SBF jailed
- Thread starter Pekelo
- Start date
I won't judge his book until I read it first. I did enjoy 'Flash Boys' quite a bit, and it was very educational to me at the time. But I remember complaints about it being one of his most poorly written books... inaccurate facts, or something to that effect.
Review of the book:
https://www.nytimes.com/2023/10/02/...ytcore-ios-share&referringSource=articleShare
"....how a friend who was about to close a deal with Bankman-Fried had asked Lewis to look into him. After his first meeting with Bankman-Fried at the end of 2021, Lewis says, he “was totally sold.” He called up his friend: “Go for it! Swap shares with Sam Bankman-Fried! Do whatever he wants to do! What could possibly go wrong?”"
With friends like this...
https://www.nytimes.com/2023/10/02/...ytcore-ios-share&referringSource=articleShare
"....how a friend who was about to close a deal with Bankman-Fried had asked Lewis to look into him. After his first meeting with Bankman-Fried at the end of 2021, Lewis says, he “was totally sold.” He called up his friend: “Go for it! Swap shares with Sam Bankman-Fried! Do whatever he wants to do! What could possibly go wrong?”"
With friends like this...
It’s Sam Bankman-Fried’s Trial. But It’s Crypto’s Colonoscopy.
So much more than the disgraced CEO’s fate is at stake.
https://slate.com/technology/2023/10/sbf-trial-ftx-alameda-cryptocurrency-reckoning.html
So much more than the disgraced CEO’s fate is at stake.
https://slate.com/technology/2023/10/sbf-trial-ftx-alameda-cryptocurrency-reckoning.html
OK, Lewis is officially dead to me. Last night on MSNBC:
"Its promise has not been realized. In the future it would not be shocking if blockchain is used in all of financial transactions."
"Its promise has not been realized. In the future it would not be shocking if blockchain is used in all of financial transactions."
Remind Me, What Exactly Is SBF Charged With?
A guide to his seven (for now) alleged sins.
https://slate.com/technology/2023/1...harges-fraud-conspiracy-money-laundering.html
A guide to his seven (for now) alleged sins.
https://slate.com/technology/2023/1...harges-fraud-conspiracy-money-laundering.html
I have not even started to look at today's shenanigans. But I am expecting Lewis' book to be his biggest block-busting seller. Far more than any of his fiat-based novels.
I got his new book on Tuesday -- downloaded on my Kindle -- I am about halfway through it. It is an interesting read -- showing the mindset of SBF and the crowd he ran with. IMO the end result is not surprising when you have a company with no HR department, no board of directors, no risk control, no financial controls, etc. and a leader who has no management skills whatsoever (who doesn't want to manage). All the "effective altruist" stuff was interesting as well.
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The morons at Altameda thoughtn crypto only goes up, and it was even peachy for a while. Then reality stroke, and they started to lose money and that is when they dipped into customers' funds.
A tale as old as brokerages...
One would think that owning a casi.. I mean brokerage is a license to print money, but apparently the spread is just not enough to make the profits. I don't think Bitfinex is profitable anymore thus the huge lay off...
A tale as old as brokerages...
One would think that owning a casi.. I mean brokerage is a license to print money, but apparently the spread is just not enough to make the profits. I don't think Bitfinex is profitable anymore thus the huge lay off...