SBF Arrested by Bahamian Authorities • Hacker News Board

Re: SBF Arrested by Bahamian Authorities

#201

Post by acdha » Tue, Dec 13, 2022, 12:43 AM UTC

ravel-bar-foo wrote: post #51

object-a wrote: post #8

Inevitable, but a lot of talking heads used the delay after FTX's collapse to sow doubt about corruption, media failure, etc. Feds were probably gathering evidence from Day 1, and the restructuring CEO seems to have found it: https://docs.house.gov/meetings/BA/BA00/20221213/115246/HHRG...

FWIW, most of the presige media (NYTimes, WaPo, WSJ) have been running puff pieces which parrot SBF's claims of ignorance without much if any fact checking or investigation.

Do you have specific examples? All of the organizations you mentioned have covered his companies in very unflattering terms.

Re: SBF Arrested by Bahamian Authorities

#202

Post by siftrics » Tue, Dec 13, 2022, 12:43 AM UTC

Say it with me:

Blockchains mathematically prevent fraudulent misuse of deposits

Yes, on/off ramps are an issue.

Yes, blockchains do not prevent physical threats of violence or profound custodial negligence.

No, SBF would not have been able to defraud millions of depositors on a blockchain where everyone self-custodied.

Re: SBF Arrested by Bahamian Authorities

#203

Post by greenyoda » Tue, Dec 13, 2022, 12:43 AM UTC

ksherlock wrote: post #76

esturk wrote: post #43

Now we'll see if having both parents who are Stanford Law Professors, and possibly many other legal minded connections, will save him from going to jail.

Per today's WSJ article, they're currently in the Bahamas with him. https://www.wsj.com/articles/sam-bankman-frieds-parents-were...

Paywall workaround for the above WSJ article: https://archive.ph/20AU0

Re: SBF Arrested by Bahamian Authorities

#204

Post by spookthesunset » Tue, Dec 13, 2022, 12:44 AM UTC

JumpCrisscross wrote: post #91

SBF's public conduct over the past weeks, and alleged conduct over the past years, reinforces an image of unintelligence. Be it genuine stupidity, stimulants or both, he isn't top-of-the-doghouse material. (Granted, easy to say ex post facto .) The elephants in the room are Binance and Tether, together with certain high-profile investors. Taking some of these out could likely be worth a plea bargain. (For optics, he…

I can’t wait until tether finally implodes. That will absolutely destroy the crypto market.

Re: SBF Arrested by Bahamian Authorities

#205

Post by bogomipz » Tue, Dec 13, 2022, 12:44 AM UTC

ravel-bar-foo wrote: post #51

object-a wrote: post #8

Inevitable, but a lot of talking heads used the delay after FTX's collapse to sow doubt about corruption, media failure, etc. Feds were probably gathering evidence from Day 1, and the restructuring CEO seems to have found it: https://docs.house.gov/meetings/BA/BA00/20221213/115246/HHRG...

FWIW, most of the presige media (NYTimes, WaPo, WSJ) have been running puff pieces which parrot SBF's claims of ignorance without much if any fact checking or investigation.

The Times and Washington Post perhaps but I haven't seen any puff pieces from WSJ about SBF. In fact quite the opposite. The WSJ seems to be decidedly anti-crypto. The most recent piece concerning him before this announcement was titled:

"The Rise and Fall of Respectability":

https://archive.vn/AiEEO#selection-109.5-109.40

Re: SBF Arrested by Bahamian Authorities

#206

Post by object-a » Tue, Dec 13, 2022, 12:44 AM UTC

adasdasdas wrote: post #133

themitigating wrote: post #114

Earlier quoted context omitted.

Can you show an example of one article that is a puff piece?

https://www.nytimes.com/2022/11/14/technology/ftx-sam-bankma...

This article reports on:

- commingling of funds between Alameda and FTX

- conflicts of interest between the two, including SBF's relationship with the CEO

- use of customer deposits to pay off loans for Alameda

- that FTX and SBF are under investigation

Re: SBF Arrested by Bahamian Authorities

#207

Post by dereg » Tue, Dec 13, 2022, 12:44 AM UTC

glenngillen wrote: post #167

tomp wrote: post #145

Earlier quoted context omitted.

Hm... does that mean she gets away scot-free? Not sure that's fair, she seems very complicit.

Wasn’t she only CEO for the last couple of months? The previous CEO seems to have completely dodged any scrutiny in all of this.

Caroline and Sam Trabucco were co-CEOs. He too will face the full scrutiny of the DOJ.

Re: SBF Arrested by Bahamian Authorities

#208

Post by [deleted] » Tue, Dec 13, 2022, 12:45 AM UTC

pclmulqdq wrote: post #189

dereg wrote: post #104

Earlier quoted context omitted.

It's clear Caroline Ellison has turned against him. Stephanie Avakian, former SEC enforcement chief, is representing her in NY. I'm guessing they wouldn't have been able to file charges this quickly without Caroline becoming a cooperating witness.

She is also VERY well connected to the SEC. It wouldn't surprise me if they gave her a sweetheart deal.

[deleted]

Re: SBF Arrested by Bahamian Authorities

#209

Post by xenospn » Tue, Dec 13, 2022, 12:45 AM UTC

ww520 wrote: post #169

misiti3780 wrote: post #6

I guess this means he wont be testifying tomorrow ? https://techcrunch.com/2022/12/12/sbf-scheduled-to-testify-t...

They have teleconference phone in jail. He can still do it.

Have you SEEN how much it costs to make phone calls from jail? he wouldn't be able to afford it, anyway.

Re: SBF Arrested by Bahamian Authorities

#210

Post by zadler » Tue, Dec 13, 2022, 12:47 AM UTC

JumpCrisscross wrote: post #91

SBF's public conduct over the past weeks, and alleged conduct over the past years, reinforces an image of unintelligence. Be it genuine stupidity, stimulants or both, he isn't top-of-the-doghouse material. (Granted, easy to say ex post facto .) The elephants in the room are Binance and Tether, together with certain high-profile investors. Taking some of these out could likely be worth a plea bargain. (For optics, he…

It’s a little bit innocent to think that SBF isn’t intelligent; he’s extremely adept at lying and manipulating. And on top of that, intelligent enough to create a large crypto exchange. It’s his morals and impulses that got him into trouble.