FTX founder Sam Bankman-Fried to be released on $250M bail

Post by nprateem » Thu, Dec 22, 2022, 9:41 PM UTC

pavlov wrote: post #115

David 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 t…

Post by low_tech_love » Thu, Dec 22, 2022, 9:42 PM UTC

pessimizer wrote: post #36

pearjuice wrote: post #7

His 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...

It's good that she did, because he played her for a sucker. He routed that entire massive fraud, which she may have barely understood (we'll see), through her as the CEO of a fake company whose only purpose was to embezzle deposits from FTX customers.

Post by low_tech_love » Thu, Dec 22, 2022, 9:43 PM UTC

pearjuice wrote: post #7

His 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...

Post by jasonhansel » Thu, Dec 22, 2022, 9:45 PM UTC

low_tech_love wrote: post #125

I wonder if this whole thing counts as “effective altruism”? Maybe he is effective at scaring other crypto “adventurers” (i.e. people who like to play with other people’s money as if they were in the wild west) and the number and size of scams diminishes in the future? That’d be a good badge to have on his boy-scout t-shirt (or whatever boy-scouts use).

Post by parenthesis » Thu, Dec 22, 2022, 9:45 PM UTC

elliekelly wrote: post #32

I 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.