TIL That Sam Bankman-Fried is a Top Level Predator in the Cefi Liquidations Scheme

You might have thought that these crazy cefi yield/lending schemes blowing up left and right are just risky/mismanaged business models, or at worst, independent frauds. But TIL that they appear to be (legalized?) layered schemes in which SBF is an apex predator.

https://www.youtube.com/watch?v=BMGr4yyE1uc

A collaboration of SBF, FTX, Alameda, (others?): Are masquerading as an independent broker/MM/LP; who receive crypto and USD from intermediate fraudulent shell corporations; then … – mark it as collateral/margin on behalf of these fraudulent corporations
– transparently see the irresponsible leverage these entities are taking;
– in fact provide that leverage to them;
– have full knoweldge that these are circularly backed shell assets;
– valued almost entirely based on the leverage that SBF himself is providing;
– And assumes beneficial ownership after the inevitable margin call / liquidation.

SBF and FTX then use those exact same assets to provide "emergency capital" to … – a gain a beneficial position in a restructured version of the collapsed shell;
– lock the the victims out of any ability to receive back their underlying assets;
– convert the victims' claim into some derivate product of the shell company;
– where they will promise to "create value" on an "improved and sound business model" …

… Which is really just corporate euphamism for: "Just wait a few years until we can jumpstart a new cycle of leveraged fraud with a combination of central bank money printing and unbacked stablecoins"

Cherry on top: He admits that FTX could backstop the market by just buying it all with the assets acquired in their layered fraud … but that they won't because … they haven't liquidated enough victims assets yet a responsible price has not been achieved per their economic models.

Sorry to all of you that lost money to these scumbags. Hope you can get some of it back.

Edit: Did I mention he's part of the WEF