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Earlier quoted context omitted.
Which bail bond company came up with the other $225M?
Frustratingly, if you personally post bail, typically you have to post the full amount (this might depend on the state). But bail bonds companies typically only post 10% of the amount.
Wait. Only a few days ago he declared he had less than 100k on his bank account and now he forks out 250m? It's hard to believe anything else he said.
His parents had to put up their home for the bond.
Notably, he is going to make a plea deal:
“Mr. Bankman-Fried at a later date will enter a plea on charges that he engaged in fraud and other offenses, the judge said.”
If he is doing a deal with prosecutors, you have to wonder what he is getting in return?
I feel sorry for his parents - legal fees is going to financially wipe them out and any plans for retirement. I'd rather stick to my mediocre returns of my money market accounts than this crypto forex NFT nonsense.
They're free to let him take a plea deal and go to prison
I feel sorry for his parents - legal fees is going to financially wipe them out and any plans for retirement. I'd rather stick to my mediocre returns of my money market accounts than this crypto forex NFT nonsense.
How can you feel sorry for them? They're professors of LAW at Stanford. And this white-collar crime was being committed right under their noses. Pynchon would have had trouble coming up with a plot this wacky.
Did people actually listen to him whenever he spoke - whenever did any of his BS make any financial sense ???.
Also covered on WSJ ( https://www.wsj.com/articles/sam-bankman-fried-to-make-first... ) Notably, he is going to make a plea deal: “Mr. Bankman-Fried at a later date will enter a plea on charges that he engaged in fraud and other offenses, the judge said.” If he is doing a deal with prosecutors, you have to wonder what he is getting in return?
Quote:
> In 2018, during a meeting at the Delphi Economic Forum, I asked the MEP how we could explain the complex blockchain technology and explain its potential, so that the ordinary citizen and small and medium-sized enterprises - as she claimed - can benefit from decentralised financing.
> "People don't necessarily need to understand them", Eva Kaili had replied with a smile, after a sharp pause and a brief elaboration. "Cryptocurrencies are a bit like weather - you can enjoy their benefits without knowing in detail the process behind them."
Well. I feel that we are barely scratching the surface with "Qatargate". I'm so glad to have exited crypto years ago. The space is filled with get-rich-quick people, apparently they don't even understand how blockchain works.
[1] https://en.wikipedia.org/wiki/Qatar_corruption_scandal_at_th...
[2] https://www.lifo.gr/stiles/optiki-gonia/i-kaili-kai-lompi-to...
> The bond was secured by equity in his family home, and by the signatures of his parents and two other individuals with “considerable” assets. Who are these unnamed individuals, and what is their interest in this?