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Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences

theguardian.com

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Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences

#3

Post by klipt »

I wonder if something similar will eventually happen to the Tether people? To my understanding they're printing money (USDT) which they claim is backed 1:1 by USD but really isn't. These USDTs can then be spent to pump up various other crypto assets. Seems a very shady business.

Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences

#9

Post by berkle4455 »

andersonmvd wrote: post #4

The 7 offences are not detailed individually in the news, or I couldn't find it.

Two counts of wire fraud, two counts of conspiracy to commit wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering.

Maximum sentence of 110 years.

Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences

#10

Post by danrocks »

ttoinou wrote: post #6
MarcelOlsz wrote: post #2

[flagged]

Why did you trust them in the first place ?

How could he not trust them in the first place? C-level executives are on the record, before Congress, with the biggest and brightest politicians around, saying everything should be regulated, including themselves. They're actively projecting that they acknowledge the general sleaze surrounding the crypto industry and they are not a part of it.

Hindsight is 20/20, but can you look at Binance, crypto.com, and other 'trusted' crypto exchanges now and say "how can you trust them"?

SBF was hanging out with people who lent him their credibility and actively asking to be regulated - it doesn't get much better than that for the average person.

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