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Sam Bankman-Fried tries to explain himself

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Re: Sam Bankman-Fried tries to explain himself

#61

Post by arcticbull »

monero-xmr wrote: post #22

A programmer who helped create Tornado Cash rots in a Dutch jail cell (not charged, might I add) while SBF, Do Kwan, Elizabeth Holmes, and Trevor Milton still remain free. SBF is actually in a $30 million penthouse playing League of Legends. Clown world

They should all be in prison bud and they’ll get their turn - the wheels of justice grind slow but they grind exceedingly fine. To avoid bringing them in without a charge yet, which is one of your main objections, the authorities are preparing their cases before arrest. And coordinating with many different parties, governments and police forces can take a long time.

There’s no one “international police” and each nation has to coordinate - and acts at its own cadence.

Re: Sam Bankman-Fried tries to explain himself

#63

Post by leesalminen »

jeffbee wrote: post #45
cliftonk wrote: post #26

to be clear: - he lent his own hedge fund $8b collateralized by tokens he controlled issuance of (FTT, SRM, MAPS, OXY). At full size, the liquidation price of these tokens was 0 (he also purchased billions worth of FTT off the market when he could print them himself for free?). - Sensing alameda was insolvent and customer funds were misappropriated, customers withdrew until they ran out of liquidity. - Withdrawals we…

You kind of went off the rails there in the final sentence. Are you saying that any of this adds credence to the silly idea that Democrats are beholden to SBF campaign money?

It’s a silly idea that being the second largest donor to a political party in the US buys you special favors? Why else would anyone give that kind of money to politicians without expecting something in return?

Re: Sam Bankman-Fried tries to explain himself

#64

Post by Beltalowda »

nailer wrote: post #37
delusional wrote: post #33

Earlier quoted context omitted.

I'd rather have an FTX scandal than Tornado Cash. I'd rather someone does some fraud than actual funneling of money to terrorists, druglords, gangs, and other problematic organizations.

Tornado Cash is private banking. The writer of the code did nothing wrong by writing it.

He wasn't arrested for "writing the code", but for direct involvements (and making large sums of profit) for money laundering. Whether he is guilty of that: we'll see what comes up in the trail, but he certainly wasn't arrested "for writing code".

Re: Sam Bankman-Fried tries to explain himself

#65

Post by Animats »

cliftonk wrote: post #26

to be clear: - he lent his own hedge fund $8b collateralized by tokens he controlled issuance of (FTT, SRM, MAPS, OXY). At full size, the liquidation price of these tokens was 0 (he also purchased billions worth of FTT off the market when he could print them himself for free?). - Sensing alameda was insolvent and customer funds were misappropriated, customers withdrew until they ran out of liquidity. - Withdrawals we…

> still not been arrested

"Under supervision".[1] Rumors that he planned to escape to Dubai. But Dubai signed an extradition treaty with the US a few months back.

Extradition to the US may be pending.[2]

This is the sort of situation where, if there is an arrest, the perp gets held as a flight risk.

[1] https://cointelegraph.com/news/sam-bankman-fried-is-under-su...

[2] https://www.dailymail.co.uk/news/article-11433541/FBI-planni...

Re: Sam Bankman-Fried tries to explain himself

#67

Post by twicetwice »

nabogh wrote: post #27
curiousgal wrote: post #18

Earlier quoted context omitted.

I am 30 years old and I am laughing at anyone who has trusted these kids with anything. His balance sheet shows just how childish and out of depth he and his possie of "execs" are.

Just looked it up. SBF is 30?

Yup, he founded Alameda Research in 2017 at age 25 and FTX in 2019 at 27.

Re: Sam Bankman-Fried tries to explain himself

#68

Post by marricks »

wollsmoth wrote: post #36
monero-xmr wrote: post #22

A programmer who helped create Tornado Cash rots in a Dutch jail cell (not charged, might I add) while SBF, Do Kwan, Elizabeth Holmes, and Trevor Milton still remain free. SBF is actually in a $30 million penthouse playing League of Legends. Clown world

Holmes is getting sentenced this week. It took years to get there. This isn't going to happen overnight.

> This isn't going to happen overnight

What isn't going to happen overnight, justice? A fairer world?

I don't think a fairer world is on its way, I wish it was but the powerful won't be held accountable because people simply don't have the power to hold them accountable. We simply don't live in a just world.

Re: Sam Bankman-Fried tries to explain himself

#69

Post by majormajor »

cliftonk wrote: post #26

to be clear: - he lent his own hedge fund $8b collateralized by tokens he controlled issuance of (FTT, SRM, MAPS, OXY). At full size, the liquidation price of these tokens was 0 (he also purchased billions worth of FTT off the market when he could print them himself for free?). - Sensing alameda was insolvent and customer funds were misappropriated, customers withdrew until they ran out of liquidity. - Withdrawals we…

Just to be clear, where do you think he is and who do you think would be arresting him if not avoiding it for what reasons?

Re: Sam Bankman-Fried tries to explain himself

#70

Post by TremendousJudge »

s_dev wrote: post #34
thundergolfer wrote: post #12

Earlier quoted context omitted.

Yeah after the NYT interview I'm a bit shocked at how bad these messages look. He looks stupid, brazen, delusional, and lacking in compassion. If his texts are normally similar to this, how did anyone serious think this guy was brilliant?

Maybe I'm out of the loop but I'd never heard of him til the FTX implosion.

I had, once, in a HN comment a couple of months ago. It said that he was lobbying on some political race, which is something he was doing because he believed in "Effective Altruism". This was presented as a good thing, as though billionaires giving money to politicians was a novel idea. I guess this is the type of person who found him worthy of mention.
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