Be nice if all those senators returned those political donations now
FTX founder Sam Bankman-Fried to be released on $250M bail
111–120 of 500 posts
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#112Earlier quoted context omitted.
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.
SBF just played along with the sheer insanity of the concept of crypto (nothing can make nothing) and all the fools who gave him money - it seems that common financial sense is not taught to people anymore or is really in short supply these days. Did people actually listen to him whenever he spoke - whenever did any of his BS make any financial sense ???. https://www.youtube.com/watch?v=C6nAxiym9oc
Right, he openly described what he was doing as a ponzi scheme on stage, and everyone just waved it off.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#113Caroline 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.
Sure, but what does that mean in terms of protecting as yet unnamed persons connected to this saga?
This promise to sing for prosecution is presumably not good news for SFB, that is understood. But SEC official names were being dragged into this when it broke via guilt by association. And that connection was via Caroline and her family. Maybe a nothing burger, but maybe there is actually some beef involved. How does this plea agreement affect that potential and alleged connection, in legal theory?
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#114Caroline 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.
[deleted]
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#115David Gerard has the best summary:
‘He was released on bail for a $250 million bond — “the largest ever pretrial bond,” apparently — secured only on his parents’ home in Palo Alto, where he will be living.
’SBF will surrender his passport and remain in home confinement with electronic monitoring — he’ll wear a bracelet. He will also be required to undergo regular mental health evaluation and treatment. No financial transactions over $1,000 except legal fees, no new lines of credit, and he can’t start a business. Also, no firearms.
’That is: Sam lost all his money in crypto, and has moved back into his parents’ basement.’
https://davidgerard.co.uk/blockchain/2022/12/22/ftx-sam-bank...
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#116This dude has friends in high places. No surprise however. He paid for them with other people's money.
There's no cash transfer, someone just has enough assets to guarantee it in case he runs.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#117Be nice if all those senators returned those political donations now
FTX’s bankruptcy management has said they expect to get it all back by legal means if necessary, and it’s no excuse if you donated the money to a charity:
https://www.prnewswire.com/news-releases/ftx-debtors-announc...
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#118I 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.
M representing thousand? The only people who would think that are old school snobby finance guys or bankers from Renaissance Florence.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#119His ex-girlfriend and CEO of Alameda really put the nail in the coffin. Turned on him for 250K$ bail, forfeiture of all assets and basically no prosecution (except some taxes) as long as she co-operates. Probably dropped the entire playbook of Sam and made the case irrefutable and ironclad. https://s3.documentcloud.org/documents/23495436/crypto-coope...
A real-life prisoners' dilemma right there.
Re: FTX founder Sam Bankman-Fried to be released on $250M bail
#120Earlier quoted context omitted.
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.)
Here's the full text of the agreement.[1] Those are the tough conditions you see when a federal prosecutor has a really good case.
[1] https://www.documentcloud.org/documents/23495436-crypto-coop...