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Supposedly it's a bunch of investors and while I haven't located the complaint, it alleges a sweeping conspiracy of fraud which would be quite the interesting challenge to prove. If they can prove it, that'll be really fascinating to play out, otherwise yeah, um, Steph Curry doesn't owe you a duty of candor on an ad.
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Nov 17, 2022 04:09
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kw0134 posted:Supposedly it's a bunch of investors and while I haven't located the complaint, it alleges a sweeping conspiracy of fraud which would be quite the interesting challenge to prove. If they can prove it, that'll be really fascinating to play out, otherwise yeah, um, Steph Curry doesn't owe you a duty of candor on an ad. I might give you Steph Curry, but gently caress Tom Brady
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Nov 17, 2022 04:13
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For those asking about the class action against FTX et al, I skimmed enough of it to summarize why he's suing and his laughable reasons for why various people and organizations owe him money or somethingquote:Plaintiff Garrison purchased an unregistered security from FTX in the form of a [yield bearing account] and funded the account with a sufficient amount of crypto assets to earn interest on his holdings quote:65. Defendant Stephen Curry had his own nationwide ad campaign pushing the Deceptive FTX Platform, known as the “#notanexpert” campaign.26 Throughout the ad, Curry repeatedly denies being cast as an expert in cryptocurrency, culminating in his statement that “I’m not an expert, and I don’t need to be. With FTX I have everything I need to buy, sell, and trade crypto 66. safely.” apparently this makes Stephen Curry personally liable for all losses on FTX, I guess complaint here: https://acrobat.adobe.com/link/track?uri=urn%253Aaaid%253Ascds%253AUS%253A1b438d61-787f-36cf-89e4-731df6d92236
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Nov 17, 2022 04:43
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I mean if we can’t trust the financial, political, and religious advice of our country’s top athletes, then who can we trust?!?
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Nov 17, 2022 04:47
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drk posted:For those asking about the class action against FTX et al, I skimmed enough of it to summarize why he's suing and his laughable reasons for why various people and organizations owe him money or something https://www.youtube.com/watch?v=kJTwwfS4vBs not completely, but somewhat culpable. He bought into it and advertised for it.
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Nov 17, 2022 04:57
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he's trying to sue larry david for appearing in FTX ads where he plays an anti-crypto luddite lol
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Nov 17, 2022 05:03
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Mumpy Puffinz posted:Nope. Sorry. That person put their name, that they want to protect, on an inferior, or dangerous product. They should also be held accountable I got severely beaten by a mob who used George Foreman grills and successfully sued the George Foremans (George Foreman and his five large adult George Foreman sons) for $40 million.
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Nov 17, 2022 05:05
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Chief McHeath posted:I got severely beaten by a mob who used George Foreman grills and successfully sued the George Foremans (George Foreman and his five large adult George Foreman sons) for $40 million. Wait, George Forman Grills don't collect cryptocurrency? Then why do I have 400 of them running in my kitchen at all times?
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Nov 17, 2022 05:14
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it's the George Freeman Grill that's into crypto
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Nov 17, 2022 05:15
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Chief McHeath posted:I got severely beaten by a mob who used George Foreman grills and successfully sued the George Foremans (George Foreman and his five large adult George Foreman sons) for $40 million. the Georges Foreman
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Nov 17, 2022 05:16
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Georges Foremen
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Nov 17, 2022 05:16
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Dabir posted:Georges Foremen This is the misunderstanding. There are many Georges only one Forman. Its like attorneys general
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Nov 17, 2022 05:18
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So can someone explain terra luna to me? Like what was it suppose to do.
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Nov 17, 2022 05:23
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Ups_rail posted:So can someone explain terra luna to me? Like what was it suppose to do. its ancient speak for earth moon
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Nov 17, 2022 05:25
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The legal recitations are, uh, "novel" and will likely get most of the defendants yeeted because they vigorously misinterpret what terms like "agent" mean in the context of corporate law. If I use their expanded definitions I can sue the stagehands who helped build the set for Larry David's ad.
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Nov 17, 2022 05:25
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Ups_rail posted:So can someone explain terra luna to me? Like what was it suppose to do. separate rubes from their money
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Nov 17, 2022 05:26
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kw0134 posted:The legal recitations are, uh, "novel" and will likely get most of the defendants yeeted because they vigorously misinterpret what terms like "agent" mean in the context of corporate law. If I use their expanded definitions I can sue the stagehands who helped build the set for Larry David's ad. did any of the famous defendants own any of it? Most stagehands don't own a part of the stage they work on
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Nov 17, 2022 05:29
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kw0134 posted:The legal recitations are, uh, "novel" and will likely get most of the defendants yeeted because they vigorously misinterpret what terms like "agent" mean in the context of corporate law. If I use their expanded definitions I can sue the stagehands who helped build the set for Larry David's ad. Right, he could just sue FTX but they are an empty bag now. I think he's hoping the court will buy his reasons for including at least one of the celebrity defendants who could plausibly pay out a judgement (or settlement).
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Nov 17, 2022 05:30
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Most of the named defendants show up in an ad and the complaint alleges nothing else, including ownership. Further, even if you alleged ownership or some sort of equity stake, that's not an element of fraud (or whatever nonsense it's trying to push). That would mean Worldcom or Enron shareholders defrauded themselves when those companies imploded.
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Nov 17, 2022 05:33
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Like by this complaint's logic, the attorneys general of multiple states should have sued Perdue Pharma for the opioid epidemic, every physician who ever wrote a prescription for oxy, the pharmacist tech who filled it, the truck driver who drove it to the pharmacy, and the guy who put the shrinkwrap on the bottles, because all of them contributed to the sale of the product.
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Nov 17, 2022 05:43
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Ups_rail posted:So can someone explain terra luna to me? Like what was it suppose to do. go from the earth to the moooooooon. it's right there in the name!
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Nov 17, 2022 05:46
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we are the nation of george formation
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Nov 17, 2022 06:26
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https://twitter.com/briab_briar/status/1592994526846939136 I really, really wish SBF responds to this person's DM.
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Nov 17, 2022 06:35
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Ups_rail posted:So can someone explain terra luna to me? Like what was it suppose to do. it was supposed to algorithmically guarantee the price of terra was $1 usd but you might say, the only way to guarantee something is worth a dollar is to have a big pile of dollars with which you buy that something, and this only works until you run out of dollars. and you'd be exactly right and way smarter than anyone who bought luna. anyway the idea was that a 'smart contract' would let anyone exchange terra for $1 worth of luna or $1 worth of luna for 1 terra. so as long as luna is worth anything it pegs the price of terra to $1. anyway eventually the luna guy ran out of dollars to defend the price of luna, it quickly became worthless and the guy is now an international fugitive if it sounds dumb, it's actually even dumber
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Nov 17, 2022 06:35
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smellmycheese posted:https://twitter.com/WallStreetSilv/status/1592935133652619264?s=20&t=0w8NCedlUOESxtW_5Ve6BA I'm not sure who's getting threatened here, actually. If we hold those two accountable will this dude not release that horror of a tape or what?
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Nov 17, 2022 06:41
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notwithoutmyanus posted:https://twitter.com/briab_briar/status/1592994526846939136 Why doesn't this idiot just ask his parents for advice? They're both law professors at Stanford. I'm sure they could tell him to keep his stupid mouth shut.
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Nov 17, 2022 06:45
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Pf. Hikikomoriarty posted:it was supposed to algorithmically guarantee the price of terra was $1 usd Basically terra was the casino chips, that suddenly the casino was no longer able to readily exchange for real money.
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Nov 17, 2022 06:45
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kw0134 posted:The legal recitations are, uh, "novel" and will likely get most of the defendants yeeted because they vigorously misinterpret what terms like "agent" mean in the context of corporate law. If I use their expanded definitions I can sue the stagehands who helped build the set for Larry David's ad. I don't know. I get the point of what you're saying, but when it comes to securities, there could be a bottom line of opening your mouth and saying the word "safe" when you have an undeclared interest in the security. I'm sure there's a lot of precedent actual lawyers can cite, but the securities act of 1934 itself seems pretty amenable to lie+profit=fraud interpretations to me.
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Nov 17, 2022 06:57
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Pf. Hikikomoriarty posted:it was supposed to algorithmically guarantee the price of terra was $1 usd "That sounds dumb, you must not be explaining it right" "Yeah actually it's dumber than that"
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Nov 17, 2022 07:03
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Yeah it started with you’d get like a tenth of a luna for 1 terra dollar, but since the contract was written such that it would print however many luna it would take to make a dollar at the “market price” it was printing trillions of luna towards the end of the death spiral. It’s a spiral since you’re just pumping hyperinflation. Someone cashed in their holdings for a token nobody wants, so now the market price drops because you’re dumping more tokens.
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Nov 17, 2022 07:05
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Regrettable posted:Why doesn't this idiot just ask his parents for advice? They're both law professors at Stanford. I'm sure they could tell him to keep his stupid mouth shut. There's a limit to what can be done when you get the short end of the gene pool when it comes to intelligence, I suppose.
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Nov 17, 2022 07:07
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Regrettable posted:Why doesn't this idiot just ask his parents for advice? They're both law professors at Stanford. I'm sure they could tell him to keep his stupid mouth shut. This guy has thoroughly convinced himself that maximizing his utility function involves never shutting up
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Nov 17, 2022 07:10
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The other important thing about terra/luna is that basically everyone in the crypto ecosystem had massive exposure to it, directly or indirectly. It exploded in early summer and we're still seeing the fallout. FTX's implosion wasn't directly caused by the terra/luna collapse, but it was a significant chunk of what happened, indirectly. Also, all these companies getting paper rich happened in a bill market for crypto. Crypto assets aren't backed by anything but vibes, so once it starts going down, it tends to death spiral. Once all these exchanges/prop desks realized they couldn't get double digit APY anymore while being leveraged to hell, they all started liquidating their loans, almost entirely collateralized with crypto. Which means they have to sell, which means the prices go down, which means the collateral risk on more loans is too risky, so they get liquidated, etc, etc.
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Nov 17, 2022 07:12
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it was a rather clever way to arbitrage against the widely voiced belief in certain crypto spheres that fiat would crash any day now holding luna as a way to short tethercoins, consistent with this outlook of course, fiat did not crash this is one thing that sets the crypto retail period apart from earlier retail investor frenzies, I think - it's so much easier to convert any set of bullshit certainties into an implied set of trades, which then turn out to be very costly indeed ronya fucked around with this message at 07:19 on Nov 17, 2022 |
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Nov 17, 2022 07:15
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Regrettable posted:Why doesn't this idiot just ask his parents for advice? They're both law professors at Stanford. I'm sure they could tell him to keep his stupid mouth shut. Sam, this is your dad, I’m begging you to keep replying to DMs like this
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Nov 17, 2022 08:35
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Wasn't it established he has mush brain from abusing Parkinson's meds? That he's continuing to make the worst decisions shouldn't be too surprising.
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Nov 17, 2022 09:36
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Armitage_Shanks posted:Wasn't it established he has mush brain from abusing Parkinson's meds? That he's continuing to make the worst decisions shouldn't be too surprising. I don't remember which cryptodope we're talking about so I'm just going to assume you're talking about all of them.
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Nov 17, 2022 09:48
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ikanreed posted:I don't know. I get the point of what you're saying, but when it comes to securities, there could be a bottom line of opening your mouth and saying the word "safe" when you have an undeclared interest in the security.
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Nov 17, 2022 10:06
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kw0134 posted:You'd have to prove that A. the spokespersons knew that SBF were perpetuating a fraud at the time of their sponsorship, B. they received crypto that actually represented the fraudulent activity that you're alleging was unlawful. The complaint says they have "emails" and then goes on to quote a bunch of SBF tweets. The conspiracy that ties all the defendants together in knowledge is...where? And what crypto did they receive? If they paid them in bitcoin, guess what, that's not a security. The complaint doesn't even know! A lot of the stuff here might get dismissed under the Twiqbal standard for making bare assertions of a cause of action but not alleging the factual basis that would lead to a court to assume the plaintiffs know what the gently caress they're talking about. As far as everyone involved besides the top people at FTX, you download an app and you give FTX money and you can buy buttcoin. If you want to allege that Shohei Ohtani conspired with everyone to defraud depositors, you're gonna have to do a lot loving better than recite the fact he showed up in an ad. You may as well sue the model for the Marlboro Man for conspiring to give people lung cancer. This is just a longwinded way of saying the law sucks and protects rich people whenever possible. They were hawking a scam.
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Nov 17, 2022 10:43
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https://twitter.com/elonmusk/status/1593161517167702017
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Nov 17, 2022 10:44
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