FTX/Sam Bankman-Fried megathread

[prolapsed_cranium]

The cost of the pointless legal defense and trial SBF demanded probably drained most of the savings his parents had.

They're neck deep in this shit so I laugh at the prospect of their poverty

 

[Shlomosexual]

I just came here to see how many examples of Mutts Law would be present. I was not disappointed.

 

[Slime Spewing Spasm Chasm]

I was completely convinced that he would get away with it with a slap on the wrist and a some tut-tut-tutting for the crowd from a paid off judge with the media burying any coverage on it sans letting the story spread on websites they convinced the public are conspiracy-nut rags. But color me surprised, he actually got the book thrown at him.

I still think we need to see the details of what this 100+ sentencing looks like, for all we know he could be thrown into a gulag of luxury in some posh low security prison or even get early parole once the heat dies down to finish off he sentence at home.

I've lost faith in the justice system but I'm hoping this time I am wrong.

 

[Libyan Ninja]

Anytime misfortune falls upon a cryptofag, it makes me feel a sort of child-like joy I rarely feel.

 

[cybertoaster]

And if you aren't already connected beforehand, you get thrown away when you fuck up.

No, nobody is bulletproof, even elites. Its like the mob, they might all swear loyalty and pledge the omerta code but when shit gets real they will give their boss up to the feds. The elites are no different, politicians will drop their life-long mentors if sticking with them mean they wont ever get elected again. At the same time nobody in wall st. will defend one of them if that means a domino effect that could drag them down too, they will throw the guy to the wolves.

A more recent example: the demographic shift causing less people to care about israel is making many elites wary of pledging their unconditional support like before because now they stand to lose votes and money if they do, which does not mean they are simping for palestine now just that they will revert to pre-1960's standards of not-giving-a-fuck about israel.

you honestly think SBF is going to rot in prison silently for even three years and never flip?

He's probably being told that spilling the beans wont save him, and the thing about epstein is that they had nothing to extort him with, he was already expelled from high society for being an official pedo and sex trafficker, but more importantly he didn't have any family left, no kids. But bankboy has his parents and I think one brother, he could be told "you don't want anything bad to happen to them do you?". Doesn't helps that his parents are in deep shit for receiving about 10 millions of stolen money and a 16 million mansion too, they might end up in jail and bankboy is being told if he keeps quiet they might just get demoted to middle class.

Of course eventually his parents will die and at that point bankboy might decide to talk but by then everyone will have forgotten about all this so he can be dispatched without too much ruckus.

I mean, we're talking about the same people who killed epstein right in the middle of the shitstorm and nothing happened, they can get away with anything and you think they'll hesitate to kill bankboy and his family? "Accidents" happen, like jeffy roping himself from no height just when his cellmate gets escorted out of the cells and all cameras malfunctioning at the same time, what are the odds?.

There is now a distinct chance the FTX depositors might eventually be made whole

Ask the bitfinex holders if they been made whole, and that company is still around, owns tether, it could be liquidated to pay people back, and almost 10 years later it hasn't. Keep in mind they not only kept crypto funds but fiat too, and nothing happened.

Sam sitting in jail for the rest of his life is a waste of tax dollars

Agreed, lethal injection it is.

Anytime misfortune falls upon a cryptofag, it makes me feel a sort of child-like joy I rarely feel.

Sadly many crypto scammers got away with it, either because they stole too little (millions instead of hundreds of millions or billions) so the authorities don't care enough to prosecute them (yet) or for the simple fact that they didn't have the share hubris of bankboy and kept their real identities private, which is what 99% of all shitcoin token rugpull schemes at /biz/ did. Nobody knew who they really were and if they actually revealed their identities a cursory search showed they were fake pics and names.

 

[Ass to Ass]

Sam is probably going to end up catching a heftier sentence than a child molester. What insanity.

 

[maguyver16]

Sam is probably going to end up catching a heftier sentence than a child molester. What insanity.

Do you think he deserves less of a sentence?

 

[MirnaMinkoff]

Ask the bitfinex holders if they been made whole, and that company is still around, owns tether, it could be liquidated to pay people back, and almost 10 years later it hasn't. Keep in mind they not only kept crypto funds but fiat too, and nothing happened.

I don't keep up with that weird Italian plastic surgeon and his tether hijinks but I'm assuming you are referring to the hack in 2016 and wikipedia tells me:

Exchange customers, even those whose accounts were not broken into, had their account balance reduced by 36% and received BFX tokens in proportion to their losses.[13] All users who kept their BFX tokens were reimbursed in full within eight months of the hack, in April 2017.[14] The exchange's access to U.S. dollar payments and withdrawals was then curtailed.

But regardless a hack at a shady crypto company, one that is constantly shunned by banks across the world, is a very different animal than a chapter 11 bankruptcy filing in Delaware being managed by a highly regarded corporate restructuring specialist. There were many offers for the half billion in anthropic shares that FTX owned, it was considered one of the best assets in the FTX portfolio, but John Ray refused to sell because he felt it was still undervalued and he was right. Now the initial investment of $500,000,000 might be worth up to $5 billion after Amazon's recent four billion investment.

SBF was barred from mentioning this turn of events in court, since how well the stolen money performed has no baring on his crimes (I think they made the analogy that if you rob bank and then buy a winning lottery ticket with the proceeds it still doesn't make the bank robbery okay). But anyway FTX creditors are very likely to get their money back via a professionally managed bankruptcy proceeding being managed by a corporate restructuring veteran IF the value is there to distribute. The sudden increase in the value of Anthropic stock might very well give Ray the additional funds to distribute to FTX creditors and make them whole.

 

[Ass to Ass]

Do you think he deserves less of a sentence?

I think child molesters deserve to die, so ten-year sentences are obviously way too lenient in comparison to what Sam is facing.

To answer your question, I don't think he really deserves less of a sentence. I'm just pointing out the current state of the legal system in America.

 

[SpergioLeonne]

And if you aren't already connected beforehand, you get thrown away when you fuck up.

Let’s see if Sam was “connected”

I call this the “courtroom sketch index”



Wow, looking pretty generous. How about Caroline Ellison, probably the biggest witness for the prosecution?




Ahahaha they made her an Erdtree Burial Watchdog

 

[celebrityskin]

Great news. He was a fraud and a weirdo, good riddance.

 

[Maradontia]

Shut it down, da goyim know!

 

[Netizennameless]

Let’s see if Sam was “connected”

I call this the “courtroom sketch index”

View attachment 5472681

Wow, looking pretty generous.

not even Jesse Eisenberg has a horrifying enough appearance to play SBF. They are just trying to give hollywood some wiggle room in casting. Also, it may be beyond the artist's ability to portray such an abomination.

How about Caroline Ellison, probably the biggest witness for the prosecution?

View attachment 5472684


Ahahaha they made her an Erdtree Burial Watchdog

I mean look, the Smeagle costume cost a fortune and this is an opportunity to recycle it. Hollywood has taken a lot of L's over the last couple of years and needs to optimize costs.

 

[cybertoaster]

and wikipedia tells me:

Practically everybody rushed to sell the token because they feared it would be worthless which is what the assholes at bitfinex wanted to happen so they could buy back their own debt at a pittance, which they did, and only the most hardcore users who could afford to wait did so and got all their money back...........right when BTC was at the ATH, so they got paid back the equivalent of what was worth during the hack which IIRC was less than $500 when the price was about $20000.

So yeah, they all got fucked, nobody was made whole except the ones who sold the token immediately before it cratered and bought BTC then waited for the price to go up, which was also a gamble.

Point is don't use bribepedia as a source, there are literal PR agencies whose entire job is paying editors to clean up their horrible clients' pages so nobody knows the awful shit they did/do.

Now the initial investment of $500,000,000 might be worth up to $5 billion after Amazon's recent four billion investment.

The sudden increase in the value of Anthropic stock might very well give Ray the additional funds to distribute to FTX creditors and make them whole.

Except that they stole/burned thru/anihilated about $11,3 billions in assets from their customers when bankboy took their real money and changed it for his worthless tokens.

So yeah, "whole" as in "we're still missing another 6.3 billion", not even half of what was stolen.

I think child molesters deserve to die

I recommend you watch The Hunt.

 

[Orange Rhymer]

They're neck deep in this shit so I laugh at the prospect of their poverty

The lawyers drained the true victims' money , not the Bankman-Fried accounts.
Billions are unaccounted - or falsely accounted for.

Reminder that SBF was a face and fingers - the actual engineer of FTX was the father. The mother distributed 'donations'.

Saddened at the state of 'Super Villains' these days. You think they could go at least a decade without getting so easily caught.

 

[Tony Vivaldi]

Let’s see if Sam was “connected”

I call this the “courtroom sketch index”

View attachment 5472681

Wow, looking pretty generous. How about Caroline Ellison, probably the biggest witness for the prosecution?

View attachment 5472684

Holy shit. He handsome.

The disparity between the two indicates prejudice. I guess they don't vet the artists as much as they do the jury.

I don't mean to derail the thread, but I always laugh at these courtroom sketches and I have questions. Firstly, Why? The advent of photography would have undercut such art.
Secondly, how famous does a case have to be to warrant an artist's presence? I've been to a few trials and never seen anyone setting up an easel. Where are these artists stationed in the courtroom?

O.J Trial and Depp Divertissement below:

 

[okyt]

Calling it now, Tiffany has a massive case for white fever for SBF

"white"

 

[SpergioLeonne]

Calling it now, Tiffany has a massive case for white fever for SBF

Tiffany Fong got the interview which launched her “journalism” career by calling Sam “hot” on Twitter. Literally, she did that like the day before he gave her an interview that she completely softballed, while a bunch of people like coffeezilla were foaming at the mouth for a chance to actually press him.

I don’t think it’s real. Maybe it would’ve been if he was still rich. It’s mostly a case of truly depraved thottery.

 

[Netizennameless]

No, nobody is bulletproof, even elites. Its like the mob, they might all swear loyalty and pledge the omerta code but when shit gets real they will give their boss up to the feds. The elites are no different, politicians will drop their life-long mentors if sticking with them mean they wont ever get elected again. At the same time nobody in wall st. will defend one of them if that means a domino effect that could drag them down too, they will throw the guy to the wolves.

Exactly. There are limits to what you can get away with and SBF blew past those limits. No one will save him just because he was in the club.

I don't mean to derail the thread, but I always laugh at these courtroom sketches and I have questions. Firstly, Why? The advent of photography would have undercut such art.

Cameras/recording devices are banned in many (most?) courtrooms and this is the best the media gets usually. Plus it's a tradition now.

Secondly, how famous does a case have to be to warrant an artist's presence? I've been to a few trials and never seen anyone setting up an easel. Where are these artists stationed in the courtroom?

my 100% ignorant speculation: famous enough that your arrest makes the newspapers. So either you have to be famous or the crime you are accused of must be bizarre/horrible.

 

[cybertoaster]

Exactly. There are limits to what you can get away with and SBF blew past those limits. No one will save him just because he was in the club.

The point is that there's no level of connections that will make you bulletproof, if you become too much of a liability they will straight up kill you like they did with epstein, but your elite buddies are not gonna walk the plank to save your ass.