This is a strange world we live in, and once again it is confirmed that money can buy everything, even reputation. I would forbid such people for life to engage in any trade (except to sell potatoes and the like), but the system is obviously designed to benefit just such people.

Yes a really weird charitable foundation, it seems to have been set up just to avoid capital gains taxes. Wealthy people have top lawyers, and they know how to find every hole in the law and that’s nothing new - those who have the most money generally find a way to pay the least taxes.

Given that trillions have become something that is literally scattered everywhere, it seems that one such incident has not disturbed the global market in the slightest - the situation in the world seems to be very favorable if $20 billion does not mean much.

I would not bet that this is the end for Hwang, such people do not give up - if not in the US, he will find himself a new destination again.

Youtube recommendations algorithm at its best, this thing appeared on my front page in the morning:
Deutsche Bank Dodges $4 Billion Archegos Hit
Article here

Later on, I will check zerohedge, the guys there are probably committing seppuku hearing that, DB has been for almost a decade the bank they are praying each day to come crashing down with all those derivatives but somehow it keeps going on and the sum is dwindling each year.

Interesting stuff on the move, but the fact I'm mentioning this here is because people should understand that even in this business there is no permanent agreement between the players, there are no such things as banks on one side and the rest on another one, and they all act in unison. No, there is harsh competition between them, and there are winners and losers like in any other business.

This is very interesting. I actually had no idea about this news but 20 billion is a huge amount. I do think it did bring a dip in the overall economy and at the same time fine ? I do think it should be understood that Fine won't work in these cases, the same situation will arise again. This does show us that Bitcoins is way more stronger now as compared to years before and thus it has its on circle and therefore these highs and lows did not affect it. Which is great since am always worried about the interconnection of the economy and bitcoins.

-Making them pay fines won't do a thing. This matter should be investigated thoroughly and at the same time the judicial system should decide a different route. Plus I do think that it was a systematic strategy which was well though by not one but many companies at the same time. That's how they play. I am extremely interested what the further investigation will find.

Bitcoin is an alternative, but it is not immune to what is happening in a markets like Wall Street, because as you yourself say everything they lose, ordinary people end up paying for it - which means they gamble and know very well that they can never lose actually. Let's call it a problem or whatever someone wants, but the guys from WS have already started gambling seriously with BTC, and we know that they don't give up on anything when it comes to profit - so we should always follow what's going on in their backyard. There is an old saying that says "know your friend, your enemy even better".

---

One article that gives a little more detailed insight into how the whole situation developed -> Timeline - Diary of a meltdown: how the Archegos Capital fire sale went down

He donated stocks if he would have sold those stocks and donated to the charity he would have had to pay capital gains, and he would have got a deduction only on the amount he donated after taxation, but donating the stock directly the value is not affected by capital gains so he gets the full deduction for the entire value of the stocks at current value.
It's so common now nobody really is surprised about those numbers, we've seen hundreds of millions donated this way to charities, 20 million seem like peanuts
How Tech Billionaires Hack Their Taxes With a Philanthropic Loophole

I've said it a lot of times if you allow some exceptions from taxation if you allow deductions if you allow any kind of way so that somebody would pay less you can be sure there will be more billionaires and millionaires exploiting this than the people for who this was meant, and trying to regulate it will just turn it into a whack-a-mole game as it usually does.

Well it's quite good that the management decided not to dabble with cryptocurrencies, because if so we are generally fucked. Although we cannot deny that bitcoin has its ties with the outside market, even at times the Wall Street. So we may have dodged a bullet right now, but we can never tell what's in store for us in the future. The world of stocks and money is a very complex field with things that are more than what meets the eye. It is best if we could gain more info by researching so we can forever ensure the value of our assets. Be it crypto or stock/bonds.