Operating at the Intersection of Technology and the Capital Markets
Tag: FTX
I'm thinking of the venture capital community today as SVB Financial goes down for the count. I feel bad for the bank's employees, but could not care less about the bank's clients - the venture capital community at large. How did the FTX fraud come to be? There were two key components to the FTX … Continue reading Fraud Preys On A Lack of Due Diligence
They are rolling over at FTX. Sam Bankrun-Fraud gets to stay at his parents' house (what did they know?), for the time being, but with his co-founders rolling over and admitting guilt in the FTX fraud, I can't imagine Bankrun-Fraud not being locked up for the rest of his life. The real question is will … Continue reading Crypto Crumbles
...Not even for Sam Bankrun Fraud. Good to see that Sam Bankrun Fraud was arrested tonight around 6pm ET at his residence in the Bahamas. The U.S. Attorney for the Southern District of New York will unseal the indictment on Tuesday morning. You leave yourself exposed to fraud when you pass on due diligence. Fraud … Continue reading Fraud Usually Does Not Pay…
50/50 odds on Bankrun-Fraud's freedom. 40/60 odds on his long-term survival. Corzine got away with it. Will Bankrun-Fraud? Former Goldman Senior Partner Jon Corzine commingled funds at his hedge fund - MF Global - a decade ago losing $1.6 billion in customer funds (they were recovered), and got away with a slap on the wrist. … Continue reading 50/50 Odds On Bankrun-Fraud’s Freedom
Coinbase (COIN), is a walking bankruptcy absent an immediate, dramatic recovery in Retail customer sentiment. The probability of an imminent resurgence in Retail enthusiasm for Crypto is close to zero given 2022's various Crypto failures including the recent FTX fraud (FTX founder Sam Bankrun Fraud needs to be arrested ASAP). It hardly bodes well for … Continue reading Coinbase Is A Bankruptcy Waiting To Happen
Tiger Global paid Bain & Co. $100 million to perform due diligence, yet Bain somehow missed that FTX was a fraud. Helpful hint: check the bank statement next time. Then, work your way backwards through the cash flow chain. I can understanding hiring industry experts or functional specialists to assist with your internal investment due … Continue reading Saying “No” To Deals Avoids Blowups
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