FTX filed for bankruptcy protection in the US on Friday, while in the Bahamas, the securities regulator froze the assets of its subsidiary. The Bahamas’ Securities Commission said it had also applied to appoint a provisional liquidator of the company.
In the update over the weekend, the Bahamas regulators said any withdrawals involving clients in the Bahamas may be void and that funds may be clawed back as part of the insolvency efforts.
Clawbacks. Depending upon how you read US bankruptcy law any, and every, payment out of FTX for the last 90 days could be recalled. Even, the past year. And if they decide it was a Ponzi (unlikely in my view, to be fair) then all payments ever could be pulled back in. As happened with Madoff.
The fun has only just started.
If the rumours are true about FTX acting as a cash cow for Democrat election funding and other payoffs then that is going to set the cat amongst the pigeons.
The news will disappear and SBF will be Epsteined.
What Ottokring said. The whole operation stinks of some sort of State involvement somehow. Too much of the Deep State would be implicated if anyone started following the money, so they won’t.
Hmmm. pt3:
FTX is converting crypto contributions to Ukraine’s war effort into fiat for deposit at the National Bank of Ukraine.
https://www.coindesk.com/policy/2022/03/14/ukraine-partners-with-ftx-everstake-to-launch-new-crypto-donation-website/
if they decide it was a Ponzi (unlikely in my view, to be fair
Maybe not a Ponzi, but still a scam, as is most of the crypto business.
“SBF will be Epsteined”
Then we can say “SBF did not kill himself” and nobody will pay a blind bit of notice.
P.S. How’s the Seth Rich investigation going?
I can tell you right now that any amounts siphoned off to politicians, primarily D but also R, will never be repaid, unless the D’s decide to go even further into fascism and decide via the DOJ that the Republican payment was illegitimate and must be repaid, but that theirs wasn’t.