SEC Charges Hex Founder Richard Heart with Misappropriating Millions of Dollars

Post by colecut » Mon, Jul 31, 2023, 5:23 PM UTC

latchkey wrote: post #45

Retric wrote: post #40

Earlier quoted context omitted.

There’s a fair amount of liquidity, but trying to withdraw 1 billion in Eth is going to impact it’s valuation.

ETH has a $223b market cap, so 1b is .45%.

Post by bhouston » Mon, Jul 31, 2023, 5:25 PM UTC

sergiotapia wrote: post #48

[flagged]

  Although federal election receipts show that Bankman-Fried donated almost exclusively to Democrats, he claimed on a November phone call with YouTuber Tiffany Fong that he donated an equal amount to Republicans and Democrats.

  “All my Republican donations were dark,” he said, referring to political donations that are not publicly disclosed in FEC filings. “The reason was not for regulatory reasons, it’s because reporters freak the f—k out if you donate to Republicans. They’re all super liberal, and I didn’t want to have that fight.”

  Given that he donated nearly $40 million to Democrats in the 2022 election cycle—and he admitted to giving an equal amount to Republicans—his total political contributions may have actually been around $80 million.

Post by sergiotapia » Mon, Jul 31, 2023, 5:32 PM UTC

bhouston wrote: post #54

sergiotapia wrote: post #48

[flagged]

That didn't seem to help SBF though - he is still arrested and bring prosecuted for his financial crimes. Also SBF contributed to both D and R equally apparently - but he did his R contributions dark to avoid scrutiny, but is that claim of his true? I don't know: Although federal election receipts show that Bankman-Fried donated almost exclusively to Democrats, he claimed on a November phone call with YouTuber Tiffan…

Post by kyleblarson » Mon, Jul 31, 2023, 5:40 PM UTC

delusional wrote: post #32

boeingUH60 wrote: post #3

He raised over $1 billion?!…there was really too much money floating around begging for where to invest circa 2020. The same goes for many questionable startups that raised money. Notice how these schemes have disappeared in tough times.

$1 billion in crypto, so not real money. $1 billion on IOU's from some other ponzi scheme. Right after it states that they're also charged "misappropriating at least $12 million of offering proceeds" which seems like a more reasonable figure. They probably stole in the order of $12-20 million.

Post by pessimizer » Mon, Jul 31, 2023, 5:47 PM UTC

bhouston wrote: post #57

sergiotapia wrote: post #56

Earlier quoted context omitted.

Please ;) "Federal prosecutors are dropping campaign finance violation charges" "Bankman-Fried — who is accused of stealing from customers of his now-defunct FTX cryptocurrency exchange — still faces 12 other charges in the case, though five more of the counts are still in question" https://nypost.com/2023/07/27/feds-drop-one-charge-against-s...

The reason is because the extradition agreement didn't mention those charges, which is a technicality unfortunately. He is still be prosecuted for his financial crimes.