Michael Saylor unravels the FTX case

Michael Saylor made it clear how Sam Bankman-Fried diverted his clients’ money from FTX to his Alameda fund.

Outcome of the FTX case

Here is the clear explanation of the CEO of Microstrategy about the giant FTX scam:

“There is something unethical about being able to issue your own unregistered air tokens [auprès de la SEC]. Bitcoiners call it the sin of shitcoinery.

Sam and most people in the crypto world have always been guilty of the sin of shitcoinery. Or promote/pumping unregistered air tokens.

It was obvious to the chairman of the SEC and most politicians. The little phrase from the chairman of the SEC that keeps coming back is “the vast majority of cryptos are unregistered securities”.

That said, the FTX case is even more diabolical than that. Here is the modus operandi:

Sam Bankman-Fried sold $8 billion in air tokens (FTT, Serum, etc.). Then, he himself created, ex nihilo, secret locked air tokens before entering them in his balance sheet for an amount of eight billion dollars.

Before going any further, it must be explained that if I, Michael Saylor, held $1 billion worth of Apple shares and went to Goldman Sachs to provide them as collateral in order to obtain a loan, the bank would say to me: “In the face of that billion dollars in Apple shares that you provide as collateral, we can only lend you 5% of its daily trading volume on a regulated stock index.”

In other words, if I bring a security that trades at a billion dollars a day and I own it for a billion dollars, the real value of the collateral that I bring as guarantee will be 50 million of dollars. Which means Goldman Sachs will only lend me $25 million if I bring $1 billion worth of Apple stock.

And I’ll get a margin call if Apple stock moves a single tick. This is how it works in traditional finance.

What Sam did was generate billions worth of FTT, Serum, Solana air tokens. But since he couldn’t get a loan of real dollars from Goldman Sachs, Bank of America or JP Morgan, he turned to the bank called FTX. He made a loan to himself.


Sam granted himself about a hundred times the amount he would have obtained from a regulated bank in the United States. So what he did was mine $10 billion worth of real estate, bitcoins, salable assets, owned by his clients, by pledging $10 billion worth of air tokens. […]

He then sent his FTX clients’ money into the Alameda fund which happens to be his personal family holding company. This is what is diabolical. Sam didn’t just generate $10 billion from an unregistered air token to dump on crypto naive people. It would have taken him 500 days of trading at 20 million a day.

He didn’t do that. What he did was he generated $10 billion worth of unregistered air tokens which he used as collateral to secretly borrow $10 billion from his depositors. He then bet and lost that money through Alameda. »

Watch the full interview HERE. We warmly recommend it to Anglophiles. Here is the excerpt we translated:

Let’s end with a rather interesting fact that just surfaced. It turns out that Sequoia, the Venture Capital giant (which launched Sam with laurels), hadn’t invested that much in FTX.

Of the $210 million invested by Sequoia in FTX, $200 million returned to Sequoia through cross-investment:

“We knew that Sequoia invested $210 million in FTX, but we didn’t know that FTX then invested $200 million in Sequoia. »

How many big names like BlackRock have lathered gigantic ratswatter FTX for tens of millions before getting all their money from behind?

How many millions of dollars were laundered via crypto donations offered to Ukraine before being offered to the Democratic Party?

Each passing day further confirms that Sam’s place is in jail. But also the army of accomplices without whom none of this would have been possible.

And in particular the 8 American deputies who stop the SEC to investigate FTX as early as March…

The “genius” Sam. Haha.

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