I’m about halfway through Michael Lewis’s book on Sam Bankman-Fried. Anyone else reading this? It’s timely because of the current trial.
My fav part so far is when SBF was trading at a High Frequency Trading shop and figured out the data that Trump was going to win several minutes before it was declared, shorted the stock market and shithole country stock markets thinking they would tank with Trump winning, and the market ripped and he lost $300 million of the firms money.
My other favorite part is how exchanges were giving 100 to 1 leverage and some traders figured out they could put up $1M in crypto currency and both short and long $100M in crypto and either way it went they would take $10M in profit on $1M in crypto then vanish and not pay the other $10M back because cryto is anonymous so you had no idea who was doing the trade. Then the super smart democrat nerds had to “socialize” the losses and clown fvk everyone else on the exchange and take their money to make up for the losses 🤣🤣🤣🤣
I feel like I’m going to read about @San Diego Knight in here.
It is really interesting to learn about all this. Crypto seems like a Tmo and Gus level disaster, except for the few that banked and rode off on their anonymous Dick horse and stuff.
My fav part so far is when SBF was trading at a High Frequency Trading shop and figured out the data that Trump was going to win several minutes before it was declared, shorted the stock market and shithole country stock markets thinking they would tank with Trump winning, and the market ripped and he lost $300 million of the firms money.
My other favorite part is how exchanges were giving 100 to 1 leverage and some traders figured out they could put up $1M in crypto currency and both short and long $100M in crypto and either way it went they would take $10M in profit on $1M in crypto then vanish and not pay the other $10M back because cryto is anonymous so you had no idea who was doing the trade. Then the super smart democrat nerds had to “socialize” the losses and clown fvk everyone else on the exchange and take their money to make up for the losses 🤣🤣🤣🤣
I feel like I’m going to read about @San Diego Knight in here.
It is really interesting to learn about all this. Crypto seems like a Tmo and Gus level disaster, except for the few that banked and rode off on their anonymous Dick horse and stuff.
