I'm actually not too sure about tokenized stocks. There's not been that much reporting done on it, but it's possible more intel emerges over time. stay tuned. -PR

Why did you want to be the AmeriCorps CEO?

Good question. FTX had their investments in an extremely broad and diverse range of companies, and they (meaning SBF) also had deep ties across Washington DC's political landscape, on both sides of the aisle.

SBF has said that he made millions of dollars in donations to the Republican party using "dark money" pathways, and it's possible those funds won't be something that can be tracked down.

As far as FTX influencing US markets via financial crimes, I haven't seen much about that, but at this point nothing would surprise me. There's been new reporting coming out on almost a daily basis for months now. -PR

[deleted]

Great point. I was talking to a lawyer about this exact thing recently, and he said he's never seen a financial case move this fast, let alone one this massive and complicated.

I don't know why or how it happened so quickly, but it's unprecedented in many aspects. -PR

Great question! Whether you are age18 or 80, we have opportunities for you no matter what your interest is and no matter where you live. If you are looking to make a career change you can think about our many options including mentoring students, being the first to respond when disaster strikes, helping families facing hunger, restoring public lands, or even rehabilitating affordable housing. More than 80% of members that complete service say that it was a defining professional experience. And a GREAT way to grow your network. There are over 600 Employers of National Service (that provide recruitment and retention benefits to AmeriCorps alums. Check out our Fit Finder to see what’s right for you! AmeriCorps.gov/FitFinder

Simply put - a lot. This goes back to trust. Trust had already been shaken in terms of crypto's value as an asset during 2022's deep bear market. But that trust was rattled further when Three Arrows collapsed, then other smaller firms, and then FTX.

It's one thing to see your portfolio crumble during a down year for assets. But it's an entirely different thing to feel like you've been cheated, or to learn your funds were being used for various things you didn't agree to, as in the case of FTX.

Trust is a critical component to markets, and when something like FTX's collapse happens, it can take time to rebuild. I don't have an exact forecast, but it won't happen overnight. Retail investors especially will need a reason to trust crypto companies again. And if those firms can't be trusted, that also sets back progress for the underlying blockchain technology.-PR

I’m brand new to Reddit so just learning what communities exist around national service and volunteering. What other communities exist around service?

Hi Phil. I have been wondering about this and would love to hear your thoughts. FTX got so involved in the public realm (arenas, World Series, world famous spokespeople, etc.). What could their involvement be in the dark alleys of Wall Street? Who could they have partnered with behind the scenes? With their infinite liquidity it stands to reason that they could have leveraged this fact to conduct financial crimes in the US markets at a unbelievably large scale. Is anyone ever going to investigate this? Thanks

I have not read or heard anything about this. But certainly food for thought. - PR

I have not - But I will! - PR

Regulators have accused SBF of orchestrating a years-long fraud, so the experts and legal teams seem to say there was bad intent there.

The new leadership at FTX, John Ray III in particular, has leveled claims at SBF and co. that they were wildly inexperienced in management and bookkeeping, which seems to make sense considering how young they were, relative to the ages of other financial firm's CEOs.

To me, it's hard to think that a math genius from MIT with Stanford professor-parents was unaware of so much that happened in his own company. No one has accused SBF of a lack of intellect. The guy is very smart. - PR

There is certainly plenty of blame to go around -- we can look internally at FTX and Alameda first. Sam Bankman Fried's 2 top deputies have already admitted to wrongdoing, and I have yet to speak to anyone who believes Sam when he tries to deny the criminal allegations against him.

But then we can turn to of course the many, many high profile investors and companies that invested in FTX, and trusted them. Where was their due diligence? Why didn't they see or acknowledge red flags? (Unless FTX was that good at hiding them).

And we can turn to media too - major outlets touted FTX as a blue chip crypto company, a beacon of trust in the "wild west" of crypto, and then many outlets wrote about Sam Bankman-Fried as if he was some sort of precocious finance prophet.

The blame can be pinned wide and far, but I think the fact that SBF faces up to 115 years in prison if convicted of all charges says enough about where the lion's share of the blame may end up going. - PR

Have you stumbled upon any of the connections between ftx and Ken griffin??

Hi! Yes, OE devices work similarly to the conventional, and they rely on organic molecules and polymers that can be semiconductors ( so you can fabricate, for example, a kind of pn junction, or the active layer of a transistor etc), or insulators ( for dielectrics in transistor, or device substrates), and even as conductors, though these latter are a limited class.

[removed]

On a scale of 1-10, with 10 being Madoff, how does FTX compare to that?

Thanks for your question here! This goes back to trust -- many everyday traders and institutional players lost faith in cryptocurrency. Perhaps not as an asset in a vaccuum, but as an industry due to the shaky series of events over recent months. But even before FTX imploded, there was a deep bear market over 2022 for digital assets that saw market caps for the most popular tokens all crash.

It looks to me like rebuilding trust will be key to the future of crypto. You will have plenty of very bullish and optimistic crypto investors still, but I think that group has shrunk since a year ago.

Interestingly though, if we look at the biggest cryptocurrency, bitcoin, while it's down 55% over the last 12 months, it has actually rallied about 12% in the last five days. Its possible that bitcoin and eth, the second largest crypto, could rally alongside traditional equities regardless of trust in the sector, so maybe if a bull market gets underway there could be some upside for certain larger tokens. - PR

[removed]

[removed]

Do you think FTX began with good intentions from inexperienced businesspeople, or was it a nefarious endeavour from the start?

One downstream impact is likely to be fewer Wall Street firms/banks getting involved with crypto. Already, we have seen the repercussions of FTX's collapse hit other crypto exchanges, and that gives a cautionary tale for traditional finance. The Federal Reserve recently warned financial institutions about investing in crypto, and though they didn't mention FTX by name, they said "contagion risk" stemming from poor oversight among crypto companies pose a risk to banks.

Increasingly, investors and users are questioning the safety and trust of companies and tokens, even companies that have been around for a relatively long time. FTX was so embedded with so many different crypto companies, it's hard to know where its financial influence stopped.-PR

Can you answer about the tokenized stocks please? It's been asked over and over in here. The silence is deafening.

Has there been a noticeable trend, positive or negative, in volunteerism over the last 50 years?

I’d like to volunteer, but it seems like the working class has no time and it’s left to retirees and people with means to tolerate no income.

What is going on with the tokenized stocks? Do you think they actually backed these in any way shape or form with legitimate securities?