#ponzischeme
The #Crypto Geniuses Who Vaporized a #Trillion #Dollars Everyone trusted the two guys at Three Arrows #Capital. They knew what they were doing — right?
source: https://nymag.com/intelligencer/article/three-arrows-capital-kyle-davies-su-zhu-crash.html
So far, liquidators have recovered only $40 million in #assets. “It became clear that they were insolvent but were continuing to borrow, which really just looks like a classic #PonziScheme,” says Kasselman.
#finance #money #economy #fail #crash #scam #technology #software #news #blockchain #bitcoin #bitcoins #btc
The only planet we can live in is being burned by a #ponzischeme as #inequality grows and people resort to fantasy https://www.fosslife.org/environmental-costs-cryptocurrency
#IDG and other fake news outlets/networks/sites (selling to companies flattering articles about themselves or renting out ‘news space’ to them, not just ad space) want us to think #Microsoft is doing very well, but it’s just that same old #Ponzischeme http://techrights.org/2022/01/27/perishing-with-microsoft/ #windows #vista11
● NEWS ● #TheHill #ponzischeme #microsoft #fictionalValue #Militarybailouts ☞ Microsoft CEO Nadella sells off nearly $300 million in shares of the company https://thehill.com/policy/technology/tech-execs/583459-microsoft-ceo-nadella-sells-off-nearly-300-million-in-shares-of http://techrights.org/wiki/index.php/Microsoft_-_Financials
● NEWS ● #CommonDreams #Afghanistan ☞ Opinion | US Empire's Afghan #PonziScheme Comes to Ignoble End https://www.commondreams.org/views/2021/08/13/us-empires-afghan-ponzi-scheme-comes-ignoble-end
● NEWS ● #TheNation #Finance ☞ Behind the Crisis in #Lebanon , a Vast Bank-Run #PonziScheme https://www.thenation.com/article/world/lebanon-financial-collapse/
Ponzi schemer Bernie Madoff has died in prison
Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died in a federal prison Wednesday, the federal Bureau of Prisons confirmed to CBS News. Madoff, 82, died at the Federal Medical Center in Butner, North Carolina, the bureau said in a statement.
The bureau said Madoff's cause of death would be determined by a medical examiner.
Madoff defrauded investors of $17.5 billion, of which $13 billion were ultimately recovered, though the supposed asset value of $60 billion proved only a lie. Madoff and his family were stripped of assets in a $171 billion forfeiture order. One of his sons committed suicide, his brother was also sentenced to prison for his role in the investment fraud.
