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> And yes, my answer to all those crypto related shenanigans is proper government oversight. So SBF was making the same argument, argued in front of Congress f
by chrisco255 4y ago
> And yes, my answer to all those crypto related shenanigans is proper government oversight.
So SBF was making the same argument, argued in front of Congress for it, and was using his customer's billions to lobby for favorable legislation that would carve out expensive, exclusive licensing agreements that only him and a few others would be able to afford.
Even if you pass draconian legislation in the U.S., it does not affect what happens off-shore. FTX's core business was based in the Bahamas.
- hef19898 4y agoAnd SBF admitted in his WhatsApp, or whatever, interview woth VOX that all of that, regulation and whatnot, was just for show. Bahamas or not, if you operate in the US, US rules apply for your US business.
- chrisco255 4y agoWhatever SBF has "admitted to" in WhatsApp with his benefactors at the NYT or whomever is PR / damage control, etc. It cannot be relied upon as the guy has shown the behavior of a pathological liar and manipulator. > Bahamas or not, if you operate in the US, US rules apply for your US business That's just it, isn't it? FTX.us was in US jurisdiction, but FTX.com was an international organization where the vast majority of FTX's trading activity took place. They wouldn't have had to uphold U.S. laws or regulations at FTX.com, even if onerous measures were to pass.