Insider Trading NFTs While Working at OpenSea is Stupid (and Illegal) - Episode 80

[@SaSPonchICo]

"Technical difficulties" *Bennett's zooming face* This is amazing.

[@smc4229]

I love the point Cas made in the middle of this episode about the disparity in sentencing and punishment, where the severity of punishment is inversely proportional to their power, prestige, and resources. Preach on brother

[@qwerty_artist]

That mosquito is basically the crypto scamverse 'Why!? (Stomp) Are you still!? (Stomp) Alive!?(Stomp)'

[@shaanthacikyan3958]

I thought the same thing an hour after listening. Precisely!

[@riodweber]

That was a great intro! Congrats on being amazing, keep up the good work guys!

[@volvo09]

Hahahaha! That intro could have been me! Stupid tech not working when you need it...

[@chompers5568]

"why is nothing working, why is nothing working" I think everyone in crypto is saying the same thing right now.

[@unclvinny]

Given how fast the crypto world changes, could you open each episode by saying which day you’re recording it? In the CEL interview the other day I was surprised to hear midway through that you recorded it a week earlier, given the celsius news of the release day. Thanks! Love you guys.

[@victorsanchez733]

Dont be so surprised by these guys!

[@luckyygrrl]

from a foreigner's perspective this is really interesting. in my country, the fundamental purpose of regulators is not to regulate, but rather to give the broader corrupt system the appearance of legitimacy. it is theatrical in nature, you do not need to be legitimate but you must perform legitimacy. the US government has been an instrument of capital for decades but it seems the domestic facade may be starting to slip. fascinating to watch you grapple with this, perhaps my perspective can help.

[@gjergjik]

Thanks guys here's a tip!

[@CryptoCriticPod]

Thank you!

[@RWSCOTT]

@ 15:00 - re: what Cas said about Maddof- it's like.. ironically, the financial system (much like a scam) is literally built on confidence & belief in the system as reality, but because that in itself is such an delicate (and frankly arcane) thing, it's never talked about. So, there's an epic level of denial within the system anytime you go there, because the system was never designed for that kind of input, query, scrutiny, etc. Which, given the nature of greed is a hell of a thing. O_o

[@joejohn404]

Bennett's smile is so cute..😍 As always, great content folks. Keep up the good work.👍

[@SteveF60]

The SEC only has CIVIL jurisdiction, not criminal. The most they can do is levy fines and ban people from the industry (usually only temporarily). For criminal charges the DOJ(FBI) has to get involved. Small-timers get the book thrown at them to act as a deterrent for others. Billionaires aren't pursued often because those folks can afford a team of lawyers larger than the entire legal staff of the SEC (which was about 350 when I was around). The DOJ fears that team because they're very protective of their 94% or whatever conviction rate and securities fraud is incredibly hard to prove even if the jury is sophisticated enough to understand what they're being told. Big fish only get charged when it's plain as day open-and-shut and even then they'll hesitate (see: Bernie Madoff). I was involved and eventually had to walk away. They just don't care. I remember being floored when I learned how few attorneys worked at the SEC when there are thousands of publicly-traded companies each filing hundred(s)-page quarterly/annual statements. Just isn't possible to review even a tiny fraction. Many of them that I met only worked there a couple years to learn the best ways to cheat and beat so they could go into private practice to make the BIG bucks working for the frauds.

[@jawber898]

100%... no faith in the SEC. crypto tweeters do a better job LOL

[@virior]

About the way the judiciary system works, i may be talking to the wrong crowd but it is not dysfunctional, it is functioning the way it is set up to: to protect Capital, not people

[@JohnSmith-pn1vv]

Cas is fired up.. again! 🔥 🔥

[@CryptoCriticPod]

Certainly not the easiest target

[@Acceber92s]

Just a thought, but maybe they are trying to roll Chastain up on someone bigger. Idk if he has any dirt on anyone but if he sure has an incentive to talk.

[@MigoMigo23]

That "obviously were gonna mint more for ourselves" got me like HUH. You got me.

[@ragnarosthefirelord8662]

Y'all are excellent, keep up the good work. I'd baghold some ugly jpegs for you :) ETA: I appreciate that Cas emphasizes how current regulators are pushing incentives not to do good things, but to do whatever you want as long as you don't get caught.

[@shaanthacikyan3958]

Clip the intro! Rather endearing.

[@gjergjik]

Ok Angry Cas is super entertaining.

[@JohnSmith-pn1vv]

Do Kwon creates a second Luna a week after rug pulling and this jpeg dealer has the book thrown at him 😄

[@jawber898]

it's funny right? small fries get punished because it's easier for the gov who is too incompetent to fight someone who can afford a real lawyer.

[@volvo09]

He's not in the US. Harder to reach.

[@robertogreen]

mosquitos on the blockchain

[@CryptoCriticPod]

Sounds like a billion dollar ICO

[@geocreative]

Listened to the podcast and now watching this-I want you guys to get more reach, dammit!

[@CryptoCriticPod]

Thank you!

[@shaanthacikyan3958]

Oh they will, it’s just getting started.

[@victorsanchez733]

Great episode as always, that side camera looks very good Bennet. Btw can you ellaborate on that story of the guy that got nailed for losing 195k insider trading? Sounds like an interesting story

[@SkipperMarch]

Um.... best intro ever.

[@bryansiepert9222]

"The Chickenshit Club" by Jesse Eisinger is an excellent book about this type of chicanery in how the Justice Department approaches prosecutions, or more likely deferred prosecution agreements. when going after financial crimes. Among other cases they go into the Enron/Aurthur Andersen investigation

[@srfpunk8207]

How old is this news?

[@victorsanchez733]

What Nate did and that he resigned may be a bit of old news, the update on the actual charges and most importantly the fallout in the community (specially twitter) and the realization from cryptobros that they may too be prosecuted indeed for their shady business is fresh news enough

[@dmanm85]

There's not nearly enough red Auralex on those walls..

[@OmniscientIgnorance]

Algo comment.

[@CryptoCriticPod]

Thank you!

[@SaSPonchICo]

Pumping the comment to send this podcast TO THE MOOOON!

[@CryptoCriticPod]

It’s not a Ponzi scheme; it’s market based arbitrage of postal reply coupons!

[@willow2595]

Sounds like a typical crypto project

[@shauncreed1315]

shut up and take my money

[@shanicepowell6212]

Yes it look scary

[@colbyapple]

Cas- u r silly!

[@dalgray]

If i create a dozen grifter bots to impersonate you and annoy your commenter, could i get a dozen critically acclaimed double chocolate mint NFTs? 🍪 I promise not to front run them 😇 🏃

[@smc4229]

Strong open

[@EricBishard]

Funny thing, could have just done it once or twice and never got caught, but like all people when it comes to easy money, they get greedy. 😆

[@CryptoCriticPod]

It was especially jarring because he tumbled them back to the wallet with his punk!

[@SiriusV23]

I got my nft hack and eth hacked due to Opensea screw ups.

[@LiamPorterFilms]

With respect, the cold open was a little weird and I didn’t get what was so funny… technical difficulties can be just cut out, I think.

[@gonzalotoscano3310]

Not minting NFTs in 2022? You Boomers NFT is the future!!! You may get my like tho :p