So now I’m wondering who else will SBF take down with him. There is a pretty good chance he has knowledge of similar situations in Binance or Tether. This should be an interesting trial.
SBF Arrested by Bahamian Authorities
481–490 of 886 posts
Re: SBF Arrested by Bahamian Authorities
#482I find it interesting that this legal letter used the initials SBF.
Re: SBF Arrested by Bahamian Authorities
#483Earlier quoted context omitted.
The bank has your consent, and brokerages and exchanges are not banks.
No, they don't have my consent. I'm forced to use banks because the government won't protect me from criminals if I shove cash under my mattresses. The banks don't offer an "opt-out" option when you register. Real consent means you offer "yes" and "no" and the other party says yes. It's effectively forced upon me.
"I'm forced to use banks because the government won't protect me from criminals if I shove cash under my mattresses." Oh please.
The irony of your ill-informed statement is that if you want to put your money in places where it can't be loaned out to others without your consent, where you should really put it is a brokerage - at least, one in the US, where there are regulations ensuring your funds can't be loaned without your consent, and your assets are protected by SIPC insurance.
Re: SBF Arrested by Bahamian Authorities
#484Earlier quoted context omitted.
He is a much bigger "prize" for the prosecution. She had low profile and not all that well known to the electorate. Plus, prosecuting her may not even look all that good, for identity politics reasons. If she cooperated first, there is a good chance of immunity or very low sentence.
> Plus, prosecuting her may not even look all that good, for identity politics reasons. Strongly disagree with this. Look at how they threw the book at Elizabeth Holmes (vs, say, Adam Neumann, or any other male founder from the last decade plus). If anything women have been getting it harder.
>vs, say, Adam Neumann
I can't think of a reason offhand to compare her to Neumann and not Sunny Balwani.
Can you explain further?
Re: SBF Arrested by Bahamian Authorities
#485Earlier quoted context omitted.
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.
Poor guy didn't read about Adam and Eve.
That’s because he refused to read
Re: SBF Arrested by Bahamian Authorities
#486Earlier quoted context omitted.
Well…: “SBF was the second-largest Democratic donor during the last election cycle, and he told Fong he gave about the same amount to Republicans. ” https://fortune.com/crypto/2022/11/29/sam-bankman-fried-poli...
The HN commenters in question were universally saying that he made up the donations to Republicans to cover up his more extensive connections to Democrats.
To their credit there is no evidence to the contrary.
Re: SBF Arrested by Bahamian Authorities
#487Earlier quoted context omitted.
It is specified in the document that they will extradite him to the US
Can they simultaneously criminally charge him and force him to testify before Congress without violating his 5th amendment rights? I think getting charged criminally does get him out of having to testify to Congress, or at least it should.
Back in the 80s... https://www.latimes.com/archives/la-xpm-1986-12-02-mn-916-st...
> North Takes Fifth Amendment in Testimony to Senate Panel : Claimed Protection at Least 40 Times, One Source Says
> WASHINGTON — Congressional sources said today that fired National Security Council aide Lt. Col. Oliver L. North took the Fifth Amendment during his testimony Monday before the Senate Intelligence Committee.
> One source, who, like the others demanded anonymity, said North took the Fifth Amendment at least 40 times. Another source said he declined to answer a number of questions put to him by senators and committee staff members.
> Asked about an apparent contradiction between Sen. Dave Durenberger’s contention that witnesses had been candid and the report that North refused to answer many questions, committee spokesman Dave Holliday said he would make no attempt to clear it up.
---
NORTH SAID TO USE FIFTH AMENDMENT - https://www.nytimes.com/1986/12/02/world/north-said-to-use-f...
> ...
> The Fifth Amendment protects an individual in any proceeding from being required to give testimony that he feels may incriminate him. Invoking it carries no implication of guilt.
> Senator David Durenberger, Republican of Minnesota, who is chairman of the Select Committee on Intelligence, likened the proceedings before the panel to a grand jury investigation. He said witnesses were testifying under oath.
Re: SBF Arrested by Bahamian Authorities
#488Earlier quoted context omitted.
Well…: “SBF was the second-largest Democratic donor during the last election cycle, and he told Fong he gave about the same amount to Republicans. ” https://fortune.com/crypto/2022/11/29/sam-bankman-fried-poli...
A guy who quite likely stole billions of dollars can't prove he donated money to Republicans and we should just trust him?
They are public record.
Re: SBF Arrested by Bahamian Authorities
#489Earlier quoted context omitted.
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.
OK sure so the FDIC can just insure FTX then. 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.
Insure what, exactly? Insure peoples imaginary crypto coins? Insure deposits into a brokerage account? Did FTX sweep brokerage accounts into a valid, insurable class? You're missing a ton here, buddy
Re: SBF Arrested by Bahamian Authorities
#490Earlier quoted context omitted.
Well…: “SBF was the second-largest Democratic donor during the last election cycle, and he told Fong he gave about the same amount to Republicans. ” https://fortune.com/crypto/2022/11/29/sam-bankman-fried-poli...
The HN commenters in question were universally saying that he made up the donations to Republicans to cover up his more extensive connections to Democrats.
I'm sorry, but pretty sure they are public record.