December 13, 2022: SB-Effed ๐ฎ๐
W-H-A-T-H-A-P-P-E-N-E-D?
Today is a day for celebration. BTC maxis and ETH maxis unite! Flywheelers and death spiralooors, join together in common cause! We got โem!
Yesterday began as a day like any other. Yet more heinous revelationsโฆ
More rambling Twitter spacesโฆ
Then the blessed news broke.
Catharsis, maybe, but what next? Billions of dollars remain missing. Burnt investorsโ only hope is that the Bahamian police were sporting body camerasโฆ
SBF was arrested just one day before his scheduled Congressional testimony. Perhaps this worked to his benefit, allowing the motor-mouth to avoid at least one additional perjury charge.
Yet we donโt really grok the surprising number of takes who suggest this arrest was somehow coordinated, to protect SBF from testifying before Congress. Sure, we fully admit hanging around with hundreds of politicians sounds like a nightmare. But itโs something SBF actually seemed to enjoy. At any rate, heโs been spared a far worse fate.
The real victims, apparently, are the pols who lost an opportunity to grandstand.
While it may have been fun to watch him squirm again amidst hostile questioning, we couldnโt bear another round of cringe softballs from his steadfast supporters.
At any rate, heโs facing a far worse fate. The charges being thrown at SBF are quite the laundry list.
His failed attempts at PR over the past month and largescale bribery appear to be for naught. Everybody has turned against him.
So many questions left to answer. Is Caroline next in line? Informant?
What of Tabasco?
Is this good for our bags?
As much as weโd like to never hear the initials SBF again, we sadly recognize this is more the beginning than the end. SBF interfaced with a variety of corrupt politicians. They doubtless hope making SBF the fall guy will cover up their own complicity. Itโs our job to keep their feet to the fire.
In particular, keep an eye out for attempts to whitewash court eunuch Gary Genslerโs role in the fiasco. Our community aim is now to force Gensler to retire early in utter disgrace.
Instead, the SEC is playing offense, potentially looking to expand its powers to be misused against other crypto companies. This has to be a hard โnoโ.
