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Three Arrows Capital co-founder Zhu arrested in Singapore airport
- pizzalife 3y agoThis is very satisfying.
- rwmj 3y agohttps://archive.ph/B98v5 https://archive.ph/B98v5
- johnloeber 3y agoSBF down, Do Kwon down, Su Zhu down, many many more to go... I've been amazed at how slow the law seems to be in apprehending the most egregious scammers from that era.
- brookst 3y ago“The wheels of justice turn slowly, but grind finely”
- gottorf 3y agoIndeed. "Egregious" in the court of public opinion isn't the same thing as a legal case put together rigorously by prosecutors arguing against the finest defense lawyers that scammers' money can buy.
- dheera 3y agoHere's a rebel idea: In court cases, have the scoreboard weighted by the AGI of the lawyers. define pro = accuser, con = accused If the "pro" side has 10 points and the "con" side has 5 points, and the con side's lawyer makes 1/3 the salary of the pro side's lawyer, the con side wins the case. Another rebel idea: If either side chooses to not use lawyers, the other side is also not allowed to use lawyers. If either side uses ChatGPT in the courtroom, the other side is also allowed to use ChatGPT. Yet another rebel idea: The lawyer budgets of both sides must be equal. If you have more money to spend on lawyers you are required by law to give some money to the other side for their lawyers to make the budgets equal.
- LeifCarrotson 3y agoAdjusted gross income? Also, what are "points"? There's no scoreboard in a courtroom...
- dheera 3y ago> There's no scoreboard in a courtroom There could be ... in terms of form it's not that different from a glorified high school debate with some silly outfits and exccessive use of SAT vocabulary.
- thecyborganizer 3y agoYour high school debates were judged by a jury of your peers? We had a bored teacher on their day off. (Or sometimes a parent, or an alumni.)
- ohdannyboy 3y agoLet's say I have something like $1M to my name (total assets) and I'm accused of a serious crime. I'm ready to spend it all to not go to prison for decades, but the AGI of the prosecutor is like 1/3 of my respectable private attorney. State prosecutors make garbage so this isn't far fetched. I now have to fund the government and give a significant percent of my assets just to defend myself? Making somebody fund their own prosecution during trial is probably the least rebel thing I've ever heard.
- dheera 3y ago> I'm ready to spend it all to not go to prison You said you were ready > give a significant percent of my assets just to defend myself So why not? Or get a cheaper lawyer yourself that's more fair to the other side. There's a lot of rich people out there who get away with some really bad crimes just because they have really clever private attorneys.
- ohdannyboy 3y ago
- huytersd 3y ago[dead]
- penguin_booze 3y agoAnd then, sentence all the criminals who've been long dead. Justice: served.
- Obscurity4340 3y agoIt does seem to grind poor or poor-adjacent people faster and more finely still.
- b112 3y agoTo be fair, "era" usually means "hundreds or thousands" of years ago, or millions. Not just a year or two. Justice, especially for complex things, which require investigation, is seldom fast. It probably wouldn't be fair otherwise.
- emodendroket 3y agoEra is commonly used to refer to much shorter periods than that. The “post-War era” was a few decades, not millions of years
- mousetree 3y agoWaiting for Tether
- ceejayoz 3y agoAnd Binance's CZ.
- _2d30 3y agoUnfortunately, Tether now operates as one of the single greatest businesses of all time and is probably (from now) operating completely legitimately. No one is happy to hear this except for Tether themselves.
- Zanfa 3y agoHighly improbable. While in theory they could be earning billions in interest just sitting on all that cash, there’s very little reason to believe the billions they claim to have exist. Do they seriously expect people to believe that they have more assets under management than at peak crypto in 2021, with billions more pouring in regularly?
- junofan 3y agoYeah there’s tons of demand for offshore dollars. It’s a great product.
- jron 3y agoHi, Craig.
- sgt101 3y ago[flagged]
- thelastgallon 3y agoI wish they jail all the celebrities and influences peddling crypto and NFTs. Tom Brady, Gisele Bündchen, Stephen Curry, Naomi Osaka, David “Big Papi” Ortiz, Kevin O'Leary and thousands of influencers.
- thelock85 3y agoSerious question from a crypto outsider: is four months long enough to deter future grifts? Will Zhu’s detention increase likelihood of further prosecutions?
- eigenket 3y agoSpending 4 months anywhere in Singapore without air-conditioning would deter me from pretty much anything. I imagine the experience in a prison cell is worse.
- mikhailfranco 3y agoThe prison is next to the airport - both named Changi after the original kampong village nearby. So hot, humid and noisy.
- eigenket 3y agoInteresting fact, Changi was a fairly brutal prisoner of war camp where allied forces were kept by the Japanese during world war 2. My grandfather's brother was kept there during the war.
- lamida 3y agoChannel News Asia produced a really good documentary about Singapore prison: https://www.channelnewsasia.com/watch/inside-maximum-security https://www.channelnewsasia.com/watch/inside-maximum-securit....
- lokar 3y agoI read this as not about running a scam, but failing to help the people dealing with the cleanup with their work. A sort of procedural sanction.
- yieldcrv 3y ago> after he failed to comply with court orders to cooperate with the liquidation investigation. this procedural issue isn’t really related to crypto its someone that didnt show up
- jqpabc123 3y agoMore crypto con artistry. Color me --- not surprised.
- danbruc 3y agoThis just reminded me that cryptocurrencies is a thing, this has not been a prominent topic here for some time, I would say. Is the entire cryptocurrencies stuff eventually on the way out or would that be a misperception? Just checked Google trends, that also indicates a downward trend for terms like Bitcoin, cryptocurrency, NFT or Ethereum for the last year or two.
- nerf0 3y agoI work in this area and to me, the tech is still super interesting. In particular, things like zero knowledge proof and related scaling/privacy solutions are at the forefront of cryptography in my opinion.
- wmf 3y agoWe just need to find some non-speculative and non-scammy uses for that tech.
- iskander 3y agoI think you'll see people picking those techniques and using them in a hidden-from-the-user way (like how git and BlueSky use Merkle trees)
- Terr_ 3y ago> I think you'll see people picking those techniques Those techniques were already invented and in-use long beforehand though. I think that needs emphasizing, because sometimes it feels like... Imagine that fans of the Segway claimed it will replace all other forms of transportation, and a worrying number of them are still out there crediting the (failing) product for inventing the wheel.
- iskander 3y agoMerkle trees, yes! That was just an example of a technique that can be well hidden vs in the user's face. Newer techniques like Verkle trees, SNARKs, STARKs, &c are.... well, new.
- dist-epoch 3y agoIt was very profitable to trade AGAINST his recommendations. Because he would use his Twitter followers as exit liquidity. When he was praising bitcoin he was secretly selling, and when when he was saying crypto is done, time to get a McDonalds job you knew he was loading up.
- arbi_man 3y ago[dead]
- 1letterunixname 3y agoThe stupidity of cryptobros remaining in countries where they can be arrested or deported, and of their misinvesting the funds of powerful people. Unfortunately, a free society must permit stupid to be stupid until they break the law. Another issue is the teams who put together these crypto utopias make themselves easy prey by shrewd grifters who are able to execute scams through creative misuse. They need far more controls and foresight to avert disaster.
- jiveturkey 3y agosorry. nothing to see here. 4 months for failure to testify. not related to crypto fraud etc.