{"id":183940,"date":"2023-10-31T01:21:20","date_gmt":"2023-10-30T19:51:20","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=183940"},"modified":"2023-10-31T01:21:20","modified_gmt":"2023-10-30T19:51:20","slug":"fuck-regulators-said-sbf-behind-closed-doors-report-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/fuck-regulators-said-sbf-behind-closed-doors-report-crypto-news\/","title":{"rendered":"\u2018Fuck regulators,\u2019 said SBF behind closed doors: Report – Crypto News"},"content":{"rendered":"
\n

Despite publicly supporting drafting crypto regulation to protect customers, disgraced crypto exchange FTX founder Sam \u201cSBF\u201d Bankman-Fried appears to have shared a deep disdain for regulators.<\/p>\n

During SBF\u2019s ongoing\u00a0criminal trial, Assistant U.S. Prosecutor Danielle Sassoon inquired<\/a> if the crypto executive could recall his previous Twitter statements regarding his support of blockchain regulation to protect customers. \u201cI don\u2019t remember,\u201d SBF said. Sassoon asked, \u201cBut in private, you said, fuck regulators, right?\u201d<\/p>\n

\u201cI said that once,\u201d SBF replied. Among other profanities, the former crypto executive also stated that he viewed a \u201csubset of people\u201d on Crypto Twitter as \u201cdumb motherfuckers.\u201d Before his arrest, SBF testified in a 2021 hearing before the U.S. House Financial Services Committee on crypto regulation.\u00a0<\/p>\n

\u201cYou said it [regulations] was P.R. [public relations]?\u201d asked Sassoon. SBF responded, \u201cI said something like that.\u201d<\/p>\n

During additional questioning, SBF also claimed that the benefits of helping draft crypto regulation included assisting in FTX taking market share from competitor exchange Binance. Before FTX\u2019s collapse last November, SBF revealed that the exchange, along with sister hedge fund Alameda Research, held close to $15 billion in customers\u2019 deposits, with $10 billion reported missing.<\/p>\n

On Nov. 8, 2022, Binance founder Changpeng Zhao signed a letter of intent to acquire FTX. The deal fell apart just a day later after Binance reportedly viewed FTX\u2019s books and discovered the asset discrepancy. SBF recalled that on Nov. 7, 2022, customer net withdrawals amounted to $4 billion, or 100 times the volume of an average trading day, sending the company into a deep liquidity crisis.<\/p>\n

\n

OK – now SBF trial with Sam Bankman-Fried still on direct, this afternoon the cross. Inner City Press is on it https:\/\/t.co\/lPLqNVJIBf<\/a> &https:\/\/t.co\/mdnD76vUQ7<\/a> Exhibits https:\/\/t.co\/VGsnx6gqxd<\/a> book https:\/\/t.co\/1w2tkmrTvA<\/a> and will live tweet, thread below pic.twitter.com\/HmDmEG3fL8<\/a><\/p>\n

\u2014 Inner City Press (@innercitypress) October 30, 2023<\/a><\/p><\/blockquote>\n

\u00a0The criminal trial of Bankman-Fried is ongoing and is expected to wrap up by early next week.\u00a0<\/p>\n

Magazine:\u00a0Bitmain\u2019s revenge, Hong Kong\u2019s crypto rollercoaster<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Despite publicly supporting drafting crypto regulation to protect customers, disgraced crypto exchange FTX founder Sam \u201cSBF\u201d Bankman-Fried appears to have shared a deep disdain for regulators. During SBF\u2019s ongoing\u00a0criminal trial, Assistant U.S. Prosecutor Danielle Sassoon inquired if the crypto executive could recall his previous Twitter statements regarding his support of blockchain regulation to protect customers. […]<\/p>\n","protected":false},"author":2,"featured_media":183941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-183940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=183940"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183940\/revisions"}],"predecessor-version":[{"id":183943,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183940\/revisions\/183943"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/183941"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=183940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=183940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=183940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}