Kolek planning to go pro
I wasn't specifically talking about BTC (nor did I imply that I was). And yes - just like someone can mug you and take your actual wallet, it is insecure. However, unlike the insecurity of your credit cards (with fraud protection)- it's really hard to claim theft or get your money back.
I'm not a lawyer but isn't this wire fraud? Using customer funds without consent to fund something else? Prison time on the horizon eh?
If they can figure out your credentials and pass your 2FA I guess?
Hence why they took hundreds of millions out in the last few weeks and are trying to get to Dubai.
I'd rather spend significant time in jail than the rest of my life in Dubai.
If you feel that way, I guess.
Right - it's not really more OR less secure than any other financial instrument. However, it is less insured than actual cash / banks / credit cards. Also, I would argue it (cryptocurrency) should never be considered an "investment" - but I think we differ on that - and that's ok. Just be aware the "investment" risk is that it has no underlying value at this point beyond the technology - and that's not calling BTC to zero, just saying...
I realize there isn't necessarily a direct correlation between the two, but with the Dow up 700+ points today, and $DIS down almost 1%, there's no way the $DIS board renews Chapek's contract early next year, right? I'm trying to avoid any political talk around $DIS here, but the stock has been curbstomped since Iger left. If their board is serious about Chapek being re-upped, negotiations would have to start soon (his contract is up in Feb). I don't own $DIS currently, but I think the next month may present a buy opportunity if you can get out in front of Chapek leaving and an Iger return. I 100% believe Iger would love to be the white knight to the rescue.
Yup.
Mallers is a bit aspirational and dreamy about Bitcoin
So this FTX ponzi dirtbag/fraudster who should be in prison for a very long time is apparently speaking and participating from his Bahamas home for the. NYT's "Deal Book Summitt" on Wednesday? Uhhh.....WTF?
Terry Duffy (CME CEO) testified before Congress a while back that this guy was a fraud and a cheat. Democrats on the committee pushed back hard in his defense. Not surprising, as he was their largest or second largest donor.
Mr. Bankman-Fried personally gave $40 million to politicians and political-action committees ahead of the 2022 midterm elections, mostly to Democrats and liberal-leaning groups, according to the Center for Responsive Politics, a nonpartisan group that tracks campaign donations. Ryan Salame, another top FTX executive, donated more than $23 million, mainly to Republicans and conservative groups.
Did he really testify in front of congress and attest to this statement?
Here is the actual Congressional sessionhttps://www.youtube.com/watch?v=9yBuGeL7zboLenny got his hot take directly from Tuckemshttps://www.youtube.com/watch?v=EoDL_VFUe68The morph into Chicos continues
Lenny is mixing multiple statements. Duffy went after FTX and their structure/procedure/capital requirements in front of Congress and got berated. Ro Khanna in particular was really after him (which makes sense given he's basically Silicon Valley's congressman). Duffy said last week that he spotted/called out SBF as a fraud at a conference around the same time period, not that he said that in front of Congress.
FWIW, I am very concerned over the Covid lockdowns and protests in China and how it is going to once again cause supply chain issues. My fear is that China uses the protests as an excuse to invade Taiwan and take the spotlight off the protests. I think this is the start of the next downturn in the market and it will break the 2022 lows. Hope I am wrong.
I see what you're trying to do, but Duffy said that stuff on a CNBC podcast then doubled down on Fast Money...