FTX/Sam Bankman-Fried

[Carl_Manchester]

It's a good lesson for the youngsters out there.

[mids]

Another interesting read about how slack FTX were....

https://twitter.com/adlay_eth/status/1601800521798...

[KaraK]

jshell said:

$40,000,000 can buy some goodwill after all...

Turns out it wasn't just political good will Bankman-Fried was buying.

But y'know.. he was just a bumbling incompetent who had no idea that what he was doing was wrong, or even that he was doing it at all.

[jshell]

KaraK said:

jshell said:

$40,000,000 can buy some goodwill after all...

Turns out it wasn't just political good will Bankman-Fried was buying.

But y'know.. he was just a bumbling incompetent who had no idea that what he was doing was wrong, or even that he was doing it at all.

Good link. As time goes on we'll see that FTX was being used for all sorts of nefarious transactions and machinations by a lot of people who have got very rich out of this

[skwdenyer]

jshell said:

Good link. As time goes on we'll see that FTX was being used for all sorts of nefarious transactions and machinations by a lot of people who have got very rich out of this

And that’s the lesson. If you want to get rich, create an environment that allows others to get rich too - it motivates them to help you.

[jshell]

skwdenyer said:

jshell said:

Good link. As time goes on we'll see that FTX was being used for all sorts of nefarious transactions and machinations by a lot of people who have got very rich out of this

And that’s the lesson. If you want to get rich, create an environment that allows others to get rich too - it motivates them to help you.

100%. Hopefully we'll eventually see who was involved...but then, Ghislaine Maxwell was actually jailed for trafficking no-one to no-one.

[Previous]

Carl_Manchester said:

It's a good lesson for the youngsters out there.

If you're going to be a criminal, think big. Buy your way out of trouble.

[andy_s]

Rumour/Radio Baghdad has it that he’s been tugged by the fuzz in Albany and his apartment is a ‘crime scene’ - I’ll delete if not verified in the mainstream by morning.

ETA: confirmed: https://twitter.com/sdnynews/status/16024513959108...

Edited by andy_s on Tuesday 13th December 00:00

[easytiger123]

SBF arrested in Bahamas "ahead of US criminal charges"

https://www.ft.com/content/2068b928-cc17-485c-890c...

[bitchstewie]

Seems overdue.

[jshell]

easytiger123 said:

SBF arrested in Bahamas "ahead of US criminal charges"

https://www.ft.com/content/2068b928-cc17-485c-890c...

https://archive.ph/Uh5oO

[bitchstewie]

Oops.

US charges Sam Bankman-Fried with defrauding investors

[FourWheelDrift]

I hope they get Maxine Waters in the dock too - https://twitter.com/hrkbenowen/status/160136623870...

[bitchstewie]

She'll be posting his bail bond

[jshell]

Arrested the very day before he's due to testify to Congress?

[bitchstewie]

Some pretty awesome/hilarious stuff from the legal paperwork here.

https://twitter.com/BeckyQuick?s=20&t=UoFv3BO9...

[WindyCommon]

WindyCommon said:

I’m making a market in “days until we see SBF in handcuffs”. Current quote 15.75 - 16.75

Made up at 20. Small gain for longs…

[KaraK]

jshell said:

Arrested the very day before he's due to testify to Congress?

Some people really will see a conspiracy anywhere.

An individual alleged to have committed a financial crime of significant proportions gets arrested and it must have been done to prevent his testimony! Presumably the rationale here being that he was going to reveal some shocking secret that THEY don't want him to reveal. Except that's overdramatic bks, the world hasn't been exactly left waiting for SBF to speak about the FTX collapse - I don't know if you've noticed but the little st's been spouting his mouth off to seemingly anyone who would listen for the last week or so. If preventing him spilling some nefarious conspiracy's beans was so vital why leave him wandering around talking to every Tom, Dick & Harry?

Let's face it his upcoming "testimony" before the House Financial Services Committee was little more than a zoom interview with a grander sounding label, it didn't really mean anything. As much as you can trust anything that Bankman-Fried says he'd already made it clear that there wasn't going to be anything of substance in his answers and it was pretty clear he only agreed to do it to avoid being subpoenaed.

Really this was just an opportunity for some members of Congress to be seen wagging a stern finger at him to win some easy points with voters.

[FourWheelDrift]

To handle all the complicated and massive financial data FTX used QuickBooks !!

https://mobile.twitter.com/coffeebreak_YT/status/1...

[easytiger123]

FourWheelDrift said:

To handle all the complicated and massive financial data FTX used QuickBooks !!

https://mobile.twitter.com/coffeebreak_YT/status/1...

Reminds me of

https://www.youtube.com/watch?v=m2vEDABUznk