February 2023 - cypherpunks - lists.cpunks.org

Ohio train derailment: Why Republicans seized on the East Palestine accident - Vox
by professor rat 23 Feb '23

23 Feb '23

Republican POTUS tweeted he was rolling back regulations in 2017 https://twitter.com/NoLieWithBTC/status/1628490355904503833 Reposts not train braking rules designed to stop explosions near communities

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New York Department Of Financial Services Issues Guidance On Virtual Currency Custodial Services - Financial Services - United States
by Gunnar Larson 23 Feb '23

23 Feb '23

In Short The Situation: Following a string of bankruptcies among virtual currency firms, the New York Department of Financial Services has issued guidance on the practices and procedures it expects from certain state-regulated entities providing virtual currency custodial services. The Result: These entities should review their current arrangements regarding customer safeguards in the context of the guidance, including how their customers' assets are segregated and whether they are treated solely as the property of their customers, as well review their due diligence and disclosure procedures with respect to customer assets under custody. Looking Ahead: The guidance is designed to clarify the relationship between a virtual currency custodian and its customers to ensure the latter are better protected in the event of bankruptcy, particularly in situations where ownership of the virtual currency is at issue. New York has long been a first mover in virtual currency, and this guidance may influence future actions at the federal level. New York Department of Financial Services Issues Guidance for Virtual Currency Custodians On January 23, 2023, the New York Department of Financial Services ("NYDFS") issued guidance to certain New York-regulated virtual currency entities on proper disclosure and custody practices. The Guidance on Custodial Structures for Customer Protection in the Event of Insolvency (the "Guidance") applies to entities that provide virtual currency custodial services as either holders of New York's BitLicense or its Limited Purpose Trust Charter. The Guidance sets forth NYDFS's expectations for virtual currency entities ("VCEs") that provide custodial services ("VCE Custodians") on standards and procedures "to better protect customers in the event of an insolvency or similar proceeding ... [by] providing a high level of customer protection with respect to asset custody under the BitLicense." Notably, the Guidance is not a statute or a regulation with the force of law. The Guidance sets forth NYDFS's expectations in four areas: Segregation of and Separate Accounting for Customer Virtual Currency: NYDFS expects that VCE Custodians will hold the virtual currency of customers in either "separate on-chain wallets and internal ledger accounts for each customer" or omnibus wallets containing only customer virtual currency held by the VCE Custodians as agents or trustees. That is, VCE Custodians should not commingle proprietary digital assets with customer assets. If a VCE Custodian holds customer virtual currency in an omnibus wallet-comingling customer assets with other customer assets only-it must uphold appropriate recordkeeping and internal audit trail procedures such that it is able to promptly and accurately identify each customer's beneficial interest. VCE Custodian's Limited Interest in and Use of Customer Virtual Currency: The Guidance restricts a VCE Custodian's interest in the assets under its control, directing VCE Custodians to "structure their custodial arrangements in a manner that preserves the customer's equitable and beneficial interest in the customer's virtual currency." Further, the Guidance advises VCE Custodians to treat all customer assets under their control as solely the property of the customers, and to avoid handling customer assets as if they were the property of the VCE Custodians. NYDFS expects that customer assets will not be used to secure or guarantee an obligation of, or extend credit to, the VCE Custodian or others. Sub-Custody Arrangements: VCE Custodians may enter into sub-custody arrangements with third parties, provided that they conduct appropriate due diligence and obtain prior approval from NYDFS. Customer Disclosure: VCE Custodians must disclose their terms of service to customers, including their procedures for segregating customer assets, what property interest customers will retain, and how the VCE Custodians can use the virtual currencies they hold. VCE Custodians must also obtain customers' acknowledgment of such terms. For VCE Custodians that offer digital asset staking and lending programs, more clarity may be needed on how these disclosure provisions interact, if at all, with NYDFS's expectation that VCE Custodians will not make extensions of credit using customer assets. Significance of the Guidance NYDFS issued the Guidance subsequent to a string of bankruptcies in the virtual currency space. Customer rights have been a central issue in these recent bankruptcies, particularly in regards to whether ownership of customer virtual currency held by a custodian lies with the customer or with the custodian (and therefore the bankruptcy estate). In such situations, one way that some VCE Custodians have attempted to protect customer rights to their assets is to include language in customer agreements permitting the parties to "opt-in" to Article 8 of the Uniform Commercial Code (the "UCC"), which, by electing to treat the VCE Custodian as a "securities intermediary" and the virtual currency as "financial assets" under the UCC, can provide a customer with greater protections in the event of bankruptcy. The Guidance, however, does not mention this option. See UCC, Article 8, Sections 8-103, 8-303. The question of how customer digital assets held by failed VCE Custodians should be treated is still playing out in bankruptcy courts, although a recent ruling in the Celsius Network bankruptcy proceedings indicates that the answer hinges on the nature of the custodial relationship. On January 4, 2023, the Bankruptcy Court for the Southern District of New York ruled that customer assets in certain Celsius accounts belonged to the bankruptcy estate, not to Celsius customers, as the customers had "entered a contract which contained unambiguous and clear language regarding transfer of title and ownership of assets" to Celsius. Celsius Network LLC, et al., Case No: 22-10964, Docket No. 1822, at 39 (Bankr. S.D.N.Y. 2023). The Guidance could help to prevent similar future situations by ensuring customers retain equitable and beneficial interest in the virtual currencies stored with VCE Custodians, and by setting an expectation of clear disclosures to customers regarding the property interest maintained by customers in digital assets stored with custodians. Three Key Takeaways NYDFS has taken notice of issues customers face when VCE Custodians file for bankruptcy and, as a result, has provided clarifying guidance to BitLicensees and New York limited purpose trust companies that provide custodial services for customer digital assets. The Guidance lays out customer protections that NYDFS expects VCE Custodians to provide, including procedures for segregation of funds, a clear custodial relationship (as opposed to a debtor-creditor relationship), properly vetted and approved sub-custody arrangements, and appropriate disclosure practices. If a VCE Custodian maintains procedures as outlined in the Guidance, customers may enjoy greater protections in the event of the custodian's insolvency. The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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The United Nations is using “big numbers and misleading statistics” to convince the world that 700 million people will be displaced in Africa by 2030 because of water scarcity, according to Danish Refugee Council Global Adviser and Senior Analyst Alexander Kjærum.
by Gunnar Larson 23 Feb '23

23 Feb '23

Water.org and the United Nations (working at UNHQ-NY) have been a big part of Bank.org's success ... https://www.devex.com/news/opinion-un-is-wrong-to-say-700-million-will-be-d… Global ViewsData and development Opinion: UN is wrong to say 700 million will be displaced by drought By Alexander Kjærum // 23 February 2023 Environment & Natural ResourcesHumanitarian AidResearchUnited NationsWMO Internally displaced people in Beletweyne, in the Hiraan region of Somalia, wait to receive food and nonfood items donated by AMISOM troops. Photo by: AMISOM “UN predicts 700 million displaced in Africa by 2030 due to water scarcity” — reads a headline from October 2022. The story behind the number tells a concerning story about the aid sector’s use of big numbers and misleading statistics to advance their agendas. In fact, the number has nothing to do with water scarcity, Africa, or a timeline of 2030. Subscribe to Newswire A comprehensive look at the day’s top global development breaking news, analysis, and opinion Subscribe The October headline was based on a recently released report by the United Nations’ World Meteorological Organization, but it had also been used over several years, including by the U.N. secretary general, several other U.N. agencies, in particular the U.N. Convention to Combat Desertification and UNICEF, and the World Bank and numerous NGOs. The number gained momentum in 2022 as it was included in a draft public version of the sixth assessment report of the Intergovernmental Panel on Climate Change, despite the fact that it was clearly stated that the draft should not be cited or quoted. The number first appeared in a UNESCO report from 2009, which states that between 24 million to 700 million could be displaced globally by water-related factors. While the referencing in the UNESCO report is not entirely clear, it appears that the source of the 700 million is a Christian Aid report from 2007. This report states that up to 1 billion could be displaced by 2050 (not 2030), which includes 645 million that would be displaced due to development projects “such as dams and mines.” Combined with an estimated 50 million displaced by natural disasters this becomes approximately 700 million. There is only very basic math behind these numbers — e.g. the 645 million displaced due to development projects is calculated by the assumption that 15 million are displaced every year, multiplied by 43 years to reach 2050. The mere fact that a flagship U.N. report cites a number from a document which clearly says it should not be cited should raise immediate red flags. — In 2012, the 24 million to 700 million range is then referenced in a UNCCD fact sheet, stating that: “With the existing climate change scenario, almost half the world’s population will be living in areas of high water stress by 2030, including between 75 million and 250 million people in Africa. In addition, water scarcity in some arid and semi-arid places will displace between 24 million and 700 million people.” This became the source for a number of future references, but in a synthesized version where nuance and meaning get lost, it becomes “high water stress is estimated to affect about 250 million people on the [African] continent and displace up to 700 million individuals by 2030.“ This should be quite obviously wrong to most people for two reasons: 1) The number of displaced people from a hazard or disaster will always be smaller than the ones who are exposed to that same hazard or disaster. Yet in this scenario of 700 million people displaced, that would represent almost three times as many as the 250 million people actually affected by water stress. 2) The 700 million figure would amount to almost half of Africa’s population in 2030. This example reveals several concerning points about the use of big numbers in the humanitarian and development sector. First, when a number range is provided, the highest number regularly ends up being the one that makes the headlines. We see this in the World Bank Groundswell report for example, where the headlines have also been that climate change could lead to 216 million migrants by 2050 without including the range of 44 million to 216 million. Second, the drive to promote big, concerning numbers seems to dilute common sense. While 700 million displaced in the distant future of 2050 might have made some sense in 2007, how can this figure be used in 2022 for a 2030 projection without looking into what the current status is? Based on calculations on data from the Internal Displacement Monitoring Center, 2.6 million people globally were displaced by drought between 2017 and 2021, so quite far from potentially accumulating to 700 million on the African continent by 2030 as per the October 2022 headline. The loss of common sense is related to the fact that people have a very hard time understanding big numbers, which research confirms. When 700 million is used and quoted without context it ends up meaning simply “many people” to a majority of readers. If the quote had used the equally erroneous wording “half of Africa’s population to be displaced by 2030,” I am sure many readers and researchers would have questioned this prediction. More reading: ► Opinion: Data we trust is a vital weapon as diseases gain ground ► What does the data say about climate development funding? (Pro) ► Opinion: Localization is key to avoid climate data misuse Third, it reveals that many humanitarian and development organizations are publishing big numbers without accurately checking their validity or credibility; presumably more intent on gaining attention and funding for their cause. It exposes the extreme big-number fetish in the sector, when what is needed instead is to promote factual, qualitative knowledge about the issues of concern. This 700 million example reveals a concerning lack of review and fact-check internally in many of the leading U.N. agencies and NGOs that continue to publish and use this number. The mere fact that a flagship U.N. report cites a number from a document which clearly says it should not be cited should raise immediate red flags. There is no good reason to always provide the biggest, worst-case scenario number in any range provided in research. By constantly focusing on the largest value in a range, or the most sensational, humanitarian and development communications risk crying wolf and losing credibility among the public, donors, and internal decision-makers. In turn, as these groups are regularly fed numbers and predictions that are very likely not to be true, they will lose faith in the evidence being provided. This poses a significant risk to advancing more evidence- and data-driven development and humanitarian action in a time when it is needed most. To retain some credibility, humanitarian and development agencies should start by focusing on promoting the most realistic scenario numbers. And these numbers should always come with a clear explanation of the methodology behind them and put them into context. Lastly, the sector should focus less on numbers and more on describing the issues qualitatively, which makes it easier for donors and decision-makers to act on it. Editor’s note: By the time of publication, WMO responded to the author’s queries and have subsequently removed the reference to 700 million displaced people in Africa due to water scarcity by 2030 from the “State of the Climate in Africa 2021” report. The views in this opinion piece do not necessarily reflect the views of the Danish Refugee Council. The views in this opinion piece do not necessarily reflect Devex's editorial views. About the author Alexander Kjærum Alexander Kjærum is a global advisor, senior analyst with the Danish Refugee Council. He is leading the work on enhancing the use of data and analysis for strategic planning, programming, and advocacy. He is also the lead on use of predictive analytics and author on the flagship Global Displacement Forecast report.

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Ohio train derailment: Why Republicans seized on the East Palestine accident - Vox
by Gunnar Larson 23 Feb '23

23 Feb '23

https://www.vox.com/politics/2023/2/23/23611697/ohio-train-derailment-east-… "Former President Donald Trump stands next to a pallet of water before delivering remarks at the East Palestine Fire Department station on February 22, 2023, in East Palestine." Water.org is one of those things ...

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Judge John Dorsey Has Effectively Privatized Justice in the FTX Bankruptcy Case
by Gunnar Larson 23 Feb '23

23 Feb '23

https://wallstreetonparade.com/2023/02/judge-john-dorsey-has-effectively-pr… By Pam Martens and Russ Martens: February 23, 2023 ~ John T. Dorsey (2016 Photo from Internet Archives' Wayback Machine) John T. Dorsey (2016 Photo from Internet Archives’ Wayback Machine) Judge John Dorsey is the presiding judge in the bankruptcy proceedings for Sam Bankman-Fried’s collapsed house of cards, which includes the now frozen crypto exchange, FTX; his now shuttered hedge fund, Alameda Research; and more than 100 opaque affiliates operating in the shadows around the globe. Undisputed is the fact that despite FTX being represented by some of the most prominent law firms in America as it built this criminal enterprise – notably Sullivan & Cromwell – more than 10.3 million user accounts were looted of more than $8 billion right under the nose of Big Law. We say “notably Sullivan & Cromwell” in the above paragraph because not only did it work on more than 20 matters for the FTX group of companies for 16 months prior to its bankruptcy filing but its former law partner, Ryne Miller, served as General Counsel of FTX US since August of 2021. In addition, Sullivan & Cromwell has conceded that it personally represented Sam Bankman-Fried on his purchase of more than half a billion dollars of stock in Robinhood Markets (a stock trading app) – the rightful ownership of which is now the subject of multiple court battles. Equally problematic, an email by Sullivan & Cromwell law partner, Andrew Dietderich, has surfaced in a court filing indicating that just four days before FTX filed bankruptcy, Dietderich had told another law firm that FTX is “rock solid.” (Dietderich is now one of the key law partners involved in the FTX bankruptcy proceedings.) Given this set of facts, justice for the defrauded customers and the public interest would obviously demand that the pre-bankruptcy legal interactions between Sullivan & Cromwell, the FTX group of companies and Sam Bankman-Fried (as well as all other questionable activities by others) be investigated by an independent examiner, as is required under bankruptcy law when requested by the U.S. Trustee and debts exceed $5 million. Instead, Judge Dorsey ruled against the U.S. Trustee’s request for an independent examiner in the FTX bankruptcy proceeding and has signed an order making Sullivan & Cromwell the lead counsel overseeing the FTX bankruptcy case. By doing this, Judge Dorsey has effectively privatized justice while sitting on the bench of a federal court. Sullivan & Cromwell is a 144-year old Big Law firm with more than 900 attorneys. Its headquarters is located in the financial district in lower Manhattan on Broad Street. It filed the FTX bankruptcy case, not in U.S. Bankruptcy Court in lower Manhattan, but in U.S. Bankruptcy Court in Wilmington, Delaware – a two-hour drive for its law partners, some of whom are billing as much as $2,165 an hour in the FTX bankruptcy matter. (For 19 days in November and 31 days in December, Sullivan & Cromwell has thus far billed $20 million in legal fees and more than $239,000 in expenses. Part of those expenses include more than $20,000 for “Conference Room Dining” and “Meals – Overtime.”) Judges in U.S. Bankrupty Court in Delaware, including Judge Dorsey, have previously ruled on multiple occasions against the appointment of an independent examiner when requested by the U.S. Trustee. This might explain the two hour drive to Wilmington, Delaware by Sullivan & Cromwell’s high-priced attorneys. As Sullivan & Cromwell’s partners are billing and eating their way through what’s left of defrauded crypto customers’ money, Judge Dorsey had the audacity to make the argument in turning down the U.S. Trustee’s request for an independent examiner, that it would cost too much money. The U.S. Trustee program is part of the U.S. Department of Justice, a federal agency. Its statutory mandate is “to promote the integrity and efficiency of the bankruptcy system for the benefit of all stakeholders — debtors, creditors, and the public.” The public’s vested interest in this matter could not be greater. The federal prosecutor who has thus far indicted Sam Bankman-Fried and two of his alleged co-conspirators (Caroline Ellison and Gary Wang), has called FTX “one of the biggest financial frauds in American history.” The entire life savings of some customers is gone with the allegation that their customer accounts were used as Bankman-Fried’s personal piggy bank to buy luxury real estate in the Bahamas; buy celebrity endorsements; slap his company’s name on sports stadiums; and funnel tens of millions of dollars to political campaigns. (And let’s not forget the millions of dollars in legal fees that went to Big Law firms – pre-bankruptcy – to keep this house of cards propped up. In addition to Sullivan & Cromwell, Forbes reported that the following U.S. law firms had worked for FTX prior to its bankruptcy filing: Fenwick & West; Gibson, Dunn & Crutcher; Hogan Lovells; Morrison Foerster; Paul Hastings; Perkins Coie; Quinn Emanuel Urquhart & Sullivan; Skadden, Arps, Slate, Meagher & Flom; and White & Case.) Adding to the logical premise that the public is heavily vested in a transparent and independent investigation of FTX and its enablers – and what is transpiring in these bankruptcy proceedings – a total of 18 state attorneys general and/or state securities regulators filed statements with Judge Dorsey’s court endorsing the U.S. Trustee’s request for an independent examiner. But in another show of how Judge Dorsey has privatized these proceedings, he ignored the wishes of 18 states representing more than a third of the population of the United States. We have made multiple requests to the offices of the U.S. Trustee, asking if the U.S. Trustee is planning to appeal the denial of its request to appoint an independent examiner. Thus far, no information on this topic has been provided to us.

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Manuel González Prada Anarchist Social Center inaugurated
by professor rat 23 Feb '23

23 Feb '23

The Manuel González Prada Anarchist Social Center was inaugurated and opened on September 17, 2022. It's purpose is to structure and give life to a place of these characteristics since it is a large space with several rooms, where there will mainly be the Library "Emilio López" Newspaper Library, Video Library, and Historical Archive of anarchism in the Peruvian region. https://anarchistnews.org/content/call-help-manuel-gonzalez-prada-social-ce… Reposts for anarchists not LOL-GOP, Qanon garbage from Gramps

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Watching Adam Back trying to pose as cryptoanarchist
by professor rat 23 Feb '23

23 Feb '23

This reminds me of when Colon Bowel went to Seth Efrika and tried to pass for black. Adam Back's lies precede him and his grave lies open in front of him. https://stiffs.com/celebrity/julianassange Dead men walking

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Rep Tom Emmer needs killing ( My 2k sats )
by professor rat 23 Feb '23

23 Feb '23

After approving passage of the Patriot Act he ran for US political office so earning immediate execution https://en.wikipedia.org/wiki/Tom_Emmer Marc responded, “indeed, free and open source software seems non-negotiable here: no backdoors, no skeleton key. National security establishment would balk at this though?” Rohan responds, “yes, fuck them. I don’t think we should be taking policy advice about how to design our money for the people who think the Patriot Act was a good thing …" https://www.coindesk.com/podcasts/coindesk-podcast-network/us-digital-dolla… Match me, Sydney

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Fwd: Your Freedom of Information Law (FOIL) Request FOIL-2023-093329-019093 - Coinbase $100M Settlement Investigation Records
by Gunnar Larson 22 Feb '23

22 Feb '23

SENT VIA EMAIL G(a)xny.io February 22, 2023 Gunnar Larson xNY.io – Bank.org 406 West 25th Street New York, NY 10001 Re: FOIL Tracking No. 2023-093329 Dear Gunnar Larson: I write with respect to your above-referenced FOIL request. The New York State Department of Financial Services (DFS) requires additional time to respond to your request, assigned the tracking number 2023-093329, because the potentially responsive records require specialized review. DFS intends to provide its determination of your request by March 24, 2023. We appreciate your continued patience. Thank you ---------- Forwarded message --------- From: <Joanne.Verdejo(a)dfs.ny.gov> Date: Wed, Feb 22, 2023, 11:13 AM Subject: Your Freedom of Information Law (FOIL) Request FOIL-2023-093329-019093 To: <G(a)xny.io> Good morning, Attached please find correspondence from the NYS Department of Financial Services, pertaining to your FOIL request. Thank you. Tracking Number:FOIL-2023-093329-019093 ---------- Forwarded message --------- From: <noreply(a)its.ny.gov> Date: Sat, Jan 14, 2023, 3:26 PM Subject: FOIL Request Confirmation from Open FOIL NY To: <G(a)xny.io> Thank you for submitting your FOIL request through Open FOIL NY. Here is your Open FOIL NY confirmation information for future reference: LARSON_DFS_20230114152649702 LARSON_DOB_20230114152649702 LARSON_DTF_20230114152649702 INFORMATION SUBMITTED: Records Requested From Department of Financial Services Division of the Budget Department of Taxation and Finance Short Title Coinbase $100M Settlement Investigation Records Description Dear Madam or Sir: xNY.io - Bank.org kindly seeks access to any and all records concerning New York State's investigation of Coinbase, comprising the $100M settlement mentioned here: https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202301041. We are requesting all public records from 2018 to 2022 concerning New York's aforementioned Coinbase investigation. Moreover, xNY.io - Bank.org seeks access to any and all records concerning New York's regulatory scrutiny (and/or approval) of Goldman Sachs' partnership with Coinbase, issuing the bank's first Bitcoin loan mentioned here: https://www.nasdaq.com/articles/goldman-sachs-partners-with-coinbase-for-ba…. In addition, xNY.io - Bank.org seeks any and all records concerning New York's approach to Coinbase and Goldman Sachs compliance programs mandated by the United States Department of Justice, Criminal Division, Fraud Section and Money Laundering and Asset Recovery Section mentioned here: https://drive.google.com/file/d/1Yx88RMoeLyyfbNK0RtPl4r-m8N21_1Sp/view?usp=…. Finally, xNY.io - Bank.org seeks records concerning New York's regulatory approval of Coinbase engaging a fine of $50M to implement heightened controls and additional procedures and policies relating to electronic surveillance and investigation, due diligence on transactions or clients and the use of third-party intermediaries across business units; and enhancing anti-corruption training for all management and relevant employees. Warm regards, Gunnar Larson Gunnar Larson xNY.io - Bank.org 646-454-9107 Uploaded Files FOIL Response Format Email If fees apply, please contact me if costs will be greater than $10000 Your FOIL request has been forwarded to the organization(s) you selected, and the respective Records Access Officer will contact you directly for further processing of your request. Please allow up to five business days for such communication(s). For your convenience, here is additional contact information: Department of Financial Services One State Street 20th Floor New York, NY 10004

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Re: FOIL # 2022-090627 Appeal
by Gunnar Larson 22 Feb '23

22 Feb '23

Ms. Tomczak: Thank you for the clarification. Wishing you all the best. Warm regards, Gunnar Gunnar Larson xNY.io - Bank.org 646-454-9107 On Wed, Feb 22, 2023, 11:01 AM Tomczak, Christine (DFS) < christine.tomczak(a)dfs.ny.gov> wrote: > Dear Mr. Larson, > > > > The NYDFS is the regulator of Goldman Sachs Bank, not Goldman Sachs > Investment Company that has established the One Million Black Women > program. The DFS generally does not possess records pertaining to > investments made by Goldman Sachs Investment Company unless there was some > involvement by Goldman Sachs Bank which in this case, there was not. > Therefore, the DFS does not possess any records concerning the One Million > Black Women program. The DFS may only speak about records in the DFS’s > possession and not any other NYS agency. > > > > Sincerely, > > > > > > Christine M. Tomczak > > Assistant Counsel > > > > New York State Department of Financial Services > > 1 State Street, New York, New York 10004 > > > > > > > > > > > > > > > > *From:* Gunnar Larson <g(a)xny.io> > *Sent:* Wednesday, February 22, 2023 9:47 AM > *To:* Tomczak, Christine (DFS) <christine.tomczak(a)dfs.ny.gov> > *Cc:* cypherpunks <cypherpunks(a)lists.cpunks.org> > *Subject:* Re: FOIL # 2022-090627 Appeal > > > > *ATTENTION: This email came from an external source. Do not open > attachments or click on links from unknown senders or unexpected emails.* > > > > Ms. Tomczak: > > > > We have not heard from NY-DFS on the matter of One Million Black Women > below. > > > > Would you be so kind to respond today? > > > > We are working up against a deadline as Black History Month ends next > Tuesday. > > > > Warm regards, > > > > Gunnar > > > > Gunnar Larson > > xNY.io - Bank.org > > 646-454-9107 > > > > On Tue, Jan 31, 2023, 7:51 PM Gunnar Larson <g(a)xny.io> wrote: > > Dear Ms. Tomczak: > > > > Thank you for your email. > > > > Concerning the statement, "Nevertheless, I conducted a de novo search of > the Department’s records and found that the Department does not possess any > records regarding the Goldman Sachs’s investment in the One Million Black > Women project." > > > > However, the New York City Small Business Opportunity Fund lists Goldman > Sachs and One Million Black Women as a funding sponsor: > https://sbsopportunityfund.nyc/ > <https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fsbsopport…> > . > > > > The $75M fund is the largest in New York City's history. The website > states, "The Fund was created specifically for NYC small business owners, > developed and administered by local partners – including the NYC Department > of Small Business Services (SBS), Goldman Sachs’ One Million Black Women, > Mastercard Center for Inclusive Growth, local Community Development > Financial Institutions (CDFIs – non-profit community-based financial > institutions), and local small business centers that understand your > community and customers." > > > > How would New York City know of One Million Black Women but New York State > would have no records associated? > > > > Warm regards, > > > > Gunnar > > > > Gunnar Larson > > xNY.io - Bank.org > > 646-454-9107 > > On Mon, Jan 30, 2023, 3:28 PM Tomczak, Christine (DFS) < > christine.tomczak(a)dfs.ny.gov> wrote: > > Dear Mr. Larson, > > > > See attached letter. > > > > > > Christine M. Tomczak > > Assistant Counsel > > > > New York State Department of Financial Services > > 1 State Street, New York, New York 10004 > > > > > >

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