Cryptocurrency mogul Sam Bankman-Fried’s arrest in December revealed the extent of the financial secrecy of tax havens in the crypto industry. From Three Arrows Capital’s $50 million yacht in the British Virgin Islands to FTX’s convoluted web of entities across the globe, the FTX debacle may take a decade to clean up. With many entities registered in low-to-no-tax secrecy jurisdictions, Bankman-Fried, who faces up to 115 years in prison if convicted, must now face the consequences of his actions. Read full article here
Culture
The Priest in the Arena
The phrase “man in the arena” has been popularized in recent years, but a lesser known, more dangerous archetype is the “priest in the arena”. This figure is responsible for a process called theocratic capture, where an institution surrenders to a cult demanding unaccountable authority, fueled by claims to privileged knowledge. These cults often target powerful institutions and attempt to monopolize conversations with scaremongering tactics and hostile treatment of allies. It is important to identify and stop theocratic capture before it can gain control. Read full article here
Merv
May 29, 2023
