The anti-crypto thread

[BFG10K]

Great news, crypto's collapsing across the board: https://www.techpowerup.com/282380/...ions-in-less-than-24-hours-did-the-bubble-pop

Also China's banned crypto, though individuals can still have it: https://finance.yahoo.com/news/chinese-financial-payment-bodies-barred-122712260.html

The sooner this cancerous parasite is wiped out, the better.

 

[KMFJD]

https://twitter.com/x/status/1602318806818463744

That would be terrible....

 

[K1052]

SBF was arrested by authorities in the Bahamas at the request of the US government.

https://twitter.com/x/status/1602448748109512704

 

[AdamK47]

From crypto darling to someone's soon-to-be prison darling.

 

[dullard]

Can Binance handle a large withdrawal? A "bank" run was the last straw for several other crypto firms. What will 1.9 billion withdrawn in a day do to Binance?

Binance withdrawals hit $1.9 bln in 24 hours, data firm says

Binance has registered $1.9 billion of withdrawals in the past 24 hours, blockchain data firm Nansen said on Tuesday, as the world's biggest crypto exchange said it had "temporarily paused" withdrawals of the USDC stablecoin.

www.reuters.com

 

[Noid]

Can Binance handle a large withdrawal? A "bank" run was the last straw for several other crypto firms. What will 1.9 billion withdrawn in a day do to Binance?

Binance withdrawals hit $1.9 bln in 24 hours, data firm says

Binance has registered $1.9 billion of withdrawals in the past 24 hours, blockchain data firm Nansen said on Tuesday, as the world's biggest crypto exchange said it had "temporarily paused" withdrawals of the USDC stablecoin.

www.reuters.com

In the 80's I was a federal employee who's task was to convert savings and loans computer systems to the governments liquidation system.

The " takeovers " were supposed to be secret.

Otherwise, a " run for assets " on the bank. Dealing with the general public on a government financial institution closure is no easy task.

Crypto is not government " backed ".

There is no " safety net "

 

[AdamK47]

In the 80's I was a federal employee who's task was to convert savings and loans computer systems to the governments liquidation system.

The " takeovers " were supposed to be secret.

Otherwise, a " run for assets " on the bank. Dealing with the general public on a government financial institution closure is no easy task.

Crypto is not government " backed ".

There is no " safety net "

A Binance spokesman stated ""We always have more than enough funds to fulfil withdrawal requests".

That statement is just as good as FDIC insured.

 

[IronWing]

In the 80's I was a federal employee who's task was to convert savings and loans computer systems to the governments liquidation system.

The " takeovers " were supposed to be secret.

Otherwise, a " run for assets " on the bank. Dealing with the general public on a government financial institution closure is no easy task.

Crypto is not government " backed ".

There is no " safety net "

The This American Life program did a episode on an FDIC take over of a bank during the 2008 crisis. It was amazing how fast it happened. Identify issue, make decision, find receiver bank, physically take over bank, review records, start writing checks for insured deposits, turn over remaining accounts to receiver bank, all over a single weekend.

 

[Lost_in_the_HTTP]

Hope he had fun ....

FTX owned $256 million of Bahamas real estate including 15 condos in the same building, and the government wants it back

YAHOO!Finance on MSN.com|6 hours ago
The most expensive property in the documents is $30 million, suggesting that the Bahamas is trying to claim Sam Bankman-Fried's penthouse.

Inside Sam Bankman-Fried's $256.3M Bahamas property empire that the island nation is now trying to claw back - telling bankruptcy court that allowing them to be administered by ...

Daily Mail on MSN.com|3 hours ago
The spectacular collapse of crypto exchange FTX has left behind a tangled web of Bahamas real estate holdings tied to the company, its founder Sam Bankman-Fried, and others in his inner circle.


His new digs may be a bit more .... confining.

 

[Noid]

" A Binance spokesman stated " = "That statement is just as good as FDIC insured. "

I'm still snickering at this ...

 

[Noid]

The This American Life program did a episode on an FDIC take over of a bank during the 2008 crisis. It was amazing how fast it happened. Identify issue, make decision, find receiver bank, physically take over bank, review records, start writing checks for insured deposits, turn over remaining accounts to receiver bank, all over a single weekend.

Was doing this for 5 years until they moved my office to another city.
No easy task in the 80's with Lotus spreadsheets, Dbase3, multiple OS systems, and written ledgers.
Yeah, we didn't want to be there any longer than possible. Afterall, we were living at the local hotels, and eating the local restaurants.
We had deadlines, but not over a weekend. At minimum 2 weeks at my office.
Usually depended on the size of the institution.

 

[VirtualLarry]

BitBoy crypto did a video in the Bahamas airport, stating that SBF HAS been arrested and taken into custody, subject to an extradition to the US, to face charges.

One interesting thing that he pointed out, that I believe is true... because he hob-knobbed with Politicians, he is now a source of embarrassment to them. And they don't like that.

For an example of a relationship gone sour, look at what happened to Epstein.

 

[Lost_in_the_HTTP]

^^^ Based on your first paragraph, it seems that you didn't believe multiple news and government sources until you saw some video from some guy?

 

[VirtualLarry]

^^^ Based on your first paragraph, it seems that you didn't believe multiple news and government sources until you saw some video from some guy?

How's FedEx treating you lately? Answered those subpoenas from your ex yet?

 

[darkswordsman17]

I like how celebrities whom were admittedly paid to do ads for the crypto bros are being targeted too. Apparently celebrities need to perform “due diligence” about what ads they endorse, as in they need to ensure the product they appear with are at least reasonable legit.

They definitely do. And they're not just doing ads, they're getting direct compensation in these companies (not just usual payment for doing ads) and/or are investing in this stuff. That definitely will run them afoul of regulations and we're seeing exactly why that's the case. There was a LOT of scummy/scammy behavior going on and they really should have known better. While low level OF/influencers/social media people will hopefully face scrutiny as this has been a recurring issue and they very often for sure know they're partaking in scams. But these A-list people need better lawyers and/or need to learn to be a bit more scrupulous or else face the consequences. This isn't the first time they've had issues like this. See when people like the sons of horrible dictators were paying insane money for private concerts/parties done by celebrities. They have to know something is up if someone is offering several million dollars for a private party or personal concert. But they did it because money.

Hopefully more than anything though it highlights how f'ing ridiculous advertising/marketing is and how its becoming even worse. Its literally the reason why people like Alex Jones are spewing hateful shit that is causing people to commit acts of terrorism. They just want money and fame and power, and they don't really care. Hell Jones literally fucking used that as his argument for why he shouldn't be held responsible for telling his listeners to harass and attack people, like the parents of murdered children. And as long as we keep letting others get away with "I didn't know" defenses then its gonna keep happening.

 

[dullard]

And as long as we keep letting others get away with "I didn't know" defenses then its gonna keep happening.

The solution would be to have gross negligence as a business person be punished more than simple scam punishments. Right now people can "lose" 10 billion, only to have it show up in their parent's accounts and their side trading accounts and claim ignorance. If you are the head of a company responsible for millions of people's money and are ignorant about where that money goes, then that itself should be a serious crime.

Until then, you'll see case after case of CEOs claiming to not remember key details about the company they run.

 

[Noid]

Too many celebs involved in this ... and thrown in our faces during major sport event commercials. Targeted audiences. TV scan codes.

I can see the draw .. but I still never bit on any of this.

Reminds me of the early days of online gambling.

 

[IronWing]

Too many celebs involved in this ... and thrown in our faces during major sport event commercials. Targeted audiences. TV scan codes.

I can see the draw .. but I still never bit on any of this.

Reminds me of the early days of online gambling.

It is online gambling.

 

[sportage]

I'd like to see some of those bankers responsible for the 2008 housing crash, the crash where taxpayers paid trillions to bail out the US government, I'd like to see some of those bankers held accountable for their crimes and theft. The feds are all over the crypto thieves, but hey US government.... how about those banks and their CEO's? How about Alan Greenspan? Can't the feds treat Alan Greenspan as they treat crypto Sam? That would be nice for a change. Lets see Alan Greenspan arrested and tossed in jail. Why did that not happen?

 

[Mai72]

The FTX scandel can't end well for crypto. We are going to see regulatiions very shortly. Which is needed I guess. How many more shite coins do we need?

These people need to be prosecuted.

 

[dullard]

Lets see Alan Greenspan arrested and tossed in jail. Why did that not happen?

Greenspan did not accept anyone's money, illegally embezzle it, lose it, and then claim to not know what happened. He didn't break any relevant laws at all.

Just because you might not like interest rates being changed does not make it a crime.

 

[VirtualLarry]

https://www.yahoo.com/entertainment/were-f-robbing-idiots-eight-201000880.html

Not crypto-specific, but charges against some youtube "influencers" for (alleged) stock pump-and-dump scams.

Note their desire to get into "the anti-vaxx scene" at the end of the article. (Must be full of juicy grifting opportunities, when dumb-mules abound.)

 

[AdamK47]

https://www.yahoo.com/entertainment/were-f-robbing-idiots-eight-201000880.html

Not crypto-specific, but charges against some youtube "influencers" for (alleged) stock pump-and-dump scams.

Note their desire to get into "the anti-vaxx scene" at the end of the article. (Must be full of juicy grifting opportunities, when dumb-mules abound.)

I look at their Twitter profiles and wonder who is taking advice from these "bro dudes". Then I attempt to read the slack jawed gibberish comments and begin to understand.

 

[darkswordsman17]

I look at their Twitter profiles and wonder who is taking advice from these "bro dudes". Then I attempt to read the slack jawed gibberish comments and begin to understand.

Well that and they target kids a lot.

 

[Heartbreaker]

Trump's launches NFT scam on his followers. 4.5 Million not for his campaign, but for his pocket.

If makes sense that a lifelong grifter like Trump would scam people with crypto.

Donald Trump teases a "major announcement" that's just NFTs

It's finally happened. The siren song of NFT grifting proved too much for Donald Trump.Trump supporters got all excited when Trump posted on social media to tease a "major announcement". Was he going to run for speaker of the House? Return to Twitter? Unveil a presidential running mate?His...

web3isgoinggreat.com

 

[Lost_in_the_HTTP]

Yup, real super secure .....


Ohio Man Who Posed in Tub Full of Cash to Plead Guilty in Bitcoin Theft Case

Bloomberg L.P.|8 hours ago
An Ohio man who posed in a tub full of cash is scheduled to plead guilty after he was charged with remotely stealing Bitcoin stored on a computer device the government seized in a case against his older brother.


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