[Updated] FTX

[bbc.reporter]

Sam Bankman-Fried's legal defense team claims that it was crypto winter that caused the failure of FTX hehehe. Are they telling everyone that Sam and his team never moved user funds under FTX's custody to Alameda Research's trading account? I shake my head.

However, if Sam's case is dismissed or if there is a trial and he wins the case, I speculate that this will be taken as bullish by the market and much of the people in the community. We will try to forget what happened because what we really want is a market pump.



Sam Bankman-Fried’s lawyers have come out swinging against federal prosecutors, seeking to preemptively dismiss most of the criminal charges made against the disgraced FTX co-founder and former CEO before a trial can take place.

Calling the U.S. government’s pursuit of Bankman-Fried “a classic rush to judgment,” the FTX and Alameda owner’s defense team argues that shortcomings leading to FTX’s demise are common throughout the crypto industry. They also contend the company’s failure stems from a broader crypto winter, rather than reported failure to back FTX’s native token FTT, or secret loans from FTX to Alameda alleged by both prosecutors and the bankruptcy team put in place to manage the repayment of FTX customers and creditors.

Source https://www.theblock.co/post/229881/bankman-fried-crypto-winter-ftx-failure-dismiss-charges


Also, FTX will return. This will be taken as very bullish and the community will celebrate.

[1714261814]

1714261814

[JayJuanGee]

........ if Sam's case is dismissed or if there is a trial and he wins the case, I speculate that this will be taken as bullish by the market and much of the people in the community.

I am not sure if the odds are very good for such an outcome of his either winning or the case being dismissed.

I am also doubtful if such an outcome would end up being bullish - even though does bitcoin itself really care?  The BTC price is still somewhat based on its soundness, not the fact that there are various scammers and/or injustices in the world, so if some kind of injustice ends up playing out in regards to that twat going free, then it just has to do with deficiencies in various aspects of our current justice system rather than being any kind of specific reflection of the foundational principles regarding how bitcoin is built and how it works.. who cares if people fail to understand bitcoin and get the wrong signals, in the end, people will find out that honey badger no doesn't care.. either you stack sats and build into bitcoin or you have fun staying poor in various aspects of clown world, including such a world in which sam is allowed to go back out their and spread his bullshit scams some more.

We will try to forget what happened because what we really want is a market pump.

Bitcoin is not going to pump merely because scams (and clown world) continues to exist, bitcoin is going to pump because it is already designed to pump forever, whether aspects of clown world get fixed or not... bitcoin continues to contribute towards an environment of sound money, and surely scams, snake oil and worthless shitcoins are still going to build up around bitcoin, and that is not necessarily a reflection on bitcoin merely because bitcoin has built in sound money principles, and games are going to be played (or attempted to be played) on it, and some of those clowns are going to get wrecked along the way because they fail/refuse to sufficiently and prudently stack sats and secure their private keys and make sure that their coins do not get taken from them in the process of continuing to witness surrounding systems with ongoing bad incentives built therein.

Also, FTX will return. This will be taken as very bullish amd the community will celebrate.

True.. it might return.. and that is neither here nor there.. I would not proclaim to know how the return of FTX might play out in terms of the various stakeholders that might get screwed in participating in such a process.. They seem to be in a better position to return than MTGOX was in 2014.. even though some folks talked about the possibility of MTGOX being able to return.. and we know that did not happen with MTGOX, so far.. and if there is enough capital or even enough potential good will that might be able to be built (or squandered) through another attempt at operating FTX is still to be seen whether it will happen (as you are predicting) and how it might play out, which is not exactly clear that it would be long term bullish or good, even if there might be some short term bullish sentiment with such an outcome... at least for some aspects of the market, and the market is not a monolith (community) as you are wanting to pigeon-hole your evaluation in such terms as if "we" were all part of some cult or religion and/or that everyone feels the same about something that might end up developing in the direction (or some variation) that you are suggesting might end up happening.

[temple]

........ if Sam's case is dismissed or if there is a trial and he wins the case, I speculate that this will be taken as bullish by the market and much of the people in the community.

I am not sure if the odds are very good for such an outcome of his either winning or the case being dismissed.

I am also doubtful if such an outcome would end up being bullish - even though does bitcoin itself really care?  The BTC price is still somewhat based on its soundness, not the fact that there are various scammers and/or injustices in the world, so if some kind of injustice ends up playing out in regards to that twat going free, then it just has to do with deficiencies in various aspects of our current justice system rather than being any kind of specific reflection of the foundational principles regarding how bitcoin is built and how it works.. who cares if people fail to understand bitcoin and get the wrong signals, in the end, people will find out that honey badger no doesn't care.. either you stack sats and build into bitcoin or you have fun staying poor in various aspects of clown world, including such a world in which sam is allowed to go back out their and spread his bullshit scams some more.

Correct me if I am wrong bbc.reporter, but I understood your sentence regarding the dismissed trial or won case more like it is a good sign because that would imply a more Bitcoin friendly tendency among the judges, the people with the power to decide over SBF's case. If I am correct here, then there is some merit to it because the judiciary is what can slow down or accelerate Bitcoin adoption in the short-term and mid-term. But I am fully aware that this would only be a tiny part of the judiciary in the whole U.S.A., but still.

However, if the judiciary understands Bitcoin well and would rather tend to support it, then SBF's case doesn't really have much to do with their understanding of and attitude towards Bitcoin. Actually, I think it would be the wrong signal because the community doesn't really want any SBF's. Whether it is crypto winter or summer or whatever they want to call it, he took a gamble, at the least on "crypto seasons". He accepted that in the case of a crypto winter, people lose fortunes, and in the case of a crypto summer, people don't lose but he wins. That is criminal intent taking into account all these shady transactions within his own corporate network. Transactions with sums of money where everyone  gets dizzy. Even some of the richest guys would struggle to move customer funds in the amount of what SBF moved for his private amusement.

We will try to forget what happened because what we really want is a market pump.

Bitcoin is not going to pump merely because scams (and clown world) continues to exist, bitcoin is going to pump because it is already designed to pump forever, whether aspects of clown world get fixed or not... bitcoin continues to contribute towards an environment of sound money, and surely scams, snake oil and worthless shitcoins are still going to build up around bitcoin, and that is not necessarily a reflection on bitcoin merely because bitcoin has built in sound money principles, and games are going to be played (or attempted to be played) on it, and some of those clowns are going to get wrecked along the way because they fail/refuse to sufficiently and prudently stack sats and secure their private keys and make sure that their coins do not get taken from them in the process of continuing to witness surrounding systems with ongoing bad incentives built therein.

This is so true. The strongest characteristic of Bitcoin is that it will continue to thrive independently of what other systems are doing or not doing. The only impact other systems can have is to either provide temporary useful options, thereby slowing down the speed of the growing need for Bitcoin, or fail so hard that they literally force the masses into Bitcoin adoption right now or tomorrow. It is a question of speed of adoption, not of Bitcoin's ultimate existence. Bitcoin will pump, we only don't know whether it will pump quickly or slowly. A pumping balloon is a pumping balloon, no matter how fast it's pumping. If you only look at the price, of course you could be trapped into thinking that Bitcoin is shrinking at times. But there are many, many more metrics that evidently show that Bitcoin is pumping regardless of its temporary price. Take the balloon that is going up into the sky, it might only go up slower even when it is losing some air. The balloon falling off the sky would be equal to Bitcoin going to zero and I am confident not too many people are convinced of that possibility.

Also, FTX will return. This will be taken as very bullish amd the community will celebrate.

True.. it might return.. and that is neither here nor there.. I would not proclaim to know how the return of FTX might play out in terms of the various stakeholders that might get screwed in participating in such a process.. They seem to be in a better position to return than MTGOX was in 2014.. even though some folks talked about the possibility of MTGOX being able to return.. and we know that did not happen with MTGOX, so far.. and if there is enough capital or even enough potential good will that might be able to be built (or squandered) through another attempt at operating FTX is still to be seen whether it will happen (as you are predicting) and how it might play out, which is not exactly clear that it would be long term bullish or good, even if there might be some short term bullish sentiment with such an outcome... at least for some aspects of the market, and the market is not a monolith (community) as you are wanting to pigeon-hole your evaluation in such terms as if "we" were all part of some cult or religion and/or that everyone feels the same about something that might end up developing in the direction (or some variation) that you are suggesting might end up happening.

I am not convinced that a lot of people truly want FTX to return. They want FTX to return what it took from the people and if that in a first step requires FTX to return as a company, so be it. But at a bottom line I am sure that nobody wants another FTX, or a former FTX to be revived because they like FTX. They like their lost assets and the hurdle they might have to take is FTX's return. I wish the victims the best and that is why I am indifferent about the process how the compensation could be accomplished.

But I want to close by saying that everyone should ask more questions before entrusting SPOFs (or SBFs) with money. The similarity between the short cuts, that's ridiculous. But  how that kid in the first place got double digit billion dollar amounts of money under management is really a problem.  

[bbc.reporter]

@JayJuanGee. You are correct that the outcome of the case might not occur as I have speculated. I was only thinking that if the market is not as bullish as expected for the year 2023, the community might welcome any type of good news it can get and also might choose to forget and stop questioning what was has occured in FTX hehehehee.

[JayJuanGee]

@JayJuanGee. You are correct that the outcome of the case might not occur as I have speculated. I was only thinking that if the market is not as bullish as expected for the year 2023, the community might welcome any type of good news it can get and also might choose to forget and stop questioning what was has occured in FTX hehehehee.

You are right that various aspects of "the market" can frequently have very superficial reasons, expectations and explanations what they believe is happening in bitcoin, yet at the same time, many of us longer term bitcoiners (you should be included in this group, no?) likely realize that the superficial assessments are frequently NOT very telling about what is actually happening in bitcoinlandia as compared to macro happenings as compared to various shitcoins that might also affect market sentiment, and even the concept of market sentiment might sometimes contribute towards momentum in one direction or another (or lack of momentum), but I still would consider market sentiment (news, politician/banker announcements, prosecution/regulation/many bankruptcies) to be a potentially misleading way of thinking about what is happening or to make any reasonable bitcoin stacking preparations based on market sentiment assessments.

And, of course, you can put a lot of weight into some of the current happenings - sentiment, news, and hype and whether or not those kinds of considerations are going to help you (or anyone else) with BTC stack accumulation and/or maintenance might be another question, and I would not even be saying to ignore the news, even though I still believe that some of the better way to attempt to assess bitcoin has to do with the three categories of consideration that I had continued to outline having to do with 1) stock to flow, 2) 4-year fractal and 3) exponential s-curve adoption based on network effects and Metcalfe principles..and yeah, even if there might be some ways in which any of us might suggest that those considerations might not be exactly right, we should still be able to make some directional assessments regarding where bitcoin is, where it came from and where it might be going that is not so much concerned about various noisy aspects that might have more to do with short-term baloney rather than keeping our eyes on the main prize that has to do with being better off by making sure that we are continuing to stack and be sufficiently/adequately prepared for UP, even if there may well continue to be quite a few short-term bumps along the road.

[bbc.reporter]

News update.

When did Sam engineer a giftof $10 million to his father? Within 1 year of CZ's action to dump FTT? This might be already planned as a countermeasure fund and if it is really a countermeasure fund then Sam might have already known that FTX would collapse 1 year before anyone else.



Former FTX CEO Sam Bankman-Fried is reportedly paying millions to his defense lawyers using stolen funds. The accusation has come from lawyers on behalf of the now-collapsed crypto exchange. Specifically, they are claiming that the founder is paying $10 million in his defense using money that was misappropriated.

CNBC reports on the initial accusation against Bankman-Fried. Moreover, lawyers have stated that the FTX founder “engineered a gift” of $10 million to his father, Joe Bankman.

Source https://watcher.guru/news/ftx-claims-bankman-fried-is-paying-millions-to-lawers-using-stolen-funds



There are also rumors that Sam was seen outside the building of the district court for the southern district of New York. It appears all these jokes we were making about Sam being an informant for the American government might be true hehehhehee.

[bbc.reporter]

This is a very strange news update and very shocking if confirmed true.

In any case, the story. There is this token called Bald issued in Base, Coinbase's Ethereum layer 2 network. It became popular to a small group of traders and pumped by more than 50x from the first day of issuance. However, it appears to be a rugpull when the developer removed most of the liquidity from Uniswap and sent the ETH to Binance. There is nothing strange with this hehehehee. The strange part of the story is it was discovered that the deployer of the contract for Bald tokens also had transactions from a wallet speculated to be owned by Sam Bankman-Fried.

I have no comment, only a question. Why would Sam use this wallet to deploy a contract if it was really him?

All transactions and discoveries are in this thread shared by @MidasFoolsGold.

https://twitter.com/midasfoolsgold/status/1686126874500767744

[Tony116]

Following the news that FTX will restart the exchange, FTX recently sent a proposal to restart FTX.com (global) to international customers. And according to news reports, the plan will only be implemented if FTX's creditors agree. But the interesting thing is that they will restart their exchange for the international market, not including the US market.

I think their restarting the exchange is good news for their victims, because if they want to restart their business, they need to return the money to their victims.
https://www.coindesk.com/business/2023/08/01/ftx-plans-to-restart-crypto-exchange-for-international-customers/

[red4slash]

This is a very strange news update and very shocking if confirmed true.

In any case, the story. There is this token called Bald issued in Base, Coinbase's Ethereum layer 2 network. It became popular to a small group of traders and pumped by more than 50x from the first day of issuance. However, it appears to be a rugpull when the developer removed most of the liquidity from Uniswap and sent the ETH to Binance. There is nothing strange with this hehehehee. The strange part of the story is it was discovered that the deployer of the contract for Bald tokens also had transactions from a wallet speculated to be owned by Sam Bankman-Fried.

I have no comment, only a question. Why would Sam use this wallet to deploy a contract if it was really him?

All transactions and discoveries are in this thread shared by @MidasFoolsGold.

https://twitter.com/midasfoolsgold/status/1686126874500767744

affected tokens are instantly destroyed

although I don't really care about this because sooner or later it will also be destroyed for coins like this but with the link from SBF this accelerates the destruction.

It's hard to see any certainty in this but it does look like a typical scam where an anonymous token developer deletes thousands of ETH in liquidity which makes the price of the memecoin plummet which makes a lot of impromptu crypto detectives start checking
But if it is proven that SBF and his henchmen did it then why he can still control it while in jail and automatically if proven then the punishment will be much bigger.

One of the tweets that caught my attention.

https://twitter.com/RyanSAdams/status/1686135610317103104?s=20

[BABY SHOES]

I think their restarting the exchange is good news for their victims, because if they want to restart their business, they need to return the money to their victims.
https://www.coindesk.com/business/2023/08/01/ftx-plans-to-restart-crypto-exchange-for-international-customers/

What is the news of the claim portal that they have spread via email? It will not be easy to quickly return customer funds let alone to start re-launching the exchange, this is not good news but they are launching their action again.

Especially with the recent allegations with BALD shitcoins more and more people do not believe in FTX or SBF.

affected tokens are instantly destroyed

although I don't really care about this because sooner or later it will also be destroyed for coins like this but with the link from SBF this accelerates the destruction.

It was reported that at the beginning of the launch there was someone who bought with $500 and then the token was pumped he got double the profit, but for those who bought behind it became victims of the ferocity of shitcoin.
If I'm not mistaken, the liquidity was almost 66M at the time this shitcoin was pumped.

But if it is proven that SBF and his henchmen did it then why he can still control it while in jail and automatically if proven then the punishment will be much bigger.

I suspect that the one who did it was SBF's henchman, I read the news that SBF has been punished and is not allowed to use any internet, but if he does it again then there is a leak in the prison room that SBF occupies.

There are still many SBF henchmen who are loyal to their masters.

[rachael9385]

Following the news that FTX will restart the exchange, FTX recently sent a proposal to restart FTX.com (global) to international customers. And according to news reports, the plan will only be implemented if FTX's creditors agree. But the interesting thing is that they will restart their exchange for the international market, not including the US market.

I think their restarting the exchange is good news for their victims, because if they want to restart their business, they need to return the money to their victims.
https://www.coindesk.com/business/2023/08/01/ftx-plans-to-restart-crypto-exchange-for-international-customers/

Yes mate you are absolutely correct on this statement, for FTX.COM to restart their exchange they have to repay all those money they collected (defrud) from victim's, for FTX exchange to exclude US from their platform I strongly believe that they are planning to take their scam exchange to another level, SBF was arrested in  the US for his crime's and I believe that the US government has given him conditions to exclude US from his scam exchange. FTX has lost enough prospect in their platform because of the defrauding, so my conclusion is that FTX exchange will not have much investor like before because no body will like to make same mistake double times, it might only be those that didn't hear the incident about the platform they might only be the once to use the platform. Anyway let's watch out the part to of their reopening maybe it might be little different from the previous.

Meet Mr John Ray III the new CEO of FTX exchange

[Nwada001]

I have no comment, only a question. Why would Sam use this wallet to deploy a contract if it was really him?

Maybe it was not really him; there might be something going on under the ground. For someone who has crypto knowledge, deploying a smart contract with an address that he is already familiar with will be a big mess to his name, adding to the already trouble going on around him. Either someone else has access to that address and might have made everything seem as if it was done by Sam in order to prevent suspicion from coming back to the real person.

There are a lot of possibilities here, and it could also be Sam, but he forgot he was using a wallet that was already known to him before he realized it was already late.

[Ryu_Ar1]

although I don't really care about this because sooner or later it will also be destroyed for coins like this but with the link from SBF this accelerates the destruction.

It was reported that at the beginning of the launch there was someone who bought with $500 and then the token was pumped he got double the profit, but for those who bought behind it became victims of the ferocity of shitcoin.
If I'm not mistaken, the liquidity was almost 66M at the time this shitcoin was pumped.

By looking at the pump they did it's actually hard to even seem impossible to know how much fake volume they did because it's like it was well planned and I think it was definitely started from the beginning so it's impossible for this coincidence to come suddenly when the coin was pumped and the BALD developers removed the liquidity that was stored in the DEX pool the price dropped dramatically. It seems like this was done by not just one or two people but this group is really terrible and this is what we have to realise that shitcoin is really destructive.

On the other hand, actually in this case even though there is still a lot of debate whether SBF is behind everything or not when looking at the wallets associated with FTX and Alameda Research it is already one of the strong reasons and we are also not fools who will believe that it is a coincidence right.
Hell it is very difficult to judge people like this because even in punishment they can still launch other scams.

[bbc.reporter]

I have no comment, only a question. Why would Sam use this wallet to deploy a contract if it was really him?

Maybe it was not really him; there might be something going on under the ground. For someone who has crypto knowledge, deploying a smart contract with an address that he is already familiar with will be a big mess to his name, adding to the already trouble going on around him. Either someone else has access to that address and might have made everything seem as if it was done by Sam in order to prevent suspicion from coming back to the real person.

There are a lot of possibilities here, and it could also be Sam, but he forgot he was using a wallet that was already known to him before he realized it was already late.

It might be Sam, it might not be Sam, however, it might also be someone who wants everyone to think that it is Sam hehehe. But what would be the real reason behind this? Is this a demonstration on the power of DeFi and DEX of listing anything and for the SEC to begin cracking down on them? Is this a message for Coinbase that their chain is not safe? Everything about this is head shaking.

[Tony116]

I think their restarting the exchange is good news for their victims, because if they want to restart their business, they need to return the money to their victims.
https://www.coindesk.com/business/2023/08/01/ftx-plans-to-restart-crypto-exchange-for-international-customers/

What is the news of the claim portal that they have spread via email? It will not be easy to quickly return customer funds let alone to start re-launching the exchange, this is not good news but they are launching their action again.

Especially with the recent allegations with BALD shitcoins more and more people do not believe in FTX or SBF.

The victims of mt.gox have been waiting for years and they have yet to receive nothing but promises, but as long as there is hope, they should not give up. I am not saying that FTX will return the money to the victim immediately, but with the news that they will restart the exchange, it is worth expecting them to return the money to the victim. Because they want to rebuild their reputation, if they want to have customers, they must at least return the money. This is just a rumor, it may or may not come true, but as I said, as long as there is hope, we should not give up so easily. If FTX victims get their money back that's a good thing, so we should hope that happens.

[Minecache]

Following the news that FTX will restart the exchange, FTX recently sent a proposal to restart FTX.com (global) to international customers. And according to news reports, the plan will only be implemented if FTX's creditors agree. But the interesting thing is that they will restart their exchange for the international market, not including the US market.

I think their restarting the exchange is good news for their victims, because if they want to restart their business, they need to return the money to their victims.
https://www.coindesk.com/business/2023/08/01/ftx-plans-to-restart-crypto-exchange-for-international-customers/

Yes mate you are absolutely correct on this statement, for FTX.COM to restart their exchange they have to repay all those money they collected (defrud) from victim's, for FTX exchange to exclude US from their platform I strongly believe that they are planning to take their scam exchange to another level, SBF was arrested in  the US for his crime's and I believe that the US government has given him conditions to exclude US from his scam exchange. FTX has lost enough prospect in their platform because of the defrauding, so my conclusion is that FTX exchange will not have much investor like before because no body will like to make same mistake double times, it might only be those that didn't hear the incident about the platform they might only be the once to use the platform. Anyway let's watch out the part to of their reopening maybe it might be little different from the previous.

Meet Mr John Ray III the new CEO of FTX exchange

But I think this plan will be challenging to implement because according to the news some of the creditors of FTX do not agree with the intent to restart their exchange. According to the report, creditors want more control if the exchange is restarted, and they also expressed concern that FTX is paying too much for lawyers and advisors.

It's all just a plan and there hasn't been any formal negotiations between FTX and creditors, so the implementation won't be easy. These disagreements not only hindered the process of restarting the exchange but also slowed down the refund process for FTX victims.
https://www.theblock.co/post/242575/ftxs-creditors-say-they-werent-looped-in-on-plan-to-recoup-funds

[JayJuanGee]

[edited out]

But I think this plan will be challenging to implement because according to the news some of the creditors of FTX do not agree with the intent to restart their exchange. According to the report, creditors want more control if the exchange is restarted, and they also expressed concern that FTX is paying too much for lawyers and advisors.

It's all just a plan and there hasn't been any formal negotiations between FTX and creditors, so the implementation won't be easy. These disagreements not only hindered the process of restarting the exchange but also slowed down the refund process for FTX victims.
https://www.theblock.co/post/242575/ftxs-creditors-say-they-werent-looped-in-on-plan-to-recoup-funds

I have already expressed that I am skeptical of becoming too conspiratorial about these FTX matters; however, I will admit that when we add up several of the things that are happening, then several of the conspiratorial theories become a lot stronger in terms of the whole situation potentially having had been a kind of PsyOP that might have been coming out of the US Government in the first place - because aren't there just so many amazing things that are either happening or being presented.

Frequently creditors can end up getting rolled over, so I would not necessarily count on creditors getting their way, yet surely if the creditors make BIG enough stinks in regards to how they are getting rolled over in various ways, then perhaps there might be some hesitations in terms of attempting to open the exchange back up.

Can you imagine that if the exchange were to open back up and there are various appearances that the opening of the exchange is resulting in value not being lost and creditors being made whole, then SBF and a variety of the other criminal conspirators, including several of his family members, various string pullers in the company (we know Sam could not have done all this shit on his own) and including the various politicians that seemed to have various tentacles into various aspects of this mess, they are either let off with a slap on the wrist or some of them are not even shown as being involved in their various ways.

And, right now there seems to be some attempts to separate out the liability of some of FTX's Dubai operations... and so it can sometimes be difficult to keep up with how matters might end up getting separated out, and then potentially causing questions regarding which ones are being paid off first, or is there some reason why there needs to be separation of entities, except to potentially cover up (and confuse) some of the connections.  

I seem to remember there has not been much success in terms of getting any kind of "independent auditor" assigned to looking further into this matter either... so John Ray III might start to seem to be more and more of a kind of a spin master than anyone who is really trying to get to to the bottom of some of the more important things, especially in regards to certain likely involved peeps who are likely ongoingly being protected from liability, public scrutiny and their potential criminal acts..and even if they might not have had intended to do some of the things that they did (in terms of their behind the scenes involvement in FTX or even in their holding or trading value there.. which there seems to be a decent amount of evidence of possible money laundering going on too.. and for sure attacks on bitcoin.. who cares about crypto?.. but the attacks on bitcoin are likely important..), they still could be held liable in non-criminal ways, if the facts were to support that kind of a lesser culpability approach.

[bbc.reporter]

It appears another FTX does not want to bite the dust and will plead guilty to appeal for a lighter sentence in exchange for cooperation. What they might not know is Sam has been cooperating with the government in secret hehehehe. That is my own speculation only for anyone who thinks I am being annoying again.

In any case, it is very head shaking that FTT is being traded with a price of $1.20 and remains listed.



Ryan Salame, the former co-chief executive of FTX Digital Markets, is in negotiations with federal prosecutors to plead guilty to criminal charges following the implosion of the cryptocurrency exchange, according to people familiar with the case.

The Republican megadonor may enter a plea as soon as next month to offenses including campaign finance law violations, according to the people, who asked not to be identified because the discussions aren’t public.

Salame, who headed the company’s Bahamas subsidiary, has been under intense scrutiny in the sweeping criminal and regulatory investigations. He was a prolific political donor, shelling out $24 million in support of Republican candidates during his time at FTX.

Source https://www.bloomberg.com/news/articles/2023-08-08/ex-ftx-executive-salame-talking-to-prosecutors-about-plea-deal


This will not be good for Ryan Salami because he is a Republican hehehehe.

[OmegaStarScream]

So this just came in: SBF's bail has been revoked over witness tampering and he's going back to jail[1]. I would imagine there's no way for him to get out now? Not until we see the trial's outcome at least, which is planned for the 2nd of October.

[1] https://www.coindesk.com/policy/2023/08/11/sam-bankman-fried-jailed-ahead-of-trial/

[bbc.reporter]

@OmegaStarScream. Similar to the questioning and the skepticism of him being a philantrophist, it should also be questioned if he is really a vegan heheheeh. I reckon the vegetarian community should investigate this. Sam's criminal actions can only be done by an aggressive meat eater.

Also, he is fat! I have never seen a fat person who only eats vegetables.