August 2024 - cypherpunks - lists.cpunks.org

Coinbase Scores Victory with Supreme Court Ruling on Federal Arbitration Act - Litigation Finance Journal
by Gunnar Larson 18 Oct '24

18 Oct '24

Check out my new article: https://litigationfinancejournal.com/coinbase-scores-victory-with-supreme-c… Coinbase Scores Victory with Supreme Court Ruling on Federal Arbitration Act - Litigation Finance Journal Litigation Finance Journal recently reported that Coinbase became the first US-based cryptocurrency company to argue a case in front of the Supreme Court. The June decision has been announced, and with a 5-4 majority in favor of Coinbase, the high court ruled “that an interlocutory appeal about one matter (arbitrability) bars the district court from proceeding on another (the merits).” CoinDesk says the ruling is a distinct legal victory for Coinbase, one that could impact future lawsuits against all companies in the United States. For over a century, the Federal Arbitration Act (FAA) has been part of user agreements to protect corporations from risk and expense associated with court battles to resolve customer claims. The decision does not represent any high-court conclusions on cryptocurrencies, outside of Coinbase being one of the associated parties. A lower court decision from the U.S. District Court for the Northern District of California denied Coinbase’s arbitration agreement approach. On appeal, the Ninth Circuit denied Coinbase’s motion to halt hearings while appeal is in progress. The Supreme Court’s decision in favor of Coinbase effectively stays any trial proceedings while appeal is in progress.

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Binance and Coinbase vs. the SEC - Litigation Finance Journal
by Gunnar Larson 18 Oct '24

18 Oct '24

Check out my recent article: https://litigationfinancejournal.com/binance-and-coinbase-vs-the-sec/ On June 5, 2023, the United States Securities and Exchange Commission (SEC) sued the world’s largest cryptocurrency exchange, Binance, for allegedly misleading investors and regulators while operating an unregistered exchange. One day later, the SEC sued the largest cryptocurrency exchange in the United States, Coinbase, for similar allegations. Now, litigation financiers around the globe look on as top law firms organize to defend Binance and Coinbase against the SEC. Bloomberg Law reports that Binance and Coinbase have tapped some of the United States’ top law firms to defend their future to exchange nearly $120B in cryptocurrency token assets. The SEC claims that most of these tokens sum up to unregistered securities. Binance and Coinbase deny any wrongdoing. Agencies such as Lipton, Rosen & Katz, Milbank, Latham & Watkins, Wilmer Hale and Sullivan & Cromwell are among those said to bank upwards of $50M – $100M in legal fees for Binance’s and Coinbase’s defense against the SEC’s recent actions. Sullivan & Cromwell is reported to have billed over $80M in fees associated with the FTX Chapter 11 bankruptcy litigation, according to court documents. The SEC says that unregistered securities in the form of cryptocurrency violate US investor protection laws. Yet, former SEC leaders have joined Binance’s defense team. Richard Grime (of Gibson Dunn & Crutcher) has been hired by Binance. Mr. Grime formerly served as assistant director of the SEC’s enforcement division. William McLucas (of Wilmer Culter Pickering Hale and Dorr) formerly served as the SEC’s enforcement director. Mr. McLucus has been hired by BAM Trading Services, the operator of Binance.US. What does all of this mean for the litigation finance industry? Experts suggest that private actions could be explored by litigation investors and their clients in the wake of the SEC’s approach to cryptocurrency tokens being exchanged as unregistered securities. However, collectability remains a pertinent issue for litigation investors, as they consider whether to pursue crypto litigation funding.

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Pending US Supreme Court Decision is a Coinbase Class Action Cliffhange - Litigation Finance Journal
by Gunnar Larson 18 Oct '24

18 Oct '24

Check out my new article: https://litigationfinancejournal.com/pending-us-supreme-court-decision-is-a… Coinbase’s business has been seminal to the legacy of cryptocurrency innovation. As the global digital asset marketplace continues to mature, Coinbase is tiptoeing between a group of class action lawsuits. Now, the United States Supreme Court is deliberating if Coinbase should be protected by mandatory arbitration. Benzinga reports that in March 2023, the U.S. Supreme Court appeared uncertain regarding whether to allow Coinbase to move to arbitration over class actions which had been launched against the firm. Executives at Coinbase argued that private arbitration is a win for business. The June decision by the Supreme Court will spell a new dynamic for cryptocurrency sector litigation. Some digital asset scholars predict that a lack of mandatory arbitration may devastate business dynamics at Coinbase. Allowing class action lawsuits to continue is an expensive proposition that would inevitably impact the pace of cross-border crypto innovation. Meanwhile, U.S. and global regulatory uncertainty is stoking new legislation that could fuel litigation well into the future. The efficient nature of digital asset technology is at a crossroads. The Coinbase decision, commingled with upcoming regulatory requirements worldwide, will shape business dynamics for enterprise crypto software and the entrepreneurs behind future sector innovation.

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Fwd: Your Freedom of Information Law Request FOIL-2023-096848-022527 - 2022 New York City Pension/Investment Management Asset Performance
by Gunnar Larson 16 Oct '24

16 Oct '24

2024-096848: 3/13/24: While surveying 2022 New York City Pension/Investment Management Asset Performance, xNY.io - Bank.org noticed an overall negative return for the five systems referenced here: https://comptroller.nyc.gov/services/financial-matters/pension/asset-perfor…. xNY.io - Bank.org seeks access to any and all records explaing 2022 New York City Pension/Investment Management Asset Performance as a loss for all five funds. Comprehensively, the mechanisms for garnering public equity are easily understood and easy to execute. An advantage for public equity is its liquidity as most publicly traded stocks are available and easily traded daily through public market exchanges. Related to New York City Pension/Investment Management Asset Performance, public equity investments do not include individual stocks under "asset type" and "asset name." xNY.io - Bank.org would like to receive record if the five systems owned PayPal (PYPL) as an individual investment as part of fund investment across the systems between FY 2020 and 2022. Additionally, xNY.io - Bank.org seeks trading history ststements of PYPL across the five systems between FY 2020 and 2022. SENT VIA EMAIL G(a)xny.io August 13, 2024 Mr. Gunnar D Larson xNY.io - Bank.org 406 West 25th Street New York, NY 10001 Re: Freedom of Information Law (“FOIL”) Tracking No. 2023-096848 Dear Mr. Gunnar D Larson: I write in response to the FOIL request that you submitted to The New York State Department of Financial Services (“Department”), which has been assigned tracking number 2023-096848. The Department requires additional time to respond to your FOIL request because we are still working on your request. The Department intends to provide its determination of your request by September 17, 2024. Thank you. ---------- Forwarded message --------- From: <Carmen.Garrett(a)dfs.ny.gov> Date: Tue, Aug 13, 2024, 11:04 AM Subject: Your Freedom of Information Law Request FOIL-2023-096848-022527 To: <G(a)xny.io> Good morning: Attached, please find correspondence from the New York State Department of Financial Services pertaining to your FOIL request. Thank you. Tracking Number:FOIL-2023-096848-022527

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trying to consolidate device repair information
by Undescribed Horrific Abuse, One Victim & Survivor of Many 12 Oct '24

12 Oct '24

>From f22c7fb86c5b34ee445c1774f282a602ebf371d1 Mon Sep 17 00:00:00 2001 From: John Doe <johndoe(a)example.com> Date: Sun, 19 May 2024 12:45:49 -0500 Subject: [PATCH] initial commit --- mediatek.txt | 199 +++++++++++++++++++++++++++++++++++++++++++++++++++ 1 file changed, 199 insertions(+) create mode 100644 mediatek.txt diff --git a/mediatek.txt b/mediatek.txt new file mode 100644 index 0000000..3cb9129 --- /dev/null +++ b/mediatek.txt @@ -0,0 +1,199 @@ +# Identifying an Android Phone Chipset + - Search online, but note the device could be a fake or clone + - Use the Hardware Info or CPU-Z Android App + - Try proprietary general flashing systems that can identify any chipset + - Try free chipset-specific flashing programs and see which ones accept the device + +## Flashing Tools +### Windows Drivers + +Note that on Windows you may need specific up-to-date drivers to access the embedded chipset. + +### General-Purpose Proprietary Flashing Boxes and Dongles + +Commercial repair shops license commercial flashing tools. +These originally come with a hardware dongle for DRM protection. The software can be found online. +Hovatek links to https://journal.hovatek.com/you-might-have-to-buy-a-box-dongle-heres-why/ + +Partial List: Infinity CM2, Miracle box, Miracle Thunder, EFT dongle, +NCK Pro box, UMT dongle, Medusa Pro box, XTC 2 Clip, BST dongle, IP +box, Octopus box, Sigma box, Riff box, Octoplus Pro box + +### Chipset Manufacturer's Flashing Tool + +Each chipset manufacturer generally has a suite of flashing tools used to originally program the phones. +These generally flash chipset-specific scatter formats with partition maps. +- Mediatek: SP Flash Tool. Note this is available for Linux. + +### Open Source Tools + +Each chipset reverse engineering community has at least one open source flashing tool. +Unlike the chipset manufacturer's flashing tools, these tools may include the use of exploits for software access to devices that are bricked or locked. +They generally flash raw image data provided via their interface, rather than a scatter file. +- Mediatek: mtkclient in python + +# MediaTek +- Easier than unisoc, harder than qualcomm + +## Identifying a MediaTek Android ROM Format + - update.zip / Tcard + - contains META-INF/ and scatter.txt + - flashed in stock recovery mode, NOT with a scatter flash tool + - .img / Scatter + - contains MT****_Android_scatter.img, .img files, .bin files + - flash with a proprietary MediaTek flashing tool such as SP Flash Tool, NCK, Infinity CM2, SP Multiport, ... + - Single .bin + - single raw file + - associated with GSM Aladdin, Miracle, Infinity CM2 + - TWRP backup + - contains .win/.win.md5 files, other recoveries might have .ext4.tar or .img + - flash with the recovery type they were made with + - Custom rom + - device specific + - flash with custom recovery like TWRP, Phiz, CWM + +## Common MediaTek Partitions & Associated Troubleshooting + - Secro /secro: baseband info. "Unknown Baseband" if corrupt. + - Preloader: initializes device, won't even charge if corrupt + - Nvram: radio info, imei, wifi, bluetooth mac addresses + - Boot /boot: kernel and ramdisk, won't boot to OS if corrupt + - System /system: OS and apps, stuck at logo if corrupt + - Lk or Uboot: kernel code, corrupt -> white,black,multicolored screen + - Logo: controls boot logo image + - Userdata /userdata: user apps, contacts, etc. userspace errors or lag if corrupt + +## MediaTek Boot Modes + +### BootROM +BROM mode is the initial hardware boot stage. +This usually hands off to the preloader, but the system can be configured to +boot straight to BROM, and this can be forced by grounding KPCOL0 or the EMMC +storage pins. This can be used to unbrick a device with a corrupt preloader. +If there is no preloader enabled, the bootrom will briefly connect a serial +device to the USB port to allow a flasher to interrupt boot and flash the +system. + +### Preloader +The preloader is the software bootloader which hands off to normal booting. +The code executed is in a flashable partition. +Before booting, like the BROM, the preloader will connect a serial device +to the USB port to communicate with a flasher. +Whether the phone is running the preloader or the bootrom can be identified +by the identity of the connected serial device. + +For the bootrom to accept a new preloader, an Authentication File is needed. + +MediaTek designs it such that the flashing tool uploads a signed Download +Agent to RAM, which the preloader verifies the signature of and then hands +off control to. This is called Secure Boot. + +If the Download Agent file is wrong, errors might include: +Boot Error! S_INVALID_DA_FILE, S_FT_DOWNLOAD_FAIL (2004), +S_BROM_DOWNLOAD_DA_FAIL, S_SECURITY_SECURE_USB_DL_DA_RETURN_INVALID_TY PE +(6104), MSP ERROR CODE: 0X00, S_AUTH_HANDLE_IS_NOT_READY (5000), +STATUS_SEC_AUTH_FILE_NEEDED (0xC0030012) and many more + +NEVER DESTROY THE PRELOADER AND SECURE BOOT DATA! You may need private keys +to recover. + +Community DA collection: https://forum.hovatek.com/forum-112.html + +Tecno, Infinix, and Itel / Transsion devices have tools that work without DA +files. + +### Recovery Mode +Recovery mode is for normal flashing. +1. Power off the device +2. Hold volume-up +3. Hold power while volume-up is held +4. Release both when boot logo appears +For some devices, steps 2 and 3 are reversed. + +### Factory Mode +Factory mode is for diagnostics, running tests, clearing the emmc, and resetting the touch calibration. +1. Power off the device +2. Hold volume-down +3. Hold power while volume-down is held +4. Release both when boot logo appears. +For some devices, steps 2 and 3 are reversed. + +### Safe mode +Safe mode disables installed apps, and is good for troubleshooting whether problems are associated with user apps. +1. Long-press power button like you intend to reboot +2. Long-press the reboot option in Android +3. A dialog prompts regarding safe mode. Selecgt OK +4. Allow the device to reboot +5. It should say "safe mode" in the lower left during operation + +## Dumping Firmware + +### Dumping firmware with SP Flash Tool +SP Flash Tool requires a provided download agent signed with a key the +device accepts. + - Use Wwr MTK to create a temporary scatter file. Go to auto mode, select chipset and memory type. More templates available at Hovatek forum. Click create and save as. + - Load SP Flash Tool, click to browse for download agent, select .bin file. + - Select the Wwr scatter file. + - Use the physical address and length information from the scatter file. + - Go to readback tab, click add, double-click the entry. EMMC_BOOT1, then PGPT. + - Initiate the transfer + - Remove the battery from the device, then connect it. + - The length of the full dump is stored in the PGPT. It's the same length as boot_1 is in the user region. + - WWR can load the preloader PGPT. Click "select file" in the upper right and open the preloader from emmc_boot_1. Then head to the table of sections tab, and load the PGPT to populate it. "Full volume of GPT" field shows entire size of data. Partition offsets and lengths are shown to perform partial dumps. + NOTE: can't the PGPT be changed? there are more direct approaches + - WWR can import larger regions of the dump, too, and identify other things about the device in the auto mode tab. It can then export firmware formats for other flashers to use. + Binary search option is useful. + +## Flashing Firmware + +Build number is everything! Settings -> About -> Build Number +Variants are two phones of the same model, with a slight difference, often indicated in changes to the build number. +You may or may not be able to interflash firmware across build variants or groups. +Sometimes variants do not change the build number. + +### Flashing firmware with SP Flash Tool + + +# links +- hovatek.com + phone repair support company with classes, articles, and a question answer service + - mediatek links from old phone repair class + - mtk vcom drivers: https://drive.google.com/file/d/0B9srKhKuVIMnalFkV3EzWjVXdUE/view + - adb & fastbot[ibid] drivers: https://androidfilehost.com/?fid=95855108297851314 + - Wwr_MTK: https://mega.nz/#!W8lwmC7b!98r6ttK9hATkZpW5vJ-JS7-qQ8Hp7PCRdRT2bGoYuGY + - Miracle box: https://mega.nz/#!6PZkxIJS!JVlJkweSsj77qUOHvQ977qkMD2E4eApRA6k9uUkUX7w + - NCK Pro box MTK: https://mega.nz/#!GP50wIoQ!kQxh9SsMJBQqKoh-q4Aks7FHARHWLyIVUBVzLCj-MaQ + - Infinity CM2: https://forum.hovatek.com/thread-21773.html + - SP flash tool: https://mega.nz/#!f11WEIrQ!KWFnNEe6GbFgcQtoZcYZ5zBKqrvqvSOLT3amnGU-Yso + - Software Download (transsion Aftersale) tool: https://mega.nz/#!ylFmlIAI!-lbOX0cAMKxGotE0vpedNQDw74cyZWU9BwSd6cYQsYk + - SP Multiport: https://mega.nz/#!y1N0FQLK!nLLLjWqX_FXrkIIBkMLt9EIGf3PN3aD_qwn0aHjMy3g + - SN Writer / Write tool: http://www.mediafire.com/file/94vbv8n3zpbcjlj/SN_Write_Tool_v2.1504.00.zip + - Maui Meta: https://drive.google.com/file/d/0B4S-Z726VJ2SZ0R1MHpDY3JISkU/view + - GSM Aladdin: https://mega.nz/#!Dk0WGJJL!LCR6ua1BDitYycE1sm-1SzvdwcvKxHie8hAjtd5Om2k + - Magisk Manager: https://bit.ly/2w2oQZz + - MTK TWRP Porter (GUI) v1.4: https://mega.nz/#!UTBFyS6Y!LrvJrJ7__HBn0_IDoFRnhwFe1Srv_jMCc1K5fm84YyA + - MTK TWRP Porter (GUI) v1.6: https://mega.nz/#!Ufxh0AIA!t6QvP3VWhrg0Lq39tcXrOwAJCUvuWtnUUN3PiFCiDBg + - MTK Philz porter (GUI): https://mega.nz/#!1HY03SLZ!al1OyLv_j_kSeLPFhn7K_OfRqe0sjpjHlP5V-iIbZR0 + - Z3X MST box: https://mega.nz/#!dT4j0RRb!iv4msg39ZbpiatKuImwQoo5wNO1HhtkugBOQ0cQGris + - CheckSum generator: https://mega.nz/#!pSZW3KYI!JYrOcMFkVYO_ZIYgTXkzTI9dwHbDhzZjhzv0TlvazF8 + - Blank vbmeta.img: https://mega.nz/#!dnAS3AhD!g5PnSg-0UKFvyhZSZ8Em6gKO2Do7avaUepPmsH75-Bg + - Mi Unlock tool: https://en.miui.com/unlock/download_en.html + - CDC driver: https://drive.google.com/file/d/0B4S-Z726VJ2Sc2hXaDhaRDFCb28/view + On 2024-02-07, I uploaded most of these to arweave with a download script that needs gnu parallel and jq. + Note, I was likely experiencing advanced compromise during this upload. + https://arweave.net/lLbBWwRthEAn-LFHSaAOUq29cZUJV7d_TlofzKPW8oQ/hovatek-mtk… + "If https://arweave.net is blocked, change the GW variable in the script." + +# notes may be found in +- [x] morning spam + starting tue feb 6 2024 searching keywords 'mediatek' and 'hpp-l55b' so far found only logs and a link to hovatek.com +- [ ] non-canon spinoffs + phone repair course starting 2024-02-07 + i'm up to '05-32 How to get the build number of a bricked MTK device' + adding the infomration to the Flashing section above +- newae technology, embedded security article +- 'trying to take control of my free government phone' log +- trying to make unihertz titan boot +- information on unihertz titan +- the trials of mediating algorithms +- uhhh should i understand the exploits my new phone + -- 2.43.0

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Four Highlights to REPORT OF INVESTIGATION INTO ALLEGATIONS OF SEXUAL HARASSMENT BY GOVERNOR ANDREW M. CUOMO STATE OF NEW YORK OFFICE OF THE ATTORNEY GENERAL LETITIA JAMES
by Gunnar Larson 04 Oct '24

04 Oct '24

Today Gunnar got out of bed and realized he has to stage a Pershing Square type of success out of the Middle East: https://www.hbs.edu/faculty/Pages/item.aspx?num=49778. AG James, once human rights start paying for themselves, everything changes. What was happening in Chelsa during this investigation is being hid from New Yorkers just like the Steele Dossier but WORSE. Gunnar Donald Arthur Peter Larson must keep his integrity Mr. Mayor Adams. And my situation is far more impactful than sneaking into first class... AG James, can you please confirm that the current Superintendent is not up to worse to the four highlights here? Gunnar ---- Four Highlights to REPORT OF INVESTIGATION INTO ALLEGATIONS OF SEXUAL HARASSMENT BY GOVERNOR ANDREW M. CUOMO STATE OF NEW YORK OFFICE OF THE ATTORNEY GENERAL LETITIA JAMES: https://drive.google.com/file/d/1ZCy-8lHFc0AAihuWP8UpXg0LC4CkLnw_/view?usp=… EXECUTIVE SUMMARY We, the investigators appointed to conduct an investigation into allegations of sexual harassment by Governor Andrew M. Cuomo, conclude that the Governor engaged in conduct constituting sexual harassment under federal and New York State law. Specifically, we find that the Governor sexually harassed a number of current and former New York State employees by, among other things, engaging in unwelcome and nonconsensual touching, as well as making numerous offensive comments of a suggestive and sexual nature that created a hostile work environment for women. Our investigation revealed that the Governor’s sexually harassing behavior was not limited to members of his own staff, but extended to other State employees, including a State Trooper on his protective detail and members of the public. We also conclude that the Executive Chamber’s culture—one filled with fear and intimidation, while at the same time normalizing the Governor’s frequent flirtations and gender-based comments—contributed to the conditions that allowed the sexual harassment to occur and persist. That culture also influenced the improper and inadequate ways in which the Executive Chamber has responded to allegations of harassment.1 ---- Executive Assistant #1’s Hesitation to Report Governor Cuomo’s Conduct Executive Assistant #1 repeatedly testified that she felt she had to tolerate the Governor’s physical advances and suggestive comments because she feared the repercussions if she did not.183 She did not feel she could tell anyone, including her colleagues and her direct supervisors.184 In addition, the Governor had specifically told her—with respect to the selfie they took together—that she was not to share it or tell anyone about it other than Ms. McGrath.185 Executive Assistant #1 testified that she needed the income (including the overtime pay received from working on weekends), particularly as she was going through a divorce and was focused on not risking losing her job.186 Executive Assistant #1’s hesitance to report the Governor’s conduct was also informed by her observation of the Executive Chamber’s reactions to other women’s allegations against the Governor. In mid-to-late December 2020, Executive Assistant #1 personally witnessed what she felt were the Executive Chamber’s efforts to discredit the allegations of Ms. Boylan against the Governor, including by repeatedly describing Ms. Boylan as “crazy” and by trying to get Ms. Boylan’s personnel files to the press.187 Executive Assistant #1 recalled that Ms. DeRosa, Richard Azzopardi (the Senior Deputy Communications Director and Senior Advisor to the Governor at the time), and at times Linda Lacewell (the Superintendent of the Department of Financial Services) would be in Ms. DeRosa’s office during that period.188 They described Ms. Boylan as crazy and having a political agenda, and talk about shutting down Ms. Boylan’s allegations quickly.189 On or around December 13, 2020,190 while Executive Assistant #1 was assisting the Governor at the Capitol, she observed that Mr. Azzopardi was asked to retrieve a box from Beth Garvey, Senior Counsel and Senior Advisor to the Governor at the time, which Executive Assistant #1 helped carry from the Counsel’s Office to the Front Office in the Capitol.191 From the context of the discussions happening around that time, Executive Assistant #1 understood that the box contained documents relating to Ms. Boylan.192

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Linda A. Lacewell
by Gunnar Larson 04 Oct '24

04 Oct '24

Subject: Linda A. Lacewell https://new.mta.info/people/linda-lacewell Recommended by: Governor Appointed on: June 20, 2019 Term expired: January 1, 2023 Committee assignments: B&T (Chair), NYCT-MTA Bus, Finance, Corporate Governance, Diversity Linda A. Lacewell currently serves as Superintendent of the New York State Department of Financial Services. Lacewell previously served as Chief of Staff and Counselor to the Governor. In that role, she oversaw Executive Chamber operations, as well as ethics and law enforcement matters. Before that, Lacewell was Executive Director of a cancer foundation initiative in Culver City, California. Lacewell also served as Chief Risk Officer and Counselor to Gov. Cuomo, where she built and implemented the first statewide system for ethics, risk, and compliance in agencies and authorities. Lacewell was formerly Special Counsel to the Governor, as well as the architect of OpenNY, a state-of-the-art open data initiative. She also served as special counsel to Attorney General Cuomo, where she oversaw the public pension fund pay-to-play investigation and the out-of-network health insurance investigation, both of which led to nationwide systemic reform. Lacewell spent nine years as an assistant U.S. attorney for the Eastern District of New York, including two years on the Enron Task Force, and received the Henry L. Stimson Medal and the Attorney General's Award for Exceptional Service. Lacewell earned her B.A. from New College of the University of South Florida and her J.D. with honors from the University of Miami School of Law. She clerked for a United States District Judge for the Southern District of Florida. Lacewell serves as an adjunct professor at New York University School of Law, teaching ethics in government, and previously served as an adjunct professor of law at Fordham University School of Law, teaching international criminal law.

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The Entrapment Controversy
by Gunnar Larson 01 Oct '24

01 Oct '24

Author: Roger C. Park Title: The Entrapment Controversy Source: Minnesota Law Review Citation: 60 Minn. L. Rev. 163 (1976). 212 Highlights by Brody Larson: https://drive.google.com/file/d/1rhPWgd_OniZVLeJIlieDBx5VNC2chenn/view?usp=…

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Entrapment
by Gunnar Larson 01 Oct '24

01 Oct '24

Hello: I have been under entrapment most of the day. The agents have been rude and I have asked them multiple times to operate under proper decorum. Gunnar Larson

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Enron’s Board of Directors: Contemporary Lessons on Crypto Marketplace Manipulation Computer Crimes - Crypto Computer Crimes Manual (W/187 Highlights Attached)
by Gunnar Larson 30 Sep '24

30 Sep '24

A few years ago, I wrote an essay titled: "Enron’s Board of Directors: Contemporary Lessons on Crypto Marketplace Manipulation Computer Crimes - Crypto Computer Crimes Manual (W/183 Highlights) Working references on disclosure controls and procedures, as well as strategic initiatives including mergers and acquisitions, joint ventures, and management restructurings (including public/private board of directors). Full, fair, and accurate disclosures from all parties in a battle for corporate influence or control are critically important to investors, particularly when they are called upon to make decisions about their investments. Contemporary crypto computer crimes likely are key considerations relevant to making informed investment decisions by sophisticated investors, underscoring protection of pension assets via keen planning. BitLicense marketplace manipulation techniques and potential cross-border computer crimes has been a major focus of xNY.io's scholar research/innovation communication and Bank.org's business plan execution strategy. The World Bank (WorldBank.org) notes that vulture funds endanger the gains made by debt relief to poorest countries. "The Bank has already delivered more than $40 billion in debt relief to 30 of these countries...thanks to this, countries like Ghana can provide micro-credit to farmers, build classrooms for their children, and fund water and sanitation projects for the poor," wrote World Bank Vice President Danny Leipziger in 2007. World Bank directors warn that strategies adopted by vulture funds divert much needed debt relief away from the poorest countries on earth and into the bank accounts of the wealthy. Bank.org is clear-eyed; microcredit lending fraud is a major issue for developing economies. Likewise, in western developed economies, market history warns that when boards of directors approve of and/or ignore the misuse of computer software programs which compute values based upon data input formulas from active cross-border manipulation structures, the results can lead to scandals like Enron. Such outcomes cost investors billions of dollars when the share prices of affected companies collapse, while also shaking public confidence in the United States securities markets. Enron’s Board of Directors: Contemporary Lessons on Crypto Marketplace Manipulation Computer Crimes In its 2000 review of best corporate boards, Chief Executive Magazine included Enron among its five best boards. Even with its complex corporate governance and network of intermediaries, Enron was still able to "attract large sums of capital to fund a questionable business model, conceal its true performance through a series of accounting and financing maneuvers, and hype its stock to unsustainable levels."On paper, Enron had a model board of directors comprised predominantly of outsiders with significant ownership stakes and a talented audit committee of various state and federal regulators. Two decades later, in 2021, it is clear that cryptocurrency and blockchain computer software systems require contemporary, ethically pure and sound cultivation to support the realization of a "generation of innovation," maximizing the full potential of blockchain software technologies. Board directors that will pioneer the next chapters of the meaningful New York legacy of global, cross-border banking will agree: Close scrutiny of corporate governance and greater responsibility placed on directors to vouch for the reports submitted to the SEC and other federal agencies have resulted in the growth of computer software solutions such as blockchain systems and processes. Cryptocurrency and Blockchain computer software products allow corporate directors and internal auditors to assemble and analyze financial and other relevant data—including unstructured data—and create reporting required by New York BitLicense regulators and various Federal counterparts. Before its demise, Enron was lauded for its sophisticated software, including financial risk management tools powered by computer software. Risk management was crucial to Enron not only because of its regulatory environment, but also because of its business plan. Enron established long-term fixed commitments which needed to be hedged to prepare for the invariable fluctuation of future energy prices. Enron's downfall was attributed to its reckless use of derivatives and special purpose formulas manipulated by computer accounting software tools. To engage in probable computer crimes, Enron hedged its risks with special purpose entities which it owned, and Enron retained the risks associated with the transactions. Enron's aggressive accounting practices were not hidden from the board of directors, as later learned by a Senate subcommittee. The board was informed of the rationale for using the Whitewing, LJM, and Raptor transactions, and after approving them received status updates on the entities' operations. Although not all of Enron's widespread improper accounting practices were revealed to the board, the practices were dependent on board decisions. Eliminating Bad Board of Director Schemes Ranging from additional corporate board responsibilities to criminal penalties, the Securities and Exchange Commission (SEC) implemented disclosure requirements to comply with the law. A recent SEC order reiterated the importance of the disclosures, noting that the requirements were adopted in order to alert the market to large and rapid accumulation of shares that might represent a possible change in corporate control so that shares can be valued accordingly. The SEC order also noted that the requirements were designed to provide an issuer’s management with timely information to appropriately protect its shareholders’ interests (including pension protections). The SEC’s recent enforcement actions relate to disclosure obligations in connection with M&A transactions and fights for corporate control. In 2015, the SEC brought forth a number of similar enforcement actions alleging that filers had failed to update their disclosures after taking steps towards certain plans and proposals. These types of enforcement actions continue to create challenging issues for practitioners, particularly when potential transactions are still in the early stages of planning and preliminary negotiation. The SEC’s historic actions serve as a reminder to investors, including vulture activists, that Schedule 13D violations can result in monetary liability and, in the case of registered funds and investment advisers, can also have other regulatory consequences. Care must be taken to avoid those communications constituting group activities with disclosure consequences. It should be noted that in some cases, coordination among the parties or sharing of information is sufficient to form prompts for disclosure purposes. Intention of Disclosing Crypto Computer Crimes Manual (W/183 Highlights) Published by the Office of Legal Education Executive office for United States Attorneys, the “Prosecuting Computer Crime Manual” has been xNY.io’s reference guide as international scholars researching Crypto Computer Crimes and how to best position corresponding Bank.org business innovation moving forward. The SEC encourages the description of any plans or proposals such as Proof of Burn (PoB) or Short Selling market activities which may relate to or would result in: The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer; An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its subsidiaries; A sale or transfer of a material amount of assets of the issuer or any of its subsidiaries; Any change in the present board of directors or management of the issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; Any material change in the present capitalization or dividend policy of the issuer; Any other material change in the issuer's business or corporate structure, including but not limited to, if the issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by section 13 of the Investment Company Act of 1940; Changes in the issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person; Causing a class of securities of the issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; A class of equity securities of the issuer becoming eligible for termination of registration pursuant to section 12(g)(4) of the Act; or Any action similar to any of those enumerated above. Below we share 187 highlights to the Computer Crimes Manual as per best disclosure practices to illustrate various potential scenarios when market conditions are met and a board of directors potentially exploits blockchain technological software innovation with forecastable reckless consequences. https://drive.google.com/file/d/11tbgHgDg8qagomO-NBffvIFpxXKmBC3g/view?usp=…

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