FTX Deep Fake – The money is gone

Sam Bankman-Fred, the disgraced founder of FTX, is hiding out in the Bahamas, where he is allegedly trying to recover “lost” money. “I hate what happened and I very much wish I had been more careful,” Bankman-Fried negatively stated to reporters at CNBC after causing his clients to lose billions in cryptocurrency. No one is going to lend that guy a penny or touch FTX.

FTX filed for Chapter 11 on November 11, and John Ray III, the man who restructured Enron, is now CEO. Ray said he hoped to be saved but said the situation was dire and the worst failure he had ever seen in his 40-year career. FTX’s balance sheets wereUnaudited product while debtors [FTX] It was under the control of Mr. Bankman FriedAccording to Ray. Since there is no accurate bookkeeping, “it would not be appropriate for stakeholders or the court to rely on audited financial statements as a reliable indicator of financial conditions.” Ray believes that a “significant portion” of FTX’s property is either stolen or missing.

Sam Bankman-Fried said he wishes FTX had not filed for bankruptcy because he could no longer personally control the company’s restructuring. FTX and its 100 Delaware-based subsidiaries fall under Chapter 11, but FTX Digital Markets, headquartered in the Bahamas, is separate and Bankman-Fried believes it has some knock-on with these assets. “The regulators, they just make everything worse,” the 30-year-old wrote on Twitter. Regardless, the money is gone.

A deep fake video went viral over the Sam Bankman-Fried weekend:

“Hello everyone. As you know our FTX exchange is going bankrupt,” the deep fake of Bankman-Fried said in the video. “But I hasten to inform all users that you should not panic. As compensation for the loss we have prepared a giveaway for you in which you can double your cryptocurrency. To do this, just go to the site [redacted].”

The video attempted to take advantage of victims by asking them to sign up for a fake crypto giveaway. The video is a complete lie – this is not Sam Bankman-Fried, and the victims will not receive compensation. What people need to understand is that there is no record of this money anywhere. Nobody knows who worked at FTX, as all key information was protected. These mysterious employees were encouraged to use programs that automatically delete messages, and they often spoke in code. Alameda Silo, Ventures Silo, and Bankman-Fried the other entities allegedly invested in the holdings but did not keep a record of their activities. There is no list of bank accounts, signatories, or evidence of the debtors’ creditworthiness. No one knows how much money FTX should have or where the money went.

Don’t believe these deep fakes and don’t believe anything Bankman-Fried says, fake or not. As Ray explained, “Mr. Bankman-Fried does not work for or speak for debtors. Mr. Bankman-Fried, who is currently in the Bahamas, continues to make erratic and misleading public statements.”

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