👹💰🐴 FTX Appears to Be a Political Ponzi Scheme Running Dollars to Politicians and Through Ukraine 👹💰🐴 - The Great Awakening

👹💰🐴 FTX Appears to Be a Political Ponzi Scheme Running Dollars to Politicians and Through Ukraine 👹💰🐴 (www.thegatewaypundit.com)

posted 2 years ago by MAGA_Patriot_1776 2 years ago by MAGA_Patriot_1776 +444 / -0

FTX Appears to Be a Political Ponzi Scheme Running Dollars to Politicians and Through Ukraine

The FTX collapse is just another day in the life of Democrat and RINO corruption in the US. This scandal involves Ukraine as well. As mentioned previously, the FTX crypto company gave at least $40 million to Democrat candidates and causes in the midterms...

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– AllMostThere 6 points 2 years ago +6 / -0

17 makes a very important appearance in all this. FTX thought their leverage was 0%, but for some reason it was exactly 1.7%.

This 1.7% is the main reason being blamed for the downfall of FTX.

Bankman takes responsibility for "poor internal labeling of bank-related accounts," which meant "that I was substantially off on my sense of users' margin." Before, he assumed 0 leverage with enough USD liquidity to deliver 24 times the average daily withdrawals. In reality, leverage stood at 1.7x and once the run on FTX accounts began, there was only enough liquidity to cover 80% of the $5 billion withdrawn on Sunday.

https://www.investors.com/news/ftx-faces-regulatory-probe-binance-unlikey-to-buy-ftx/

Link to Bankmans 1.7 tweet:

My sense before:

Leverage: 0x USD liquidity ready to deliver: 24x average daily withdrawals

Actual:

Leverage: 1.7x Liquidity: 0.8x Sunday's withdrawals

Because, of course, when it rains, it pours. We saw roughly $5b of withdrawals on Sunday--the largest by a huge margin.

https://twitter.com/SBF_FTX/status/1590709174572572675?s=20&t=OXcyqc3j-Qzqt6e3zTNAOw

Heres a good breakdown of the strangeness surrounding this massive 1.7% oopsie :

https://files.catbox.moe/t70zb5.jpg

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– schiff_for_brains 3 points 2 years ago +3 / -0

1.7x is 170%, not 1.7%. Big difference.

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– AllMostThere 2 points 2 years ago +2 / -0

True it's 170% more

There is no way is was just an over sight

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