Hope SBF looks good in a jump suit! Writing for years on how bogus and full of theft the unregulated world of Crypto is, very recent events delight me. The long arm of the law came down on Sam Bankman-Fried’s throat. (is the name ‘Bankman’ for real?)
To keep my joy fact-full and not gleeful, I’ll include links to the professionals dissecting the facts for us.
What’s surprising to me is a selection of peers only took eight hours to decide his behavior and siphoning theft of money was garden variety manipulation and fraud.
The Venture Capitol bankrolling the start-up should have seen through this. Venture capitol attracts some of the brightest minds in business. Wouldn’t you think they’d make better decisions?
So, all those millions are lost from the hands of regular folks. Greed conned them into the “dream” turned into the ‘nightmare on Bankman Street’! Now they get to watch while only the appeals lawyers get rich.
Stick with legitimate, regulated stock, commodity and futures trading. Don’t ignore currency trading. The U.S. dollar is never going to zero!