Sam Bankman-Fried’s story did not end in the courtroom where he was sentenced to prison; it continues in the spreadsheets, balance sheets, and forgotten ledgers that tell a radically different tale from the one the public was sold.
I definitely do not understand crypto, but if it looks like a duck and quacks like a duck, it is probably a duck. For me, it looks like a toy for billionaires and does not represent time, effort, and hard work.
One issue has been SBF political donations which get in the way of Trump’s charity. SBF was not even handed as Trump has been trying to get decent regulation. Or maybe just poor timing of those donations. The Biden admin run by incompetence was hell bent to constrict growth and crypto was clearly misunderstood.
This is an amazing piece, once again demonstrating that virtually EVERY BAD THING comes from the government. This was yet another governmental cock-up, deliberately evil -- just like the Arthur Anderson fraud which damaged thousands. When are we going to rise up and actually do something? The perpetrators of this should be the ones rotting in jail (as with the AA stuff). Yet they just blithely go on collecting checks which we are funding.
I used to think government was 95% bad. I have now reached 100%.
I definitely do not understand crypto, but if it looks like a duck and quacks like a duck, it is probably a duck. For me, it looks like a toy for billionaires and does not represent time, effort, and hard work.
Careful about claiming there was no fraud. Did FTX appropriate and spend customer funds or not?
One issue has been SBF political donations which get in the way of Trump’s charity. SBF was not even handed as Trump has been trying to get decent regulation. Or maybe just poor timing of those donations. The Biden admin run by incompetence was hell bent to constrict growth and crypto was clearly misunderstood.
This is an amazing piece, once again demonstrating that virtually EVERY BAD THING comes from the government. This was yet another governmental cock-up, deliberately evil -- just like the Arthur Anderson fraud which damaged thousands. When are we going to rise up and actually do something? The perpetrators of this should be the ones rotting in jail (as with the AA stuff). Yet they just blithely go on collecting checks which we are funding.
I used to think government was 95% bad. I have now reached 100%.
Gensler hated crypto and made no secret of his contempt. His SEC refused to develop rules, preferring to regulate by suit.