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SBF is a terrible parasite in the crypto ecosystem. He said What Happened as if he didn't care about what was happening right now. He looked relaxed and was probably drinking coffee and leaning back in his chair.

"[NOT LEGAL ADVICE.  NOT FINANCIAL ADVICE.  THIS IS ALL AS I REMEMBER IT, BUT MY MEMORY MIGHT BE FAULTY IN PARTS.]"

"I'll get to what happened.  But for now, let's talk about where we are today."


WHAT WHAT WHAT WHAT WHAT WHAT

Investors lost $8 billion in response to only with words" WHAT (f*ck*ng) HAPPENED"

https://twitter.com/SBF_FTX/status/1591989554881658880

https://i.imgur.com/HRN3IsG.png

After people lost the money which he use to donate to politicians we don't support, he wants to be grateful because he brought crypto to where we are now. This guy is really mad. Yep, he really has someone behind him and he can be sure he wouldn't be going to jail.

According to some news, he still stays in Bahamas where his house was guarded by Bahamian authorities which he was on cam playing video games.

SBF was typical a troller. that tweet has been revealing his true nature since what happened with so many users of FTX (include me) and he can still try to create such troll tweet like nothing happened. I hope that guy will be jailed soon along with alameda ceo.

that shitty guy must be brought to the court as soon as possible. there's something wrong happened with him. i believe.

He may have lost his memory and asking " What happened with my exchange"

Or he is trolling with his investors " what happened with your money?"


In the US at least, it seems improbable during the Democratic tenure.

• Bankman-Fried spent around $37 million during the last election cycle, almost all of which went to boosting Democratic candidates and causes. That made him the party's second-largest donor, according to OpenSecrets, and the sixth largest overall. (https://www.axios.com/2022/11/15/ftz-crypto-bankman-fried-democrats-midterms-campaigns)
  
  Sam has spent about $37 million on the current  government, and I assume the government will send him to a safe place to prove its loyalty to him.

Him & his degenerative team created a monster that got too big. They couldn’t stay solvent, so they started gambling with user funds to try & do so. They could not afford to do what they were doing, sponsoring huge events, donations to politicians. It’s ridiculous tbh & I hope they all go to jail.

He ruined peoples lives, he should get 20 years for financial fraud.

I've been reading some rumors that SBF is just too young to pull something this big. People have hinted or suspected that some Government or Financial institution is involved in this debacle. It could be well true if you're going to look at the list of people that has been connected with the exchange. We'll see once the cases filed against him and FTX starts rolling.

He's still a kid.
He's got his way to the top as if it was easy on him when he has understood how his way up there been. Dude has got no remorse and not feeling sorry.
With that way of tweeting, he should have just kept quiet and better let himself cleared and explain of what happened instead of tweeting like a weenie.

People are speculating that the reason he was making these tweets was to delete older tweets without detection.  No idea how true it is, but that's what the twitter sleuths on the situation were saying.  I think Sam knows exactly what happened as he had to be the guy to OK use of customer funds in the beginning.  I'm surprised how well he's being treated currently but I guess it will be a while before the proper authorities get their hands on him.  Amazing how quickly he went from savior to demon.  The damage he's caused possibly millions of people is no doubt a setback to crypto adoption.

It is very obvious that he has backings from the government which might repel any attack against him to sue or jail him. This is government we are talking about and he is still skeptical about how we felt about the situation instead of looking for a way to make sure that the hackers and whatever are apprehensive. I think crypto is be aiming more toxic to those that do not hear simple instructions that do not keep all your eggs in an exchange. It is better we split it than to leave all our funds in a exchange that can get hacked any day.

They promoted this kid by the way to be one of the billionaire philanthropists who donate to charities and he is not interested to make money. If the Alameda data wasn't leaked and published by coindesk, this wouldn't happen.

The tweet is out of character. It should be CZ to give thanks for finally ending their scam by triggering. Many things were uncovered about his girlfriend Sweet Caroline, by the way, the ones who investigate deeper could really say he is just a kid and is being used.

Sam is more trolling than Do Kwon and we can not say both guys did enough transparent management and communication to their communities. They both use and abuse capital from their users very incorrectly. In a crazy bull run with which price went up exponentially, they were fine. Unfortunately, when price went down and crashed, their models are paper in a toilet which is washed very easily and quickly.

It maybe just a beginning of something worse for him. I don't mind about Sam too much but I am looking for more regulations on cryptocurrency market and blockchain industry after many collapses in this year.

Probably this guy was just a character created by the political lobby of US. A sockpuppet of them to launder money and fool the naive to believe he was going to share all his fortune with people in need from every corner of the world. His last tweets make no sense and I even thought he could have been hacked on twitter. But maybe he is just too assured his back is safe and guaranteed by those influent personalities and groups of power he has been fueling with investors and customers' funds along the years, that he doesn't care showing some empathy and respect for people who lost money under his surveillance.

It's too bad he can't even empathize with the people who have lost as a result of his actions, people who have supported his business growing by trading and buying his tokens, he's even worse than a hacker because a hacker never acts as if he's a good person even though he isn't

At the height of Sam's popularity, he was then considered as undeclared hero and even a savior for the cryptocurrency industry...because at that time there was no one checking on the things he and his people had been doing. They made so many illegal moves which later on led to the collapse of the whole business especially FTX. Now, we are starting to see that Sam is indeed just another parasite in this industry...someone who is here just for the money and without maybe realizing it he induced one of the biggest chaos we ever faced. Sadly this will nailed the trust and confidence bestowed by the people to the crypto industry...and I would say that after FTX things will never be the same anymore.

That's right, although I've somehow hated CZ for always intervening with the market. But this one is an exception and it's good that he has exposed this kid and his cohorts.
If this haven't been talked about, I'm sure that many poor innocent depositors on FTX would have no idea freaking idea that their money is being played on.

I also think he is bullying his exchange users. But in any case, justice will catch up with him and he will answer for what he has done. The fate caught up with him in the mirror when he was talking about some exchanges which are on the verge of bankruptcy. He ended up going bankrupt. As for what he tweeted - perhaps he was under the influence of drugs? It must be hard to go through such a situation when life is slipping from under your feet.

We shouldn't trust our money to these sociopaths. Just read the news reminder at the top that was written by theymos, there's nothing nice that's do than that right now. I wish he'll be convicted over that mismanagement as well as his team.

SBF is a clown who got the right to hold big money.
Read Edward Snowden's tweet. There is a link to an article where it says where the money was actually spent.
https://twitter.com/Snowden/status/1591848718243954693
5 million people lost money, how many people lost money as a result of this scam on other exchanges?

From what I understand there is basically "oh our funds were stolen" as usual and nothing more. It's obvious that we are talking about a place that didn't take care of their security very well or just stole people’s money themselves. The reality is that if you are FTX then you put all the money into cold storage and only put a small amount of it on withdrawable hot wallet.

When you lose hundreds of millions of dollars, that means you didn't do the very simplest thing, which is cold offline storage. This can't be the only reason but they keep saying that it is, and they are just bankrupted because they were hacked into, one of the millionth exchanges that gives the same reasoning.

CZ usually tries to do that constantly, sometimes he is right and does the right thing, sometimes he is wrong and mistakes things but at the end of the day his values are true to crypto and his aims are great for it as well.

He wants everything to stay the same and be good, which is a good reason to attack or at least warn and that is what he did here as well and it worked out very well for people who wanted to get out. He had absolutely no reason to keep FTX alive, why would he be the one that works so hard for it, and that means we are talking about his own money would have gone to save everyone, he didn't have that responsibility so he should not be considered a reason for this.

Sam lacks respect for the community he destroyed their life savings. Not everyone has the mind bear such losses. People repose trust on you and you fuxk them up by gambling with their money. Then coming online to talk trash.

After this no one will believe in him anymore he is like doing puzzles like a child who doesn't know anything about his own problems, for me he is a virtue who doesn't care about his consumer funds, I also expect some news he was arrested and legal justice for them and their team.
He has scammed a lot of customers in one night and he is still on the loose.

Good to see this warning here in forum, hope to see more of this.
SBF is such a crazy guy who spend a lot of money donating to many politicians, as if he is asking for some backup if something bad happen. With the current situation, its not advisable to trust this guy anymore many already lose the money and better for SBF to bring it back and stop the fraud, he deserve the punishment.

He is planning to raise another funds in return of something, if you are an investor of this I suggest not to deal with this guy, he’s a fraud and leaving the project behind speaks a lot about his personality. He already lose the trust of the public, sooner or later someone will raise this into court and he have to deal with it. Avoid dealing with SBF at all cost, this is for your own sake so better to ignore this guy. He is known now as one of the top scammer, such a shame.

I doubt it, to me he was a Trojan horse, the more people investigate him the more links they find to political parties and other prominent figures, so it is likely that this was planned from the beginning and he did all of this to try to bring the market down, and if that did not work then his actions will bring even more regulations to the market that people like us will have to go through, if that is the correct interpretation, or at least it is close to the truth, then it is unlikely he will ever face jail time.

Well there is nothing this man says that will make me believe a word he says.  He is full of lies and we can only hope that there will be some justice served for his terrible unethical actions.

We can only hope that the us will bring him in to properly charge him with horrible crimes.  Many innocent people lost all of their life savings because of this evil lying man and I do not feel bad for him one bit.

Although he knows what happened he was just pretending that it was all not his mistake and he is also one of the victims but the one's who are at loss is the user who were holding FTT tokens and the employees who lost their job and their funds with FTX reserves or their native token.It was really bad phase in which we are all striving to get out as the whole market is affected but hold strong as there might be another SBF saying the same thing in future.

It's hard to know if CZ is doing the right thing for the community or he is doing it for his own benefit, the bankruptcy of the FTX exchange will bring a lot of benefits to binance, FTX was once considered the most formidable competitor of Binance.
We have a lot of exchanges but binance almost dominates the crypto market and if it continues like that you will soon start to hate him more because of Binance's monopoly on the market. I can't say that his actions are commendable, but as for him being the initiator of the release of the proofs of reserve, I really applaud it.

And with that, SBF was hit by a class-action lawsuit:


https://www.foxbusiness.com/markets/ftx-founder-sam-bankman-fried-hit-class-action-lawsuit-also-names-brady-bundchen-shaq-curry

And the plot tickets, as there are reports that there could be lawmakers also involved, either as a investors and so this investigation will drag a lot of names not just sports personalities such as Tom Brady and Steph Curry.

https://decrypt.co/114888/new-ftx-ceo-distances-company-from-sbf-after-founders-ongoing-tweets
New FTX CEO Distances Company From SBF After Controversial DMs Surface
FTX’s new post-bankruptcy leader may not be a fan of Sam Bankman-Fried’s social media transparency.

FTX doesn't stand a chance. Soon everyone will forget about this exchange, and the SBF and the team will come up with a new scam.

It will be all cleared once they start the investigations and one by one they will gonna track who's really behind it one thing is for sure, they will gonna face some real consequences if they are proven guilty because what they have done is not a small matter because they clearly act good in the first place and attract more customers. until when they found an opening, they execute their plan and they even do a cheap manipulation when they suddenly fool their users as if it was real that they were hacked. Damn! that's really an obvious escape because they can no longer give their users crypto assets anymore.

The crypto world has to work on its overall reputation for immaturity ranging from security issues to hacking can only push newcomers away from adopting cryptocurrencies. I think there needs to be an effort to protect legitimate services from attacks like this. whether we have made or lost money with our investments.

I'm starting to have that sense in him that he's genuine in his words. But it's also hard to play on the trust of everyone especially if you're owning the huge and most known exchange in the world. The thought of having the kind of manipulation that we used to see before and until today can't be gone. I do understand the backing out when he had thought of helping FTX, it's already sinking and there's no way it could be uplifted so he's left them.

We can give him the benefit of the doubt because he do really helped a lot of people this time and FTX wasn't transparent when they're on the verge of falling down.
If it's not for him, there could be more people that will deposit to FTX and it could be massive wealth and life savings that will be gone for its entirety if he hasn't exposed them.

- I read this source link that you gave here Sir, honestly, I was surprised by that article. In the last election that took the place last year 2021-2022 if I read correctly, SBF spent about 40M$ on one political person.
Also, in the coming election when Donald Trump runs in 2024, he is ready to give support worth 1B$, for him, that amount is shocking, to be honest.

But with this incident in the FTX scandal, I keep wondering if he will continue to be a major donator in Donald Trump's run in the year 2024.

If you are not ready and don't want to lose like that then you better not invest in this market. The market is not a get-rich-quick and no market is without risk even if you are a traditional trader. SBF makes mistakes that deserve punishment but he doesn't force you to put your trust in him and you can also protect your own assets instead of leaving it to someone else to manage. I'm not defending him but you should be responsible for your property rather than blaming someone else.

Glad to see everyone's response in this thread.
A good response to SBF is an actor acting like a clown who fools a lot of people.
and then she just relaxes and enjoys her life as if nothing happened.

I have another piece of news that might make you all even more fed up with the SBF Sociopath.

Check out this news: https://www.nytimes.com/events/dealbook-summit#speakers
https://i.imgur.com/rusyVFZ.png

DealBook Summit
- November 30, 2022,
- 8 a.m. – 6 p.m. E.S.T.
- New York City
- Premier Sponsor Accenture

He was even a speaker at the event, his photo was in the top spot being a key person who would give financial advice.

But, is he going to come to the event and say that FTX's collapse was due to hacking and not his fault?
Maybe if Do Kwon is presented it will also complete the list of potential and talented young speakers (to the detriment of millions of people).

Based on understanding on his series tweet. His “what happened” is just an introduction for his explanation on what happened on FTZ and the gang. It just look like a insensitive comment because reader didn't care to read the whole and focus on the first tweet on the series of thread. I’m not a supporter of SBF but I’m just trying to interpret what he said since many user even on social is using every single piece of FUD material to make a negative impression to the market just for there short position purposes.

It could be, but if you have to read between the lines, although later he admitted his fault, but his answer was like of a 10 year old kid who just lost his candy because of his wrong doing and then asking what had happened?

Same here, even before t he FTX collapse, I'm not a fan of him, not sure what investors have seen in him that really brought him huge money from them.

It's late already, all their money is gone and it will really take a miracle before they can get it back or at least portion of it.

Come on! Seriously, he's still going to be a speaker on an event like this while he's dealing with his stir from his company? That's odd for me honestly.
If he's come to that event and start talking shit about defending himself and making it look like he's all innocent. This guy has something on his head and has to be knocked for that. I hate it when we're seeing people like him doing casual things while many people he has affected made their lives miserable. Could this poster has been made before the FTX collapse? Anyway, this event is loaded of prominent people except Sam.

WTH, is he real?  Lol after his misappropriation of FTC client's fund, he has the guts to ask for money again?  It looks like he has drained his money from playing online casinos and needs more fund to sustain his gambling activities.[1]


After all the things he did and how unserious he is in dealing with the problem, I will never buy this guy's idea.  He has been proven by the current collapse of FTX as incompetent.  Who would want to deal with this kind of people?

---

[1] https://ftxcollapse.org/breaking-news-sbf-lost-over-100m-gambling-at-online-casinos/

And the plot still thickens, as the new CEO John Ray says:

https://talkimg.com/images/2023/11/18/Fz6nI.png

https://twitter.com/kadhim/status/1593222595390107649

And SBF claiming it to be a billion dollar empire, however, "Fair value of remaining non-stablecoin crypto is $659".

I guess we can say that this is worst that ENRON, and it's going to take a lot from John Ray to clear this messed and the bloodshed left by SBF.

Demo politicians. Sam might actually not going to be investigated while Steven Seagal just promoting a token was investigated and paid $314,000 as ordered by SEC. He wasn't even aware it was a scam. A well-connected freak like Sam is free to go anywhere and head high speaking to the public.

You aren't as crazy as it seems if you believe a conspiracy theory that this crash is well planned as they are all in cahoots and Yellen the old bitch is part of it.

I also believe in this conspiracy theory, It is also my belief that this was a pre-planned accident. It should also be noted that all of these people are Democrats, and the SBF donated 400 million dollars to the Biden administration during the last election as well. He is the 2nd biggest donor of pro-democracy party and most likely all this donation is user money from FTX. In the end it's all for the sake of US politics, LOL.
Rumor has it that Congressman Maxine Waters will preside over the FTX investigation in the House.
https://i.imgur.com/hLn6xRJ.jpg

That's not how the real world works. His crimes and misbehavior is too public to brush it under the rug anymore. Sam messed up big time in many ways but are donations from rich guys now illegal somehow? I though they were pretty common thing in US.

Also people seem to forget what triggered this bear run. It wasn't CZ catching the mismanagement of funds and collateral. Terra was the trigger that caused the panic, insolvency in everywhere, shorting etc.

That will grow exponentially, but first we need to realize how to use it first. The fact that all of this is happening constantly is because people are falling for it each time, and that means if I can steal billions from people, then why wouldn't I do that? I personally wouldn't because it is not moral nor ethical and I feel like I would feel shame all my life and would not be able to live with myself if I ever did that.

But, the criminals of the world don't care about that at all, they just ignore it all together. Which is why I believe we shouldn't really be letting them make the decisions anymore and just not fall for them, if we stop falling for it, then they will stop doing it.

That makes sense and looks like most things are connected. When you've got the personal connection with powerful people, you can getaway with anything that you do even if they're the baddest thing that you've ever done.
It's going to be a huge surprise if he's going to be present on this event and will do the presentation or speaking just as what the poster has advertised. It's crazy to think how a man can freely move while too many of its users have been thinking how they can get back on track while the mastermind of it seems to be not caring at all.

Not all of them are democrats, you could trust whatever you hear or listen from republicans all you want, but it is not going to get your life any better, you are just going to get more bitter because of the false information you have been fed. First of all, Mike Pence is there, you know the one? The vice president to Donald Trump? Secondly CEO of Tiktok? Neither republican nor Democrat obviously, CEO of amazon? The guy who destroyed any attempt on unionization, the thing democrats cared about? Netanyahu?

The one that progressives hate so much because he is responsible for killing so many innocent Arabs in his nation? I can go on, but yes, there are "some" democrats such as Janet Yellen, Van Jones and such too, so it is not "all" democrats, it is both democrats AND republicans together there. Be well informed, the picture is right there, you don't need to be lied to, just look for yourself.

Yes, I was a bit confused here. but have you seen the recent news? There is a lot of information out there and there is a lot of evidence that SBF has close connections with the Democratic and that he is also a huge fundraiser for Democratic campaigns. I agree that this is just a conspiracy theory as we still don't have a final conclusion on the demise of FTX but I still wonder how a young man like him can get along with so many Democratic politicians.

I also read that yesterday (I forgot which thread) and got a list of SBF tweets that were successfully archived (https://docs.google.com/spreadsheets/d/1Mto6h1TT52TVBNEwm31NV6hs9T0y-EdW-NuwrzfsC24/htmlview?usp=sharing&pru=AAABhJ5K-Ls*P1PjynMS1Sm6dTdG_31sDA) before its disappeared.

That's corrected, $659k to be precise. source (https://twitter.com/kadhim/status/1593235533387694080)

At least you should read his biography first.

Governments are full of controversy. There are left and right corruptions, and etc.. so the above scenario is very possible to happen. Donating is not illegal of course but there is a big possibility that what he used as a donation is not the money of his own but it was the money of the people who trusted him. That was wrong in any angle but if scenarios like that are common in the US then that's bad for their reputation. I even thought US is a good place but I was wrong.

Before the FTX tragedy happened, there was terra but before them, I think there is already a bear market that time but these negative events that we are experiencing are making the bear market worse.

From his tweets on Twitter, we can see how stressful he is now. I think he is frustrated with the current situation. He is now facing not only lawsuits but the aftermath of the FTX case, it has taken a toll on him mentally.

Difference to other corruption scandals is that everyone is watching this. In fact so many that there will most likely be a movie about this as this is so surreal, add polyamory to the mix and it sells. And what i mean by this is that corruption happens in shadows. These people don't want their connections to be known or their faces seen in that context.

Compared to FTX where everything is out in the open. Donations were public knowledge and therefore connections are clear. Someone connected donations doesn't owe Sam a thing. And it's not like they would get more money from him if he would get less charges. Sam is going to be broke. Money flow is off and under a magnifying glass from that direction. If someone tried to pull some strings for him now he/she would risk their whole career if caught on doing that.

So WHY would they help him?

We can assume the best about him since he truly do truly helped a many individuals this time and FTX wasn't straightforward when they're nearly tumbling down.
On the off chance that it's not for him, there could be more individuals that will store to FTX and it very well may be huge abundance and life reserve funds that will be away for its whole in the event that he hasn't uncovered them.

https://www.forbes.com/sites/davidjeans/2022/11/18/queen-caroline-the-risk-loving-29-year-old-embroiled-in-the-ftx-collapse/?sh=62d0605f791f
‘Queen Caroline’: The ‘Fake Charity Nerd Girl’ Behind The FTX Collapse
"Alameda Research CEO Caroline Ellison is a math whiz who loves Harry Potter, fringe political philosophy and taking big risks. She is also one of the supporting players in Sam Bankman-Fried's FTX catastrophe."

quite confusing. but they must properly explain how to recover FTX which was already partially taken by hackers. Even though they are a major exchange under Binance, do they not intend to make their reputation better after the incident?

Her Twitter chats don't prove her innocence, do they? It doesn't matter how many threads are created on Twitter, users who are victims of it only ask for one thing which is asset return and their problem is solved with FTX. Meanwhile, all FTX staff will still be punished for the act. Unfortunately, day by day this case is getting biased and Sam doesn't really come to the surface. Are law enforcement officers there also being bribed to remain silent? Everything Sam did was planned from the start of the launch of the FTT where the value turned out to be zero, manipulating large amounts of money.

Am terribly surprised at this useless tweet. imagine him being all casual about such a delicate situation. I can't understand what this tweet supposed to mean.
Clearly this guy is not bothered about the hardship he subjected investors to, him being a parasite is an understatement. He is not mature enough to handle a billion dollar company.
If there are no regulations, tell me why this attitude will not keep occurring and the culprit walking away with a huge smile on their face. pathetic.

Maybe SBF knows this kind of situation will happen as soon as we discovered his fraud actions. I hope that he knows that there is a high chance that he will go into jail and we hope that all of his assets will be compromised and be rewarded to the victims. I honestly don't know what is the latest news about SBF case but surely he will pay his mismanagement and fraud actions. If he keeps doing this his guilt will hunt him unless he doesn't have a guilt. His victims is literally begging him to return their money but yeah every ways that SBF did is fail like borrowing money.

https://www.bloomberg.com/news/articles/2022-11-23/ftx-founder-sam-bankman-fried-says-he-ll-speak-at-new-york-times-dealbook-summit
Sam Bankman-Fried to Speak at New York Times DealBook Summit
"Bankman-Fried plans to speak on Wednesday with Times’ Sorkin
FTX founder has limited his public appearances in recent weeks
Prosecutors and regulators including the Securities and Exchange Commission and Commodity Futures Trading Commission are now seeking help from new FTX Chief Executive Officer John J. Ray III. He took over as part of its bankruptcy proceeding and is navigating what he described as “a complete absence of trustworthy financial information.”"

I'm sure at this time SBF already knew that FTX was immediately bankrupt so he chose to register bankrupt in court, billions of money disappeared and made him get a great pressure and the best solution was to declare bankrupt So he displays sad things while laughing.

Basically, the main reason is the fact that they can be. I also would like to point out that we feed their greed and that is causing a lot of trouble for the crypto world.

If we only invested into the top 20, and here and there decide which ones to be out of top 20 and new ones to get in, but do not invest into anything else, that means about 100 billion or so dollars would be going back into top 20, that would make the prices of everything go up insanely high, that’s like adding more than 10% to each of them and in a single move, and that would be a HUGE thing when the prices go up during the bull run. That’s why the devs do it, they can make money from people who still invest into shitcoins instead of top 20.

Now SBF is on house arrest and being meeting with movie Director and author Michael Lewis to make a movie about him. This makes sense he is going to need all the money he can get for his legal case. 
He bought Robinhood shares worth $546 million with money from Alameda research.  I do not think he is going to get out of jail for a long time. And this is the right decision to make.

"Amid death threats and sudden global infamy, accused FTX fraudster Sam Bankman-Fried and his parents have turned their posh Stanford home into a heavily guarded fortress. The family is shelling out roughly $10,000 a week to have a private Bay Area security firm patrol the leafy, 3,000-square-foot residence with several armed guards working around the clock" - https://nypost.com/2022/12/27/ftxs-sam-bankman-fried-pays-10k-a-week-for-armed-security/

Are there death threats for them? Well, it's the US so I doubt that someone has the audacity to that to them, so this is just a exaggeration on their part to have this private guards that can rival even the President? Lol,

They are really paranoid as this point, and that is the consequences of SBF actions, now he is afraid of his own life and his family too.

About the movie deal though, yeah, probably it will make a lot of money for him and he really needed every help he can get.

But you can't blame the millions of crypto enthusiast to trust their money to a person like SBF because at that time they are really doing good, even becoming the second largest crypto exchange behind Binance.

But there is a big story behind that we didn't know, until it was too late, no one see it coming maybe except SBF and his ex-gf and his CFO. Now the 3 have been indicted and hopefully all of them will go behind bars for the crimes that they have committed.

Considering the fact that so many people were deceived, I believe that there will be enough people who want to take revenge on Sam Bankman-Fried for their losses. Therefore, such protection is not something excessive. What is surprising in this case is that even during the investigation, he continues to spend the money of his deceived investors.

    As far as I know, SBF bailed in the amount of 250M$, he was allowed to bail but he cannot leave the country until the case he is facing is finished.

   This is the news I came across about SBF, somehow the money he has is still doing something, but of course, we will still look at the next chapter about this thing that is happening to him, which after all, the amount of the bail is very large paid for it.

SBF did not post bail. 250 million worth of his house in the Bahamas, which he bought with ill-gotten money. If he does not appear in court, he will lose his property. This is the kind of circus that's going on in the US right now. All major scammers are out on bail.
https://decrypt.co/117814/how-sam-bankman-frieds-250-million-bond-works

I don't really have the exact timeline of the events happening at and with FTX at the top of my head right now so i can not really say if this tweet of him was made when it was already clear that FTX would go bankrupt or if this happened still before that. No matter when exactly this tweet was made it still leaves a very sour taste to everyone that is involved in the crypto market. The people that were hit the most were obviously those that were invested into FTX or that had funds at FTX. Most of those people lost all of their funds. This is something that can ruin the lifes of people and to make such a tweet then is just a very bad taste.

Maybe they are that paranoid but to me this seems like just an attempt to sell himself as the victim, his defense is most likely going to paint him as a naive CEO which trusted the wrong people and push the blame on someone else, so all of those guards outside his residence are there to give the impression that he is being forced in such a situation and generate sympathy for himself, will this work? I doubt it but SBF is going to try anything to save himself from spending the rest of his life at prison.

Yes, that's also what I think too as well, he will sell himself as the victim here with numerous death threats and then hiring people to protect him. So still he is going to feel secure and still has his pride inside of him. This kind of people doesn't have emotions or feelings, all they wanted is fame and money.

I do hope that the full justice will be achieved here, because for sure he can afford expensive lawyers in the financial world that will defend him at all cost and portray him as some innocent individual who has been manipulated by some people behind.

But if two of his employees are going to testify against him, maybe the case will really have that weight and SBF can't get off the hook and probably be the Bernie Madoff of crypto industry.

https://nypost.com/2022/12/27/sam-bankman-fried-met-with-big-short-author-michael-lewis/
"Sam Bankman-Fried met with ‘Big Short’ writer Michael Lewis during house arrest
Currently holed up at his parents’ home at Stanford University after being released on $250 million bail last week following being slapped with federal charges of financial fraud and money laundering, Bankman-Fried was visited by bestselling author Michael Lewis."
Soon Sam will be a movie star ;D

I certainly do not believe how SBF is being treated for not having to be in prison right now. I seriously think that he is somewhat getting that privileged treatment, and why is he being overly protected? The world absolutely doesn’t revolve around him.

I read four times in 2022 he met with President Biden’s White House aides. I am really pondering what that was all about. Then SBF cashed out almost $700,000 being on house arrest, after leading us to believe on the media that he has no money, and he may not spend more then $1000 each day.

Well this is no surprise SBF pleads not guilty in the FTX fraud case in his Tuesday hearing. His trial date is noe set for October 23, I can not wait to read on it.

And do you remember his Robinhood shares? Now the United States Deaprtment of Justice has seized his shares worth $575 million.

SBF is a typical perpetrator. Whether it is for personal interests or political interests, he has completely forgotten the interests of users. Some say it's a parasite, some say it's a criminal. I want to say that SBF relies on some kind of background to unscrupulously treat others as fools.

https://www.cnbc.com/2023/01/03/sam-bankman-fried-pleads-not-guilty-to-fraud-charges-in-new-york.html
Sam Bankman-Fried pleads not guilty to federal fraud charges in New York
"Former FTX CEO Sam Bankman-Fried pleaded not guilty to federal charges in New York on Tuesday, less than two months after his crypto empire collapsed.
Charges against Bankman-Fried include money laundering, conspiracy to commit wire fraud and securities fraud.
The case was assembled quickly by prosecutors from the Southern District of New York, who gained the cooperation of Bankman-Fried’s close lieutenants Caroline Ellison and Gary Wang."

It was announce in Court Filings that between January and September 2022 FTX spent $40 million hotels, flights, and food. This is almost $4.5 million a month!
$15 million of this was for luxury hotels and accommodation. There was $5.8 million just on Albany hotel which was also the home for SBF $30 Penthouse. He spent about $7 million on on catered food and his entertainment. 

Now SBF going to prison is his greatest protection. Do you want to understand a truth? Being protected is not restricting freedom. After all, SBF is at the top of the food chain, so the makers of the rules of the game, far from the coin game players, have more right to speak and freedom.

Dang, that's a lot of luxury trips for SBF and the gang. Am I watching another real life of the previous life of Wolf of Wall Street? I guess he's got that as an inspiration and spent people's money on all of that luxurious trips.
The dude enjoyed his life too quick and short and he's going to pay for all of it, all of those trips that cost him a millions, I mean people's money will certainly get justice with it.

If bankman would be on top of the food chain he wouldn't be under house arrest at all.

However they mystically now found 5 billion of that lost money so i am guessing sentence is going to be reduced a lot if people get their money back.
https://beincrypto.com/ftx-recovers-5-billion-in-crypto-will-customers-get-their-money-back/

Man, and i thought i was good at losing things, but i have to admit it takes some work to lose and find 5 billion worth of assets.

https://www.washingtonpost.com/business/2023/01/11/ftx-recovers-5-billion/
Collapsed cryptocurrency exchange FTX says it has recovered more than $5 billion worth of cash and crypto assets it may be able to sell to help repay customers and investors, an attorney for the company told a Delaware bankruptcy court on Wednesday.

Company advisers have identified a significant amount of crypto that will be more difficult to sell without depressing the market price of those digital tokens, FTX attorney Andrew Dietderich said. The company is also trying to sell off other “nonstrategic investments” made by FTX that have a book value of $4.6 billion, he said.

FTX Pre-Mortem Overview (https://sambf.substack.com/p/ftx-pre-mortem-overview)

Three things combined together to cause the implosion:

a) Over the course of 2021, Alameda’s balance sheet grew to roughly $100b of Net Asset Value, $8b of net borrowing (leverage), and $7b of liquidity on hand.

b) Alameda failed to sufficiently hedge its market exposure.   Over the course of 2022, a series of large broad market crashes came–in stocks and in crypto–leading to a ~80% decrease in the market value of its assets.

c) In November 2022, an extreme, quick, targeted crash precipitated by the CEO of Binance made Alameda insolvent.

And then Alameda’s contagion spread to FTX and other p

Well SBF claiming that Alameda Research was the victim of a coordinated attack and not his fault. He is sticking with his story that didn't steal FTX funds. I do not know if I can trust anything this man says buy he is staying with this defense claim.
 
SFB also is saying that FTX US is solvent with $350 million in cash for paying back its victims. Something positive finally if this is true some will benefit from this greatly. We will have to wait and see if he can be trusted ever again and will be able to pay back customers.

What could be believed from his words, everything was clear, what kind of coordinated attack he meant.
I think it's only natural that there are many people who attack because there are so many flaws in the management of FTX itself, and if it is not done soon it will become an even bigger culprit in the crypto market in the future.

I haven't really been following the news about the progress of the SBF case lately, if it is then I think that is a good thing for his customers and I hope it doesn't lead to false hopes being deliberately set up to keep him from going to jail.

I don't think the Democrats who returned the donations from the SBF wanted their reputation to be eroded by the SBF to protect their name from negative public sentiment.

Not sure though if that defense will stick to the court, it was obvious an mismanagement from him and his other top brass. And I think they know what they are doing is wrong and yet they proceeded to play with investors money, loaning and borrowing and even uses it for personal used.


Well it's job of the court now which assets can be liquidated to pay their customers.

We can't take SBF word for it, they have to dig deeper on how much money they can recover to be able to pay back customers because the amount is really huge and I doubt that even if all assets of SBF has been liquidated, it will still fall to the huge money they scam their customers.

He fails and then blames others, that is the behavior of a scammer, no scammer has the courage to take responsibility for himself. He attacks other projects and companies, and that's called business competition, but in the end, he can't escape having others attack him, he's a loser and scammer.

Whether or not FTX gets their assets back, the victims of FTX.us are still fully compensated because they have a business license in the US, so they have to be responsible to US users if they don't want to go to jail.

-cut-
First thing that made me cringe. Really solid way to avoid responsibility. Makes me think SBF maybe wasn't so sorry then.
Now i don't know if it was legal or responsible for CZ to call out that they are going to dump all their $FTT because FTX was shady and insolvent. It sure as heck doesn't sound like anything legal.

But this response is a 2,600 word essay of trying to explain what happened and it basically can be summarised to "i didn't do anything wrong, here's the data".
I thought his legal team would have told him to shut up by now. However as i am not a lawyer i need to hear experts before jumping to conclusions.

https://www.cnbc.com/2023/01/17/ftx-says-415-million-of-crypto-was-hacked.html
FTX says $415 million of crypto was hacked
FTX has identified about $5.5 billion worth of digital assets for recovery, a number that includes $415 million in “hacked crypto.”
FTX’s new CEO John Ray said in a statement that it’s taken a “Herculean investigative effort from our team to uncover this preliminary information.”
FTX’s advisors are also reviewing a $2.1 billion share repurchase payment from FTX to crypto exchange Binance in the third quarter of 2021.

Remember when SBF said he was 'broke' with only hundred thousand dollars? Well what do we know this is all a big lie and now the Feds are cracking down on him.

A small bank with only 3 workers has now turned over get this $50 million of SBF money. It is interesting to note that Alameda Research bought an $11.5 million stake in the same bank. This was more than double what the bank is even worth.

https://www.theblock.co/post/205859/ftx-creditor-list-includes-star-athletes-crypto-firms-state-governments
FTX creditor list includes star athletes, crypto firms, state governments
"Companies that offered their services to bankrupt crypto exchange FTX are included on the creditor list, which lists vendors as well as business partners. Digital service providers are joining the line to get back a piece of their funds, including giants like Amazon Web Services, Apple, Meta Platforms, LinkedIn, Twitter, Netflix and Adobe.

From the crypto industry, names like Coinbase, Binance Capital Management, Chainalysis, Yuga Labs, Doodles, BlockFi and Silvergate Bank made the list. News publications include The Wall Street Journal, CoinDesk and Benzinga. "

Federal prosecutors think that SBF should be forbidden to use encrypted messaging software like Signal. They are saying he is using them to send messages for witness tampering.

This all came form SBF reaching out to a potential witness his his trial. It was General Counsel of FTX US. He is also in contact with other current and former FTX employees, which is not allowed from the judge. The government wants to prevent 'obstruction of justice'.

https://decrypt.co/120260/ftx-sister-firm-alameda-hits-bankrupt-voyager-digital-446m-lawsuit
FTX Sister Firm Alameda Hits Bankrupt Voyager Digital With $446M Lawsuit
"Trading firm Alameda Research has filed a new lawsuit seeking to recover about $445.8 million from the bankrupt crypto broker Voyager Digital.

Sam Bankman-Fried, the disgraced founder and CEO of FTX, also co-founded the trading firm in 2017. A day before FTX filed for bankruptcy in November 2022, it emerged that the crypto exchange had lent customer funds to help prop up Alameda Research."

What are the latest updates to SBF? as far as I know he is under house arrest now, and also bailed in the amount of 250K$ or 250M$, Please correct me.

I just believe that SBF will be held accountable for the scandals he did in FTX. What he did was not a trivial amount that affected the market in truth. Where a lot of ftx users has been robbed by this person actually.

It's $250 Million and his parents helped him with it. If he so much tries to flee and hide, his parents would have a headache for it as their house was the one that is used to secure that $250 million bond.
SBF also continues to state that he no longer has millions and only has close to $100k in his bank account. Yeah right.  ::)

he may look like someone who hasn't gotten his shit straight but he isn't dumb enough. he does have money. he holds politicians by the balls so it's not going to end up as he'd rot in prison. we all know what will happen to people with money and connections to the high place. they can extort each other so they either get out free or commit suicide like Epstein.  as for now there is no cause for him to be dead yet.

Technically his parents did it using their California home as collateral. Usually 10% of the bond amount so I'm guessing their homes are worth $25M+.
Look at the people, the parents are involved, come on, they all know what they're doing, poor baby doesn't want to be locked up.

Well some good news for SBF if we can call it this. Famous Hollywood Actor Mark Wahlberg’s media production company, Unrealistic Ideas are planning a documentary on crypto exchange FTX and Binance.
This documentary will be about SBF and Binance founder Changpeng Zhao relationship. I wonder how much money SBF will earn from this. Even if it is millions of dollars, he maybe will not get to ever spend it if he goes to jail for a long time.  

Well technically the one paying would need to prove the origin of that money because FATF travel rule. Sam can't just put millions to his parents account now and make officials to believe that money magically appeared to exist. If that money was washed and originated from Sam, don't you think that any officials wouldn't be interested looking into that? Maybe it gets revealed later on.

Just a while ago $70m of Sam's money were found in a small bank, so i am interested to know where else has he stashed them.

https://www.bloomberg.com/news/articles/2023-02-02/silvergate-faces-doj-fraud-probe-over-ftx-and-alameda-dealings
Silvergate Faces US Fraud Probe Over FTX and Alameda Dealings
"Bank hasn’t been accused of wrongdoing; probe in early phases
Silvergate shares tumble more than 20% in extended trading
US prosecutors in the Justice Department’s fraud unit are looking into Silvergate Capital Corp.’s dealings with fallen crypto giants FTX and Alameda Research, according to people familiar with the matter."

https://cointelegraph.com/news/silvergate-faces-doj-investigation-over-ftx-and-alameda-dealings-report
Silvergate faces DOJ investigation over FTX and Alameda dealings: Report
"The crypto bank hasn’t been accused of wrongdoing, but prosecutors want to see how deep the dealings between the crypto bank and FTX went."

I keep hoping he will be sent to jail for a long time. These cases can take a long time though, we can only hope that justice is done & he is imprisoned for the fraud he carried out that ruined so many lives.

I know he made large donations to some of those in power but surely that’s not going to save him. The only way he avoids a long term is if the whole thing was a ploy by the FED to create this drama to create a perfect reason to regulate crypto hard. In that case he would have essentially been a paid actor, a plant.

I also thought about that hypothesis, the crash of FTX was pre-planned and would become the perfect pretext to pave the way for the government to enter the market and take control of the entire market. They've let us free for so long and lost billions of dollars in taxes, it's time for them to take over. And for a perfect takeover, there must be a reason, and FTX is chosen as the scapegoat. The SBF impeachment trial has been adjourned to October of this year, and this is an excuse because we all know that time is the medicine that makes us forget everything. I wouldn't believe the SBF would be properly punished.

Well now FTX advisers are saying it handed out inappropriate funds as donations. It has sent confidential letters to politicians asking for donations back. They can not be serious with this?

Even now when SBF is in big trouble, that would look so bad for the politicians. If the money is not returned, they are saying the recipients will have to also pay interest costs.  Also FTX donated money to student scholarships and want it back also.

Inappropriate funds huh. I think this shows how confident they are before, that their company is already earning a lot that they can call huge funds as inappropriate funds anymore but now they are regretting it and they want to take it back but I think that's hard and it may not be possible because they already said in the past that it was a donation and not some kind of a loan where they will also demand for an interest rate.

I don't think they are joking when they say this because but they mean it because they are now in trouble. Politicians won't need to feel bad about this because they are not guilty on here but it was SBF who made all this mess.

SBF donated huge sum of amount to the current government regime that is why he is very confident with this kind of crime.
I know thwt by any means even though he might ended up in prison, his punishment will not be much.
I am very sorry for so many investors he reaped out with getting there funds back.

I totally understand that they have to ask it back but as some of it has given to charities and some already spended, so good luck with those.
I am guessing there could be a court order preventing to spend any more money if they find a judge willing to do that. I am guessing politicians would want to give the money back to seem like decent people for the voters.

https://www.crainsnewyork.com/finance/lawsuit-accuses-signature-bank-overlooking-ftx-fraud
"Signature Bank was accused in a lawsuit by an investment firm of facilitating the FTX collapse by allowing the now-defunct crypto exchange to commingle customer accounts with its blockchain network.

Signature did this even though it had observed suspicious FTX transfers through its Signet blockchain payment network, Statistica Capital Ltd. said in a complaint filed Monday in federal court in Manhattan.

The bank said in December intends to shed as much as $10 billion in deposits from digital asset clients as it embarks on a widespread pullback from the cryptocurrency industry in the wake of the FTX blowup. Deposits from FTX represented less than a 10th of a percent of the bank’s overall deposits as of Nov. 14, the company said in November."

Due to the FTX scam, some people took the path of suicide to be from the desperation. Many have gone bankrupt who once had great wealth. SFB is making people into scapegoats by trapping them ‍and he is going crazy with that money but that can never be accepted. If there is a political hand and he is ordered to reduce the punishment then the victims will not get justice.

Well, there was alot of question where he got his bail money from. It was lot of speculation how he could afford bail for $250 Million.

But now, we know it was funded by 2 men named Larry Kramer and Andreas Paepcke. Larry Kramer is the former Dean of Stanford Law School. And Andreas Paepcke is a Stanford Research Scientist. 

News reports are that FTX saying $8.9 billion in customer funds are missing. Alot of it is from Alameda Research which borrowed $9.3 billion from its customers before FTX filed for bankruptcy.

This is the first time FTX has revealed this type of information. https://abbonews.com/ftx-debtors-say-8-9-billion-in-customer-funds-are-missing-abbo-news/

Thanks for the update, and as what we have suspected though, they really play with the investors money and move it around for them to take advantage until it went up of control and blow up in proportions without having had any clue on what is going from behind.

This is really misappropriate of funds in the side of SBF and hopefully justice can be served and him going in jail for a long time because of this.

We are talking about billions here, and many lost their precious money from SBF fault.

SBF trial is supposed to begin on October 2. But his lawyers want to push that back. This is because there is evidence they need from federal prosecutors and to prepare properly for his defense.

I still can not believe this man is out of jail on $250 million bond on house arrest. He needs to be careful because judge thinks his proposed bail conditions is too 'cushy' https://gizmodo.com/sbf-sam-bankman-fried-ftx-judge-bail-rules-too-cushy-185021333

It has been announced that SBF received $2.2 billion from working at FTX. Most of these funds came from Alameda Research.

Alameda former CEO Caroline Ellison received $6 million. Total money transfers were in total $3.2 billion.

https://www.bloomberg.com/news/articles/2023-03-16/ftx-administrators-say-bankman-fried-got-2-2-billion-mainly-from-alameda?leadSource=uverify%20wall

The price of crypto has helped FTX recover $7.3 billion dollars in assets since they filed for Bankruptcy. I did not know this only customers in Japan was allowed to get access to their funds.
FTX's new CEO John Ray and FTX attorney Andy Dietderich pointing their fingers at SBF. But FTX says it might open up the crypto exchange again.  https://www.reuters.com/technology/bankrupt-crypto-exchange-ftx-has-recovered-73-bln-assets-attorney-2023-04-12/

Well, I read in this news that SBF was in a serious depression.   
He can't prove it. He also admitted to smoking marijuana and has lost a lot of money in the last 4 years. The news was sensational.

Well this is a big turn of events now. SBF is asking his Judge to drop all the criminal charges against him from FTX case. The charges of securities fraud or money laundering he did not ask to be dropped.

Will this man only get charged for these small crimes? https://www.reuters.com/legal/indicted-ftx-founder-sam-bankman-fried-urges-court-toss-charges-2023-05-09/

Well this is getting interesting for SBF. The US Department of Justices has sent letters to lawmakers and asking for donations from FTX to be returned. This is more then $40 Million that DOJ is asking for back from Political contributions in 2022.

https://blockworks.co/news/doj-claws-back-ftx-donations

Well it is only getting worse for SBF. Now he is going to be sued by FTX for the $250 Million he earned with the company. But he does not have this money so I am unsure it is ever going to be recovered.

https://cryptopotato.com/ftx-seeks-to-claw-back-250m-from-sbf-and-execs-in-new-lawsuit/

Well still now it is looking like things are not going well for SFB. He is blaming the crimes of fraud on advice from a law firm.

It is from legal advice from 2017 to 2022.He just does not want to accept any of these responsibilities facing him. https://fortune.com/2023/05/30/sam-bankman-fried-ftx-fraud-law-firm-advice-defense/

SBF trial will be split up in 2 different proceedings. This is because they are worried that 5 of the 13 charges will be held up by court in the Bahamas.
He pleaded not guilty to all of these charges. There are 3 former FTX employees that have already pleaded guilty to similar charges.
https://www.nytimes.com/2023/06/15/business/sam-bankman-fried-charges.html

Well now SBF is being blamed for $bald rug poll. The devs pulled all the liquidity and meme coin went to zero dollars.
And blockchain detectives are now saying the wallets used for this are owned by SBF.  Cinneamhain Ventures partner Adam Cochran says he is 99% sure it is either someone from Alameda, FTX, or SBF himself.
https://finance.yahoo.com/news/blockchain-sleuths-bald-liquidity-rug-010127691.html

Well now SBF is going to pay Expert Witnesses alot of money to testify in his favor. He is going to pay some of them $1200 for 1 hour to help him in his trial.

Law professor Bradley Smith is also former commissioner of the Federal Election Commission. He said this is how much SBF is going to pay him.

https://www.businessinsider.com/sam-bankman-fried-expert-witnesses-trial-ftx-2023-8

Well now it is only getting worst for SBF. The criminal case is less then 1 month away for him. But he has lost his possibility to be freed from jail right away.

This is because the judge believes he tampered with witnesses at least 2 times.

https://www.reuters.com/legal/bankman-fried-loses-bid-get-out-jail-appeals-court-will-hear-case-2023-09-06/

Apple secures rights to book on Sam Bankman-Fried for $5M: Report
“Big Short” author Michael Lewis’ book on the former FTX CEO is scheduled to be released on Oct. 3, the day SBF’s criminal trial in New York begins.
https://cointelegraph.com/news/apple-secures-rights-book-sam-bankman-fried
"Multinational technology company Apple has reportedly paid $5 million for the rights to author Michael Lewis’ upcoming book on former FTX CEO Sam “SBF” Bankman-Fried following a bidding war.

According to a Sept. 7 report from The Ankler, Apple secured the rights to the book Going Infinite: The Rise and Fall of a New Tycoon, which is set to be released on Oct. 3 — the start of SBF’s trial in New York. Lewis suggested an October publication date at the Bitcoin 2023 conference in Miami, aiming for the beginning of the former FTX CEO’s criminal trial"

And now FTX has been given permission to sell $3.4 Billion of its crypto assets that was frozen. It can sell $100 Million a week and to increase to $200 Million a week.

$1.1 Billion of SOL, $560 Million of BTC, $192 Million of ETH, $137 Million of APT, $119 Million of XRP, and $46 Million of STG.

https://bitcoinist.com/ftx-court-gives-green-light-3-4-billion-liquidation/

This is what I've been worried about for a long time. I think FTX has some backup behind it. What FTX has done is like something that was planned. Or at least plan to implement it.
I also thought that there would be no harsh punishment to be had. It could have been something like a prison sentence for several years but it turns out he is still free outside prison.

Well now it is just getting even worse for SBF. And now his parents are in the news. They are being sued by FTX that want some of the $26 Million in properties and gifts they got from the exchange.

https://www.nytimes.com/2023/09/19/business/ftx-sam-bankman-fried-parents-sued.html

And now the father of SBF is in the news for a bad reason. Joseph Bankman is being accused stealing millions from the FTX.

It is being said he stole money from a 'dark money network'. This network being accused of donating billions to liberal politics.

https://www.dailymail.co.uk/news/article-12545365/FTX-Sam-Bankman-Fried-Arabella-Advisors.html

Good alibi but that alibi won't be taken by the majority. The connection is obvious and so this is now becoming a family affair. The once so called genius that everybody thought literally used his intelligence to pass on the wealth of their users to their families.

Whoever does these investigations and finding out all of these huge purchases being done by their family should be given a raise. These are the people's money that they've stolen and they thought that they can getaway with it but no way.

https://finance.yahoo.com/news/silver-point-diameter-scoop-cheap-175533797.html
https://www.bloomberg.com/news/articles/2023-09-21/silver-point-diameter-buying-cheap-ftx-claims-in-lehman-redux
"Silver Point, Diameter Scoop Up Cheap FTX Bankruptcy Claims in Lehman Redux
Investors have scooped up at least $250 million of FTX claims
Attestor, Hudson Bay have also taken positions in the debt"

___
Cunning manipulators buy assets cheaply, which means there will still be a to the moon.

Well now it seems like the parents of SBF are being blamed. And the former sec official wants them charged also. This is what former SEC official John Reed Stark is asking for federal agencies.
He says he is surprised they have not been charged even yet. https://beincrypto.com/sec-ftx-sam-bankman-fried-parents/

Today starts the trial for SBF. For his crimes with the ftx exchange SBF is now facing 110 years in prison if he is convicted on the charges.
It is just reported that SBF wanted to pay Donald Trump $5 Billion for him not to run for the US president. I want to know if that will be talked about today in his trial.
https://www.independent.co.uk/news/world/americas/sam-bankman-fried-trial-ftx-b2422648.html

Well the trial of SBF did start yesterday. And some of his former friends and workers will be there to give testimoney against him.
Caroline Ellison Gary Wang, Nishad Singh, Andria van der Merwe, and Peter Easton all worked for FTX or Alameda Research.
https://www.coindesk.com/policy/2023/10/02/sam-bankman-frieds-closest-friends-will-testify-against-him-heres-who-else-well-hear-from/

Some of my friends lost more than 10M dollers. Because after the FTX incident, FTT token and solona ecosystem really dumped hard. So they have to sell the tokens around 1-2$ per FTT token. Now I can see there is a reclaiming process is started. but what happened to the those who sold the crypto at that stage? Nothing

https://cointelegraph.com/news/class-action-suit-filed-against-binance-alleged-harm-ftx-collapse
"A class-action suit was filed against Binance.US and Binance CEO Changpeng Zhao on Oct. 2 in the District Court of Northern California, alleging various violations of federal and California law on unfair competition for attempting to monopolize the cryptocurrency market by harming its competitor FTX. The suit was brought by Nir Lahav, who is identified only as a California resident.

At issue are posts made by Zhao on Twitter (now X) in early November on the eve of FTX’s collapse. The posts were made in conjunction with the decision by the defendants to liquidate their holdings in the FTX utility token, FTT (FTT), on Nov. 6. The plaintiffs estimated that Binance owned up to 5% of all FTT tokens."

Well now the SBF lawyers are saying the man is nothing more then a 'math nerd'. In the opening arguments for his case they are saying the failure of FTX is to be blamed on other people.

He says the blame is on his ex girlfriend Caroline Ellison who was the CEO of Alameda. And also to blame is Binance CEO CZ since he was in charge of the FTX bank.

https://cryptopotato.com/bankman-frieds-lawyers-blame-his-ex-girlfriend-and-cz-for-ftxs-collapse/

Well now in the case, it is the time for SBF ex girlfriend Caroline Ellison to speak about SBF. The former Alameda Research CEO and prosecution's star witness said some things.

She said Alameda borrowed $10 Billion from FTX but could not repay it. And then she blamed Binance CEO CZ tweets for FTX failing.

https://www.ibtimes.com/caroline-ellison-says-binance-ceo-contributed-ftxs-collapse-3715134

Well this does not make any sense for me. The former Alameda CEO and ex girlfiend to SBF Caroline Ellison says they wanted to keep price of Bitcoin down below $20,000. 

I do not know why they would want to do this.  They had so much customer funds now makes me want to think they did all this on purpose now.

https://www.thestreet.com/crypto/markets/ex-girlfriend-says-sam-bankman-fried-ftx-founder-illegally-manipulated-bitcoin-price

After his girlfriend's testimony, I think SBF is doomed. I don't know if SBF has some trick up his sleeve, but for now, it is not going very well for him. It would probably be good for him to start thinking about the deal with the prosecution for a lesser sentence...

It's the second week of the trial, and things are getting more interesting. I doubt that SBF can get out of this, so the only question is what punishment he will receive. What do you think about that?

Sorry to hear this mate. It really pains me that the dude didn't want to take accountability for what he has caused so many people. You see that's why I would use exchanges that are mostly regulated and follow security measures to be just in case, 80% safe

Yes I think this is true you are correct. And now more she is talking it is only getting worst for him and his chance to be innocent.
She now has said SBF tried to unlock $1 Billion of funds using Thai prostitutes identities. He bribed Chinese officials with $100 Million.
https://cryptopotato.com/caroline-ellison-says-sbf-tried-to-use-thai-prostitute-accounts-to-unlock-frozen-1b/

Well there is a bankruptcy firm that will decide about future of FTX before end of this year. And there is 3 bidders that FTX is listening to proposals from to restart the exchange.

FTX has recovered already $7 Billion of assets since it did file for bankruptcy last year. https://finance.yahoo.com/news/ftx-negotiating-three-bidders-restart-170159410.html

Well after lots of testimony from SBF ex girlfriend Caroline Ellison now it is his time to testify. He did testify this past Friday and he talked about that FTX borrowed money from Alameda.

SBF also said he was a introvert and this is why he looked and did dress how he did. https://www.coindesk.com/policy/2023/10/27/sam-bankman-fried-testifies-jury-fraud-trial-ftx/

Well the testimony for SBF is not going so well for him. Yesterday in court he said more then 100 times 'I don’t recall', 'I don’t specifically remember', and 'I don’t know exactly what you’re referring to'.
He is saying he does not remember saying things. I do not think the jury is going to believe this man. He can be facing a life sentence.
https://nypost.com/2023/10/30/news/sbf-claims-i-dont-recall-100-times-in-court-then-admits-his-hedge-fund-had-special-access-to-investor-money/

Well SBF is found guilty of all the 7 charges of fraud and conspiracy yesterday. It was after 1 month of trial and then his 15 days of testimony.
His sentencing date is on March 28 of next year. He might face maximum of 115 years in prison. I think we are all happy that it turned out for him like that.
https://www.theverge.com/policy/2023/11/2/23943236/sam-bankman-fried-trial-sbf-fraud-guilty

When all this is ends and all the arrested assets belonging to the FTX will be sell on the market, i think this will probably lead to a significant collapse of cryptocurrency prices. Perhaps this will happen just in the spring of next year, after the SBF have a final episode. In any case, we should be prepared for the fact that the bailiffs will begin to sell FTX assets, and it will definitely be a big event on the cryptomarket.

Well SBF is going to face 115 years in prison. But there is 2 lawyers that do think it is going to be less time then that. A lawyer who worked for the US Department of Justice named Renato Mariotti thinks SBF will serve only 20 to 25 years in prison.

And another lawyer named Kevin J. O’Brien thinks SBF only will serve 15 to 20 years. It is still a long time but I think people want him to serve a life sentence. 

https://cryptoslate.com/sbf-will-likely-serve-25-years-rather-than-max-sentence-former-doj-prosecutor-says/

SBF is now giving his crypto advise to guards in the prison. He shares his unit with Mexico’s former secretary of public security Genaro García Luna. This man was convicted of helping Mexican cartels smuggle cocaine into the U.S.

And also former President of Honduras Juan Orlando Hernández. He is waiting his trial for drug trafficking and firearms charges.

https://finbold.com/ftx-founder-gives-crypto-tips-to-guards-behind-bars/

What ever advice that he is currently giving inmate like him who are awaiting trials should be of his own concern because inorder for him to pull off such a scandal on the general public, for me I think it's high time his case even be addressed so that the crypto community can see to the judgement that will be given to this man. The justice system is somehow when it comes to matters like this and I just hope that with influence of SBF that nothing sleeps under the table when the due time for impounding judgement begins.

SBF is a liar and what he has done is unforgivable. Many people lose their hard earned money and life savings in FTX. That person should be in jail for the rest of his life though I heavily doubt that he will face justice. The DOJ is already favoring him for his crime due to his influential parents. His crime should be an example in cryptographic history. If binance and CZ face a high penalty fine for their crime when they didn't lose any investors money then what SBF should have as punishments?

Breaking News: Sam Bankman-Fried is now trading fish to pay for services in prison

https://i.insider.com/655f757f4ca513d8242e131a?width=1300&format=jpeg&auto=webp

It didn't take long for the former crypto-billionaire Sam Bankman-Fried to learn the economic system of New York's Metropolitan Detention Center.

The disgraced founder of the crypto exchange FTX has been keeping busy by swapping food items in exchange for services as he awaits sentencing on seven felony counts that include wire fraud and conspiracy to commit money laundering.

The new polished haircut he has been seen with in New York courtrooms appears to be thanks to an inmate. In a Thursday report, a source told The Wall Street Journal that SBF paid for a haircut with packaged mackerel, a type of pelagic fish that is a choice of currency among inmates.

It's no surprise that the former trader would quickly catch on to the commodity of choice in his new environment. He has been a professional trader for much of his career. In 2013, he got his first intern gig at Jane Street Capital, swapping exchange-traded funds before cofounding his crypto-trading firm Alameda Research in 2017. A year later, he figured out how to arbitrage bitcoin between the US and Japanese markets.

The fish, popularly referred to as "macks" among inmates, had been the choice of currency in federal prisons since 2004 after cigarettes were banned, sources told the Journal in 2008.

The formerly incarcerated attorney Larry Levine accepted it as a form of payment from fellow prisoners he represented while serving his own sentence at the Lompoc correctional institution in California, the Journal previously reported. He then used them to pay for personal-upkeep services such as beard trims and shoeshines from inmates, the outlet added.

Global Source Marketing, a supplier of the fish, told the Journal in 2008 the trend had become so popular that it felt the increased demand.

There's economic logic behind the trend. Products that have steady value, such as certain food items and stamps, are used as a steady means of exchange to substitute for currency, which inmates cannot access. Food items such as mackerel and tuna are stable commodities with a value that can be pegged to the dollar.

Bankman-Fried, who's set to be sentenced on March 28, 2024, faces up to 110 years in prison for the fraud charges brought against him, but they're only part of the charges he's facing. He's also set to stand trial for separate counts related to political bribery.

https://www.businessinsider.com/ftx-ftx-trading-fish-in-prison-for-services-crypto-2023-11

Well I do think that SBF is going to get a very big punishment. I think he will have to face the justice that he does deserve. And it will not matter about his parents.

But this is I think very different then CZ. Because CZ did not steal from any people. I think this is the different reason why it was ok for CZ to pay $175 Million in a bond.

Well I do not think it will be any shocking for you to learn this. A former prisoner in same jail told told crypto blogger Tiffany Fong SBF was the target of a extortion attempt.

I do not think we all thought he would do very good in jail. He is a young man who will not defend himself from the other inmates. It is so bad now he is on a suicide watch.

https://www.newsbtc.com/ftx/disgraced-ftx-co-founder-placed-on-suicide-watch-in-prison-reveals-former-inmate/

What happened to SBF affect many investors in the cryptocurrency ecosystem and that made many people go into bankruptcy and some were even afraid to invest in Bitcoin not crypto again. As for the Samuel Benjamin Bankman-Fried aka Futures Exchange (FTX) after the lawsuit against the founder and the company, I have not heard anything again. Though the news too was not like at the first time again when it was trending online. And these days I am not even seeing or hear from it again.

And if he is in prison then it will be very bad of him because he is still a young guy who supposed to enjoy his youthful age but spending it in jail. I really pity for him.

If this is for real, I think that he doesn't even to deserve eat fish with what he's done to the people so that he won't get that and won't be able to trade anything for it. Well, he's got served a sentence already and can be said of a lifetime so that makes sense and whatever he's going through on jail or wherever he is right now, people that have gone all of their money and probably some investors are real fisherfolks and have traded everything they can to trade and invest on FTX is like a cycle on his end.

I do not know any person who does feel some pity for him. He is a youthful age but he will be treated like a man for the bad things he did to the people that lost all their money.
SBF did now choose to not file post-trial motions. His sentencing is in March so now the prosecution could be thinking it is best for them for a second trial.
https://coingape.com/sbf-trial-bankman-fried-chooses-not-to-file-post-trial-motions/

Well now there is a photograph of SBF that I seen going around. They call him 'gangster' in jail and do say he is weird.
I do not know if this man is going to survive 15 years in there. He looks like a weak man and we know it is not easy for him to live in there.
https://nypost.com/2024/02/20/business/sam-bankman-fried-pictured-in-jail-poses-alongside-ex-gang-members/

Well now SBF is mad and he is going to go for the famous people that ftx paid. Those people include Stephen Curry, Shaquille O’Neal, Naomi Osaka, Tom Brady, and comedian Larry David. 

But these famous people might not be liable for any damages that ftx and alameda research did cause. https://au.news.yahoo.com/disgraced-crypto-bro-sbf-turn-175107293.html

I see SBf people who take advantage of the situation with full calculation as if they are free to do what they want without being caught and have the ambition to drain it all by funding events and make donations to politicians with pride, but in the end they fall down destroying people's hopes and end up going to prison according to what they did.

Well now FTX did say that most of its customers will get their money back form FTX. And they will be paid back interest too but it will be at a fair market value. It will not matter at what price they bought the crypto.

https://www.cnbc.com/video/2024/05/08/ftxs-bankruptcy-plan-would-pay-back-customers-with-interest-a-but-at-bear-market-valuation.html