There would be a “chargeable fraud case” if spot assets weren’t backed 1:1 as promised, or were used as collateral for loans or other purposes, Renato Mariotti, a former federal prosecutor, told CNBC. Bankman-Fried has said previously that “dollars” on the exchange were “generally fungible” and now, too, did he admit client funds were too, at least in the final hours.
We Must Protect Crypto-AI From Financial Nihilism
Financial nihilism is a common philosophy in Web3 but, ultimately, there’s no way to build long-lasting value without finding real...