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#ftx

3 posts3 participants0 posts today
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⚯ Michel de Cryptadamus ⚯

oh look, another #fintech bankruptcy involving Evolve Bank & Trust.

some other fun places Evolve has popped up:

1. issuer of #FTX and #BlockFi debit cards (before those companies blew up and customers lost all their money)
2. #GeorgeSantos and #AndyOgles held their campaign money at Evolve
3. #Synapse bankruptcy which cost customers of a bunch of fintech "banks" like #Yotta most if not all of their money
4. Partnered with "anti-woke" fintech #GloriFi
5. Got hacked by Russia midway through Synapse bankruptcy proceedings
6. Anonymous crypto debit card issuer for #ZELF
7. Frequently found to be the bank used by #pigbutchering fraudsters
8. Sanctioned by federal reserve for #moneylaundering

The fact that Evolve has not been shut down is insane. Banking system cannot survive if these kinds of bad actors roam free like the wind.

* more on Evolve: fintechbusinessweekly.substack
* even more: fintechbusinessweekly.substack

SCOOP: Another BaaS platform bankruptcy (yes, it involves troubled Evolve Bank & Trust) BaaS platform Solid declares bankruptcy; it had partnered with Evolve Bank & Trust, CBW Bank & Lewis & Clark Bank. What we know: Solid memorably was sued by its own investors, FTV, who accused the company of manipulating revenue numbers during its Series B fundraise. The matter was ultimately settled with Solid buying back FTV's stake at a 56% discount. Solid and Evolve have also been embroiled in lawsuits stemming from Solid's relationship with EZBanc, an entity with links to a convicted Russian money launder. Suits stemming from the EZBanc relationship accuse Solid and Evolve of fraud, negligence, and breach of fiduciary duty, among other allegations. Now, the company is seeking Chapter 11 bankruptcy protection, according to a petition filed in U.S. Bankruptcy Court in Delaware on Monday, April 7th.
#EvolveBank#EvolveBankAndTrust#finreg
Public
⚯ Michel de Cryptadamus ⚯

GOP Majority Whip #TomEmmer, the man who wrote angry letters to the #SEC demanding that they stop bothering an innovative company like #FTX back in 2022, believes that the US government will be buying 1 million bitcoins for a price equivalent to 10-20% of the US defense budget for the “#StrategicBitcoinReserve” before the end of this session of Congress.

Here he is kissing Sam Bankman-Fried's ass on the floor of the US #Congress a few years ago: youtube.com/watch?v=MpIPlb7mYT

#DigitalAssetsStockpile#StrategicCryptoReserve#uspol
Replied in thread
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Ecologia Digital

@lxo @mudaste

"Povolotski: This isn't $20. This is not $100 million. This is like 200 to— this is #FTX type of shit.
Chow: Fucking hell, man. I feel sick… This is, this is, this is, this is #SBF level, man.
Later in the call, Povolotski reiterates: “This is in the multi-millions with a president, two presidents, one with his wife and the other is a president. Like, this is... I don't know anyone higher.”
#crypto #cryptoscam #Milei #Argentina
citationneeded.news/issue-77/

Citation Needed · Issue 77 – Whenever presidents get involved, if they become angry, you don't want to be there
More from Molly White
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Public
⚯ Michel de Cryptadamus ⚯

@jab01701mid yeah i'm surprised that they agreed to turn over the notes, but i suspect there's a lot more to the story behind that footnote that we will learn in due time.

as someone who had the pleasure of observing #DanielleSassoon in action live and and in person during the #SBF / #FTX trial i can attest to the fact that she is an *incredibly* effective communicator. read any of the press about the trial and you will see everyone who watched it observed this to be true. "holy shit that DA Sassoon is fucking crushing this" was like 70% of all discussion during breaks in the trial over in the journalists' section.

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