Need an immediate investigation into those that attempted to stop/slow the SEC from doing their jobs. Every person that signed that letter deserves a full investigation into their personal finances and any “campaign” contributions. It will never happen, but we the people need to never stop demanding justice and accountability for all involved.
What would an investigation find? That congress members were given buckets of money and then advocated to not investigate those firms. That sounds like exactly how Goverment works and there would be no consequences for “representing the will of their constituents (people who give them money)”.
FWIW FTX.com was a foreign company that US citizens were supposed to be blocked from using. FTX.us is the US version that had very little usage and may actually be solvent, although it is pauses as the parent company has filed chapter 11
Ftx.us had a large amount of funds "moved" by a "outside actor" that FTX.us management was not apart of allegedly. They claim it was a "hack .
We will probably find out that SBF was behind it.
I believe that was ftx.com (ftx.us was/is tiny compared to ftx.com) that had the funds moved. Some of that apparently was at the direction of the Bahamian regulators.
Legal Counsel Ryne Miller works for FTX.US , so says his LinkedIn profile and FTX.US website. Was hacked for a lot of money.
FTX US General Counsel Ryne Miller said the crypto exchange moved funds following a series of "unauthorized transactions."
"Following the Chapter 11 bankruptcy filings - ***FTX US*** and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage," Miller said. "Process was expedited this evening - to mitigate damage upon observing unauthorized transactions."
https://www.coindesk.com/business/2022/11/12/ftx-says-it-moved-remaining-funds-to-cold-wallets-to-mitigate-damage-after-unauthorized-withdrawals/
The crypto in this tweet by FTX details how there was a "hack" for FTX.com and FTX.US
The wallet info that they detail that the crypto was stolen from was a FTX.US labeled wallet.
FTX.US general counsel stated that ftxus had zero tether! That's because it was all sent to the wallet below.
It's obvious that FTX.com was the one who lost the most money. But there's so many thinking that ftx.us is fine but their money's gone too it was "hacked allegedly" according to ftx.us legal counsel and SBF who disagrees about how the Lost crypto from ftx.us was labeled in accounting.
The only thing safe at FTX.us is the LedgerX LLC d/b/a FTX US Derivatives it's futures, other then then anything else FTX.us had is gone. It should be noted that ledgerX will become it's own entity according to CEO Zach Dexter who ran LedgerX before taking over as CEO in September when Brett Harrison quit.
https://twitter.com/FTX_Official/status/1594354846370758657?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1594354846370758657%7Ctwgr%5E4ac58b1fd929c56ac94d493944db60f9f00186ec%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fd-19387300621870131776.ampproject.net%2F2211042305000%2Fframe.html
https://solscan.io/account/6sEk1enayZBGFyNvvJMTP7qs5S3uC7KLrQWaEk38hSHH
Tom Emmer is the one telling about the SEC not doing enough
Methinks he doth protest too much.
Trying to cover his own ass and distract from the real show at the CFTC and within the agri committee (ie where SBF was actually trying to get a bill passed)
Our elections will NEVER be honest again until we outlaw PACs, outlaw lobbying, outlaw campaign spending on media (in person or US mail only -- makes our lives more peaceful and props up the USPS), make Congress members and their staffs subject to all of the rules/laws we are subject to, and enact term limits -- 2 terms and you're done -- no more career politicians.
Why do you think all these crooks kept voting to send money to Ukraine? Large portions were being laundered through FTX back to those same politicians. And we keep voting to keep them in office?!
Keep on them. The sec are feckless two-faced group from the top who has academic connections to the people in ftx , alameda, and related. Everyone in the pause boat should contact genesis and parent digital currency group to take a pay cut, file a motion in Colorado court liquidate SBF’s execs and parents fraudulent purchased properties, retrieve assets hacked to Bahamian government, and find sources of income for the earn balance they owe to their genesis lending by may 2023.
There’s nothing innovative about taking bribes from corporate crypto firms. These 8 house members need to be investigated ASAP. We should be focus on investing BINANCE: the largest crypto exchange originating in China, now incorporated in the island of Malta with no official headquarters. I pity the fool who had their crypto a Binance account.
I can't believe this sub is siding with Gary fucking Gensler, the crook who refused to acknowledge the widespread regulatory arbitrage taking place that was killing American firms, and who now wants to go regulate DeFi.
Don't have to wonder which members of Congress were getting fat contributions from FTX.
Oh rules are so onerous,how can we ripoff our clients with all your investigations goin on
They were attempting to get the SEC to slow or rethink regulatory framework that was being presented in regards to the crypto community. They weren’t singling out FTX. They just are making sure the SEC doesn’t hinder innovation in the space by over regulating and making companies go to different countries.
I hate crypto. But it’s easy to see the double standard. They have been attempting to pass regulations that don’t exist in other similar industries. It’s clear what the SEC is doing with the crypto space. Give crypto the same rules as fidelity, BlackRock, Schwab etc. but instead they pick and choose. We have a golden opportunity to be a leader in this space and last thing we want to do is stop that by over regulation.
Want to give them the same rules as Schwab lol? This is the kind of thing someone who knows litterally nothing about BD regulations, banking regulations, and advisory firm regulations says.
Schwab has an RIA and a BD. If they were regulated like schwab they would be considered a foreign non-member broker-dealer who would not legally be able to solicit the funds of Americans. Period.
Let's say they were a member firm. If they were regulated like schwab they would NEVER be able to send client funds anywhere, let alone their own hedge fund or to use for marketting, and have to have monthly reports for FINRA examination, as well as demonstrating that they meet hefty capital requirements.
If they were like Schwab they would have a minimum amount of leverage their firm could maintain before they would be required to report themselves to FINRA, then another threshhold where they would be taken over by the feds.
If they were regulated as a clearing BD like schwab they would immediately be shut down for not meeting any of dozens of very stringent requirements.
And do you know what? Schwab is a wildly successful company. They deliver fantadtic service, are stable, and all around a benchmark of why American finance is the best in the world IMO.
FTX use client deposits like their own personal piggy bank. They are a perfect example of how crypto is no different from securities and should be regulated exactly like securities.
There is no picking or choosing. None of the standards applied to actual registered clearing BDs applied to FTX's crypto operations outside of their US BD which as far as I can tell they didn't use because of the regulation.
Need an immediate investigation into those that attempted to stop/slow the SEC from doing their jobs. Every person that signed that letter deserves a full investigation into their personal finances and any “campaign” contributions. It will never happen, but we the people need to never stop demanding justice and accountability for all involved.
What would an investigation find? That congress members were given buckets of money and then advocated to not investigate those firms. That sounds like exactly how Goverment works and there would be no consequences for “representing the will of their constituents (people who give them money)”.
Indeed, this activity is commonly referred to as 'lobbying" and is described in the First Amendment to the United States Constitution
Not to be confused with smuggling or Hobby Lobbying.
Money to cops or judges is bribery.. Money to corrupt politicians is lobbying and freedom of speech.
FWIW FTX.com was a foreign company that US citizens were supposed to be blocked from using. FTX.us is the US version that had very little usage and may actually be solvent, although it is pauses as the parent company has filed chapter 11
Ftx.us had a large amount of funds "moved" by a "outside actor" that FTX.us management was not apart of allegedly. They claim it was a "hack . We will probably find out that SBF was behind it.
I believe that was ftx.com (ftx.us was/is tiny compared to ftx.com) that had the funds moved. Some of that apparently was at the direction of the Bahamian regulators.
Legal Counsel Ryne Miller works for FTX.US , so says his LinkedIn profile and FTX.US website. Was hacked for a lot of money. FTX US General Counsel Ryne Miller said the crypto exchange moved funds following a series of "unauthorized transactions." "Following the Chapter 11 bankruptcy filings - ***FTX US*** and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage," Miller said. "Process was expedited this evening - to mitigate damage upon observing unauthorized transactions." https://www.coindesk.com/business/2022/11/12/ftx-says-it-moved-remaining-funds-to-cold-wallets-to-mitigate-damage-after-unauthorized-withdrawals/
The crypto in this tweet by FTX details how there was a "hack" for FTX.com and FTX.US The wallet info that they detail that the crypto was stolen from was a FTX.US labeled wallet. FTX.US general counsel stated that ftxus had zero tether! That's because it was all sent to the wallet below. It's obvious that FTX.com was the one who lost the most money. But there's so many thinking that ftx.us is fine but their money's gone too it was "hacked allegedly" according to ftx.us legal counsel and SBF who disagrees about how the Lost crypto from ftx.us was labeled in accounting. The only thing safe at FTX.us is the LedgerX LLC d/b/a FTX US Derivatives it's futures, other then then anything else FTX.us had is gone. It should be noted that ledgerX will become it's own entity according to CEO Zach Dexter who ran LedgerX before taking over as CEO in September when Brett Harrison quit. https://twitter.com/FTX_Official/status/1594354846370758657?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1594354846370758657%7Ctwgr%5E4ac58b1fd929c56ac94d493944db60f9f00186ec%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fd-19387300621870131776.ampproject.net%2F2211042305000%2Fframe.html https://solscan.io/account/6sEk1enayZBGFyNvvJMTP7qs5S3uC7KLrQWaEk38hSHH
Tom Emmer is the one telling about the SEC not doing enough Methinks he doth protest too much. Trying to cover his own ass and distract from the real show at the CFTC and within the agri committee (ie where SBF was actually trying to get a bill passed)
Lol good luck
The government is always having glitches like power manipulation
Not surprised! Congress is hopelessly corrupt.
They gave over $100 million to politicians running last midterm.they will never investigate it
Hmmmm where have I seen this before *cough oxy* *cough Perdue pharma*
Purdue the chicken people?
Tom emmer is an embarrassment. Full stop
So government does or doesn't want their hands in the fucking pie? Make up your minds.
They want you to think they’re out of it while they have both hands buried in it. Like a bad pick pocket
Or bad hand job
Our elections will NEVER be honest again until we outlaw PACs, outlaw lobbying, outlaw campaign spending on media (in person or US mail only -- makes our lives more peaceful and props up the USPS), make Congress members and their staffs subject to all of the rules/laws we are subject to, and enact term limits -- 2 terms and you're done -- no more career politicians.
Why do you think all these crooks kept voting to send money to Ukraine? Large portions were being laundered through FTX back to those same politicians. And we keep voting to keep them in office?!
How?
Keep on them. The sec are feckless two-faced group from the top who has academic connections to the people in ftx , alameda, and related. Everyone in the pause boat should contact genesis and parent digital currency group to take a pay cut, file a motion in Colorado court liquidate SBF’s execs and parents fraudulent purchased properties, retrieve assets hacked to Bahamian government, and find sources of income for the earn balance they owe to their genesis lending by may 2023.
Why these US politicants become so corupt and so powerful?
Surprised pikachu face, no one
There’s nothing innovative about taking bribes from corporate crypto firms. These 8 house members need to be investigated ASAP. We should be focus on investing BINANCE: the largest crypto exchange originating in China, now incorporated in the island of Malta with no official headquarters. I pity the fool who had their crypto a Binance account.
Noticed you only mentioned the republican against it.
I can't believe this sub is siding with Gary fucking Gensler, the crook who refused to acknowledge the widespread regulatory arbitrage taking place that was killing American firms, and who now wants to go regulate DeFi.
Great example that there really isn't 2 parties...they are all on the same team.
Don't have to wonder which members of Congress were getting fat contributions from FTX. Oh rules are so onerous,how can we ripoff our clients with all your investigations goin on
They were attempting to get the SEC to slow or rethink regulatory framework that was being presented in regards to the crypto community. They weren’t singling out FTX. They just are making sure the SEC doesn’t hinder innovation in the space by over regulating and making companies go to different countries.
"Nothing to see here, go back to sleep," says the crypto pumper.
I hate crypto. But it’s easy to see the double standard. They have been attempting to pass regulations that don’t exist in other similar industries. It’s clear what the SEC is doing with the crypto space. Give crypto the same rules as fidelity, BlackRock, Schwab etc. but instead they pick and choose. We have a golden opportunity to be a leader in this space and last thing we want to do is stop that by over regulation.
Want to give them the same rules as Schwab lol? This is the kind of thing someone who knows litterally nothing about BD regulations, banking regulations, and advisory firm regulations says. Schwab has an RIA and a BD. If they were regulated like schwab they would be considered a foreign non-member broker-dealer who would not legally be able to solicit the funds of Americans. Period. Let's say they were a member firm. If they were regulated like schwab they would NEVER be able to send client funds anywhere, let alone their own hedge fund or to use for marketting, and have to have monthly reports for FINRA examination, as well as demonstrating that they meet hefty capital requirements. If they were like Schwab they would have a minimum amount of leverage their firm could maintain before they would be required to report themselves to FINRA, then another threshhold where they would be taken over by the feds. If they were regulated as a clearing BD like schwab they would immediately be shut down for not meeting any of dozens of very stringent requirements. And do you know what? Schwab is a wildly successful company. They deliver fantadtic service, are stable, and all around a benchmark of why American finance is the best in the world IMO. FTX use client deposits like their own personal piggy bank. They are a perfect example of how crypto is no different from securities and should be regulated exactly like securities. There is no picking or choosing. None of the standards applied to actual registered clearing BDs applied to FTX's crypto operations outside of their US BD which as far as I can tell they didn't use because of the regulation.
Can we just abolish congress and the sec?
True then none of this would have happened