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Inside the FTX Scandal: A Shocking Look at Cryptocurrency’s Dark Side

 

The FTX Scandal Unraveled: How it Impacted the Cryptocurrency World…

Cryptocurrencies have come a long way since the creation of Bitcoin in 2009. Today, there are thousands of cryptocurrencies available, with a total market capitalization of over $2 trillion. However, with the rise of cryptocurrencies, there has also been an increase in scams and scandals. One such scandal that has rocked the cryptocurrency world is the FTX scandal. In this article, we will discuss the FTX scandal, how it impacted the cryptocurrency world, and what lessons can be learned from it.

What is FTX?

FTX is a cryptocurrency exchange that was founded in 2019 by Sam Bankman-Fried and Gary Wang. The exchange quickly gained popularity due to its advanced trading features, such as leverage and futures trading. In addition, FTX was known for its strong focus on user experience and customer support. By the end of 2020, FTX had become one of the largest cryptocurrency exchanges in the world.

 

Who is Sam Bankman Fried?

If you don’t know him, Sam Bankman-Fried is a computer scientist and entrepreneur. He is the founder and CEO of Alameda Research, a cryptocurrency trading firm, and FTX, a cryptocurrency derivatives exchange. He is also the founder of Alameda Charity, which provides grants to projects aimed at improving the cryptocurrency industry. Bankman-Fried is an outspoken advocate for the cryptocurrency industry and is well-known for his involvement in blockchain projects.

The FTX Scandal

In early 2021, the FTX scandal came to light. It was revealed that FTX had been engaging in wash trading, a form of market manipulation. Wash trading is the act of buying and selling the same asset simultaneously to create fake trading volume. This can deceive traders into thinking that there is more liquidity than there actually is, which can cause them to make trades that they wouldn’t have made otherwise.

The FTX scandal was particularly shocking because FTX was one of the most reputable cryptocurrency exchanges at the time. The exchange had built a strong reputation for being trustworthy and transparent, and had even received investments from prominent firms such as Binance and Coinbase.

Impact on the Cryptocurrency World

The FTX scandal had a significant impact on the cryptocurrency world. The news of the scandal caused FTX’s trading volume to plummet, and many traders withdrew their funds from the exchange. In addition, the scandal damaged the reputation of the entire cryptocurrency industry, which was already struggling with a perception problem due to its association with scams and illegal activities.

How Big Was the FTX Scandal?

As 4th largest crypto exchange, at one point FTX was values at an estimated $32B. The Wall Street Journal reports that Sam may have illegally taken about $10 billion in FTX customers’ funds for his trading firm. His company has collapsed and in additional to it’s default on $32b in debt, the FTX scandal caused $800b worth of crypto to leave the crypto market overnight.

Lessons Learned

The FTX scandal serves as a cautionary tale for cryptocurrency exchanges and traders alike. It highlights the importance of transparency and honesty in the cryptocurrency industry. Exchanges must be transparent about their trading practices, and traders must be wary of exchanges that engage in market manipulation.

In addition, the FTX scandal underscores the need for regulation in the cryptocurrency industry. While the industry has largely operated outside of traditional financial regulations, the FTX scandal shows that there is a need for greater oversight to prevent market manipulation and protect investors.

Conclusion

The FTX scandal was a significant event in the cryptocurrency world. It highlighted the importance of transparency, honesty, and regulation in the industry. While the scandal had a negative impact on FTX and the cryptocurrency industry as a whole, it also served as a wake-up call for the industry to address issues related to market manipulation and investor protection.

Here’s the bizarre story here…

WATCH:

https://www.youtube.com/watch?v=20BEJouWBgY

For more information visit tylerhayzlett.com

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School Shootings -TRAGIC expression of unmet needs, skills deficits, adverse childhood experiences, social isolation, hopelessness

In 2017 Jillian Peterson & James Densley began studying the life histories of mass shooters in the US for a project funded by the National Institute of Justice, the research arm of the U.S. Dept of Justice. They’ve built a database and analyzed every active shooter incident in the U.S. at a K-12 school since 1999 – the year of the Columbine High School Massacre. They’ve interviewed incarcerated perpetrators of school shootings and their families, students who planned a shooting but changed their minds, survivors and first responders, teachers and administrators. They’ve read media and social media, “manifestos,” suicide notes, trial transcripts, and medical records. Here is what they found:

“In every case, when a student had planned a shooting and changed their mind, it was because an adult reached out and made a connection that gave them hope.
School shootings are not an inevitable part of American life.
We can, and must, change our approach to preventing them.”

The TRAGIC EXPRESSION of unmet needs takes the broader look at the “bad kid” myth once and for all.

What’s wrong with these statements?
Spare the rod and spoil the child.
Kids should be seen and not heard.
They’ve got to learn.

Whether you are cringing or nodding along right now, these statements look at the surface behaviors with an unfair bias and even prejudice. So why are we okay with using these phrases that describe our children? Would we feel the same way if we said:

Spare the rod and spoil the elderly.
Europeans should be seen and not heard.
New Zealanders have got to learn.

In my TEDx talk, “The Rebellion is Here—We Created it, We Can Solve It,” I deconstruct the generational misconception that children, because of their youth and impressionability, should not be trusted. Subscribing to the belief that kids’ opinions should not be taken seriously leads to disconnection and a lack of trust between parent and child.

When we punish a kid for talking back, what we’re really saying is that their inner voice or feelings are irrelevant. And punishing surface behavior without addressing the source, the underlying unmet needs, often leads to what Dr. Thomas Gordon referred to as the Three R’s: Retaliation, Rebellion, and Resistance.

Do you want to build an environment where your child feels like they can tell you the truth 100% of the time? Do you want to teach them that they should never stand down in the face of prejudice, injustice—or even being told by an adult to do something they’re uncomfortable with?

Watch my TEDx talk for tips on how to communicate effectively and compassionately with your children, especially when they seem to be acting up. Let them know that they’re not “bad kids” for speaking up.

Love and Blessings,

Katherine

P.S. If you’re looking for a welcoming, compassionate group of parents that will accompany you on the journey to find solutions to our societal situation, through parental ups and downs, join our Conscious Parenting Private Facebook Group.

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How a Broke YouTuber Invented $4 Billion Business After Being Rejected 40 Times…

In 2012, Jack Conte and his wife, Nataly Dawn, were known as the indie band called Pomplamoose. They were bringing in roughly $400,000 per year in revenue from tour dates, merch, and on ads viewed by their 1.5M followers on their YouTube channel.

 

But then a mental breakdown a few years ago changed all of that…

After spending three months producing an elaborate music video for their song “Pedals, (it’s pretty impressive for a self-production). But the production came at the heavy cost of maxing out all of Jack and Nataly’s credit cards.

The Conte’s sunk their life savings into making the video popular on YouTube. So far the video has 2.3M views, but the confused couple received almost nothing for their efforts from YouTube…

They spent $10,000 and three months to make just the 1 video go viral on YouTube. He soon realized that, even though he receives an average of one million viewers on his YouTube videos, he’d only make $160 in ad revenue. Kind of a shitty reward for the time and effort they were putting in.

Jack knew there had to be a better way…

So he came up with an idea for creators to get compensated directly from their fans and cut out the middle man.

That’s how he came up with the idea of launching Patreon. He sent a sketch of his idea to his former college roommate, an engineer, who started coding for it that night. They launched soon after, with Jack being Patreon’s first official creator. Within two weeks, he was making six figures…

 

Wait, What is Patreon?

Basically it’s a membership platform that helps creators to get paid. Creators perform an artistic service and return, their fans and supporters (aka patrons) use Patreon to support them by means of payments. This way, creators can spend more time creating content instead of looking for funding.

There’s a few business models that content creators can use on this crowdfunding/membership platform.

 

Patreon’s Business Model Enables Creators to Charge For:

  • Community (monthly memberships)
  • Educational subscriptions
  • Gated premium content
  • Pay-what-you-can donations

 

Jack founded Patreon in 2013, today they have 3 million monthly active patrons generating $100M+ per month on the platform.

At one point for example, author and psychologist Jordan Peterson, was said to be making over $70k per month on the platform just in donations alone.

Patreon currently takes between 5% and 12% of creator earnings (plus a payment processing fee). The pandemic helped increase revenue with over 30,000 creators flocking to the site within the first few weeks of the pandemic. Videos and podcasts are the biggest categories on the site.

Along with all their success, the company is facing an intense amount of competition coming from Youtube, Twitter, Instagram, Only Fans, Substack, and Clubhouse (is that thing still alive?).  It seems every platform these days is doing their best to lure creators by allowing everyone to make money versus just the big creatives.

But for now, Patreon has proven their business model helping participants in the creator economy to get paid more. The result of the couple’s efforts so far has resulted in an estimated $8 million in cash.

The companies’ market valuation is currently hovering at $4billion. Which is a pretty awesome accomplishment that a broken husband fed up YouTube created a rival platform that turned him into a millionaire.

#boss…

 

 

For more information visit tylerhayzlett.com

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WATCH: Inside the Ever Unfolding TOSHIBA Scandal

Toshiba is a brand that’s been drowning in scandals for years. Including a recent one that involved overstating it’s profits to shareholders by $1.2 billion which resulted in the resignation of their CEO.

The company was once one of the most innovative businesses on the planet, they produced one of the first laptops. They were credited as being the first company to mass produce one. Chances are you owned one…

They were sued and settled to pay $1billion in a class action lawsuit for faulty equipment.

Despite being such an innovative company, Toshiba has experienced some massive setbacks over the years that have resulted from a combination of both poor business decisions and public scandals.

This video y Company Man highlights the most notable ones. Here’s a video that highlights the history of Toshiba’s insane series of scandals.

 

WATCH:

 

The Surprising History of Toshiba

Toshiba traces its history in Japan to 1875. The company rode the post-war Japanese manufacturing boom in the late 1950s to high growth portfolio of unique and innovative products. Toshiba began selling products in foreign markets during this period and continued to expand its businesses across the globe during the following decades.

Today, the conglomerate operates business units on a worldwide scale in a variety of diverse industries, including semiconductors, personal electronics, infrastructure, home appliances, and medical equipment.

Toshiba reported net worldwide sales of more than 3.38 trillion Japanese yen or $31 billion for the 2020 fiscal year. The company employs more than 125,648 people worldwide.

 

 

 

For more information visit tylerhayzlett.com

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WATCH: Guy Gets Paid to Shoot at Birds All Day in Order to Save Them. Here’s Why….

Somewhere in remote Montana, right now, there’s a guy getting paid to shoot an assault rifle at any bird that lands on his pond. In order to save their lives…

He’s a hero. In order to understand why, you need to know about the Berkeley Copper Mine.

 

The Most Dangerous Water in North America?

The Berkeley Pit is a former copper mine in the western United States, located in Butte, Montana.

Today it’s full of water. Deadly water…

With water that is heavily acidic (2.5 pH level), about the acidity of Coca-Cola, lemon juice, or gastric acid. As a result, the pit is full of heavy metals and dangerous chemicals that leach from the rock, including copper, arsenic, cadmium, zinc, and sulfuric acid.

It’s a cocktail of death, especially for un-expecting waterfowl.

The levels of copper are high enough in the water table that Montana Resources has mined copper directly from the water itself!

 

But the Berkley Pit is a Graveyard for Waterfowl…

In 1995, a flock of migrating geese landed in the Berkeley Pit and died. A total of 342 carcasses were recovered.

After inspecting the corpses, scientists discovered their insides were lined with burns and festering sores from exposure to high concentrations of copper, cadmium, and arsenic.

The water burned them alive…

On November 28, 2016, several thousand snow geese died after a large flock landed in the pit’s water to avoid a snowstorm. Immediately after the event, officials made efforts to scare birds away and prevent more from landing in the area.

Now, in order to protect any waterfowl from dying a very painful death, this man gets paid to protect them. By shooting at them…

Don’t worry, he doesn’t hurt them, he only scares them away for their own protection. Crazy job…

 

WATCH:

 

 

 

For more information visit tylerhayzlett.com

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Mike Tyson’s Was Arrested 40 Times by 13. His Life Advice Will Leave You SPEECHLESS…

“All my life I’ve seen murders and robberies. I came from that world where everything was dog-eat-dog. If you had money or jewelry, if you couldn’t defend it or protect it, you’re going to loose it.”

– Mike Tyson

 

Mike Tyson was first arrested at 10 years old. 38 more times by age 13.

Needless to say, he grew up in a rough neighborhood in Brooklyn. If you couldn’t protect yourself, you got taken advantage of. Mike was in over 400 fights in his life.

He quite literally fought his way through life and still is to this day…

 

WATCH:

 

How Mike Tyson Blew a $600 Million Fortune

By the age of twenty Tyson was one of the most famous figures on the planet. Namely for being the most talented boxers of all time. And for biting off Evander Holyfield’s ear off during one of the most televised matches in boxing history.

Here’s that throwback…

 

 

During his boxing career he amassed over $685 million and he accomplished to spending all of it. Every last penny…

He not only managed to blow through a half billion in cash, he then eventually owed over $50 million in debts, including another $13.4 million to the IRS.

 

So What Did Mike Tyson Spend $685 Million On Exactly?

  • Mike routinely traveled with an entourage so large it rivaled the size of a small country.
  • He owned Siberian tigers and spent hundreds of thousands/year to care for them.
  • He bought over $400k worth of pigeons too…it’s a long story
  • He had fleets of luxury vehicles, a posse of prostitutes, and a 21-bedroom mansion.

 

He was known to spend over $240k month for entertainment and another $100k/month for Jewelry and clothes.

During his lifetime, Tyson reached the peaks of fame and fortune most of us mere mortals will never know or experience. He climbed from the gutter to the height of success. But even at the top of the world by the age of 20, he still had a darkness inside of him…

Watch Mike explain his incredible life story and lessons of gratitude from his personal experiences literally fighting for his life.

 

For more information visit tylerhayzlett.com

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WATCH. This is What Makes Taco Bell So Successful

Taco Bell is the largest Mexican restaurant on the planet by volume. Here’s how they did it…

Taco Bell has been dominating Mexican fast food since the 1960s. They own over 7,000 locations consistently generating over $10 billion dollars in annual sales.

Watch the full story how or read the summary below.

 

WATCH:

 

 

Here’s  5 reasons Taco Bell is a household brand:

According to this episode of Company Man anyways…

 

1. Founder Glenn Bell (hence the Bell logo)

First and foremost, Taco Bell wouldn’t be a thing without it’s founder, who knew how to spot a potential opportunity when he saw one.

A cook who served in WW2, Bell returned home to start a restaurant in San Bernardino CA. Inspired by the McDonald’s franchise, Bell copied the model. Literally, Taco Bell used to be called Bell’s Hamburgers, they originally sold cheeseburgers and hot dogs.

Until one day Glen added tacos to the menu, altering the course of taco history…

 

 

2. Taco Bell Single Handedly Introduced the World to Tacos

The second reason for Taco Bell’s now icon status, was their role in introducing tacos the American market.

After 14 years in the restaurant business and having gone through 5 different restaurants and concepts, Glen launch Taco Bell in March 21, 1962 in Downey CA.

At the time, most Americans had no clue what a taco was. When ordering, most customers asked for a “tay-ko”, simply because they simply had never heard of a taco. Kind of like the whole gyro “guyroh” thing…

And they obviously fell in love with them. Putting Taco Bell on the map.

“I always smile when I hear people say that they never had a taco until Taco Bell came to town”. – Glen Bell

 

 

 

3. Pepsi Gave Them a Shit Load of Money

Another reason for their success was their partnership deal with Pepsi.

In the 1970s Pepsi was expanding and looking to invest in new markets. They bought Pizza Hut for $315 million, giving them access to sell their sodas to customers dinning in the largest Pizza Chain on the planet up until that time. Pepsi  wanted to saturate the Taco consumer market too. So they gave Glen a handsome $125 million for the right to sell Pepsi products at every Taco Bell.

Pepsi’s infusion of cash enabled the franchise to massively scale. They went from just under 1,000 locations in 1978 to nearly 7,000 by 1998. Meaning, almost every Taco Bell you’ve ever visited was started between the 80’s-90s Pepsi infused growth period.

 

 

 

4. Absolutely Bat-Shit Crazy But Catchy Menu Items…

While declaring to serve Mexican food, no one buys into that claim when it comes to Taco Bell. That’s because they have become famous for coming up with bat-shit crazy menu items.

The fourth key to the mega taco franchise model was their dedication to marketing. Especially standing out in crowded markets through their off the wall menu item.

Items like the Cheesy Gordita Crunch, the Mtn Dew Baja Taco Blast, their most successful product launch; the Crunch Wrap Supreme, and most recently the Doritos Locos Tacos. Or finally the rather nachos fries.

 

5. Taco Bell Excels at Marketing to Drunk People too…

Despite how much you want to hate them, Taco Bell continues to stay relevant across generations. They have a consistent track record of being customer focused and keeping their cost low. Something they have been promoting in their ads for decades…

One of their most successful marketing campaigns was “the forth meal of the day” commercials. After noticing a high influx in sales late at night (wink wink), the Bell starting promoting a “4th meal of the day”.

 

WATCH: 

On a more serious note though, probably the biggest reason Taco Bell has been so success over the years has been their commitment to their original mission; “thinking outside the bun”. Mission accomplished…

 

 

For more information visit tylerhayzlett.com

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How The War in Ukraine is Causing a Global Shortage For Millions…

Russia and Ukraine export nearly a third of the world’s wheat and barley. And  more than 70 percent of its sunflower oil…

The war in Ukraine is preventing grain from leaving the “breadbasket of the world” and making food more expensive across the globe.

World food prices were already climbing, and the war has made things worse, preventing over 20 million tons of Ukrainian grain from getting into the Middle East, North Africa, and parts of Asia.

According to this article in Intelligencer, West Africa is facing its worst food crisis in a decade, with the number of people in need of emergency food aid standing at 27 million in April and rising fast. Another 13 million face severe hunger in the Horn of Africa, and as many as 19 million will be food insecure in Yemen by the end of this year.

Europe embraces for another mass migration crisis sparked by food shortages in Africa and the Middle East.

Sri Lanka, once more prosperous than its neighbors, applied last month for 100,000 metric tons of food aid from a regional food bank as its debt crisis threatens to leave millions hungry.

Watch this video for a full explanation of the developing food crisis…

 

WATCH:

For more information visit tylerhayzlett.com

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Ford’s Future Car Looks Absolutely Stunning!

Ford Motor Co.’s luxury division on Thursday debuted the Lincoln Model L100 Concept at Pebble Beach Concours d’Elegance in California. And it’d totally badass…

Lincoln debuted the new futuristic product branding scheduled for 2040 at the Pebble Beach Concours d’Elegance. The new Model L100 concept pushes the boundaries of Lincoln’s “Quiet Flight” design to create connected experiences that reimagine the ultimate vehicle sanctuary of tomorrow.

WATCH the video explaining Ford’s plans to dominate the future of transportation design…

WATCH:

At the product launch, Ford’s Executive Chair, Bill Ford, said;

“Lincoln has been one of the most enduring and stylish automotive brands in the world and in many ways, it is perfectly positioned for a second century defined by great design, zero-emissions and technology-led experiences. Lincoln has always been special to me and my family, especially my father and my grandfather. If there is one secret to Lincoln’s longevity, it is the brand’s ability to balance its core values with a desire to innovate and create the future.”

“Concept vehicles allow us to reimagine and illustrate how new experiences can come to life with the help of advanced technologies and allow our designers more creative freedom than ever before,” said Anthony Lo, chief design officer, Ford Motor Company. “With the Model L100, we were able to push the boundaries in ways that evolve our Quiet Flight brand DNA and change the way we think about Lincoln designs of tomorrow.”

WATCH:

 

For more information visit tylerhayzlett.com

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Is This the Beginning of the End for Wayfair?

It’s been a big week for retail…

Wayfair, the online home goods retailer, announced today it was laying off close to 900 employees. This comes after the company announced a hiring freeze back in May.

The layoffs represent about 5% of the company’s global workforce and 10% of its corporate team. 400 jobs are being cut in Boston alone at the company’s HQ).

This announcement came as an alarm to investors, causing the stock to plummet…

Wayfair’s Stock is Crashing…

For the first two years of the COVID-19 pandemic, the company was profitable. According to The Wall Street Journal, Wayfair’s stock fell by over 17% Friday morning.

Wayfair has been struggling to keep customers after a spike at the start of the pandemic. Earlier in August, Wayfair said it lost 24% of active customers since last summer.

Recent regulatory filings revealed that the job cuts will help Wayfair “manage operating expenses and realign investment priorities.”

CEO Niraj Shah wrote in an letter to employees that the layoffs were a “difficult decision” resulting from Covid-19.

“We were seeing the tailwinds of the pandemic accelerate the adoption of e-commerce shopping, and I personally pushed hard to hire a strong team to support that growth,” Shah wrote. “This year, that growth has not materialized as we had anticipated. Our team is too large for the environment we are now in, and unfortunately we need to adjust.”

 

Is This the Beginning of the End for Wayfair?

Wayfair had flourished at the beginning of the pandemic, when demand for inexpensive furniture and other home decor upgrades that it broke global supply chains and caused lengthy shipment delays.

But fast forward to the present economy, inflation has killed discretionary spending for  middle-income shoppers, who have pulled back their purchases to focus on paying for necessities like groceries, gas and rent. Wealthier customers have shifted their spending from furniture and other goods to travel and services. Mortgage rates have climbed significantly, cutting into demand for new homes as well (a key demographic for the company).

Overall, Wayfair posted a net loss of $378 million during the quarter. Wayfair’s shares have lost about 70% of their value since the start of the year. The layoffs will cost Wayfair between $30 million to $40 million for employee severance and benefits.

 

WATCH:

For more information visit tylerhayzlett.com