Sam Robinhood Fried. No Thank you
In today’s dispatch we have:
Sam Robinhood Fried!
Miss Universe El Salvador goes Bitcoin-glam
14 years of Bitcoin!
Sam Bankman Fried, who's facing some serious time in the slammer if convicted of those fraud and conspiracy charges, decided "why not" and started dishing on the drama in his own Substack newsletter!
And if you're feeling extra generous, you can even pay him for it:
Here's a bunch of statements he made in his post:
"no funds were stolen."
"I didn't steal funds, and I certainly didn't stash billions away." (eye roll)
FTX US "remains fully solvent and should be able to return all customers' funds."
"FTX International has many billions of dollars of assets, and I am dedicating nearly all of my personal assets to customers." (Except for that little half billion in Robinhood shares I tried to sneak away with)
“An extreme, quick, targeted crash precipitated by the CEO of Binance made Alameda insolvent." - Well, that's one way to put it.
“I believe that if FTX International were to reboot, there would be a real possibility of customers being made substantially whole" - Woah! Sam needs to chill with the scary statements. No, thank you, buddy!
Three things Sam conveniently forgot to mention:
Co-founder Zixiao "Gary" Wang and former Alameda CEO Caroline Ellison pleaded guilty to fraud charges and are cooperating with prosecutors.
Sam’s little 'loans' from customer's money.
John Ray's comment on complete corporate failure and lack of trustworthy financial information.
Looks like SBF's "pre-mortem overview" didn't quite hit the mark with the crypto community:
Also, SBF discussed the crypto market crash of 2022, a tweet by Binance CEO that led to FTX's bankruptcy, and how he was pressured to file for Chapter 11. He blamed the crash and a negative PR campaign for the bankruptcy and denied any involvement in allegations that FTX had access to user funds without consent.
Now, give yourself 5 minutes to roll your eyes to the back of your head and come back for more!
Miss Universe El Salvador stuns with Bitcoin-inspired costume
Actress and model Alejandra Guajardo made quite the statement at the pageant's international competition this year, as she walked the stage holding a giant staff adorned with the iconic Bitcoin logo.
Designed by plastic artist Francisco Guerrero, the look featured a staff adorned with the iconic Bitcoin logo and a colón (El Salvador's previous currency) decked out in cocoa beans.
The pageant is not just about beauty. It's also about representing one's country and culture. And by confidently walking the stage with that giant Bitcoin staff, Miss Universe El Salvador was not only making a statement about the potential of cryptocurrency but also about the progress and innovation of her country.
El Salvador has a rich history in cryptocurrency, as it was the first country to adopt Bitcoin as a legal tender. This move generated a lot of attention and interest in the nation's financial technology scene.
On Wednesday, the Salvadoran legislative assembly passed the digital asset issuance law. It includes a new regulatory framework for issuing bitcoin-backed bonds also known as the Volcano Bond.
A Decade and Half of Decentralization: Celebrating 14 years of Bitcoin
Can you believe it's been 14 years since the first-ever Bitcoin transaction? It's hard to imagine a world without revolutionary digital currency. Let's also take a moment to remember one of the key players in the early days of cryptocurrency: Hal Finney.
For those who may not be familiar, Hal Finney was one of the first to become involved with Bitcoin, receiving the first-ever Bitcoin transaction from Satoshi Nakamoto, the mysterious creator of Bitcoin. Finney was also a prominent developer and early advocate of digital currency.
He was one of the first to truly understand the technology's potential and was instrumental in spreading the word about it.
From the early days of mining on your home computer to the rise of professional mining farms and the advent of institutional investment, the Bitcoin ecosystem has evolved and grown in ways that even its creator, Satoshi Nakamoto, couldn't have imagined.
It's been a wild ride, with plenty of ups and downs, but one thing is clear: Bitcoin is here to stay. Let's raise a toast to 14 years of decentralization, transparency, and (potentially) riches. Cheers!"
FTX ticker for today
Eight major media companies demand public disclosure of FTX former CEO's bond guarantors in a letter to a NY District Court Judge.
FTX has recovered $5 billion in assets to repay customers and investors, but some digital tokens may be difficult to sell without depressing market prices.
Attorneys argue that revealing the names of FTX's creditors could harm the value of the company and harm creditors.
The Miami Heat's arena terminates its naming rights with FTX after the platform's demise and possible bankruptcy filing.