February 2024 - cypherpunks - lists.cpunks.org

Bybit Wants $953M FTX Suit Axed For 'Threadbare' US Ties
by Gunnar Larson 09 Feb '24

09 Feb '24

Subject: Bybit Wants $953M FTX Suit Axed For 'Threadbare' US Ties Bybit Wants $953M FTX Suit Axed For 'Threadbare' US Ties <https://www.law360.com/capitalmarkets/articles/1795204?nl_pk=abe82add-2a33-…> By Alex Wittenberg Cryptocurrency exchange Bybit Fintech Ltd. has urged a Delaware bankruptcy judge to throw out an FTX lawsuit that aims to recover $953 million that Bybit and affiliates allegedly raced to withdraw before FTX collapsed, arguing that the case has "no connection" to the U.S. and even if it did, FTX's claims all fail. 2 documents attached | Read full article » <https://www.law360.com/capitalmarkets/articles/1795204?nl_pk=abe82add-2a33-…> | Save to favorites » <https://www.law360.com/capitalmarkets/articles/1795204?nl_pk=abe82add-2a33-…>

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BREAKING: FCC Immediately Bans Robocalls Using AI-Cloned Voices
by Gunnar Larson 09 Feb '24

09 Feb '24

BREAKING: FCC Immediately Bans Robocalls Using AI-Cloned Voices <https://www.law360.com/compliance/articles/1795720?nl_pk=ab5ce197-c1fb-4d8e…> By Christopher Cole The Federal Communications Commission on Thursday banned robocalls using cloned voices developed with artificial intelligence. 1 document attached | Read full article » <https://www.law360.com/compliance/articles/1795720?nl_pk=ab5ce197-c1fb-4d8e…> | Save to favorites » <https://www.law360.com/compliance/articles/1795720?nl_pk=ab5ce197-c1fb-4d8e…>

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S&P 500 Sets a Record on Wednesday as Banks Continue Tanking
by Gunnar Larson 08 Feb '24

08 Feb '24

https://wallstreetonparade.com/2024/02/sp-500-sets-a-record-on-wednesday-as… By Pam Martens and Russ Martens: February 8, 2024 ~ The S&P 500 closed at a record of 4995.06 yesterday while banks – big, medium, and small – continued to see their share prices hammered. And while the media is focusing the public’s attention on the share price collapse of New York Community Bancorp, which as of yesterday’s closing price is down 56 percent year-to-date and had its credit rating downgraded to junk by Moody’s on Tuesday evening, numerous other banks are trading at their lowest levels in two years. Below is just a tiny sampling of what’s going on in the U.S. banking system (that you’re not reading about in the mainstream news). The chart above shows the share price performance over the past two years of the six banks described below. U.S. Bancorp, parent of U.S. Bank, is the 5th largest bank in the U.S. with $663.5 billion in assets as of December 31, 2023 according to its 8K filing with the SEC. The Federal Deposit Insurance Corporation (FDIC) indicates that U.S. Bank operates in 28 states with 2,308 bank branches. The common stock of the parent (ticker USB) has lost over 30 percent of its market value in the past two years. According to the Federal Reserve’s list of U.S. banks by asset size, KeyBank was the 22nd largest bank in the U.S. as of September 30 of last year, with $186 billion in assets. The FDIC shows KeyBank operates in 16 states with 985 bank branches. The common stock of its parent, KeyCorp (ticker KEY), has lost 50 percent of its value over the past two years. Comerica was the 32nd largest bank in the U.S. with $86 billion in assets as of the third quarter of last year, according to the Federal Reserve. FDIC data shows it operates in six states with 415 bank branches, predominantly in Michigan, California and Texas. The common stock of Comerica (ticker CMA) has lost 50 percent of its market value in the past two years. Western Alliance Bancorp, parent of Western Alliance Bank, was the 35th largest bank in the U.S. as of the third quarter of last year with $70.5 billion in assets. The FDIC reports that it currently operates in six states with 38 bank branches, which are predominantly located in Arizona, California, and Nevada. Its common stock price (ticker WAL) was battered during the collapse of Silicon Valley Bank in March of last year. Over the past two years, its shares have lost 45 percent of their market value. As of September 30 of last year, Valley National Bank was the 37th largest bank in the U.S. according to the Federal Reserve, with assets of $61 billion. FDIC data shows it currently has 237 bank branches, predominantly in New Jersey, New York, Florida, and Alabama. The parent of Valley National Bank, Valley National Bancorp (ticker VLY), has lost 43 percent of its common stock market value in the past two years. The stock closed down 2.33 percent yesterday, at $7.98. Small regional banks have experienced even more dramatic share price pain. First Foundation Inc., parent of First Foundation Bank (ticker FFWM), has seen its share price lose 70 percent of its market value in two years. The mega banks have not been immune from the price pain either. Citigroup, Morgan Stanley, Bank of America and Deutsche Bank are all down between 20 to 30 percent over the same two-year time span. In a noteworthy move yesterday, Deutsche Bank closed down 4.62 percent. It is important to remember that the global behemoth, Credit Suisse, blew up during the regional banking crisis in the spring of last year and was taken over by UBS.

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BREAKING: Justices Rule Gov't Agencies Not Immune From FCRA Suits
by Gunnar Larson 08 Feb '24

08 Feb '24

BREAKING: Justices Rule Gov't Agencies Not Immune From FCRA Suits <https://www.law360.com/banking/articles/1792748?nl_pk=feb6bbba-7878-4d39-be…> By Matthew Santoni The U.S. Supreme Court ruled Thursday that a person can sue a government agency under the Fair Credit Reporting Act, because the law's 1970 definition of a "person" was sufficient to waive the government's immunity. Read full article » <https://www.law360.com/banking/articles/1792748?nl_pk=feb6bbba-7878-4d39-be…> | Save to favorites » <https://www.law360.com/banking/articles/1792748?nl_pk=feb6bbba-7878-4d39-be…>

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BREAKING: High Court Sides With Whistleblower Against UBS
by Gunnar Larson 08 Feb '24

08 Feb '24

BREAKING: High Court Sides With Whistleblower Against UBS <https://www.law360.com/banking/articles/1765445?nl_pk=feb6bbba-7878-4d39-be…> By Sarah Jarvis The U.S. Supreme Court on Thursday found that whistleblowers don't need to show retaliatory intent on the part of their employers in order to be protected under federal law, in a unanimous ruling in favor of a former UBS employee and whistleblower who fought to restore a $900,000 jury verdict he secured in 2017. Read full article » <https://www.law360.com/banking/articles/1765445?nl_pk=feb6bbba-7878-4d39-be…> | Save to favorites » <https://www.law360.com/banking/articles/1765445?nl_pk=feb6bbba-7878-4d39-be…>

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Ex-Fintech Exec Convicted Of Crypto Manipulation Conspiracy
by Gunnar Larson 08 Feb '24

08 Feb '24

Subject: Ex-Fintech Exec Convicted Of Crypto Manipulation Conspiracy Ex-Fintech Exec Convicted Of Crypto Manipulation Conspiracy <https://www.law360.com/fintech/articles/1795469?nl_pk=d2b3e7ef-ab62-4a62-80…> By Katryna Perera The former head of financial engineering at fintech company Hydrogen Technology Corp. was convicted by a Florida federal jury Wednesday of conspiring to manipulate the market for Hydrogen's digital assets. Verdict attached | Read full article » <https://www.law360.com/fintech/articles/1795469?nl_pk=d2b3e7ef-ab62-4a62-80…> | Save to favorites » <https://www.law360.com/fintech/articles/1795469?nl_pk=d2b3e7ef-ab62-4a62-80…>

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Bank.org Concern of BitLicense Marketplace Manipulation
by Gunnar Larson 08 Feb '24

08 Feb '24

Subject: Bank.org Concern of BitLicense Marketplace Manipulation News out today about BitGo is annoying, SEC. We messaged the SEC back in 2021: Full Del. High Court Asked To Revive $1.2B Crypto Merger <https://www.law360.com/mergersacquisitions/articles/1794819?nl_pk=a34c25b5-…> By Leslie A. Pappas Cryptocurrency wallet provider BitGo deserves the chance to go to trial with digital assets firm Galaxy Digital over their broken $1.2 billion merger because the dispute involves complex questions of administrative, agency and securities laws, as well as regulatory guidance, BitGo told Delaware's highest court Wednesday. 3 documents attached | Read full article » <https://www.law360.com/mergersacquisitions/articles/1794819?nl_pk=a34c25b5-…> | Save to favorites » <https://www.law360.com/mergersacquisitions/articles/1794819?nl_pk=a34c25b5-…> ---------- Forwarded message --------- 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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A giant butt on the human face forever
by pro2rat＠yahoo.com.au 08 Feb '24

08 Feb '24

Vitalik Buterin Targeted in Ongoing Deepfake Dilemma coingabbar (18 minutes ago) In the current era of expanding AI technologies, harmful effects are emerging, particularly in the form of Deepfake videos. Leaders across industries, including celebrity influencers and tech figures, are being targeted. Recently, Ethereum co-founder Vitalik Buterin has once again become a victim. SAD!

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NBA, McCarter & English Roped Into Voyager Crypto Fight
by Gunnar Larson 08 Feb '24

08 Feb '24

NBA, McCarter & English Roped Into Voyager Crypto Fight <https://www.law360.com/fintech/articles/1795072?nl_pk=d2b3e7ef-ab62-4a62-80…> By Alex Lawson The fallout from the collapse of Voyager Digital Holdings Inc. has widened as investors in the bankrupt cryptocurrency exchange filed a proposed class action against the NBA and the law firm McCarter & English for their roles in boosting the company before its implosion. Complaint attached | Read full article » <https://www.law360.com/fintech/articles/1795072?nl_pk=d2b3e7ef-ab62-4a62-80…> | Save to favorites » <https://www.law360.com/fintech/articles/1795072?nl_pk=d2b3e7ef-ab62-4a62-80…>

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FBI Social-engineering
by Gunnar Larson 08 Feb '24

08 Feb '24

FBI Social-engineering: https://www.instagram.com/reel/C3FNA1_tbFG/?igsh=MTVrMWt5YzVhMW0wbg==

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