Sam Bankman "Fried"

[jetboatperformance]

Headed to the big house for 25 years , wonder which Bubba will "marry" him

https://www.reuters.com/technology/sam-bankman-fried-be-sentenced-multi-billion-dollar-ftx-fraud-2024-03-28/

 

[TPC]

Probably a deal to be out in 5 to 7 and the parents get a soft deal too. Too many politicians mixed up in all this.

 

[outboard_256]

My friend got affected by that. Didn't loose his life savings or anything but still sad. He changed credit card companies to this new one a few years back that gave the reward points in bitcoin. We all thought it was an interesting idea but were sceptical. So everytime we saw him we would ask how it was going and it was doing really good. So he was putting some of his money into the bit coin instead of usual savings too. Then one day poof, all gone. It would be like you are saving up all your airline miles for years for this big trip and money for hotels, etc. then gone. I can't imagine the people that had there live savings tied up in it. 25 years doesn't sound enough to me.

 

[yuppie]

He earned it. Meddling with customer funds to the tune of billions of dollars should carry some weight.

SBF was a believer in "Effective Altruism", which is some cultish mindset of savior mentality: https://ethicsunwrapped.utexas.edu/crypto-ethics-ftx-and-sam-bankman-fried

I'm sure the investigations into his political donations will cease now.

A month after FTX collapsed Solana ($SOL) was trading around $8 or $9. Today, it's trading at around $190, which is about a 2,500% increase. Solana was one of the cryptocurrencies SBF really embraced and he actively traded it. It was seen as FTX's coin.

Bitcoin was trading at $15K around the time of the FTX collapse. Today it's trading at $71K, which is about a 400% increase.

Not your keys, not your coin. New and emerging technologies will always be subject to grifters, but if you avoid these evangelists, you'll better protect yourself.

Crypto will survive. This ruling shows that guys like SBF will not.

 

[yuppie]

My friend got affected by that. Didn't loose his life savings or anything but still sad. He changed credit card companies to this new one a few years back that gave the reward points in bitcoin. We all thought it was an interesting idea but were sceptical. So everytime we saw him we would ask how it was going and it was doing really good. So he was putting some of his money into the bit coin instead of usual savings too. Then one day poof, all gone. It would be like you are saving up all your airline miles for years for this big trip and money for hotels, etc. then gone. I can't imagine the people that had there live savings tied up in it. 25 years doesn't sound enough to me.

Coinbase has cards like this and it's a very respectable institution. Looks like FTX never launched their credit / debit card product: https://www.coindesk.com/business/2022/11/14/visa-ends-its-debit-card-pact-with-ftx/

Bitcoin did suffer a major drawdown surrounding the FTX demise, from $65K down to $15K, but now it's breaking new all-time-highs at $71K per Bitcoin.

If your buddy still has the Bitcoin and didn't hold it on the FTX exchange, he's probably doing really good. Gotta learn how to hold this digital property yourself.

FTX is planning to pay back depositors, not sure how or when, but they did recover quite a bit of their treasury: https://www.wired.com/story/ftx-bankruptcy-bitcoin-value/

 

[TBulger]

Probably a deal to be out in 5 to 7 and the parents get a soft deal too. Too many politicians mixed up in all this.

TPC, you are right on the money sir!

 

[outboard_256]

Coinbase has cards like this and it's a very respectable institution. Looks like FTX never launched their credit / debit card product: https://www.coindesk.com/business/2022/11/14/visa-ends-its-debit-card-pact-with-ftx/

Bitcoin did suffer a major drawdown surrounding the FTX demise, from $65K down to $15K, but now it's breaking new all-time-highs at $71K per Bitcoin.

If your buddy still has the Bitcoin and didn't hold it on the FTX exchange, he's probably doing really good. Gotta learn how to hold this digital property yourself.

FTX is planning to pay back depositors, not sure how or when, but they did recover quite a bit of their treasury: https://www.wired.com/story/ftx-bankruptcy-bitcoin-value/

I don't remember the details but I think he somehow lost his wallet full of bitcoins? Or he should have transferred the bit coins to his wallet? I really don't know how it works. He tried to explain it to me when it happened but I was lost. And I don't think he even had a full bitcoin, so how does that work? How do you save a % of a bitcoin in a wallet? Like I said when he first got it we were all skeptical because we know nothing about it. We told him to just get amazon points or airline points or even just a 2% strait cash back. I think he now has a hilton based card, haha. He is out of the bitcoin business.

 

[RiverDave]

Probably a deal to be out in 5 to 7 and the parents get a soft deal too. Too many politicians mixed up in all this.

I read somewhere that they cancelled the second trial which was the one that involved all the money donated to the politicians..

I agree he will be out in no time to keep his mouth shut

 

[jetboatperformance]

I read somewhere that they cancelled the second trial which was the one that involved all the money donated to the politicians..

I agree he will be out in no time to keep his mouth shut

Or He will have a tragic Prison "accident" like Epstein

 

[OLDRAAT]

There should be no countryclub or minimal security prisons reserved for white collar criminals. None.
Put that fat, arrogant jew bastard in Rikers or a Federal prison in solitary. Maybe someone will shank or poison him.

 

[FreeBird236]

Probably a deal to be out in 5 to 7 and the parents get a soft deal too. Too many politicians mixed up in all this.

What ever happened to doing 90% of the sentence in federal prison?

 

[Xring01]

I dont think that dude will survive 12 months in prison.
If the inmates dont kill him…
The stress will.. and he will pull an Epstein.

He is the definition of a fucking snowflake.

At least thats what the Liberal politicians who took his money want us to think..

Think I am on to something here.

 

[jetboatperformance]

I heard a rumor that another Inmate said He "stinks" because He's afraid to shower ?

 

[Spudsbud]

Or He will have a tragic Prison "accident" like Epstein

This......

 

[yuppie]

I don't remember the details but I think he somehow lost his wallet full of bitcoins? Or he should have transferred the bit coins to his wallet? I really don't know how it works. He tried to explain it to me when it happened but I was lost. And I don't think he even had a full bitcoin, so how does that work? How do you save a % of a bitcoin in a wallet? Like I said when he first got it we were all skeptical because we know nothing about it. We told him to just get amazon points or airline points or even just a 2% strait cash back. I think he now has a hilton based card, haha. He is out of the bitcoin business.

Bitcoin breaks down to the 8th decimal place, the smallest unit is called a "satoshi", which is 0.00000001 of a whole bitcoin. Fractional shares are commonly traded on the stock market, so you could think of it similar to that. You can own half a share of Apple stock, for example.

Bitcoin itself isn't really a rewards or points system, it's a superior store of value, especially when compared to the dollar.

For all of you interested in the SBF prison drama: Tiffany Fong is a great journalist that has been tracking SBF's saga closely: https://tiffanyfong.substack.com/p/exclusive-photos-of-sam-bankman-fried

SBF gets special meals because he's a vegan. There is a ration of Mackerel (the fish) that he gets that other prisoners covet, they call it "Mack" and he trades it for protection. They should make a movie out of this whole thing.

 

[RiverDave]

I find It interesting that you can trait a bait fish for protection in prison.. LOL

RD

 

[OLDRAAT]

Serve him a puffer fish for Friday's meal and film it. I'm tired of subsidizing these rich guility scumbags with our tax dollars. All their assets should be seized for such purposes.

 

[jetboatperformance]

Maybe He will become "MACK DADDY"

 

[TimeBandit]

Somehow through all this he still has assets.
He has hired lawyers for his first of many appeals.
It's what rich white people do.

 

[Englewood]

Serve him a puffer fish for Friday's meal and film it. I'm tired of subsidizing these rich guility scumbags with our tax dollars. All their assets should be seized for such purposes.

I agree. See what Russia did to those terrorists they caught? 80volts right the pecker.

 

[TPC]

What ever happened to doing 90% of the sentence in federal prison?

Blago got 14 did 7,, sentences don't mean anything anymore. Especially Federal. (some reports say 8/14)
Hunter will be out pretty quick too.
Democrats released a Manson Family member from Calif State prison that was suppose to be executed.

Bankman should be given the Madoff deal. Forever. But... too many politicians mixed up in all of it. He wisely involved them.
Bankman and his parents acting dumb about it wall with their credentials,, and their Socialist ideology,, it all stinks.

 

[500bbc]

I find It interesting that you can trait a bait fish for protection in prison.. LOL

RD

Spanish Mackerel is very good, even as sashimi.

 

[LazyLavey]

He needs a $450,000,000 fine to go along with the 25 years

 

[rrrr]

He earned it. Meddling with customer funds to the tune of billions of dollars should carry some weight.

SBF was a believer in "Effective Altruism", which is some cultish mindset of savior mentality: https://ethicsunwrapped.utexas.edu/crypto-ethics-ftx-and-sam-bankman-fried

I'm sure the investigations into his political donations will cease now.

The DOJ has already said they don't intend to investigate the nearly $100 million in campaign donations SBF made.

What a surprise .

 

[OldSchoolBoats]

My friend got affected by that. Didn't loose his life savings or anything but still sad. He changed credit card companies to this new one a few years back that gave the reward points in bitcoin. We all thought it was an interesting idea but were sceptical. So everytime we saw him we would ask how it was going and it was doing really good. So he was putting some of his money into the bit coin instead of usual savings too. Then one day poof, all gone. It would be like you are saving up all your airline miles for years for this big trip and money for hotels, etc. then gone. I can't imagine the people that had there live savings tied up in it. 25 years doesn't sound enough to me.

Yeah, got caught up in BlockFI myself. Sucks. I think I just got $8.48 sent back to me after the BK settlement.....lol

 

[OldSchoolBoats]

This is super conspiracy but I have thought it because it seems plausible.

So there is a guy who used to work at the corporate office of the franchise we own. His son mysteriously went missing. Hasn't been heard from or seen in over a year. His son weirdly, looks like SBF, so I always wondered if he was kidnapped to be "SBF"....while the real dude just chills on a beach.

 

[Jimmyv]

I don’t know much about the prison system, but this guy won’t go to prison-prison, he’ll go to club-Fed and play pickleball and grow vegetables in some prison yard garden.

I had money tied up in FTX and also Genesis global capital, which also subsequently failed. I’m not included in the specifics of either settlement, but Genesis money should be paid back in the coming months, and unsure what if anything will come of the FTX funds.

Crypto is easy come easy go - Just another day.
Money on paper is never real until it’s in your checking account and the taxes have been paid.

 

[yuppie]

I don’t know much about the prison system, but this guy won’t go to prison-prison, he’ll go to club-Fed and play pickleball and grow vegetables in some prison yard garden.

I had money tied up in FTX and also Genesis global capital, which also subsequently failed. I’m not included in the specifics of either settlement, but Genesis money should be paid back in the coming months, and unsure what if anything will come of the FTX funds.

Crypto is easy come easy go - Just another day.
Money on paper is never real until it’s in your checking account and the taxes have been paid.

FTX funds are going to be returned 100% to depositors. Alameda made good investments, and the court / lawyers have decided to sell FTX's stake in a big AI company to repay all the depositors 100% of their funds. Just going through the paperwork motions now.

 

[yuppie]

Yeah, got caught up in BlockFI myself. Sucks. I think I just got $8.48 sent back to me after the BK settlement.....lol

I was actually in BlockFi as well, but after I saw some opportunities in CryptoPunks, I took it all out and got into other stuff.

It really pays to get a hardware wallet and just keep it all yourself.