3 ms·

FTX seeks to recoup SBF's charitable donations

30 points by erehweb 4y ago

metadat 4y ago
JS-free archive link: https://archive.today/3NW7q https://archive.today/3NW7q
yieldcrv 4y ago
Messy but do what you gotta do All money flows will be pulled
- undersuit 4y ago
  Why not salaries too? Obviously all the money FTX gave to all their employees should be clawed back, right? And any political contributions? And consulting payments?
  - lumost 4y ago
    There must be limits on clawbacks of income. Employees and other vendors would have legitimate expenses for having performed a legitimate service.
  - gitfan86 4y ago
    Probably. Obviously you would want to make an exception for people that were using that money on rent and food, ( People making under 200k/year). But someone like Kevin O'Leary clearly isn't going to be homeless if they take back his 15M. And also Tom Brady. I don't think Tom Brady was trying to scam anyone, but if Tom Brady bought car and then later found out that the car was stolen and the paperwork was forged, I'm sure he would want the car returned to the rightful owner.
    - theragra 4y ago
      This sounds a bit crazy. In my country there is a common scam. Apartment is sold to a person, and all documents are in order. But in reality this apartment is obtained illegally, and there is no way for buyer to know that. Current law says it should be returned, even after a few years. People lose their home, which costed them most of their savings, and there were no way to know that. How do you even buy apartment when this is possible at all? Obviously, law is getting changed right now. If government said deal was valid and confirmed it themselves using their db, deal should stay valid. I believe same should be in this case. People putting their money to FTX could at least easily Google they are not protected by law. And donation recepients should keep the money, as it is impossible to know the company is scam beforehand.
      - harambae 4y ago
        Sounds like your country may have a market for something we call (in the USA) "title insurance". https://en.wikipedia.org/wiki/Title_insurance https://en.wikipedia.org/wiki/Title_insurance
        theragra 4y ago
        Sounds interesting. But I think a lot of people lack knowledge to use things like this. It requires ingrained culture: companies providing this service, then persuading people this is useful.

30 points by erehweb 4y ago

metadat 4y ago

JS-free archive link: https://archive.today/3NW7q https://archive.today/3NW7q

yieldcrv 4y ago

Messy but do what you gotta do All money flows will be pulled

undersuit 4y ago
Why not salaries too? Obviously all the money FTX gave to all their employees should be clawed back, right? And any political contributions? And consulting payments?
- lumost 4y ago
  There must be limits on clawbacks of income. Employees and other vendors would have legitimate expenses for having performed a legitimate service.
- gitfan86 4y ago
  Probably. Obviously you would want to make an exception for people that were using that money on rent and food, ( People making under 200k/year). But someone like Kevin O'Leary clearly isn't going to be homeless if they take back his 15M. And also Tom Brady. I don't think Tom Brady was trying to scam anyone, but if Tom Brady bought car and then later found out that the car was stolen and the paperwork was forged, I'm sure he would want the car returned to the rightful owner.
  - theragra 4y ago
    This sounds a bit crazy. In my country there is a common scam. Apartment is sold to a person, and all documents are in order. But in reality this apartment is obtained illegally, and there is no way for buyer to know that. Current law says it should be returned, even after a few years. People lose their home, which costed them most of their savings, and there were no way to know that. How do you even buy apartment when this is possible at all? Obviously, law is getting changed right now. If government said deal was valid and confirmed it themselves using their db, deal should stay valid. I believe same should be in this case. People putting their money to FTX could at least easily Google they are not protected by law. And donation recepients should keep the money, as it is impossible to know the company is scam beforehand.
    - harambae 4y ago
      Sounds like your country may have a market for something we call (in the USA) "title insurance". https://en.wikipedia.org/wiki/Title_insurance https://en.wikipedia.org/wiki/Title_insurance
      - theragra 4y ago
        Sounds interesting. But I think a lot of people lack knowledge to use things like this. It requires ingrained culture: companies providing this service, then persuading people this is useful.