Crypto/FTX/SBF, Twitter

Markets. Down 17% was down 25%. Meta job cuts. 11000 13%. Brad Gerstner letter. A summary of some of the layoffs this year…Twitter: cutting 50% of its workforce (estimated 3,700 jobs).Facebook ($META): cutting 13% of its staff (11,000 jobs), its largest round of CryptoSBF is a FRAUD! Bernie Madoff style! FTX lends money to Alameda!! $10b loan on $16b in assets.   FTX meltdown. FTX. Alameda. Binance. Coinbase. Nothing safe. FTX has a prominent list of backers such as Sequoia Capital, BlackRock Inc., Tiger Global Management and SoftBank Group Corp.Sam Bankman-Fried. $8b shortfall! He was worth $26b…apparently.  Tom & Gisele. Hedgefunds. FTX Arena in Miami. Home of Heat. FTX on umpire uniforms. Celeb lawsuits: https://deadline.com/2022/11/tom-brady-giselle-bundchen-ftx-lawsuit-larry-david-steph-curry-crypto-1235174541/In the case of Curry, the NBA legend admitted in another tongue-in-cheek-ish TV spot that he was not that knowledgeable about crypto. He added, looking at the camera: “I don’t need to be. With FTX I have everything I need to buy, sell, and trade crypto safely.”FTX’s new chief executive“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,”  “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”SBF is 2nd largest democratic donor this election cycle. $37 million. SBF parents. raised by two Stanford professors who specialize in law and taxes.Caroline Ellison.    Caroline interview. Related party loans: $300m from last $450m investment to SBF.  Alameda Research had $4.1 billion in related-party loans. Among those were $1 billion to Bankman-Fried, $543 million to FTX Director of Engineering Nishad Singh and $55 million to FTX Digital Markets head Ryan SalamTwitterLays off ½ of 7500 workers. Had to bring some back.  The whole world shit-posting that the site will go down now. Tesla AI runs with 150 engineers. Ligma and Johnson.