Actually it would be a good thing if SBF didn’t go to jail, because then people would not trust crypto firms and businesses anymore, keep BTC in self custody and rely more p2p exchange. It could be only good for Bitcoin.
If you put your money on an unregulated exchange in a foreign tax haven, the government has limited motivation to get it back for you. They also have limited authority since you bought crypto with dollars. If he has simply stolen your dollars, that would be one thing. But you exchanged dollars for whatever token… and he subsequently stole your tokens. But it’s unclear what tokens are. Are they a security? It’s illegal to steal those. But there’s no agreement about that. If a crypto isn’t a security or a commodity, then there would have to be a law explicitly saying that stealing crypto ( an independent thing that’s neither a security or a commodity) is against the law. Even if they settle on “tokens are securities” now, there’s the issue that the government can’t prosecute laws ex post facto. They might be able to convict SBF, but I bet zero people get any money back.
Theranos executives are just now getting sentenced. Enron executives were charged 5 years after the collapse.
The bankruptcy case just got transferred to Delaware so US agencies are just now getting access to the books. The books are a mess.
They have to determine the standing, jurisdiction, crimes committed, the extent of the crimes, the culpable parties etc. Then they have get SBF and accomplices extradited to the US.
Why do people imagine any of this is fast or easy? Rush the process and SBF could beat the charges or get a slap on the wrist.
“Top” men!
Like Bernie Madoff, he needs to turn himself in or they’ll never catch him.
He was the financial arm of the democrat party for 2022. That was insurance.
I hope that maybe one good thing comes out of this, meaning more people seeing the true nature of the corporate press and the government
What crime did he commit?
Just doing what every other US-centric company is doing. Only he was on too much meth to manage the margins.
Leads? Leads?
Who?
Actually it would be a good thing if SBF didn’t go to jail, because then people would not trust crypto firms and businesses anymore, keep BTC in self custody and rely more p2p exchange. It could be only good for Bitcoin.
SBF is in the bahamas. Great place to hide out & stash money!
Because he’s in a country and we can’t go arresting people in other countries
If you put your money on an unregulated exchange in a foreign tax haven, the government has limited motivation to get it back for you. They also have limited authority since you bought crypto with dollars. If he has simply stolen your dollars, that would be one thing. But you exchanged dollars for whatever token… and he subsequently stole your tokens. But it’s unclear what tokens are. Are they a security? It’s illegal to steal those. But there’s no agreement about that. If a crypto isn’t a security or a commodity, then there would have to be a law explicitly saying that stealing crypto ( an independent thing that’s neither a security or a commodity) is against the law. Even if they settle on “tokens are securities” now, there’s the issue that the government can’t prosecute laws ex post facto. They might be able to convict SBF, but I bet zero people get any money back.
top
.
.
.
.
.
.
.
men
The end goal isn’t jail. The end goal is prison.
Jail is where you go when you’ve just been detained, are being processed, awaiting trial, or being tried. Prison is where you after you are sentenced.
The US government wants to make sure the fucker gets a long sentence. So they have to collect evidence and build a case. That takes time.
On the bright side, this will give SBF a false sense of security. As soon as the Feds are ready to go, though, he’s doomed.
If he’s a black man, a different case entirely
he will go definitely
He’s not wrong… Top politicians in Sams pocket alright
Theranos executives are just now getting sentenced. Enron executives were charged 5 years after the collapse.
The bankruptcy case just got transferred to Delaware so US agencies are just now getting access to the books. The books are a mess.
They have to determine the standing, jurisdiction, crimes committed, the extent of the crimes, the culpable parties etc. Then they have get SBF and accomplices extradited to the US.
Why do people imagine any of this is fast or easy? Rush the process and SBF could beat the charges or get a slap on the wrist.