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Official BGOL Crypto Currency Thread ★★★★★

Helico-pterFunk said:
www.thedailybeast.com

Jay-Z’s Pushing Crypto in the Projects. It’s a Tough Sell.

The billionaires tried to bring crypto-mania to Brooklyn. Not everyone is happy.
www.thedailybeast.com www.thedailybeast.com
Click to expand...
I saw this and signed up. My bk address is not close enough to Marcy even though I can walk there. I grew up in the PJs, some do pretty decent, some are below poverty level but most are hard working where food, clothing and shelter are not a problem. Spending money, recreational funds and play money are the problem for the most part. Enough to live but not enough to save or think long term.

I feel Jay and the people that are doing this but the average person in Marcy won't sign up for this. Even with the free crypto.

 
5izyuy.jpg
 
Voyager update


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Dear frosty,

Earlier this week, the Bankruptcy Court approved Voyager’s entry into an asset purchase agreement for the sale of substantially all of Voyager’s assets to FTX US for about $1.422 billion, including an estimated $111 million of incremental value to be paid by FTX US for Voyager’s cryptocurrency (measured as of late September), as the highest and best bid in Voyager’s highly competitive two-week
auction.

Following this Court approval, Voyager will move forward with a customer vote on the broader Chapter 11 plan, through which the FTX US sale will be implemented. As you consider how to vote, below we have provided answers to some key questions, including details on how much crypto will be returned to you and how.

In the coming days, our claims agent, Stretto, will be sending you a packet with additional information, including instructions on how to submit your ballot and a comprehensive Q&A. Please review this packet carefully.

We believe this is the best transaction available: FTX US’s bid was the highest and best to come from the auction. Therefore, we urge you to vote YES to accept the plan. The deadline to cast your vote is November 29th at 4:00 PM Eastern Time.
Should you have additional questions, our restructuring information line remains available at +1 (855) 473-8665 (toll-free in the U.S.) or +1 (949) 271 6507 (for parties outside the U.S.), as does our case website at https://cases.stretto.com/Voyager

What did the Court approve?
As part of a multi-step process, the Court approved Voyager’s entry into the asset purchase agreement between FTX US and Voyager. FTX US’s bid, valued at approximately $1.422 billion, is comprised of (i) the fair market value of all Voyager cryptocurrency at a to-be-determined future date prior to closing of the sale, which at current market prices as of September 26th is estimated to be $1.311 billion, plus (ii) additional consideration which is estimated to provide approximately $111 million of incremental value to creditors. Voyager’s claims against Three Arrows Capital will remain with the bankruptcy estate and any recovery on account of the 3AC claims will be available for additional distribution to Voyager creditors.

What are the next steps?
Following approval of its entry into the agreement, Voyager will move forward with a customer vote on the broader Plan, through which the sale to FTX US will be implemented. The deadline to vote on the Post Sale Communications Plan is November 29. Because we believe the Plan, including the sale to FTX US, maximizes recoveries to Voyager’s creditors, we urge all customers and creditors to vote in favor of the Plan.

How do I vote?
In the coming days, our claims agent Stretto will send solicitation packets to all creditors entitled to vote on the plan, including customers. The solicitation packet includes voting instructions and the approved Disclosure Statement, which provides further details on the Plan. We encourage you to read the entire solicitation packet before submitting your ballot, whether you vote online or by mail. For your vote to be counted, you must return your ballot to Stretto by the voting deadline of November
29th at 4:00 p.m. prevailing Eastern Time. Only ballots actually received by the November 29 th deadline will be accepted.

Why should I vote to ACCEPT the plan?
Voyager and its affiliated debtors believe that the sale to FTX US is in the best interest of all stakeholders and, ultimately, is the best possible—and only actionable--transaction available. As such, Voyager and its affiliated debtors urge you to properly and timely submit your ballot, in advance of the November 29th deadline, with a vote to ACCEPT the plan.

How much value will be returned to me?
Under the plan, the purchase price of Voyager’s cryptocurrency by FTX US, other than for VGX, will be determined based on a 20-day historical average at a future point in time. Because of this, the pro rata value each customer receives will be impacted by the price of Voyager’s cryptocurrency portfolio during the 20-day reference period, which has not yet been set.

Value may be returned to customers through a mix of in-kind crypto, USDC, and U.S. dollars, depending on the nature of a customer’s claims, whether and when customers transition to FTX US, and the specific coins supported on the FTX US platform. Only customers who transition to FTX US will be eligible to receive cryptocurrency as part of their plan distribution—customers who do not transition to FTX US will receive their distributions in cash from the Voyager bankruptcy estates. FTX US currently supports tokens that represent about 77 percent of cryptocurrency denominated claims and is seeking to add additional tokens to raise this percentage.

FTX US does not currently support the VGX token. FTX US has offered to purchase all VGX held by Voyager and its affiliates for a purchase price of $10 million. This is the floor price for VGX. Voyager will continue to work internally and with third parties in an effort to identify a higher and better solution for VGX that is also compatible with the FTX US Asset Purchase Agreement. Any such alternative solution, to be acceptable, must deliver value that exceeds $10 million. If Voyager is unable to identify a higher and better solution for VGX, it will accept FTX US’s offer and this $10 million will be added into the purchase price for all of Voyager’s other cryptocurrency, for distribution to customers. VGX may decline in value and may have no value post-consummation of the plan. VGX constitutes a small fraction of the total value expected to be returned to customers.

To help you understand how much value you may receive through the sale to FTX US, an illustrative distribution spreadsheet is available at: https://cases.stretto.com/Voyager/content/1713-account-holder-illustrative-recovery-analysis/.
You can input the number and type of coins in your account using that spreadsheet, and it will calculate an estimated distribution as if the Voyager portfolio had been sold on September 29th, 2022, adjusted for the size of the total claims pool against Voyager and associated holdbacks.

The U.S. Bankruptcy Code requires that all creditors of the same class receive “equal treatment” so value will be equitably distributed amongst all customers (i.e., no customer can have a higher opportunity to recover on their claim than another customer).

Further, on the 30-day anniversary of closing, those customers who have transitioned to FTX US will also have an additional $50 deposited into their FTX US account if they have executed one cryptocurrency transaction on the FTX US platform, regardless of the size of the trade. This first trade will not be subject to any transaction fee.

Why was FTX US’s bid selected?
After multiple bidding rounds in a highly competitive auction process that lasted two weeks, with active participation from the Official Committee of Unsecured Creditors (UCC), the FTX US bid was selected as the highest and best bid for our assets. FTX US’s bid, which is significantly better for customers than its original bid, was chosen because it maximizes the value returned to you in the shortest time. Ultimately,
the deal reached with FTX US pursuant to the auction contains up to $96 million more for customers than FTX US’s original bid.

Does the UCC support FTX US’s bid?
Yes. The UCC participated actively in the competitive auction and supports FTX US’s winning bid, and agrees the plan must be confirmed to ensure that customers receive distributions in the greatest amount and as quickly as possible.

What happens after the voting period ends?
We anticipate the Bankruptcy Court confirming the Plan as soon as early to mid-December. At that point, Voyager and FTX US will move forward with closing the sale and begin the process to return value to customers through their FTX US accounts, and more information will be provided about steps you need to take to open your FTX US

Sincerely,
Team Voyager
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[/spoiler]
 
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Man LISTEN..

I TRIED TO TELL YALL OVER AND OVER AGAIN.. YALL DONT UNDERSTAND

THESE CENTRAL BANKSTERS ARE SERIOUS ABOUT TAKIN OVER CRYPTO,

THEY WANTED LUNA BAD, BUT DO KWON IS TOO MUCH OF A PROBLEM AND HARD TO TOUCH

IN ASIA... Walk with me here, THIS SHIT GETS CRAZY..

they thought they took Luna out but do kwan that arrogant prick is smart as fuck..

BUUUUUUUUUT MAKERDAO is the BIGGER THAN LUNA the

CENTRAL BANKSTERS ARE DROOLING FOR CONTROL OVER THAT..

so much so... ONE OF THE CO FOUNDERS OF MAKERDAO...

He is a 29 year old budding young crypto superstar.. or should I say WAS...

He was FOUND DEAD DROWNED in a beach in Puerto Rico...

READY FOR THE CRAZY SHIT.. I WAS TRYIN TO TELL YALL HOW BAD THIS FUCKIN

DEMONIC GOVT WANTS TO STOP THE PEOPLE FROM PROGRESSING.

STAKING IS PURE FREEDOM FROM BANKS... and THEY KNOW IT..

OK HERE IS THE FUCKIN CRAZY PART CONFIRMING WHAT I BEEN SAYING FOR FUCKIN MONTHS..

EXHIBIT A

HIS LAST TWEET...

 
LegendOfLedo said:
Should I move all my holdings in meta to trust wallet?
Click to expand...

It would be best to move it in your own wallet, but definitely get it off metamask

and uninstall any extensions you may have on your browser... especially if you

have the extensions on multiple browsers.

Yea I would go with trust wallet over the NO FUCKIN SECURITY whatsoever METAMASK

they KNOW that shit is suspect to hackers and they refuse to up the security..

dont trust THEM MUTHAFUCKAS AT ALL, I was just reading how they know folks losing millions

a year and they refuse to up their security by offering better authentication.. they are definitely

in on it.

Way too many fake metamask phishing sites out there...

LEAVE METAMASK THE FUCK ALONE

YOUVE BEEN WARNED!!
 
darth frosty said:
Click to expand...

This time of year bitcoin usually jumps up (has for the last few years) and I cash some out to do Christmas shopping, been my stead Christmas fund. With all these different coins popping up and the scam coins makes the crypto market as a whole become a hit or miss investment. Friend trying to get me to invest in the Coinstar kiosks cause now you can buy bitcoin with it.
 
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mrcmd187 said:
This time of year bitcoin usually jumps up (has for the last few years) and I cash some out to do Christmas shopping, been my stead Christmas fund. With all these different coins popping up and the scam coins makes the crypto market as a whole become a hit or miss investment. Find trying to get me to invest in the Coinstar kiosks cause now you can buy bitcoin with it.
Click to expand...

The market is being artificially held down by wallstreet banksters who DONT want the PEOPLEs version of digital money,

they want us to adopt their digital prison sy I mean monetary system... but they bum rushed the cyrpto world when biden

got into office and let corporations from big pharma to miltiary industrial complex running wild under his leadership...

if the democratic party gets shaken up... then crypto will go back to its regular norms..

and I would expect a big bull run by early April..... but if dems remain,

expect the shit to continue indefinitely
 
An RnB Thug said:
CZ put FTX OUTTA business then BOUGHT them.
In just a few days. Gangsta
Click to expand...

I saw a blurb about this but must've misread it at first. Wow. I thought FTX was one of the last dogs standing. Didn't they recently acquire some exchanges of their own?
 
Madrox said:
I saw a blurb about this but must've misread it at first. Wow. I thought FTX was one of the last dogs standing. Didn't they recently acquire some exchanges of their own?
Click to expand...

Yeah they bought BlockFi & Voyager (Not sure how it affects these deals yet)
CZ, tweeted he was selling all his $FTT the other day and EVERYBODY started pulling money off
of FTX. They lost 6 Billion in less than 3 days.
Crazy shit. I'm hearing FTXUS wasn't part of the deal though.....
 
An RnB Thug said:
Yeah they bought BlockFi & Voyager (Not sure how it affects these deals yet)
CZ, tweeted he was selling all his $FTT the other day and EVERYBODY started pulling money off
of FTX. They lost 6 Billion in less than 3 days.
Crazy shit. I'm hearing FTXUS wasn't part of the deal though.....
Click to expand...
Binance backs out of FTX rescue, leaving the crypto exchange on the brink of collapse

Binance is backing out of its plans to acquire FTX, the company said Wednesday, leaving Sam Bankman-Fried’s crypto empire on the verge of collapse.
The reversal comes one day after Binance CEO Changpeng Zhao announced that the world’s largest cryptocurrency firm had reached a non-binding deal to buy FTX’s non-U.S. businesses for an undisclosed amount, rescuing the company from a liquidity crisis. Earlier this year, FTX was valued at $32 billion by private investors.



“In the beginning, our hope was to be able to support FTX’s customers to provide liquidity,” Binance said in a tweet on Wednesday. “But the issues are beyond our control or ability to help.”
On Monday night, facing a liquidity crunch, Bankman-Fried was scrambling to raise money from venture capitalists and other investors before he went to Binance, according to sources with knowledge of the matter. Zhao initially agreed to step in, but his company quickly changed course, citing reports of “mishandled customer funds and alleged U.S. agency investigations.”
It’s unclear who is next in line to buy the beleaguered crypto exchange. Bankman-Fried told investors that the company is facing a shortfall of up to $8 billion from withdrawal requests and needs emergency funding, according to the Wall Street Journal.
The disintegration of the Binance-FTX deal is the latest chapter in a shocking collapse that’s rocked the crypto world this week. Bankman-Fried tried to reassure investors just on Monday that the company’s assets were fine. But after Binance’s Zhao said publicly that his company was selling its holdings in FTX’s native token FTT, the selloff was on, and FTX could do nothing to stop it.
One of Silicon Valley’s most prominent VC firms, Sequoia Capital, sank $210 million into the company, according to reporter Eric Newcomer. FTX was telling investors recently that its net income in 2022 was projected to drop to $144 million this year, down from $338 million in 2021, while revenue was projected to rise to $1.1 billion from $1 billion last year, Newcomer reports.

Bankman-Fried said on Tuesday that customers had demanded withdrawals to the tune of $6 billion. He also deleted tweets from the prior day indicating that FTX had enough assets to cover clients’ holdings.
Zhao told Binance employees in a memo earlier on Wednesday that he “did not master plan” the collapse of FTX. He said FTX going down is “not god for anyone in the industry” and employees should not “view it as a win for us.”
He also told them not to trade FTT tokens while this ordeal unfolds.
“If you have a bag, you have a bag,” he wrote. “DO NOT buy or sell.”
FTT had already lost 80% of its value between Monday and Tuesday, falling to $5 and wiping out more than $2 billion in a day. It fell by more than half on Wednesday to around $2.30, shrinking the total value of circulating tokens to roughly $308 million.
Cryptocurrencies have plummeted amid the deal turmoil, with bitcoinfalling 15% on Wednesday after a 13% drop on Tuesday. It’s trading below $16,000 for the first time since November 2020. Ether, meanwhile, has plunged more than 30% over the past two days and is close to falling below $1,000.
Here’s the company’s full statement:
“As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com.
In the beginning, our hope was to be able to support FTX’s customers to provide liquidity, but the issues are beyond our control or ability to help.
Every time a major player in an industry fails, retail consumers will suffer. We have seen over the last several years that the crypto ecosystem is becoming more resilient and we believe in time that outliers that misuse user funds will be weeded out by the free market.


www.cnbc.com

Binance backs out of FTX rescue, leaving the crypto exchange on the brink of collapse

Binance is backing out of its plans to acquire FTX, the company said Wednesday.
www.cnbc.com www.cnbc.com
 
so satan himself CROAKS the biggest bankster in the world heads to

the lake of fire... and everything tanks...

Sounds like claims for his Estate being made.....!!!

EVIL LIN ROTHCHILD is no more,

the banksters lost a lot of tentacles....

this gonna get real interesting..
 
hey crypto is going to be back,

but just undersand this..

fuck what ya heard

MONEY IS FOR SPENDING and ACQUIRING REAL ASSETS..

but MOSTLY FOR SPENDING AND ENJOYING and MAINTAINING LIFE..

cant wait till the smoke clears to see the fire sale..!!
 

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