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Why did you trust them in the first place ?
I don't see an implication that this person is personally fucked by FTX/Alameda, just mad that fraudsters are rolling in dough (til they get caught anyway, as they say, high risk high reward)
Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences
11–20 of 255 posts
Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences
#12Extensive previous discussion: https://news.ycombinator.com/item?id=34088840
Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences
#13The 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.
This outcome came about so quickly because she turned state's evidence, in return for what is likely to be an extreme reduction from that maximum (not that it was really a possibility, as a first offender)
Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences
#14I 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.
Didn't Tether get ordered the other day to disclaim all of its reserves? What happened to that? I find it incredible they keep surviving attempts to reveal exactly how the sausage is made in their reserves.
https://www.yahoo.com/video/stablecoin-issuer-tether-ordered...
Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences
#15Earlier quoted context omitted.
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 't…
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Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences
#16She’s the queen of wallstreetbets. I think she’ll hold the yolo record for a long time.
I wish we knew what the fateful market play was that sunk her ship. She mentioned she’s not a fan of stop losses, so I wonder if she went to bed with an open market position and woke up to negative three billion. Also I wonder if the entity on the other side of that trade realized they were making someone insolvent.
It’ll be interesting to see how long she’s sentenced for.
EDIT: Actually, is it possible to see who profited from her trading activity? FTX is in the hands of authorities now, and all the trading took place on it. I wonder if they could claw back some of those lost billions.
Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences
#17The 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.
Howey test classifying some tokens as securities others as commodities I guess?
Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences
#18Earlier quoted context omitted.
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 't…
>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"?
after this history of crypto exchanges thus-far? absolutely.
Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences
#19[flagged]
Why did you trust them in the first place ?
I never trusted any of these cunts. I didn't give them my money because I'm not a fucking idiot. How dare you try to assume I wrote my post out of personal anger. How dare you victim blame me in the face of a robber barons. You are an awful person.
Re: Caroline Ellison, CEO of Alameda Research, pleads guilty to seven offences
#20Earlier quoted context omitted.
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.
This outcome came about so quickly because she turned state's evidence, in return for what is likely to be an extreme reduction from that maximum (not that it was really a possibility, as a first offender)
it's an enormous first offense, though does that matter?