FTX/Sam Bankman-Fried
Discussion
KaraK said:
lemmingjames said:
you should watch some of the coffeeziller (youtuber) about the amount of fraud going on around on crypto and social media 'influencers'.
i knew it went on but not to the scale and sums involved, no wonder theres so more millionaires in the world
I've been following Molly White's excellent "Web3 is going just great" for a while, the site has a built in "grift counter" that provides a running total - she's reasonably conservative in what gets added to it from what I can tell (e.g. it's not counting the FTX losses as "grift", at least not yet) and it's a little over $12 billion now i knew it went on but not to the scale and sums involved, no wonder theres so more millionaires in the world
MG CHRIS said:
The Jake Paul one with cryptozoo ATM is brilliant to watch. Level of corruption is mind boggling
KaraK said:
Is anyone else just the tiniest bit disappointed that with all this new technology at their fingertips most of these shysters are just trotting out the same old tired scams? I mean Ponzi schemes, Pump-and-Dump, embezzling customer funds etc, it's all been done before. Haven't they got anything original to try?
Sorry for combining the replies and probably worth a thread its on right but surely 'the fed' cant allow this continue for much longer and start going after these 'influencers'? I know a couple have been arrested out in America, not sure what the UK is doing, but the sums involved is just crazy really. Unless they are in the background? Though i did read briefly (think it was the bbc website or a normal print paper website) that Governments are saying that crypto needs to be regulated so can see them coming down hard on it soon (funnily enough, this was mentioned in the 'conspiracy theory' video in one of the previous posts about FTX being set-up to fail). Ill see if i can find the link
lemmingjames said:
Sorry for combining the replies and probably worth a thread its on right but surely 'the fed' cant allow this continue for much longer and start going after these 'influencers'? I know a couple have been arrested out in America, not sure what the UK is doing, but the sums involved is just crazy really. Unless they are in the background?
Though i did read briefly (think it was the bbc website or a normal print paper website) that Governments are saying that crypto needs to be regulated so can see them coming down hard on it soon (funnily enough, this was mentioned in the 'conspiracy theory' video in one of the previous posts about FTX being set-up to fail). Ill see if i can find the link
I followed a link above to that coffee bloke talking to some "influencer" tThough i did read briefly (think it was the bbc website or a normal print paper website) that Governments are saying that crypto needs to be regulated so can see them coming down hard on it soon (funnily enough, this was mentioned in the 'conspiracy theory' video in one of the previous posts about FTX being set-up to fail). Ill see if i can find the link
t that straight up admitted that he took investment, decided not to bother with his end of the bargain and kept 300k. Coffee man asked if influencer was going to return the 300k that was still there unspent, and influencer said "no, i'm going to keep it." 300k for 2 weeks work and a lot of lies. Nice.unbelievable that no-one is going after him, i don't know which laws have been broken but i suspect it's quite a few!
Some Gump said:
lemmingjames said:
Sorry for combining the replies and probably worth a thread its on right but surely 'the fed' cant allow this continue for much longer and start going after these 'influencers'? I know a couple have been arrested out in America, not sure what the UK is doing, but the sums involved is just crazy really. Unless they are in the background?
Though i did read briefly (think it was the bbc website or a normal print paper website) that Governments are saying that crypto needs to be regulated so can see them coming down hard on it soon (funnily enough, this was mentioned in the 'conspiracy theory' video in one of the previous posts about FTX being set-up to fail). Ill see if i can find the link
I followed a link above to that coffee bloke talking to some "influencer" tThough i did read briefly (think it was the bbc website or a normal print paper website) that Governments are saying that crypto needs to be regulated so can see them coming down hard on it soon (funnily enough, this was mentioned in the 'conspiracy theory' video in one of the previous posts about FTX being set-up to fail). Ill see if i can find the link
t that straight up admitted that he took investment, decided not to bother with his end of the bargain and kept 300k. Coffee man asked if influencer was going to return the 300k that was still there unspent, and influencer said "no, i'm going to keep it." 300k for 2 weeks work and a lot of lies. Nice.unbelievable that no-one is going after him, i don't know which laws have been broken but i suspect it's quite a few!
"Caroline Ellison Admits to Hiding Alameda Research’s Billion Dollar Loans from FTX"
https://watcher.guru/news/caroline-ellison-admits-...
https://watcher.guru/news/caroline-ellison-admits-...
On a related note Core Scientific "among the largest North American providers of blockchain infrastructure, software and services" and the biggest crypto ASIC miner has filed for bankruptcy.
Suffered a net loss of $434.8m in the last three months and held only $4m in liquid assets.
Further news and knock on effect - https://www.reuters.com/legal/litigation/bitcoin-m...
Suffered a net loss of $434.8m in the last three months and held only $4m in liquid assets.
Further news and knock on effect - https://www.reuters.com/legal/litigation/bitcoin-m...
Bluequay said:
maz8062 said:
$250m bond
According to the papers it's a $250m Personal Recognisance bond, which means he walked out paying nothing!!!A Personal Recognizance Bond, better known as a “PR Bond“, is granted by a court judge once the review of an individual’s case and criminal history has been completed during a pretrial hearing. In most cases where PR Bonds are granted, the judge has determined that individual does not pose a threat to the community, and has ties to the community that help the court decide whether or not he/she is a flight risk (e.g., employed, a student, a community leader, etc.).
Andy 308GTB said:
Bluequay said:
maz8062 said:
$250m bond
According to the papers it's a $250m Personal Recognisance bond, which means he walked out paying nothing!!!A Personal Recognizance Bond, better known as a “PR Bond“, is granted by a court judge once the review of an individual’s case and criminal history has been completed during a pretrial hearing. In most cases where PR Bonds are granted, the judge has determined that individual does not pose a threat to the community, and has ties to the community that help the court decide whether or not he/she is a flight risk (e.g., employed, a student, a community leader, etc.).
Bluequay said:
I would guess that the lack of bond! was part of the deal to not fight extradition.
Getting out of a dangerous sthole jail was his main incentive for accepting extradition.The bail deal seems more like part of his ongoing kid glove treatment as also seen coming from press & politicians.
pquinn said:
Bluequay said:
I would guess that the lack of bond! was part of the deal to not fight extradition.
Getting out of a dangerous sthole jail was his main incentive for accepting extradition.The bail deal seems more like part of his ongoing kid glove treatment as also seen coming from press & politicians.
The generous way is imprisonment is very expensive and therefore to be avoided unless he’s a ongoing danger to the public or a flight risk.
The less generous way is to suggest that treating him more harshly than is strictly required might make him more likely to spill some embarrassing beans later on.
pquinn said:
Bluequay said:
I would guess that the lack of bond! was part of the deal to not fight extradition.
Getting out of a dangerous sthole jail was his main incentive for accepting extradition.The bail deal seems more like part of his ongoing kid glove treatment as also seen coming from press & politicians.
brickwall said:
The generous way is imprisonment is very expensive and therefore to be avoided unless he’s a ongoing danger to the public or a flight risk.
Using previous examples from history he has already caused or, will be causing multiple suicides, some of them might be family men. It's just that we can't see the full extent of the damage yet and, their families won't want to come forward into the limelight.https://twitter.com/MetaLawMan/status/160810299385...
A new lawsuit has been filed in the FTX bankruptcy. The complaint seeks a ruling that FTX exchange customers are not "creditors" because the customers' funds never became the property of FTX. And, therefore, these customer funds can not be used by FTX to pay other creditors.
To the extent customer funds can be traced to a particular account, the idea is those funds must go back to those customers. The challenge is--given the reported poor FTX recordkeeping cited by JJ Ray--this may be difficult or impossible to do now. Because certain FTX customer agreements clearly state that customer assets Do Not become property of FTX, the legal argument in the suit is not crazy.
A new lawsuit has been filed in the FTX bankruptcy. The complaint seeks a ruling that FTX exchange customers are not "creditors" because the customers' funds never became the property of FTX. And, therefore, these customer funds can not be used by FTX to pay other creditors.
To the extent customer funds can be traced to a particular account, the idea is those funds must go back to those customers. The challenge is--given the reported poor FTX recordkeeping cited by JJ Ray--this may be difficult or impossible to do now. Because certain FTX customer agreements clearly state that customer assets Do Not become property of FTX, the legal argument in the suit is not crazy.
Carl_Manchester said:
brickwall said:
The generous way is imprisonment is very expensive and therefore to be avoided unless he’s a ongoing danger to the public or a flight risk.
Using previous examples from history he has already caused or, will be causing multiple suicides, some of them might be family men. It's just that we can't see the full extent of the damage yet and, their families won't want to come forward into the limelight.Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff