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

Post by Lapsa » Fri, Dec 23, 2022, 10:37 PM UTC

baobabKoodaa wrote: post #29

sillysaurusx wrote: post #16

She’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 inter…

> She mentioned she’s not a fan of stop losses At the volume they were trading, stop losses are no longer practical. The market is not infinitely deep.

Post by jacquesm » Fri, Dec 23, 2022, 10:37 PM UTC

sillysaurusx wrote: post #38

jacquesm wrote: post #30

Earlier quoted context omitted.

I think you are assuming way too much here. She's not the queen of anything, she's a fraudster that will spend a long time in jail and that has probably much less understanding of the mechanisms involved than you give her credit for. If she did she wouldn't be in the position she's in. The last thing we really need is for people to start lionizing her.

But she’s highly regarded! It’s all just a little joke. Check out https://www.reddit.com/r/wallstreetbets . Also https://m.youtube.com/watch?v=jg85H26wyLk She certainly earned her sentence, and I have no sympathy for her. But isn’t it hard not to be at least a little impressed with the sheer scale of her losses? Getting in the record books for “most money lost by a single individual” is a hard thing to do in general.

Post by dclusin » Fri, Dec 23, 2022, 10:38 PM UTC

listenallyall wrote: post #13

berkle4455 wrote: post #9

Earlier 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)

Post by richbell » Fri, Dec 23, 2022, 10:39 PM UTC

maria2 wrote: post #31

danrocks wrote: post #14

Earlier quoted context omitted.

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...

It seems like they were ordered to give the plaintiffs the documents, but they weren’t ordered to publicly release them. NYAG also looked into them last year. They were fined but it doesn’t seem like anything else came of it. > The New York Attorney General’s probe into Tether’s reserves concluded in February 2021 with an $18.5 million settlement. I don’t hold any tether, and I wouldn’t recommend it to others. But th…

Post by PeterisP » Fri, Dec 23, 2022, 10:39 PM UTC

maria2 wrote: post #31

danrocks wrote: post #14

Earlier quoted context omitted.

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...

It seems like they were ordered to give the plaintiffs the documents, but they weren’t ordered to publicly release them. NYAG also looked into them last year. They were fined but it doesn’t seem like anything else came of it. > The New York Attorney General’s probe into Tether’s reserves concluded in February 2021 with an $18.5 million settlement. I don’t hold any tether, and I wouldn’t recommend it to others. But th…