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Hm... does that mean she gets away scot-free? Not sure that's fair, she seems very complicit.
Cooperating with investigators is a good thing, and we should (to an extent) reward it.
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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. Nah. As FTT and FTX shows, the marketcap for blockchain tokens means nothing.
I don't see what your point is.
Alright, well, now that that's done - let's go find all those people in the past threads who were saying things like SBF will never be arrested.
I remember a lot of people strongly believed that SBF would never get in trouble because he was a Democratic donor, and that this was all part of some vast corruption scandal. It turns out not everything is a conspiracy.
Even with all the corruption, sometimes the optics are a bridge too far, even for the connected.
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I'm sure SBF has plenty of dirt on her as well, and he'll start talking much sooner than anticipated. She will go to jail, definitely.
Depends how much they needed her cooperation, which will determine how much of a deal she got, if any. If they wanted her cooperation, but didn't absolutely need it, they may have struck a cooperation deal in which she still sees some prison time, but a lot less than she would have after a full prosecution. My gut says that because he was so sloppy in implicating himself, that DOJ may not have strictly needed her, an…
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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 cur…
How do you think any of these companies and protocols even exist? They sure as hell don't have enough regulatory clarity to be confident they can operate as US entities right now. Vast majority of true defi protocols were funded by companies formed outside the US because the country has essentially criminalized it by refusing to put into law what you need to do to be compliant.
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As others have mentioned, there is circumstantial evidence in that she was photoographed recently at a Lower Manhattan Starbucks quite close to the Southern District of New York (who would handle any Federal prosectuion like this as it realtes to securities fraud). But you have to look at the larger picture: The Federal prosectuion conviction rate is 95%. The Federal government is very good at getting prosectuions in…
A necessary conceit of the prisoner's dilemma is that they can't communicate, and therefore can't strategize together so that doesn't exactly apply here. It's just self preservation.
Consider the payoff matrix in this example, somewhat analogous to the case we're describing:
- Both defect -> both go to prison for life
- One defects, one cooperates -> the cooperating one goes to prison for life; the defector gets some minor punishment and otherwise goes free.
- Both cooperate -> both go free for a moment, spend some months or maybe even a few years living in fear, then with 95% chance go to prison for life. That's because the whole deal is about saving work for the Feds, but they will put in that work if needed, and come back with bullet-proof case.
There's hardly anything they can do to meaningfully increase their chances of surviving the "both cooperate" option, so the two prisoners will both try to defect.
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FTX is a brokerage not a bank. Furthermore, banks have strict regulations on the kinds of loans they are allowed to give. Also, bank accounts are secured by FDIC.
Other brokerages lend out their spare cash without your consent, too.
It's not really any different other than that law has (rather arbitrarily) decided to protect one and not the other.