- Ripple CTO says crimes are often settled by trading money for silence.
- FTX offered whistleblower $5M million to keep quiet about preferential treatment of Alameda.
- FTX code gave Alameda special privileges, including a $65 billion negative balance.
In response to the recent reports concerning the alleged misconduct of the bankrupt FTX crypto exchange, Ripple Chief Technology Officer David Schwartz has weighed in. Schwartz argued that financial matters that could potentially be prosecuted as crimes are often resolved by exchanging money for silence.
The Ripple CTO’s comment followed a tweet from one X user, Nicholas Kaknes, who questioned the ethical implications of accepting a $5 million payment to remain silent, suggesting that such an action could make one complicit in any wrongdoing.
“Many accusations of things that could be prosecuted as crimes are lawfully settled by trading money for silence,” Schwartz remarked.
Many accusations of things that could be prosecuted as crimes are lawfully settled by trading money for silence.— David "JoelKatz" Schwartz (@JoelKatz) October 7, 2023
Notably, these comments follow a report from a Wall Street J…
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