741–750 of 1001 posts
I am as happy as anyone about arrogant half-smart crypto bros being called out as the frauds they are. It is still sad that a young person's life is taken away today. I don't think any type of nonviolent crime should get anyone a life sentence, especially not in a prison system as inhumane as in the US.
https://www.reddit.com/r/Bitcoin/comments/p1oqqu/the_ceo_of_...
I am as happy as anyone about arrogant half-smart crypto bros being called out as the frauds they are. It is still sad that a young person's life is taken away today. I don't think any type of nonviolent crime should get anyone a life sentence, especially not in a prison system as inhumane as in the US.
Earlier quoted context omitted.
I'm going to go out on a limb here and say that the AUSA's performance here was not particularly impressive. Yes, they constructed an airtight case, but to do that, they handed out immunity deals like candy to all of SBF's co-conspirators. Sure, they got their guy, but it almost looks like they wanted to craft a narrative that puts all of the blame on him. Because of that, several other huge fraudsters here (eg Carol…
> several other huge fraudsters here (eg Caroline Ellison) get to walk Caroline Ellison pleaded to two counts of wire fraud, two counts of conspiracy to commit wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering. Looking at the Federal Sentencing Guidelines[1], even accepting for her being a cooperating witness, she's very likely going to…
I liked the article detailing how poorly he did on the stand: https://www.thefp.com/p/humiliating-cross-examination-sam-ba... “Did you say in private, ‘Fuck regulators?’ ” “Did you call some customers ‘dumb motherfuckers?’ ” “Did you fly to the Super Bowl in a private plane?” “Most FTX customers did not have a line of credit, correct?” “Do you deny that Alameda had a $65 billion line of credit?” And on, and on, and o…
> You’d think this MIT graduate would wise up, but he never did I don't think it's lack of wisdom but rather pathological hubris and a God-Complex. I've met kids like SBF at MIT. Very smart but at some point they think the rules don't apply to them. The've never failed before so why would they start now. After all, he was like the youngest billionaire, rich parents, good grades, top schools. Everything has gone his w…
0: https://www.kohlerandhart.com/blog/2023/03/15/how-is-good-be...
Earlier quoted context omitted.
I'm going to go out on a limb here and say that the AUSA's performance here was not particularly impressive. Yes, they constructed an airtight case, but to do that, they handed out immunity deals like candy to all of SBF's co-conspirators. Sure, they got their guy, but it almost looks like they wanted to craft a narrative that puts all of the blame on him. Because of that, several other huge fraudsters here (eg Carol…
I agree, didn't they admit they knew what they were doing? They should all do the same amount of time.
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The defense really had no option. Several of Bankman-Fried's previous defense teams quit on him due to his behavior. Even in this trial, during a session with just the judge, the defense made an objection to a question, the judge sustained it, but Bankman-Fried answered anyways. His own defense team asked him where had he been this entire trial because the objection was sustained, you didn't have to answer that. Bank…
An odd question, but: why is he like this? Even from the start, before the criminal charges, his press tour was so bizarre. Is he just a delusional narcissist who thinks he can talk his way out of anything no matter what? I feel like even very, very long into his prison sentence he's still going to try to talk your head off insisting it was all a big misunderstanding. And he's going to be denied parole because he's g…
Earlier quoted context omitted.
The defense really had no option. Several of Bankman-Fried's previous defense teams quit on him due to his behavior. Even in this trial, during a session with just the judge, the defense made an objection to a question, the judge sustained it, but Bankman-Fried answered anyways. His own defense team asked him where had he been this entire trial because the objection was sustained, you didn't have to answer that. Bank…
Well said. > Several of Bankman-Fried's previous defense teams quit on him I remember SBF told someone at some point during his ill-advised media tour post-collapse, that his lawyers could "go fuck themselves". But I was wondering what happened then with said lawyer... Is there a list somewhere of the teams that quit?
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Sequoia invested $200M in this guy. Has anyone looked at whether SBF could've done as much damage without that investment? Has anyone looked at if Sequoia did their due diligence? Seems like Sequoia could've seen red flags just from knowing Alameda existed. The potential abuse there was completely obvious.
> That’s when SBF told Sequoia about the so-called super-app: “I want FTX to be a place where you can do anything you want with your next dollar. You can buy bitcoin. You can send money in whatever currency to any friend anywhere in the world. You can buy a banana. You can do anything you want with your money from inside FTX.”
> Suddenly, the chat window on Sequoia’s side of the Zoom lights up with partners freaking out.
> “I LOVE THIS FOUNDER,” typed one partner.
> “I am a 10 out of 10,” pinged another.
> “YES!!!” exclaimed a third
Like, he’s rambling about how you should buy bananas with Bitcoin. How was this compelling to people who control serious money?
It always struck me as the opposite. If someone running a crypto futures exchange said they wanted people to buy bananas and groceries on their platform that’s be a signal to pass, right?