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Comment by lvass | Hacker News Reader

>So it doesnt matter whether we get records from exchanges

It matters a lot. The rumor mill has it LFG directly rescued a few whales in the first sign of crisis. This is a very serious accusation I'd urge no one proclaim without definite proof.

If they concentrated their usage of the reserves to keep the peg earlier, possibly anyone selling below $1 would take an immediate loss and no noticeable depeg would even happen. The way it was handled is extremely useful information to markets and particularly to market makers.

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> The rumor mill has it LFG directly rescued a few whales in the first sign of crisis. This is a very serious accusation I'd urge no one proclaim without definite proof.

What would it change to have that information? Afaict none of this is regulated in any regard so if that happened, would there be any impact what so ever?

> Afaict none of this is regulated in any regard

I'm not saying they're applicable here - but off the top of my head, money laundering, taxes, and fraud regulations still apply to crypto (at least in the US). The moneylaundering/taxes are rather explicitly stated, the fraud regulations apply regardless of what the thing is.

> Afaict none of this is regulated in any regard so if that happened, would there be any impact what so ever?

Many laws and regulations that were written before cryptocurrency existed still apply to cryptocurrency.

People can't do an end-run around existing laws by wrapping crimes in cryptocurrencies and pretending laws don't apply to them.

Apply but aren’t enforced

In Singapore? Maybe that's not where some relevant parties are. I'm not a lawyer. I'm sure there are more things in this world that can cause impact besides existing regulation though.

> Nothing different would happen. People want to see Do Kwon have more reasons to have charges against him

This argument (rescued whales, could have rescued the coin) is just naive people failing to face they were scammed.

There's no way they could've saved it.

Crypto is supposed to be an anti central bank currency.

This is the worst central bank any type of currency could ever have.

What's the point? There was never a real "market" in any meaningful sense. Since the beginning it was always a fake scam to separate suckers from their real (fiat) money. A combination of Ponzi scheme and shell game.

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