Re:Sam Bankman-Fried found guilty on all charges
by rchaud on Friday November 03, 2023 @02:29PM
(#38132895)
Sequoia likely made plenty of money by underwriting their in-house e-coin FTT, hyping up SBF across the media, and then dumping FTT on retail investors afterwards.
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Re:Sam Bankman-Fried found guilty on all charges
by StressedDev on Friday November 03, 2023 @05:54PM
(#38135508)
Do you have any proof they did that? That is a very serious accusation to make.
Re:Sam Bankman-Fried found guilty on all charges
by rchaud on Saturday November 04, 2023 @01:55PM
(#38143493)
No proof, because absolutely nothing was audited. That's the whole point of crypto, avoiding securities regulations.
Regardless, what I'm describing is exactly what an investment bank does for a legit public company. They purchase shares from the issuing company to guarantee a certain amount of capital for the company, and then sell it on the secondary market, which in most cases would be to other invstment groups or directly on the NYSE. The difference is that those companies issue S-1s disclosing their performance and numbers, allowing secondary market investors to make an informed buying decision.
https://corporatefinanceinstitute.com/resources/career-map/s...