FP - it is very unlikely this guy will escape without criminal proceedings. As noted above, people affiliated with both political parties have been sting. SBF has caused so much turmoil to counterparties that the damages will not be contained. Think a sophisticated “bank” like Silvergate, which is caught up in the FTX mess, won’t have the barbs out for SBF? Word on the street is that his ex is in NY cooperating with the feds, which makes a lot of sense. You can hope he avoids prosecution, but I sure as heck won’t take that bet.
Crypto anywhere went down ~70% last year and the fiat pool is always very thin (I think this is kept a mystery still but the truth as to just how thin will come out soon, one clue is CZ Binance’s communication with SBF about a 250k move causing issues), and is not nearly enough to cover bank runs, as it mostly disappears in a Ponzi scheme of entertainment money/made up funny money (stablecoin ie casino chips). Most of the fiat is in a pool not well maintained and protected by compliance measures and so it is highly likely dabbled into and/or gone (ie spent by SBF, his buddies, and crypto miners) by the time it’s put in. Making the mistake of putting money into crypto to be expecting high returns, or at least maintaining capital, and not to lose it all is a good lesson as to why it is important to not take for granted the systems and laws we have had in place in USA since the 1920s… eg FDIC insured banks, audited financial statements, many securities laws to prevent (or at least make very difficult) and criminalize wash trading (fake trades to prop up the trading price), spoofing, front running (insider information ahead of others) and other criminal behavior that is normal and widespread and totally legal in crypto. Crypto bros must be very trusting of other crooks overseas in a lawless land with their fiat monies. I think crypto bro is so used to trust in traditional ways in USA that they blow through the caution warnings throughout the crypto space because the potential returns appear to be so high that the allure is just too much to pass up.
FP - it is very unlikely this guy will escape without criminal proceedings. As noted above, people affiliated with both political parties have been sting. SBF has caused so much turmoil to counterparties that the damages will not be contained. Think a sophisticated “bank” like Silvergate, which is caught up in the FTX mess, won’t have the barbs out for SBF? Word on the street is that his ex is in NY cooperating with the feds, which makes a lot of sense. You can hope he avoids prosecution, but I sure as heck won’t take that bet.
After losing my life savings+proceeds from the sale of my home to @CelsiusNetwork, and forced to live in my car, this is about as much of a softball I could throw at @Mashinsky. If you have a chance to make a comment to him on Twitter, remember it could be the only one you get. pic.twitter.com/rxFZS1cEt1
According to Reuters: “The stakes are high for the deeply troubled crypto sector. If the investigation goes against Binance and Zhao, it could loosen Binance's grip on the industry. Its hold has been strengthened by the recent collapse of rival exchange FTX. Binance's defense attorneys at U.S. law firm Gibson Dunn have held meetings in recent months with Justice Department officials, the four people said. Among Binance's arguments: A criminal prosecution would wreak havoc on a crypto market already in a prolonged downturn. The discussions included potential plea deals, according to three of the sources.”
As someone noted, at this point there will only be an arrest if he confessed--the evidence has to be gathered. Madoff at least was honorable enough to confess once the jig was up.
At this point, his defense is obviously that he was just stupid and so it wasn't fraud (which requires intent). If his girlfriend really is turning that aint gonna work.
Does not need defense.
Has not and will not be indicted.
Well it looks like all your conspiracy theories on this one have died. Why don't you ever get tired of that?
Wow. We will never hear from carmine9 again.. just like that troll that stated Covid wouldn't surpass 2600 infections. This thread goes down in infamy!!
Wow. We will never hear from carmine9 again.. just like that troll that stated Covid wouldn't surpass 2600 infections. This thread goes down in infamy!!
I wish this were true, but no doubt he'll be back posting his nonsense soon enough.
Wow. We will never hear from carmine9 again.. just like that troll that stated Covid wouldn't surpass 2600 infections. This thread goes down in infamy!!
Oh you'll hear plenty from carmine9 again; trolls like him/her/it have no shame. They just move on to the next topic about which they will be catastrophically wrong.
"Darren Tseng @dtseng123 SBF is arrested. Binance is dealing with surges in withdrawals, and CZ has a case being built against him by the DOJ. Anyone want to take a guess which domino will fall next? Only a matter of time, and time is short. 2:01 AM · Dec 13, 2022"
Wm Rick Singer, mastermind of the college scandal, was indicted and arrested years ago and still a man having not done a day in jail while all his victims have done time.
SBF will be allowed to cooperate and skate free while others involved will pay the price.
The usual. Hell, even Madoff and G Maxwell were sent to the cushiest Club Feds.
Wm Rick Singer, mastermind of the college scandal, was indicted and arrested years ago and still a man having not done a day in jail while all his victims have done time.
SBF will be allowed to cooperate and skate free while others involved will pay the price.
The usual. Hell, even Madoff and G Maxwell were sent to the cushiest Club Feds.
You guys are being naive
How much fiat did you put into cryptocurrencies? What do you now think is the purpose of crypto, if any? How do you think crypto will be described in the history books? Tulip mania?
As Twitter was grabbing power to boot former President Trump, they were also planning to exert the same power over Covid and medical misinformation. Was this...
You absolutely shameless racist insane moron. State unequivocally that a guy will never be arrested, two days later person is arrested then just completely change and obsess over Fauci. Just be patient, Elon will get you your Hunter Biden dick pics and you can rub one out and calm down.
Help us build the best running shoe review site for a chance to win a LetsRun t-shirt.Help us build the best running shoe review site for a chance to win one of 10 LetsRun t-shirts.