June 2024 - cypherpunks@lists.ogf.org

Ozy Trial Gets Heated, Exec Tells Of Lies, Google CEO Pops In
by Gunnar Larson 17 Jun '24

17 Jun '24

Ozy Trial Gets Heated, Exec Tells Of Lies, Google CEO Pops In <https://www.law360.com/legalethics/articles/1848399?nl_pk=153d4a8a-6fb9-4a5…> By Stewart Bishop Courtroom tempers flared, Alphabet and Google CEO Sundar Pichai dropped by and a former Ozy Media executive on Friday told the jury weighing fraud charges against the startup's charismatic founder Carlos Watson of how they nearly conned Buzzfeed into buying the company by faking its financials. Read full article » <https://www.law360.com/legalethics/articles/1848399?nl_pk=153d4a8a-6fb9-4a5…> | Save to favorites » <https://www.law360.com/legalethics/articles/1848399?nl_pk=153d4a8a-6fb9-4a5…>

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MPs' Pension Fund Has Only 1.3% Allocation To UK Assets
by Gunnar Larson 17 Jun '24

17 Jun '24

MPs' Pension Fund Has Only 1.3% Allocation To UK Assets <https://www.law360.co.uk/financial-services-uk/articles/1847926?nl_pk=a94fc…> By Martin Croucher A pension scheme for British members of Parliament has just £10 million ($12.7 million) of its portfolio invested in U.K. equities, experts revealed Friday, despite efforts by the government to push schemes into fueling the national economic recovery. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1847926?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1847926?nl_pk=a94fc…>

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UK Litigation Roundup: Here's What You Missed In London
by Gunnar Larson 17 Jun '24

17 Jun '24

UK Litigation Roundup: Here's What You Missed In London <https://www.law360.co.uk/financial-services-uk/articles/1847976?nl_pk=a94fc…> By Laura Stewart Liberty This past week in London has seen toy company Jellycat hit supermarket Aldi with an intellectual property claim, AIG start proceedings against firefighting foam company Angus International Safety Group, and the Solicitors Regulation Authority file a legal claim against the Post Office amid the ongoing Horizon IT scandal. Here, Law360 looks at these and other new claims in the U.K. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1847976?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1847976?nl_pk=a94fc…>

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Bitcoin 'Inventor' Drops Case Against Software Developers
by Gunnar Larson 17 Jun '24

17 Jun '24

Bitcoin 'Inventor' Drops Case Against Software Developers <https://www.law360.co.uk/financial-services-uk/articles/1847984?nl_pk=a94fc…> By Lucia Osborne-Crowley Lawyers for the man who failed to prove he invented bitcoin told a London court on Friday that he has dropped a case brought by his company against software developers as it also turned on his claim to be the pseudonymous inventor of the virtual currency. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1847984?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1847984?nl_pk=a94fc…>

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Labour Eyes Flexible Financial Regulation To Spur Growth
by Gunnar Larson 17 Jun '24

17 Jun '24

Labour Eyes Flexible Financial Regulation To Spur Growth <https://www.law360.co.uk/financial-services-uk/articles/1848001?nl_pk=a94fc…> By Alex Davidson The Labour Party prioritized financial services growth this week as it eyes Downing Street, suggesting a new era of more flexible regulation to drive technological innovation and competitiveness, regulatory lawyers say. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1848001?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1848001?nl_pk=a94fc…>

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UK Broker Denied Supreme Court Hearing Over Cum Ex Raids
by Gunnar Larson 17 Jun '24

17 Jun '24

UK Broker Denied Supreme Court Hearing Over Cum Ex Raids <https://www.law360.co.uk/financial-services-uk/articles/1847980?nl_pk=a94fc…> By Joanne Faulkner Judges at a London court refused on Friday to allow a brokerage to challenge at the U.K. Supreme Court findings that a raid on its London office during an investigation into tax fraud in 2022 was legal, finding that the "outcome of any appeal would be no different." Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1847980?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1847980?nl_pk=a94fc…>

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Fwd: xNY.io - Bank.org, PBC | Memo #1 - The People?s Republic of China on ESG and D&O Innovation
by Gunnar Larson 16 Jun '24

16 Jun '24

---------- Forwarded message --------- From: Gunnar Larson <g(a)xny.io> Date: Wed, Jun 8, 2022, 2:12 PM Subject: xNY.io - Bank.org, PBC | Memo #1 - The People’s Republic of China on ESG and D&O Innovation To: <Adrienne.Harris(a)dfs.ny.gov> Cc: Weber, Richard (DFS) <Richard.weber(a)dfs.ny.gov>, Weintraub, Cathy (DFS) <Cathy.Weintraub(a)dfs.ny.gov>, Alexi Anania <a(a)xny.io> June 8, 2022 BY ELECTRONIC MAIL Superintendent, Adrienne A. Harris New York State Department of Financial Services One State Street New York, New York 10004 Adrienne.Harris(a)dfs.ny.gov Re: The People’s Republic of China on ESG and D&O Innovation Dear Madam Superintendent: xNY.io - Bank.org, PBC is proud to be under the esteemed oversight of your distinguished office. Today’s memo signals concern of recent ESG and D&O research published by Nanjing Audit University of the People’s Republic of China. The institution is operated under the auspices of the Jiangsu <https://en.wikipedia.org/wiki/Jiangsu> Provincial Government, the National Audit Office of China <https://en.wikipedia.org/wiki/National_Audit_Office_of_China> and the People's Bank of China <https://en.wikipedia.org/wiki/People%27s_Bank_of_China>. Kindly find the attached memo <https://docs.google.com/document/d/1THKGP530wiMOKurCd79mHSFfW6GvCrOJsRzyA_J…> addressed to your honorable attention. Respectfully yours, Gunnar Larson -- *Gunnar Larson * *xNY.io <http://www.xny.io/> - Bank.org <http://bank.org/>, PBC* 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 June 8, 2022 BY ELECTRONIC MAIL Superintendent, Adrienne A. Harris New York State Department of Financial Services One State Street New York, New York 10004 Adrienne.Harris(a)dfs.ny.gov Re: The People’s Republic of China on ESG and D&O Innovation Dear Madam Superintendent: xNY.io - Bank.org, PBC is proud to be under the esteemed oversight of your distinguished office. Today’s memo signals concern of recent ESG and D&O research published by Nanjing Audit University of the People’s Republic of China. The institution is operated under the auspices of the Jiangsu <https://en.wikipedia.org/wiki/Jiangsu> Provincial Government, the National Audit Office of China <https://en.wikipedia.org/wiki/National_Audit_Office_of_China> and the People's Bank of China <https://en.wikipedia.org/wiki/People%27s_Bank_of_China>. xNY.io - Bank.org, PBC is concerned that the Nanjing Audit University and the People’s Bank of China potentially could be mis-representing intent related to ESG and D&O innovation, at the expense of our global enterprise. 1. According to the Council on Forign Relations, China is the world’s top emitter, producing more than a quarter of the world’s annual greenhouse gas emissions, which contribute to climate change. 2. Nanjing Audit University’s “theoretical analysis and hypothesis developments” suggest that the People’s Republic of China is embryonic in the enforcement of ESG and/or D&O mandates. Meanwhile, suggesting Bloomberg as a reputational capital. 3. xNY.io - Bank.org, PBC has collated 37 highlights to Nanjing Audit University’s ESG and D&O research for NY-DFS consideration. As a Bill and Melinda Gates Scholar and Blockchain Scholar holding international law distinction(s) My international graduate research has touched on Western profit of China’s water resources. xNY.io - Bank.org, PBC seeks to protect pure New York State ESG and D&O innovation. Madam Superindnet, we attentively recognize you are the world’s most powerful regulatory leader in this regard. >From this humble perspective, xNY.io - Bank.org, PBC seeks to earn your respect and consideration to explore the New York False Claims Act as a potential channel. xNY.io - Bank.org, PBC hopes New York State welcomes this assessment at the liberty of your honorable office. Respectfully yours, Gunnar Larson | xNY.io <http://www.xny.io> - Bank.org <http://bank.org>, PBC 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 CC: Mr. Richard Webber

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Ripple SEC Law.com Story
by Gunnar Larson 16 Jun '24

16 Jun '24

---------- Forwarded message --------- From: Gunnar Larson <g(a)xny.io> Date: Fri, Jan 21, 2022, 2:52 PM Subject: Ripple SEC Law.com Story To: <pbantz(a)alm.com> Mr. Bantz: My name is Gunnar Larson. I saw your Law.com story related to Ripple and the SEC <https://www.law.com/corpcounsel/2022/01/14/ripple-general-counsel-stu-alder…> . *Perhaps there is some added reporting necessary on your part, as a supplement to your story: * - Would like to learn your perspective on Ripple's customer list by Country: *https://drive.google.com/file/d/1pmz0RF_WvKKE_rRmoG_ksx0OCShmT9Zg/view?usp=drivesdk <https://drive.google.com/file/d/1pmz0RF_WvKKE_rRmoG_ksx0OCShmT9Zg/view?usp=…>* - Note, as of 2020, Ripple's top four customers are Chinese banks - Ripple's General Counsel seems to be talking about both sides of his mouth, related to the SEC. Law.com seems to be supporting this theme with your story The SEC perhaps is not being totally transparent with their Ripple case? The top customers seem to be the focus? What are your thoughts? Thank you, Gunnar -- *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

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Quantum Data Analysis Meets Litigation Finance and Investment
by Gunnar Larson 16 Jun '24

16 Jun '24

Check out my new article: https://litigationfinancejournal.com/quantum-data-analysis-meets-litigation… Quantum Data Analysis Meets Litigation Finance and Investment While engaging quantum computing across the legal spectrum is still in its infancy, litigation funders are increasingly looking to manage financial risk exposure with in-house data analytics systems. A new article pressure tests the most evident matters concerning quantum data and litigation finance. Mondaq reports <https://www.mondaq.com/unitedstates/trials--appeals--compensation/1433812/t…> on how litigation financiers are integrating algorithmic data tools into their decision making. With the potential of billions of dollars in proceeds, it is important to understand the impact of data architecture through self inventory, extraction and analysis. Spotting holes in data systems is essential, and should be encouraged to promote a nimble innovation strategy within an organization. Current popular uses of data analysis in litigation finance include quantifiable forecasts of economic harm caused by defendant actions, and contemplation of settlement proposals. Devising solutions to mitigate data disasters is also a prime concern for third party funding. For example, some litigation funders are compiling “data literacy” manuals to increase and enhance engagement between colleagues. The future of quantum data analysis in litigation finance will belong to those who conceptualize systems that maximize ROI and improve operational efficiencies. Follow us on social media - [image: Twitter] <https://twitter.com/LitigationJ> - [image: LinkedIn] <https://www.linkedin.com/company/litigation-finance-journal/> View all posts by <https://litigationfinancejournal.com/author/jkfreund2000gmail-com/>Gunnar Larson <https://litigationfinancejournal.com/byline/gunnar-larson/>

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This Is Where Bankrupt FTX’s Money Went: $74 Million for Caribbean Real Estate; $59 Million to Politicians; Tens of Millions to Big Law, Celebrity Endorsements…
by Gunnar Larson 16 Jun '24

16 Jun '24

https://wallstreetonparade.com/2022/11/this-is-where-bankrupt-ftxs-money-we… By Pam Martens and Russ Martens: November 15, 2022 ~ FTX Penthouse in the Bahamas FTX Penthouse in the Bahamas The executives running the bankrupt crypto exchange, FTX, may have broken speed records for how fast they could spend other people’s money. They just weren’t any good at managing it on behalf of their investors or safeguarding it for their crypto exchange customers. Sam Bankman-Fried, CEO of FTX, lived in a 12,000 square foot, five-bedroom luxury penthouse overlooking the Atlantic Ocean in a prestigious resort in the Bahamas, which was put up for sale for $39.5 million the same day FTX filed for bankruptcy, according to reporting at the U.K. news outlet, The Guardian. The Block reports that an FTX-related entity called FTX Property Holdings “spent $74,230,193 on property in the Bahamas over 2022. The bulk of that money, $67,440,193.99, went to entities surrounding Albany Bahamas, a luxury condo resort in New Providence.” According to data at the Federal Election Commission, Bankman-Fried sluiced $36 million on the campaign coffers of Democrats during the latest campaign cycle. Ryan Salame, the Co-CEO of FTX Digital Markets, the Bahamian subsidiary of FTX, dumped $23 million into the campaign coffers of Republicans and a Super PAC he created to support them, American Dream Federal Action. Ryan Salame, Co-CEO, FTX Digital Markets Ryan Salame, Co-CEO, FTX Digital Markets Salame has also been on a buying spree in Lenox, Massachusetts, spending more than $5 million on restaurants and commercial buildings. Salame was operating the restaurants under the brand name of Lenox Eats, but that website appears to have been disabled in recent days. Fortunately, we located a web cache which provides details on Salame’s buying binge in Lenox. (Salame grew up in nearby Sandisfield, Massachusetts.) Making the financial shenanigans at FTX that brought on its downfall all the more curious, Salame’s official bio states that he holds a CPA and “a Masters in Finance from Georgetown University,” and that he “worked for Ernst & Young, one of the largest and most respected global accounting firms.” Another $20 million outflow from FTX went into an ad and marketing campaign with celebrity endorsers Tom Brady, the football icon, and his then wife, model Gisele Bündchen. Then there was the $135 million that went to grab the naming rights to the stadium where the Miami Heat play, which was renamed the FTX Arena. Millions more went to secure endorsements from other sports celebrities, including Shaquille O’Neal; Trevor Lawrence; David Ortiz and Udonis Haslem. Millions of dollars also went to pay the hefty legal fees charged by one of Wall Street’s go-to law firms, Sullivan & Cromwell. As we reported on Sunday, Sullivan & Cromwell was involved in crypto acquisitions made by FTX and its sister companies, which also cost tens of millions of dollars. According to OpenSecrets.org, FTX.US spent $690,000 between 2021 and 2022 on more than a dozen lobbyists hired to lobby members of Congress. Lobbying firms hired included Conaway Graves Group, Empire Consulting, Rich Feuer Anderson, and T Cap Solutions. There have also been media reports, which Wall Street On Parade has not been able to independently verify, that Bankman-Fried (or FTX) owned a Gulfstream G450. According to Aircraft Bluebook’s 2022 data, a used Gulfstream G450 costs between $9 million for a 2005 model and $21.5 million for a 2017 model. The G450 is no longer manufactured. If you add in FTX staff salaries and bonuses, along with pilots, housekeepers and expense accounts, it’s not difficult to see how FTX blew through its investors $1.8 billion and then moved on to its customers’ funds.

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