Could someone take pity on my dumb ass and explain what the heck is this FTX shit?

Please someone dumb this down for me and explain it like I have a 5-year-old's brain.

Digital dogshit peddlers peddled digital dogshit to dipshits.

Digital dogshit peddlers then did a bunch of shady shit to fleece the dipshits.


The end.

Government steals working US citizens money
Government sends money to Ukraine
Ukraine siphons off a little and sends it back, wrapped in a crypto blanket
Greed takes over and empties the whole thing before most get paid.

its nothing that concerns you
memory holed 3, 2 1

Oh dear. That sounds pretty awful.



Yep, I figured as much. It's always greed from our "elected leaders"



It does concern me and it also concerns you, unless you don't participate in finances in the least, which I seriously DOUBT. Be nice.

Found this and it explains it pretty well:

https://twitter.com/_/status/1592678198269341698

FTX is the first of many. We are going into a meltdown like never before. Cash is king again, get ready for the buys of a lifetime. Be sure to get in there because when things come back prices will be higher than they have ever been. Buy when everyone is selling sell when everyone is buying.

They take your money and invest in an imaginary asset which they loan out to several different people at the same time, while telling you they are watching it for you and keeping it safe.

The other people use it as collateral, and then when the company goes bankrupt, a judge will tell you everyone just lost everything.

What are you buying? Let us in on what you're thinking about :)

It's unbelievable that this can go on. It happens over and over too, because they let the same people run the scam.

Anyone from Enron shouldn't be allowed to have a leadership role in any finance company.

Bernie Madoff X 20.

.

Apparently crypto exchanges are just running scams.

This guy slipped up really bad, more like cyber terrorist level.

But without proper regulations, the most seemingly well run "crypto" exchange may as well be doing the exact same things as this guy, and they seemingly all do.

Eventually, the law will crack down and the "crypto" will be like digital beanie babies.

Meanwhile original Bitcoin has quietly returned, is not "crypto," and may change the world as it is designed to work within the law and to be the ultimate law enforcement tool for money laundering.

It's all going to slowly crash. Idiots will keep pumping and dumping lower value digital beanie babies.

Smart people interested in the technology will gravitate towards Bitcoin.

The Phoenix will need to rise from the ashes.

ftx is an exchange like etrade is a brokerage. ftx vs binance is like pepsi vs coke or etrade vs ameritrade...imagine etrade saying "oops, those dollar signs and numbers on your screen have no assets backing them because the great sam i am son of samosa took the deposits for his own spending."

"Crypto" is worthless digital tokens that scammers convince people to pay hard-earned money for, promising them that there will always be a bigger idiot to take it off their hands for a higher price later. And for a time there is, this is why Ponzi schemes always work - at first.

A "crypto exchange" is where you send your money to the scammers and get your digital tokens in exchange. You can also send them your digital tokens and get money back, but they don't like that too much. If more people starts wanting their money back than there are people sending them money, the "crypto exchange" is suddenly "hacked" and your money is mysteriously gone, with the people running the exchange innocently waving their hands in the air, having no idea what happened.

This happens to every crypto exchange sooner or later, because they're unsurprisingly all run by scammers.

This time it happened to an exchange called FTX, which was run by an extra special bunch of scammers that was handling Democrat money laundering through Ukraine.

You can hear all about it on CNN!

Just joking.

Just another preferred race financial scheme to fleece Americans.

Sam Bankman-Fried.

Gary Gensler.

Volodymyr Zelenskyy.

Jeffrey Epstein.

Bernie Madoff.

Pass the gefilte fish.

buy luna and FTT ...buy the dip...


they will come back

Its so obvious but nothing gets said in main stream media about it.

Take away the top of the T. It becomes FIX.

Look at the fake name of the bogus CEO.

It's all bullshit. Total bullshit.

Fried Banker

It sorta looks like FIX, but it is not.

money laundering to the DNC to funnel to Ukraine with your tax dollars that mysterious got "hacked"

plain and simple

I don't think many Americans understand what is taking place. So...

It's not really about crypto at all.

It's about money laundering and corruption.

guess they dont humans knowing about what they do

sorry anyone got the way back machine?

A scam.

Another PEDOjoe and CO(Demonrats) grift.

Basically... dodgy rich people have been telling you for years that crypto is a scam and to stay away yada yada... Nobody listened and people kept making themselves rich via crypto so they (dodgy rich people) decided to make their own crypto exchange to scam people with.

Now they are hoping that this scam they pulled off will scare everyone away from crypto for good, but things don't really work like that. Considering this scam is a massive black swan event the price of bitcoin has not really dropped that much, it's still thousands times higher than it was just a couple of years ago.