The Billion Dollar Whale levels of audacity in fraud that Crypto Capital Corp got up to (including funding a football league with money almost certainly misappropriated from investors) should be a reminder that selecting partners for expertise in money laundering is a bit risky.
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Need to get my Kindle out later today to find the book about financial frauds for a citation, but there are so often layers and layers discovered here, and we’re somewhere between The Money Is Gone and The Money Was Never Actually There stages.
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“What do you mean the money was never there?” I mean that the cryptocurrency economy was in, and probably still is in, a credit bubble propped up by fraud. Everyone in it believes they are richer than they are, as they will find when they attempt to find the exits.
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Replying to @patio11
So, if you wanted to bet against it, how would you? Can I buy some PUT options? When everything comes crashing down will I be able to exercise them?
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I have spent far, far too long thinking about this question, and don't at present have a good answer to it. There are futures one could short. Apparently there were some blockchain stocks with options chains during the last bubble which aaaaargh I try not to have regrets but...
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