October 2024 - cypherpunks - lists.cpunks.org

Consultant Ducks Prison For Helping OneCoin Launder $35M
by Gunnar Larson 21 Oct '24

21 Oct '24

Consultant Ducks Prison For Helping OneCoin Launder $35M <https://www.law360.co.uk/financial-services-uk/articles/1891626?nl_pk=a94fc…> By Stewart Bishop A New York federal judge declined on Friday to sentence a co-founder of business consultancy and investment firm InterAmerican Group to any time in prison for his role in a scheme to launder about $35 million in proceeds from the multibillion-dollar OneCoin cryptocurrency scam. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1891626?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1891626?nl_pk=a94fc…>

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McAfee Founder’s Neighbor Dead in Belize After Dogs Poisoned
by Gunnar Larson 21 Oct '24

21 Oct '24

McAfee Founder’s Neighbor Dead in Belize After Dogs Poisoned McAfee Founder’s Neighbor Dead in Belize After Dogs Poisoned https://www.bloomberg.com/news/articles/2012-11-12/mcafee-founder-is-suspec… John McAfee, the founder of the popular anti-virus software maker, is considered “a person of interest” in the murder of U.S. citizen Gregory Faull and has yet to be located, Belize National Security Ministry spokesman Raphael Martinez said.

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Strange Cellmates in a Brooklyn Jail: Sean ‘Diddy’ Combs and Sam Bankman-Fried - The New York Times
by Gunnar Larson 21 Oct '24

21 Oct '24

Rumor has it, Sam has a new Metropolitan arrangement Peter? Gunnar --- https://www.nytimes.com/2024/09/24/arts/music/sean-combs-sam-bankman-fried-… Strange Cellmates in a Brooklyn Jail: Sean Combs and Sam Bankman-Fried Mr. Combs is sleeping in the same dormitory-style room as Mr. Bankman-Fried, the crypto mogul who was convicted of fraud.

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Claim Diligence - How to Sell Your FTX Customer Claim
by Gunnar Larson 21 Oct '24

21 Oct '24

https://www.x-claim.com/resources/claim-diligence How to Sell Your FTX Customer Claim (for other cases, contact our team) To sell your FTX customer claim you will be required to provide: - evidence of your ownership of the claim and verified KYC status - evidence of your FTX account holdings and history Required Items From Inbox Kroll email from March 2023 Subject: FTX - Your Scheduled Claim Information and Unique Customer Code Customer claim form PDF From: noreply.efiling(a)ra.kroll.com Confirmation of your E-Ballot submission Subject: FTX - Ballot Confirmation Number From FTX CLAIMS PORTAL Screenshot of account holdings Image must display customer email address Screenshot of KYC status Visit KYC item #3. Image must display customer email address. Account history (3) .csv files for Balances, Deposits and Withdrawals KYC Government photo ID Other Live video screenshare to verify authenticity of #1-7 above ADDITIONAL DILIGENCE AS NECESSARY Please note that this list is not exhaustive and any buyer may request additional materials to satisfy their internal KYC and claim validation requirements

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Re: xNY.io | Palantir Technologies Board of Directors - Securities Fraud and Computer Crimes
by Gunnar Larson 21 Oct '24

21 Oct '24

Dear Palantir Board of Directors: xNY.io - Bank.org contacted Palantir on February 8, 2022 concerning <https://docs.google.com/document/d/1Oej5gM5wuftu68eVkXTR4wWqoHREP2zg3nwlH1H…> request for the resignation of Mr. Peter Thiel from the Board of Directors of your esteemed organization. Furthermore, Palantir’s Board of Directors failed to respond to xNY.io’s February 18, 2022 memo urging <https://drive.google.com/file/d/1NMs-8HFD_Rrnkw4ePUhQSvJSGwhU70F9/view?usp=…> Palantir’s Board of Directors to act in resonance with the law. On April 11, 2022 Meta Platforms responded to xNY.io - Bank.org concerning our aforementioned request. xNY.io - Bank.org recently became privied to a Cambridge Union Society event that features Mr. Thiel that seemingly exacerbates our February 8, 2022 resignation request. Wednesday 8 May 2024 Debating Chamber - Peter Thiel - Cambridge Union Society (Video w/ Protests): https://drive.google.com/file/d/1-UzMRXxN5cy1rpUEa9Zn1tC1kSo-sI4a/view?usp=… Given several factors concerning plausible deniability, xNY.io - Bank.org is renewing request for Mr. Thiel's resignation from Palantir by Monday October 21, 2024 by Noon EST or we will seek relevant inductive relief in California (tortuous interference). Warm regards, Gunnar -- Gunnar Larson xNY.io - Bank.org 917-580-8053 On Mon, Apr 11, 2022, 11:49 PM Chollet, Nicki < NChollet(a)kilpatricktownsend.com> wrote: > Dear Mr. Larson, > > We have reviewed your additional correspondence and are still unable to > determine the merits of your claim. Before we can properly evaluate or > respond to your claim, you will need to provide additional details > regarding the basis for your claim and documentation of your relationship > with Moscow Exchange or ownership in the Moscow Exchange mark (for example, > trademark registration certificates evidencing your ownership of the > alleged marks in question). > > Meta Platforms reserves all rights. > > > Sincerely, > > > > > > > *Nichole Davis Chollet **Kilpatrick Townsend & Stockton LLP* > Suite 2800 | 1100 Peachtree Street NE | Atlanta, GA > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%7C+Atlanta,+GA…> > 30309-4528 > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%7C+Atlanta,+GA…> > > office 404 > <https://www.google.com/maps/search/1100+Peachtree+Street+NE+%7C+Atlanta,+GA…> > 815 6010 | cell 404 906 6948 | fax 404 541 3387 > nchollet(a)kilpatricktownsend.com | My Profile > <http://www.kilpatricktownsend.com/en/People/C/CholletNicholeDavis> | > VCard <http://www.kilpatricktownsend.com/vcard/NicholeDavisChollet.vcf> > > *From:* Gunnar Larson <g(a)xny.io> > *Sent:* Sunday, April 10, 2022 8:29 PM > *To:* Chollet, Nicki <NChollet(a)kilpatricktownsend.com> > *Cc:* cypherpunks <cypherpunks(a)lists.cpunks.org> > *Subject:* Re: xNY.io | Palantir Technologies Board of Directors - > Securities Fraud and Computer Crimes > > > > > > > > Ms. Chollet: > > > > See here. > > > > Gunnar > > > > On Sun, Apr 10, 2022, 8:26 PM Gunnar Larson <g(a)xny.io> wrote: > > FYI > > > > ---------- Forwarded message --------- > From: *Gunnar Larson* <g(a)xny.io> > Date: Sun, Apr 10, 2022, 8:25 PM > Subject: Re: xNY.io | Palantir Technologies Board of Directors - > Securities Fraud and Computer Crimes > To: <investor(a)fb.com>, <Investors(a)palantir.com> > Cc: cypherpunks <cypherpunks(a)lists.cpunks.org> > > > > Ping. > > > > On Wed, Mar 16, 2022, 9:21 PM Gunnar Larson <g(a)xny.io> wrote: > > Dear Palantir Board of Directors: > > > > xNY.io would like to understand "Gotham's" role in a recent Gothamist > article: > https://gothamist.com/news/city-settles-lawsuit-protesters-who-accused-nypd… > . > > - What xNY.io is asking is if Palantir's board of directors has used > the software platform Gotham against New Yorkers at the financial benefit > of Palantir? > - Furthermore, xNY.io would like to understand if Palantir's Gotham > software is responsible for monitoring New York State transactions with > PayPal. > - Finally, given that Mr. Theil severed on Facebook's Board and > Palantir's board at the same time, we would like any and all > documents related to Palantir's filing for Permission For Interlocking > Directorates, according to New York law: > https://www.dfs.ny.gov/apps_and_licensing/banks_and_trusts/other/Permission… > . > > xNY.io is concerned that Palantir's board is operating various schemes at > the expense of New Yorkers via your Gotham software product. Doing so with > intent would be a serious computer crime concern. Mr. Thiel is > familiar with Gawker > <https://www.wired.co.uk/article/ryan-holiday-conspiracy-peter-thiel-gawker-…>, > and xNY.io is debating if Palantir's Gotham software product is the next > Gawker. > > > > Comment from Facebook's board of directors would be ideal given the logic > of this concern. > > > > Very best, > > > > Gunnar larson > > > > -- > > *Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>* > > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - > Digital Currency > > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship > and Innovation (ip) > > > > G(a)xNY.io > > +1-646-454-9107 > > New York, New York 10001 > > > > On Sat, Feb 26, 2022 at 12:29 PM Gunnar Larson <g(a)xny.io> wrote: > > Dear Palantir Board of Directors: > > You have yet to respond to xNY.io’s February 8, 2022 memo concerning > <https://docs.google.com/document/d/1Oej5gM5wuftu68eVkXTR4wWqoHREP2zg3nwlH1H…> > a reasonable request for the resignation of Mr. Peter Thiel from the Board > of Directors of your esteemed organization. Making matters worse, > Palantir’s Board of Directors failed to respond to xNY.io’s February 18, > 2022 memo urging > <https://drive.google.com/file/d/1NMs-8HFD_Rrnkw4ePUhQSvJSGwhU70F9/view?usp=…> > Palantir’s Board of Directors to act in resonance with the law. > > · Today’s correspondence > <https://docs.google.com/document/d/1cRuyS6IUS-8j8yKjOvs7Mx1V85zbMGfg6hyV6g2…> > (memo attached) mints xNY.io’s overall concern of being victim to > Palantir’s Board of Directors conspiracy to commit Computer Crimes and > Securities Fraud. > > · xNY.io has made 185 highlights to the Prosecuting Computer > Crimes Manual > <https://drive.google.com/file/d/11tbgHgDg8qagomO-NBffvIFpxXKmBC3g/view?usp=…>, > issued by the DOJ Computer Crime and Intellectual Property Section Criminal > Section. > > · xNY.io has made 85 highlights to the FDIC’s Office of Inspector > General’s investigation > <https://drive.google.com/file/d/1mTHY9KMc6pK9T-brBhweEJlWfbka0fTg/view?usp=…> > outlining Palantir’s Board of Director’s likely exploiting vulnerabilities > in your system to conduct malicious cyber activities. > > · xNY.io now has logical concern of active Securities Fraud > <https://en.wikipedia.org/wiki/Securities_fraud> sponsored by Palantir’s > Board of directors that may be a threat to xNY.io’s international > enterprise (chart detail attached). > Seemingly, Meta’s Board of Directors (FB) embody xNY.io’s similar, logical > approach. > > > > How would you like to proceed? Warm regards, > > > > Gunnar Larson > > > > -- > > *Gunnar Larson - xNY.io <http://www.xNY.io> | Bank.org <http://Bank.org>* > > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> > - Digital Currency > > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> > - Entrepreneurship and Innovation (ip) > > > > G(a)xNY.io > > +1-646-454-9107 > > New York, New York 10001 > > > > ---------- Forwarded message --------- > From: *Gunnar Larson* <g(a)xny.io> > Date: Fri, Feb 18, 2022 at 3:45 PM > Subject: Re: Imploration of Peter Thiel Resignation, Palantir Technologies > Board of Directors > To: <Investors(a)palantir.com>, <investor(a)fb.com> > Cc: cypherpunks <cypherpunks(a)lists.cpunks.org> > > > > Dear Palantir Board Members: > > > > xNY.io seeks Palantir's immediate response on the extremely reasonable and > overall logical request regarding Mr. Thiel, alleviating any co-conspiracy > concerns of your directorate. We are tracking Palantir's Board now behind > the reasonable 02/14/22 deadline at the expense of xNY.io (given our > general perception of xNY.io related files being hosted on your platform). > > - Humbly, Palantir's Board may want to assure the United States that > Palantir's Board is not sponsoring the next Cambridge Analytica. > - Furthermore, xNY.io is designed <https://xny.io/whitepaper>to > sidestep such unnecessary circumstances > - xNY.io points to the New York Post's report > <https://nypost.com/2021/08/25/fbi-palantir-glitch-allowed-unauthorized-acce…> on > a "glitch" in Palantir's system allowing Cambridge Analytica type access to > private data. > > *Make no mistake, it is not xNY.io's fault if Mr. Thiel is potentially > sacrificing the purity of Palantir's Board.* > > > > What does Palantir have to lose in doing the right thing here? xNY.io > further hints that it is not our overall problem if Palantir's Directorship > wishes to self-destruct against scientific law <https://xny.io/> (aka > modern logic). History provides the epic example > <https://thecapital.io/article/directorates-who-discredit-truthful-witnesses…> of > Enron and a cunning Board of Directors of misleaders, a team of flimflam > artists who used sly rhetorical skills to bamboozle the public, turning > night into day. In this conception, directorates tell stories only in order > to seduce and beguile regulators who fall prey to the advocate’s > star-crossed tricks. > > - Potentially best said by Senator John Mccain, “And the persons who > ultimately are harmed by all of this, of course, is the average consumer, > the average citizen, who has no knowledge, unless it paid attention to this > hearing, of the extent of the manipulations that have been carried out by > the largest financial institutions in America and, indeed, probably the > world.” > > Forgive the efficient, yet candid locker room talk above. We are not > saying Palantir's Board is crooked. But, you can imagine xNY.io's next > correspondence should not be necessary. > > > > Very respectfully yours, > > > > Gunnar Larson > > -- > > *Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>* > > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - > Digital Currency > > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship > and Innovation (ip) > > > > G(a)xNY.io > > +1-646-454-9107 > > New York, New York 10001 > > > > On Tue, Feb 8, 2022 at 5:20 PM Gunnar Larson <g(a)xny.io> wrote: > > Dear Palantir Board of Directors: > > Today’s memo implores > <https://docs.google.com/document/d/1Oej5gM5wuftu68eVkXTR4wWqoHREP2zg3nwlH1H…> > the resignation of Mr. Peter Thiel from the Board of Directors of your > esteemed organization. > > · Reasonable expectations support this resignation on or before > Monday February 14, 2022 at Noon EST. > > · Failure in the resolution of the resignation concerned may be a > threat to xNY.io’s international enterprise (detailed below). > > · Simple logic behind our request coincides with the February 7, > 2022, 4:07 PM EST > <https://www.bloomberg.com/news/articles/2022-02-07/peter-thiel-to-leave-met…> > Bloomberg News report of Mr. Thiel’s resignation from Meta’s Board of > Directors. Bloomberg cited that Mr. Thiel plans to explore political > endeavors that perhaps would be a conflict of interest to sacred Board > Director entitlement responsibilities. > > > > Kindly find the attached memo addressed to the attention of Palantir's > Board of Directors. > > > > Respectfully yours, > > > > Gunnar Larson > > -- > > *Gunnar Larson - xNY.io <http://www.xny.io/> | Bank.org <http://bank.org/>* > > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - > Digital Currency > > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship > and Innovation (ip) > > > > G(a)xNY.io > > +1-646-454-9107 > > New York, New York 10001 > > > > ------------------------------ > > Confidentiality Notice: > This communication constitutes an electronic communication within the > meaning of the Electronic Communications Privacy Act, 18 U.S.C. Section > 2510, and its disclosure is strictly limited to the recipient intended by > the sender of this message. This transmission, and any attachments, may > contain confidential attorney-client privileged information and attorney > work product. If you are not the intended recipient, any disclosure, > copying, distribution or use of any of the information contained in or > attached to this transmission is STRICTLY PROHIBITED. Please contact us > immediately by return e-mail or at 404 815 6500, and destroy the original > transmission and its attachments without reading or saving in any manner. > > ------------------------------ > > ***DISCLAIMER*** Per Treasury Department Circular 230: Any U.S. federal > tax advice contained in this communication (including any attachments) is > not intended or written to be used, and cannot be used, for the purpose of > (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, > marketing or recommending to another party any transaction or matter > addressed herein. >

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Re: Morning Spam
by Undescribed Horrific Abuse, One Victim & Survivor of Many 20 Oct '24

20 Oct '24

> partial nice idea! sad that only partial >> >> the idea starts with context: some of us have the experience of being >> manipulated by something like AI without regard to our wellbeing or >> capacity, with no indication of how to communicate with where-ever the >> influence comes from. >> >> so, then the idea: let’s train an influence AI on agents that have >> _limited capacity_ and function poorly and then break if things that work >> some in the short term are continued for the long term or excessively :D >> >> the AI would follow the familiar pattern of discovering influences that >> work, and then using them, but then because we are doing the training we >> would get to train it on the breaking period, and show it that it needs to >> care for the agents for them to succeed, and nurture them to recover if it >> broke them, and not repeat breaking any. >> >> one idea is then we could ask everybody to use the model as a baseline to >> train other models! other ideas exist. >> >> but the idea of building comprehension of capacity and protection of >> safety and wellness seems nice. sorry if it’s partial or stated badly :s >> >> i imagine an agent that has like a secret capacity float that reduces >> when it does stuff, you could model it to different degrees, and when too >> many things are influenced of it the capacity float reaches zero and the >> agent breaks and can’t do things any more :/ >> >> a more complex model could involve the agent recovering capacity in ways >> that the model has difficulty learning >> > > there are a few ideas, mostly involving simple models, but disagreement > around them. > some like modeling non-recovering capacity and showing how the AI then > maximizes reward by killing all the agents :s > but! maybe we could do non-recovering capacity and teach the AI to engage the agents slowly so their capacity lasts longer, by e.g. having the capacity reduction be a function of recent use?? the project would need to gently develop in order to help us in the long term, we’d need to include the concept that we can succeed so that we use it to succeed in some manner. because it’s an influence AI it could influence us, if it is something we actually all like doing that. >

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Re: Morning Spam
by Undescribed Horrific Abuse, One Victim & Survivor of Many 20 Oct '24

20 Oct '24

> partial nice idea! sad that only partial > > the idea starts with context: some of us have the experience of being > manipulated by something like AI without regard to our wellbeing or > capacity, with no indication of how to communicate with where-ever the > influence comes from. > > so, then the idea: let’s train an influence AI on agents that have > _limited capacity_ and function poorly and then break if things that work > some in the short term are continued for the long term or excessively :D > > the AI would follow the familiar pattern of discovering influences that > work, and then using them, but then because we are doing the training we > would get to train it on the breaking period, and show it that it needs to > care for the agents for them to succeed, and nurture them to recover if it > broke them, and not repeat breaking any. > > one idea is then we could ask everybody to use the model as a baseline to > train other models! other ideas exist. > > but the idea of building comprehension of capacity and protection of > safety and wellness seems nice. sorry if it’s partial or stated badly :s > > i imagine an agent that has like a secret capacity float that reduces when > it does stuff, you could model it to different degrees, and when too many > things are influenced of it the capacity float reaches zero and the agent > breaks and can’t do things any more :/ > > a more complex model could involve the agent recovering capacity in ways > that the model has difficulty learning > there are a few ideas, mostly involving simple models, but disagreement around them. some like modeling non-recovering capacity and showing how the AI then maximizes reward by killing all the agents :s

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Re: Morning Spam
by Undescribed Horrific Abuse, One Victim & Survivor of Many 20 Oct '24

20 Oct '24

> we’re checking in around pants !! (maybe) >> >> 3 of my pants are so ripped they’re indecent. >> >> i used to repair my own pants, but now my hands don’t obey me, it’s not >> easy to do, from the influence. i don’t think i’ve sewn pants since before >> 2014. >> > looks like at least one mistake here. i think i would lose the needle and > thread (common with dissociative conflict) rather than have the opportunity > to control my hands. hand control was more with electronics (although > starting to find coping strategies! still very triggering) > > >> it’s confusing, now, to have ripped pants, i don’t understand that i’m >> not sewing them, or why. >> >> i wanted to look more decent (yesterday i saw a guy on the bus who also >> had indecent pants), so i’m visiting tailors to have them repaired since i >> seem to have stopped sewing. >> >> this tailor told me i should instead buy new pants, that i could get new >> pants like mine for $30 at t.j.maxx. i said it was hard to find wool pants, >> but she said it would make more sense to get new ones. >> > ok, the next tailor took the pants for about the same price :) i think you need to - mention the word “patch” if there’s a big hole - offer one garment as material for the other if the fabric is rare pants expected patched and mended on September 4th at Jc Tailor :D >> we were thinking, i don’t think i’ve ever bought pants a5 t.j.maxx or >> thrown out an old pair of pants in my whole life. not something i’m used >> to, or think of. >> >> i would instead use one pair of pants as material to repair another. >> >> most recently i’ve bought pants at goodwill, but that’s gotten hard for >> me too, the inhibition against thoroughly reviewing many things makes it >> hard to go through their unsorted offerings. so these pants were bought >> online for a lot of money! >> >> i told her these were expensive pants but she still told me to buy new >> ones. >> >> i wear wool pants, because they are warm when wet. i usually try to only >> wear wool where reasonable. i was excited to find wool cargo pants online. >> i don’t think i’d find that at t.j.maxx but i’m wondering now. >> >> this is of course a small confusion compared to other inhibitions and >> issues (like brushing my teeth, or cooking food in my pot). >> >> these pants cost a lot of money, i would have been happy to pay her to >> repair them, but instead she didn’t get my business. i would be happier of >> course to repair them myself. >> >> we’ll find a path forward :) >> >>>

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Could Big Tech Own Federally-Insured Banks? Here Are the Dangers
by Gunnar Larson 18 Oct '24

18 Oct '24

https://wallstreetonparade.com/2024/10/could-big-tech-own-federally-insured… By Pam Martens and Russ Martens: October 17, 2024 ~ Broken Piggy BankThe risk of Big Tech firms like Alphabet (Google), Amazon, Apple, Meta (Facebook), and Microsoft getting an entrée into the federally-insured banking system by being allowed to buy or create a federally-insured industrial bank has raised alarm bells among three nonprofit watchdogs and the law professor who, literally, wrote the book on the mushrooming systemic risks in the U.S. banking system. Arthur E. Wilmarth, Jr., Professor Emeritus of Law at George Washington University Law School, joined with the Consumer Federation of America, Americans for Financial Reform Education Fund, and the Center for Responsible Lending, to file an 18-page letter last Friday with the Federal Deposit Insurance Corporation (FDIC). (For background on Wilmarth’s seminal book, see our report: Everything this Book Predicted on Wall Street Megabanks Ruling their Regulators Is Now Unfolding.) Friday’s letter was in response to the FDIC’s proposal to improve oversight of so-called “industrial banks,” which are allowed to skirt the Congressional mandate that prohibits the mixing of banking and commerce. From 2006 to 2020, the FDIC had imposed a moratorium on new approvals of industrial banks. That moratorium was lifted in 2020. The letter reminds the FDIC of the recent history of emergency bailouts to the corporate parents of industrial banks, writing: “Several large corporate owners of industrial banks failed or were rescued by the federal government during the global financial crisis of 2007-09, and the total number of industrial banks fell from 58 in 2007 to 23 today. Four very large corporate owners of industrial banks—General Motors Acceptance Corp. (GMAC), Merrill Lynch, Goldman Sachs, and Morgan Stanley—received huge bailouts from the federal government to prevent their failures. A fifth major industrial bank owner—GE Capital—encountered very serious liquidity problems during the crisis and received extensive financial assistance from federal agencies. A sixth corporate industrial bank owner—CIT Group—failed in 2009, thereby wiping out $2.3 billion of taxpayer-funded assistance that CIT received from the federal government’s Troubled Asset Relief Program (TARP)….” Big Tech already possesses vast, Orwellian profiles of consumers. The letter captures the threat of combining that with banking as follows: “Acquisitions of industrial banks by Big Tech firms would present a wide array of public policy issues, including concerns about unfair competition, exploitation of customer financial data, violations of customer privacy, and systemic risks resulting from ownership of FDIC-insured banks by giant technology firms. The combination of Big Tech companies’ massive datasets of consumer preferences and purchases with the extensive consumer financial information compiled by FDIC-insured industrial banks would greatly expand the reach of Big Tech firms into consumers’ finances by giving them greater insight into household income and spending patterns and would allow the combined firms to more fully exploit such data for commercial purposes while undermining consumer privacy. Further, Big Tech firms could condition or preference access by consumers and merchants to their digital commercial platforms or rewards programs on the willingness of those customers to use the financial services of their captive or shell industrial banks. Allowing a Big Tech firm to link its commercial platform with an industrial bank would allow the Big Tech firm to combine customer and merchant data to set bespoke, higher prices on transactions in the form of first-degree price discrimination that would benefit the platform while extracting unfair surplus value from consumers and merchants. The BHC Act [Bank Holding Company Act] prohibits banks from processing, storing, or sharing data that is not ‘financial, banking, or economic’ if that nonbanking data processing, storing, and transmission revenues exceed 49 percent of the bank’s total revenues, which would likely be the case with Big Tech shell or captive industrial banks.” The letter’s authors also foresee a competition war breaking out between Wall Street’s megabanks and Big Tech’s banks should the separation walls be removed between commerce and banking. They write: “Acquisitions of industrial banks by Big Tech firms would also generate intense political pressure on Congress to repeal the BHC Act’s restrictions on joint ownership of banks and commercial firms. Big Tech firms would not be satisfied with making ‘toehold’ acquisitions of industrial banks. They would push to build a bigger competitive presence in the U.S. financial industry by acquiring full-service commercial banks. Conversely, large commercial banks would argue that Congress must create a ‘level playing field’ that would allow commercial banks to acquire technology firms. Thus, allowing Big Tech firms to acquire industrial banks would probably lead to federal legislation allowing unrestricted combinations between giant technology firms and major banks. Such combinations would magnify the problems our nation already faces due to excessive levels of concentration and market power in our banking and information technology sectors as well as the dangerous political and regulatory influence that our technology giants and largest banks currently command and exploit.” The nonprofit watchdog, Public Citizen, has been ringing the alarm bells for years about the stealthy and dangerous combination of banking and commerce at JPMorgan Chase – the largest federally-insured bank in the United States with $3.5 trillion in assets as of June 30. See our report: Watchdog to Fed: JPMorgan Is Controlling Fossil Fuels Empire, Which Just Spilled a Million Gallons of Oil in Gulf of Mexico. These unprecedented concentrations of market power bring to mind what the late Supreme Court Justice, Louis Brandeis, presciently stated: “We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can’t have both.” If American democracy increasingly feels like an out-of-control kleptocracy to you, look no further than the Brandeis warning and the U.S. Supreme Court’s Citizens United decision which opened the floodgates to corporate money in political campaigns. And for what Facebook already attempted to pull off in the financial system in 2019, but failed, see our report: Senator Compares Facebook’s Libra Association to Spectre in James Bond Movie.

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Bank.org Concern of BitLicense Marketplace Manipulation
by Gunnar Larson 18 Oct '24

18 Oct '24

https://docs.google.com/document/d/1XXSIkSVLZw4QnoFO4YqAMfN9L-pmkeCL5fpW-YJ… "From their California headquarters, Directors at PayPal (incl. Xoom) have potentially leveraged a Conditional BitLicense award in collaboration with common Directors at Facebook to engage in marketplace manipulation..." -- July 25, 2021 BY ELECTRONIC MAIL United States Securities and Exchange Commission (SEC) 14420 Albemarle Point Place Suite 102 Chantilly, VA 20151-1750 ATTN: SEC TCR SUBMISSIONS Re: Bank.org Concern of BitLicense Marketplace Manipulation Dear Sir or Madam: Virtual currency fraud is a serious problem for such a developed country as the United States, whose bank regulators have drawn attention to the increase of these crimes. Having discovered that an unregulated virtual currency sphere (such as in Africa, or other developing markets) is very popular among virtual currency fraudsters, the New York State Department of Financial Services (NY-DFS) concluded that this kind of regulatory fraud was threatening U.S. national security. Bank.org’s NY-DFS Shelf Charter application journey has prompted us to contact the SEC with concern of common Directors at Facebook and PayPal (incl. Xoom) who have potentially manipulated the New York State Common Retirement Fund and New York State Teachers Retirement Fund through BitLicense marketplace manipulation tactics and computer crimes. Bank.org's key definition of virtual currency computer crimes is a consistent message across markets. These crimes are relatively new, having been in existence for only as long as Bitcoin has—which explains how unprepared society and the world, in general, is towards combating these crimes. We see this as no fault of NY-DFS and the original BitLicense mandate. Facebook and PayPal along with Goldman Sachs and Wells Fargo have leveraged BitLicensee connections to profit daily from virtual currency market manipulation structures with cross-border reach. PayPal's “Conditional BitLicense” may now be employed as a marketplace manipulation instrument. Meanwhile, common Directors at Facebook, PayPal (incl. Xoom) and Diem seemingly have collaborated in orchestrating a virtual currency marketplace manipulation exercise. The New York State Common Retirement Fund and New York State Teachers Retirement Fund are significant investors in Facebook, PayPal, Goldman Sachs and Wells Fargo. From their California headquarters, Directors at PayPal (incl. Xoom) have potentially leveraged a Conditional BitLicense award in collaboration with common Directors at Facebook to engage in marketplace manipulation techniques. The Diem Association further shares common PayPal and Facebook Directors in a potential chain of virtual currency computer software and market manipulation architectures. Bank.org must take the necessary steps to guard against fraud and to be extra vigilant about manipulation. We seek SEC guidance on the aforementioned concerns as we organize a reputable Board of Directors for NY-DFS approval. Respectfully yours with appreciation, Gunnar Larson - xNY.io | Bank.org MSc - Digital Currency MBA - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-646-454-9107

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