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Ripple’s XRP seems to have run out of gas after an incredible 2025. The popular crypto climbed to a new all-time high of $3.65 in July of last year, but has since fallen by nearly 58%. According to Co

XRP Falls To November 2024 Price Levels: Will It Dip To $0.50?

Sent: Building the Open GRID Network

JUST IN: FED ALERT $ZAMA ZAMA 0.03721 +48.84% 🇺🇸 Fed Chair Jerome Powell is scheduled to deliver an urgent statement at 12:30 PM today. $ZEUS ZEUS Alpha 0.0089232 +1411.63% What to watch: • Inflation 

 Acu: Serverless Cloud via Idle Mobile Devices

#jupiter adds Polymarket integration on #solana A new Prediction tab is now live in the @jupiterexchange app, giving users direct access to @Polymarket’s onchain prediction markets through Jupiter’s S

200 USDT | Share Insights on 2026 Crypto Trends

Another golden shovel? The HTX announcement just came out, and BEAT (Audiera) will go live tomorrow. Let me briefly explain the logic: First, it's an AI-native entertainment ecosystem, which belongs t

Dusk: Privacy L1 for Finance

Create Content for HTX and Win a Share of 1000U!Create Content for HTX and Win a Share of 1000U!Claim1,200 USDT in the Monthly Creation Challenge OpenLedger positions the data layer as foundational AI

Create Content for HTX and Win a Share of 1000U!

Claim1,200 USDT in the Monthly Creation Challenge


OpenLedger positions the data layer as foundational AI infrastructure, not an afterthought. Instead of treating data as something AI merely consumes, OpenLedger makes it a first-class, on-chain primitive.
Millions of data interactions are attributed, verified, and settled directly on-chain, creating a transparent system where data providers are fairly recognized and compensated. This architecture tightly couples data, training, and inference, ensuring that AI models evolve with verifiable inputs and accountable outputs.
By unifying AI and blockchain at the data layer, OpenLedger enables a new class of AI systems—trust-minimized, composable, and economically aligned—where data provenance, incentives, and intelligence scale together.

Here’s an expanded version of the post with more c

200 USDT | Share Insights on 2026 Crypto TrendsCheck In Weekly, Win Prizes Weekly — Join the Fun!Predict BTC's Price & Win 450M $HTX for 30 DaysCryptoQuant объявляет биткоин медвежьим трендом: бычий с

Check In Weekly, Win Prizes Weekly — Join the Fun!

Predict BTC's Price & Win 450M $HTX for 30 Days

CryptoQuant объявляет биткоин медвежьим трендом: бычий сезон закончился! «Виноват только один человек!»


Падение биткоина и альткоинов на самом деле не является новой тенденцией. После длительного нисходящего тренда, начавшегося с крупного обвала в октябре, $BTC продолжает резко падать, цена опустилась ниже 75 000 долларов.


После последнего падения общая рыночная капитализация криптовалют снизилась до 2,6 триллиона долларов, а дебаты о том, будет ли биткоин коррекцией или медвежьим рынком, продолжаются.


В то время как некоторые аналитики утверждают, что падение является нормальной и здоровой коррекцией, другие заявляют, что $BTC сейчас демонстрирует медвежьи сигналы.


На данный момент Хулио Морено, руководитель отдела исследований CryptoQuant, утверждает, что текущий рынок явно является медвежьим рынком, а не коррекцией бычьего рынка.


 Хулио Морено, поделившись своим последним анализом от аккаунта X, утверждал, что текущий рынок явно находится в медвежьем тренде, и что ответственность за это лежит на компаниях, управляющих биткоинами.


«Если бы вы указали пальцем на виновников этого медвежьего рынка, то это были бы казначейские компании».


«Они перенаправили реальный спрос на спотовом рынке биткоинов в другое место, а затем уничтожили весь спрос».


По словам Морено, ключевой момент здесь заключается в том, что, хотя масштабная корпоративная интеграция биткоина в финансовые стратегии могла увеличить спрос в краткосрочной перспективе, впоследствии это ослабило структуру рынка.


Аналитик сказал, что люди по-прежнему считают, что падение — это коррекция бычьего рынка, но реальность иная.


Морено, напомнив, что он постоянно говорил о медвежьем рынке с начала ноября прошлого года, предупредил, что попытки поспешно покупать по низким ценам, полагаясь на краткосрочные отскоки или технические сигналы в рамках нисхо

CryptoQuant объявляет биткоин медвежьим трендом: б

$ARPA Token Economics & Governance

Check In Weekly, Win Prizes Weekly — Join the Fun!LIT: DEX with Verifiable Order ExecutionSynbo 与 LNT 合作，为 Web3 增长平台提供可扩展性和效率 LNT（闪电网络代币）平台是一种增强比特币闪电网络并使其在日常使用中更加可靠的协议，今天宣布与 Synbo Labs 建立战略合作伙伴关系，Synb

Synbo 与 LNT 合作，为 Web3 增长平台提供可扩展性和效率

LNT（闪电网络代币）平台是一种增强比特币闪电网络并使其在日常使用中更加可靠的协议，今天宣布与 Synbo Labs 建立战略合作伙伴关系，Synbo Labs 是一种去中心化协议，可作为链上启动板，促进 Web3 项目的发展。通过这种技术集成，Synbo Labs 利用 LNT 的比特币 Layer-2 基础设施，使其能够在其 Web3 启动板和资本生态系统中为用户提供高级机会。

Snybo Labs（也俗称 Synbo 协议）不仅仅是一个去中心化的启动板；它运行着一个全面的 Web3 生态系统，使用户能够参与各种去中心化应用程序。它运营着一个去中心化的风险投资，允许用户推动资金决策并确保 Web3 项目在广泛支持下取得成功。

虽然传统风险投资在初创企业领域仍占主导地位，但 Synb 为主流用户和企业提供了一种激进且有意义的方法。 Synbo 不像初创公司那样依赖风投的集中融资，而是采用去中心化（社区）共识融资方式，由用户（而不是看门人）决定哪些 Web3 项目获得资金。

除了让任何人都可以使用去中心化平台参与早期融资之外，Synbo 的链上启动平台还将创新项目与网络社区连接起来。此外，其去中心化平台允许用户通过自我托管资产参与 DeFi 流动性提供活动并赚取资本收益。

LNT 很高兴与 @SynboLabs 合作，@SynboLabs 是世界上第一个由自我托管资金池和双代币经济模型支持的去中心化筹款协议。

通过这种合作关系，我们将探索比特币第 2 层基础设施和闪电网络的可扩展性...... pic.twitter.com/uBXDICk6je

— LNT (@lnt_btc) 2026 年 1 月 22 日

Synbo利用LNT的第2层解决方案提高Web3网络效率

通过利用 LNT 先进的第 2 层解决方案专业知识，Synbo 旨在实现可扩展且经济高效的代币传输，从而增强用户体验并促进用户对其平台的采用。

LNT 是一个去中心化平台，运行称为闪电网络的比特币第 2 层基础设施。这对于日常用户来说很重要。这意味着 LNT 的基础设施可确保跨境汇款、转账、发送或接收代币等时更快的支付、更少的网络故障以及更无缝的用户体验。

上述合作伙伴关系使得 LNT 的比特币 Layer-2 基础设施和 ZK-rollup 技术能够集成到 Synbo 协议中。此部署旨在提高 Synbo 的网络交易性能并最大限度地减少链上交易中的碎片。

推进 Web3 格局并赋予用户权力

Synbo 和 LNT 之间的合作表明，这两个平台旨在为 Web3 用户提供支持，扩大 Web3 应用程序的可访问性，并提高其去中心化网络覆盖范围和运营效率。通过将 LNT 的比特币 Layer-2 基础设施和闪电网络速度与 Synbo 的 Web3 增长方法相结合来创造数字价值和产生收益，这两个去中心化平台正在引入开发持久链上价值的新标准。

此次合作表明了两个平台致力于提高链上流动性的利用效率并加强对整个 DeFi 资本的保护。 By joining forces, Synbo and LNT enable scalable payments, efficient on-chain economies, better yield opportunities, and effectively connect Bitcoin’s core infrastructure within the broader landscape of Web3.
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Synbo 与 LNT 合作，为 Web3 增长平台提供可扩展性和效率 LNT（闪电网络代币）平

Fogo：基于SVM的极速Layer 1公链

Create Content for HTX and Win a Share of 1000U!Sent: Building the Open GRID NetworkClaim1,200 USDT in the Monthly Creation ChallengeXRP Slides to $1.52 as Geopolitical Fears Rattle Crypto Markets XRP

XRP Slides to $1.52 as Geopolitical Fears Rattle Crypto Markets
XRP took a sharp hit on Feb. 2, dropping to $1.52—its lowest price since December 2024—as tensions in the Middle East sparked a broader sell-off across the crypto market. The token has since bounced modestly, trading around $1.60 in early U.S. hours, but the damage for the week is hard to ignore.
Over the past 24 hours, XRP is down roughly 3%, yet zooming out tells a harsher story: it’s fallen about 14.5% over the week, dragging its market cap below $97 billion. That slump puts XRP right in line with other major altcoins, many of which are nursing losses in the 10%–20% range. At the height of the sell-off, the total altcoin market briefly slipped under the $1 trillion mark, according to CoinGecko.
While Monday’s drop wasn’t unique to XRP—it largely reflected weakness across the entire crypto market—the token has been struggling for weeks. January’s steady decline has taken a toll on sentiment and chipped away at what once looked like a strong technical setup.
That’s a sharp contrast to how the year began. XRP kicked off January with a burst of momentum, rallying from $2 to $2.40 in just four days. That rapid move had traders buzzing and fueled hopes of a run back toward its all-time high of $3.65, set in July 2025.

XRP Slides to $1.52 as Geopolitical Fears Rattle C

The majority of the chains consider staking to be a manual task. Dusk flips that. Hyperstaking allows smart contracts to stake, rebalance and reward automatically. It forms basic deposit and earn pool

Solana Rebounds as Tariff Discussions Flood Crypto Social Media The Solana price shows a V-top reversal from the $146 region, signaling the continuation of short-term consolidation trend. Cryptocurren

Solana Rebounds as Tariff Discussions Flood Crypto

The new documentary reveals the entire journey of FTX, from its beginnings to its sudden collapse, with exclusive insider details about Sam-Bankman Fried’s business.The story of the ex-CEO of the FTX exchange, Sam Bankman-Fried, has interested many writers and producers. Plans to release films based on the history of FTX have already been announced by Amazon, the Russo brothers, and others.Now it’s the turn of the Bloomberg news portal, which released a documentary about the ex-CEO of FTX. It describes in detail the history of its foundation and collapse.The video, according to Bloomberg, highlights the “dramatic collapse” of Sam-Bankman Fried’s business. During the filming, the authors used not only already known facts about FTX but also insider information.The film was directed by Shern Sharma and produced by Maria Gabriela Pezzo. Editor Pat Regnier contributed to the video.“RUIN is a feature documentary about Sam Bankman-Fried and the stunning collapse of his cryptocurrency exchange, FTX, as narrated by Bloomberg journalists and some of the central players in the rise of digital assets.”BloombergGolden boyThe future billionaire spent his childhood on the campus of the prestigious Stanford University, which is included in the list of the best universities in the USA and the world. His parents, Joseph Bankman and his wife, Barbara Fried, were scholars and professors at the university’s law school. The boy’s other relatives were also associated with science and belonged to the upper middle class.Bankman-Fried’s environment certainly had a strong influence on him. Since childhood, he was interested in mathematics, puzzles, and other intellectual activities, which ultimately played into his hands.Since childhood, Sam demonstrated an aptitude for mathematics and studied at a school with a corresponding bias while simultaneously attending summer programs for gifted children. Bankman-Fried received his higher education at the Massachusetts Institute of Technology, where he chose physics and mathematics.The beginning of the wayAfter university, Sam Bankman-Fried joined the financial company Jane Street Capital, where he traded futures, ETFs, and shares. There, he met Caroline Ellison, who would later become the head of the investment firm Alameda Research and Bankman-Frida’s girlfriend. Bankman-Fried learned about Bitcoin (BTC) through Gary Wang, an MIT fraternity buddy.In September 2017, SBF incorporated Alameda Research, which had been conducting various operations under the name Delaware LLC for a month. Gary Wang was working on a prototype for the company’s future automated trading system. Alison and Nishad Singh became other key players. The company worked very simply at the initial stage: it bought cryptocurrencies in the USA and sold them in Japan. A key factor in growth was close work in the Hong Kong market, where Bankman-Fried found investors.As a result, starting as a profitable arbitrage trading firm, Alameda has grown into one of the world’s largest producers of digital tokens.FTX launchEighteen months after founding Alameda Research, Bankman-Fried and his team launched the FTX cryptocurrency exchange. Alameda investors were confused by this move, and many refused to finance the new project.One investor recalls that it seemed strange to him that one Bankman-Fried firm was engaged in trading and another provided such an opportunity. All this could lead to market manipulation. However, Bankman-Fried himself assured that the two companies have different servers and addresses, and it is simply impossible to obtain data from each other.Moreover, the rapid launch of FTX raised eyebrows among crypto market participants. Kraken crypto exchange founder Jesse Powell says the launch speed was too fast for a team of its size.You might also like:Lawyers question SBF can prepare for trial, prosecutors disagreeBillionaire with three T-shirts and Toyota CorollaJournalists claim that Bankman-Fried tried his best to come across as altruistic while having a fortune worth billions of dollars.Experts say Bankman-Fried espoused a philosophy of effective altruism. This philosophy envisions a field of study and a community of practice whose goal is to find the best ways to help others and put them into practice.Bankman-Fried became the Mark Zuckerberg of cryptocurrency, who had a fairly simple wardrobe, wore ordinary and inconspicuous clothes, slept on a bean bag chair, and drove a Toyota Corolla. He created the impression that he was not interested in money by adhering to a “monk-like lifestyle.”This week, SBF's of FTX penthouse "The Orchid" in Bahamas was listed on the market for sale at $39,500,000, per the Guardian.The listing has since been taken down. pic.twitter.com/PzBgPXGixY— unusual_whales (@unusual_whales) November 20, 2022However, his modest image did not stop Bankman-Fried from spending millions of dollars on luxury apartments in the Bahamas, which were valued at tens of millions of dollars, and flying on private jets.FTX moving to Bahamas and building trustFTX moved its office to the Bahamas in 2021. The key reason is that the island state allowed crypto companies to do much more than in Hong Kong or the United States. Thus, FTX management has no brakes on its actions.Along with this, the popularity of FTX also grew. The company’s main strategy is to attract as many people and attention as possible. Sports, political investments, concerts, festivals, etc., were a big part of it.Bankman-Fried’s openness and trust built community trust. Being a billionaire, he did not have a PR manager. He communicated directly with journalists and loved this activity. Unlike other influential people, he always answered questions openly and interestingly, which won him the love of the media and audience.You might also like:US prosecutors outline jury instructions for SBF’s trialFTX crash beginsThe beginning of the end for FTX began with FTT, a naive crypto exchange token. The sharp drop in the price of the token occurred after Binance founder Changpeng Zhao tweeted about Binance’s plans to sell its FTT. The head of the No. 1 crypto exchange said that this move is a reaction to some “recent revelations.”He was likely referring to a report by CoinDesk, which accessed Alameda’s balance sheet and discovered several interesting facts:FTT made up the majority of Alameda’s assetsAlameda had $6.1 billion in FTT on its balance sheet. This is at least $1 billion more than the circulating supply of tokens.Alameda’s other significant assets included SOL tokens – $863 million locked and $292 million unlocked.This meant that the ties between Alameda and FTX were much stronger than SBF claimed. And also that Alameda had user-owned FTT on its balance sheet.However, Bankman-Fried stated that FTX does not use client funds. By that time, the price of the FTT token had lost 83%, and SBF’s net asset value had fallen to $991 million. The collapse of FTX was already inevitable.1) Hey all: I have a few announcements to make.Things have come full circle, and https://t.co/DWPOotRHcX’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for https://t.co/DWPOotRHcX (pending DD etc.).— SBF (@SBF_FTX) November 8, 2022The fall in the price of FTT caused liquidity problems for Alameda and FTX. The panic also affected other digital assets, including BTC and ETH. On November 11, 2022, FTX, Alameda Research, and 130 other affiliated firms filed for Chapter 11 bankruptcy.1) Hi all:Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US.— SBF (@SBF_FTX) November 11, 2022Now what?On October 3, 2023, the jury trial of Sam Bankman-Fried began in New York. The former head of the FTX cryptocurrency exchange is charged with fraud and deception of investors. Based on the totality of the U.S. Department of Justice charges alone, he faces up to 115 years in prison.The trial is expected to take about six weeks. Its participants will have to view more than 4 million pages of documents and other records, including emails, Slack conversations, and computer code.

The new documentary reveals the entire journey of FTX, from its beginnings to its sudden collapse, with exclusive insider details about Sam-Bankman Fried’s business.

The story of the ex-CEO of the FTX exchange, Sam Bankman-Fried, has interested many writers and producers. Plans to release films based on the history of FTX have already been announced by Amazon, the Russo brothers, and others.

Now it’s the turn of the Bloomberg news portal, which released a documentary about the ex-CEO of FTX. It describes in detail the history of its foundation and collapse.

The video, according to Bloomberg, highlights the “dramatic collapse” of Sam-Bankman Fried’s business. During the filming, the authors used not only already known facts about FTX but also insider information.

The film was directed by Shern Sharma and produced by Maria Gabriela Pezzo. Editor Pat Regnier contributed to the video.

“RUIN is a feature documentary about Sam Bankman-Fried and the stunning collapse of his cryptocurrency exchange, FTX, as narrated by Bloomberg journalists and some of the central players in the rise of digital assets.”

The future billionaire spent his childhood on the campus of the prestigious Stanford University, which is included in the list of the best universities in the USA and the world. His parents, Joseph Bankman and his wife, Barbara Fried, were scholars and professors at the university’s law school. The boy’s other relatives were also associated with science and belonged to the upper middle class.

Bankman-Fried’s environment certainly had a strong influence on him. Since childhood, he was interested in mathematics, puzzles, and other intellectual activities, which ultimately played into his hands.

Since childhood, Sam demonstrated an aptitude for mathematics and studied at a school with a corresponding bias while simultaneously attending summer programs for gifted children. Bankman-Fried received his higher education at the Massachusetts Institute of Technology, where he chose physics and mathematics.

After university, Sam Bankman-Fried joined the financial company Jane Street Capital, where he traded futures, ETFs, and shares. There, he met Caroline Ellison, who would later become the head of the investment firm Alameda Research and Bankman-Frida’s girlfriend. Bankman-Fried learned about Bitcoin (BTC) through Gary Wang, an MIT fraternity buddy.

In September 2017, SBF incorporated Alameda Research, which had been conducting various operations under the name Delaware LLC for a month. Gary Wang was working on a prototype for the company’s future automated trading system. Alison and Nishad Singh became other key players.

The company worked very simply at the initial stage: it bought cryptocurrencies in the USA and sold them in Japan. A key factor in growth was close work in the Hong Kong market, where Bankman-Fried found investors.

As a result, starting as a profitable arbitrage trading firm, Alameda has grown into one of the world’s largest producers of digital tokens.

Eighteen months after founding Alameda Research, Bankman-Fried and his team launched the FTX cryptocurrency exchange. Alameda investors were confused by this move, and many refused to finance the new project.

One investor recalls that it seemed strange to him that one Bankman-Fried firm was engaged in trading and another provided such an opportunity. All this could lead to market manipulation. However, Bankman-Fried himself assured that the two companies have different servers and addresses, and it is simply impossible to obtain data from each other.

Moreover, the rapid launch of FTX raised eyebrows among crypto market participants. Kraken crypto exchange founder Jesse Powell says the launch speed was too fast for a team of its size.

Lawyers question SBF can prepare for trial, prosecutors disagree

Billionaire with three T-shirts and Toyota Corolla

Journalists claim that Bankman-Fried tried his best to come across as altruistic while having a fortune worth billions of dollars.

Experts say Bankman-Fried espoused a philosophy of effective altruism. This philosophy envisions a field of study and a community of practice whose goal is to find the best ways to help others and put them into practice.

Bankman-Fried became the Mark Zuckerberg of cryptocurrency, who had a fairly simple wardrobe, wore ordinary and inconspicuous clothes, slept on a bean bag chair, and drove a Toyota Corolla. He created the impression that he was not interested in money by adhering to a “monk-like lifestyle.”

This week, SBF's of FTX penthouse "The Orchid" in Bahamas was listed on the market for sale at $39,500,000, per the Guardian.

The listing has since been taken down. pic.twitter.com/PzBgPXGixY

— unusual_whales (@unusual_whales) November 20, 2022

However, his modest image did not stop Bankman-Fried from spending millions of dollars on luxury apartments in the Bahamas, which were valued at tens of millions of dollars, and flying on private jets.

FTX moved its office to the Bahamas in 2021. The key reason is that the island state allowed crypto companies to do much more than in Hong Kong or the United States. Thus, FTX management has no brakes on its actions.

Along with this, the popularity of FTX also grew. The company’s main strategy is to attract as many people and attention as possible. Sports, political investments, concerts, festivals, etc., were a big part of it.

Bankman-Fried’s openness and trust built community trust. Being a billionaire, he did not have a PR manager. He communicated directly with journalists and loved this activity. Unlike other influential people, he always answered questions openly and interestingly, which won him the love of the media and audience.

US prosecutors outline jury instructions for SBF’s trial

The beginning of the end for FTX began with FTT, a naive crypto exchange token. The sharp drop in the price of the token occurred after Binance founder Changpeng Zhao tweeted about Binance’s plans to sell its FTT. The head of the No. 1 crypto exchange said that this move is a reaction to some “recent revelations.”

He was likely referring to a report by CoinDesk, which accessed Alameda’s balance sheet and discovered several interesting facts:

FTT made up the majority of Alameda’s assets

Alameda had $6.1 billion in FTT on its balance sheet. This is at least $1 billion more than the circulating supply of tokens.

Alameda’s other significant assets included SOL tokens – $863 million locked and $292 million unlocked.

This meant that the ties between Alameda and FTX were much stronger than SBF claimed. And also that Alameda had user-owned FTT on its balance sheet.

However, Bankman-Fried stated that FTX does not use client funds. By that time, the price of the FTT token had lost 83%, and SBF’s net asset value had fallen to $991 million. The collapse of FTX was already inevitable.

1) Hey all: I have a few announcements to make.

Things have come full circle, and https://t.co/DWPOotRHcX’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for https://t.co/DWPOotRHcX (pending DD etc.).

The fall in the price of FTT caused liquidity problems for Alameda and FTX. The panic also affected other digital assets, including BTC and ETH. On November 11, 2022, FTX, Alameda Research, and 130 other affiliated firms filed for Chapter 11 bankruptcy.

Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US.

On October 3, 2023, the jury trial of Sam Bankman-Fried began in New York. The former head of the FTX cryptocurrency exchange is charged with fraud and deception of investors. Based on the totality of the U.S. Department of Justice charges alone, he faces up to 115 years in prison.

The trial is expected to take about six weeks. Its participants will have to view more than 4 million pages of documents and other records, including emails, Slack conversations, and computer code. 

The new documentary reveals the entire journey of FTX, from its beginnings to its sudden collapse, with exclusive insider details about Sam-Bankman Fried’s business.The story of the ex-CEO of the FTX exchange, Sam Bankman-Fried, has interested many writers and producers. Plans to release films based on the history of FTX have already been announced by Amazon, the Russo brothers, and others.Now it’s the turn of the Bloomberg news portal, which released a documentary about the ex-CEO of FTX. It describes in detail the history of its foundation and collapse.The video, according to Bloomberg, highlights the “dramatic collapse” of Sam-Bankman Fried’s business. During the filming, the authors used not only already known facts about FTX but also insider information.The film was directed by Shern Sharma and produced by Maria Gabriela Pezzo. Editor Pat Regnier contributed to the video.“RUIN is a feature documentary about Sam Bankman-Fried and the stunning collapse of his cryptocurrency exchange, FTX, as narrated by Bloomberg journalists and some of the central players in the rise of digital assets.”BloombergGolden boyThe future billionaire spent his childhood on the campus of the prestigious Stanford University, which is included in the list of the best universities in the USA and the world. His parents, Joseph Bankman and his wife, Barbara Fried, were scholars and professors at the university’s law school. The boy’s other relatives were also associated with science and belonged to the upper middle class.Bankman-Fried’s environment certainly had a strong influence on him. Since childhood, he was interested in mathematics, puzzles, and other intellectual activities, which ultimately played into his hands.Since childhood, Sam demonstrated an aptitude for mathematics and studied at a school with a corresponding bias while simultaneously attending summer programs for gifted children. Bankman-Fried received his higher education at the Massachusetts Institute of Technology, where he chose physics and mathematics.The beginning of the wayAfter university, Sam Bankman-Fried joined the financial company Jane Street Capital, where he traded futures, ETFs, and shares. There, he met Caroline Ellison, who would later become the head of the investment firm Alameda Research and Bankman-Frida’s girlfriend. Bankman-Fried learned about Bitcoin (BTC) through Gary Wang, an MIT fraternity buddy.In September 2017, SBF incorporated Alameda Research, which had been conducting various operations under the name Delaware LLC for a month. Gary Wang was working on a prototype for the company’s future automated trading system. Alison and Nishad Singh became other key players.The company worked very simply at the initial stage: it bought cryptocurrencies in the USA and sold them in Japan. A key factor in growth was close work in the Hong Kong market, where Bankman-Fried found investors.As a result, starting as a profitable arbitrage trading firm, Alameda has grown into one of the world’s largest producers of digital tokens.FTX launchEighteen months after founding Alameda Research, Bankman-Fried and his team launched the FTX cryptocurrency exchange. Alameda investors were confused by this move, and many refused to finance the new project.One investor recalls that it seemed strange to him that one Bankman-Fried firm was engaged in trading and another provided such an opportunity. All this could lead to market manipulation. However, Bankman-Fried himself assured that the two companies have different servers and addresses, and it is simply impossible to obtain data from each other.Moreover, the rapid launch of FTX raised eyebrows among crypto market participants. Kraken crypto exchange founder Jesse Powell says the launch speed was too fast for a team of its size.You might also like:Lawyers question SBF can prepare for trial, prosecutors disagreeBillionaire with three T-shirts and Toyota CorollaJournalists claim that Bankman-Fried tried his best to come across as altruistic while having a fortune worth billions of dollars.Experts say Bankman-Fried espoused a philosophy of effective altruism. This philosophy envisions a field of study and a community of practice whose goal is to find the best ways to help others and put them into practice.Bankman-Fried became the Mark Zuckerberg of cryptocurrency, who had a fairly simple wardrobe, wore ordinary and inconspicuous clothes, slept on a bean bag chair, and drove a Toyota Corolla. He created the impression that he was not interested in money by adhering to a “monk-like lifestyle.”This week, SBF's of FTX penthouse "The Orchid" in Bahamas was listed on the market for sale at $39,500,000, per the Guardian.The listing has since been taken down. pic.twitter.com/PzBgPXGixY— unusual_whales (@unusual_whales) November 20, 2022However, his modest image did not stop Bankman-Fried from spending millions of dollars on luxury apartments in the Bahamas, which were valued at tens of millions of dollars, and flying on private jets.FTX moving to Bahamas and building trustFTX moved its office to the Bahamas in 2021. The key reason is that the island state allowed crypto companies to do much more than in Hong Kong or the United States. Thus, FTX management has no brakes on its actions.Along with this, the popularity of FTX also grew. The company’s main strategy is to attract as many people and attention as possible. Sports, political investments, concerts, festivals, etc., were a big part of it.Bankman-Fried’s openness and trust built community trust. Being a billionaire, he did not have a PR manager. He communicated directly with journalists and loved this activity. Unlike other influential people, he always answered questions openly and interestingly, which won him the love of the media and audience.You might also like:US prosecutors outline jury instructions for SBF’s trialFTX crash beginsThe beginning of the end for FTX began with FTT, a naive crypto exchange token. The sharp drop in the price of the token occurred after Binance founder Changpeng Zhao tweeted about Binance’s plans to sell its FTT. The head of the No. 1 crypto exchange said that this move is a reaction to some “recent revelations.”He was likely referring to a report by CoinDesk, which accessed Alameda’s balance sheet and discovered several interesting facts:FTT made up the majority of Alameda’s assetsAlameda had $6.1 billion in FTT on its balance sheet. This is at least $1 billion more than the circulating supply of tokens.Alameda’s other significant assets included SOL tokens – $863 million locked and $292 million unlocked.This meant that the ties between Alameda and FTX were much stronger than SBF claimed. And also that Alameda had user-owned FTT on its balance sheet.However, Bankman-Fried stated that FTX does not use client funds. By that time, the price of the FTT token had lost 83%, and SBF’s net asset value had fallen to $991 million. The collapse of FTX was already inevitable.1) Hey all: I have a few announcements to make.Things have come full circle, and https://t.co/DWPOotRHcX’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for https://t.co/DWPOotRHcX (pending DD etc.).— SBF (@SBF_FTX) November 8, 2022The fall in the price of FTT caused liquidity problems for Alameda and FTX. The panic also affected other digital assets, including BTC and ETH. On November 11, 2022, FTX, Alameda Research, and 130 other affiliated firms filed for Chapter 11 bankruptcy.1) Hi all:Today, I filed FTX, FTX US, and Alameda for voluntary Chapter 11 proceedings in the US.— SBF (@SBF_FTX) November 11, 2022Now what?On October 3, 2023, the jury trial of Sam Bankman-Fried began in New York. The former head of the FTX cryptocurrency exchange is charged with fraud and deception of investors. Based on the totality of the U.S. Department of Justice charges alone, he faces up to 115 years in prison.The trial is expected to take about six weeks. Its participants will have to view more than 4 million pages of documents and other records, including emails, Slack conversations, and computer code.

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What we’ve learned about Sam Bankman-Fried from Bloomberg documentary

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What we’ve learned about Sam Bankman-Fried from Bloomberg documentary

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