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SBF Arrested by Bahamian Authorities

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Re: SBF Arrested by Bahamian Authorities

#731

Post by vkou »

notch656a wrote: post #547
notdonspaulding wrote: post #522

Earlier quoted context omitted.

Justice is what happens when people are held accountable for the wrong things they've done. Nothing about justice requires that punishment be meted out in strict accordance with the demographic breakdown of a population except insofar as wrong things are done in strict accordance with the same demographic categories. Maybe you're assuming that to be the case, but I don't think you'll find any evidence to support such…

Exactly. If black people disproportionately are in prison, maybe that's just justice.

Or maybe it's not? It completely depends on your prior. I, for one, am not entirely convinced that racism disappeared without a trace in 1964.

Re: SBF Arrested by Bahamian Authorities

#732

Post by jack_pp »

djur wrote: post #706
jack_pp wrote: post #357

Earlier quoted context omitted.

The right has been villainized for a very long time and for good reason. Left-leaning people discovering that their side is just as bad and untrustworthy when given enough power is, I believe, the reason people are pointing it out. The left were supposed to be the good guys. You don't begrudge the scorpion for stinging as much as the frog that promised would lead you to a more fair and just land, only to carry you to…

The left (or at least the fairly broad swath I'm acquainted with) has been mostly hostile to crypto and skeptical of "effective altruism" for years. I don't know anybody on the left who would have identified SBF as "one of the good guys" before this all came out; "yet another tech bro who thinks he knows how to save the world" is more like it.

I've only ever heard of left-leaning publications that find excuses for him. Maybe individuals you are acquainted with are as you said but that wasn't what me or parent were talking about

Re: SBF Arrested by Bahamian Authorities

#733

Post by Animats »

siftrics wrote: post #447
Animats wrote: post #295

He may never see the world outside of a jail again. Most white-collar criminals are released on bail. But after extradition, it's different.[1] "The Bail Reform Act ... and the attendant presumption in favor of bail for persons facing trial, apply only to criminal defendants and are inapplicable to fugitives facing extradition proceedings. Because of the potential harm to the country's international relations that co…

1. Incorporating a company in another country and abiding by its rules and regulations is not and should not, in and of itself, be considered "evasion" of US regulation. 2. The US has refused to draft clear legislation regarding how to operate a crypto company in the US, effectively forcing all interested parties to take the route described in point 1.

New York State licenses crypto companies.[1] There's a list of the licensed companies on that page. It includes Gemini and Coinbase.

A crypto company could set itself up as a stock broker/dealer. Robinhood has done that.

There's clear legislation. It's just that the marginal players don't like it. They wouldn't get past the initial requirements.

[1] https://www.dfs.ny.gov/virtual_currency_businesses

Re: SBF Arrested by Bahamian Authorities

#735

Post by carlmr »

dmix wrote: post #155
favflam wrote: post #139

Earlier 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…

>responsible for the "dual accounting" issue where deposits were counted twice.

You're supposed to count everything twice in corresponding accounts. That's double-entry accounting.

Re: SBF Arrested by Bahamian Authorities

#736

Post by fosk »

hn_throwaway_99 wrote: post #612
user3939382 wrote: post #605

Earlier quoted context omitted.

> law enforcement In the US our corruption is out in the open, we enshrine our corruption into laws. Corporations have lobby groups that literally write the legislation Congress passes. If you think our system has integrity you’re just naive I’m sorry.

This nihilism is wrong, and exhausting. Yes, corruption exists. Yes, there are bad actors. But this idea that "everything is corrupt, all the laws are corrupt, the whole system is corrupt" is just lazy bullshit.

You are right, most certainly not everything is corrupt and not everything in the “system” is wrong.

And yet, OP’s point of view is a very common one among people. So why is that? I think dismissing this as “nihilism” it’s not a clever continuation of this conversation.

Is it because the system is very inefficient at healing itself (or so seems to be) from bad actors, that the public thinks it will never be healed? Is it because politics is a zero sum game, therefore since many are corrupt and cheating, all the others seem compelled to do the same in order to hang onto power? (Very similar dynamics happens with pro cyclist).

Is it because it attracts a certain profile of people that are more likely to be corrupted?

Given the power nature of politics and the relatively few players involved, is it because we are holding everybody at a high standard therefore even one episode of corruption is enough to taint the whole category, even when corruption is limited in scope?

Lots of places to go before slapping the “nihilist” label on the car.

And if indeed the system doesn’t get better, what’s a good way to address the “nihilist” point of view across the population?

Is the problem too big and too complex to be solved because we can’t change human nature? Then maybe it is nihilism after all.

Re: SBF Arrested by Bahamian Authorities

#737

Post by [deleted] »

mef wrote: post #614
TacticalCoder wrote: post #565

Earlier quoted context omitted.

> I haven’t seen any evidence Alameda itself committed any crime Three very rich crypto millionaires (or billionaires?) have died mysteriously in the past weeks. One, 30 years old, in his sleep. One in a helicopter which blew (not far from where I live) after a mysterious passenger cancelled his flight at the last minute. And another one who drowned (after having tweeted that "they" were after him). If SBF has dirt o…

who?

[deleted]

Re: SBF Arrested by Bahamian Authorities

#738

Post by 1vuio0pswjnm7 »

1vuio0pswjnm7 wrote: post #621

The timing of this is interesting, on the eve of SBF testifying before Congress.

"The arrest came as Bankman-Fried prepared to lash out at his former lawyers at Sullivan and Cromwell, new FTX CEO John Ray and rival exchange operator Binance at a U.S. Congressional hearing.

In the testimony, a draft copy of which was seen by Reuters, Bankman-Fried planned to say he was pressured by Sullivan and Cromwell lawyers to nominate Ray as CEO following the sudden exodus of customer funds. And when within minutes he changed his mind, following an offer of billions of dollars of fresh funding, he was told it was too late.

It is unclear, however, whether Bankman-Fried will get to testify."

https://www.cbc.ca/news/business/ftx-bankman-fried-arrested-...

https://www.forbes.com/sites/stevenehrlich/2022/12/13/exclus...

To read the transcript as a PDF:

   tnftp -4o 1.jpg  'https://imageio.forbes.com/specials-images/imageserve/639819b415bec55a96620eb9/Screenshot-2022-12-13-at-1-20-27-AM/0x0.jpg?format=jpg&width=960' 
   tnftp -4o 2.jpg 'https://imageio.forbes.com/specials-images/imageserve/639819e42bbb1840c441c2ff/Screenshot-2022-12-13-at-1-21-12-AM/0x0.jpg?format=jpg&width=960' 
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Re: SBF Arrested by Bahamian Authorities

#739

Post by mhalberstram »

mef wrote: post #614
TacticalCoder wrote: post #565

Earlier quoted context omitted.

> I haven’t seen any evidence Alameda itself committed any crime Three very rich crypto millionaires (or billionaires?) have died mysteriously in the past weeks. One, 30 years old, in his sleep. One in a helicopter which blew (not far from where I live) after a mysterious passenger cancelled his flight at the last minute. And another one who drowned (after having tweeted that "they" were after him). If SBF has dirt o…

who?

The last one is Nikolai Mushegian, he was found drowned shortly after tweeting this: https://twitter.com/delete_shitcoin/status/15859187180889702...

Re: SBF Arrested by Bahamian Authorities

#740

Post by ben_w »

carlmr wrote: post #735
dmix wrote: post #155

Earlier quoted context omitted.

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…

>responsible for the "dual accounting" issue where deposits were counted twice. You're supposed to count everything twice in corresponding accounts. That's double-entry accounting.

While it's possible someone just misunderstood colossally in the reporting (happens all the time), one of the allegations is that he had two different sets of documents to hide stuff and get things past auditors, not just double every as is standard.
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