The Bitcoin / Crypto Currency Thread

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SBF interview, pretty crazy admissions

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This is surreal. Tom Brady and his ex. Steph Curry. Larry David. Reminds me of the stages of a project poster displayed at most companies in Silicon Valley. The final stage is “distinction for the uninvolved.”

https://www.msn.com/en-us/news/us/ftx-crypto-investors-sue-founder-sam-bankman-fried-and-celebrity-promoters/ar-AA14bNUV

A class-action lawsuit filed Tuesday alleges that the crypto platform FTX and former CEO Sam Bankman-Fried violated Florida law, misled customers and cost investors billions of dollars in damages.

The lawsuit also names some of the athletes and celebrities that promoted the platform, including Tampa Bay Buccaneers quarterback Tom Brady and supermodel Gisele Bündchen, his ex-wife; Golden State Warriors guard Stephen Curry; and businessman Kevin O’Leary.

The lawsuit alleges that U.S. customers sustained $11 billion in damages and accused the exchange of targeting “unsophisticat

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Says the guy who cleaned up the Enron mess, now in charge of the BK FTX:

‘NEVER IN MY CAREER HAVE I SEEN SUCH A COMPLETE FAILURE OF CORPORATE CONTROLS AND SUCH A COMPLETE ABSENCE OF TRUSTWORTHY FINANCIAL INFORMATION AS OCCURRED HERE’ – COURT FILING

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Yikes. Makes you think the people that got wrecked by Voyager were better off than the ones wrecked by FTX. I guess just because your company goes bankrupt later doesn’t mean you were managing things better.

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Theranos CEO Holmes scheduled to be sentenced tomorrow. Hope to see all these scammer ex-billionaires sent to prison.

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Well written victory lap for an FTX skeptic

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+1 Hulu has a great series about Theranos. Ex-billionaires that were all genius, lots of political connections and were going to change the world. At least this guy graduated from MIT, Holmes series is called DropOut.

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Crypto keeps learning the same old finance lessons. Today it’s “Don’t keep all your net worth in company tokens, or on the company platform / bank”

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Verdict imminent. They want to factor in expectant mom relief…

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11 years for her

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I think it’s a fair sentence; hopefully it’ll deter other fraudsters.
Her ex-boyfriend will be looking at a harsher sentence.

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I know it’s Hollywood version, but the show made it seem that she duped him too… He actually lost money as investor. They made a big deal about age difference when they met (she was 18, he was in 30’s)

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I wrote my comment based on what judge Davila said this afternoon. The judge gave the impression he believes Balwani was the initial instigator of the fraud against investors.

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Interesting how these fraudsters duped big-name publications. Willfull suspension of disbelief

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I agree. I wonder how many other “billionaires” are just con men, catering to the LCD, esp. on the political scene

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'Ahem.

Welcome back: ) @Honkinggoose

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Lots of details on the alleged fraud and how the various SBF entities facilitated this.

And on the lighter side, Michael Lewis’s upcoming book already has a betting market for titles:

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Lots of details on the alleged fraud and how the various SBF entities facilitated this.

Amazingly sophisticated and complex scheme. The guy looks like a geek but he spread around $billions to buy influence. The SEC and the CFTC come out looking good in the article. They were not bought off and their rulings started the unraveling of the.empire.

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