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Steven Stradbrooke of CoinGeek talks the ‘Control Failures at the FTX Exchanges’. It's the bankruptcy court-appointed FTX Debtors group interim report that highlights, among other things, that they have “recovered and secured” over $1.4 billion in digital assets and “identified” an additional $1.7 billion worth of tokens they are “in the process of recovering.”
All too often, SBF and other senior managers themselves were in the dark as to what they owned, according to Stadbrooke.
FTX and its affiliated market-maker Alameda Research stored their digital assets in haphazard ways.
As SBF himself detailed in an internal communication with other execs: “Alameda is unauditable. I don’t mean this in the sense of ‘a major accounting firm will have reservations about auditing it’; I mean this in the sense of ‘we are only able to ballpark what its balances are, let alone something like a comprehensive transaction history.’ We sometimes find $50m of assets lying around that we lost track of; such is life.”
Stadbrooke also offered this little nuggets:
FTX’s dysfunctional nature was embedded in its DNA, to the point that the FTX Group lacked an accurate list of employees at the time of its bankruptcy. The Debtors ended up creating four ‘silos’ of FTX/Alameda operations just to attempt to make sense of the organizational chaos.
Poker Ace Beats ChatGPT and Wins $117
Paul Watson won $117 playing poker at the exclusive Club 52 in an event hosted by Cactus, the Bermudian-based technology company. His opponent was none other than the AI-driven ChatGPT.
A spokesman for the event said: “While the AI model demonstrated an understanding of the game, it lost $117 to its flesh-and-blood opponent. Despite the outcome, the event showcased the potential of artificial intelligence in complex, real-life scenarios.”
Euell Smith, who has played poker all over the world, shared his excitement: "As a nerd and poker enthusiast, I'm thrilled to be part of this groundbreaking event. The possibilities for AI in the future are limitless, and I can't wait to see where it leads."
Watson is not exactly a household name but he does show up on the Hendon Mob database.
Bradley Beal Talks Fan Incident Over Gambling in Orlando: ‘Nobody Wants to Lose Money’
Last month, Washington Wizards player Bradley Beal was confronted by two gamblers who accused the NBA player of causing him to lose his bet.
One of the men allegedly shouted: "You made me lose $1,300, you f***.”
Beal turned around and swatted that man's hat off his head. Beal and both men got into an argument.
A police report was filed the next day after one of the men told police he wanted to file charges against Beal. The bet in question was never specifically detailed.
For the first time, Beal has commented on the issue.
"Nobody wants to lose money. I get it. If you keep it about sports, I'm all for it," Beal said, via ESPN. "But I think it's when people start getting personal, talking about your family, talking about your character, your integrity towards the game. I think all of that, we can save it. We can really keep those comments to ourselves.
"I understand. I go to casinos, I gamble, I understand that. But I also understand it's probably a 99% chance I'm going to lose," Beal said Monday. "I'm not sitting here about to get angry at the dealer or angry at everybody else."
Security footage did not capture the initial alleged altercation.
- Jagajeet Chiba, Gambling911.com
