41–50 of 327 posts
Anyone who withdrew money from Celsius in the 90 days leading up to the bankruptcy can be ordered by the judge to put it back in, and that timeline is extended to 1 year for insiders. [1]
A bunch of the folks who thought they got out of Madoff's fund learned that lesson last time.
[1] https://www.lowenstein.com/media/3095/beware-of-bankruptcy-c...
Earlier quoted context omitted.
It's as "funny money" as any other security. Just because you feel they may be "funnier" doesn't affect the laws around selling and trading securities.
Your post is based on an assumption --- that crypto is legally defined as a "security". Do you have any reference to support this? If this is true, then the crypto market is subject to existing security laws. And government needs to launch an extensive investigation of crypto exchanges who have been operating without the required authorization or oversight. As I said, this cuts to the very core of the crypto market.
Crypto is pretty much speed running our existing financial institutions’ past history.
Earlier quoted context omitted.
It's as "funny money" as any other security. Just because you feel they may be "funnier" doesn't affect the laws around selling and trading securities.
Your post is based on an assumption --- that crypto is legally defined as a "security". Do you have any reference to support this? If this is true, then the crypto market is subject to existing security laws. And government needs to launch an extensive investigation of crypto exchanges who have been operating without the required authorization or oversight. As I said, this cuts to the very core of the crypto market.
People surprised by this might be the sort of people who try to cuddle a porcupine and are surprised when they get stabbed. That said, we have laws designed to protect stupid people from those who prey on the stupid, so I hope these execs get the book thrown at them.
Oh hey look the consequences of a monetary system that isn't backed by a legal system (that is backed up by people with guns). The reason fiat money works is because at the end of the day if you run into trouble you have the legal system to make things right. And if the perpetrator of the crime doesn't listen to the legal system, there are people with guns/violence to back that up. That's why the whole system works -…
Oh hey look the consequences of a monetary system that isn't backed by a legal system (that is backed up by people with guns). The reason fiat money works is because at the end of the day if you run into trouble you have the legal system to make things right. And if the perpetrator of the crime doesn't listen to the legal system, there are people with guns/violence to back that up. That's why the whole system works -…
The idea that the traditional legal system prevents funny business with money is naive.
9/10/2001: Rumsfeld says $2.3 TRILLION Missing from Pentagon https://www.youtube.com/watch?v=xU4GdHLUHwU
The Pentagon’s $35 Trillion Accounting Black Hole https://www.yahoo.com/video/pentagon-35-trillion-accounting-... https://www.bloomberg.com/news/articles/2020-01-22/pentagon-...
Pentagon's Defense Logistics Agency loses track of $800m https://www.bbc.com/news/world-us-canada-42954050
The irony of the CEO’s t-shirt in that photo is… staggering.