In a surprise twist though, them not understanding ironic artistic argumentative flourishes probably is why they’re staying poor and having no fun whilst doing so.
FTX founder Sam Bankman-Fried has been arrested in the Bahamas after the United States filed criminal charges, the Office of the Attorney General of the Bahamas said on Monday.
The arrest was made based on a sealed indictment filed by the United States Attorney’s Office Southern District of New York, the U.S. attorney said. “We expect to move to unseal the indictment in the morning and will have more to say at that time,” said U.S. Attorney Damian Williams in a statement.
The United States is likely to request Mr. Bankman-Fried’s extradition, according to a release issued by the Bahamas attorney general. He will be held in custody by Bahamian police pursuant to the country’s extradition law, the release says.
“The Bahamas and the United States have a shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law,” Bahamian Prime Minister Philip Davis said in a statement.
What I learned is these “institutions” like FTX / Celsius / Tether, all take retail money and spend it however / wherever / on whomever they like. There is no control, no audit, no safeguards.
When billions of dollars sit in their accounts from users, they don’t think “let’s buy treasuries with this to lower the risk of users”.
No, they throw it all around however they like within the ecosystem. CZ just wrote a blank effing check of hundreds of millions to Elon to buy twitter. I question their judgement.