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Bankman-Fried used $100M in stolen FTX funds for political donations, US says

reuters.com

161–170 of 179 posts

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#161

Earlier quoted context omitted.

[flagged]

Unsure why this is downvoted, I haven’t seen a shred of evidence for considerable “dark” donations to republicans.

Salame's $24M in donations to Republican causes are on the public record. The government alleges they were directed by SBF, which they'll have to prove, but it's certainly evidence.

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#162
post #89
post #86

Earlier quoted context omitted.

In a call he had with Tiffany Fong that she recorded, he talked about how he donated equally to both of them and that he couldn't care less about the politics, but he hid the republican ones considerably better because he felt the media companies would have hung him out to dry for the republican ones. I can't remember exactly what video it's in, but I very distinctly remember him talking about it. https://www.youtube…

And you believe him because...?

I haven’t reviewed the current version of the indictment in detail, but the earlier version (before the campaign finance charges were removed because of the extradition -related bar, and then inserted in different form as part of the other frauds rather than separate charges) had identified and charged specific distinct chains through which both Republican-affiliated and farhter-left-Democratic donations than SBF’s cultivated centrist Democratic image were channeled, its not just SBFs word on this strategy.

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#163

It's kind of cool that even a $100m political bribe doesn't buy you immunity

You can bribe a corrupt official or politician for a short period. However, unless you can blackmail or continue supporting them, they won't continue to stay bribed. Once FTX went bankrupt they lost their limited immunity to political consequences. They were too clumsy to engage in the sophisticated schemes used by other lobbyists and PACs to ensure that politicians stay "bribed."

If you want to see how a criminal organization can truly become legitimized through corruption of political structures, Uber is a great example. They managed to create a decentralized illegal Taxi company in the most public manner possible.

https://www.theguardian.com/news/2022/jul/10/uber-files-leak...

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#164
post #96

The whole scheme strikes me as … unsophisticated, especially for two math geniuses.

in my experience being good at maths doesn't reliably indicate you're good at anything wildly beyond maths. often some related subjects like programming, but not always

This can be said about anything. It also appears that they were good specifically at competitive math problem solving. Which one can say even more narrow area of math. Nevertheless, it does correlate with general intelligence and they were a able sell a snake oil to a bunch of investors, so some level of competence they did poses. However, just taking customers’ moneys directly and wiring it straight to execs’ bank accounts is just… too simplistic. Good old donation to a little soccer league where a politician’s spouse sits on the board has more logistics to it.

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#165
post #100

Earlier quoted context omitted.

[flagged]

I like that openly funding dems and hidden money funding repubs equals Democratic boogieman. Big brain stuff.

Until they find some of this hidden money, I'll remain skeptical that the donations were in any way balanced across parties.

I don't think it's far-fetched, but it's a pretty convenient claim for Democrats that the other donations are not on the record.

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#166

Earlier quoted context omitted.

[flagged]

>Soros-type supervillain As in, someone who survived the Holocaust and uses his money to promote democracy around the world?

Polanski survived the Holocaust.

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#168
post #14

Earlier quoted context omitted.

He’s hardly in a maximum security prison with that kind of risk of violence, and HN really doesn’t need random conspiracy theories.

The guy you're replying to took the data as he saw it, formed a hypothesis that matched the data, and the hypothesis makes a prediction which can be validated. Is it an unlikely/weak hypothesis? Sure. But you're asking him to just throw away thought/science, to not try to explain the world.

What data did he take? Be precise and especial give attention to the leaps from “SBF is being prosecuted” to “SBF is being setup for assassination”. The only facts are what we already knew: he’s being prosecuted and that after repeatedly violating the terms of a legal agreement he’s getting the consequences he agreed to. That leaves the most likely explanation that the most anodyne explanation is true: an entitled rich man called the judge’s bluff and is learning that federal judges don’t appreciate that.

Everything else is a flight of fancy with no support other than people steeped in right-wing propaganda would really like them to be true. There’s no reason to believe he knows anything damaging to the DNC, that such hypothetical evidence could only come out from his testimony, that it would be worth murder to keep quiet, or that it would be easiest to kill him in prison. Someone dying in government custody would draw a lot of attention – he’s going to Club Fed with other white collar criminals, not the problem wing at a super max facility, and other embezzlers tend not to shank people since they do expect to get out early for good behavior.

If you were a screenwriter, the movie version would have our hypothetical government conspiracy keeping him out of jail so he could more easily be assassinated at home with evidence planted to make it look like someone who lost their fortune with FTX because his parent’s house is a much softer target and there are thousands of people with that motive and none of them are feds. Once you’re just making things up you can easily come up with a chain of make-believe supporting any side imaginable.

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#169

Earlier quoted context omitted.

with regards to the second half of your comment, I suspect this is a belief coloured by your distaste for the political system in general. This is understandable, but not really fair Yes the political donation system is horrendous, and yes both parties are as a result corrupt capitalist lapdogs to corporations and the super rich, but given that the system exists, it's hard to legally blame a party for taking a donati…

I agree that you should not be responsible when the donation is done legally but it appears not only did SBF use stolen funds but also paid illegal donations

Assuming we cannot prove these parties knew the funds were stolen, wouldn’t you be punishing them for something they could not have known was illegal? We may assume that individuals in these parties knew that these donations were not entirely legal (due to the splitting) but can we prove that?

Sure, in the case of parties, they’d be fine, they can pay that kind of money back, but let’s assume you donate to a charity and that charity spends that money on humanitarian aid. Your stolen 100m are now a (pretty nice, big) school in some country far away. Would it be „the right thing“ to make the charity pay that money back? Is that what the law demands? I guess that would make it even harder to run such a thing, since you always have to plan for the case where you might have to pay back donations you received… how long ago?

But then again, political parties and campaigns may need different treatment. And you also somehow want to recover these funds for the people originally owned that money. Rough call to make.

Re: Bankman-Fried used $100M in stolen FTX funds for political donations, US says

#170

Earlier quoted context omitted.

is there any evidence they're actually good at math?

> is there any evidence they're actually good at math? Both went to MIT and Stanford respectively, then went on to be professional traders (Jane Street Capital); now, one wouldn't think that was all because of who their parents were, right? As in this only possible because of their own merit to be sure. That is how this system works, after all! Honestly, I went to private school, and these idiots reminded me of the c…

the rest of that fits with entitled brats, but Jane street surprises me, I had the impression they were fairly meritocratic.
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