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New York sues crypto firms for losing over $1 billion (www.theverge.com)
submitted 2 years ago by to c/technology@lemmy.world
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[–] 26 points 2 years ago (2 children)

Its always stories like this that come to mind anytime someone excuses wealth with, "they deserve it because they took the risk". Whenever that risk doesnt go their way, the government bails them out.

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  • [–] 7 points 2 years ago (1 child)

    That's it what the lawsuit is about here. It was the fraudulent misrepresentation of the investments that was illegal.

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  • [–] 0 points 2 years ago (2 children)

    I dont believe for a second anyone thought these werent risky investments.

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  • [–] 2 points 2 years ago

    That's because you and I aren't complete fools. But when you pay a bunch of celebrities to talk about their apes, coins, and other moronic shit on national and international TV, less aware people tend to be duped. It's a confidence scam, after all.

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