David Vance

<ul class="news-points">
 <li><strong>Ripple CTO says crimes are often settled by trading money for silence.</strong></li>
 <li><strong>FTX offered whistleblower $5M million to keep quiet about preferential treatment of Alameda.</strong></li>
 <li><strong>FTX code gave Alameda special privileges, including a $65 billion negative balance.</strong></li>
</ul>
<p>In response to the recent reports concerning the alleged <a href="https://coinedition.com/sbf-lieutenant-testifies-on-ftx-fabricated-insurance-fund-balance/" rel="noopener noreferrer nofollow">misconduct of the bankrupt FTX crypto exchange</a>, 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.&nbsp;</p>
<p>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.</p>
<p>“Many accusations of things that could be prosecuted as crimes are lawfully settled by trading money for silence,” Schwartz remarked.</p>
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   <p lang="en" dir="ltr">Many accusations of things that could be prosecuted as crimes are lawfully settled by trading money for silence.</p>— David "JoelKatz" Schwartz (@JoelKatz) <a href="https://twitter.com/JoelKatz/status/1710531557264703581?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 7, 2023</a>
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<p>Notably, these comments follow a report from a Wall Street J…</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/ripple-cto-weighs-in-on-ftxs-5m-money-for-silence-scandal/">Ripple CTO Weighs In on FTX’s $5M “Money for Silence” Scandal</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Ripple CTO Weighs In on FTX’s $5M “Money for Silence” Scandal

Coin Edition

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