Interesting timing, he was supposed to testify tomorrow before the House, albeit remotely. My understanding was that there were two scheduled hearings, one for the Senate the House, today and tomorrow respectively. You would think the DOJ and congress might communicate on such matters. Why wouldn't the DOJ have waited a couple more days? Flight risk?
SBF Arrested by Bahamian Authorities
181–190 of 886 posts
Re: SBF Arrested by Bahamian Authorities
#182Re: SBF Arrested by Bahamian Authorities
#183Earlier quoted context omitted.
"Kin"? If you mean to be anti-Semitic, you'll find yourself banned from this website.
They are both Ukranian and have intertwined big media backgrounds. Whether they are practicing a religion I don't know. And depending on the part of Ukraine, they are either closer to Polish or Russian (some % Mongolian), despite both countries Slavic. Ukranians calling Russians "orcs" during the war is quite interesting given that we would normally call that moniker racist.
I thought you were anti-Semitic dog-whistling. I stand corrected.
Re: SBF Arrested by Bahamian Authorities
#184Earlier quoted context omitted.
People were mad that he kept getting invitations to speak, but I bet all those interviews and comments show up in evidence.
Don't think people were mad about interviews, in fact there are many questions people expect him to answer. They were mad about puff pieces.
Not true, there were plenty of people on HN that were upset he was being "given a platform".
People think he should be punished by being ignored by the larger publications or something. He was still giving Twitter interviews with lots of popular crypto people all the time so I doubt it would have done anything.
Re: SBF Arrested by Bahamian Authorities
#185Earlier quoted context omitted.
Yeah but that was a very shitty prediction. It appears the charges filed were by SDNY which if anything is known for being anti-Trump. Essentially a bunch of democrat appointed attorneys arrested him.
Not only shitty, but opposite of how you'd expect. When a high-profile donor does a high-profile crime—and when they're certainly not going to be a fundraiser in the future—the recipient of those donations has a lot of motivation to distance themselves from the fraudster, to be harsher in their actions, to respond to pressure and sever any perceived ties.
This is a cogent point. Sometimes people see political donations as a suicide pact and they most definitely are not. A politician's deference to a donor is a function of the probability of future donations from them. If that probably drops to zero their deference drops to zero. A donor is only as good as their next donation.
This is true on all sides of the aisle. If SBF hadn't tried to speed run every crypto-scam he might have some political connections left. But he's not just persona non-grata, he's broke. He doesn't have much to offer politicians at this point except testifying against co-conspirators (should there be any).
Re: SBF Arrested by Bahamian Authorities
#186Earlier quoted context omitted.
Can you show an example of one article that is a puff piece?
Oh please, just watch the NYT interview with him. It takes the definition of a puff piece to new heights: https://www.youtube.com/watch?v=IyoGdwVIwWw
They ask about the real estate purchases, they ask about the transfers, they ask about conflicts of interest and criminal liability. How can a live unedited interview with those questions be a puff piece?
Re: SBF Arrested by Bahamian Authorities
#187Earlier quoted context omitted.
1. Someone took a picture of her in a coffee shop down the street from the Manhattan FBI/US attorney office a few weeks ago (last week?). She is supposed to be in Hong Kong as that is where she was based. 2. BBG news article recently speculated some hot-shot lawyers have begun representing Caroline.
She was spotted in NYC with another Alameda employee too. Maybe the Alameda execs are trying to say they just made irresponsible gambles (like a shitty Wall St investor) but SBF is the one who secretly covered the massive losses with FTX customer assets without telling the public and was responsible for the "dual accounting" issue where deposits were counted twice. Among all the other things that they did wrong. Or m…
"Unctuous Altruism"
Re: SBF Arrested by Bahamian Authorities
#188Hopefully we will see this as a powerful turning point, heralding an end to cryptocurrency, with all its false promises of financial utopia. Turns out it was nothing more than a series of scams, and the ensuing court cases will prove this beyond a shadow of a doubt. This entire edifice will come crumbling down, and take this entire sordid industry with it. One can hope.
> false promises
I hear your anger, but consider that this is the one financial system where self-custody is an an actual workable option. You can't store 100M USD under a mattress. You can't deploy large amounts of cash without permission from governments. In the US, banks have to report transactions over $600 to the IRS.
That said, use Monero. It's the only one of these things that protects privacy.
Re: SBF Arrested by Bahamian Authorities
#189Much sooner than I expected. Figured it'd be a couple of years before the AG was secure enough in their case to bring charges. This is MUCH faster than Madoff or Holmes. Then again, he's been much more out in the open about everything. He pretty much laid the prosecution's case out to the public for them.
It's clear Caroline Ellison has turned against him. Stephanie Avakian, former SEC enforcement chief, is representing her in NY. I'm guessing they wouldn't have been able to file charges this quickly without Caroline becoming a cooperating witness.
She is also VERY well connected to the SEC. It wouldn't surprise me if they gave her a sweetheart deal.
Re: SBF Arrested by Bahamian Authorities
#190Much sooner than I expected. Figured it'd be a couple of years before the AG was secure enough in their case to bring charges. This is MUCH faster than Madoff or Holmes. Then again, he's been much more out in the open about everything. He pretty much laid the prosecution's case out to the public for them.
How is it faster than Madoff? And it's far more complex than Holmes.
Is it though? I mean his org structure and stuff is complex but it feels surface deep. It’s a classic Ponzi scheme and plain of theft.
With Holmes the prosecution probably had to do a hell of a lot of legwork to prove crap like intent, damage, etc.
I dunno. Wonder what other people think.