141–150 of 251 posts
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> most of my friends have increased their twitter usage. it doesn't matter if people use the platform more if they don't pay for the blue check or if advertisers are not interested in paying for ads.
Yes, because marketers don't care about audience size and they have a long history of being strictly moral people.
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> The most interest aspect in the FTX saga, for me, is that SBF was treated very gently by major news outlets (and maybe by government regulators too)... until regular individuals in social media started asking: Why is SBF being treated so kindly? Why would journalists (and regulators) assume that SBF meant well? I went through a few examples people brought up of journalists supposedly treating Bankman-Fried kindly t…
crypto community seems to be trying really hard to deflect from the fallout of yet another major crypto scam For the last few months, any time something bad happens with FTX, there are dozens of people who show up complaining that the media went easy on SBF. They most often use the word "puff" or the phrase "puff piece," as if the comments were all written by the same bot farm. Then when someone calls them out on it,…
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You have it the other way around almost 100%. The reason crypto has the absurd valuations that it does have is entirely because of the centralized exchanges that were offering an easy way for lots of actual money to come into the space (and leave it). As the larger exchanges collapse, it's also clear that many of these prices were simply invented. For example, it's pretty clear that FTX + Alameda alone invented at le…
I think you missed the point parent was making about the fraud of accepting money for $crypto_thing and not actually buying $crypto_thing and just moving the money to the Alameda hedge fund. All of that purchasing never impacted the prices of $crypto_thing.
The other thing that will be interesting is if they uncover fraud around $crypto_things that were supposedly tracking actual SEC regulated securities as a derivative and if any Wall Street finance firms were using those FTX derivatives as part of their business.
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SBF didn’t believe in his effective altruism slogan. He basically admitted in the texts to the reporter he thought would be private that the EA stuff was BS. Also, I’m not sure what you mean by “treated kindly”. If you’re talking about why he wasn’t arrested yet, it’s obvious because the SEC was building its case, and more so because he was voluntarily going on public forums and publicly admitting increasing levels o…
> SBF didn’t believe in his effective altruism slogan. That's not what I meant. What I meant is that before FTX's implosion, anything you would read, hear, or see about SBF would make it seem as if he actually believed in it!
This might just be the 'first arrow' from the SEC with much more to be added down the track, but it's interesting to see that they have gone in heavily on defrauding equity investors in the FTX business -- rather than pulling the rug on customers. Either that's because it's easier for the SEC to prove, and get it to the point of demonstrating fraud? Or the US customers and the FTX US business were relatively untouche…
This might just be the 'first arrow' from the SEC with much more to be added down the track, but it's interesting to see that they have gone in heavily on defrauding equity investors in the FTX business -- rather than pulling the rug on customers. Isn't that the same approach that federal prosecutors took with Theranos as well? From what I understand, Elizabeth Holmes went to jail for defrauding her investors, not pr…
You have to specifically prove every instance fraud in a criminal case, so harm that is spread very widely but very shallowly (millions of people who lost $10) doesn't scale up for a fraud case, but harm that is narrow but deep (an investor who lost millions) can be easily done.
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>like Musk and SBF I‘m sorry, but what ? Just to give some perspective that I don’t think HN really gets: most of my friends have increased their twitter usage. If you aren’t aware, whatever the team did there a few days ago really has appeared to cut bots down to almost 0. SBF is an [alleged] criminal who has [allegedly] defrauded people of billions of dollars, and will likely be spending a substantial amount of tim…
Just for reference what Musk did is just blocked half the mobile carriers in emerging markets, kneecapping their ability to grow Twitter in those countries whilst only temporarily tamping down on bots. The bots will be back, the users won't.
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Imagine reading a document like this with "United States of America v Your Name" at the top. It would be terrifying. These charges are serious and SBF is going to go down for a long time if convicted. There's also a forfeiture section in the federal indictment that demands forfeiture of all any and all property that is traceable to the commission of the offences.
> Imagine reading a document like this with "United States of America v Your Name" at the top. I once contested a traffic violation and the court paperwork stated “People of California vs ”. People of California have lost.
[1] https://en.m.wikipedia.org/wiki/United_States_v._Article_Con...
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I believe the federal criminal indictment is public now. [1] - First count: Conspiracy to commit wire fraud to defraud customers. - Second count: Wire fraud on customers. - Third count: Conspiracy to commit wire fraud on lenders. - Fourth count: Wire fraud on lenders. (again, specifically lenders to Alameda) - Fifth count: Conspiracy to commit commodities fraud. - Sixth count: Conspiracy to commit securities fraud. I…
Imagine reading a document like this with "United States of America v Your Name" at the top. It would be terrifying. These charges are serious and SBF is going to go down for a long time if convicted. There's also a forfeiture section in the federal indictment that demands forfeiture of all any and all property that is traceable to the commission of the offences.
a16z and Sequoia deserve their losses. They both went all-in on this crypto bullshit in their latest funds and convinced otherwise healthy companies to pivot into it also. Their returns for these latest funds will be decimated and I couldn't be happier.