huh? I just said it has value
I think the biggest difference between speculation and scam is whose money your doing it with. I don’t really care what kind of risks someone takes with their own money. Taking big risks with someone else’s money when you have led that person to believe you are taking little risks with their money is a scam.
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not you calling out hedge funds
The head of the Chicago Mercantile Exchange got asked why regulators hadn’t stepped in and done something about FTX. His response is a WTF moment, as he apparently admits bribing regulators himself:
https://twitter.com/ryangrim/status/1595432125922217984?t=FTFdCXGJCPjV-7LLvQ675w&s=19
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Looks like the dude finally got arrested.
They got him
I wonder what they charged him with
Taking rich folks money?
Defrauding investors I think
Violating the laws of fashion?
Seems like a Ponzi scheme to me.
Also thinking his “Aw shucks” demeanor is not as it seems. There is more to this story for sure.
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A day after he was arrested at a luxury apartment in the Bahamas, Sam Bankman-Fried declared he would fight extradition to the United States, where he faces charges by multiple federal agencies, including wire fraud, conspiracy to commit money laundering, securities fraud and conspiracy to violate campaign finance laws
of course he will. and he should. he should launch every reasonable defense to every aspect of the charges he is facing.
i still hope he is convicted. but i don’t begrudge the defense.
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Eh, if he knows he is guilty as sin he should save everyone the drama and expense of multiple hearings/trials, work out a plea bargain and plead guilty.
