SBF arrested

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I mentioned on a different thread how I thought SBF seemed a lot like Bernie Madoff.
 
Bet he issues some bribes with all that BTC he looted, and skips to a non-extradition jurisdiction.
 
I think someone from SBF inner circle ratted Sam out. Saw an article come out recently about SBF having a group chat with his inner circle named "Wirefraud"
 
bartosimpsonio said:
https://twitter.com/x/status/1602467998450819072


Crypto is healing
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This does not mean much. This is not China nor Russia. SBF is innocent till proven guilty :) In any case, it is never a good idea to leave your crypto with an exchange that is not government regulated. The temptation to cheat is simply too hard to resist.

Quote"
The presumption of innocence until proven guilty means that the burden of proof is always on the government to satisfy you that [defendant] is guilty of the crime with which [he/she] is charged beyond a reasonable doubt. The law does not require that the government prove guilt beyond all possible doubt; proof beyond a reasonable doubt is sufficient to convict. This burden never shifts to [defendant]. It is always the government's burden to prove each of the elements of the crime charged beyond a reasonable doubt by the evidence and the reasonable inferences to be drawn from that evidence. [Defendant] has the right to rely upon the failure or inability of the government to establish beyond a reasonable doubt any essential element of a crime charged against [him/her].

"Unquote ~ source: https://www.mad.uscourts.gov/
 
BassTrackerBoats said:
It actually means a lot... 7/8/9 figures in USD a lot.

And I bet I'm underestimating.

Plus he may have some bad dreams about all this.
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Ethically, it is a lot of money lost. But it seems like
Cypherpunk Zero #4027 said:
It's about god damn time! I don't understand how he was free for so long.


Wait, what Binance scandal?
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Binance and CZ are being investigated for money laundering. But this is not going to hurt Binance much. What's going to hurt them is the lost of trust in Centralized exchanges. Meaning, no more making free money off client's money. If everyone starts to self custodian, centralize exchange is going to lose a very big bulk of profits.
 
Cypherpunk Zero #4027 said:
But was it proven? Do they have proof? As far as I'm aware you can investigate anyone, that doesn't mean much.
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Yup, laws in USA are innocent till proven guilty. So Binance/ CZ is basically innocent at this stage. As I say, the legal issue is not going to cause much pain to CZ nor binance. What's going to kill them is the lost of trust with centralized exchanged. Meaning, they can kiss those fancy financial derivatives that yield big profits good bye..as well as free money from sitting on clients fund..
 
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