The Bitcoin / Crypto Currency Thread

GBTC/ETHE trusts - this is not the way to inspire confidence.

But they don’t need to inspire confidence. You can’t get your share of their crypto out, only sell at a -45% discount to market or hold and pay them 2-3% AUM fees. Why should they care?

It’s not like the SEC is going to approve a BTC spot ETF any time soon to give them real competition.

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Take (or lose) a bunch of crypto, then get yourself a ticket to a country with no extradition.

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Well, the 2-3% of AUM is also 45% less… assuming the A in AUM refers to ETF share price, not bitcoin price…

I’m pretty sure it applies to the assets, not the market price. That’s the typical convention, including for leveraged funds where the assets are 2x more than equity and they charge their fee on assets…

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How it started

And the Lord came down to see the city and the tower, which the children of men builded. And the Lord said, Behold, the people is one, and they have all one language; and this they begin to do: and now nothing will be restrained from them, which they have imagined to do.

How it’s going

Go to, let us go down, and there confound their language, that they may not understand one another’s speech. So the Lord scattered them abroad from thence upon the face of all the earth

— Genesis, Ch 11.

https://www.bloomberg.com/news/articles/2022-11-21/crypto-firm-genesis-warns-of-possible-bankruptcy-without-funding

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For those not paying close attention (I wasn’t, but I read the first link), Grayscale mentioned 5 posts up and Genesis just above share the same parent company. Not sure if it means anything, since they’re probably legally separate entities (subsidiaries).

High roller FTX creditors get to hide their ID, but Joe Bloggs can’t??

Alongside prominent Democrats and their benefactors

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Slick Willy sure knows how to pick 'em

image

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So many options …
1 - Why the heck are his glasses pointed at the least area that needs magnification?
2 - What, no pics with his good buddy, Jeff Epstein (just another “friend of bill” that’s dead. At his age, that list may not seem significant. Look at it when he was 50. :slight_smile:

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BlockFi filed for BK. It’s gonna be a long time before customers get anything, given their “assets” are tied up in the FTX mess.

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You mean there is a chance I might see some of my $200 from BlockFi? Moral of the story for them, know your debtors. They actually froze in coming interest accounts way back over the summer.

Blockfi is being transparent at least. I might see some of the $200 after all the lawyers get paid… maybe

https://restructuring.ra.kroll.com/blockfi.

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FTX claims are trading around 5-6c on the dollar you gave to SBF, who apparently gave the other 95c to democrats, Ukraine, various charities, and buying his parents $100M houses in the Bahamas.

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This interview is a horror movie for any defense lawyer…

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Agreed. The question is whether he will ever be prosecuted given the way he has greased the palms of the Democrat establishment. And yes he made a few donations to faux Republicans like Mitt Romney.

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My $0.02 is that he will be prosecuted to the fullest extent of the law. He’s the face of crypto fraud much more than Do Kwon, taking advantage of people’s gullibility and exploiting loopholes in countries like The Bahamas. You can’t pretend to be a genius and then claim you didn’t know what was happening.

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Yep, Just watched ABC special with SBF. Wow, idiot savant “worth” billions, engaged in ugly polyamory who had ADHD issues. Can’t believe people “bought” it.

Apparently he’s still trying to “help” customers and “make the world a better place” almost exactly the thing Holmes was saying.