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#ftx

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GOP Majority Whip #TomEmmer, the man who wrote angry letters to the #SEC demanding that they stop bothering an innovative company like #FTX back in 2022, believes that the US government will be buying 1 million bitcoins for a price equivalent to 10-20% of the US defense budget for the “#StrategicBitcoinReserve” before the end of this session of Congress.

Here he is kissing Sam Bankman-Fried's ass on the floor of the US #Congress a few years ago: youtube.com/watch?v=MpIPlb7mYT

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@lxo @mudaste

"Povolotski: This isn't $20. This is not $100 million. This is like 200 to— this is #FTX type of shit.
Chow: Fucking hell, man. I feel sick… This is, this is, this is, this is #SBF level, man.
Later in the call, Povolotski reiterates: “This is in the multi-millions with a president, two presidents, one with his wife and the other is a president. Like, this is... I don't know anyone higher.”
#crypto #cryptoscam #Milei #Argentina
citationneeded.news/issue-77/

Citation Needed · Issue 77 – Whenever presidents get involved, if they become angry, you don't want to be there
More from Molly White
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@jab01701mid yeah i'm surprised that they agreed to turn over the notes, but i suspect there's a lot more to the story behind that footnote that we will learn in due time.

as someone who had the pleasure of observing #DanielleSassoon in action live and and in person during the #SBF / #FTX trial i can attest to the fact that she is an *incredibly* effective communicator. read any of the press about the trial and you will see everyone who watched it observed this to be true. "holy shit that DA Sassoon is fucking crushing this" was like 70% of all discussion during breaks in the trial over in the journalists' section.

darling of the FTX trial #DanielleSassoon (she handled the cross examination of Sam Bankman-Fried) has apparently resigned rather than drop the corruption charges against #EricAdams.

I had a lot to say about Ms. Sassoon on my threads about the SBF trial, which I flew to New York to attend: cryptadamus.substack.com/p/the

tl;dr she was a very, very effective prosecutor.

#FTX#SBF#corruption

Trump's regime = Meritocracy or Plutocracy?

"Stanford Law School Professors Joseph Bankman and Barbara Fried had meetings in recent weeks with lawyers and other figures considered to be in Trump’s orbit about clemency for their 32-year-old son, who was sentenced to 25 years in prison for fraud, the person said. It’s unclear if outreach has been made to the White House.

Bankman and Fried declined to comment. A lawyer for Bankman-Fried, who’s also filed a legal appeal of his 2023 conviction on charges tied to the collapse of his cryptocurrency exchange, didn’t immediately respond to a request for comment. The White House declined to comment.

The president’s swift use of his pardon power, including for Silk Road founder Ross Ulbricht, has encouraged a rush among white-collar defendants eager to put their case before Trump.
In seeking Trump’s mercy, Bankman-Fried — who went from industry darling to villain overnight — would be appealing to a man who went from crypto skeptic to booster. The crypto industry and the libertarian movement strongly advocated for a pardon for Ulbricht, who was serving a life sentence for drug-trafficking and money-laundering that occurred on his site."

bloomberg.com/news/articles/20

Bloomberg · Sam Bankman-Fried’s Parents Explore Seeking Trump Pardon for SonBy Ava Benny-Morrison
#USA#Trump#Crypto
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@GottaLaff the crypto bros are big mad about the collapse of #Silvergate and Signature banks (AKA "the big crypto banks"). the conspiracy theory they have about the #FDIC is called "Operation Chokepoint 2.0" if you want to look into it.

(the reality is that Silvergate and Signature banks were massive money laundering hubs, moving literally trillions of dollars a year in untracked funds outside of all money laundering regulations. they were both intimately connected to #FTX)

cc @KimPerales ICYMI

i published this 4 months before Signature Bank collapsed: cryptadamus.substack.com/p/sig

The Cryptocalypse Chronicles · Signature Bank, FTX, Binance, and TrueUSD: A Tale of Questionable JudgementBy Michel de Cryptadamus

Perhaps nobody has spent more to buy a break from public scrutiny than the #crypto industry.

“The crypto guys are just blowing it out,” an anonymous Trump advisor told Axios.
“It used to be $1 million was a big number. Now we’re looking at some folks giving like $10 [million] or $20 million.”

They want a friendly Securities and Exchange Commission.

Venture capitalist and PayPal Mafioso David #Sacks has already been named as a “crypto czar.”

And there’s a pending executive order to name crypto
“a national imperative or priority
— strategic wording intended to guide government agencies to work with the industry,” according to Bloomberg. 

We may even be about to witness our very first presidential meme coin pump-and-dump.

Crypto is good for little besides crime and gambling -- and less regulation means more chances for people to get scammed by the next #FTX.

(Speaking of gambling, #Robinhood donated $2 million to the Trump inaugural fund.)

On top of that, the executive order means a higher likelihood of crypto getting shoveled into new government projects — whether it’s useful or not.

Crypto capture could even extend to soft-pedaling enforcement of the assorted criminal industries that rely on it.

theverge.com/2025/1/20/2434631

The Verge · Welcome to the era of gangster tech regulationBy Elizabeth Lopatto

"In the span of only a few days in November 2024, the FTX bankruptcy estate filed over thirty adversary cases.1 Several target political action committees and non-profits that received hundreds of thousands or millions of dollars from FTX as part of the company’s political influence campaigns and reputation polishing efforts. Others target other cryptocurrency exchanges where Alameda Research or affiliated entities were trading — sometimes secretly — and where account balances haven’t been released back to the bankruptcy estate. Some target FTX customers engaged in criminal behavior. And some target employees, contractors, or business associates of FTX and its entities."

citationneeded.news/not-just-o

Citation Needed · Not just one bad apple: FTX's practices were business as usual in crypto
More from Molly White