Why Is No One Asking SFB What Happened to the $3.3B He Borrowed?

Post by hungryforcodes » Tue, Dec 06, 2022, 5:30 PM UTC

onlyrealcuzzo wrote: post #21

tom-thistime wrote: post #12

This may be a "culture gap" (or language gap) between crypto and traditional finance. The FT text directly addresses the question that we're told "No one [is] asking." They asked where's the money, and they're exposing the fact that no coherent response has been forthcoming. That's reporting. The likely interpretation of that piece of reporting is crystal clear to the intended readership. (I.e., the money is probably…

The main thing people claim Tether does is: 1. pretend to have customers 2. pretend those customers have deposits 3. issue Tether to front those deposits 4. pump up their favorite coins with their newly minted Tethers My first suspicion would be that FTX was more fraudulent to its investors than people claim. It pretended to have a lot more customers & deposits than it actually did to pump up FTT, to get real money f…

Post by jrmg » Tue, Dec 06, 2022, 5:32 PM UTC

tom-thistime wrote: post #12

This may be a "culture gap" (or language gap) between crypto and traditional finance. The FT text directly addresses the question that we're told "No one [is] asking." They asked where's the money, and they're exposing the fact that no coherent response has been forthcoming. That's reporting. The likely interpretation of that piece of reporting is crystal clear to the intended readership. (I.e., the money is probably…

Post by hungryforcodes » Tue, Dec 06, 2022, 5:34 PM UTC

tom-thistime wrote: post #40

ethanbond wrote: post #37

Earlier quoted context omitted.

Seems to me people have completely unrealistic expectations of how financial crimes play out. This will take years to unwind. Pretty obvious the "why isn't he in jail yet" screaming is coming from the same place as "why aren't I rich yet," on which this entire empire was built. This stuff takes time. He's very obviously going to prison. For context: Enron, whose operations and collapse caused way more negative impact…

It sounds like you probably know what you're talking about. That's going to cost you karma points.

Post by lkrubner » Tue, Dec 06, 2022, 5:35 PM UTC

ethanbond wrote: post #37

mikejulietbravo wrote: post #20

Earlier quoted context omitted.

Correct - the "everyone" is mainly NYT and some politicians. There are some questions there as it's a bit sketchy why they're treating him with such kid gloves.

Seems to me people have completely unrealistic expectations of how financial crimes play out. This will take years to unwind. Pretty obvious the "why isn't he in jail yet" screaming is coming from the same place as "why aren't I rich yet," on which this entire empire was built. This stuff takes time. He's very obviously going to prison. For context: Enron, whose operations and collapse caused way more negative impact…

Post by stonemetal12 » Tue, Dec 06, 2022, 5:40 PM UTC

ethanbond wrote: post #37

mikejulietbravo wrote: post #20

Earlier quoted context omitted.

Correct - the "everyone" is mainly NYT and some politicians. There are some questions there as it's a bit sketchy why they're treating him with such kid gloves.

Seems to me people have completely unrealistic expectations of how financial crimes play out. This will take years to unwind. Pretty obvious the "why isn't he in jail yet" screaming is coming from the same place as "why aren't I rich yet," on which this entire empire was built. This stuff takes time. He's very obviously going to prison. For context: Enron, whose operations and collapse caused way more negative impact…