“As panic grew among the top ranks of FTX, Bankman-Fried talked a lot about how he could raise more money from lenders and investors, Ellison testified.

She said Bankman-Fried talked repeatedly about trying to get money from Mohammed bin Salman, the crown prince of Saudi Arabia. The plan, as she detailed it, was to use money from Saudi Arabia to pay back Alameda's lenders. But that funding never materialized.”

Reply to this note

Please Login to reply.

Discussion

I'm surprised he hasn't been black bagged by some pissed off lender

Solid meme!

Thanks! This story is so mind blowing 🤯

Make a meme about the Chinese politicians they bribed.

caption: "effective Ponzi-ism"

⚡️

One imagines they would both be dead if they were successful in that scheme

Lol right? Blew my mind when I read that line.

scammers brainstorming exit liquidity 🤦🏾‍♂️

Lol right 😂

Lucky for him. They would have puréed him for not returning funds.

🤣🤣

Funny but true.

Lol 💯

Taking FTX private at $420