Joseph Bankman's Ultimate Bet

The Read 9.18.23. Also, Binance in Contempt and Jim Bakker's Godly Grift

Sep 18, 2023

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Good Morning and Happy Monday. As I mentioned last week, we’re shifting to a Monday/Thursday schedule. You’ll note this is not getting to you particularly *early*, and that might improve and might not. The goal of this newsletter is not to offer the fastest insights into everything going on around you - only the best insights.

In today’s roundup:

Steps forward in the SEC’s campaign to bring down Binance
Sam Bankman-Fried’s parents
Fraud History: Jim Bakker and the Heritage USA scam

Binance Hearing Today

Today at 3pm Eastern, Binance and the SEC will square off in a hearing that could lead to a contempt of court charge. As summarized by former regulator John Reed Stark, the SEC claims that Binance (or more precisely U.S. holding companies BAM Trading and BAM Management) is witholding information from discovery in its ongoing securities/fraud case.

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