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No. This is a widely repeated misconception. That investigation was opened months ago: https://twitter.com/matthewstoller/status/1593729594921713670#m https://

No. This is a widely repeated misconception. That investigation was opened months ago: https://twitter.com/matthewstoller/status/1593729594921713670#m https://twitter.com/matthewstoller/status/159372959492171367... I'm trying to find the original source for this but I can't. Matt Stoller is literally The Anti-Trust Guy on Twitter though. Also, the U.S. is currently engaged with the Bahamas in a jurisdictional battle for SBF's seized funds: https://www.reuters.com/technology/bahamas-regulator-says-it-assumed-control-digital-assets-ftx-2022-11-18/ https://www.reuters.com/technology/bahamas-regulator-says-it...

adam_arthur 4y ago
It’s irrelevant anyway. There should be a loud and clearly vocalized response from a Government department stating they will prosecute the fraud. Has fraud ever been more obvious and clear cut than in this case?
- thinkharderdev 4y ago
  Several investigations have been opened: https://www.reuters.com/technology/manhattan-us-attorneys-office-investigates-ftx-downfall-source-2022-11-14/ https://www.reuters.com/technology/manhattan-us-attorneys-of.... It's likely a very complicated case, so I would imagine it will take some time. It took what, 2-3 years to bring the case against Elizabeth Holmes over Theranos?
  - adam_arthur 4y ago
    I’m aware that probes have started, but with very little fanfare or pomp behind them. Perhaps people prefer that approach, but to me this is a situation that calls for vocal messaging from the top. The fraud is public for all to see and pretty much indisputable. It’s far worse than Bernie Madoffs scheme ever was Evidence needs to be gathered before any formal prosecution sure, but would like to see more of a verbal acknowledgement of the clear wrongdoing from regulators
    - thinkharderdev 4y ago
      Do they typically do that? My understanding (and I am very much NAL) is that the standard practice is to only officially discuss ongoing investigations if they are ready to file charges which honestly seems like a good practice. And honestly I would be pretty surprised if there aren't any criminal charges coming out of this whole fiasco.
    - davrosthedalek 4y ago
      From a certain viewpoint, I think the "little fanfare" is a good thing. I certainly prefer it from grand-standing declarations that somebody will end up in jail before any investigation has been performed. Yes, it seems like a pretty straight-forward case. But still. I'd prefer it more if this standard of restrained would be applied everywhere. It clearly isn't, and that is a problem. Not only, but certainly also, because it makes one wonder if the restrained is motivated by CYA.
    - colpabar 4y ago
      Dude it is plainly obvious that the government isn’t making a big stink of it because a ton of people in the government benefited from FTX’s political donations, and a real investigation will expose that. That is why the donations are important.
- qeternity 4y ago
  I keep hearing this, and I understand the sentiment: people are angry, and hurt. But we missed the opportunity to proactively regulate. We can’t get this back. Governments absolutely should not shoot first and ask questions later. The wheels of justice should be slow and exact. The alternative is much worse.
- KptMarchewa 4y ago
  >There should be a loud and clearly vocalized response So you just care about the optics?
  - stefan_ 4y ago
    What optics? It's about all the tools of police that we keep being told are essential to their work and that have very little barrier to entry. Phone surveillance, subpoenas, raid offices and homes. Of course if you never do any of these things, you will never find the evidence for serious charges. Just for once try prosecuting a white-collar fraud like it's another minor drug dealer.
    - KptMarchewa 4y ago
      Doing this and talking about doing this are two separate things.
  - adam_arthur 4y ago
    Yes, I think loudly messaging that fraud will be prosecuted to the full extent of the law will discourage others from doing the same. And that the US government will investigate all Centralized exchanges to the extent possible, regardless if it’s within their jurisdiction. And that Tether will be audited. Or we can silently pursue the case for 3 years and allow many new forms of fraud to flourish in the crypto space. A quiet pursuit is somewhat comparable to an implicit endorsement in my mind
mayama 4y ago
Is extradition from Bahamas to US achievable? I would assume SBF core team is in process of moving to countries that would deny US extradition requests.
- whimsicalism 4y ago
  I don't think they're being allowed to leave the Bahamas.
- BryantD 4y ago
  I've seen reports that the Bahamian government is in negotiations with the US on this. It's certainly doable.

adam_arthur 4y ago

It’s irrelevant anyway. There should be a loud and clearly vocalized response from a Government department stating they will prosecute the fraud. Has fraud ever been more obvious and clear cut than in this case?

thinkharderdev 4y ago
Several investigations have been opened: https://www.reuters.com/technology/manhattan-us-attorneys-office-investigates-ftx-downfall-source-2022-11-14/ https://www.reuters.com/technology/manhattan-us-attorneys-of.... It's likely a very complicated case, so I would imagine it will take some time. It took what, 2-3 years to bring the case against Elizabeth Holmes over Theranos?
- adam_arthur 4y ago
  I’m aware that probes have started, but with very little fanfare or pomp behind them. Perhaps people prefer that approach, but to me this is a situation that calls for vocal messaging from the top. The fraud is public for all to see and pretty much indisputable. It’s far worse than Bernie Madoffs scheme ever was Evidence needs to be gathered before any formal prosecution sure, but would like to see more of a verbal acknowledgement of the clear wrongdoing from regulators
  - thinkharderdev 4y ago
    Do they typically do that? My understanding (and I am very much NAL) is that the standard practice is to only officially discuss ongoing investigations if they are ready to file charges which honestly seems like a good practice. And honestly I would be pretty surprised if there aren't any criminal charges coming out of this whole fiasco.
  - davrosthedalek 4y ago
    From a certain viewpoint, I think the "little fanfare" is a good thing. I certainly prefer it from grand-standing declarations that somebody will end up in jail before any investigation has been performed. Yes, it seems like a pretty straight-forward case. But still. I'd prefer it more if this standard of restrained would be applied everywhere. It clearly isn't, and that is a problem. Not only, but certainly also, because it makes one wonder if the restrained is motivated by CYA.
  - colpabar 4y ago
    Dude it is plainly obvious that the government isn’t making a big stink of it because a ton of people in the government benefited from FTX’s political donations, and a real investigation will expose that. That is why the donations are important.
qeternity 4y ago
I keep hearing this, and I understand the sentiment: people are angry, and hurt. But we missed the opportunity to proactively regulate. We can’t get this back. Governments absolutely should not shoot first and ask questions later. The wheels of justice should be slow and exact. The alternative is much worse.
KptMarchewa 4y ago
>There should be a loud and clearly vocalized response So you just care about the optics?
- stefan_ 4y ago
  What optics? It's about all the tools of police that we keep being told are essential to their work and that have very little barrier to entry. Phone surveillance, subpoenas, raid offices and homes. Of course if you never do any of these things, you will never find the evidence for serious charges. Just for once try prosecuting a white-collar fraud like it's another minor drug dealer.
  - KptMarchewa 4y ago
    Doing this and talking about doing this are two separate things.
- adam_arthur 4y ago
  Yes, I think loudly messaging that fraud will be prosecuted to the full extent of the law will discourage others from doing the same. And that the US government will investigate all Centralized exchanges to the extent possible, regardless if it’s within their jurisdiction. And that Tether will be audited. Or we can silently pursue the case for 3 years and allow many new forms of fraud to flourish in the crypto space. A quiet pursuit is somewhat comparable to an implicit endorsement in my mind

mayama 4y ago

Is extradition from Bahamas to US achievable? I would assume SBF core team is in process of moving to countries that would deny US extradition requests.

whimsicalism 4y ago
I don't think they're being allowed to leave the Bahamas.
BryantD 4y ago
I've seen reports that the Bahamian government is in negotiations with the US on this. It's certainly doable.