3 ms·

So, these guys were controlling tens of billions worth of dollars and as all failed they end up laundering 4.8M? It's either beyond desperation or maybe it's no

So, these guys were controlling tens of billions worth of dollars and as all failed they end up laundering 4.8M? It's either beyond desperation or maybe it's not what the author thinks it is.

altairprime 4y ago
It could be not the only transaction, just the first one to get caught. It could be the first of many transactions, and was caught. The disparity in size between a virtual cryptocoin’s “value in USD” market assessment, and the actual dollar amount of a single financial transaction performed by that coin’s operator, provides no significant information here for estimating the total scope in USD of illicit behaviors by Terraform Labs.
m00dy 4y ago
The market cap of Terra is about billions. It doesn't necessary mean the actual value they are controlling.
upupandup 4y ago
The actual order books are magnitude less than the stated market cap. For instance, somebody who is a billionaire on paper with mostly crypto holdings, cannot cash out most of its wealth. When prices drop, the order books run into liquidity issues. It tells me on thing though, that most people have shunned crypto and that most of the noise we see is people holding crypto spamming to get somebody to take the otherside of their trade so they can liquidate their holdings...ironically to fiat which was the pinnacle of their narrative.
- abacadaba 4y ago
  they were able to sell 3 billion in btc and it got soaked up without the price dropping too much other than btc or maybe eth ya might be an issue though
  - sushid 4y ago
    It's because they didn't sell it directly on the market. They were sold to funds that would lock up the Lunas for 2 years and so on. The Lunas were also sold at a discount (relative to the market price back then).
- IshKebab 4y ago
  Didn't Musk buy and sell that much bitcoin fairly easily?

3 ms·

So, these guys were controlling tens of billions worth of dollars and as all failed they end up laundering 4.8M? It's either beyond desperation or maybe it's no

by WinstonSmith84 4y ago

So, these guys were controlling tens of billions worth of dollars and as all failed they end up laundering 4.8M? It's either beyond desperation or maybe it's not what the author thinks it is.

altairprime 4y ago
It could be not the only transaction, just the first one to get caught. It could be the first of many transactions, and was caught. The disparity in size between a virtual cryptocoin’s “value in USD” market assessment, and the actual dollar amount of a single financial transaction performed by that coin’s operator, provides no significant information here for estimating the total scope in USD of illicit behaviors by Terraform Labs.
m00dy 4y ago
The market cap of Terra is about billions. It doesn't necessary mean the actual value they are controlling.
upupandup 4y ago
The actual order books are magnitude less than the stated market cap. For instance, somebody who is a billionaire on paper with mostly crypto holdings, cannot cash out most of its wealth. When prices drop, the order books run into liquidity issues. It tells me on thing though, that most people have shunned crypto and that most of the noise we see is people holding crypto spamming to get somebody to take the otherside of their trade so they can liquidate their holdings...ironically to fiat which was the pinnacle of their narrative.
- abacadaba 4y ago
  they were able to sell 3 billion in btc and it got soaked up without the price dropping too much other than btc or maybe eth ya might be an issue though
  - sushid 4y ago
    It's because they didn't sell it directly on the market. They were sold to funds that would lock up the Lunas for 2 years and so on. The Lunas were also sold at a discount (relative to the market price back then).
- IshKebab 4y ago
  Didn't Musk buy and sell that much bitcoin fairly easily?