new legal trouble for the founder of the now bankrupt cryptocurrency exchange FTX today
prosecutors unsealed four new charges against Sam bankman freed the new charges could add another 40
Years of prison time if bankman freed is convicted Sam bankman freed the FTX co-founder charged
with hundreds of illegal campaign donations he's accused of quote flooding the political
system with tens of millions of dollars of illegal contributions according to new indictments the new
12-count indictment adds four more charges related to the collapse of the cryptocurrency exchange
FTX which prosecutors say was a multi-billion dollar fraud prosecutors accuse Sam bankman
Freud of essentially stealing FTX customer money to fund his political givings and then covering
it up to help us understand what's new in the SPF investigation and the charges against SBF
thus far NBC's investigative correspondent Tom winter Tom walk us through what we've learned in
these new charge charges what do we know about these charges sure Alison so as you said it's
those four new accounts in that additional jail time that could be the most immediate concern
for Sam begman freed what we learned today in an additional 25 Pages worth of charging documents
or more specifics and more details specifically tied to the campaign donation scheme that Federal
prosecutors allege bankman freed engaged in so according to their indictment he funneled
money through straw donors that would be if I had maxed out all my donations in a given political
cycle and I wanted to continue my donations if I gave money to you Allison and then you made
those donations in your name that straw donor ship and that is against the law and so that's
what they charged here today we knew that he engaged in some of these activities in the past
according to prosecutors what's new today is how they structured it and how they put it together
according to the indictment and specifically the totals of this are starting to really come into
Focus tens of millions of dollars of donations to Republicans as well as to Democrats the most
the majority I should say two Democrats it's a case that obviously will be closely following
Beckman freed has pleaded not guilty now this next part's interesting and honestly this kind
of makes me angry this makes me frustrated to live in America because FTX Japan users are allowed a
total withdrawal of their funds users rejoice in their escape from FTX so what are our Regulators
doing to help us out as individuals say getting our money off FTX or what are our Regulators doing
in general to help cryptocurrency thrive in the United States it seems like the only thing that
Gary Gensler has done in the past few years has meet with Sam bankman freed regularly and the
only thing he's done in the past few weeks is talk about how everything except Bitcoin is a
security and this is not an official edict by him or the SEC I guess he's just getting more vocal
saying that you know everything except Bitcoin is a security it's kind of like almost just creating
a little bit of fun and the Bitcoin Maxim lists are certainly running with this it's even more
interesting that this article that Michael Saylor is quote tweeting where Gary Gensler
says everything but FTX is possibly a security the same article is very critical of Gary Gensler for
being so close with FTX so the regulator whose opinion you're really promoting and propagating
was in bed with FTX sailor you're not talking about this friendly reminder and this is from
a lawyer and bitcoiner and contributor of Bitcoin magazine so this is maybe a message to the Bitcoin
Maxis friendly reminder that gensler's opinion on what is or isn't a security are not legal
dispositive in this country judges not SCC chairs ultimately determine what the law means and how
it applies now it doesn't mean his thoughts are irrelevant they're just not dispositive which is
to say the SEC can bring enforcement actions and get settlements but those aren't legal precedents
companies individuals can choose to go to trial where the SEC would have to prove to a judge that
something was a security if that's an element of the allegation I'm going to like this I appreciate
the alpha and Bitcoin maximalists celebrating Gary gensler's ideology that everything is a security
other than Bitcoin cheering on The Regulators cheering on the regulation surprising and very
dangerous for Bitcoin positive competition in the crypto space makes Bitcoin better monopolizing
anything is dangerous to Liberty and Innovation and Innovation is good for Bitcoin case in point
I think the only reason that Bitcoin has ordinals nfts inscriptions whatever you
want to call them this year you know native in the Bitcoin blockchain is because ethereum
did it first with much success in 2021 and now Bitcoin has their own version inscriptions or
ordinals or Bitcoin nfts have led to a big spike in number of full node Runners many new lightning
users new partially signed Bitcoin transaction usage fee versus rewards are up 2.75 percent so
the craze goes in Ebbs and flows but all of this seems good for Bitcoin do you agree and
of course Gary Gensler in the SEC they always maintain that what they're doing regulating or
attempting to regulate crypto is in essence to help you to help users to help the actual
investors now Charles hoskinson just dropped a bombshell revelation about the real motive behind
the recent regulatory attacks on cryptocurrency I want you to tell me what you think of this video
and props to J chains for creating this video by the way give him a follow if you have yet to and
now let me know what you think is this the real motive behind Gary Gensler according to you
today cardano Creator Charles hoskinson recently revealed that he believes the real trigger behind
the recent regulatory attacks on crypto are not because of protecting investors but rather about
maintaining the status quo of the traditional Financial system now we all feel this the SEC
is dirty from the top down do you agree with that statement let us know down in the comments now in
other news Solana went offline again now it's back online following a second restart but the quick
take is the Solana blockchain is back working again after two attempts to fix it Engineers
are monitoring its performance I'm reminded of this video posted by a cardano bull steak with
pride every time Solana goes down let's re-watch Solana co-founder celebrate focus on getting paid
plus shortcuts rather than engineering discipline now Salon is certainly not out Solana is going to
be here cardano also here differentiating itself it doesn't go down it's very decentralized it's
telling that the Solana co-founder said this about cardano it's been colored to [ __ ] and cardano so
I'm gonna say cardano next and that is because I used to be a Haskell programmer the approach
that they're taking is so extremely like esoteric with like such a huge stick up their ass about
correctness that they'll this is why they'll never get a ship and it's almost like give okay they're
trying right they're trying to build something that is like a cathedral as an engineer that had
to ship code like you know and get paid for it um it's just that stuff doesn't work you gotta like
swallow you know like kiss a couple frogs in your design and like ship stuff and just get it done
and uh cryptocurrency is the future ladies and gentlemen now that might be hard to Envision just
like in the 80s it was hard to Envision personal computers gaining adoption in the 90s it was hard
to Envision internet gaining adoption but cut to 10 years later now people were sure of it
wouldn't it have been amazing to be in on personal computers in 1983 if you had some Vision so take
a look at this debate on The Today Show in 1983 will home computers gain adoption crypto is here
today my name is Aaron subscribe to the channel we're just getting started give the video a like
if you got value see you tomorrow home computer sales classroom computer sales seems to seem to
have peaked and now I've hit a flat period and some say they're gonna think so oh yes they've
hit a flat period what should that tell us I I really don't believe that they've hit a flight
period the the computer Market is has been and is rising at about 30 per year and nowhere has there
been a flight period it is not rising at nearly the rate it was going yes it is we disagree we're
looking at two we're looking at two different we're looking at two different sets of numbers my
question to you is is the home computer destined to become the the CB of the 80s the hula hoop of
the 80s well I'm glad you brought this analogy because like a CB it won't be very useful in its
present form which is just talking to yourself and to your computer but like I said me when it starts
talking to other computers throughout the whole country when we have several million machines
interconnected and people can talk to each other and can exchange views and can do can transact
can buy and sell and information can buy and sell informational Services labor I think it's going to
be a very interesting period where we'll have an information Marketplace a new way of life I quite
disagree yeah I think that won't work I I think that that the home computer is going to suffer
the same Fate by and large I say the whole movie camera people had the idea and still have the idea
that if that if I have a very expensive a very good home movie camera then they can make very
good movies are going to be a good movie maker first that's right the trouble is you have to have
an idea okay and people forget that similarly to write good and interesting programs on the
computer one has to have an idea ideas are hard to come by professor professor ditus thank you