Sage Investment Club

More contagion to come…at least according to Coinbase CEO Brian Armstrong. If you read more you will realize contagion is definitely coming soon to crypto world. (Contagion means shit is going to hit the fan).As you might suspect, SBF/FTX was far from alone in its shady crypto practices. In case you’ve been in a cave, FTX under SBF took money from crypto investors who thought they were just buying crypto, and he lent it to his own hedge fund, then his hedge fund lost it all buying shit-coins and other delusional investments. Retail investors then learned they can’t get their money back from this “exchange” which they thought was akin to using Fidelity. Turns out FTX was just a money pyramid ponzi scheme.SBF was an MIT grad, and when he was chomping adderall, I’m sure he figured he was just too smart for regulators. He created a shitload of different entities, and called some of these entities “lenders” that would “behave” like banks (meaning, take your money, loan it to themselves in some scheme to enrich themselves) and others hedge funds or venture capital funds so that he could receive loans and squirrel away other people’s money. At the height of the shitcoin craze, SBF claimed he was worth $100 billion on paper (provided he could sell the shitcoins)SBF was not the only degenerate “genius”. There was a whole fucking array of similar characters. One of them is Barry Silbert. Barry just wrote a letter saying he installed an “independent” management team at the lender subsidiary (Genesis) of his crypto conglomerate, DCG. He figured this “independence” was all he needed to facilitate fraud. After all, banks are allowed to your deposit money and loan it out to others. Difference is that banks have to be pretty careful because regulators come around and audit them. No auditors are needed in crypto world though.These conglomerates figured they could use these sham banks to take your many and do whatever they fuck they wanted with it. In the case of DCG, their “independent” wholly owned lender (Genesis) loaned money to a hedge fund (3 Arrows Capital) that in turn invested almost all of its assets into the largest bitcoin fund ever, the Grayscale Bitcoin Trust (GBTC). Just so happens that GBTC is managed by DCG. Furthermore, GBTC buys bitcoins but never sells them. And it pays a 2% management fee on its BTC holdings every year to DCG, forever. Even though you own bitcoin via the trust, the legal arrangement does not allow you to touch it. Your bitcoin exists primarily to create an annuity forever to DCG and Barry Silber.Turns out Grayscale (again a wholly owned but “independent” DCG subsidiary) has a shitload of these shady deals set up to buy digital assets: “smart contracts”, Ethereum, shitcoins etc. In the end, however, it is all a just a fucking money pyramid designed to fuck anyone stupid enough to invest in this bullshit.Which leads us back to Coinbase. Where do you think all of the Grayscale assets are stored? Coinbase. In some cases Coinbase can profit further by using these assets to generate money via staking and other high interest schemes like those created by the Winklevoss twins (ie Gemini Earn).Furthermore, all of these crypto conglomerates employed motherfuckers that used internal data to front-run their customers for profit off. After all, Wall Street isn’t fair to retail, so they should be able to exploit retail for profit as well. Read about the guy convicted of insider trading via his brother’s information from his employer at Coinbase.He made almost a million buying shitcoins just before they were listed on Coinbase. was doing the same fucking thing at FTX via his hedge fund, Alameda Research. did it as well: it turns out that Genesis lost a fuck-load of money on these loans to “independent (wink wink)” companies. It is going bankrupt any day now. Although DCGs leader, Barry Silbert, claims all of its subsidiaries had independent directors (though many of these have fled as fast as possible recently to avoid future prosecution), he is smoking crack if he thinks the average idiot can’t figure out this juvenile self-enrichment scheme. I suspect any lawyer with brain will easily be able to follow the money and self-dealing back to DCG. In fact, several have a start already. The Winklevoss twins were also fucked by DCG and Silbert. They have clearly figured it out: have a number of journalists (see link at end of this article, I’ve read many like it)So what is the likely outcome? This crypto shit in the short term is a fucking house of cards about to come tumbling down. It is all intermingled. Guess what, a lot of the money and digital assets are stored at Coinbase. People are going to trust the space a lot less than they do now in a fairly short time frame.A lot of smart people have concluded there are many crypto money-pyramids designed steal retail money. Money pyramids are not a new thing. Which is why there has been a rush of institutions withdrawing cash from these “exchanges” / “trading platforms” / or whatever these degenerates call these companies.Sooner or later, these “trusts” are going to be liquidated by creditors. Could take a bit of course, but its so fucking obvious that I don’t think it will take as long as you might think. When it does happen, Bitcoin and a lot of crypto is going to sold all at once.Now I think Bitcoin has utility and it will be around. What will not be around are these degenerate schemes to steal your money. Problem is, this way of business is just standard in crypto.If you are naïve enough to believe any of this shit is real, God help you.In other words, stay the fuck away from Coinbase and all this shit until regulators figure out how to put the brakes on this theft.+++++++++++++++PS there are a ton of good articles if you want to educate yourself more and/or check the facts above. Here is one of them from Matt Levine on Bloomberg:

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