<story><title>IRS files $44B claims against bankrupt FTX</title><url>https://unchainedcrypto.com/irs-files-44-billion-claims-against-bankrupt-ftx/</url></story><parent_chain><item><author>tombert</author><text>I sincerely hope that I never meet Sam Bankman Fried, because if I did I do not know what I would do but it certainly wouldn&amp;#x27;t be legal.&lt;p&gt;I was stupid and thought that the 7+% interest I was getting from Gemini+GUSD+Genesis Holdings was a good idea, I put a good chunk of money in there, and as of right now the status for that appears to be in &amp;quot;limbo at best&amp;quot;.  It&amp;#x27;s particularly upsetting, because this all unfolded right after I got fired from my last job, when I really needed my liquid money to pay for things like &amp;quot;my mortgage&amp;quot; and &amp;quot;food&amp;quot;.&lt;p&gt;I&amp;#x27;m fine now fiscally, and even wasn&amp;#x27;t in too much trouble back in November [1], but it make me lose multiple nights of sleep worrying about stuff, and also made me feel like an idiot for ever thinking that cryptocurrency was a good idea.&lt;p&gt;[1] I have a good chunk of money stashed in stocks&amp;#x2F;ETFs, which I could have liquidated for money, but the market was pretty far down so I would have had to take a big haircut.</text></item></parent_chain><comment><author>prepend</author><text>I’m sorry for your loss but I’m really amazed you thought that 7% yield from savings at a time of 0% interest rates was anything other than a fabrication.&lt;p&gt;I looked at these and they were so absurd there was no way I would invest. No fundamentals. No audit. No insurance. No stable company or bank.&lt;p&gt;What was your thought process in putting funds here? Did you think it would just take longer to explode and you would be able to withdraw before? Did you genuinely believe?</text></comment>
<story><title>IRS files $44B claims against bankrupt FTX</title><url>https://unchainedcrypto.com/irs-files-44-billion-claims-against-bankrupt-ftx/</url></story><parent_chain><item><author>tombert</author><text>I sincerely hope that I never meet Sam Bankman Fried, because if I did I do not know what I would do but it certainly wouldn&amp;#x27;t be legal.&lt;p&gt;I was stupid and thought that the 7+% interest I was getting from Gemini+GUSD+Genesis Holdings was a good idea, I put a good chunk of money in there, and as of right now the status for that appears to be in &amp;quot;limbo at best&amp;quot;.  It&amp;#x27;s particularly upsetting, because this all unfolded right after I got fired from my last job, when I really needed my liquid money to pay for things like &amp;quot;my mortgage&amp;quot; and &amp;quot;food&amp;quot;.&lt;p&gt;I&amp;#x27;m fine now fiscally, and even wasn&amp;#x27;t in too much trouble back in November [1], but it make me lose multiple nights of sleep worrying about stuff, and also made me feel like an idiot for ever thinking that cryptocurrency was a good idea.&lt;p&gt;[1] I have a good chunk of money stashed in stocks&amp;#x2F;ETFs, which I could have liquidated for money, but the market was pretty far down so I would have had to take a big haircut.</text></item></parent_chain><comment><author>cwkoss</author><text>FTX failure isnt a cryptocurrency problem, its a plain old boring case of financial mismanagement and fraud.&lt;p&gt;Good reminder to all here that if you don&amp;#x27;t hold they private keys to your crypto, all you have is an IOU from a risky new business.</text></comment>