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Binance founder 'CZ' leaves prison on Friday
- hyggetrold 2y ago"He got his bag"
- TyrianPurple 2y ago60 billion is a beautiful payday. That's now clean (hopeully), he can now start something else.
- Gys 2y agoCrime pays?
- optimalsolver 2y agoMeanwhile, SBF is settling right into prison gang life: https://www.reddit.com/r/wallstreetbets/comments/1av88z5/first_photo_of_sam_bankmanfried_in_jail_goes_hard/ https://www.reddit.com/r/wallstreetbets/comments/1av88z5/fir... No tats visible in the pic, tho.
- trollied 2y agoIt was being reported that he is now sharing a space with Sean “Diddy” Combs.
- DaiPlusPlus 2y agoThere’s a joke in there about which of the two screwed more people…
- pants2 2y agoThat was from February. Can't seem to find anything more recent.
- lordfrito 2y agoHe's leveled up to expert level polycule
- startupsfail 2y agoBitcoins are clearly negative sum game (resources used, GPUs burned, CO2 emitted, money changed hands). Wish we could do less of it.
- jsheard 2y agoAt least the broader crypto ecosystem mostly moved over to proof-of-stake, even if Bitcoin will probably always be proof-of-work, so at least most of their Ponzi schemes aren't boiling the oceans in the process anymore. Small victories.
- pants2 2y agoBitcoin can't always be proof-of-work. Given the capped supply, the mining rewards will eventually diminish to the point that the network is no longer secure. It will have to transition to proof-of-stake or some other mechanism long before that happens.
- tromp 2y agoIt intends to rely on fees, i.e. to have a constant backlog of high fee paying transactions. We'll see how that plays out within a few decades as the block subsidy becomes insignificant.
- rvz 2y ago
- wmf 2y agoHis "fortune" is mostly ownership of Binance which is now under the thumb of the US government. If—as widely theorized—Binance's secret ingredient is crime then it's not going to be worth what it once was.
- earnesti 2y agoI'm pretty sure that he also has personal BTC stash. Maybe not billions though.
- TrainedMonkey 2y agoMost likely multiple anonymous wallets of different cryptos. The real question is whether anyone else has access to them... if yes I expect there to be nothing left.
- mr90210 2y agoAfter SBF, he’d be pretty stupid for not stashing his assets just in case.
- tim333 2y agoGoogle says net worth 60bn. I think he'll be ok even if that goes down a bit.
- monero-xmr 2y agoBinance far and away dominates non-United States volume of crypto trading. If you think that Coinbase, a publicly traded US company, has real volume and earns a fee for that, then it's not hard to understand why Binance has real revenues and value.
- hn_throwaway_99 2y agoJournalist: "What are you going to do next??" CZ: "I'm buying Disney World!"
- whaleofatw2022 2y agoWell played. Tbh it will be curious to see next steps.
- ddtaylor 2y agoCZ was at Lompoch I take it at a Low?
- mchannon 2y agoFar more likely he was at the (a?) satellite camp at Lompoc. Minimum security satellite camps share a small percentage of their facilities with a nearby low or medium: R&D (that's Receiving & Discharge to you), warehouse, mail center. FYI, Lompoc is pronounced Lom-poke to the townies. Not sure how the inmates pronounce it.
- ddtaylor 2y ago> Far more likely he was at the (a?) satellite camp at Lompoc. Minimum security satellite camps share a small percentage of their facilities with a nearby low or medium: I was curious myself because I had heard rumblings during my incarceration that foreign nationals don't qualify for some of the classifications like this via the BOP. Sure enough: > In April 2024, Zhao was sentenced to four months in prison after pleading guilty to charges of money laundering. Because Zhao is not a U.S. citizen, he is ineligible to serve his sentence in a minimum security prison. That matches up slightly with the other conditions I have seen at minimum security prisons. We would have people who were serving time that would get moved from the camp to a higher security once the paperwork resolved and they were for certain no longer a US citizen. > FYI, Lompoc is pronounced Lom-poke to the townies. Not sure how the inmates pronounce it. All inmates I served with pronounced it "LAWM" "POHK" like it rhymed with "Lawn" and "Stock". I know everyone likes to go there because they basically open the doors at 8AM and you go drive around farmland. Contraband moves very easily because it's just sitting in a field waiting for you and you drive a prison truck lol
- ddtaylor 2y agoI will leave this comment here as well. He did his time at a low and that's pretty interesting. It's not a "hard" environment, but it has a bit more "prison politics" than a minimum security prison does. It's entirely normal to go and do a short sentence at a minimum and never talk to anyone or participate much. That is extra true for the "other" crowd in prisons (not white, black or hispanic - usually asian and islander) as there is not much "threat" from their group taking over they are left to do most of whatever they want. Being at a low security that changes slightly. The politics, rules, etc. are all a bit different. A good example is that in minimum security prisons you don't often "check paperwork" much because nobody can have sex charges the only reason people would be interested is to see if you have known snitch paperwork. At a minimum security prison it doesn't happen much and if someone doesn't like your paperwork or case the most they are usually going to do is blacklist doing business with you or tell others not to give you perks like good meals. At a low security prison they will check your paperwork. It can have bad things on it. If it does have bad things on it they would get "rolled out" one way or another. Usually a signal is given to the guards (sometimes as clear as "get him out or he gets rolled out") and the inmate is told they may have an opportunity to leave without getting forced. Also it doesn't really matter, wherever they are going the word is out and they aren't going to get better treatment there. There are some other nuanced details, but in general, he's probably very lucky to be asian in this context. They really are more-or-less invisible within the prison system. I'm sure some people tried to press him slightly to get dumb shit like ramen noodles and stuff, which he probably fucking maxed out every TRUNLICS account available LOL
- toomanyrichies 2y agohttps://archive.ph/WHXYL https://archive.ph/WHXYL
- zombiwoof 2y ago[flagged]
- Vecr 2y agoHope he has something in place for the kidnap risk. Also hope his lawyers credibly claim they will demand continual proof-of-life to engage, otherwise kidnapping might not be the end to it.
- 2OEH8eoCRo0 2y agoWhere is Kyle Davies of 3AC?
- stonethrowaway 2y agoBased Mr. Zhao, showing us crime pays while we’re all cheering “and how!”
- deleted 2y ago[deleted]
- Eddieethan 2y ago[flagged]
- ronsor 2y agoYou have negative karma because you are promoting a scam to solve a scam.
- Sohcahtoa82 2y agoIt's probably a bot that doesn't care.
- joerdi 2y ago[dead]
- deleted 2y ago[deleted]
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