I may be wrong but there has to be a discount factor when selling that many bitcoins in open market.
It’s also not a business anyone wants to buy and won’t be getting an Elon Musk to overpay for it. You are just buying bitcoins with a 2% management fee baked in as your profit center.
The value proposition isn’t there.
If you want that much bitcoin it’s also better than buying it on the open market for obvious reasons. Of course the billion dollar question is whether the btc exists but that should be trivially easy to prove if they actually do.
Haralabos called FTX a ponzi on BS pod today 
https://twitter.com/gladstein/status/1595539349717733376?s=20&t=8ig2_YwZo5jmxxa46bY9IQ
https://twitter.com/PeterMcCormack/status/1595579540557922304?s=20&t=8ig2_YwZo5jmxxa46bY9IQ
I guess I have to be that guy but hooker is an offensive term used to denigrate sex workers. You should avoid using it
They arrested Madoff the following day.
This little gnome kid going to walk around free in New York isn’t he.
True.
I do wonder how much $11B of sell pressure from 1 entity over 5 months would do to the price of bitcoin theoretically.
You would be crashing the price pretty hard…
if he had just kept his mouth shut, absolutely.
the fact that he’s posting through it has increased the chance he actually gets got but it’s still pretty small, maybe 10%?
Although this may be legally true, psychologically his openness will have the impact of tricking a lot of people into thinking “hey, if he’s just posting freely about it and talking about what he did, it can’t be that bad”. This is a core tactic that people use to “brazenly” get away with stuff. We’ve been trained by cop/legal dramas and related pop culture that people that “confess” to bad deeds are committing the ultimate definitive misstep, but in the real world when you openly admit to doing things and state confidently that what you did was actually fine, the majority of people are going to have an instinctive reaction to trust you. People place more weight on deception than legal fact patterns.
Laugh my ass off. Saving the world while siphoning user funds to his hedge fund.
https://twitter.com/WSJmarkets/status/1595726972428386306?t=9aFfbBfjnRRo87PUAbfoqg&s=19
I’m just picturing the “it ain’t much but it’s honest work” meme
Reminder that bitcoin is fundamentally different to almost all other asset classes. In that any money taken out of the system has to come from people buying into it. (Less a small slice of people willing to pay a spread for the benefit of using it as a trading mechanism).
That’s different to houses, stocks, etc.
The price will therefore behave very differently than anything else, in theres no anchor, and nothing propping it up.
It also means that all the bitcoin billionaires are only billionaires if actual new money comes into the market for billions.
Let me try:
"I was moving funds around accounts and mislabeled the accounts. Thought there was enough funds than I thought that was left. Never my intention to send $8B over time to Alameda.
Alameda was also doing public good projects to build a better world and solve global hunger and climate change. We also promote veganism to reduce harmful effects of animal farming.
The penthouses were merely employee retreat homes. Helps them perform better when company secures a decent roof over their heads free of charge."
Real or Onion.
Wait aren’t there texts where the guy is saying all the altruism stuff is pure bullshit? Journos so naive they could watch the cups and balls with clear plastic cups and still think teller is a real wizard.
If my boss bought a penthouse in my name with company client funds and let me stay there to help improve my productivity I will build him a statue.
SBF is a saint.
It’s amazing how easy it is for rich people to snow the business press with obvious bullshit buzzwords like “effective altruism” and whatnot.
Welcome to the wonderful world of access journalism. If you don’t transcribe what the powerful people say then you get fired. All The News That’s Fit To Print.