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Top asset management team helps you profit without hassle
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🚨 FTX's Python Deception: Code Reveals Insurance Fund Fraud 🚨
More disturbing FTX revelations keep emerging. Co-founder Gary Wang’s court testimony pulled back the curtain on something quite shocking. Python code. Manipulated numbers. A fake insurance fund. 💻🔍
The code wasn’t sophisticated. Just random number generators. These created the illusion of a robust insurance fund. Users felt safe. They weren’t.
Wang spilled everything in court. That “$100 million” insurance fund? Smoke and mirrors. Crypto sleuths later found the actual code snippets. Kind of surprising how blatant it was. The deception seems almost amateur in retrospect. 🕵️♂️
Sam Bankman-Fried got his due. 25 years behind bars in early 2024. Fraud. Conspiracy. The whole package. The CFTC wasn’t gentle either - $12.7 billion in victim relief payments. Brutal but deserved. 💰⚖️
Regulators everywhere scrambled to respond. New rules. Tighter controls. The entire crypto landscape shifted. Yet money keeps flowing in. Crypto investment products recently saw massive inflows. The biggest since July. Market memory is short, it seems. 📈🌕
Even Zimbabwe is getting involved. They’re turning their gold-backed digital tokens into actual payment methods. Not entirely clear if it’ll work, but blockchain enthusiasm persists despite the FTX disaster. Innovation continues. 🌍🚀