Going For Broke: Iż-Żieda U l-waqgħa Ta’ Sam Bankman-Fried

By Bitcoin Magazine - 7 months ago - Ħin tal-Qari: 17 minuti
Thu, 5 ta 'Ottubru, 2023 2:00

Għafas hawn biex sempliċement toħloq tiegħek kont ta 'kummerċ b'xejn u ibda tixtri l-kripto favo tiegħek fi ftit minuti!

Going For Broke: Iż-Żieda U l-waqgħa Ta’ Sam Bankman-Fried

Dan l-artikolu jidher fi Bitcoin Magazine "Il-Kwistjoni Broke". Ikklikkja hawn biex tabbona issa.

L-istorja ta ' Bitcoin has certainly had its fair share of nefarious characters, criminal activity, bad haircuts and worse wardrobes, and yet our anti-hero du jour has seemed to outdo them all. Sam Bankman-Fried, better known by the three letter acronym SBF, burst onto the scene at the peak of the 2017 bubble, founding Alameda Research that September, just four years after graduating from an internship into a full-time position at one of the world’s largest market makers, Jane Street Capital.

SBF is the son of Stanford Law professor and founder of left-wing super PAC Mind The Gap, Barbara Fried, and Stanford professor Joseph Bankman, an expert on tax shelter laws and government regulation. At the start of 2018, SBF had struck digital gold while taking advantage of the arbitrage opportunity presenting itself between a higher demand for bitcoin in the Asian market, colloquially known as the “kimchi premium”. By the end of the year, and after amassing a considerable fortune from this high-volume bitcoin/dollar spread, he officially moved to Hong Kong, formally founding the derivatives exchange FTX in the following spring.

il Bitcoin network that SBF rode from rags to riches and back again was partially launched in direct response to the fiat money experiment rearing its ugly head in the subprime mortgage, real estate and eurodollar crises that culminated into what is now known as the Great Financial Crisis of 2007 to 2009.

"The Times 03 / Jan / 2009 Kanċillier fix-xifer tat-tieni salvataġġ għall-banek"

- Satoshi Nakamoto, January 3, 2009

This now infamous inscription in the genesis block made clear the inappropriate fractional reserve banking and predatory loan fiascos of our regulated banking industry was to be put to rest once and for all by this emergent monetary protocol; a completely transparent and decentralized ledger would de-incentivize fraud and prevent obfuscation of illicit activity. A new competitor to the dollar arose from the ashes of the meltdown, and with it, a new standard for financial fairness, complete with predictable issuance, controlled once and for all by the people for the people. Yet in any system made with good intentions, criminals like SBF and his bought-and-paid-for political and media allies manage to find a way to hurt innocent people for the advantage of an unknown few. Like most intriguing stories of fraudulent financial crimes, this one starts in the Bahamas, and ends with a tidal wave of asset liquidations and broken homes.

"Jekk taħseb li l-Baħamas ħarbat is-sistema tat-taxxa globali tiegħek, għandek sistema tat-taxxa globali pjuttost terribbli."

- Steven Dean, Summer 2020 [1]

Tnedija ta 'Stablecoin, CBDC Race To The Bottom

Il-Baħamas tidher innokwa biżżejjed, u madankollu hemm storja twila ta 'evitar tat-taxxa fl-Istati Uniti, kompluta b'bootleggers li jmexxu r-rum matul l-era tal-projbizzjoni. Waqt li tkompli din it-tradizzjoni, iċ-ċentri bankarji tal-Karibew, inklużi l-Baħamas u l-Gżejjer Cayman, minn Awwissu 2022, kienu r-raba’ l-akbar detenturi barranin ta’ titoli tat-teżor, wara biss il-Ġappun, iċ-Ċina u r-Renju Unit Ftit wara ż-żmien tat-twaqqif tagħha, FTX. kien qed jieħu vantaġġ bis-sħiħ mill-era tal-flus b’xejn li bdiet bil-ħabta tal-2008 u kienet sostnuta minn rati ta’ imgħax baxxi għal żero miġjuba mill-amministrazzjoni Trump.

These rate cuts were started by the Trump-nominated and Biden-renominated Jerome Powell and were further exacerbated by both of their administrations’ COVID responses. An unprecedented pumping of all things dollar denominated occurred, with real estate, stock indexes, bitcoin and a whole bunch of unregistered securities known as altcoins reaching new highs across the board. In June 2019, one month after the founding of FTX, Facebook’s Mark Zuckerberg announced Libra, a digital currency based on a basket of international currencies; a novel take on stablecoins. This launched the stablecoin and CBDC race in earnest, and coincidentally enough, the Central Bank of the Bahamas became the first such institution to announce its own CBDC, the sand dollar, in October 2020. The sand dollar itself was pegged to the Bahamian dollar, which is itself pegged to the United States dollar, and thus with its government-sanctioned launch, the birth of the first central bank-issued stablecoin dollar came to be on the sandy beaches of SBF’s new home.

"What is the reserve currency of the crypto economy going to be? Right now it's unambiguously the USD. And interestingly it's USD whether or not you're looking at the American crypto economy."

- Sam Bankman-Fried, November 5, 2021

Filwaqt li l-gvern ta 'l-Istati Uniti fhimt biża' ta 'riskju sistemiku f'dak iż-żmien, il-gvern Ċiniż fehem li l-proġett Libra kien dollarizazzjoni ta' backdoor tal-muniti G7 rumored li jiġu inklużi fil-basket tiegħu. Ħu tal-Plaza Accord tal-1985 miżmum minn Metaverse, dan il-pjan ta’ banking ċentrali kkoordinat jinfirex lill-utenti tan-netwerk ta’ USD madwar l-akbar netwerk tal-internet, mħaffef bil-veloċità għolja disponibbli f’pagamenti diġitali ċentralizzati u globalizzat min-natura bla fruntieri tal-bażi tal-utenti ta’ Facebook .

The digital yuan was trialed in April 2021 with great haste in reaction to this development, and by the Winter Olympics 2022, had launched for foreign attendees in Beijing. Not to be outdone by these new-look, same-shit fiat cryptocurrencies, Bitcoin made its own financial history when President Nayib bukele of El Salvador took to the stage at Bitcoin 2021 to announce the legal tender aspirations of his small but dollarized nation. On March 9, 2022 President Joe Biden signed Executive Order #14067–”Ensuring Responsible Development of Digital Assets”, which included aspirations for mitigation of financial risks in digital asset markets, as well as a clause stating that within 210 days, the attorney general, in consultation with the secretary of the treasury and the chairman of the Federal Reserve, must provide a formal proposal for a government-issued CBDC.

Sa dan il-punt, il- Bitcoin financial system had been utterly and properly dollar-ified, with billions of dollars in liquidity of dollar-denominated trading pairs making up the lion’s share of market activity. The same can be said for the Ethereum network, which has seen its compliance-driven perversion by non-native assets taking the wheel from its token Ether, as stablecoin and other dollar derivatives now uphold the majority of economic weight of the system. Both stablecoin giants Circle, issuer of USDC, and Tether came out in support of the merge, further ossifying their stake in the now-nearly-70%-OFAC-compliant blockchain. [2] As of this article’s writing, over 15.5 million ether are currently staked without active withdrawals in the Ethereum 2.0 beacon chain, worth nearly $18 billion dollars.[3] Fortunately for Bitcoin, the consensus weight of its system is not manipulated by user stake, and thus the Bitcoin market has been seemingly unaffected – negatively anyway – by this decade-long development. At least until scammer Do Kwon and his ponzi-scheme Luna wreaked havoc on investors at the start of May of 2022.

"[Crypto hija] ovvjament serju ... trid tagħmel tajjeb biha fl-ispazju regolatorju."

- President Bill Clinton, April 27, 2022 (Allegedly) [4]

Ikklikkja l-immaġni hawn fuq biex tixtri The Broke Issue.

Tixrid tal-Kontaġju

Only a few weeks after SBF hosted a keynote with former U.K. Prime Minister Tony Blair and President Bill Clinton at the FTX-organized Crypto Bahamas conference, one of the largest-ever over-the-counter bitcoin purchases was announced by the LUNA team.

Terraform Labs and the non-profit Luna Foundation Guard, two entities headed by Do Kwon, had begun a campaign to purchase bitcoin as a reserve asset in the event that their algorithmic stablecoin, UST, deviated from its $1 peg. Shortly before their collapse, the plan had ballooned to the lofty goal of stacking over $10 billion in the hardest known digital commodity known to man. This purchase was financed with Three Arrows Capital, or 3AC, and was facilitated by cryptocurrency broker Genesis.

"Terra's remarkable growth has continuously reshaped crypto markets over the last two years”, said Joshua Lim, head of derivatives at Genesis. “Genesis is excited to be a liquidity partner to the Terra ecosystem, connecting it to a broader audience of institutional market participants."

Bil - bitcoin reserves of Luna Foundation Guard totalling 80,394 BTC, valued at over $3.1 billion on May 5, 2022, this purchase placed LFG among the top-10 bitcoin holders in the world. [5] But only for a moment, for while it might feel like a lifetime ago, what happened next should look awfully familiar; the peg was attacked, the recently-purchased bitcoin fortune was liquidated, Binance, led by CEO Changpeng Zhao (CZ), aptly halted all trading on LUNA and UST pairs – with notable exceptions to their own stablecoin BUSD – and Kwon seemingly fled to outside of U.S. jurisdiction to Asia. [6]

Thus begins our first of many repeatable points of inquiry; where exactly did this bitcoin go? According to an audit released in November 2022, over 33,000 bitcoin were transferred to Binance on May 10, 2022, and sold along with other assets while failing to defend the peg. [7] The same day the nearly $1 billion dollars worth of bitcoin hit Binance’s order books, bitcoin’s USD price broke below $30,000, falling from $40,000 just a week before.

Fit-13 ta' Mejju, SBF xtara sehem ta' 7.6% f'Robinhood, il-pjattaforma tal-kummerċ li ġiet taħt skrutinju għat-twaqqif tal-kummerċ matul il-fiasco ta' GameStop fil-bidu tal-2021. Bloomberg kien irrapporta li madwar 40% tad-dħul ta' Robinhood ġie direttament mill-bejgħ tal-ordnijiet tal-klijenti lil ditti bħal dawn bħala Two Sigma Securities, u Citadel Securities. [8] Ċittadella kienet ġiet immultata $700,000 f'Lulju 2020 għal kummerċ ta' quddiem imqiegħed mill-ordnijiet tal-klijenti, u f'Settembru ta' dik l-istess sena, Robinhood innifsu ġie mistoqsi mill-Kummissjoni tat-Titoli u l-Kambju tal-Istati Uniti (SEC) talli informat b'mod mhux xieraq lill-klijenti dwar il-bejgħ tal-kummerċ tal-istokks. lil ditti ta' kummerċ ta' frekwenza għolja magħrufa.

Preċedentement f'Diċembru 2020, Robinhood kienet qablet li tħallas $ 65 miljun biex issolvi l-ħlasijiet ta 'dikjarazzjonijiet skorretti ripetuti għan-nuqqas li jiżvelaw l-irċevuti tagħhom ta' pagamenti mill-imsemmija ditti kummerċjali. [9] Meta s-Segretarju tat-Teżor, li għadha kif ġiet nominata, Janet Yellen informat lill-President Joe Biden li għadu kif ġie elett dwar dan il-kunflitt ta’ interess fi Frar 2021, hija stess kellha takkwista rinunzja tal-etika minħabba li rċeviet mill-inqas $700,000 f’miżati għall-kelliema mingħand Citadel LLC is-sena. qabel. [10] SBF kien żvela dan ix-xiri permezz ta' formola ta' Skeda 13-D ippreżentata mas-SEC, li tiswa $648.3 biljun dollaru u tah 2.8% poter tal-vot fl-istruttura tal-ishma ta' klassi doppja tagħhom, taħt l-entità Emergent Fidelity Technologies; isem li jingħad li jiġi ġġenerat bl-addoċċ. [11]

“Fit-13 ta’ Lulju, Coinbase Exchange se jkun qed jgħaqqad il-kotba tal-ordnijiet ta’ USD u USDC. Bħala parti mill-proċess ta’ unifikazzjoni, il-kotba tal-ordnijiet tal-USDC se jingħaqdu taħt il-kotba tal-ordnijiet tal-USD biex tinħoloq esperjenza ta’ kummerċ aħjar u aktar bla xkiel b’likwidità aktar profonda għal USD u USDC.”

- Coinbase Exchange Twitter, June 29, 2022 [12]

Circle, l-entità wara l-USDC stablecoin dejjem aktar utilizzata, qabel kienet espandiet l-offerti internazzjonali tagħhom b’operazzjoni sussidjarja bbażata f’Bermuda b’avviż li sar fit-22 ta’ Lulju 2019. [13] Din l-entità, ippreżentata taħt l-Att dwar in-Negozju tal-Assi Diġitali tal-2018 ( “DABA”) fisser li Circle kien l-ewwel emittent ewlieni ta’ stablecoin li rċieva liċenzja DABA tal-Klassi F (“Sħiħa”) li kopriet l-operat tagħhom ta’ kustodja, servizzi ta’ ħlas, skambju, kummerċ u aktar servizzi finanzjarji fl-isfera tal-assi diġitali. L-imsieħba bankarji l-oħra ta 'Circle, Signet, Signature Bank u Silvergate Capital kienu għamlu self ta' USD lil Celsius, Voyager, Block Fi, Three Arrows Capital u Alameda Research. Sakemm inkiteb dan l-artikolu, kollha kienu ressqu falliment. Tnejn mill-affiljati tan-negozju l-oħra tagħhom, Galaxy Digital u Genesis, irrappurtaw ukoll telf kbir fil-kollass tal-FTX, b'xnigħat ta 'aktar effetti ta' kontaġju ġejjin. Coinbase, skambju nnegozjat pubblikament taħt it-ticker $COIN, ħabbret fl-ittra tagħha lill-azzjonisti Q2 2022 li kważi terz tad-dħul totali ġie derivat minn imgħax fuq holdings denominati f'USD, inkluża pożizzjoni kbira USDC:

“Dħul mill-imgħax kien ta’ $33 miljun, żieda ta’ 211% meta mqabbel ma’ Q1. Iż-żieda kienet primarjament immexxija mill-attività USDC tagħna, kif ukoll rati ta 'imgħax ogħla peress li niġġeneraw interess fuq fondi ta' kustodja tal-klijenti fiat... fl-aħħar tat-2 Q, kellna $ 6.2 biljun f'riżorsi totali ta '$USD. Barra minn hekk, kellna $ 428 miljun ta’ assi kripto.” [14]

Meta l-ittra ġiet rilaxxata lejn l-aħħar ta 'Awwissu 2022, l-imgħax fuq l-azjendi USDC għal 12-il xahar kien sa 4.7%, filwaqt li r-rendimenti ta' xahar kienu saħansitra 4%. Sas-16 ta’ Novembru 2022, ir-rendimenti tal-USDC niżlu għal 0 % fil-qafas ta’ żmien kollu.[15]

“1) Binance converts USDC --> BUSD, and we see the change in supplies. Thus begins the Second Great Stablecoin War.”

- @SBF, October 23, 2022 [16]

F’Settembru 4, 2022, Binance announced that it would be auto-converting all USDC, USDP and TUSD, three major dollar stablecoins, into its self-issued BUSD, effective in just 25 days. [17] This led to continued concerns about Binance’s solvency with the preceding few months, especially July 2022, seeing the largest known outflows of bitcoin in the exchange’s history, eclipsing even March 2020’s black swan bottom.

Fil-11 ta’ Ottubru, 216-il jum wara l-ordni eżekuttiva ta’ Biden bil-klawżola ta’ 210 jum imsemmija, BNY Mellon, l-akbar bank kustodju fid-dinja b’aktar minn $43 triljun fuq il-kotba, u b’kumbinazzjoni, il-kustodju tar-riżervi ta’ Circle li jsostnu l-USDC, ħabbar it-tnedija ta’ dan. programm ta' kustodja ta' assi diġitali. [18] Involut b'aktar minn 20% tal-assi investibbli tad-dinja, il-bank imwaqqaf mill-ewwel segretarju tat-teżor, Alexander Hamilton, kien imniżżel ukoll bħala sieħeb fil-pilota FedNow. [19]

Despite these institutional developments, a continued bear market weighed heavily on the now-plummeting bitcoin price. Paradoxically, more and more Bitcoin hash rate poured onto the network. These concurrent movements saw Bitcoin’s hash price plummet to an all-time low, spurring a massive liquidation of bitcoin liabilities off mining operators books. On October 26, Qalba Xjentifika, then the largest Bitcoin mining operation in the world, filed for bankruptcy with millions of dollars in debt liabilities, thousands of ASICs, and yet in their filings, held only 24 bitcoin total when the circus came to town. [20] Where exactly did all this bitcoin go? On that same day, barely two weeks before the FTX collapse, Binance saw its largest single day outflow, with 71,579 coins, totalling over $1.1 billion in dollar terms. [21] This pushed net outflows to nearly 95,000 coins from the world’s largest exchange since just that July. Again, where exactly did all this bitcoin go? The very next day, October 27, 2022, SBF appeared on The Big Whale and announced future plans for FTX to launch its very own stablecoin. [22]

Aktar ramel minn dollari

“Is-CIA u l-Mossad u l-elite tal-pedo qed imexxu xi tip ta’ ċirku ta’ rikatt ta’ traffikar sesswali minn Puerto Rico u l-gżejjer tal-Karibew. Se jtellgħuni b'laptop imħawla mill-ex gf tiegħi li kien spy. Se jittorturani sal-mewt.”

- Nikolai Muchgian, October 28, 2022 [23]

Fl-24 ta' Ottubru 2022, il-MakerDAO approva proposta tal-komunità għall-kustodja ta' kważi $1.6 biljun USDC ma' Coinbase Prime. [24] Erbat ijiem wara, Nikolai Muchigan, il-ko-fundatur ta’ MakerDAO u inventur ta’ Rai, stablecoin DAI-fork, tweeted li ħajtu kienet fil-periklu minħabba ċirku ta’ rikatt fuq gżira tal-Karibew, allegatament appoġġjat minn aġenti tal-intelliġenza Iżraeljani u Amerikani. . Tlett ijiem wara, f’Halloween, il-coder Muchigan ta’ 29 sena instab mejjet, wara li għereq fil-baħar ‘il barra minn Condado Beach f’Puerto Rico. [25]

Two days later, on November 2, 2022, CoinDesk reporter Ian Allison released findings that over a third of all assets – around $5.8 billion of $14.6 billion – on the balance sheet of SBF’s Alameda Research was intrinsically, and soon to be fatally, linked to FTX’s exchange token FTT. A “bank” run commenced, and after three days of nearly $6 billion in withdrawals, FTX was left with literally one single bitcoin. Where exactly did all this bitcoin go? The next day in an interview with Fortune, Coinbase founder and CEO Brian Armstrong made note that USDC will become the de facto central bank digital currency in the U.S. [26]

“Dawn li jfasslu l-politika fl-Istati Uniti se jistabbilixxu l-qafas li jeħtieġ li jiġi segwit sabiex is-suq privat fil-fatt joħloq is-soluzzjonijiet, u l-munita USD kienet qed tiżdied tassew mgħaġġla... l-ambjent regolatorju huwa wieħed mill-akbar ftuħ li sejrin li jkollna f’termini ta’ tkabbir ta’ din l-industrija u forsi anke li l-prezzijiet jitilgħu lura fid-direzzjoni t-tajba”

- Brian Armstrong, November 3, 2022

On November 6, CZ announced Binance would liquidate a remaining portion of FTT it had acquired from exiting FTX’s equity, having received around $2.1 billion in BUSD and FTT. Minutes after his announcement, Caroline Ellison, SBF’s partner and the CEO of Alameda Research, offered to purchase the tokens at $22 each, in an over-the-counter fashion. [27] By November 8, CZ and SBF had a phone call and seemingly came to a tentative deal for acquisition, reserving the right to back out of the deal at any time, while interestingly also leaving both U.S.-based proprietary exchanges, Binance.us and FTX.us, outside the scope of the deal.

“Things have come full circle, and FTX.com’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for FTX.com (pending DD etc)”, SBF tweeted. [28]

Aktar tard dik il-lejla, FTX issospendiet uffiċjalment l-irtirar kollu tal-assi. Bħala parti mill-kundizzjonijiet tal-akkwist, SBF kien sfurzat jiftaħ il-kotba tal-FTX u juri l-qiegħ tal-bwiet tiegħu; jara aktar ramel minn dollari, CZ sostnuti mill-ftehim. Saru ftit dikjarazzjonijiet importanti fit-48 siegħa jew hekk li wasslu għal dan il-katakliżmu f'daqqa, inkluż mill-Kummissjoni nnifisha tat-Titoli u l-Kambju tal-Istati Uniti, kwieta ħafna.

“Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won't pretend to make love after divorce. We are not against anyone. But we won't support people who lobby against other industry players behind their backs. Onwards.”

- CZ, November 6, 2022 [29]

Fis-7 ta’ Novembru, 2022, is-SEC uffiċjalment qieset LBRY, jew Library Coin, offerta ta’ sigurtà mhux reġistrata, li stabbiliet preċedent devastanti fis-suq tal-kripto-munita estiż. [30] Fil-Qorti Distrettwali tal-Istati Uniti għad-Distrett ta’ New Hampshire, il-memorandum u l-ordni kienu jgħidu, “The Securities and Exchange Commission (SEC) issostni li LBRY, Inc. offriet u biegħet titoli mhux reġistrati bi ksur tat-Taqsima 5 tat-Titoli. Att tal-1933”, l-att magħruf b’mod kolokwali bħala The Howey Test.

Minħabba li LBRY rriserva pre-minjiera ta 'kważi 400 miljun tokens LBC, u l-għarfien li l-kumpanija sal-lum kienet nefqet madwar nofs l-LBC pre-mined tagħha, is-SEC iddeterminat intrapriża komuni kompluta b'nuqqas ta' żvelar u preżentazzjoni xierqa ta 'l-LBC tagħha. issa allegata offerta tas-sigurtà permezz tal-kanali meħtieġa fis-SEC ippreseduta minn Gary Gensler. L-implikazzjonijiet ta 'dan il-preżentata bagħtu shockwaves madwar l-industrija tat-tokens pre-mined, inklużi skambji li jelenkaw dawn it-tokens kif ukoll l-entitajiet wara l-ħruġ tagħhom. B'mod konvenjenti, l-għada kien it-8 ta 'Novembru, l-elezzjonijiet ta' nofs it-terminu tal-Istati Uniti, bil-bilanċ tas-senat u l-kamra - u forsi t-triq regolatorja tal-industrija tal-assi diġitali - għal darb'oħra f'riskju.

It-tfittxija għal FTX fuq FEC.gov iġib 456 kontribuzzjoni ta' kampanja individwali minn SBF, CEO Ryan Salame, u oħrajn. [31] Il-kontribuzzjonijiet ta' Salame jammontaw għal aktar minn $14-il miljun lejn kandidati tal-GOP, filwaqt li l-“altruiżmu effettiv” tal-SBF kkontribwixxa aktar minn $20 miljun f'donazzjonijiet lill-politiċi tad-DNC. Wara li kien it-tieni donatur ewlieni għall-kampanja Biden, sa meta daħlu l-għadd finali mill-lejl tal-elezzjoni, il-bankroll ta 'SBF kien finalment laħaq il-morali tiegħu, u sab ruħu kważi kompletament fallut.

By November 9, the day after the elections, SBF had reportedly lost 94% of his net worth, down to $1 billion from more than $15 billion, leaving him with the largest single-day loss by a person according to the Bloomberg Billionaire Index. [32] Early in the morning of November 10, SBF took to Twitter to explain what happened, writing “I'm sorry. That's the biggest thing. I fucked up, and should have done better”, before making a specific note that “THIS IS ALL ABOUT FTX INTERNATIONAL, THE NON-US EXCHANGE. FTX US USERS ARE FINE!” [33]

Kapitolu 11

“The administration [...] has consistently maintained that without proper oversight, cryptocurrencies risk harming everyday Americans…The most recent news further underscores these concerns and highlights why prudent regulation of cryptocurrencies is indeed needed.”

- White House Press Secretary Karine Jean-Pierre, November 10, 2022 [34]

Fil-ħdax-il jum tal-ħdax-il xahar, FTX u Alameda Research ippreżentaw uffiċjalment għall-protezzjoni tal-falliment tal-Kapitolu 11, u SBF ċeda bħala CEO. Barra minn hekk, 130 kumpanija affiljata konnessi jew assoċjati ma 'FTX ukoll bdew proċedimenti volontarji taħt il-Kapitolu 11. [35] Il-marea kienet marret, u kważi kulħadd involut inqabad jgħum għarwien, hekk kif mewġa ta' marea kważi bla tarf ta' likwidazzjonijiet denominati f'dollari saret ħidma mgħaġġla tal-imperu tal-Karibew tal-SBF.

Filwaqt li l-ewwel tqattigħ ta 'CBDC dollaru setgħu bdew fil-Baħamas, il-monsoon tar-regolamentazzjoni li ġejja u l-kontaġju tat-Tieni Gwerra l-Kbira ta' Stablecoin għadu 'l bogħod milli jintemm. Id-dollaru, wara li waqa '10% mill-ogħla livelli ta' DXY ta '35 sena minn Settembru, ifittex modi ġodda biex jinnova u jiddolarizza aktar is-swieq madwar id-dinja.

On November 15, just four days after the SBF tsunami crashed to shore, BNY Mellon, as well as a dozen or so other banking institutions, announced the start of a twelve-week digital dollar pilot program with the Federal Reserve Bank of New York. [36] On the very same day, BlockFi announced plans for bankruptcy filings, only five months after taking a $250 million loan from FTX, and Circle announced users would now be able to settle payments by accepting Apple Pay. [37,38] With a significant 43% discount now showing on the highly-regulated Grayscale Bitcoin Trust, further community requests for proof of reserves are growing around Genesis and Grayscale, both owned by the Digital Currency Group, and even their custodian, Coinbase Custody. [39,40] As of this writing, these requests have so far been denied for security reasons.

Filwaqt li jidher li qed isuq il-mewġa tar-rivoluzzjoni tal-assi diġitali li qed jisplodu, jiġbor l-approvazzjonijiet taċ-ċelebritajiet u l-alleati politiċi bl-istess mod, jirriżulta li SBF kien qed jegħreq fid-dejn u l-allokazzjoni ħażina tal-kapital fost it-tifħir qawwi u prinċipali. Aktar tard dak ix-xahar, fit-30 ta’ Novembru, SBF kien se jidher personalment f’avveniment tan-New York Times, sponsorjat minn Accenture, flimkien mas-Segretarju Yellen, il-Kap Eżekuttiv ta’ Meta Mark Zuckerberg, il-President tal-Ukrajna Volodymyr Zelensky, il-Kap Eżekuttiv ta’ BlackRock Larry Fink, il-Kap Eżekuttiv ta’ TikTok Shou Chew, l-eks Viċi President Michael Pence, il-Kap Eżekuttiv ta’ Amazon Andy Jassy, il-ko-fundatur u CEO ta’ Netflix Reed Hastings, is-Sindku ta’ New York City Eric Adams, u oħrajn; biljetti għall-avveniment kienu elenkati għal $ 2,499 għal kull parteċipant.[41] L-intervista bejn SBF u Andrew Ross Sorkin kienet imxandra kif reklamat, għalkemm biż-żewġ partijiet jisparaw mill-bogħod.

Bitcoin tends to be a ballast of truth, bringing all sorts of ballooning fraud rushing to the surface. FTX and Alameda Research will take their place amongst the seemingly too-big-to-sink players that ended up doing just that. They will certainly not be the last. However the following weeks, months, and years play out, it is clear that SBF was but a small fish in an ocean-sized, dollarized pond. And as he quickly found out, there is always a bigger fish.

“F’xi punt jistaʼ jkolli iktar xi ngħid dwar sieħeb taʼ sparring partikolari, biex ngħidu hekk. Imma tafu, djar tal-ħġieġ. Mela għalissa, kull ma ngħid hu: lagħbu tajjeb; Irbaħt." [42]

– Sam Bankman-Fried, 10 ta’ Novembru, 2022

Dan l-artikolu jidher fi Bitcoin Magazine "Il-Kwistjoni Broke". Ikklikkja hawn biex tabbona issa.