The SEC is stuck in Binance's "house of mirrors", SBF's parents are officially defendants now, and a Hong Kong crypto exchange hurtles towards collapse.
My favorite snippet:
"Faruk Fatih Özer, who was sentenced earlier this month in Turkey to 11,196 years in prison over his $2 billion crypto exit scam..."
I don't know if Turkey offers time off for good behavior. Even if they reduced his sentence by 11,000 years it wouldn't help. Gosh!
Thanks Molly--this stuff makes sci fi look dull and drab so it's good to have a guide.
The JPEX thing made me curious about how many crypto exchanges existed. I googled and the best answer I got was "hundreds". There are 60 stock exchanges worldwide. I could only find a list of nine commodities exchanges. Why does there need to be so many crypto exchanges? Are the exchanges themselves as sketchy (and fraudulent) as the absurd abundance of coins and tokens? Who's using them? Is it just hackers, scammers, and money launderers looking for the easiest place to move "money"? And for the exchange operators, some other type of scam, like let's get all the suckers to send us their money then just run - is that the game from the beginning? These are rhetorical questions of course; I've already convinced myself that it's a tad bit sketchy.
Thanks, Molly. Another insightful and entertaining post. As always, your footnotes are especially helpful. Regarding your comment: "Even putting aside the question of whether I could obtain a press pass", it should please you to know that you can indeed obtain a press card -- ours. YU News Service has been dutifully credentialing a growing stable of journalists in the parody arts since 1980. We are happy to waive the application fee and credential you, too. Simply fill out an application and send it our way. Keep causing the usual good trouble. https://www.yunews.com/press-card
Genesis shutting down trading "for...business...reasons" - big Vincent Adultman energy.
The item that caught my eye was the 11,196 year prison sentence. I think it's a harbinger of things to come after the life extension movement starts achieving success. What's the point of a 20 year sentence if someone is going to live to be 50,000?
Great summary, longer posts are extra appreciated!
A veritable clinic.
I suppose they did select for a customer base of "people who are willing to pay a lot for something worth almost nothing".
No, taking adderall is no causation for having ADHD but who knows, some take pills because they are ill, others take pills and become ill.
I do love a bumper edition, because that usually means more scumbags being caught.
SBF's mummy and daddy being heavily involved in his shonkiness is just icing on the cake.