401–410 of 498 posts
> plead guilty to violating criminal U.S. anti-money-laundering requirements This has nothing to do with crypto. What forces him to comply with supposedly US dictatorship? Apparently this was a move against Iran and maybe Russia.
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A lot of the inflation seen in the U.S. is corporate profit-taking such as when the automakers used the chip shortages to steer buyers towards the highest-end models they prioritized for production while less profitable models were back ordered. That matters because cryptocurrencies don’t help at all with the inflation consumers are seeing, while adding more personal risk and an exchange rate to arbitrage.
That's not how inflation works.
CZ saw the immolation of SBF and probably decided it'd be a bad move to do anything other than whatever his lawyers told him to.
CZ is much smarter, he didn't have any number 2s that could testify against him, and had already moved to a non-extradition country years ago. SBF thought he was cleverer than everybody and testified himself straight into a 8x10 cell for the foreseeable future.
He's essentially getting off with a slap on the wrist, 50m is nothing given his wealth. The fines against the company are also a pittance compared to Binance's annual revenue.
The moral for white collar criminals is: if you get caught, just cooperate and pay up, and live up crime another day. The cost of the fines is trivial.
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What you've suggested is not a positive use case at all but sure it's perfect for criminals. Great job.
Any authoritarian state will label dissidents as "criminals". If you want to flee Russia or Venezuela today without forfeiting all your property, crypto can come in handy. This is very much a positive use case if you value individual freedom. Remember that any wall and border has 2 sides.
I can only name 1 person who is in this position you describe yet they are not fleeing Russia any time soon.
So according to your logic the North Korean hackers who borrowed $2BN in crypto are not criminals in North Korea's eyes despite the US government calling them criminals?
You might want to come with real world examples with a larger impact instead of tiny selective scenarios where almost nobody other than that 1 person would get themselves into.
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He annoyed politicians. Free country, huh?
If by "annoyed politicians" you mean "bait and switched AIDS patients".
But he would do livestreams where he said anyone without insurance or that had insurance that wouldn’t cover it could DM him and he would take care of it for them. One of my online friends was able to get the medication this way.
SBF decided to testify against CZ to try to save his own ass, giving justice dept and sec something to fine CZ with. Govt collects a big crypto fine, fine makes the big losers in FTX whole, problem solved. CZ should have just bought FTX and closed the deal and made people whole, woulda saved himself some drama.
Pretty great example of Hacker News when the top comment is "They should have done more crime but in a different way."
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He annoyed politicians. Free country, huh?
If by "annoyed politicians" you mean "bait and switched AIDS patients".
https://web.archive.org/web/20170710014221/https://www.washi...
SBF decided to testify against CZ to try to save his own ass, giving justice dept and sec something to fine CZ with. Govt collects a big crypto fine, fine makes the big losers in FTX whole, problem solved. CZ should have just bought FTX and closed the deal and made people whole, woulda saved himself some drama.
Pretty great example of Hacker News when the top comment is "They should have done more crime but in a different way."
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I believe Martin Shkrelli would disagree I think that (sadly) the key distinction in the American justice system has to do with how easily it is to justify your prosecution to the public. If you're wildly popular, you're probably able to get away with quite a lot. If you're wildly unpopular, it's probably pretty easy to get a conviction on any number of things.
define justice... Justice, in its broadest sense, is the concept that individuals are to be treated in a manner that is equitable and fair. A society in which justice has been achieved would be one in which individuals receive what they "deserve" So, what do they deserve? It's up to a panel of peers to determine. Peers, mind you, that are representative of the society you live in. So in a sense, public outcry and cou…