Weekend reading from foobar: Conserving Crypto Culture Why culture is upstream of law, and how to to maintain it
Source: https://0xfoobar.substack.com/p/conserving-crypto-culture
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New Rule: American Kleptocracy 'We could say they spend like drunken sailors, but that would be unfair to drunken sailors, because the sailors are spending their own money'
Source: https://www.youtube.com/watch?v=LhhoQbzupug
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DTC Risk Management Alert! Changes to DTC Collateral Haircuts beginning May 2, 2022, for Settlement Date May 3, 2021! DTCโs risk management controls, DTC applies a 100% haircut and assigns no collateral value to any current or future Lender
DTC Risk Management Alert! Changes to DTC Collateral Haircuts beginning May 2, 2022, for Settlement Date May 3, 2021! DTCโs risk management controls, DTC applies a 100% haircut and assigns no collateral value to any current or future Lender FIS held as Net Additions in a Participant account.
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"But the HOUSE OF CARDS could only be sustained if that cycle of deceptive trading, lies and buying power continued uninterrupted, and once Archegosโs buying power was exhausted and stock prices fell, the entire structure collapsed..." - Gurbir S. Grewal,
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SEC Alert! SEC Charges Archegos and its Founder with Massive Market Manipulation Scheme Multiple Archegos Executives Charged with Misleading Counterparties
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The Securities and Exchange Commission today charged Sung Kook (Bill) Hwang, the owner of family office Archegos Capital Management, LP (Archegos), with orchestrating a fraudulent scheme that resulted in billions of dollars in losses. The SEC also charged Archegosโs Chief Financial Officer, Patrick Halligan; head trader, William Tomita;
"We allege that Hwang and Archegos propped up a $36 billion HOUSE OF CARDS by engaging in a constant cycle of manipulative trading, lying to banks to obtain additional capacity, and then using that capacity to engage in still more manipulative trading,"
"We allege that Hwang and Archegos propped up a $36 billion house of cards by engaging in a constant cycle of manipulative trading, lying to banks to obtain additional capacity, and then using that capacity to engage in still more manipulative trading," said Gurbir S. Grewal, Director of
SEC Alert! Inspector General Carl W. Hoecker to Retire from SEC. Rebecca Sharek Named Acting Inspector General
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The Securities and Exchange Commission today announced that Inspector General Carl W. Hoecker will retire from the agency as of May 7, 2022. He has led the Office of Inspector General (OIG) since Feb. 11, 2013. Rebecca Sharek, Deputy Inspector General for Audits, Evaluations, and Special Projects, will serve