Roger, I've always viewed crypto as a currency. I understand that it has no "full faith and credit" behind it, but I still see more similarities between forex brokers and crypto mavens (than differences). I also agree that Warren, Gensler, and the CFTC should be all over this issue.
Long Term Capital came to mind as I watched Sorkin’s interview with Sam: More hubris than malice. Thoughts? You are the perfect person to compare the demise of FTX and LTC!
"Two Estonian men arrested in their nation’s capital were charged in the US with defrauding hundreds of thousands of people worldwide in a $575 million cryptocurrency fraud and money-laundering conspiracy." ... "“The size and scope of the alleged scheme is truly astounding,” said Seattle US Attorney Nick Brown...."
The above quotes were published in a Bloomberg-dot-com blip (less of an article and more of footnote in length really) today by "By Joel Rosenblatt November 21, 2022, 1:03 PM MST." These 'stories' barely even merit a mention now that their ilk have been informing yEAR after yEAR all who would bother to listen.
So much for 'due diligence' by the 'best and brightest' Hedge Funds, Banks, Asset Managers, Pension Funds, and some vast unknown number of other dupes large and small. Cynical I am? or is it really yet another indictment of how uselessly reactive outfits like the SEC are if they couldn't see the Crypto and SPAC crime sprees coming? Oh wait! what types of firms share the hiring revolving door with the SEC-types? Never mind ...
Investing in the future possibility of Fusion Energy is probably a better idea than investing in crypto coins.
If crypto is a "slot machine", why give it the imprimatur that comes with regulation?
Roger, I've always viewed crypto as a currency. I understand that it has no "full faith and credit" behind it, but I still see more similarities between forex brokers and crypto mavens (than differences). I also agree that Warren, Gensler, and the CFTC should be all over this issue.
Long Term Capital came to mind as I watched Sorkin’s interview with Sam: More hubris than malice. Thoughts? You are the perfect person to compare the demise of FTX and LTC!
"Two Estonian men arrested in their nation’s capital were charged in the US with defrauding hundreds of thousands of people worldwide in a $575 million cryptocurrency fraud and money-laundering conspiracy." ... "“The size and scope of the alleged scheme is truly astounding,” said Seattle US Attorney Nick Brown...."
The above quotes were published in a Bloomberg-dot-com blip (less of an article and more of footnote in length really) today by "By Joel Rosenblatt November 21, 2022, 1:03 PM MST." These 'stories' barely even merit a mention now that their ilk have been informing yEAR after yEAR all who would bother to listen.
So much for 'due diligence' by the 'best and brightest' Hedge Funds, Banks, Asset Managers, Pension Funds, and some vast unknown number of other dupes large and small. Cynical I am? or is it really yet another indictment of how uselessly reactive outfits like the SEC are if they couldn't see the Crypto and SPAC crime sprees coming? Oh wait! what types of firms share the hiring revolving door with the SEC-types? Never mind ...