Crypto firm BlockFi files for bankruptcy as FTX fallout spreads (illegal, millionaires)
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Me personally, I think there is too much risk associated with it but I harbor no ill will towards anyone and their investments etc.
Oh and by the way, I crafted my previous post because I wanted a reply from you, because I genuinely enjoy reading your posts ~ they make a lot of sense.
Wait a minute. Does this mean that when celebrities endorse things they do so out of self interest because they're being paid!? And not doing it as a generous altruistic act to help out the little people!?
I have a hard time coming up with sympathy for people who dumped money they couldn't afford to lose into FTX or any other one of these companies because a celebrity on TV told them to. Hopefully some valuable (if not expensive) lessons will be learned here. Speculation is not investing. Tom Brady or any other celebrity is not looking out for you. FOMO and dreams of hitting it big are not great investment strategies.
Celebrities are told what to say all the time.
"You must come out and say this or that, denounce this or that"...or else. This is very common as a public figure. They do it to make more money in the future, failure to do so could represent losses in the tens of millions of potential future income.
A young 20-30 year old that is on the uprise, will always do what they're told to do. Once these people age, made their money, will they actually come out and voice their own opinion (and not the opinion of the production company).
That's how it works, folks.
That's why nobody should ever give airplay to any of these people, they're on the take ~ literally.
Oh and by the way, I crafted my previous post because I wanted a reply from you, because I genuinely enjoy reading your posts ~ they make a lot of sense.
I like to make sense and at the same time....I'm frequently wrong about things over the years.
So, with regards to Crypto, vote with your wallets it's just not something I'm comfortable with.
(Also, I am maybe 5 years out from retirement if things stay reasonably sane so I'm not in an aggressive mode at this point.)
as someone who might know how treasury works a wee bit, during the trump years, crypto was out of favor. Its backing met exactly zero of the long standing fed policies for a 'currency', they (treasury) correctly predicted how it could be used to inflate values and collapse in short order, like, um, it did. Plans were afoot to freeze all crypto funds at PV and force a dissolution - taxpayer paid for of course....but during the trump years the DoJ was kept busy with fake stuff.
When the admin changed, crypto became a darling and what were once nutjob requests to have the US enter into crypto, became vogue - just ask yellen - who is utterly unqualified to hold the job (familiar pattern). BUT, it was also demonstrated how easy it is to launder money and funnel money - which is what happened here. anyone who lost their savings: you were warned. graphically.
the harshest penalties for financial crimes like this are confinement to a country club.
Street gangs could take a lesson here. They risk way more for way less than white collar criminals. White collar crime is where it is at. You make billions, pay a few million in fines, do 4 months golfing at Club Fed, and laugh all the way to the bank. OK, if you are Martha Stewart, maybe you get assigned some chores.
The bloods and the crips have nothing on white collar gangs.
But even white collar criminals are not very smart. Politicians engage in profitable fraud, graft, and kickbacks all day long with impunity. They are the most savvy organized criminals.
Every MS13 member should be running for local school board.
Investors are unnecessarily causing a run on these crypto banks by panic selling. or withdrawals. The FTX CEO is a criminal not even investing alot of client funds instead taking/using it elsewhere. It was a scam to get investor money. FTX was a criminal con or scam. It's not about failed crypto investments.
In the meantime big government politicians think it was lack of regulation but the more information that comes out FTXs financial collapse was a result of fraud, a crime not crypto.
For all that Fried did...he's not going to get in much trouble because....it's all unregulated.
If he commingled FTX customer funds with Alameda customer funds, that’s a LOT of potential fraud charges (wire fraud, mail fraud, bank fraud, securities and commodities fraud) likely coming his way. He’s saying he didn’t try to commit fraud or knowingly commingle funds, but you know what they say about ignorance of the law as a defense.
Financial fraud charges for this CEO IS HARSH! https://bitcoinist.com/ftx-sbf-found...-for-humanity/
Really!? 115 Years In Jail? Why?
That criminal convict ends up as a victim to such arrests
Who knew Cryptocurrency business can spell TROUBLE!
Is Bahamas Caribbean governing system following respective orders from USA's own official Courtroom Laws?
Harsh you say? I always hear the left whining that white collar criminals usually get a slap on the wrist compared to ordinary criminals. Now they might be getting that in which they've been calling for for decades now to make up for it.
Financial fraud charges for this CEO IS HARSH! https://bitcoinist.com/ftx-sbf-found...-for-humanity/
Really!? 115 Years In Jail? Why?
That criminal convict ends up as a victim to such arrests
Who knew Cryptocurrency business can spell TROUBLE!
Is Bahamas Caribbean governing system following respective orders from USA's own official Courtroom Laws?
I would like to see him get a 115 year sentence. But my guess is he takes a plea deal and maybe 20 years or less.
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