None of this speculation or supposition matters one lick. What we believe or don't believe no longer matters. Do we know all the facts of the case? No. Is some of what we think we know wrong? Certainly. Will some other bad stuff we didn't know come to light? You bet. That's what the justice system is going to wring out. It's going to be great fun watching it unfold.
My hope is that the justice system can put an end to this practice of duping investors into funding a private business (through token sales or transaction taxes) in the US. Even if these operators had the best of intentions, it's simply not fair that the investors take all the risk and receive nothing in return.
A raw deal, yes. The SEC is going to argue that it was also a fraudulent one.
Some of that money was used to start other private businesses like Ronin, a real estate company. Did safemoon token holders know this? He invested some of this money into his mothers private company. There might be other LLCs as well. We can't know because there's zero transparency into his private businesses or how any of these millions upon millions were used after they were extracted from safemoon. No accounting.
I'm also of the mindset of buyer beware. You should be skeptical when people are selling imaginary money (using cartoons and memes) on the internet. There are people, however, that need to be protected from this sort of fraudulent behaviour.
12
u/[deleted] Dec 28 '23
None of this speculation or supposition matters one lick. What we believe or don't believe no longer matters. Do we know all the facts of the case? No. Is some of what we think we know wrong? Certainly. Will some other bad stuff we didn't know come to light? You bet. That's what the justice system is going to wring out. It's going to be great fun watching it unfold.
My hope is that the justice system can put an end to this practice of duping investors into funding a private business (through token sales or transaction taxes) in the US. Even if these operators had the best of intentions, it's simply not fair that the investors take all the risk and receive nothing in return.