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Exclusive: How a secret software change allowed FTX to use client money

In congressional testimony on May 12, Bankman-Fried called FTX’s software “safe, tested and conservative.”

“By quickly unwinding the riskiest, most undercollateralized positions, the risk engine prevents build-up of credit risk that could otherwise cascade beyond the platform, resulting in contagion,” Bankman-Fried testified.

He did not tell lawmakers about the software change to exempt Alameda. Indeed, he told investors that Alameda received no preferential treatment from FTX, the SEC complaint said.

Bankman-Fried had directed subordinates to update the software in mid-2020 to enable Alameda to maintain a negative balance on its account, the SEC complaint said. No other customer account at Alameda was allowed to do so, the complaint added. This would allow Alameda to keep borrowing more FTX funds without the need to provide more collateral.


 

dbair1967

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Is he out of his mind? I really liked him as president, but this crazy schlock is seriously disturbing. Leave caricatures and glitz to the insane left.
Yeah this isn't going to help him.

There's already been a significant change in the polls for the nomination, at one point he was in a landslide type lead and now he's moved to something like 50-38 (which is still significant) but he is definitely losing momentum.
 

yimyammer

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Is he out of his mind? I really liked him as president, but this crazy schlock is seriously disturbing. Leave caricatures and glitz to the insane left.

what the heck is going on?

I watched the video below this morning and thought it was the announcement:



lol at the trading cards, fool lost his own people with that move
 
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VTA

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what the heck is going on?

I watched the video below this morning and thought it was the announcement:



lol at the trading cards, fool lost his own people with that move

:ROFLMAO:

Now that's more like it. I didn't even see this.
I hope he's just creating diversions for some sort of unexpected slight of hand, knowing full well that trading card nonsense will take center stage, while he undermines the autoimmune disease of leftism that's plaguing Western Civilization.
 

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AMARILLO, Texas (AP) — A federal judge on Thursday temporarily blocked the Biden administration from ending a Trump-era policy requiring asylum-seekers to wait in Mexico for hearings in U.S. immigration court.

U.S. District Judge Matthew Kacsmaryk in Texas stayed the termination until legal challenges by Texas and Missouri are settled but didn’t order the policy reinstated.

 

dbair1967

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Tucker Carlson: We were shocked to learn this​

the CIA was involved in JFK's assassination

 

InternetKing

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Final Jan 6th Hearing:



Sign Language (ASL)



Document for the final hearing is attached ...

Wondering who is John Eastman and how he got involved with it...


Big Report will be released on Dec 21st and will be attached on a new post when I get it.

Misc related videos:



 

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InternetKing

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what the heck is going on?

I watched the video below this morning and thought it was the announcement:



lol at the trading cards, fool lost his own people with that move

Captioned version as above (downloaded and reposted on you tube for captions)

 

dbair1967

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