News for hackers. Stuff that matters.

A comment on SEC Charges Samuel Bankman-Fried with Defrauding Investors in FTX [pdf]. Parent comment

Re:SEC Charges Samuel Bankman-Fried with Defrauding Investor... by nikanj on Tuesday December 13, 2022 @08:27AM (#33968514)
The various players in crypto space have written a ton of EULA mumbo-jumbo explaining that the coins are not securities (as they want the freedom to pump&dump/front run orders/etc). If they admitted the cryptos are securities, all sorts of pesky regulations would apply
[ Parent | on HN ]
Re:SEC Charges Samuel Bankman-Fried with Defrauding Investor... by MrPatan on Tuesday December 13, 2022 @08:31AM (#33968550)
Stealing securities you're supposed to store for me is a crime.

Stealing non-securities you're supposed to store for me is also a crime.

[ Parent | on HN ]
Re:SEC Charges Samuel Bankman-Fried with Defrauding Investor... by master_crab on Tuesday December 13, 2022 @08:35AM (#33968598)
Yup. At the end of the day, this isn’t complicated. The man directed assets (whatever you label them) that were clearly meant for the use of the owner only into SBFs investment vehicle for his use (Alameda).

He stole coins, period.

[ Parent | on HN ]
Re:SEC Charges Samuel Bankman-Fried with Defrauding Investor... by Sporktacular on Tuesday December 13, 2022 @10:11AM (#33969859)
Yes, thank you! So many comments are like "it's a crypto investment, you shouldn't expect safety" when they weren't investments but holdings. As if this was just market forces at play. They have no idea about happened here.
[ Parent | on HN ]
Re:SEC Charges Samuel Bankman-Fried with Defrauding Investor... by freejazz on Tuesday December 13, 2022 @01:57PM (#33973935)
Admitting or not that something is a security is not a requisite for the thing to be found to be a security.
[ Parent | on HN ]