Didn't he say in an interview that he had "nothing left but a credit card with 100k debt"?
FTX founder Sam Bankman-Fried to be released on $250M bail
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Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#102Earlier quoted context omitted.
It would matter if they were willing to lose the money to avoid a trial, for starters.
Fair point. Any idea if judges typically consider such things in this kind of case?
Bonds agencies do. The term is "flight risk".
https://www.allcitybailbonds.com/2015/10/what-makes-someone-...>
A 2007 NYT article describes particulars within the context of one case. In part:
To hear Ms. Weinstock tell it, Ms. Chanla was the ultimate flight risk. She was foreign born, and lacked ties to New York. She swapped identities like a chameleon, using at least two different names, the prosecutor said.
A week ago, detectives with a New York arrest warrant knocked on the door of “her Los Angeles home,” the prosecutor said, and found her parents, who “claimed they had no way of getting in touch with her.”
https://www.nytimes.com/2007/07/04/nyregion/04bail.html>
SBF is an American citizen with two parents in high-reputation, reasonably high-profile professional positions (at Stanford University), by contrast.
(I've no opinion one way or the other whether or not he should be free on bail.)
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#103Compared to $8 billion missing funds, the bail is a slap on the wrist. I wouldn't be surprised if he disappears.
Bail isn't a punishment but a guarantee for future appearance.
(Edited for clarity.)
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#104I wish we, as a society, could decide whether M is thousand or million and then only use it to represent that one concept. From the headline I initially assumed his bail was only $250,000 and I don’t think I’m the only one in this thread to have made that mistake.
I'm pretty sure you are. I've never seen M being used for thousand.
M is also used for thousand in adtech - cpm is a cost per millie or cost per thousand.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#105Caroline Ellison appears to be flying under the radar here. Granted she kept her mouth shut but what's keeping others uninterested here? Also any informed opinion regarding her plea deal: Generous, not-generous, unusual, routine? ianal but 110 years to 0 years seems pretty sweet. Also didn't note any agreement to forever stay away from other people's money (since she agreed that she "is in fact guilty" [of conspiracy…
She's almost definitely working with the prosecution in exchange for a deal. That's been the rumour for weeks.
Which is specifically what the Coindesk article discusses.
(Note that it's a description of the agreement, rather than the full text of it directly.)
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#106Compared to $8 billion missing funds, the bail is a slap on the wrist. I wouldn't be surprised if he disappears.
This doesn't make sense in my opinion. He basically waived the extradition process in the Bahamas. It is very likely doing that provides the court assurance he won't run. He could have very likely fought it for years there. Not fighting the extradition process and then going on the run doesn't make any sense to me.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#107Compared to $8 billion missing funds, the bail is a slap on the wrist. I wouldn't be surprised if he disappears.
Bail is not intended to be punitive, so it is not intended to be a slap on the wrist.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#108Earlier quoted context omitted.
When does M mean thousand? I've never seen that. K means thousand.
M means milli in Latin, as in thousand (kilo comes from Greek). Millennium, millipede (thousand legs), and so on. Million just means a thousand thousands. That is why in most financial institutions, M means thousand, and MM means millions, literally thousand thousands.
Do they use MMM for billions and MMMM for trillions?
k, M, B, T, Q seem like easier to read suffixes as opposed to having to count the number of “M”s.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#109Wait. 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 used their house as collateral.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#110What's the over under on the number of days before he's Epsteined?