SBF/FTX

[jon-nyc]

More context.

https://thehill.com/policy/finance/3763916-house-panel-wants-answers-from-bankman-fried-on-ftx-collapse/amp/

[89th]

I just presume that “they” will charge him, and he will go to jail. Not sure who “they” is, maybe they are a he/she.

[Horace]

I'm waiting for more information before making any judgments. But at this stage, I can't help but feel that SBF is a jerk.

[jon-nyc]

Federal prosecutors will almost certainly charge him at some point and congressional hearing would not really facilitate that process anyway.

Assuming the hypothetical scenario where we had a functional Congress, the utility of hearings would be to help Congress determine what kinds of regulations might be necessary for crypto.

In the world we actually live in, hearings are just an opportunity for members to perform in front of the cameras.

[George K]

@jon-nyc said in SBF/FTX:

In the world we actually live in, hearings are just an opportunity for members to perform in front of the cameras.

Yes. Pathetic...on everyone's part.

[Mik]

@jon-nyc said in SBF/FTX:

Federal prosecutors will almost certainly charge him at some point and congressional hearing would not really facilitate that process anyway.

Assuming the hypothetical scenario where we had a functional Congress, the utility of hearings would be to help Congress determine what kinds of regulations might be necessary for crypto.

In the world we actually live in, hearings are just an opportunity for members to perform in front of the cameras.

Amen.

[jon-nyc]

[Axtremus]

There were congressional hearings for Bernie Madoff, of course there will be congressional hearings for SBF/FTX.

Not sure what regulatory changes resulted from the Madoff hearings though, if any. @jon-nyc?

[George K]

Mr. Wonderful

[Horace]

Similar to the Theranos investors. Part investment, part social climb. With both parts at risk.

[George K]

https://www.cnbc.com/2022/12/12/ftx-founder-sam-bankman-fried-arrested-in-the-bahamas-after-us-files-criminal-charges.html

[George K]

[jon-nyc]

Taleb gettin’ it said.

[George K]

Jesus....

Thread: https://threadreaderapp.com/thread/1602395132569223168.html

[kluurs]

@George-K said in SBF/FTX:

They must be proud. It takes exceptional talent to screw up this much.

[LuFins Dad]

So this is a good time to buy, right?

[Renauda]

@George-K

Why should his parent’s pick up or even help with the legal fees? He is an adult, regardless whether or not he behaves like one.

He made his own bed and now he must sleep in it.

[LuFins Dad]

@Renauda said in SBF/FTX:

@George-K

Why should his parent’s pick up or even help with the legal fees? He is an adult, regardless whether or not he behaves like one.

He made his own bed and now he must sleep in it.

Maybe mom was laundering more than just his small clothes? Their money is his money and they are concerned about it being confiscated?

[jon-nyc]

Insofar as they’ve accepted any monetary gifts from him they’ll be subject to clawback suits. The dad hired his own attorney, according to the NYT.

[LuFins Dad]

I would think that the best course of action is to just plead guilty and throw yourself on the mercy of the court? In this case are teams of high priced attorneys really going to make a difference?