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Shanghaied
Oct 12, 2004

BIG PAD
Not a headline but a tweet. But it's so rough that the Onion had to delete it and apologise (c-word warning):

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darkwasthenight
Jan 7, 2011

GENE TRAITOR
For rough chucks and not just standard chucks, I'm a fan of this one from the time of the first Arab Spring movement:

The Bible
May 8, 2010


Well then, this seems legit.

Scratch Monkey
Oct 25, 2010

👰Proč bychom se netěšili🥰když nám Pán Bůh🙌🏻zdraví dá💪?

Shanghaied posted:

Not a headline but a tweet. But it's so rough that the Onion had to delete it and apologise (c-word warning):



Also the person in question was 10 at the time

MD2020
May 30, 2003

she had tiny Italian boobs.
Well that's my story.
They did have a pretty good response the following week.

https://www.theonion.com/new-study-finds-the-onion-has-never-been-more-popular-1819574625

Gutcruncher
Apr 16, 2005

Go home and be a family man!

Scratch Monkey posted:

Also the person in question was 10 at the time

Okay now it’s way funnier

Vincent Van Goatse
Nov 8, 2006

Enjoy every sandwich.

Smellrose

Scratch Monkey posted:

Also the person in question was 10 at the time

Yeah, that was the joke.

Zero One
Dec 30, 2004

HAIL TO THE VICTORS!
Matt Levine on closing arguments for SBF:

quote:


Anyway here is Bloomberg’s summary of the prosecution closing, which basically goes through all the times Bankman-Fried decided to spend profligately with customer money:

In September 2022, two months before FTX’s collapse, Bankman-Fried knew that Alameda owed $14 billion to FTX customers, and yet went on to spend more, according to the prosecutor. …

“What did the defendant do? Again he doubled down,” Roos said. In the same month, Bankman-Fried invested $250 million in Modulo Capital, a crypto trading firm, and $45 million on SkyBridge Capital, the investment firm founded by Anthony Scaramucci, as well as making more political donations, Roos said.

This strikes me as very effective. For one thing, yes, spending money on weird stuff while customer money is missing is bad. For another thing, it’s just … like, it’s what I would do, if I was running a big fraud and worried about getting caught and hoping to keep it up? Like at that point the whole game is about confidence, and you spend a lot of money to make people think that you have a lot of money. “FTX can’t be in financial trouble,” people think; “look how much cash it is splashing around.” But then if it turns out you were in financial trouble it looks really bad.

Meanwhile here is Bloomberg’s summary of the defense closing, which, uh:

the defense painted Bankman-Fried as an awkward math nerd with bad fashion sense who in good faith tried to save his crumbling multibillion-dollar empire.

“We will agree there was a time when Sam was probably the worst-dressed CEO in the world and had the worst hair cut,” Cohen told jurors in the New York court.

Seems less effective.



And in other news:

quote:


The Securities and Exchange Commission [Wednesday] charged SafeMoon LLC, its creator Kyle Nagy, SafeMoon US LLC, and the companies’ Chief Executive Officer, John Karony, and Chief Technology Officer, Thomas Smith, for perpetrating a massive fraudulent scheme through the unregistered sale of the crypto asset security, SafeMoon. According to the SEC’s complaint, the Defendants promised to take the price of the token “Safely to the moon,” but instead of delivering profits, they wiped out billions in market capitalization, withdrew crypto assets worth more than $200 million from the project, and misappropriated investor funds for personal use.

“Decentralized finance claims to deliver transparency and predictable outcomes, but unregistered offerings lack the disclosures and accountability that the law demands, and they attract scammers like Kyle Nagy, who use these vulnerabilities to enrich themselves at the expense of others,” said David Hirsch, Chief of the SEC Enforcement Division’s Crypto Assets and Cyber Unit (CACU).


quote:


Anyway SafeMoon’s trick was that if you sold your SafeMoon tokens, the SafeMoon protocol would take a 10% “tax.” Thus buying was good and selling was bad, which kept a floor on the price. (For a while.) Half of the 10% tax was used to pay the yield on the other tokens: If you sell your tokens, you pay 10%; if you hold your tokens, you get half of the money that the sellers pay. This creates a further incentive to hold, and the yield that makes the whole thing attractive. This was called “reflection”; SafeMoon’s whitepaper said:

[T]he reflect mechanism encourages holders to hang onto their tokens to garner higher kick-backs which are based upon a percentages [sic] carried out and dependent upon the total tokens held by the owner. In theory, with the manual burn function … even a small holder at the beginning could potentially walk away with big money at the end of the token’s lifespan.

The other half of the 10% tax was allegedly stolen by the developers, which is why they are in jail now.

WithoutTheFezOn
Aug 28, 2005
Oh no
Hehe, CACU.

Salt Fish
Sep 11, 2003

Cybernetic Crumb
As long as moon-coin can draw in a never-ending supply of new buyers you can reap a never-ending income! It's not a pyramid scheme!

There's like 3 total financial scams in the world, Ponzis, Pyramids, and just Plain Stealing, and its pretty funny to watch every crypto project boil down into one of them.

MechaCrash
Jan 1, 2013

That first quoted bit sounds to my admittedly uneducated ears like "your honor, we are proposing that our client isn't a criminal who perpetrated massive fraud, he's just an idiot who got over his head and panicked."

Impossibly Perfect Sphere
Nov 6, 2002

They wasted Luanne on Lucky!

She could of have been so much more but the writers just didn't care!
lol that is like a ponzi scheme on loving steroids

kw0134
Apr 19, 2003

I buy feet pics🍆

Yes, that's absolutely the sort of defense they had to rely on given that everything else is going to be a bust. That's why so much of the government's cross exam was basically them going "well do you remember when you said otherwise?" or "hey, is this you cackling while twirling your mustache at the stupidity of your investors/depositors?" Fraud requires an intent to deceive or some act of negligence so profound it's indistinguishable from active deception. Poor little Sam made a few bets and his underlings did things behind his back and everything blew up, honest!

Impossibly Perfect Sphere
Nov 6, 2002

They wasted Luanne on Lucky!

She could of have been so much more but the writers just didn't care!
Was reading about SafeMoon and came across this bit:

quote:

Liquidity pool hack
On March 29 2023, it was reported that almost $9 million USD worth of SafeMoon tokens were depleted from SafeMoon's liquidity pool after hackers exploited a security flaw in its smart contracts. As a result, the price of the token fell further in value.[48] The hacker agreed to return only 80% ($7 million) of the stolen liquidity after striking a deal with the team to keep $2 million of the stolen tokens.[49]

Imagine if someone stole $9M of customer's money from a bank and then negotiated to keep $2M lol.

BallerBallerDillz
Jun 11, 2009

Cock, Rules, Everything, Around, Me
Scratchmo

Salt Fish posted:

As long as moon-coin can draw in a never-ending supply of new buyers you can reap a never-ending income! It's not a pyramid scheme!

There's like 3 total financial scams in the world, Ponzis, Pyramids, and just Plain Stealing, and its pretty funny to watch every crypto project boil down into at least one of them.

notwithoutmyanus
Mar 17, 2009

Salt Fish posted:

As long as moon-coin can draw in a never-ending supply of new buyers you can reap a never-ending income! It's not a pyramid scheme!

There's like 3 total financial scams in the world, Ponzis, Pyramids, and just Plain Stealing, and its pretty funny to watch every crypto project boil down into one of them.

BallerBallerDillz posted:

(requote of saltfish)

I don't think there's a difference here. I've yet to see any crypto project ever *not* fall into these categories.

I'm waiting for all the "Seed investment/seed capital" "equity raises" crypto stuff to get exposed as ponzis + stealing, but it'll be years probably.

notwithoutmyanus fucked around with this message at 22:41 on Nov 2, 2023

Neito
Feb 18, 2009

😌Finally, an avatar the describes my love of tech❤️‍💻, my love of anime💖🎎, and why I'll never see a real girl 🙆‍♀️naked😭.

The best Onion article is obvious the one repeated so often it got a wikipedia article:

https://en.wikipedia.org/wiki/%27No_Way_to_Prevent_This,%27_Says_Only_Nation_Where_This_Regularly_Happens

Horseshoe theory
Mar 7, 2005

Impossibly Perfect Sphere posted:

Was reading about SafeMoon and came across this bit:

Imagine if someone stole $9M of customer's money from a bank and then negotiated to keep $2M lol.

They hacked themselves, OP, so they kept all of it (just like Mt. Gox).

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish

Horseshoe theory posted:

They hacked themselves, OP, so they kept all of it (just like Mt. Gox).

MARK
DID
NOTHING
WRONG

Three Olives
Apr 10, 2005

Don't forget Hitler's contributions to medicine.
https://twitter.com/eorden/status/1720224398962028881

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish

https://twitter.com/awfuljesse/status/1720163217832640728

Squiggle
Sep 29, 2002

I don't think she likes the special sauce, Rick.


This is a weird question that I actually can't even consider a scenario where it would happen, but - if a verdict is reached but not read out loud, is it still...a thing?

I'm assuming there's some judicial standard that a verdict has to be read publicly/in court directly to the accused?

Three Olives
Apr 10, 2005

Don't forget Hitler's contributions to medicine.

Squiggle posted:

This is a weird question that I actually can't even consider a scenario where it would happen, but - if a verdict is reached but not read out loud, is it still...a thing?

I'm assuming there's some judicial standard that a verdict has to be read publicly/in court directly to the accused?

Actually I think it is for the partially for the jurors themselves. When I served on a jury the foreperson filled out all the paperwork and the judge asked us to affirm that that it was correct in front of the defendant and him.

Zero One
Dec 30, 2004

HAIL TO THE VICTORS!
Guilty on all charges.

He faces 110 years.


quote:


Sam Bankman-Fried, the tousle-haired mogul who founded the FTX cryptocurrency exchange, was convicted on Thursday of all seven charges of fraud and conspiracy after a monthlong trial that laid bare the hubris and risk-taking across the crypto industry. These charges carry a maximum sentence of 110 years.

Mr. Bankman-Fried became a symbol of crypto’s excesses last year, when FTX collapsed and he was charged with stealing as much as $10 billion from customers to finance political contributions, venture capital investments and other extravagant spending.

Mr. Bankman-Fried, 31, is expected to appeal.

The jury of nine women and three men began deliberations on Thursday afternoon following nearly two weeks of testimony spread out over the past month. Witnesses — including his one-time girlfriend Caroline Ellison, who ran Alameda Research, a crypto trading firm he founded — blamed Mr. Bankman-Fried for the sudden failure of both companies less than a year ago.

Federal prosecutors accused Mr. Bankman-Fried of treating FTX as his personal piggy bank, saying he had used customer money to bolster his ambitions and prop up Alameda Research.

The trial moved faster than anticipated with the prosecution calling more than a dozen witnesses — but fewer than they had planned. The defense called just three witnesses, including Mr. Bankman-Fried, whose testimony before the jury spanned parts of three days.

Zero One fucked around with this message at 00:57 on Nov 3, 2023

Squiggle
Sep 29, 2002

I don't think she likes the special sauce, Rick.


Lol bye bitch

Seth Pecksniff
May 27, 2004

can't believe shrek is fucking dead. rip to a real one.
Lmao that's extraordinarily fast

Can't wait for the inevitable "SBF thrown into solitary after attempting to smuggle in a computer to play league of legends"

Three Olives
Apr 10, 2005

Don't forget Hitler's contributions to medicine.
https://twitter.com/molcranenewman/status/1720228328571908390

limp dick calvin
Sep 1, 2006

Strepitoso. Vedete? Una meraviglia.
Paulie did the prep-work, and he had this wonderful system for doing the shrimp . He used a razor. And he used to slice it so thin that it used to liquify in the pan with just a little oil.

Deptfordx
Dec 23, 2013

drat, did they bother with the full 15 minutes for the look of it, or did they just walk through a revolving door Futurama style?

LifeSunDeath
Jan 4, 2007

still gay rights and smoke weed every day

:lol:
:sickos:
wonder how much shrimp he'll get in prison?

Three Olives
Apr 10, 2005

Don't forget Hitler's contributions to medicine.

Seth Pecksniff posted:

Lmao that's extraordinarily fast

It was probably much faster, when I sent someone away for life we basically were all in agreement that they were guilty as all gently caress and then spent like hours debating hypotheticals and debating racial justice before we were all finally like, OK, we have beaten this horse to death, guy is guilty as gently caress right? Right. Inform the judge!

https://twitter.com/molcranenewman/status/1720229239100760169

Dude finally realized how hosed he is.

notwithoutmyanus
Mar 17, 2009

Seth Pecksniff posted:

Lmao that's extraordinarily fast

Can't wait for the inevitable "SBF thrown into solitary after attempting to smuggle in a computer to play league of legends"

They may have even finished deliberation before the jurors got their pizza.

Ariong
Jun 25, 2012

Get bashed, platonist!

Three Olives posted:

It was probably much faster, when I sent someone away for life we basically were all in agreement that they were guilty as all gently caress and then spent like hours debating hypotheticals and debating racial justice before we were all finally like, OK, we have beaten this horse to death, guy is guilty as gently caress right? Right. Inform the judge!

https://twitter.com/molcranenewman/status/1720229239100760169

Dude finally realized how hosed he is.

That makes sense. Like, "we can all see this person is undoubtedly guilty, but given that we are deciding whether or not to permanently deprive a person of their freedom, we are ethically obligated to consider every possible argument against the obvious conclusion."

LifeSunDeath
Jan 4, 2007

still gay rights and smoke weed every day


LOL

Bip Roberts
Mar 29, 2005
Rip bitch

Seth Pecksniff
May 27, 2004

can't believe shrek is fucking dead. rip to a real one.
Did SBF really think he was going to get away with this? He couldn't have been that delusional

Wonder what Seraph thinks of this

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish

Seth Pecksniff posted:

Did SBF really think he was going to get away with this? He couldn't have been that delusional

He's just so smart if only he can get the chance to explain.

Three Olives
Apr 10, 2005

Don't forget Hitler's contributions to medicine.

Ariong posted:

That makes sense. Like, "we can all see this person is undoubtedly guilty, but given that we are deciding whether or not to permanently deprive a person of their freedom, we are ethically obligated to consider every possible argument against the obvious conclusion."

After the the verdict the the public defenders were just like, meh.

But actually, they did not tell us it was a de facto automatic life sentence, probably for that reason. However, the crimes were so serious, I would come home from trial and cry, I haven't even told my husband any specifics about the crimes, they were so horrific, like, honestly too hosed up for a horror film that we knew it was pretty loving serious.

edit: Multiple victims of hours of the most horrific sexual torture you can imagine at the end of a deadly weapon where he told them he was going to kill them after he was done using them. All the victims were random, which apparently is just like, totally hosed up even for the crimes that he committed.

Three Olives fucked around with this message at 01:18 on Nov 3, 2023

Strong Sauce
Jul 2, 2003

You know I am not really your father.





does effective altruism account for what happens if you end up in jail?

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Three Olives
Apr 10, 2005

Don't forget Hitler's contributions to medicine.

Strong Sauce posted:

does effective altruism account for what happens if you end up in jail?

Yes, actually it is equally as effective.

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