent another pandemic'. Yes, stealing from the poor and giving to the rich, just to better our lives and save us from a disaster. The WSJ states 'FTX Collapse upends founder's Washington play'. What about all the lives he upended by losing retail life savings? Very few publications actually noting about this being fraud, about these people being criminals, about this being a scandal worse than Enron. The new FTX CEO, someone who actually oversaw the collapse of Enron said in his own words, "Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here". This is literally the worst news coverage of a significant event in media history in my humble opinion. No fraud to mention, no illegality to highlight, no criminals to be found. Just a 'bunch of 30yo kids' (a quote to Bloomberg) who didn't know better. Speaking of Bloomberg, whistleblower Marc Cohodes said he approached Bloomberg about potential FTX fraud and manipulation and Bloomberg outright refused to do the story because it was 'bad for business'. So we can guess who else was on SBF's payroll. And of course, his billionaire friend defend him even though he's no longer 'on their level'. Kevin O'Leary says he'd still invest in FTX. Bill Ackman believes SBF. https://www.reuters.com/breakingviews/sam-bankman-fried-did-financial-system-favour-2022-11-15/ https://www.wsj.com/articles/ftxs-collapse-upends-sam-bankman-frieds-washington-play-11669545002 [link] [comments] |
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