Bitfinex files discovery in "Yo bro, where did our $800 million go?" action and it is every bit as interesting as you'd expect it to be. https://www.tbstat.com/wp/uploads/2019/10/Bitfinex-CFO-Giancarlo-Devasini-Declaration.pdf …
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"Institutional constraints" means, here, "We were attempting to avoid velocity checks placed by our banking partners to detect fraud and money laundering, which would have detected our fraud and money laundering."pic.twitter.com/yWQDZZiP0c
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Money at the speed of code, yadda yadda yadda, the Bitcoin economy is surprisingly blasé when several hundred million dollars is in an interstitial state for months. In a situation never before encountered by a financial institution: the check was not, in fact, in the mail.pic.twitter.com/R3dZ23KVEc
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Our money launderer may be engaged in layering, which we have extensive experience w... saw once on an episode of Breaking Bad and this unfamiliar jargon seemed surprisingly appropriate.pic.twitter.com/1d1ta06KqM
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(If you haven't seen it, the prestige television scene most likely to be mentioned in a compliance department presentation: https://www.youtube.com/watch?v=ez6xH-su2xI … )
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All banks are criminals All banks are illegitimate intermediaries that facilitate the indentured servitude of mankind All banks will die
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