SBF would like to disagree about what?
I'm sure SBF would agree that the lawsuits filed by the SEC against Binance and Coinbase are not criminal cases.
Litigation against Binance
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SBF would like to disagree about what?
I'm sure SBF would agree that the lawsuits filed by the SEC against Binance and Coinbase are not criminal cases.
Yes, SBF is under house arrest.
No, the house arrest is not associated in any way with a lawsuit filed by the SEC.
SBF was charged with criminal offenses in an eight-count indictment by the US Attorney for the Southern District of New York. That case is completely separate from any action brought by the SEC.
Haven't you seen Billions?
I have attached copies of the criminal indictment and two complaints filed by the SEC. In the two cases filed by the SEC, each complaint is clearly identified in the caption as a civil action.
In the USA, a civil case cannot result in jail time.
Occasionally, a litigant, witness or attorney may land in jail in a contempt of court proceeding. But that is a collateral proceeding that arises out of failure to comply with a court order.
In the USA, civil lawsuits do not put people in jail. The system doesn't work that way.
No criminal charges have yet been announced in connection with Binance or Coinbase.
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SEC case against XRP (Ripple) is over 5 years old
Conflating SBF with CZ is either malicious or retarded stupid. There's no middleground
SBF stole billions of $ from private investors. SBF stole billions of $ worth of crypto assets from users/customers of the FTX exchange. SBF is a low life scammer thief. That's why he got arrested
SBF was also having private sex meetings with Goldman Gary that to this day we don't know the details of, but that is not against SEC rules so he did not get in trouble for those
For everyone saying Binance is insolvent, here's a few facts
Binance is very profitable, every single month, they pay their expenses with cash from their treasury and and then they have profits after everything
Binance has no loans. CZ has an open challenge to anyone that he will give you $50K if you can provide proof of a bank loan or any loan that Binance has
@mervyn
If you are trying to make a very broad, general argument that in the near future, criminal charges are likely to follow the SEC enforcement actions against Binance and Coinbase... well, that might be a reasonable opinion.
But if you actually believe that the prinicpals of Binance and Coinbase could be arrested and jailed in connection with the civil lawsuits that were filed yesterday and today by the SEC, that is simply not true. Civil lawsuits do not result in jail time in the USA.
I have attached the two lawsuits filed by the SEC. They are both over 100 pages long. They each identify many different federal securities laws, and they allege that Binance and Coinbase violated those laws. If you look up those laws, none of them have jail time as a potential penalty.
for one, the government will squeeze the guys for the money as civil settlement. second, their executives international travel plan will be put on hold, they just don’t know if they will be extradited at any airports or not. third, next is money laundering charge, that’s easy one, for helping Russians evade sanctions, we just don’t know what DOJ is working on.
Actually, I don't believe it's illegal for the backwards citizens of America to trade options through the Montreal exchange. You can use the chains of the underlying ETFs on the Toronto Exchange that way, including the Bitcoin & Ethereum ETFs.
In fact, I believe you could even purchase the SPOT crypto ETFs and have them settled in your registered accounts (Not fully sure here, but let me know how it goes).