I wonder if this is what’s behind the divorce. Tom likes Ponzis I guess.
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Yeesh! Reminds me of 2008.
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Damn…
So now that he’s broke he’s gonna have to play another 10 years?
If true that’s not his fault. How are you supposed to live on only 650M ?
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That is sad … he’s probably down to his last couple hundred million and a paltry, barely $375 million contract already signed. I worry about the kids.
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Living on a budget is tough… might have to even fire one of the personal chefs…
Who’s gonna pack the kids’ lunches now?
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It always amazes me how many athletes are broke for doing almost exactly the same thing. Poor investments, get rich quick schemes, you read about it all the time. If a guy like Terrell Owens had just taken his career $150m in earnings and put it in a savings account he could have lived comfortably off the interest alone. Now he’s a hall of fame receiver player in an arena d league because he’s broke.
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Sadly he’ll have to fall back on that measly $40m per year from his Fox broadcasting contract.
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So, short story.
Its basically Lehman Brothers (no liquidity to meet redemptions that flood in when people smell you are in trouble) and MF Global (investment firm takes your money, says its in investments, reroutes the cash w/o telling you to its own private trading fund and loses it all) had a Bernie Madoff bs story about how they were generating yield by super smart secret crypto magic, when it was a Ponzi.
Their Secret Squirrel trading fund lost their ass a few months ago and magically a huge pile of their shitcoin (which you converted your cash into when you (and Tom and Giselle) “invested”) appeared overnight on the blockchain (public transaction ledger) to backstop the losses. People started sniffing that out and wanted their shitcoin turned into cash. Including a giant redemption request 2 days ago by their biggest competitor, who was cross invested.
Welp, they couldnt pay, then figured maybe their biggest competitor, Binance, could just take them over. Binance’s CEO said, “Yeah we could, need to see your books”. That took about 12 hours for him to say Aw Hellllll Naw Dawg, u going to JAIL, and pulled out. Shitcoin goes POOF in minutes. Redemptions suspended…dude worh 16Bs now negative net worth because TOYS ON DEBT…and gonna get a cell right next to Jimmy McGill, but longer than the 9 years Jimmy had em talked down to.
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Looks like they gained a stake in the company by being advertisers for the company… but also looks like they paid for some of it as well.
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Amen dude, thanks for that info.
The whole crypto thing has smelled like a rotting fish since it started.
That goes for NFTs as well.
It may get there…nowhere near enough blood in the streets yet
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One of wife’s best friend is an employee of FTX. Or was an employee until . Saw this meteoric rise and then all this. But I have no idea how to bridge that subject with her. Maybe in time Inwill be able to. Bc the stories she must have. Probably like Revenge of the Nerds meets Wolf of Wall St.
Sam’s on the run now. Might personally owe creditors 650m 
That nerd is in trouble.
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I can’t even imagine losing 8x the largest lottery in history in a matter of hours. How does he not stick his head in an oven?
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TOO BIG
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Put your time in God and yourself. Women and money will leave.
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Wow that is crazy… inside job it sounds like…
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