CZ Binance speaks on FTX Crypto Fraud (Bombshell Revelations)!

CZ Binance speaks on FTX Crypto Fraud (Bombshell Revelations)!

CeCe Sam binkman freed has said that it was 
not a good strategic move on his part to get   In this battle with you he says he regrets 
it because obviously it helped reveal the   Issues with FDX that led to the collapse 
of all of this do you regret that Feud   We were never in a battle with him he may think 
he's in a battle with us we we didn't even notice We don't focus on smaller exchanges clearly 
that he lied to his users his investors his   VC investors his employees with the news of 
them becoming insolvent we just said well we   Want to sell those tokens welcome back everybody 
to altcoin daily you subscribe for daily videos   Keeping you informed and everything going on in 
cryptocurrency we'll hear more from CZ binance   In just a second I need to take you through some 
breaking news some big Revelations coming out of   The FTX SPF Scandal this is stuff that you need to 
really just I mean I don't know if you're going to   Be able to wrap your head around some of this 
stuff we'll start here Bahama's government says   That they were the ones who ordered Sam bankman 
freed to hack FTX the Securities Commission of the   Bahamas has confirmed that it was them who ordered 
Sam bankman freed to transfer the exchange assets   To the government after saying go ahead hack 
yourself the key takeaways of this story are   As follows Sam Bank freed conducted last week's 
nine figure FTX hack under the instruction of the   Securities Commission of the Bahamas FTX has filed 
a motion with the court claiming the commission's   Actions were unauthorized so FTX didn't like that 
too much the Bahamian government is now one of the   World's largest ethereum holders after converting 
ftx's assets to ethereum so it's interesting they   Chose to convert to ethereum and it's interesting 
now the small government of the Bahamas is one of   The world's largest ethereum holders that's not 
even the craziest thing now Forbes is releasing   Puff pieces on Caroline Ellison the CEO of Alameda 
another puff piece on this whole FTX debacle if   You've been following the story like we have you 
know it was the New York Times just a couple days   Ago who did this whole puff piece on Sam bankman 
freed how he wasn't so bad and now Queen Caroline   Gets top press Alameda research CEO Caroline 
Allison is a math whiz who loves Harry Potter and   Takes big risks she is also one of the supporting 
players in Sam begman Freed's FTX catastrophe and   A new darling of the alt-right what the hell it's 
not that they're 100 wrong it's just the way they   Frame this whole thing it doesn't make any sense 
and now they pinned this tweet they pinned this   Tweet everyone can see they're being paid to run 
fluff pieces on FTX Sam begman freed and Caroline   And they don't care why because nothing's going 
to happen to them so they run the piece and they   Pin it risk loving before we move on to other 
cryptocurrency news see now you understand why   You can't trust the mainstream media there's an 
abundance of news articles making Sam banquin   Freed and Caroline out to be heroes see we know 
it's a lie because it's a topic that we know a   Lot about if you subscribe to our Channel this 
is the topic that you know a lot about imagine   All the bull crap they're getting wrong about 
topics that we don't know about so if the New  

York Times piece on Sam bankman freed and then 
this one from Forbes on Caroline doesn't show   You how the media tries to literally manipulate 
your thought process beliefs and behavior towards   Others then I don't honestly know what to say we 
are literally in a daily fight for our Lives real   Quick guys we will be attending and speaking at 
decentral Miami at the end of this month get your   Tickets for this if you haven't already if you'll 
be in Miami also next year we will be attending   The Bitcoin conference use our code altcoin daily 
for 10 off get tickets to this sooner rather than   Later they're way cheaper now this is the biggest 
Bitcoin conference in the world you don't want to   Miss this and finally if you have yet to vote for 
us for the web 3 influencer Awards we have been   Nominated for a few different categories make 
sure you visit the links in the description and   Vote for us I'd really appreciate it now back to 
the news more crazy things coming out as we get   More information FTX employees were claiming 
expenses through online chat and then random   Managers used emojis to approve them this is all 
coming to light in the bankruptcy filings the new   CEO is putting out this information let's dive 
into it FTX fraud more bombshell revelations in   New bankruptcy filing a new bankruptcy filing from 
FTX CEO John J Ray III has shed light on what he   Called a complete failure of corporate controls 
in the beleaguered crypto exchange so things are   Going from bad to worse for former FTX CEO SBF and 
his accomplices a Thursday bankruptcy filing from   New FTX CEO John J Ray III has shed new light on 
the nefarious activities taking place at the now   Bankrupt crypto exchange under its previous CEO 
SBF Rey is a 40-year veteran of the bankruptcy   Restructuring business with a resume that includes 
supervising enron's dissolution in 2001 in the   30-page document Ray reveals numerous instances 
of poor record-keeping fraud and malpractice at   FTX in his opening statement he commented on the 
company's overall state in uncompromising terms   Stating never in my career have I seen such 
a complete failure of corporate controls in   Such a complete absence of trustworthy financial 
information as occurred here Ray took over from   Sam bankman freed after FTX and its Affiliated 
companies filed for chapter 11 bankruptcy on   November 11th despite his experience including 
experience at Enron Ray made it clear that he   Had never seen a company in such poor shape as 
FTX quote from compromised systems integrity   And faulty regulatory oversight abroad to the 
concentration of control in the hands of a very   Small group of inexperienced unsophisticated 
and potentially compromised individuals this   Situation is unprecedented amazing that FTX had 
some of the worst bookkeeping in modern fraud   History despite having the power of blockchain 
on their side one of the most damning Revelations   From the document concerns loans made out to Sam 
bankman freed and Senior FTX execs nishad sign and   Ryan salami according to Rey the FTX Affiliated 
trading firm Alameda research paid out a total   Of 3.3 billion to Sam bankman freed and his shell 
company paper birds Inc along with 540 million to   Sign and 55 million to salami other bombshell 
Revelations include ftx's negligent approach  

To bookkeeping the document asserts that FTX 
failed to keep appropriate account records and   Security procedures for digital asset Holdings 
which ultimately led to the user deposits on   The exchange being hacked for 372 million shortly 
after it declared bankrupt see there's so much we   Could talk about as far as what was revealed 
in this bankruptcy report just a couple more   Things it was thought that FTX had a balance 
sheet crypto assets worth around 5.5 billion   Rey after digging in now pegs the fair value of 
the company's crypto Holdings at just around 700   000. Ray also divulged that FTX didn't hold 
a complete list of all the employees working   At FTX and its Affiliates what the heck and now 
there's this apparently have you heard about this   FTX insiders claim to be releasing uncensored 
sex tape allegedly between disgraced SBF and   Alameda CEO Caroline Ellison soon supposed 
to be released today cannot confirm whether   It was or wasn't make sure you're following us on 
Twitter for more information if you're interested   In this can't share this on YouTube so where 
do we go from here well FTX Sam bankman freed   Will face Congressional hearings in December 
so look forward to that what you need to know   The U.S House Financial Services committee will 
hold a hearing on the collapse of FTX in December   It will seek testimony from former FTX CEO 
Sam bankman freed Alameda research binance   And FTX itself with over 1 million victims and 
Counting the FTX Scandal is the largest crypto   Related fraud in history speaking about CZ and 
binance testifying before Congress against FTX   And sandbankment freed let me give you a taste of 
what you will hear in December because Andrew from   CNBC asked CZ directly take us through were you 
really intending to buy out FTX and how did you   Decide you weren't going to do it take us through 
the process it was clear FTX misappropriated user   Funds and lied to investors listened to CZ take 
us back if you could to when you first got the   Call from Sam and you first had a chance to 
look at the books because I think a lot of   People are still trying to understand exactly 
what happened here here how much of this was   About commingling how much of this was about 
terrible marking of the books what did you see   I think um I got a call from Sam 24 48 hours 
after I made a tweet he wanted to talk so at the   Beginning I thought he would just wanted to you 
know do OTC deal to buy out the FTD tokens we had   And then he wanted actually a buyout of the entire 
firm of that entire FTX platform it was pretty   Clear pretty soon that this you know um this 
misappropriation of user funds the user funds are   Gone um and at that point um it's clearly that he 
lied to his users his investors his VC investors   His employees at that point I thought I couldn't 
like whatever data that's in the data room we   Couldn't trust anymore so it's quite hard for us 
to do that due diligence so we didn't go very far   You know we've all seen his tweets now overnight 
do you think he understood what he was doing   I think he thought he understood um I think 
he probably still think he understands what   He's doing now which I don't think he should be 
tweeting that's for sure um but but in terms of  

Intent I mean one of the things that's going to 
be looked at I'm sure by Regulators uh potentially   By prosecutors is what he intended to do he 
seems to suggest in a lot of these these these   Tweets that he didn't understand or he didn't he 
mismarked things and when I say Miss marketing   Mislabeled things is what he's I think is the 
phrase that he's used and yet when you looked   Under the books clearly it it appears that he 
was demonstrably co-mingling funds using uh the   Funds to leverage himself up and the like yeah I 
think look I didn't do the due diligence myself   But I think you'll be very very clear that the 
SM knows that he was using the user funds to do   Trading for Alameda and he has been probably 
doing this for quite a while that nobody else   Knew until very recently well a small number 
of people in FTX probably knew but most of the   Other uh normal employees probably did not know 
I think that's probably the most likely situation

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