What happened at FTX is straight-forward. FTX lent US$10bn of client funds to their trading arm Alameda, which used it for leveraged crypto speculation. Alameda blew up in crypto meltdown & can't repay. Ppl got whiff of this & tried to pull US$5bn from FTX. FTX didn't have it.
Breaking: Brittney Griner was found guilty of drug possession and smuggling in a Russian court outside Moscow. Griner has been sentenced to nine years in prison.
The true length of her detainment will be determined by negotiations on a prisoner swap between the U.S. and Russia.
Heartbreaking video of man confronting police in Uvalde: “Right there! There’s my great-granddaughter! Where were you when they were calling for your help? And you policemen did nothing! Put me in jail, kill me, do whatever you want!”
The mass shooting at Robb Elementary School in Uvalde, Texas, has once again brought American exceptionalism on gun violence into stark relief.
Not one country compares to the US when it comes to the number of children killed inside its borders.
A story that's not getting enough national attention: Here in the Myrtle Beach, S.C. area for the past 13 years, the FBI and local law enforcement officials left the impression that a white girl on vacation was abducted by a 16-year-old black dude who did evil things to her. 1/
How to make $500k a year for you and 4 of your friends for 4 years.
1. Create Web3 landing page
2. Send it to VCs
3. Raise $10m on $50m post
4. Pay everyone $500k per year until money runs out
I’m still reeling that 5 folks who lied in the job app for a lifetime gig given to them by 2 guys who lost the popular vote appear set to overturn a 50 year old law that 70% of Americans want to keep and affects 100% of women and many men
@megastuffs This is why I don’t like borrowing in the first place. It’s all artificial liquidity because many borrower leverage there positions. Also lending platform aren’t sophisticated enough. They are good at managing the specific loan but they fail managing the entire (chain) picture.