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December 13, 2022

🥛Everything you need to know about Samuel’s arrest

GM. This is the Milk Road, the daily newsletter that gives you the good, the bad, and (as of late, a lot of) the ugly. But no matter what, we'll always make you chuckle along the way.

Today, we got some great news though. 

The CPI report is in. 

The result? 7.1%. (0.2% lower than expected)

That's back-to-back positive CPI reports where inflation came in lower than expected. And the markets are 🎵 ba da ba ba ba🎵 lovin' it.

Ethereum is up 6% and Bitcoin is up 4.5%

In other news: 

  • Details on Samuel's arrest

  • Quick Bites

  • Milky Memes

DETAILS ON SAMUEL'S ARREST

It happened. It FINALLY happened.

Samuel Bankman-Fried has been arrested. 

I'm happy to report that Samuel's Media Tour of Lies is officially over.

Done. Finished. Finito. Can I get a hallelujah?!

Here's everything you need to know:

  • Police arrested Samuel in the Bahamas

  • The Attorney General of the Bahamas received notice that the U.S. was filing criminal charges against Samuel and requested he be arrested

  • Those criminal charges include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, money laundering, and vegan fraud (jk on the last one)

  • Samuel will likely be extradited to the U.S.

  • Then this morning the SEC released a separate 28-page complaint against Samuel

  • The charges include defrauding FTX investors & violating securities laws

  • They are demanding trial by jury

  • The CFTC also separately dropped a 40-page complaint (they went Karen Mode) filing charges this morning

  • They are suing Samuel for violating federal commodities laws & demand a trial by jury

  • The CFTC is also seeking orders for Samuel, FTX, and Alameda to pay civil penalties & restitution to customers & investors

  • Samuel's lawyers said he's not testifying in front of Congress today (shocker)

To summarize…

Yesterday – Samuel was playing League of Legends and talking on Twitter Spaces.

Today – he's arrested, and facing charges from the DOJ, SEC, and CFTC.

You know you're in deep sh*t when all the acronyms are after you.

Here are some of the best reactions from Twitter:

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QUICK BITES

South Korean authorities are reporting that Do Kwon is in Serbia. Do Kwon is getting harder to find than Waldo.

BlackRock is launching a new metaverse ETF. It will track the Global Metaverse Index which leverages patent data to identify market leaders, innovators, and specialists in the space.

Chinese police arrested 63 people for laundering $1.7b in crypto.

Arkansas is submitting a proposal to offer cheap Bitcoin mining tariffs in order to recruit more crypto-mining companies.

Avalanche launches Core Mobile, a mobile version of its flagship crypto wallet. It's first launching on Android with plans for iOS support in 2023. 

MILKY MEMES

That's a wrap for today. Stay thirsty & see ya tomorrow! If you want more, be sure to follow our Twitter (@MilkRoadDaily)

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.