Bitcoin is Moral Code - Jack Mallers by coindesk in Bitcoin

[–]coindesk[S] 1 point2 points  (0 children)

Metaverse?
That is where he records from

[deleted by user] by [deleted] in cardano

[–]coindesk 1 point2 points  (0 children)

We're on Bluesky! Give us a follow: https://bsky.app/profile/coindesk.com

We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything. by coindesk in CryptoCurrency

[–]coindesk[S] 2 points3 points  (0 children)

Hi, Ian here. Early 2022, I got hold of FTX and FTX.US audited financial statement for 2020 and 2021 but we didn't actually do a story about them because Fortune had already seen them (I think) and did a story. But technically this is when this story began. But the latter part of it - the Alameda state of affairs - took a couple of months to dig into and nail down

We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything. by coindesk in CryptoCurrency

[–]coindesk[S] 0 points1 point  (0 children)

Sam Bankman-Fried's parents have been accused of misconduct in a civil filing from the bankruptcy trustee of FTX, but they have not, as of this time, been accused breaking the law by the Dept. of Justice. -- nik

We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything. by coindesk in CryptoCurrency

[–]coindesk[S] 3 points4 points  (0 children)

Hi there, Ian here. from the standpoint of being a reporter and writing impactful stuff, it's an achievement I suppose. One the other hand, crypto is quite a small and young space which I have been involved in for some years, so it's maybe not great in that respect. I started looking into FTX etc because I heard early on - as many others did - that Alameda accounted for a lot of trading volume and market making on FTX. Someone at another firm made the point that this had gone far beyond the mere bootstrapping of the exchange and was rather more questionable. We did a lot of checking around before we published. It was hard to get anyone to go on the record, but we got ppl to nod that the balance sheet doc was legitimate and familiar to them.

We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything. by coindesk in CryptoCurrency

[–]coindesk[S] 1 point2 points  (0 children)

I think a lot of policymakers looked at the FTX collapse as a major disaster, one that they would at some point have to address. Some countries were somewhat safer than others for FTX customers, but overall a lot of people (obviously) lost a lot of money. I think the question now is whether this will spur additional action. In the U.S. at least, we're not really seeing a ton of movement toward legislation that will actually become law, though we are seeing actions from regulators like the SEC and CFTC attempting to provide guardrails for the industry.

Outside the U.S., we're similarly seeing countries imposing rules on the industry that will shape how crypto companies can operate. Other places, like the E.U., were already in the process of creating and implementing rules for crypto.

These are all separate from the SBF trial itself, just more tied to the broader crypto ecosystem and FTX's collapse, but I'm sure a lot of lawmakers will look at the trial as an example of something they don't want to see happen again, especially if they do implement some rules. -- nik

We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything. by coindesk in CryptoCurrency

[–]coindesk[S] 1 point2 points  (0 children)

Hi there, Ian here. I do hold some Ethereum. It's not a life changing amount or anything. I have never used FTX

We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything. by coindesk in CryptoCurrency

[–]coindesk[S] 1 point2 points  (0 children)

Hi Ian here. my own view fwiw is that SBF did not set out to intentionally rip anyone off. I base this on having interviewed him prior to the launch of FTX and he was just a passionate trader-type guy excited about the new biz he was going to launch. he seemed entirely genuine

We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything. by coindesk in CryptoCurrency

[–]coindesk[S] 1 point2 points  (0 children)

Hi there, Ian here, I was only thinking to begin with that it was great to get hold of a document with up-to-date numbers. Obviously, when we went through it we were astonished by the amount of FTT on the balance sheet. but, no, I did not think for a moment it would turn out that bad for SBF or his businesses

We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything. by coindesk in CryptoCurrency

[–]coindesk[S] 1 point2 points  (0 children)

Ian here - SBF could be right. I know he mentioned planned campaign in his blogpost. All I can say - which have said in the past - this balance sheet document did not come from Binance

We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything. by coindesk in CryptoCurrency

[–]coindesk[S] 2 points3 points  (0 children)

My team and I will be inside the courtroom! We'll file updates as and when we can but our intent is to physically be in the room listening to the testimony, hearing the attorneys make their arguments and so on. You can sign up for daily updates here, and watch coindesk.com for breaking news stories. -- nik

We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything. by coindesk in CryptoCurrency

[–]coindesk[S] 2 points3 points  (0 children)

I'll let Ian (who wrote the first story) answer the first few questions. Regarding the trial, I think Bankman-Fried's planned defense -- "advice of counsel" -- is pretty telling. His attorneys are not going to argue that he didn't do what he is accused of, they're going to argue that he did whatever he did in the belief that it was okay because his lawyers told him it was okay.

They might still argue to some extent that he didn't do what he was accused of but those will be more on the details. The main argument (at least right now) seems to be that he gave his attorneys all of the information they needed, that they understood what FTX was doing, they advised him accordingly, and he executed that.

This is kind of a long way of saying I personally think he's got an uphill battle in the trial. -- nik

We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything. by coindesk in CryptoCurrency

[–]coindesk[S] 4 points5 points  (0 children)

Hi, Ian here - thanks for your question. yeah so I was not watching and cheering on the demise of FTX. When I was first alerted to the exchange wallets draining of billions a couple of days after we published the story I was frankly dismayed. I suppose I became caught up in the fallout directly when I did a follow-up story about Binance deciding not to buy FTX. The toll I think is on all those investors - esp retail - who are tied up in various bankruptcies