741–750 of 886 posts
Having "Wirefraud" as the name of your group chat on Signal is something that the prosecutors are going to love when proving intent...
Couldn't find a reference for that specifically, but, damn, girl. > me: how do I signal my genuinely sweet and feminine nature on my dating profile? should it go before or after the section on wire fraud https://caroline.milkyeggs.com/worldoptimization/index.html
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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.
Maybe they don't need a cooprerating witness or special deals. Apparently the companies were really badly run, with lots of clear-cut violations, making it very easy to file charges. From The Verge article about the arrest of Bankman-Fried ( https://www.theverge.com/2022/12/12/23506483/sam-bankman-fri... ) : John J. Ray III, who has taken over for Bankman-Fried as CEO of FTX and whose credentials include supervising…
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It’s a little bit innocent to think that SBF isn’t intelligent; he’s extremely adept at lying and manipulating. And on top of that, intelligent enough to create a large crypto exchange. It’s his morals and impulses that got him into trouble.
He’s the latest example of why many RPGs have separate stats for intelligence and wisdom. He’s clearly not stupid but his lawyers must be sitting at their desks sobbing “stop giving interviews!”
This is good for Crypto. Seriously. Because SBF is probably going to help the US make their case against Binance and that will flush out all the bad actors. Many coins will go to zero. The entire ecosystem will wither and die, but if Crypto survives it will be because there is some fundamental value to it besides digital beanie babies.
Illegal transactions and money laundering isn't going to disappear. A generation of engineers obsessed with crypto will not suddenly stop caring even if a bunch of coins go to zero. The potential prize (control of a global currency/commodity) at the cost of just writing a bunch of code is too potentially lucrative to make people stop trying.
I think most of these engineers are interested in the high compensation that the blockchain space has been able to offer so far. If high compensations disappear, I suspect engineers will switch too.
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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.
If the charges include manipulating the prices of TerraUSD and Luna earlier in the year - that ironically probably caused the FTX implosion, it's hard how to see Caroline Ellison as head of Alameda wasn't heavily involved in major criminal activities. https://www.nytimes.com/2022/12/07/business/ftx-sbf-crypto-m... Getting one of two culpable people to testify against the other and let them off the hook seems a dreadf…
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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…
The badly labeled @fiat account ... ? I am still in awe over that 11yo's soda stand spreadsheet.
It's not even as if he was good at it, the scamming. It's like a three stooges, slapstick approach to financial fraud. He went to MIT for God's sake, he could have done something positive and meaningful with his life but instead chose this. So much opportunity cost lost here, we could have built a few bridges and rail lines, done real work with the money he burned.
I'm not for the US. Does being from MIT actually mean anything? In my country we don't really have a university that people would great about or that would how any special status, at least not that I would know of.
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She must have known where the bailout money was coming from (FTX customer funds). Yet she accepted it. That makes her appear as complicit.
Beyond a reasonable doubt?
Having "Wirefraud" as the name of your group chat on Signal is something that the prosecutors are going to love when proving intent...