71–80 of 890 posts
This is an unreal speedrun nightmare timeline. At this rate I am half expecting to wake up to news tomorrow that SBF is dead.
He'll probably play a Leauge of Legends match before though.
Earlier quoted context omitted.
Thanks! Wow even better than I recalled To be fair there’s something to that idea. Market returns about 7% on average. Over six years that would be an opportunity cost of 50%. But, as you say there’s got to be some loss for choosing to put one’s money with a con artist I doubt there will be a crypto bailout as it seemingly didn’t get big enough to blow up anything outside itself. It also had an anti public relations…
I've been around the block a few times, and I've had people over the years tell me about an "investment" or a fund, or their brother-in-law who could get me 15% or more on my money. And every time I've been smart enough to say "no thanks." I must admit, I don't have a lot of sympathy for Madoff's victims. Especially the charities! If I donate money to a charity, I'd expect the money to go to help people or to further…
> In 1992, Bernard Madoff explained his purported strategy to The Wall Street Journal. He said his returns were really nothing special, given that the Standard & Poors 500-stock index generated an average annual return of 16.3% between November 1982 and November 1992. "I would be surprised if anybody thought that matching the S&P over 10 years was anything outstanding." The majority of money managers actually trailed the S&P 500 during the 1980s.
From https://en.m.wikipedia.org/wiki/Madoff_investment_scandal
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Bahamas has an extradition treaty with the US. If SBF doesn’t flee he will definitely get indicted in US court
I don’t think SBF would be dumb enough to steal $400m right now when the whole world is watching his every move.
It's wild to me that he hasn't simply had a heart attack and died from the insanity of his actions and the consequences of it all. Imagine throwing a life like that and he's barely turned 30. Hubris and foolishness can lead to one's own grave. edit: I'm not wishing for his death. That's not what my comment was about. More on the psychological impact of deception at this magnitude and could any person cope with that.
It's been stated that FTX can access the wallets of their customers [1], I wonder if employees or other bad actors knowing the ship is sinking have decided to - forgive me for the quip - plunder any remaining assets. 1: https://www.coindesk.com/policy/2022/11/10/ftx-violated-its-...
Earlier quoted context omitted.
Bahamas has an extradition treaty with the US. If SBF doesn’t flee he will definitely get indicted in US court
I don’t think SBF would be dumb enough to steal $400m right now when the whole world is watching his every move.
> Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges - unclear facts as other movements not clear. Will share more info as soon as we have it. From FTX's general counsel[1], retweeted by FTX_Official. So that indicates it's not being sold off legitimately under some sort of liquidation proceedings. It could be insiders or it could be hackers. [1] https://twitte…
> Reports on crypto Twitter are that this is a hack It's really unfortunate to get "hacked" with such bad timing. You steal customer money and file for bankruptcy but now the bad hackers, probably from the Bahamas as well, take whatever is left and cash out. Oh no! /s But it's alright, SBF said he's sorry.
this person absolutely knows that they can kick leadership when they're down and that all blame will go to the leadership
it doesn't require being an "apologist" for leadership to see this vulnerability. Council and compliance all resigned, the ceo resigned. Any semblance of checks are gone and any rogue developer can use their keys on anything, rumor now is that an app update went out turning them into malware.
its equally as plausible as just a cringeworthy vendetta of spiraling founders, dumber things have happened in crypto. smart things have too, I’m leaving towards a smart thing
If I was smart, I too would be ripping off all of the cryptobros.
Instead I dumb and do honest work.
It's wild to me that he hasn't simply had a heart attack and died from the insanity of his actions and the consequences of it all. Imagine throwing a life like that and he's barely turned 30. Hubris and foolishness can lead to one's own grave. edit: I'm not wishing for his death. That's not what my comment was about. More on the psychological impact of deception at this magnitude and could any person cope with that.