a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment by elizabeth
elizabeth  ·  10 days ago  ·  link  ·    ·  parent  ·  post: Sam Bankman-Fried tries to explain himself

Them kids should go to prison… I doubt they will but the amount of scammy fuckery here is mind blowing. Looks like they had software to conseal misuse of customer funds?! And an auditing company from the metaverse ? How can this be any more of a joke? Alameda exempted from liquidation ? Minted a bunch of coins as the files chapter 11? First day of the investigation and so many red flags already there…





kleinbl00  ·  10 days ago  ·  link  ·  

naaaaah dawg there's prison in here. It'll be tip'o'the'iceberg shit but really, it seems like there were eight or nine people running the whole thing anyway.

What will be really interesting is how much contagion spills all over everyone else. I can draw a straight line between "coastal elites" and "deep state" and it goes through "drug-fueled Harry Potter orgies" and "New World Order fans". We can Thank.Our.Lucky.Stars that Rush Limbaugh is dead, Alex Jones is bankrupt and Tucker Carlson is a known Russian asset because holy shit fam if '90s Rush got a hold of this?

elizabeth  ·  10 days ago  ·  link  ·  

I hope so! The dude is loaded with stolen money tho, so he might be able to live out in the Bahamas till he dies or gets murdered. Or maybe even strike a deal by promising to give some of it back? But For sure those idiots deserve prison time and I hope this time consequences catch up to them trust fund babies on meth playing around with capital like it’s the Neopets…

kleinbl00  ·  9 days ago  ·  link  ·  

The US has extradition with the Bahamas.

There were rumors he tried to leg it to Dubai, which does not. But as it is, he - and, in my opinion, everyone who lived in the penthouse - are in a great deal of legal jeopardy.

I don't think he has any to give back, frankly. What he had was a bunch of loans of other peoples' money that he spent on risky bets that didn't pay off. Money's gone, yo. That invites a whole 'nuther level of investigation because if you find it you can make people whole but if you can't? You need to do a whole bunch of pomp and circumstance about how it ain't never comin' back.

The average account balance on FTX was $600k. That's the size balance that gets looked after for a while.