that plea deal must have been sweet to roll over so quickly, or people really hate paying lawyers
― mh, Thursday, 22 December 2022 02:57 (one year ago) link
hope some vcs go down with this
― 龜, Thursday, 22 December 2022 03:02 (one year ago) link
DOJ and SEC often don’t file charging docs until they already have the plea.
― longtime caller, first time listener (man alive), Thursday, 22 December 2022 14:57 (one year ago) link
the vcs are how the sec has jurisdiction here, unfortunately― 龜, Wednesday, December 21, 2022 10:02 PM (yesterday) bookmarkflaglink
they can still be guilty of crimes right
― lag∞n, Thursday, 22 December 2022 15:40 (one year ago) link
i mean, yeah, but what would you charge them with?
― 龜, Thursday, 22 December 2022 15:55 (one year ago) link
pumping n dumping shitcoins
but just generally there seems to be a ton of collusion between the various crypto whales were some of them vcs do any of the cooperators know anything about that, and even outside of ftx seems like industry wide were going to have a lot of telling happening soon, its probably happening now tbf
― lag∞n, Thursday, 22 December 2022 16:04 (one year ago) link
my intuition is that your general traditional VC type firms like a16z or sequioa did not run crypto prop trading desks, but who knows
― 龜, Thursday, 22 December 2022 16:24 (one year ago) link
nor would you need to to be involved in a conspiracy
― lag∞n, Thursday, 22 December 2022 16:28 (one year ago) link
as weve seen absolutely all of the big crypto players who face any scrutiny end up being dirty, and most of the big money flowing into crypto during this last boom was from vcs, im sure they would like you to believe that theyre just innocent investors, but that of course is not at all how they operate, theyre all up in the business, andreessen horowitz for instance has been intimately involved in building a bunch of these difi etc companies promoting their weird coins which they get at a discount and so forth, theyre totally in it
― lag∞n, Thursday, 22 December 2022 16:34 (one year ago) link
i know a16z had a big crypto fund (down 40%), but didn't know they were also promoting coins?
― 龜, Thursday, 22 December 2022 16:37 (one year ago) link
they invest in companies that produce coins and then they talk about the coins, im not going to write that abbreviation i hate it so much andyhorys whole schtick throughout the late stage of the crypto boom was to have companies theyve invested in whether they were originally crypto or not produce a coin of which they get a bunch at a nice presale price, they were printing money off this shit its much easier to make a coin than an actual good company, the whole thing looks extremely pump n dumpy, idk of course whether it meets the legal definition, but so far everything thats come to light ends up being actually way more criminal than it even looks
― lag∞n, Thursday, 22 December 2022 16:44 (one year ago) link
yeah man, i hear you a lot of shady shit went down, i just dunno if your big traditional VC types were actually pumping and dumping coins
― 龜, Thursday, 22 December 2022 16:52 (one year ago) link
it does look exactly like they were
― lag∞n, Thursday, 22 December 2022 16:54 (one year ago) link
guess well find out soon enough tho
― lag∞n, Thursday, 22 December 2022 16:55 (one year ago) link
https://archive.ph/NgRtb
looks like there already are (private) lawsuits alleging this
― 龜, Thursday, 22 December 2022 17:04 (one year ago) link
pumpy dumpy
― G. D’Arcy Cheesewright (silby), Thursday, 22 December 2022 17:06 (one year ago) link
yeah theres no doubt that these companies that they built allowed rampant fraud and they knew about it and profited from it, which is bad enough on its own, but then the further question would be if they also did the fraud themselves, seems like it would be pretty temping to have some coins and a pump n dump machine at your fingertips, and also the entire industry is built on pumping and dumping
― lag∞n, Thursday, 22 December 2022 17:09 (one year ago) link
or they couldve also outsourced it to some coconspirator just by sending a text or whatever
― lag∞n, Thursday, 22 December 2022 17:10 (one year ago) link
ftx executives are flipping on bankman f so then who does he flip on whos upstream from him, tether is the obvious one, but also maybe vcs, other crypto whales idk
― lag∞n, Thursday, 22 December 2022 17:13 (one year ago) link
pic.twitter.com/UWpoXhJzvl— Sean Morrow (@snmrrw) December 22, 2022
― lag∞n, Thursday, 22 December 2022 23:57 (one year ago) link
Marc andreessen going to jail bc of crypto would be pretty sweet, though that seems pretty unlikely
― circles, Friday, 23 December 2022 02:47 (one year ago) link
https://i.ebayimg.com/images/g/YB0AAOSwaadiZVo0/s-l500.jpg
― mh, Friday, 23 December 2022 02:50 (one year ago) link
― lag∞n, Thursday, 22 December 2022 17:13 (yesterday) link
I'm skeptical they would cut SBF a break to get to some VC or whale. SBF is already a cartoon villain now, they need to take him down hardcore, dope on the table.
― longtime caller, first time listener (man alive), Friday, 23 December 2022 03:54 (one year ago) link
I mean to be clear, he deserves it. But I would be shocked if they give him a deal to some more powerful and less publicly known person.
― longtime caller, first time listener (man alive), Friday, 23 December 2022 03:55 (one year ago) link
its not like they have to let him off more of a tell us what you know as part of your guilty plea and well tell the judge you were forthcoming then maybe he doesnt get the max
― lag∞n, Friday, 23 December 2022 19:16 (one year ago) link
i suspect itll all come out regardless, everyone involved is just so flagrantly doing crimes
― lag∞n, Friday, 23 December 2022 19:17 (one year ago) link
i mean he might just tell them if they ask
― lag∞n, Friday, 23 December 2022 19:19 (one year ago) link
https://www.nbcnews.com/tech/crypto/north-dimension-ftx-bankman-fried-rcna63175
― 龜, Tuesday, 27 December 2022 20:13 (one year ago) link
crypto put a nice twist on wash trading instead of doing it to dump which requires someone to actually buy you can just borrow against your pumped token and use the money to buy other stuff
"By being on both sides of the transaction, Eisenberg artificially inflated the price of MNGO relative to USDC, allowing him to borrow and then withdraw $110 million of different cryptocurrencies..." https://t.co/IzigqgZ8Dw— Matt Novak (@paleofuture) December 28, 2022
― lag∞n, Wednesday, 28 December 2022 00:46 (one year ago) link
I kinda feel like if you loan someone millions of dollars with their cryptocurrency as collateral, you deserve to get ripped off
― Piven After Midnight (The Yellow Kid), Wednesday, 28 December 2022 00:53 (one year ago) link
I suspect the Fed would agree
― G. D’Arcy Cheesewright (silby), Wednesday, 28 December 2022 01:09 (one year ago) link
I believe all of our actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they are.— Avraham Eisenberg (@avi_eisen) October 15, 2022
― lag∞n, Wednesday, 28 December 2022 01:49 (one year ago) link
criminal mastermind pic.twitter.com/O2QBBu84l1— web3 is going just great (@web3isgreat) December 28, 2022
― lag∞n, Wednesday, 28 December 2022 01:53 (one year ago) link
I feel like these dudes might actually believe their own bullshit?
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Wednesday, 28 December 2022 02:21 (one year ago) link
they really do lol
― lag∞n, Wednesday, 28 December 2022 02:24 (one year ago) link
def some industry wide feeling that it was a crimes are legal zone, but really the feds were just slow to get to work
― lag∞n, Wednesday, 28 December 2022 02:26 (one year ago) link
*fake Matt Levine voice* If someone exploited a vulnerability in the Charles Schwab website to execute a nine figure trade with other people’s money and then tweeted that they believed their actions were using the protocol as designed, the FBI might be busy laughing for the few crucial minutes necessary for you to board your flight for Venezuela.
― G. D’Arcy Cheesewright (silby), Wednesday, 28 December 2022 02:30 (one year ago) link
lol
― lag∞n, Wednesday, 28 December 2022 02:32 (one year ago) link
JUST IN: SBF to enter plea deal in FTX fraud case, Reuters reports.— Watcher.Guru (@WatcherGuru) December 28, 2022
― lag∞n, Wednesday, 28 December 2022 18:54 (one year ago) link
Looks like it's a plea, not a deal.
― Unfairport Convention (PBKR), Wednesday, 28 December 2022 19:51 (one year ago) link
SBF pleads for just one more chance to make it right, baby
― Karl Malone, Wednesday, 28 December 2022 19:57 (one year ago) link
When you are CEO and face of the org, and your #2 and #3 (I guess) have already flipped, I'm not sure who he could even flip on at this point.
― Unfairport Convention (PBKR), Wednesday, 28 December 2022 20:10 (one year ago) link
if only they had designed bitcoins to be flipped
― “Cheeky cheeky!” she trills, nearly demolishing a roadside post (forksclovetofu), Wednesday, 28 December 2022 20:19 (one year ago) link
he can name all the VCs in the "let's go crazy doing the financial crimes we describe in detail in the chat group" chat group
― mark s, Wednesday, 28 December 2022 20:37 (one year ago) link
I'm not sure who he could even flip on at this point.
matt yglesias
― mookieproof, Wednesday, 28 December 2022 20:43 (one year ago) link
― mark s, Wednesday, December 28, 2022 3:37 PM (twenty-four minutes ago) bookmarkflaglink
I must have missed this chat group where the VCs admitted to doing financial crimes, but I am extremely skeptical VC-types have anything to worry about.
― Unfairport Convention (PBKR), Wednesday, 28 December 2022 21:05 (one year ago) link
he defiantly did crimes with the tether org, are his prosecutors interested in tethers crimes, idk probably tether is bigger than ftx and is at the root of a lot of crypto mischief, im sure theyd listen if he had things to say about vcs and various other crypto characters but tether is the one
― lag∞n, Wednesday, 28 December 2022 21:15 (one year ago) link
could be the other ftx execs who flipped already gave up all that info tho
― lag∞n, Wednesday, 28 December 2022 21:18 (one year ago) link
the straw donations thing should probably be run down but won’t
― mh, Wednesday, 28 December 2022 23:11 (one year ago) link
The vc thing seems like a kill one person (murder) v. kill a million ppl (king) thing. I'm pretty sure the buck is going to stop at SBF.
― Unfairport Convention (PBKR), Thursday, 29 December 2022 03:22 (one year ago) link