🚩 While we are talking about the 1MDB fraud and Tim Leissner, don't forget Cross River Bank being the beneficiary of this whole scandal.
This is the same bank which hosts countless shady crypto clients on their roster and has been slapped by the FDIC with a consent order.
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“Ex-Goldman Sachs Star Banker Leissner Goes to Prison in 1MDB Fraud”
“Former Goldman Sachs Group Inc. banker Tim Leissner reported to federal prison to begin serving a two-year sentence for one of the largest financial frauds in history.
Leissner surrendered himself Friday at a

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Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another crash, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Bitwise CIO Jeff Park offers a new analytical framework from the perspective of options and hedging mechanisms.
...

The Black Swan Event Was Actually This: The Real Reason for the Recent Bitcoin Crash

Renowned crypto investor Jack Yi used Aave revolving lending to build a $2 billion ETH position, only to see it crumble during the market crash [...]
The article, "Yi Lihua Completely Sells Off ETH! Trend Research Sells 650,000 Ethereum in a Week, Losing $730 Million," was originally published on BlockTempo, the most influential blockchain ABMedia media.

Yi Lihua completely liquidated his ETH holdings! Trend Research reportedly sold 650,000 Ethereum in a week, incurring a loss of $730 million before exiting the market.

Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]

This whole thread 🧵 linked below 👇 talks at length about the 1MDB fraud and various international crime families and business which were involved in the operation.
It is fascinating reading by @Cryptadamist and @ImDrinknWyn.
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A two-year sentence sentence for Tim Leissner of the 1MDB fraud is a miscarriage of justice given the enormity of his crimes.
He should have been locked up for much longer.
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