Don't 推定する／予想する sympathy when the crypto 泡 bursts - and it will, says ALEX BRUMMER
When it comes to 財政上の 司法（官）, no 悪党／犯人 wants to find themselves before an American 裁判官.
As the 後見人s of 解放する／自由な market capitalism, the 法廷，裁判所s in the US regard white-collar 罪，犯罪 with the same solemnity as other misdemeanours and 宣告，判決 厳しく.
FTX’s youthful 創立者 Sam Bankman-Fried finds himself up there in the pantheon of 広大な／多数の／重要な US fraudsters, along with Bernie Ebbers, the 長，指導者 (n)役員／(a)執行力のある of Worldcom and Dennis Kozlowski of Tyco, both of whom received 25-year 宣告，判決s.
Only the late Bernie Madoff, 宣告，判決d to an astonishing 150 years, received a greater stretch.?
Crypto 泡: Bitcoin reached a new 頂点（に達する） price of $71,419 earlier this month (MARCH) almost 二塁打ing from its price in July 2021.
The 大破壊／大虐殺 生存者, writer and Nobel prize 勝利者 Elie Wiesel, who was の中で Madoff’s 犠牲者s, said at the time the greatest 罰 for Madoff would be to sit in his 独房 with a perpe tual relay of pictures of his 犠牲者s.
Maybe Bankman-Fried should be 供給するd a 類似の 罰.
The difference is that in the shadowy, mysterious world of cryptocurrency, there is so much anonymity that no one really knows who they are 取引，協定ing with.?
That is why bitcoin and other cryptos are the favoured means of 交流 of テロリスト groups 含むing Hamas and Isis.
It took the events of October 7 in イスラエル to galvanise the US 司法省 and the Israeli 当局 into の近くにing 負かす／撃墜する crypto wallets.
In 新規加入 to his 25-year 宣告，判決 Bankman-Fried has a world-class 法案 to settle. 裁判官 吊りくさび Kaplan 課すd $11billion (£8.6billion) of 財政上の 刑罰，罰則s.
That places the $355million (£277million) civil 罰金 徴収するd on Donald Trump, for inflating the value of his 資産s to 得る 貸付金s from his 銀行業者s, in 視野.
裁判官 Kaplan was unimpressed with Bankman-Fried’s （人命などを）奪う，主張するs that FTX 顧客s and creditors would be paid in 十分な.?
He compared the mop-haired millennial to a どろぼう who takes his 略奪する to Las Vegas, 首尾よく bets the stolen cash, and then asks for an easier 宣告，判決 because he might be able to use his 賭事ing winnings to 支払う／賃金 支援する 犠牲者s.
Bankman-Fried enjoyed a lavish lifestyle in the Caribbean, was 法廷，裁判所d by 長，率いるs of 明言する／公表する and gave enormous sums to Democratic 候補者s. He 公約するd to use his wealth to better humanity.
Other 罪人／有罪を宣告するd cheats, such as the insider 仲買人 Ivan Boesky (whose 裁判，公判 I covered in 1987) tried the same 手段, giving tens of millions away to universities.
When he was sent 負かす／撃墜する for five years, his 指名する was torn 負かす／撃墜する from the endowed buildings.
What is most troubling about Bankman-Fried and the skulduggery 暴露するd at Binance, resulting in a $4billion (£3.15million) 罰金 for boss Changpeng Zhao, is the 欠如（する） of discipline it has brought to Wild West crypto markets.
やめる the opposite. Bitcoin reached a new 頂点（に達する） of $71,419 this month, almost 二塁打ing from its price in July 2021.
The 気が進まない 決定／判定勝ち（する） of the US regulator, the 安全s and 交流 （売買）手数料，委託（する）／委員会／権限, to authorise 交流 貿易（する）d 基金s (ETFs) 持つ／拘留するing crypto gave a 賃貸し（する） of life to an 資産 class favoured by crooks, テロリストs and uninitiated 相場師s.
Their holdings have transmogrified into 広大な／多数の／重要な wealth. It is unbelievable that 財政上の markets, there to 供給する 資本／首都 and liquidity to respectable 貿易（する）d companies, should 許す interlopers.
There is no question that 結局, when central banks get their 行為／法令／行動する together, 政府-支援するd 数字表示式の 通貨 will become a factor. It may even change the architecture of banking as we know it.
No one should begin to think that bitcoin and its ilk have any intrinsic value.
The 過程 of 採掘 and 創造 are shrouded in fantasy. The algorithms used to create them 消費する 広大な 量s of energy in a world where 投資 is often 裁判官d on 気候 change values.
As the Bankman-Fried 事例／患者 shows, unregulated crypto 資産s, run from sun-drenched 沖合いの／海外の islands, are an 招待 to fraudulent behaviour.
Fortunes may have been made by those with the good sense to sell on the way up and 移転 winnings into fiat 通貨s.
No one should 推定する／予想する sympathy or 補償（金） when the crypto 泡 bursts… as it surely will.
