I hope that swiftness of these charges will slightly diminish all these voices that keep repeating everywhere that 'the man' is on it with him, that the media defend him etc.
At rock bottom the crypto world is held up by unadulterated greed and it shows on both ends: I am willing to make too-good-to-be-true “investments” because greed; when that unfolds the obvious way it was going to then it’s someone else’s fault and they’re not moving fast enough — also greed.
In short: “Why aren’t I rich yet, I’ll speculate” -> “why aren’t I whole yet, I’ll speculate again!”
That's not quite what the grandparent poster was talking about.
One strain of thought on FTX/SBF has been conspiratorial. Allegedly, SBF was "a big Democratic donor" with connections in high places, so he would evade any serious US-based law enforcement action.
This view is likely related to FTX's (previous) attempts to present itself as the lawful-good crypto exchange, actively lobbying for US regulation. Such efforts necessarily come with a lot of political deal-making, making the idea of a corrupt bargain more superficially plausible.
I think a lot of people are in the second camp, but dress it up as the first. It's funny how tons of people who claim "I'm here for the tech, hodl" get mad whenever somebody shorts their coin or the price goes down
I don't any have any cent invested in all this crypto madness, but I would have expected bigger fish to fry as a result of all this shitshow.
For example the head of SEC itself to fall [1]. Or maybe the VC industry itself to see material consequences of its amateur-hour due-diligence, and I'm not talking about the couple of hundred million of not their money that Sequoia lost on this, but of withdrawals worth tens of billions out of an industry that is run by know-nothings (and who know-nothings bring our industry down as a whole as a result of their shitty resource allocation).
[1] https://twitter.com/EpsilonTheory/status/1591182630942539776
Nah. Now they switched to "doing this fast to protect the big names/rich people".
You never win.
I noticed the behavior living in oil country concerning gas prices. When gas prices go up, that's bad because it makes everything costs more. When gas prices go down, that's bad because it makes the oil and gas industry fire everyone and then no one has jobs.
Apparently there's a Platonic ideal price for gas, just no one can tell me what that is.
Also with various shootings. Right after, it's too soon to talk about current gun laws. Too long after, it's pointless to talk about because there hasn't been an incident in so long. We missed the window yet again. But no one will tell us when that window opens.
Same thing here, apparently there's a perfect amount of time for charges. The Goldilocks zone, the golden hour, when the planets align and you can charge criminals for crimes and you'll magically have enough evidence and not too much time has passed. But try to pin down anyone on a concrete time frame and you'll get almost as much deflection as SBF tried to give the world.