Cryptocurrency as the next significant stage for computing technology, not just an investment

[Nebraska]

A pastor in Denver who said that God told him to sell cryptocurrency that could not be cashed is facing civil charges, along with his wife, for marketing a digital coin that prosecutors said was “practically worthless” and using the proceeds to support a “lavish lifestyle.”


In a video addressing the complaint last week, Mr. Regalado said that he did not want investors to be “mad” at the prosecutors.

“They have to do this,” he said. “I mean, if you think about this: We sold a cryptocurrency with no clear exit. We did. We took God at his word and sold a cryptocurrency with no clear exit.”

https://www.nytimes.com/2024/01/23/us/colorado-pastor-crypto-fraud-eli-regalado.html

just moar proof of how god works in mysterious ways

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[Nebraska]

On 11/2/2023 at 5:01 PM, Nebraska said:

https://www.cnbc.com/2023/11/02/the-emails-texts-photos-that-could-put-sam-bankman-fried-in-prison.html

 

Quote

NEW YORK, March 28 (Reuters) - Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind's dramatic downfall.

He has vowed to appeal his conviction and sentence.

https://www.reuters.com/technology/sam-bankman-fried-be-sentenced-multi-billion-dollar-ftx-fraud-2024-03-28/

[Rubin Farr]

 

[logakght]

28 minutes ago, Rubin Farr said:

 

too little

[ignatius]

23 hours ago, logakght said:

too little

if he does the entire 25 it seems fair since he'll probably go crazy in there. also, a prison in america for that long while climate change is happening is going to absolute hell towards the end when prisons are the lowest thing on the priority list for federal and state governments. such as it is. 

but whatever. i mean.. if he was treated on a proportional scale where sentences are handed out based on dollar amounts, who and how people were taking advantage of etc then it's probably not long enough since some dude who stole a tv from a local shop in 1970 is probably still in jail somewhere because he's black. 

i hope this starts a trend of real jail time for financial crimes. having some actual laws in places and enforcing them would be nice but the banks do whatever the fuck they want and only get fines if that. 

edit: read that the prosecutors were asking for 40-50 years prison time. he got roughly half what they were asking. apparently he's not handled the jail time up to now very well. 40-50 years doesn't seem out of line as a sentence.. but neither does 25. really. in 25 years is anyone going to remember this guy? i hope he serves all that time and doesn't get some parole in 7 years or commuted sentence by a future president. he seems aloof and unaware of being a criminal and instead has said "mistakes were made" but didn't ever take responsibility for his shit show.  he got more time than michael milken who got ten years. he was pardoned by trump. milken is still worth billions, was banned from trading etc.. 

https://en.wikipedia.org/wiki/Michael_Milken

wtf. such a shit show. 

Edited March 29 by ignatius