Any ideas why these prosecutions are moving forward so fast? Usually this stuff takes forever as evidence is carefully gathered. Curious if anyone has any insights here.
Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
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Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#42SEC Complaint with more details. https://www.sec.gov/news/press-release/2022-234 I have read more SEC complaints this year than in all of my previous years combined. —- Edit 1 Caroline’s guilty plea: https://www.documentcloud.org/documents/23495436-crypto-coop...
110 years! I wonder how many she'll get out of that for being the first out of the woodwork.
My guess is she will get 10. 30 for the crimes, less 10 for being a first time offender and not the ring leader and less 10 for cooperation and contrition.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#43> Both were involved in effective altruism — a community focused on using data to maximize the long-term impact of charitable donations. > She got into crypto, she explained on another episode, because she was hoping to make lots of money to give away as part of her commitment to effective altruism. Should the term be capitalized, as Effective Altruism ? It seems to be a new, branded definition, and not in common usa…
Capitalized, yes. It should also have air quotes.
"Effective Altruism" is more appropriate in this case.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#44Earlier quoted context omitted.
Kind of. One-coin fits your description better.
SBF would have scammed with anything instrument, only the media and gov wants you to believe it had anything to do with crypto
If people will run scams in crypto the same as they'll run scams in tradfi - shouldn't they be regulated the same, too?
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#45Nothing here happened on a blockchain. If it had there wouldn't have been problems. This is a typical finance market scam.
Exactly, crypto was only peripherally related to the legacy financial fraud. But everyone, including this site, wants you to think this was a, "crypto bro's" scam, SBF was NOT a crypto bro, he was a rich kid.
What disqualifies him as being cryptobro?
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#46> Both were involved in effective altruism — a community focused on using data to maximize the long-term impact of charitable donations. > She got into crypto, she explained on another episode, because she was hoping to make lots of money to give away as part of her commitment to effective altruism. Should the term be capitalized, as Effective Altruism ? It seems to be a new, branded definition, and not in common usa…
Basically, it seems that earn to give isnt the best way. Billionaires like Jeff Bezos got that way by building a very successful organization that helps a lot of consumers (being able to do so thanks yo wage slavery until automation started kicking in). Since then, it has grown a lot and Bezos has to do nothing to reap the benefits but keep his shares. But just because Bezos built one great thing that helps so many c…
There are no such things as benevolent billionaires.
There’s a problem with a society that enables billionaires to exist at all. It shouldn’t even be possible but we’re here for a lot of reasons.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#47Any ideas why these prosecutions are moving forward so fast? Usually this stuff takes forever as evidence is carefully gathered. Curious if anyone has any insights here.
I'm going to guess plea deals.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#48In previous discussions, I said there was a 0% chance she got some sort of deal. I was downvoted to hell, but this guilty plea shows how it works in real life, not TV. The deal is you cooperate voluntarily and the court is allowed to provide sentencing leniency. The only thing she gets is the prosecution agrees to tell the court she cooperated.
Why is she's out on bail if she has already plead guilty? What's the next step for her?
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#49In previous discussions, I said there was a 0% chance she got some sort of deal. I was downvoted to hell, but this guilty plea shows how it works in real life, not TV. The deal is you cooperate voluntarily and the court is allowed to provide sentencing leniency. The only thing she gets is the prosecution agrees to tell the court she cooperated.
> The only thing she gets is the prosecution agrees to tell the court she cooperated. That is the deal. It's a cooperating plea deal; prosecutors will accept a much smaller sentence (out of the very wide ranges available) if they follow through on the coperating part.
Exactly. People were throwing out potential immunity, or other complete nonsense for cooperation. There weren’t even discussions about recommended prison time as that can blow the prosecutions case against SBF. The idea that there is some agreement for say 5 years recommended is not on the table in this type of situation.
Re: Caroline Ellison and Gary Wang are cooperating in the criminal case against SBF
#50Any ideas why these prosecutions are moving forward so fast? Usually this stuff takes forever as evidence is carefully gathered. Curious if anyone has any insights here.
Likely the prosecution's case is strong, e.g. there is a hard-to-disguise paper trail that clearly implicates these first cooperators.