How soon until Bitcoin crashes?

…and how many Sam’s there will be…🤦🏽‍♂️😂😂😂

Silicon Valley May Never Learn Its Lesson-There Will Be Another Sam Bankman-Fried

Bankman-Fried’s charges together carry a maximum sentence of 110 years. Judge Lewis Kaplan, who oversaw the trial, is set to determine his sentence in March. Outside the courthouse this evening, the U.S. attorney for the Southern District of New York, Damian Williams, told reporters that “this kind of corruption is as old as time.” Mark S. Cohen, Bankman-Fried’s lawyer, said in a statement, “We respect the jury’s decision. But we are very disappointed with the result. Mr. Bankman-Fried maintains his innocence and will continue to vigorously fight the charges against him.” He will likely appeal.

One unintended outcome of this fiasco, according to Margaret O’Mara, a historian at the University of Washington and the author of The Code: Silicon Valley and the Remaking of America, may be that founders shy away from getting involved in politics and philanthropy. (SBF, after all, pledged “north of $100 million” to defeat Donald Trump in 2024.) This scandal—and the intense amount of vitriol raining down on a founder who twisted idealism into fraud—might lead Silicon Valley’s power brokers to say, “This is what happens when we don’t stick to building,” O’Mara told me.

Tech investors still have a lot of money to invest, of course. Now that the crypto boom is over, they have set their sights on generative AI—a technology that may be better defined than crypto but still has plenty of skeptics. Sam Altman, the controversial CEO of OpenAI, is an excellent spokesperson for his company, O’Mara said. He has already appeared in Washington to present to lawmakers his version of the story of AI—one in which the technology is careening toward world-ending potential. “If history is any indication,” O’Mara said, investors and founders “will go full steam ahead.”

https://www.msn.com/en-us/money/companies/silicon-valley-may-never-learn-its-lesson/ar-AA1jiVvh
 
Bahahaha…idiots!…😂😂😂🤦🏽‍♂️

Binance CEO Changpeng Zhao steps down and reveals 'it was not easy to let go' as he pleads guilty to violating anti-money laundering rules and crypto exchange pays $4.3BN in fines​

  • Zhao agreed to a guilty plea in Seattle on Tuesday and to step down as CEO
  • Richard Teng, Binance's former Global Head of Regional Market, is the new CEO
  • The deal with prosecutors brings an end to years-long investigations by US regulators into Binance while allowing the company to continue running
  • www.seattletimes.com

    Binance founder pleads guilty in Seattle; company to pay $4.3 billion

    Binance founder and CEO Changpeng Zhao pleaded guilty at a Seattle federal court on Tuesday of violating U.S. anti-money-laundering laws.
    www.seattletimes.com www.seattletimes.com
 
Liar Loan said:
Charlie Munger is a national treasure. I wish this guy could live for another 100 years.

Berkshire Hathaway?s Charlie Munger compares crypto to ?venereal disease?

https://nypost.com/2022/02/17/berkshire-hathaways-munger-crypto-like-a-venereal-disease/
Click to expand...

Well, we lost the old guy yesterday, but his wit and his wisdom will live on:

“Competency is a relative concept. ... What I needed to get ahead was to compete against idiots. And luckily there’s a large supply.”
~Charlie Munger
 
Nothing has changed and the scam goes on…just another group of suckers enter the trap…

Heroes to zeroes in 12 months: How the two biggest crypto billionaire CEOs proved the critics right​

  • After a brutal 18 months of bankruptcies, company failures and criminal trials, the crypto market is starting to claw back some of its former standing.
  • But even as prices swell, the sector’s reputation has struggled to regain ground after names virtually synonymous with bitcoin have both been found guilty of crimes directly related to their multibillion-dollar crypto empires.
  • FTX’s Sam Bankman-Fried and Binance’s Changpeng Zhao went from industry titans to convicted frauds in the span of 12 months.
www.cnbc.com

Heroes to zeroes in 12 months: How the two biggest crypto billionaire CEOs proved the critics right

FTX's Sam Bankman-Fried and Binance's Changpeng Zhao both went from industry titans to convicted frauds in the span of 12 months.
www.cnbc.com www.cnbc.com

 
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The end is near, listened to two punks in a grocery store yesterday talking about how much money they made in their Coinbase accounts on bitcoin and the play they were about to make on Ethereum. Reminds me of 2005 when I rode an elevator up with two guys who worked for the border patrol bragging about how many homes they were flipping in Riverside. 😂😂😂😂
 
always goes on a little bit longer than we suspect, but the end is always the same and always spectacular!😂😂😂
 
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