SBF from FTX uses nootropics depot. Can anyone zoom in and figure out what supplement that is?

The fact of the matter is that FTX held basically ZERO bitcoin at the time of failure, even though billions of dollars of BTC was bought by customers through their exchange. What does that mean? Well that means they were effectively facilitating BTC buys through their exchange, but immediately converting them to FTT to loan out to Alameda to funnel into other coins like Solana. FTX/Alameda were the primary driving forces behind the Solana funding this cycle, and it is looking like they were doing that through essentially shorting BTC and ETH the entire cycle. This is because when you are an exchange facilitating buys of BTC and ETH on your platform, but then immediately converting them to your exchange token, you are effectively entering into a short position against BTC and ETH. However, this is a naked short position, as it is only backed up by your fabricated FTT token. If you then lend that FTT token out to a trading firm to prop up the price of shitcoins like SOL, things implode when the music stops. Customer's buys of BTC and ETH on FTX should have been backed 1:1 in the exchange's hard wallets. This would lead to efficient price action on those coins, because real supply/demand forces would be resulting in the price action. However, it appears what FTX did was use customer's deposits and trades to funnel that liquidity to other projects in the space. This leads to inefficient price action, because synthetic demand was driving up the price of the shitcoins against legitimate supply, and driving the down the price of BTC/ETH due to the FTT token BS. No part of this would drive BTC's price up the second half of the year. It actually DEPRESSED the price of BTC, as it was effectively using demand for BTC to artificially shift into demand for things like SOL.

Everyone and their mothers were jumping on the shitcoin casino in early 2021. I had people coming up to me left and right asking about DOGE, SHIB, SOL, etc. I had people left and right telling me that I was an idiot for not lending out my large reserves of held coins for "risk free" yields on some of these platforms. Where do you think those yields were coming from? SYNTHETIC PRICE ACTION FROM EXCHANGE-BASED TOKEN PUMPS! That's the only place that 20% yields can come from. When things turned south in mid 2021, all these charlatans started panicking. Their ponzi scams could only hold up as long as retail bagholders kept the music playing. However, they had to find a novel way to keep the music going. This is when SBF started using real demand for BTC and ETH to convert to FTT, "loan" out that FTT to Alameda, who then desperately propped up their shitcoin bags with synthetic demand. This kept the yield train going, resulting in people continuing to gamble on these "high ROI" shitcoins instead of real crypto projects like BTC and ETH. Moreover, it didn't just detract people from buying BTC/ETH. It actually killed the real price discovery in BTC and ETH because of the naked shorting they were doing. Without this exchanged fuckery, we would have seen much higher peaks on the BTC and ETH side. The demand was there. The buys were there. They just were not let to organically affect the price action of those coins, and instead were funneled into other pet project coins. The data is looking like FTX used up to $10B in customer funds to prop up Alameda. Just look at the BTC volume history on FTX, then look how they held effectively zero BTC at the end, and the story becomes clear. Then you have Terra/Luna, which was doing similar things to prop up their yields. You've got Celsius. You have the Three Arrows Capital. Now you have Genesis and Gemini Earn. What do they all have in common? They were desperately trying to prop up shitcoins and yield tokens through various, possibly illegal, strategies. None, and I mean absolutely none, of these strategies did anything but depress the organic price action of BTC this cycle. You can't take organic demand and legitimate buys for BTC, then sneakily or overtly convert them to backed-by-nothing exchange tokens, then use those tokens as synthetic demand for other coins, without it massively depressing the price of BTC. The idea that FTX was the driving force behind the double top in BTC is silly when you see they held almost zero BTC. Customers of FTX bought tons of BTC. If it is not in FTX's wallets, which it has now been shown not to be, it was effectively used to naked short BTC through the cycle. Naked shorting does nothing but artificially depress organic price action in an asset. FTX had billions of dollars in BTC trading volume in the final days leading up to the end. However, their BTC wallets had been at 0. This means they were facilitating sales of BTC that didn't exist. Since the price action was massively down, they were depressing the price of BTC synthetically.

As to SBF being "single handledly the largest recipient of tether," I don't see how that pertains to BTC price action. FTX only held $46M in USDT at the time of collapse, and they held it in a Tron blockchain wallet. Tether has since frozen that USDT. SBF through his Alameda fund was one of the largest recipients of USDT, but they traded almost exclusively in shitcoins. That Tether was not being used to buy BTC. That Tether didn't do shit for the double top in BTC. You absolutely could make the argument that the USDT sent to Alameda propped up things like Tron and Solana, though. With what we know now about the FTT "loans" to Alameda using FTX customer funds, this is just another piece of the puzzle in the strange BTC price action the second half of 2021. In fact, you could make the argument that the crash mid 2021 was caused by cascading shitcoin liquidations using BTC and ETH as the backing for the naked short positions. As people started panic selling all the over-leveraged shitcoins, these shitbag entities had to start liquidating their real crypto like BTC and ETH to prevent liquidations. This crashed the price of BTC and ETH mid 2021. Elon's fuckery, and China's "totally real this time, guys" ban were just fuel for the over-leveraged shitcoin fire. If places like FTX, Celsius, Three Arrows, Alameda, Geneis, Gemini Earn, etc. never existed, real organic demand for BTC and ETH would have resulted in a much more efficient price discovery in the space, and a much much higher peak. This is why you think BTC and ETH's ROI sucks now. It's because frauds in the space caused it to be so, and convinced retail that YOLOing into pre-mined centrally-controlled shitcoins was a more sound strategy at higher ROIs than real crypto.

As to your comment that dog-faced shitcoins causing more demand for BTC and ETH, I vehemently disagree. Every single one of the people that came up to me asking about DOGE and SHIB in early 2021 is no longer holding any crypto. They didn't see the error in their ways and suddenly realize the true value of real decentralized sound money, then go buy BTC and ETH and put it in their hard wallets. They sold off all the shitcoins in a panic like retail always does, and now call the whole space a ponzi scam. I would be willing to bet that none of them will buy into BTC and ETH leading into the next bull run. Maybe one or two might jump in late in the game mid 2024, then be stuck bag holding again. This is NOT healthy for cryptocurrency. It's not healthy for people's view of the legitimacy of BTC and ETH as real game changers to the financial space. Satoshi didn't write the bitcoin white paper in an attempt to create an even less regulated version of the Wall Street options casino. He didn't envision a decentralized sound money system so that Twitter/TikTok influencers could trick their followers into buying random shitcoins in an attempt to get 10,000% ROI in 6 months. The idea that meme coins are good and healthy for crypto, or that they legitimately bring in retail investors into the space long-term, is just silly online nonsense. I've seen the real legitimate uses for cryptocurrency. I've had more bank accounts and processing accounts frozen or dropped than you can imagine. I've seen the real need for a decentralized sound money digital asset. There is real value in BTC and ETH existing, way beyond hype demand. Every time some charlatan comes into the crypto space and causes fraud like this, and every time thousands more people are turned into crypto skeptics by losing everything in scams, the entire legitimacy of the crypto market is harmed. That's not good for BTC and ETH long-term. It damages the reputation of one of the single biggest disruptors to the modern financial system in our lifetimes. Call me naive. Call me an idealist. However, I truly believe in the long-term viability of the bitcoin ecosystem, and this constant fuckery I have to watch every cycle from brand new frauds in the space is disheartening. I watched fuckery in 2013 with MT GOX and BTC-e. I watched fuckery in 2017 with ICOs. I watched fuckery this cycle with yield tokens and NFTs. Throughout all of it, bitcoin keeps doing what Satoshi set it out to do: be a decentralized sound money digital asset. Shiba inu coins do fuck all to get people to understand that. Random people like CZ creating exchange tokens out of thin air, then tweeting shit to people to manipulate the market, does fuck all to really show people why cryptocurrency exists in the first place. I genuinely believe in this shit, and I am almost too ashamed these days to even talk to people about it, because of ponzi frauds and shitcoins. I try to really help people understand about the technology behind bitcoin and why it existing matters, and they fucking YOLO into DOGE because Elon verbally shits some bullshit out of his narcissistic uninformed mouth. Twelve fucking years of me watching this. You have to understand the depth of my frustration at it all.

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