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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.
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.
“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.
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.
We are living inside the middle chapters of a Michael Lewis book.
