tag:blogger.com,1999:blog-4503292949532760618.post7046825984274743245..comments2024-03-28T13:39:27.601-07:00Comments on DSHR's Blog: DominoesDavid.http://www.blogger.com/profile/14498131502038331594noreply@blogger.comBlogger21125tag:blogger.com,1999:blog-4503292949532760618.post-29296621635200541742023-10-16T06:14:28.903-07:002023-10-16T06:14:28.903-07:00Olga Kharif and Anna Irrera note the air of desper...Olga Kharif and Anna Irrera note the air of desperation in <a href="https://www.bloomberg.com/news/articles/2023-10-16/crypto-lending-returns-coinbase-binance-try-to-revive-revenues" rel="nofollow"><i>Crypto Exchanges in ‘Existential Struggle’ Embrace Lending</i></a>:<br /><br />"Crypto lending is still small compared with the leverage bubble that took down large swathes of the sector when it burst in 2022, and executives say they’ve taken pains to avoid a repeat. Yet the comeback risks creating new opaque pockets of leverage across crypto markets that could exacerbate the impact of any major correction in prices.<br /><br />A more urgent concern for exchanges may be that the initiatives are showing few signs of rekindling moribund trading."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-13967352470795661802023-10-11T15:42:55.604-07:002023-10-11T15:42:55.604-07:00Olga Kharif reports that Coinbase’s Quarterly Cryp...Olga Kharif reports that <a href="https://www.bloomberg.com/news/articles/2023-10-11/coinbase-coin-trading-volume-is-likely-lowest-since-before-public-debut" rel="nofollow"><i>Coinbase’s Quarterly Crypto Trading Volume Likely Lowest Since Before Public Debut</i></a>:<br /><br />"The largest US digital-asset platform registered about $76 billion in spot trading volume, a drop of 52% from the year-ago period, according to data compiled by researcher CCData. The tally is also likely the least since before the company’s much ballyhooed direct listing on the Nasdaq Stock Market in April 2021, or just months before prices of cryptocurrencies peaked.<br />...<br />Coinbase is forecast to post a seventh consecutive quarterly loss when it releases results on Nov. 2, according to analysts surveyed by Bloomberg."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-47379140088056528322023-01-26T07:38:38.554-08:002023-01-26T07:38:38.554-08:00Cagan Koc reports that Coinbase Gets Dutch Fine fo...Cagan Koc reports that <a href="https://www.bloomberg.com/news/articles/2023-01-26/coinbase-fined-in-netherlands-for-operating-without-registration" rel="nofollow"><i>Coinbase Gets Dutch Fine for Operating Without Registration</i></a>:<br /><br />"The Dutch Central Bank fined crypto exchange Coinbase for providing digital-asset services in the country prior to its local registration in September.<br /><br />The central bank said Thursday it’s imposing an administrative fine of €3.33 million ($3.63 million) on Coinbase Europe Ltd. for operating in the country without registering with the monetary authority. Coinbase obtained its registration in the Netherlands on Sept. 22."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-58916616158489784112023-01-24T06:56:37.439-08:002023-01-24T06:56:37.439-08:00The payment processors servicing Binance, Huboi, N...The payment processors servicing Binance, Huboi, Nexo and other exchanges are "totally legit", as Dirty BNubble Media reports in <a href="https://dirtybubblemedia.substack.com/p/the-russian-linked-payment-processors?" rel="nofollow"><i>The Russian-Linked Payment Processors Feeding the Crypto-conomy</i></a>:<br /><br />"Advcash’s clients include the crypto exchanges Binance, Huobi, OKCoin, and the Nexo crypto lending firm. It turns out this company, while legally domiciled in Belize, actually appears to be operated out of Eastern Europe and Russia. Its founder and CEO is tied to at least one failed cryptocurrency scheme. And it turns out that another major crypto payments firm shares links to both Advcash and to the same crypto scam…"David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-72766300350737557402023-01-20T09:31:20.096-08:002023-01-20T09:31:20.096-08:00David Yaffe-Bellany reports that Genesis, a Crypto...David Yaffe-Bellany reports that <a href="https://www.nytimes.com/2023/01/20/technology/genesis-bankruptcy-crypto.html" rel="nofollow"><i>Genesis, a Crypto Lending Firm, Files for Bankruptcy</i></a>:<br /><br />"A year ago, Genesis and a group of other large lending firms drew millions of customers with the promise that they could deposit their crypto holdings and earn sky-high returns. But Genesis’s bankruptcy filing makes it the fourth major crypto lender to fail since last spring, when a downturn in the digital asset market <a href="https://www.nytimes.com/2022/05/12/technology/cryptocurrencies-crash-bitcoin.html" rel="nofollow">sent prices plunging</a>. Other major lenders that have gone out of business include <a href="https://www.nytimes.com/2022/07/25/podcasts/the-daily/cryptocurrency-celsius-network.html" rel="nofollow">Celsius Network</a> and Voyager Digital, whose customers lost billions of dollars in deposits."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-38428034568053934392023-01-18T11:01:23.968-08:002023-01-18T11:01:23.968-08:00Rachel Butt and Olga Kharif report that Crypto Fir...Rachel Butt and Olga Kharif report that <a href="https://www.bloomberg.com/news/articles/2023-01-18/crypto-firm-genesis-said-to-prepare-bankruptcy-filing-as-soon-as-this-week" rel="nofollow"><i>Crypto Firm Genesis Is Preparing to File for Bankruptcy</i></a>:<br /><br />"Genesis Global Capital is laying the groundwork for a bankruptcy filing as soon as this week, according to people with knowledge of the situation.<br /><br />The cryptocurrency lending unit of Digital Currency Group has been in confidential negotiations with various creditor groups amid a liquidity crunch. It has warned that it may need to file for bankruptcy if it fails to raise cash, Bloomberg previously reported."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-84123672679410177832023-01-16T11:29:15.391-08:002023-01-16T11:29:15.391-08:00Izabella Kaminska's interview with David Gerar...Izabella Kaminska's <a href="https://the-blindspot.com/spot-markets-live-transcript-13-01-23/" rel="nofollow">interview with David Gerard</a> was "sponsored by Big Nocoin, the Federal Reserve and the Pentagon" and is well worth a read.David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-26374556754210014122023-01-10T07:04:47.989-08:002023-01-10T07:04:47.989-08:00Philip Lagerkranser and Yueqi Yang report that Coi...Philip Lagerkranser and Yueqi Yang report that <a href="https://www.bloomberg.com/news/articles/2023-01-10/coinbase-to-cut-workforce-by-about-950-employees-in-crypto-slump" rel="nofollow"><i>Coinbase Eliminates 20% of Staff in Latest Round of Layoffs</i></a>:<br /><br />"Coinbase Global Inc. is firing about 950 employees, or 20% of its workforce, as the worsening crypto slump spurs another round of layoffs at the biggest US digital-asset exchange. <br /><br />Co-founder and Chief Executive Officer Brian Armstrong announced the job reductions in a <a href="https://www.coinbase.com/blog/a-message-from-ceo-and-co-founder-brian-armstrong-to-coinbase-employees" rel="nofollow">blog post</a> Tuesday, saying the steps were needed to weather the industry downturn. In June, Coinbase announced it would lay off 18% of its workforce, the equivalent of roughly 1,200 employees. It <a href="https://www.bloomberg.com/news/articles/2022-11-10/coinbase-coin-is-cutting-60-positions-in-latest-crypto-winter-layoff" rel="nofollow">eliminated</a> another 60 positions in November. It will now shut down several projects."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-51776660530096204352023-01-08T19:26:36.351-08:002023-01-08T19:26:36.351-08:00Amy Castor and David Gerard are out with the lates...Amy Castor and David Gerard are out with the latest on the various dominoes in <a href="https://amycastor.com/2023/01/08/crypto-collapse-dcgs-problem-is-grayscale-ftx-bahamas-agreement-defi-trading-arrest-silvergate-bank-huobi-binance/" rel="nofollow"><i>Crypto collapse: DCG’s problem is Grayscale, FTX Bahamas agreement, DeFi trading arrest, Silvergate Bank, Huobi, Binance</i></a>.David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-35292777161247005042023-01-07T12:31:46.181-08:002023-01-07T12:31:46.181-08:00I'm sure everything at Huobi is just fine. Mol...I'm sure everything at Huobi is just fine. Molly White reports that <a href="https://web3isgoinggreat.com/?id=huobi-performs-20-layoff-reportedly-requires-employees-to-take-salary-in-stablecoins" rel="nofollow"><i>Huobi performs 20% layoff, reportedly requires employees to take salary in stablecoins</i></a>:<br /><br />"The major cryptocurrency exchange Huobi confirmed they planned to lay off 20% of employees, shortly after Huobi's advisor and somewhat its public face, Justin Sun, denied any layoffs were planned.<br /><br />Crypto reporter Colin Wu has also reported that the company is requiring all employees to begin accepting their salaries in Tether or USDC stablecoins, or face dismissal. Rumors on Twitter emerged that internal communications channels had been shut down to quell dissent over the change."<br /><br />It's all just FUD.David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-9458307666604896272023-01-07T06:26:09.057-08:002023-01-07T06:26:09.057-08:00Allyson Versprille and Ava Benny-Morrison report t...Allyson Versprille and Ava Benny-Morrison report that <a href="https://www.bloomberg.com/news/articles/2023-01-07/crypto-empire-dcg-faces-us-investigation-over-internal-transfers" rel="nofollow"><i>Crypto Empire DCG Faces US Investigation Over Internal Transfers</i></a>:<br /><br />"Federal prosecutors in Brooklyn are scrutinizing transfers between Digital Currency Group Inc. and an embattled subsidiary that offers crypto lending services, said the people, who asked not to be named because the probe hasn’t been made public. They’re also delving into what investors were told about those transactions.<br />...<br />In a November letter to shareholders, Silbert disclosed that DCG received about $575 million in loans from Genesis Global Capital that are due this May. He also mentioned a $1.1 billion promissory note due in June 2032, resulting from DCG assuming liabilities Genesis had from exposure to Three Arrows."<br /><br />These loans featured in <a href="https://web3isgoinggreat.com/?id=gemini-founder-writes-open-letter-to-barry-silbert-begging-for-the-return-of-900-million" rel="nofollow">Cameron Winklevoss' letter</a> to Barry Silbert.<br /><br />Molly White reports that <a href="https://web3isgoinggreat.com/?id=genesis-lays-off-another-30-of-staff" rel="nofollow"><i>Genesis lays off another 30% of staff</i></a>:<br /><br />"After a <a href="https://web3isgoinggreat.com/?id=genesis-lays-off-20-of-employees-jettisons-ceo-after-three-arrows-capital-disaster" rel="nofollow">round of layoffs</a> in August that impacted 20% of their employees, Genesis is laying off another 30% of their employees."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-33040398075185093662023-01-06T11:18:39.610-08:002023-01-06T11:18:39.610-08:00Sidhartha Shukla and Olga Kharif report that Justi...Sidhartha Shukla and Olga Kharif report that <a href="https://www.bloomberg.com/news/articles/2023-01-06/sun-moves-100-million-of-crypto-to-support-his-exchange-huobi" rel="nofollow"><i>Justin Sun Moves $100 Million of Crypto to Support His Exchange Huobi</i></a>:<br /><br />"An Ethereum wallet associated with Sun withdrew $50 million of Tether’s USDT and $50 million of Circle Financial’s USDC from the Binance exchange on Friday, and roughly three hours later sent the tokens to Huobi, according to blockchain research firm Nansen.<br />...<br />“It just shows the confidence to Huobi exchange,” Sun said of the transfers in a Telegram message. “It’s just my personal funds.”<br /><br />The transactions came amid elevated pressure on Singapore-based Huobi, which saw about $85 million of crypto outflows over a 24-hour period according to data from Coinglass. The exchange said on Friday that it plans to fire about 20% of its workforce and will maintain a “very lean team” as a slump in crypto markets enters its second year."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-82953540430821016012023-01-06T11:02:05.309-08:002023-01-06T11:02:05.309-08:00But wait, there's more! Yueqi Yang and Hannah ...But wait, there's more! Yueqi Yang and Hannah Levitt report that <a href="https://www.bloomberg.com/news/articles/2023-01-06/crypto-panic-at-silvergate-spawns-a-new-breed-of-bank-run" rel="nofollow"><i>Crypto Panic at Silvergate Spawns a New Breed of Bank Run</i></a>:<br /><br />"Silvergate Capital Corp., a California lender that offers digital-asset ventures a place to park their cash, jolted shareholders Thursday with the revelation that it had recently survived an $8.1 billion drawdown on deposits. That’s roughly 70%, even more severe than runs seen in the Depression.<br />...<br />Silvergate’s disclosure — which included selling assets at a loss to raise cash — sent its stock tumbling, bringing its total slide to more than 90% since the end of 2021, the year Bitcoin reached a record high.<br /><br />The shares slid again on Friday, dropping as much as 14%, as analysts warned that the deposit run might not be over. The balances could be headed back toward 2020 levels, prior to the bull run in crypto prices,<br />...<br />The concern was reflected in the deeply distressed price of Silvergate’s preferred securities, which trade at about 40 cents on the dollar. Bloomberg Intelligence warned that the 5.375% interest payment may be in jeopardy.<br />...<br />Silvergate had to sell nearly half of its securities portfolio, liquidating $5.2 billion of debt securities for cash. In that rush, it incurred $718 million in losses. The firm said it anticipates more hits as it sells securities to reduce its $6.7 billion in wholesale borrowings."<br /><br />This is what the Federal Reserve, FDIC, and the Office of the Comptroller of the Currency were warning against in their <a href="https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20230103a1.pdf" rel="nofollow"><i>Joint Statement on Crypto-Asset Risks to Banking Organizations</i></a>:<br /><br />"• Significant volatility in crypto-asset markets, the effects of which include potential impacts on deposit flows associated with crypto-asset companies.<br />• Susceptibility of stablecoins to run risk, creating potential deposit outflows for banking organizations that hold stablecoin reserves"David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-36921117824330462392023-01-06T10:35:32.465-08:002023-01-06T10:35:32.465-08:00Matt Turner adds to Silvergate's misery in Cat...Matt Turner adds to Silvergate's misery in <a href="https://www.bloomberg.com/news/articles/2023-01-06/ark-fund-unloads-silvergate-stake-as-customers-flee-crypto-bank" rel="nofollow"><i>Cathie Wood Sells 99% of Silvergate Stake as Customers Flee</i></a>:<br /><br />"One of Cathie Wood’s funds sold virtually all of its shares in Silvergate Capital Corp. after the cryptocurrency-focused bank announced that it was forced to sell assets at a steep loss as customers pulled out most of their deposits during the fourth quarter.<br /><br />Her ARK Fintech Innovation exchange-traded fund unloaded roughly 404,000 shares of Silvergate on Thursday, cutting the ETF’s holdings by more than 99%, according to data compiled by Bloomberg. The fund’s remaining holdings, which amount to less than 4,000 shares, are worth about $43,000 — only about 0.01% of the fund’s total portfolio."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-66526124300859810142023-01-05T12:05:38.659-08:002023-01-05T12:05:38.659-08:00Molly White points out that the $718M loss:
"...Molly White points out that <a href="https://web3isgoinggreat.com/?id=silvergate-loss-ftx-collapse" rel="nofollow">the $718M loss</a>:<br /><br />"far exceeds the bank's total profits since at least 2013, writes the <i>Wall Street Journal</i>."<br /><br />Also:<br /><br />"Silvergate announced that they would be cutting 40% of their staff — around 200 employees. They also announced that they would be taking a $196 million impairment charge on assets they purchased from Diem — Facebook's blockchain-based payment system once known as Libra."<br /><br />So Silvergate is at least $916M in the hole.David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-56089388833542333502023-01-05T06:54:59.260-08:002023-01-05T06:54:59.260-08:00Cryptocurrency contagion continues in Steve Dickso...Cryptocurrency contagion continues in Steve Dickson's <a href="https://www.bloomberg.com/news/articles/2023-01-05/silvergate-tumbles-after-bank-posts-loss-fires-40-of-staff" rel="nofollow"><i>Silvergate Tumbles After FTX Implosion Prompts $8.1 Billion Bank Run</i></a>:<br /><br />"Silvergate Capital Corp. slumped in early trading after the bank said the crypto industry’s meltdown triggered a run on deposits, prompting the company to sell assets at a steep loss and fire 40% of its staff.<br /><br />Customers withdrew about $8.1 billion of digital-asset deposits from the La Jolla, California-based bank during the fourth quarter, which forced it to sell securities and related derivatives at a loss of $718 million, according to a statement Thursday. Executives said on a conference call that Silvergate may become a takeover target."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-58791934256529456372023-01-04T20:41:29.033-08:002023-01-04T20:41:29.033-08:00Matthew Goldstein and Emily Flitter report that Co...Matthew Goldstein and Emily Flitter report that <a href="https://www.nytimes.com/2023/01/04/business/coinbase-settlement-anti-money-laundering.html" rel="nofollow"><i>Coinbase Reaches $100 Million Settlement With New York Regulators</i></a>:<br /><br />"Coinbase, a publicly traded cryptocurrency trading exchange based in the United States, agreed to pay a $50 million fine after financial regulators found that it let customers open accounts without conducting sufficient background checks, in violation of anti-money-laundering laws.<br /><br />The settlement with the New York State Department of Financial Services, announced Wednesday, will also require Coinbase to invest $50 million to bolster its compliance program, which is supposed to prevent drug traffickers, sellers of child pornography and other potential lawbreakers from opening accounts with the exchange."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-50447028712571887892023-01-04T19:04:36.994-08:002023-01-04T19:04:36.994-08:00Luke Dashjr is a Bitcoin Core developer so presuma...Luke Dashjr is a Bitcoin Core developer so presumably another believer that "code is law". Just as <a href="http://perrywolff.info/2017/10/09/a-conservative-is-a-liberal-whos-been-mugged/" rel="nofollow">Senator Moynihan quipped</a> "A conservative is a liberal who’s been mugged” it appears that a centralizer is a decentralizer who's been "hacked". Dan Goodin reports that <a href="https://arstechnica.com/information-technology/2023/01/key-bitcoin-developer-calls-on-fbi-to-recover-3-6m-in-digital-coin/" rel="nofollow"><i>Key bitcoin developer calls on FBI to recover $3.6M in digital coin</i></a>:<br /><br />"There’s still a lot that doesn’t add up to the events Dashjr has reported. Without more details, it’s hard to come to any firm conclusions. One takeaway, however, is clear, as evidenced by one of the most influential bitcoin developers calling on law enforcement to recover his stolen digital coin: The notion that cryptocurrencies provide a decentralized platform that cuts out established authorities is nothing short of a pipe dream."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-29407249330871591202023-01-04T15:27:52.762-08:002023-01-04T15:27:52.762-08:00Another Angus Berwick and Tom Wilson story I shoul...Another Angus Berwick and Tom Wilson story I should have included is <a href="https://www.reuters.com/legal/government/how-crypto-giant-binance-became-hub-hackers-fraudsters-drug-traffickers-2022-06-07/" rel="nofollow"><i>How crypto giant Binance became a hub for hackers, fraudsters and drug traffickers</i></a>. It starts:<br /><br />"In September 2020, a North Korean hacking group known as Lazarus broke into a small Slovakian crypto exchange and stole virtual currency worth some $5.4 million. It was one of a string of cyber heists by Lazarus that Washington said were aimed at funding North Korea's nuclear weapons programme.<br /><br />Several hours later, the hackers opened at least two dozen anonymous accounts on Binance, the world's largest cryptocurrency exchange, enabling them to convert the stolen funds and obscure the money trail, correspondence between Slovakia's national police and Binance reveals."<br /><br />And:<br /><br />"Binance processed transactions totalling at least $2.35 billion stemming from hacks, investment frauds and illegal drug sales, Reuters calculated from an examination of court records, statements by law enforcement and blockchain data, compiled for the news agency by two blockchain analysis firms. Two industry experts reviewed the calculation and agreed with the estimate."<br /><br />The story keeps throwing out details like these. Go read it.David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-22153639978982972042023-01-04T15:15:53.169-08:002023-01-04T15:15:53.169-08:00Concoda's Is Binance the Next Domino to Fall? ...Concoda's <a href="https://concoda.substack.com/p/is-binance-the-next-domino-to-fall" rel="nofollow"><i>Is Binance the Next Domino to Fall?</i></a> covers many of the same points I did above. It includes some additional red flags, such as:<br /><br />"Binance might not even have a functioning balance sheet, a scenario that has grown increasingly plausible after a Reuters analysis <a href="https://www.reuters.com/article/fintech-crypto-binance-transparency-idAFL8N3392RD" rel="nofollow">revealed</a> the company’s filings were a “black box.” By far the most ominous detail was that Binance’s former chief financial officer, Wei Zhou, never obtained access to the company’s full accounts during his three-year tenure."<br /><br />And:<br /><br />"Constance Wang, the head of risk management at FTX, had previously left the investment banking world, because she <a href="https://alpaca.markets/learn/breaking-the-bias-in-fintech-trading-and-crypto/" rel="nofollow">felt</a> her previous role at Credit Suisse (an institution with an already infamous record of poor risk management) was “boring”. Meanwhile, it turned out that FTX’s chief regulatory officer, Daniel Friedberg, was the lawyer <a href="https://www.pokernews.com/news/2013/05/audio-tapes-expose-ultimate-bet-cheating-scandal-14986.htm" rel="nofollow">caught</a> on tape trying to cover up a cheating scandal at the poker site, Ultimate Bet."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-47134782706190179872022-12-29T16:30:22.490-08:002022-12-29T16:30:22.490-08:00Avraham Eisenberg believes that "code is law&...Avraham Eisenberg believes that "code is law" in DeFi. He admits to using an exploit to transfer cryptocurrency "worth" about <a href="https://web3isgoinggreat.com/?id=mango-markets-suffers-hack" rel="nofollow">$116M from Mango Markets</a> to himself. Molly White <a href="https://web3isgoinggreat.com/?id=mango-markets-exploiter-arrested-despite-claiming-all-his-actions-were-legal" rel="nofollow">quotes him thus</a>:<br /><br />he "was involved with a team that operated a highly profitable trading strategy last week. I believe all of our actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they are."<br /><br />Law enforcement doesn't think "code is law" but rather "law is law". Molly White <a href="https://web3isgoinggreat.com/?id=mango-markets-exploiter-arrested-despite-claiming-all-his-actions-were-legal" rel="nofollow">reports that the Feds</a>:<br /><br />"arrested Eisenberg in Puerto Rico on December 26. He is charged with commodities fraud and commodities manipulation."David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.com