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VOICE ARCHIVE

Dave Lauer

@dlauer
38 posts
2025-01-14
Robinhood was fined $45M today for “violations of federal statutes and regulations related to blue sheet filing, short selling, identity theft, recordkeeping, and suspicious activity reporting between at least 2018 and April 2024”. Ya know, just some small problems.
2025-01-14 View on X
CNBC

The US SEC says that two Robinhood broker-dealers agreed to pay $45M in combined penalties to settle charges that they violated 10+ securities law provisions

Dan Mangan / CNBC :

2024-12-05
It's confirmed that Paul Atkins will be the new SEC Chair. This is quite bullish for crypto, as he was a member of a cryptocurrency advocacy organization. In terms of equity market reforms, Atkins voted against Reg NMS in 2005, and will likely prefer a hands-off approach.
2024-12-05 View on X
New York Times

Trump picks former SEC Commissioner Paul Atkins, who is seen as a strong advocate for looser regulation of crypto assets, to succeed Gary Gensler as SEC Chair

Mr. Atkins, a pro-business conservative, would likely take a lighter regulatory approach than the current chair of the Securities and Exchange Commission.

2024-06-04
WTF? Is Morgan Stanley also going to kick off the hedge fund managers who go on CNBC to pump their book? Insane double standard here. https://www.wsj.com/... [image]
2024-06-04 View on X
Wall Street Journal

Sources: E*Trade is weighing kicking meme stock leader Keith Gill off its site over GameStop stock manipulation concerns; GME is up 60%+ since Gill reappeared

Morgan Stanley's trading platform discusses concerns about possible manipulation in GameStop  —  E*Trade is considering telling …

2023-11-04
SBF found guilty on all charges. Faces over 100 years in prison. Wow, that was quick, took the jury less than 5 hours.
2023-11-04 View on X
TechCrunch

A jury finds Sam Bankman-Fried guilty on all seven counts of fraud and money laundering in the FTX trial; the judge sets SBF's sentencing for March 28, 2024

and what comes next Qadir AK / Coinpedia Fintech News : DOJ Cracks Down: Binance and Tether Face Terrorism Financing Charges PC Gamer : ‘The king of crypto’ found guilty of fraud, ...

2023-11-03
SBF found guilty on all charges. Faces over 100 years in prison. Wow, that was quick, took the jury less than 5 hours.
2023-11-03 View on X
TechCrunch

A jury finds Sam Bankman-Fried guilty on all seven counts of fraud and conspiracy in the FTX trial; the judge sets SBF's sentencing for March 28, 2024

Sam Bankman-Fried, the co-founder and former CEO of crypto exchange FTX and trading firm Alameda Research, has been found guilty …

2023-06-07
SEC goes after Coinbase: https://storage.courtlistener.com/ ... Looks like operating an unregistered broker, exchange and clearing agency might be a problem. [image]
2023-06-07 View on X
Bloomberg

A look at the similarities and differences between the SEC's lawsuits against Coinbase and Binance, as the SEC views every crypto exchange in the US as illegal

SEC v. Crypto  —  “A decent rule of thumb,” I wrote in March, “is that all cryptocurrency exchanges are doing crimes …

This is an important point - once SEC calls them securities, there are registration & disclosure requirements. They specifically cite the concern about selective disclosure. They also point to past enforcement cases establishing security status for assets that continued trading. [image]
2023-06-07 View on X
Bloomberg

A look at the similarities and differences between the SEC's lawsuits against Coinbase and Binance, as the SEC views every crypto exchange in the US as illegal

SEC v. Crypto  —  “A decent rule of thumb,” I wrote in March, “is that all cryptocurrency exchanges are doing crimes …

2023-06-06
SEC goes after Coinbase: https://storage.courtlistener.com/ ... Looks like operating an unregistered broker, exchange and clearing agency might be a problem. [image]
2023-06-06 View on X
Bloomberg

The SEC sues Coinbase, alleging the exchange operated as an unregistered broker since at least 2019 and broke the rules by offering “staking”; COIN drops 15%+

The Securities and Exchange Commission sued Coinbase Global Inc. in federal court in New York on Tuesday, alleging the crypto firm for years broke its rules.

This is an important point - once SEC calls them securities, there are registration & disclosure requirements. They specifically cite the concern about selective disclosure. They also point to past enforcement cases establishing security status for assets that continued trading. [image]
2023-06-06 View on X
Bloomberg

The SEC sues Coinbase, alleging the exchange operated as an unregistered broker since at least 2019 and broke the rules by offering “staking”; COIN drops 15%+

The Securities and Exchange Commission sued Coinbase Global Inc. in federal court in New York on Tuesday, alleging the crypto firm for years broke its rules.

2023-01-13
See this is just so disingenuous. Credit Suisse is engaged in fractional reserve banking - an exchange should be fully collateralized. He conveniently neglects to mention Alameda not being included in margin calcs & the accounting tricks to keep or move customer funds to Alameda. https://twitter.com/...
2023-01-13 View on X
Axios

Sam Bankman-Fried publishes a Substack post offering his account of how FTX collapsed, sticking to his claims of innocence even after ex-executives pled guilty

think there shouldn't be a paying option anymore... Dave Weisberger / @daveweisberger1 : https://www.wsj.com/... It is tiresome to read SBF's half truths. 1/ His claims about Binan...

So SBF has written a “pre-mortem” to try to explain away the theft of FTX customer assets. It's worth a read, but of course keep in mind even if true (which is highly unlikely), theft is theft - it doesn't matter how you explain it away or justify it. https://sambf.substack.com/...
2023-01-13 View on X
Axios

Sam Bankman-Fried publishes a Substack post offering his account of how FTX collapsed, sticking to his claims of innocence even after ex-executives pled guilty

think there shouldn't be a paying option anymore... Dave Weisberger / @daveweisberger1 : https://www.wsj.com/... It is tiresome to read SBF's half truths. 1/ His claims about Binan...

2023-01-12
See this is just so disingenuous. Credit Suisse is engaged in fractional reserve banking - an exchange should be fully collateralized. He conveniently neglects to mention Alameda not being included in margin calcs & the accounting tricks to keep or move customer funds to Alameda. https://twitter.com/...
2023-01-12 View on X
Axios

Sam Bankman-Fried publishes a Substack post offering his account of how FTX collapsed, sticking to his claims of innocence, even as ex-executives plead guilty

Disgraced FTX founder Sam Bankman-Fried on Thursday published his account of how the crypto company collapsed.

So SBF has written a “pre-mortem” to try to explain away the theft of FTX customer assets. It's worth a read, but of course keep in mind even if true (which is highly unlikely), theft is theft - it doesn't matter how you explain it away or justify it. https://sambf.substack.com/...
2023-01-12 View on X
Axios

Sam Bankman-Fried publishes a Substack post offering his account of how FTX collapsed, sticking to his claims of innocence, even as ex-executives plead guilty

Disgraced FTX founder Sam Bankman-Fried on Thursday published his account of how the crypto company collapsed.

2022-12-14
SDNY indictment against SBF has been unsealed. He's being charged with wire fraud and several conspiracies to commit: wire, commodities and securities fraud along with money laundering. Also campaign finance violations. They're throwing the book at him. https://www.docdroid.net/...
2022-12-14 View on X
Bloomberg

The DOJ charged SBF with violating campaign finance laws, creating a showdown over what could be the biggest recent illegal infusion of money in US politics

Sam Bankman-Fried, the second biggest Democratic donor in the 2022 election cycle, is charged with violating campaign finance laws …

SDNY indictment against SBF has been unsealed. He's being charged with wire fraud and several conspiracies to commit: wire, commodities and securities fraud along with money laundering. Also campaign finance violations. They're throwing the book at him. https://www.docdroid.net/...
2022-12-14 View on X
CNBC

Citing Sam Bankman-Fried's flight risk, a Bahamas magistrate judge denies him bail and says he should be remanded to Bahamian custody until February 8, 2023

who is asking his client be let out on bail. Sarah Emerson / @sarahnemerson : NEW: SBF + his counsel have been in Bahamian court all day fighting extradition. Prosecutors argued he...

2022-12-13
US has filed criminal charges against SBF and he's been arrested for extradition. https://twitter.com/...
2022-12-13 View on X
CNBC

Bahamas AG Ryan Pinder and US SDNY Attorney Damian Williams confirm Bahamas police arrested Sam Bankman-Fried, who is under indictment and could be extradited

- The cofounder and former CEO of bankrupt crypto trading firm FTX was arrested in the Bahamas after the U.S. attorney …

US has filed criminal charges against SBF and he's been arrested for extradition. https://twitter.com/...
2022-12-13 View on X
U.S. Securities and Exchange Commission

The SEC charges Sam Bankman-Fried with defrauding investors and concealing diverting FTX customer funds to Alameda while raising $1.8B+ since at least May 2019

Defendant concealed his diversion of FTX customers' funds to crypto trading firm Alameda Research while raising more than $1.8 billion from investors

2022-06-30
@mmitchell_ai ... I'll defer to you on that, I tend to look for economic explanations, and maybe am too reductionist - you obviously (unfortunately) lived it.
2022-06-30 View on X
Wall Street Journal

Researchers warn that some businesses exaggerate AI's capabilities, brewing misunderstanding and distorting policymakers' views of AI's power and fallibility

Google, Meta and OpenAI are investing heavily in the technology, which is increasingly capturing the public imagination

Excellent article from @_KarenHao on the collision of AI ethics, Big Tech, and the AI hype cycle. Big Tech is pushing the hardest on AI, and they're the companies that we REALLY don't want to be pouring this kind of money into the field. https://twitter.com/...
2022-06-30 View on X
Wall Street Journal

Researchers warn that some businesses exaggerate AI's capabilities, brewing misunderstanding and distorting policymakers' views of AI's power and fallibility

Google, Meta and OpenAI are investing heavily in the technology, which is increasingly capturing the public imagination

Even worse, these monopolies are so powerful that they are, at the moment, practically unregulated. Hopefully the political winds are shifting, but until then, we depend on them to fix their own problems. Good luck with that.
2022-06-30 View on X
Wall Street Journal

Researchers warn that some businesses exaggerate AI's capabilities, brewing misunderstanding and distorting policymakers' views of AI's power and fallibility

Google, Meta and OpenAI are investing heavily in the technology, which is increasingly capturing the public imagination