(Brother Nan’s benefit: If you like or comment at the end of the article, you will receive Dogecoins from Brother Nan) How long does it take to turn a billionaire into a billionaire? A "shattering battle" in the currency circle in November 2022 made Brother Nan know the answer to this question. . . That’s probably just “a tweet’s worth of time.” Moreover, this war also caused big losses to Sequoia Capital, SoftBank, Temasek, Ontario Teachers’ Pension Fund and other big names. Many family members have heard that this man is our afro-----SBF!!! This man has been in prison since last year and doesn't speak much, and has confessed very few things. But Brother Afro is ready to defend himself in the latest trial. Can FTX be saved? ? Let Brother Nan take all the family members to review the incident and explain the main reason for the FTX thunderstorm. #sbf Look carefully, the guy with the afro in the picture is the protagonist of this big earthquake. He is Sam Bankman-Fried, the founder of the well-known cryptocurrency exchange FTX and the hedge fund Alameda. (Remember the name of this fund, it is also the main culprit of FTX’s thunder.) In the circle, everyone is accustomed to calling him SBF for short. To put it simply, this guy is a traditional financial trader. After discovering the surge in BTC, he founded the cryptocurrency trading platform FTX. Later, FTX obtained financing step by step and occupied the market step by step, and soon reached the third or fourth position in the industry. FTX was valued at around US$32 billion at the time. You may not know what this concept is. Let’s put it this way, Baidu’s market value is just over US$30 billion. SBF also ranks among the top 500 richest people in the world with a net worth of more than 15 billion US dollars. He has many nicknames, because during the LUNA currency crash incident, he saved many companies that were about to go bankrupt by throwing money, so some people called him the "Mom of the Currency Circle". Because he is a trader, some people compare him to the "next Buffett". Anyway, his iconic afro often appears on the covers of various magazines and newspapers. After this guy got rich, he started to like being famous, which also paved the way for subsequent events!! This guy is still immersed in the enjoyment of getting rich suddenly, but he never dreamed that in just a few days, the "coin industry giant" FTX he founded would directly run aground. His tens of billions of net worth, just like his hairstyle, exploded and evaporated in an instant. Everything actually originated from a report by the currency circle media CoinDesk. The report found that another company called Alameda established by SBF was mainly engaged in high-risk and highly leveraged investments, but 88% of the main assets recorded on its account were FTT tokens issued by its own exchange FTX. In total, 70% of FTTs on the market are in the hands of Alameda. As soon as the news came out, people in the currency circle quickly began to worry. A "not necessarily correct" conjecture spread: (The core of the thunderstorm!!!) Alameda and FTX are both companies of SBF, so SBF can use the left hand to the right hand, allowing Alameda to obtain a large amount of FTX at a low price Issued by FTT. Then Alameda raises the currency price by raising FTT, and can use FTT as collateral at a high price to borrow money from FTX. . . Alameda then used the borrowed money to make high-risk, high-leverage investments. In essence, the FTX exchange is just Alameda’s blood transfusion bag. Among them, Alameda’s investment has made profits along the way. If the price of FTT as collateral tends to stabilize, this “left hand over right hand” model can actually be maintained. However, if there is a huge investment loss or the price of the collateral FTT plummets, then there is a possibility that FTT will be sold off and liquidated in large quantities. At this time, the price of FTT will be depressed again, triggering a larger-scale liquidation, thus forming a "death spiral." Everyone who had just been frightened by LUNA began to feel uneasy. At this critical node, the most influential person in this circle stood up and spoke. The eldest brother Zhao Changpeng tweeted that he would sell FTT. Worry about the death spiral! ! "Even the world's largest exchange was afraid, and felt that FTX and Alameda were definitely at risk." As a result, the panic began to gradually intensify, and everyone followed suit to sell FTT, and the price of FTT fell all the way.Key point: A full-name run caused the financial model of FTT to collapse and fall into a death spiral. FTX started a thunderstorm! ! The collateral FTT was worthless, and soon people began to worry that Alameda would not be able to repay the money it borrowed from FTX. . . Therefore, users began to withdraw cash from the FTX exchange frantically again, fearing that they would be taken advantage of if they were too slow. After all, no one knows whether FTX misappropriated user deposits and lent them to Alameda. In the end, it turned out that everyone’s guess was right. Those who were slow to withdraw money at that time probably could no longer withdraw their money. ,Brother, why don’t you run? Why has he been tried in prison for a year after being arrested and still not sentenced? Why can we still make a comeback? First look at who I have cut, and you will know why I can't run away. Sequoia Capital, Ontario Teachers' Pension Fund, SoftBank, BlackRock, Tiger Management, etc. It can be said that FTX has single-handedly defeated dozens of star institutions. Can these international giants allow me to run away? ? ? Sit back and wait for the arrangements. Then why didn't he speak in prison, didn't provide a lot of information, and only now do he start to defend himself. This is also my brother's strategy. When the incident first came out, there was a lot of uproar. Many of them not only accused SBF of fraud. There are also crimes of aiding the Russia-Ukraine war, money laundering, asset outflow, etc. Once these last two items are settled, I won’t be able to get out in this life. Brother SBF's strategy is to wait for things to heat up. Recently, the Bitcoin ETF is about to be approved, which has led to more and more people supporting SBF. Brother SBF is ready to start a comeback and defend himself, so that all family members will follow Brother Nan to pay attention. Can SBF Afro succeed? Red envelope collection password: ethup666

William Cohan, one of the founders of the news site Puck, recently talked to Michael Lewis, who wrote the book "Going Infinite," which is about the guilty Sam Bankman-Fried (SBF). Lewis told some interesting things about SBF's life and shared more thoughts on it during the talk.
How Sam Bankman-Fried planned to repay Trump
Cohan wrote about his conversation with Lewis in a piece that said Sam Bankman-Fried had told Lewis about the "absurd" idea of paying off Donald Trump in one of their interviews. It was said that the former founder of FTX was thinking if $5 billion would be enough to get the former President to go away and not run for president again.
Cohan said that when Bankman-Fried brought up the idea, Lewis didn't seem too sure about it. One thing that was on his mind was whether or not what SBF was saying was the law. The author of "Going Infinite" also asked Sam Bankman-Fried if he thought Trump would keep their deal even if he agreed to take the $5 billion bribe.
Lewis told SBF that Trump could just take the money and run. He asked Bankman-Fried what he could do if that happened. And as Cohan wrote in his book, Lewis seemed sure that such a deal could not work out. Lewis just thought it was funny and couldn't believe that the president of FTX and Trump could talk about something like that.
SBF wanted to get in trouble.
The book "Going Inifite" by Michael Lewis came out on October 3, the same day that Bankman-Fried's hearing started. That wasn't the end of Lewis's search for information about the FTX founder, though; he was at his hearing. He told Cohan that SBF's testimony made him look like he "wanted to be punished."
Lewis believed it because Sam Bankman-Fried kept avoiding answering questions from the lawyers, which made sense since it would mean he wasn't telling the truth. The author seems to think that the killer did it on purpose to show that he was guilty. Lewis thinks that Bankman-Fried's decision to speak in the first place shows that he wanted to be punished.
At the same time, the author told Cohan that it was "very clear" that Bankman-Fried would be found guilty right from the start of the hearing. He said that the proof the prosecution presented at the hearing was a big part of why he came to this decision. This also includes the fact that people in SBF's "inner circle" pleaded guilty and gave evidence against him.
When they testified, he said, they were feeling things that "made it all sound much more damning than it was." Caroline Ellison, who used to be CEO of Alameda Research, Gary Wang, who co-founded FTX, and Nishad Singh, who used to be Director of Engineering at FTX, were all part of the "inner circle" that testified against Bankman-Fried.
#sbf #Trump #ftx

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Earning apps, like online earning websites, can change over time, and the availability of specific apps may vary by region. Here are ten types of legitimate earning apps that were well-known up to my last knowledge update in January 2022:Swagbucks: Allows you to earn points (Swagbucks) by taking surveys, watching videos, and shopping online.Ibotta: Offers cashback on grocery purchases and online shopping.Acorns: Rounds up your everyday purchases and invests the spare change.Dosh: Provides cashback when you shop, dine out, or book hotels.TaskRabbit: Lets you earn money by completing various tasks and jobs in your local area.Uber and Lyft: Driving for ride-sharing services can be a way to earn money.Amazon Flex: Deliver packages for Amazon and earn as a driver.Upwork: An app that lets you find freelance work in various fields.Foap: Allows you to sell your photos and videos.Fiverr: Offers an app for freelance work, especially for digital services.Keep in mind that while these apps offer legitimate earning opportunities, the amount you can earn can vary widely based on your location, skills, and the time you invest. Always be cautious of scams, read user reviews, and check for the latest information on these apps in your region, as new ones may have emerged $BTC #sbf #pol #linea #etf $BTC $ETH since my last update.