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SBF Arrested by Bahamian Authorities

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Re: SBF Arrested by Bahamian Authorities

#571

Post by eternalban »

koolba wrote: post #286
rjbwork wrote: post #4

Much 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.

After adjusting my tinfoil hat, I can only conclude this is to preclude any direct testimony tomorrow. If he’s going to talk to the US authorities, the Bahamians are going to be the mediator.

Regardless of what it the actual reason for the strangely timed arrest in Bahamas, he can now take the 5th for any future committee hearing and it would be perfectly normal for someone who is under indictment.

This guy had a big mouth and poor motor control over his tongue. Who knew what he would spew? Maxine is relieved, is my opinion.

https://www.pointoforder.com/2013/05/22/taking-the-fifth-bef...

Re: SBF Arrested by Bahamian Authorities

#572

Post by Tao3300 »

jasonhansel wrote: post #261
johnfn wrote: post #15

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.

Fox et al trying to paint this as a Democratic conspiracy is how I know crypto's days are numbered.

Re: SBF Arrested by Bahamian Authorities

#573

Post by 7373737373 »

boplicity wrote: post #493
trompetenaccoun wrote: post #345

Earlier quoted context omitted.

A lot of the money that was lost came from institutions and some public funds as well. Ontario Teachers’ Pension Plan, BlackRock, Circle, Sequoia Capital, Binance, SoftBank,... SBF is a crazy character, he somehow must have thought he was above it all. If he'd done what all these finance companies do, scamming the little man, he'd probably still be free. Alex Mashinsky yet has to be arrested for example. And people l…

Don't feel bad for Blackrock/Sequoia/Softbank etc. These are professional investors, yet they invested in a finance company that didn't even have proper financial sheets. To let that slide is pure negligence, and, frankly, should put them on the hook for the monetary loss from the FTX customers.

How could these institutions be so negligient?

Re: SBF Arrested by Bahamian Authorities

#574

Post by Zircom »

piyh wrote: post #532
yucky wrote: post #500

Earlier quoted context omitted.

93% of prisoners are men[1], so it's pretty common that women do not face justice. [1] https://www.bop.gov/about/statistics/statistics_inmate_gende...

Most crime is committed by men too

Most crime that we have records for to use for studies is committed by men you mean. Who is to say how much crime by women goes unreported and uninvestigated, and therefore has no presence in our statistics.

Re: SBF Arrested by Bahamian Authorities

#575

Post by fineIllregister »

jasonlotito wrote: post #488
_-david-_ wrote: post #475

Earlier quoted context omitted.

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.

SBF's claim is that the Republican donations were "dark", meaning is funneled through super PACs. These are famously not public record. He states he did this to hide them from the media.

Re: SBF Arrested by Bahamian Authorities

#576

Post by jasonhansel »

PragmaticPulp wrote: post #448
jasonhansel wrote: post #261

Earlier quoted context omitted.

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.

The new conspiracy is that SBF was arrested to prevent him from spilling the beans on something during his PR tour. It doesn't make any sense, but the conspiracy people are experts at mental gymnastics.

Ah yes, because if there's anything we know about SBF, it's that he's trying to tell us the truth.

Re: SBF Arrested by Bahamian Authorities

#577

Post by justinzollars »

rjbwork wrote: post #4

Much 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.

> This is MUCH faster than Madoff

Madoff was less than 11 days after discovery of his fraud:

https://www.theguardian.com/business/2009/mar/12/bernard-mad...

Re: SBF Arrested by Bahamian Authorities

#578

Post by siftrics »

polygamous_bat wrote: post #553
siftrics wrote: post #431

Earlier quoted context omitted.

Never argued blockchains should fully replace traditional finance. Banks are extremely valuable to me and probably always will be. Blockchains have certain properties which make them extremely desirable in a specific set of use-cases. That set was greatly exaggerated by ignorance and insanity in the bull market. Still, the true set is nonzero. Stop being an ideologue. It spreads ignorance.

You did not answer my earlier question, only latched on to a throwaway line at the end. Do you verify code of everything on a Blockchain you interact with, and maintain that everyone who interacts with the Blockchain should verify these "mathematical properties" themselves?

Yes, I do not hold assets in contracts which I have not personally verified.

Yes, I strongly recommend everyone do the same.

If it's a "yield vault" or an "LP pool" then you really truly should read every line of code and understand all the risks, because it is extremely likely that there is some catastrophic exploit, given the current near non-existent scaffolding regarding formal verification of smart contracts.

Re: SBF Arrested by Bahamian Authorities

#579

Post by zzleeper »

macintux wrote: post #540
zztop44 wrote: post #512

Earlier quoted context omitted.

Just rent a deposit box at the bank and put your cash there. They won’t touch it. Just like having it under your mattress but probably safer from criminals.

A) Banks seem to be getting out of the business of hosting deposit boxes. I’d guess it’s not worth the hassle and liability. B) I don’t know about all of them, but the ones I’ve used have explicit rules against storing cash.

Would a so-called cbdc work? Get a bank account at the Fed that only gives you overnight rates (i.e. low but still higher than banks!), and only risk is sovereign risk.

Akin to the narrow banks proposals of a few years ago

Re: SBF Arrested by Bahamian Authorities

#580

Post by gjvc »

cowuser666 wrote: post #358
gjvc wrote: post #30

Will people please stop calling this cretin by his cutesy name. This aura of personality over details of the operations of is a tell of a scammer.

So then what's the problem?

because, as the cryptocurrency fanatics are so fond of saying, "Few understand this."
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