Follow me on Twitter: @moonlamboio
SIGN UP FOR A FREE 7 DAY TRIALGET YOUR .CRYPTO DOMAIN AT UNSTOPPABLE DOMAINS
TRADE CRYPTO ON BINANCE HERE "LOW FEES"
DISCLAIMER: I am not a financial adviser. None of what I have communicated verbally or in writing here should be considered financial advice; it is not. Do your own research before investing in any digital asset, and understand that investing in any cryptocurrency is inherently risky. If you do, you need to be prepared to lose your entire investment.
Hello this is Matt on the moon Lambo Channel we got to talk about this SPF Trial because I'm telling you it is way More bizarre and ridiculous and Offensive than I ever would have guessed And mind you we already knew what's Obviously the worst part is that it's a Damn Ponzi scheme but what I mean is the Specifics behind like the actual Behavior what was going on behind the Scenes is stuff that I mean I don't know How many of you would have the stuff on Your bingo C but I had about zero of it On mine I'll just tell you that right Here And uh there is a um a founder of one of The most well-known cryptocurrency Exchanges on the entire planet who said That uh you know with each passing day Of this trial I'll show you exactly what He said it just makes him you know feel More and more anger and attorney Deon Had something to say on that too he Actually uh expanded upon it and you Know it is interesting we maybe haven't Talked about this too much as as just a Broader crypto Community but and not that it it's never Come up but what role did the Venture Capitalists have to play in all this What about due Diligence don't tell me that there was Proper due diligence May fine if you if You're going to tell me there was due
Diligence I'll buy that what the hell Did it look like though what was that Due diligence because I don't see how Things got to the point where so much Money flowed into FTX and it ended up having so many Customers in such short order that they Could pull off something that they could So quickly pull off a Ponzi scheme of This magnitude it's just Astonishing so in fact before I even get Out of the intro Let me just share with You some of these headlines because You're going to want to know this is What we're going to be talking about uh Here's the first one from Coindesk Chinese bribes tie prostitutes And an end to the lies Caroline Ellison's explosive second day of Testimony against Sam bankman freed uh Here's another headline from Watcher Guru FTX Ellison to-do list sought Regulators to crack down on binance That's right folks because you you know That they donated tens of millions of of Customers funds to to uh well mostly to The Democrats the strong majority went To the Democrats and they were getting Pull from that and they were trying to Use that pull to take down the world's Largest cryptocurrency exchange on the Planet by volume binance that's a real Thing that is asserted here here's a Headline from decrypt I didn't have to
Lie anymore FTX collapse was a relief Says Caroline Ellison uh here's another One that's just absolutely shocking and Ridiculous and arrogant all at once from Coin gape Ellison reveals spf's alleged Plot to limit Bitcoin at $20,000 that's right folks scam bankman Fraud was trying to suppress the price Of Bitcoin then there's this from the daily Hle Caroline Ellison says Alam paid Massive bribe to Chinese officials to Unfreeze $1 Billion report I wasn't saying it I Wasn't just saying it for the sake of Saying it that there's some crazy Nonsense in here it's like this is what We're talking about this is absolutely Absurd how was this real Life before going further though I do Want to be clear I do not have a Financial background of any kind I am Not offering Financial advice and you Definitely should not bu yourself Anything because of anything I say or Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hob And just for fun all right so there's a Thread here this was actually posted November of last year by an account Called Cryptox and um they uh they linked to an Article which has now been removed uh
But it's an article from Sequoia Capital and um we got the screen grabs And I'm not going to read the whole Thing it's not necessary for the sake of Time but I I am going to read you a Snippet which is vomit inducing you've Been warned the snippet I'm about to Read to you once the words from my Little Moon Lambo mouth into into your Ears in this particular order it is Going to cause in some of you a good Amount of up chuckery and I just want You to be warmed because maybe you're Sitting on a nice new couch you got Maybe you're driving down the highway And you you know you could ruin your Nice upholstery in your automobile I Don't want that to happen any of you so I'm just giving you a fair warning here That this is vomit inducing so this is From a puff piece written by somebody Over at Sequoia and I it's hard to Believe this is real life Uh but I'm going to share this with you Because this is what um the the founder Of cryptocurrency exchange Kraken ended Up responding like he shared this piece And uh and then attorney Deon responded Also but here's the article which has Since been removed from soria's Website after my interview with SBF I Was convinced I was talking to a future Trillionaire whatever Mojo he worked on The partners at SEO
Who fell for him after one Zoom had Worked on me worked on me too for me it Was simply a gut feeling I've been Talking to Founders and doing deep dives Into technology companies for decades It's been my entire professional life as A writer and because of that experience There must be a pattern matching Algorithm turning away somewhere in my Subconscious I don't know how I know I Just do S SPF is a Winner let's pause here so making me Feel a little bit quizy queasy but we Didn't get to the worst part I just got To I'm going take a little sip of water Just prepare yourselves Folks all right all right here it goes Here it Goes but that wasn't even the main thing There was something else I felt Something in my heart not just my Gun am I reading a love letter what is Is going on did like did these guys make Out I don't know what's going on here he Says there was something else I felt Something in my heart not just my gut After sitting 10 feet from him for most Of the week studying him in the human Musk of the startup grind that who Writes that the studying him in the Human musk of the startup grind what the Hell your problem Is study him in the human musk of
The startup grind and chatting in Between bean bag naps I couldn't shake The feeling that this guy is actually as Selfless as he claims to Be he's so selfless with every of all His customers money he's so selfless With it here take it Democrats okay my God so anyway Jesse Powell founder of Cryptocurrency exchange Kraken which by The way Uh you know ended up having to settle With the SEC paid a massive fine tens of Millions of dollars uh he's been Watching this stuff here's what Jesse PA Had to say about this we reposted what The vomit inducing thing I just shared With you Jesse PA reposted He said Each Day of the SP SPF trial fills me with More and more anger toward the Incompetent VCS who enabled this obvious Fraud which would have been uncovered by The slightest due diligence we even Warned them one thing makes me feel Better though nobody is down as bad as This guy he's got a little Skull emoji So yes the VC's The Venture capitalists Here how were they not able to sniff This one out how could they not figure This Out you would think that very minimal Due diligence would result in this all This you know this this house of car Just crumbling on Down Attorney John Deon reposted that
From Kraken found Jesse PA and attorney Deon wrote The Following on social media Platform X imagine trying your best to do Everything the right way and instead of Receiving guidance and clear rules you Get told that you will be sued by the SEC unless you pay $30 Million imagine experienced lawyers Advise you that it is cheaper to pay the $30 million than it is to fight the Bogus Charges imagine you've watched another Company fight the SEC and pay an excess Of $100 Million you're also told that if you Fight the SEC it could lead to more Layoffs of employees you feel Responsible for then imagine you learn That the biggest fraudster of all was Having private meetings with the Chairman of the SEC during a Time the SEC refused to talk to companies such as Yours imagine during the trial of that Particular fraudster you hear evidence That he donated $10 million to the Current Administration for the purpose Of gaining access to the same Regulators Who threaten to sue your company mad Doesn't cover it and folks that is Indeed what happened it's pay to playay Nonsense and then attorney Deon in a Separate post wrote I'm not VC I know it's not my
Wheelhouse if you're doing a background Check wouldn't that include board Members but then you would have found Out that there wasn't a board of Directors at all if you're investing in A company completely run by youngsters Wouldn't you ask who's on the board Hoping to see someone with a little gray Hair and so that that is an excellent Point for attorney Deon there no board Of directors what in the everloving hell And sooy is just like oh you all good You cool son are you for Real what and then they all sit here Claiming they went through proper due Diligence trying to save face they were Sloppy and they felt for whatever this Scam bankman fraud pitch was so they Should feel some sort of you know Remorse and I don't know embarrassment Over That but no they just a lot of are just Saying no well we did the due diligence Did you what was your due diligence did You ask him if he's after he set his Pitch did you did you just ask is that All true and he's like yes oh okay That's good that's the due diligence is That what Happened my God And then we have this there's a guy Named David on on social media platform XX who wrote huge day in court one Highlight and check this out folks
Caroline testified that when she first Started work at Alam both she and Sam Had luxury cars paid for by Alam Sam later had them swapped for a Toyota Corolla and a Honda Civic Explicitly to create an image of modest Living now folks that I'll tell you this I was aware that he had a regular car And nothing against the Toyota or the Honda there tons of you listening drive Those those makes cool some you drive Those exact cars that's fine here but Knowing that he was allegedly you know a Multi-billionaire that's that was being Reported and then seeing that and just Just understanding that he's flying on The private jet he's doing all that jazz You can look at you know the the Headquarters for the so see being of all Of this and then you find out he's Driving either a Corolla or a Civic does that seem genuine to you so I I'll just tell you this I I always from The moment I found out that that was the Case I always had a very strong and Well-placed suspicion that was there for Show and I was grossed out by it so when I saw him preaching all this you know uh Altruism and all this crap that he was Spouting I wasn't actually buying this Who the hell talks like that But but he was tricking people that Passed the smell test for some people Attorney John Deon reposted that and
Said the true SPF has always been a 100% Fraud I can't wait for the day that he And his parents hear the judge issue his Multi- deade long prison Sentence you and me both attorney Deon And it's coming it's coming sooner than Later that's into this piece from Coindesk here uh there are just some Select portions I want to highlight I do Want to get the most interesting stuff Covered here and I'm going to try and Keep the over I got a bunch of Articles Open I'm going to try and keep the Overlap uh to a minimum or maybe if I Can pull this off I won't have any Overlap but some articles talk about Exactly the same thing I'm trying to Avoid that so anyway I'm doing my best Here um so here's the coin desk piece Reads as follows Caroline Ellison wept On the witness stand near the end of her Second day testifying against her former Boss and ex-boyfriend Fallen Cryptocurrency Mogul Sam bankman Mined the the diminutive and softspoken Former CEO of alam research describ the Unraveling last November of her hedge Fund and its sister company the FDX Exchange and the relief she felt as Revelations about their fraud became Public I felt a sense of relief that I Didn't have to lie anymore Ellison Testified her voice trembled and cracked As she recalled one particular text
Message exchange between her and bankman Free ing what she described as the Overall worst week of my life and that's A quote I felt indescribably bad about All the people that lost their jobs and The people that trusted us that we had Betrayed Ellison told the packed Courtroom as she reached for a Tissue bankman freed the defendant did Not look up as she wept but kept typing On his cour issued laptop now folks I Will say this I have a very strong Suspicion let me see if I can just sniff This one out you guys tell me if you Think I'm getting a little too crazy Here but I'm thinking that scam bman Fraud that little punk ass I think That cucumber Ling son of a is a Sociopath I just I don't think he feels The slightest ounce of remorse for Anything he's done in destroying People's lives I don't think he cares Not even one little Iota not a tiny Little bit of him I don't think he cares He is a liar he will present whatever he Has to to the public to anybody speaking To him if thinks it's going to benefit Him there is something wrong with Him peace continues during her testimony Ellison discussed the document that Caused bankman Freed's companies to Collapse the balance sheet coindesk's Ian Allison reported on exclusively on November 2nd
2022 she said that balance sheet was a Version of the one Alam sent to its Lenders designed to mislead them into Thinking Alam was healthier financially Than it really was of wendes day she Called it a dishonest document but even The fudge numbers were ugly enough Brimming with ftxs ft token and other Tokens closely related to bankman Freed To raise questions about how viable Alam And FTX were it understated the true Extent of alam's risk but it still Showed that Alam was in a fairly risky Position Allison said of the BAL of the Balance Sheet um and then there's also this Bankman free told Caroline Ellison to Continue repaying alamer researches Lenders with FTX customers money which She did despite misgivings she testified Wednesday in May 2022 the Luna crypto Tokens decline led to a broader crypto Meltdown which caused several of alam Creditors to call back loans that they' Made to the bankman freed founded Trading fund Ellison testified I was in A constant state of dread she said I Knew we would have to take the money From our FTX line of credit and that was Money that could be called in at any Time and so folks she's saying what we Already know and obviously if you're Wondering how is there a small chance That maybe we just misunderstand as some
Some actually have asserted that and uh Sam bman freed he didn't intentionally Do anything bad right no if he hadn't Intentionally done anything bad and Wrong then the the money that customers Sought to withdraw would have been there 100% of it would have been there you're Not going to you're not going to Convince Anybody who is competent into believing Anybody that's being intellectually Honest that this isow with oops dooodle All the billions yeah with billions of Dollar oopsa Doodles I guess we weren't It came out of the wrong account oh okay Who's falling for That peace continues asked why that Money was particularly risky Allison Said it was coming from FTX customers Who who could try to withdraw it at any Time Ellison said she Drew increasingly Worried throughout the spring of 2022 That alam's Reliance on FTX customer Funds could lead to catastrophe for both Firms I was concerned that if everyone Would find out then everything would Come crashing down Ellison said in spite Of her concerns Ellison testified that She continued to pay back lenders via Ala's FTX line of credit which meant Using FTX customer funds because Sam Told me to that was a quote I thought it Was wrong she told prosecutors oh you Thought so H how about that now she
Should be in jail for a long time too Now I know she ended up taking a plea Deal here she's ratting out scam bankman Fraud uh okay is what it is she should Be in jail for a very in prison for a Very very very long time and so I won't Be surprised if she gets the lightest Sentence here out of the the three big Ones anyway you know her andf and then Uh what's the other guys Gary Wang I Think those are the three biggest Anyway Uh you know I get it they're going after SPF I get it they're going for the head Of the snake but it just it it does kind Of burn my biscuits knowing that she's Getting the lighter sentence she will I Mean we'll see what the sentence is we Don't know yet but it does kind of burn My biscuits just knowing that what's Most probable is she's going to get a Much lighter sistence uh sentence rather Than than would be just that's what Bothers me but let's get to the bribing Of the Chinese officials because this It's it sounds made up doesn't it I Cannot wait to see the movies about this So I mean there will be entertainment Value I guess at least Jesus this is Insane reads as follows in the most Salacious bit of testimony Wednesday Ellison said she and a handful of FTX And Alam Executives paid a large bribe To Chinese officials to secure funds
That had been locked on Chinese Exchanges neither FTX nor Alam was Involved in the investigation which Ellison said involved an entity which at One point traded with Alam and was being Probed for money Laundering uh judge Lewis Kaplan who was Overseeing the bankman free trial said The bribery anecdote was relayed to the Jury to illustrate bankman Freed's trust And confidence in Ellison and to speak To motives not because bankman freed was Being charged with crimes in relation to Alleged bribery uh he did not mention That bankman freed is current scheduled To go on trial again next spring on Bribery and other Charges after the FTX Alam team Initially failed to secure the funds Through negotiation with the Chinese Government via lawyers Ellison said they Then tried and again failed to release The funds through a scheme involving the Creation of fakes fake Exchange accounts Using the identities of tied Prostitutes folks I I I not making this This is a real thing in life that has Unfolded What in the ever loving hell I just I Got to tell you I wasn't expecting this Necessarily to be a part of this case I Know there' be some crazy ass nonsense Obviously but my God some of the stuff And there's there's still more after
This we ain't done son peace continues Ellison and Ryan salami I hope that's How he say his name anyway s a l a m e Is it Sal Ryan Sol Ryan salami I don't Know those are both pretty good uh I Don't know man Allison and Ryan salami Uh another EX FTX executive who pleaded Guilty to charges told her the Names finally the funds were secured After Ellison made a payment of $100 Million to a crypto account which to her Understanding was tied in some way to Chinese government officials Ellison Recalled an incident when an employee Protested against the plan in a meeting Bankman freed grew increasingly annoyed With the employee whose father was a Chinese government official and Eventually told her to shut the f up in A private state of alam memo Allison Authored in November 21 shortly after The payment was made she included a Bullet point Titled 15 million from the thing under a Section detailing notable edos syncratic Financial Events the entry she said referenced the Payment to Chinese officials I didn't Want to put it in writing that we paid What I believed were bribes she Testified so that's another thing that Happened yes this is real life I assure You uh here's this from Watcher Guru FTX Ellison to-do list sought Regulators to
Crack down on binance like I said the Outside of the video that's right They're using stolen customer funds to Bribe the government effectively in the United States to convince at least to to Buy favor whatever to Curry favor this What they're trying to do so they could Destroy their competitor binance that Was the thinking here check this out and Made the ongoing trial of Sam bankman Free new testim shows that FTX had Actively sought out Regulators to crack Down on binance specifically during the Proceedings the jury was shown a to-do List that was authored by Alam Alam Research CEO Caroline Allison on that List was the desire to increase Regulatory attention to the crypto Exchange and for for the purposes of Time I'm just going to leave it where it Is we'll see what comes of this if Anything but that is Buck Wild holy H this is a like these people Disgusting and they've destroyed so many Lives just seen what they're doing with Such flagrant disregard no care Whatsoever and then there's this from Coin gape Ellison reveals spf's alleged Plot to limit Bitcoin at 20K yeah you Didn't forget this one did you which I Cited at the outset of the video trying To suppress the price of Bitcoin what did they ever let me know During the trial of Sam bman freed the
Founder of the cryptocurrency exchange FTX the crypto industry was taken aback By startling claims made by Caroline Ellison his ex-girlfriend and the former Head of alme research Ellison's Testimony unveiled a possible plot to Manipulate Bitcoin prices she mentioned A note saying keep selling Bitcoin if It's over $20,000 hinting at a deliberate attempt To keep the cryptocurrency's value below The $20,000 Mark significantly such Alleged interventions could greatly Affect the Dynamics of the digital Currency Market while they were in theory Gigantic exchange so there you go and They also are obviously manipulating Their own token Ft it's Just it is wild Stuff what are are we like what what day Are we on is like day four or five how Much worse does this get God because the Whole the whole thing supposed to take In theory um you know the the trial Portion of all this four to six weeks And then uh my understanding is that the Sentencing would come some amount of Time Later uh so we'll see you know by the Beginning part of November maybe uh Maybe beginning part of November to Mid November roughly speaking is probably
When we're going to get the conclusion It's not going to be good for scam Bankman Fraud oh he done he done son he going to Prison I'll keep you guys posted that's The latest we're going to have more well I mean you know we got a whole another Day of fun trial stuff start up here in A within the next few Hours I just I I am not ready for Whatever it is I know I'm not ready for It I know I'm not ready for It I'm not a financial adviser you Should not buy yourell anything because Of anything I say or right that would be A very very very bad idea until next Time to the Moon Lambo
