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SBF's "carelessness" fraud defense, after misrepresenting risk management and funneling customer money to Alameda, is a confession the SEC sees straight through (Matt Levine/Bloomberg)

Photo of Grace Will Grace Will December 14, 2022
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SBF's "carelessness" fraud defense, after misrepresenting risk management and funneling customer money to Alameda, is a confession the SEC sees straight through (Matt Levine/Bloomberg)
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Matt Levine / Bloomberg:

SBF’s “carelessness” fraud defense, after misrepresenting risk management and funneling customer money to Alameda, is a confession the SEC sees straight through  —  Oh Sam  —  I.  —  Here is how you run a futures exchange:  — You offer some bets on some propositions, say, whether Bitcoin will go up or down.



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