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FTX Contagion, what we know, so far...

Posted on 12/6/22 at 7:42 am
Posted by GhostOfFreedom
Member since Jan 2021
11706 posts
Posted on 12/6/22 at 7:42 am
Posted by Catahoula20LSU
Louisiana
Member since Oct 2011
2109 posts
Posted on 12/6/22 at 7:46 am to
So who is stupid enough to invest millions from a pension fund into crypto?

That advisor should be fired. Period.
Posted by Dirtyboro
Member since Jul 2014
717 posts
Posted on 12/6/22 at 7:46 am to
Counterfeit shares disguised as tokens are pretty destructive
Posted by SantaFe
Baton Rouge
Member since Apr 2019
6572 posts
Posted on 12/6/22 at 7:47 am to

Holy Jesus...
Posted by the_truman_shitshow
Member since Aug 2021
2755 posts
Posted on 12/6/22 at 7:50 am to
Nice graphic - clearly delineates the path of stupid money
Posted by Diamondawg
Mississippi
Member since Oct 2006
32242 posts
Posted on 12/6/22 at 7:51 am to
I don't watch news. So is this getting 24/7 coverage by MSM as it should? (sarcasm)
Posted by jclem11
Neoliberal Shill
Member since Nov 2011
7769 posts
Posted on 12/6/22 at 7:51 am to
Crypto is all scams and rugpulls. Don't frick with crypto, baws. Unless you are a masochists who enjoys pain.

Shoutout /r/buttcoin/.
Posted by the_truman_shitshow
Member since Aug 2021
2755 posts
Posted on 12/6/22 at 7:52 am to
And why does Softbank always seem to be losing money? A bunch of gamblers over there...
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
260477 posts
Posted on 12/6/22 at 7:52 am to
quote:

So who is stupid enough to invest millions from a pension fund into crypto?


Our PFD fund managers did.

Not a pension but a trust fund that helps fund govt and is given as a payout once a year to residents.
Posted by momentoftruth87
Member since Oct 2013
71421 posts
Posted on 12/6/22 at 7:53 am to
Im happy for those who made money and didnt get burnt but crypto was always going to crash or get regulated to death
Posted by Texas Yarddog
Member since Apr 2018
2613 posts
Posted on 12/6/22 at 8:44 am to
On purpose, by Feds and banks, in order to push digital currency.
Posted by CleverUserName
Member since Oct 2016
12616 posts
Posted on 12/6/22 at 8:50 am to
quote:

Ontario Teachers Pension plan. -> 95 million


Hope they aren’t teaching economics!

Looks like the inflation adjustment checks may be a lil late. And better cash it as soon as you get it.
Posted by tadman
Member since Jun 2020
3815 posts
Posted on 12/6/22 at 9:20 am to
Forgot the outflow arrows into Ukraine and DNC.
Posted by Cajun75
Member since Mar 2022
605 posts
Posted on 12/6/22 at 9:23 am to
No surprise to not see any Warren Buffet money invested...guy has always been super wary about anything he doesn't understand which is a great rule for everyone.
Posted by timdonaghyswhistle
Member since Jul 2018
16287 posts
Posted on 12/6/22 at 9:26 am to
quote:

No surprise to not see any Warren Buffet money invested


Maybe it was someone else, but I believe Buffet once said that he wouldn't pay $25 for all the Bitcoin on earth.
Posted by udtiger
Over your left shoulder
Member since Nov 2006
98760 posts
Posted on 12/6/22 at 9:27 am to
Yet the fricktard CEO is being interviewed like a fricking celebrity to this day.
Posted by timdonaghyswhistle
Member since Jul 2018
16287 posts
Posted on 12/6/22 at 9:30 am to
quote:

Yet the fricktard CEO is being interviewed like a fricking celebrity to this day.


Does anyone else remember back during the Enron disaster and then to a certain extent during the AIG crisis that law makers and regulators clearly stated that "ignorance" was never an excuse and going forward it will be even less so.

Well, here we are.

It's interesting how the usual suspects like Elizabeth Warren who love to portray themselves as a watch dog for the American consumer and investor have been strangely agnostic on this.
This post was edited on 12/6/22 at 9:44 am
Posted by KiwiHead
Auckland, NZ
Member since Jul 2014
27498 posts
Posted on 12/6/22 at 9:35 am to
An old Wall St. guy once told me that if it takes more than 2 minutes to explain how it works, it's probably a bad thing to invest in.
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