Olsonist
Disgusting Liberal Elitist
With respect to the wider crypto universe – I view the asset class as too dependent on the “greater fool theory” to be a desirable investment. -- Alan Greenspan
Hi Tom!
Hi Tom!
FTX
- Thread starter blunderfull
- Start date
I’m a corporate fraud investigator. You wouldn’t believe the hubris of the super-rich
While the fraudsters I’ve encountered are often cunning, sooner or later they get carried away
www.theguardian.com
Olsonist
Disgusting Liberal Elitist
I remember back in the day there were a ton of Iran stories and there were a ton of Contra stories and then one glorious day, there was the Iran-Contra story.
Today is like that day.
www.sfgate.com
Today is like that day.
Scoop: Alleged liar George Santos had backing from FTX execs
Two FTX executives with sparse political donations gave big to Rep. Santos, according to...
silent bob
Super Anarchist
Begging for their money back!
www.axios.com
FTX asks for its political donations back
FTX's debtors are confidentially contacting "political figures, political action funds and other recipients."
www.axios.com
Steam Flyer
Sophisticated Yet Humble
Begging for their money back!
FTX asks for its political donations back
FTX's debtors are confidentially contacting "political figures, political action funds and other recipients."
Honest politicians stay bought, they don't give refunds.
silent bob
Super Anarchist
What’s the legal basis? If the bribes donations were legal and accepted in good faith, why should the dirty politicians have to give their loot back? Don’t criminals have as much right to buy influence as honest scum? Does the Toyota dealer have to refund SBF too?
Clove Hitch
Halyard licker
Meanwhile, there has been no issue with Knot Dollar$ (They're not dollars; they're Knot Dollar$! ")
My clients who enrolled in my basic subscription fee of 95 USD a month have seen their balance of Knot Dollar$ increase 4% each month.
We aren't able to convert Knot Dollar$ to USD at this time, but you can convert them to KeEl Qoins at 14:1.
Ask me how!
My clients who enrolled in my basic subscription fee of 95 USD a month have seen their balance of Knot Dollar$ increase 4% each month.
We aren't able to convert Knot Dollar$ to USD at this time, but you can convert them to KeEl Qoins at 14:1.
Ask me how!
Olsonist
Disgusting Liberal Elitist
Someone really wants to go to jail early.
silent bob
Super Anarchist
But, he just wanted to watch football!
www.dailymail.co.uk
The collateral in Mommy and Daddy’s house sounds really fishy. Sounds like the value is sub $5 million, and they might not even have the rights to it. I think a stay at the Grey Bar Inn might be in order. Maybe that nice one in Manhattan that Epstein stayed at!
Disgraced FTX founder Sam Bankman-Fried mobbed as he arrives at court
A U.S. judge asked in Manhattan federal court on Thursday how disgraced FTX founder Sam Bankman-Fried can remain free on $250 million bail after claims of witness tampering.
The collateral in Mommy and Daddy’s house sounds really fishy. Sounds like the value is sub $5 million, and they might not even have the rights to it. I think a stay at the Grey Bar Inn might be in order. Maybe that nice one in Manhattan that Epstein stayed at!
silent bob
Super Anarchist
Sam Bankman-Fried took $2.2 billion in payments and loans, FTX tells court
Another $839 million went to three executives who already pleaded guilty.
arstechnica.com
Olsonist
Disgusting Liberal Elitist
Coinbase issued a Wells notice by SEC.
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www.reuters.com
Yeah, that's not gonna buff out.
U.S. SEC threatens to sue Coinbase over some crypto products
The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc over some of the crypto exchange's products, turning up the heat on the largely unregulated sector.
www.reuters.com
Yeah, that's not gonna buff out.
Are we looking at the collapse of crypto and regular banking this week? This is not improving my negative optimism quotient at all.Coinbase issued a Wells notice by SEC.
U.S. SEC threatens to sue Coinbase over some crypto products
The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc over some of the crypto exchange's products, turning up the heat on the largely unregulated sector.
Yeah, that's not gonna buff out.
Olsonist
Disgusting Liberal Elitist
No.
I'm not a crypto fan at all and I don't really follow it. With that proviso ... I think this Coinbase thing should be seen as the SEC laying down a marker about enforcement. They're going to start asking is this a security? There's a test for that, the Howey Test:
a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party
Bitcoin isn't going to pass that. Maybe some of the other nonsense will. Or won't.
As for the SVB collapse, the Fed has been saying they will be and are raising interest rates. The market and apparently SVB bet on the Fed backing down. So yeah, SVB got bailed out (by the FDIC insurance fund which gets funded by other banks and not by the govmint/taxpayers) but they were first shut down and their investors lost everything. And the Fed is still raising interest rates.
So again, no. What I draw from all this is that the DC institutions are showing some backbone.
More fun.
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