Why Isn't SBF In Handcuffs Yet?

Excellent question that deserves an answer: why isn't Sam Bankman-Fried already in custody?

Remember when George W was in office and the media seemed to be crowing about some member of the Bush White House soon being "frog-marched" into jail on a regular basis? (None ever were.) Now we have someone in SBF who truly deserves being frog-marched into jail and there's silence? The skeptic in me thinks that if SBF is led away in handcuffs then those who received money from him and FXT will feel pressure to return those funds. 

Linky Links

Stuff I found interesting and thought I'd share.

- The FBI has become a clown show

- The Babylon Bee Explains the FXT scandal (HT Liberty Man)

- The reason Alex Jones has not been back on the Joe Rogan Experience

 - Sanderson's Laws of Magic. Interesting stuff for Sci-Fi fans.

Crypto and the Dollar Are Partners, Not Rivals

Niall Ferguson with a semi-prophetic article on crypto from this past May. He even called out SBF and FXT's business model, "Never mind the Wild West; this is the Wacko West."

Long read but worth the time.

Posted by Elon Musk on Twitter

Analysis true! If Elon can joke about this I'm guessing he didn't have any money in FXT.

Chaos in Crypto

 

"Many Bitcoin miners are now turning their rigs off. Bitcoin's electrical cost has just been breeched for the 2nd time in only 5 years. The electrical bill for the average miner is now greater than the income earnt." - Charles Edwards

But the bigger story is the FXT saga (along with the Biance angle). If you don't know the players here count yourself lucky (although you may recall FXT's Super Bowl ad). And don't worry looks like Michael Lewis will be writing a book on FXT. He may have more of a thriller on his hands than he ever imagined,

Some are calling this Crypto's Black Friday (even though it was a Wednesday).