Earlier quoted context omitted.
SBF literally stole billions from a bank account. Not a very subtle crime.
Quoted post unavailable.
The bank has your consent, and brokerages and exchanges are not banks.
SBF Arrested by Bahamian Authorities
411–420 of 886 posts
Re: SBF Arrested by Bahamian Authorities
#412I remember reading here (on a previous article about FTX) a comment that said SBF had friends in the Bahamian government, or something like that, so no way he'd get extradited to the US. I found that... pretty funny... at the time, and seems like I was right. Why would the Bahamian government risk their relations with the US over someone like SBF? Kinda absurd...
In addition, the type of “friends” he had in the government don’t stick around once you stop being worth a billion dollars.
Re: SBF Arrested by Bahamian Authorities
#413Earlier quoted context omitted.
Imagine thinking people actually want self-custody. Look around, people want centralization. The fringes who constantly parrot “not your wallet, not your coins” will forever be in the minority as mom and pop don’t trust themselves to any kind of cold storage. Crypto-obsessed will forever live in this fantasy world.
Okay. People have successfully avoided fraud, theft, and the tyrannical seizure of their assets by arbitrary decisions of arbitrary government officials. Billions of dollars worth of assets are stored on blockchains. Unless you have a mathematical argument against the properties of a blockchain, I will continue to believe the properties are true.
Let's steelman your argument here.
>People have successfully avoided fraud, theft, and the tyrannical seizure of their assets by arbitrary decisions of arbitrary government officials.
Tomorrow morning, the US government announces that any US citizen in possession of cryptocurrency is committing a crime. Using it in a transaction is an even bigger crime.
What happens to the value of crypto?
Your faux-decentralized currency is valuable only inasmuch as it can be used. It is just as much at the mercy of 'arbitrary decisions of arbitrary government 'officials'.
Re: SBF Arrested by Bahamian Authorities
#414Earlier quoted context omitted.
Quoted post unavailable.
The only commonality between those 3 people is that they're Jewish. There are good and bad people from every race and gender. "Russian" in the case you're talking about is not an ethnicity, so it's a false equivalence. I recommend you pull yourself away from the Anti-Semitic Point Of No Return. That way leads to social ostracism, and for no good reason at all. [edit] As I said elsewhere, I stand corrected. I thought…
I'm shadow banned so no harm in this comment, but: I really hope you reflect on this idea of "dog whistle" considering you heard it
Re: SBF Arrested by Bahamian Authorities
#415Earlier quoted context omitted.
Hm... does that mean she gets away scot-free? Not sure that's fair, she seems very complicit.
I haven’t seen any evidence Alameda itself committed any crime, only that they were terrible traders and lost many billions on margin through FTX, who gave them special treatment for collateral. SBF then tried to bail them out with FTX customer funds since he owned both. I think Ellison will get off scot free since she only controlled Alameda, and not entirely. Her crimes are probably minor and worth forgiving for he…
> I haven’t seen any evidence Alameda itself committed any crime
I've seen considerable evidence that the FTX empire, including Alameda, was jointly run by a narrow set of leaders, in which Caroline was #2, not a set of separate, arms length enterprises.
Re: SBF Arrested by Bahamian Authorities
#416Earlier quoted context omitted.
Can you explain what makes this so clear?
It's purely my opinion: She was staying completely silent since the moment FTX collapsed while he was spilling the beans everywhere. She obviously cut a deal while he was parading on social media for god knows what reason instead of shutting his mouth. SBF is a complete moron who didn't understand how the party was already over for him, I put it on his upbringing given the kind of ideology his scholar parents preach…
> while he was parading on social media for god knows what reason instead of shutting his mouth
Matt Levine:
> “Sam Bankman-Fried Should Shut Up, Bernie Madoff’s Lawyer Says,” (...) perhaps it is one more case of us watching in real time as crypto re-learns the lessons of traditional finance. Maybe in six months all the busted crypto leaders will be saying “oh wow we should not have given all those interviews.”
Re: SBF Arrested by Bahamian Authorities
#417Earlier quoted context omitted.
These were all lies, per Ray's house testimony [1]. FTX US had no sound financial controls keeping it isolated from the rest of FTX. [1] https://docs.house.gov/meetings/BA/BA00/20221213/115246/HHRG...
-- my reading of this is only that the business empire as a whole was poorly managed - ftx.us was included in the ftx.com bankruptcy to avoid a run on the bank - if they were trying to avoid a run on the bank - wouldn't it further indicate the ftx.us platform indeed had funds? - most of this document is concerned with ftx.com not ftx.us --
From the article:
> FTX US was not operated independently of FTX.com.
Re: SBF Arrested by Bahamian Authorities
#418Earlier quoted context omitted.
Okay. People have successfully avoided fraud, theft, and the tyrannical seizure of their assets by arbitrary decisions of arbitrary government officials. Billions of dollars worth of assets are stored on blockchains. Unless you have a mathematical argument against the properties of a blockchain, I will continue to believe the properties are true.
> Billions of dollars worth of assets are stored on blockchains. There is no mathematical proof that they will be worth billions of dollars tomorrow. I mean, I would wager if the original Satoshi wallets wake up and start selling Bitcoin this time tomorrow the total market cap can be counted in millions. Sure, maybe mathematically there will never be more than X tokens, but no one cares about that. Everyone at the en…
I agree. What is your point?
Re: SBF Arrested by Bahamian Authorities
#419Earlier quoted context omitted.
SBF literally stole billions from a bank account. Not a very subtle crime.
Quoted post unavailable.
Your deposits in the US banks supposedly insured and guaranteed by the federal government. You have nothing to lose unless the feds are out of funds as well
Re: SBF Arrested by Bahamian Authorities
#420Earlier 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…
What you've described is also consistent with her asking the DOJ for a deal and then being laughed out of the room.