SBF-Denies Improper use of Customer Funds in a 1 on 1 Interview

[Cookdata]

If you lie for a living, you will have the chance to speak the truth but eventually when you do, people will find it hard to differentiate between the light and the darkness between your lips. SBF is a con artist and cancer to everyone in this space, from most of his interviews, he is guilty and definitely use customers money to fund Alamedas position which violates their own policies and conditions and that’s a crime that governments shouldn’t take lightly.

This days, with what has been happening in crypto space, I have come to understand that the traditional media is so centralized even the case of SBF, had it been this was done by another citizen from another country, he would be in jail by now but the same customers fund he was supposed to protect has been used to lobby same government. Justice may be delay for customers but they will have it as long as SBF keep breathing.

[tygeade]

If you lie for a living, you will have the chance to speak the truth but eventually when you do, people will find it hard to differentiate between the light and the darkness between your lips. SBF is a con artist and cancer to everyone in this space, from most of his interviews, he is guilty and definitely use customers money to fund Alamedas position which violates their own policies and conditions and that’s a crime that governments shouldn’t take lightly.

This days, with what has been happening in crypto space, I have come to understand that the traditional media is so centralized even the case of SBF, had it been this was done by another citizen from another country, he would be in jail by now but the same customers fund he was supposed to protect has been used to lobby same government. Justice may be delay for customers but they will have it as long as SBF keep breathing.

The boy who cried wolf basically. You could fool people too many times, and eventually they will wise up and when you tell the truth, they will not believe you because you lied to them so many times before.

I know this story all too well from my youth times, it was a story to teach young kids not to lie, and the point is not to lie ever at all, there could be life situations in your life where you are force to lie, not for a bad reason, but to save yourself from danger, for example when you are stood up by thieves or something. However, if you are a lying person in general, if lying is all you do, then you will be having a terrible time because of it and nobody will want to help you.

[Silberman]

If you lie for a living, you will have the chance to speak the truth but eventually when you do, people will find it hard to differentiate between the light and the darkness between your lips. SBF is a con artist and cancer to everyone in this space, from most of his interviews, he is guilty and definitely use customers money to fund Alamedas position which violates their own policies and conditions and that’s a crime that governments shouldn’t take lightly.

This days, with what has been happening in crypto space, I have come to understand that the traditional media is so centralized even the case of SBF, had it been this was done by another citizen from another country, he would be in jail by now but the same customers fund he was supposed to protect has been used to lobby same government. Justice may be delay for customers but they will have it as long as SBF keep breathing.

And this is what people in this market are fearing, under normal circumstances he should face a very long time in jail, however he has so many contacts among powerful figures and he has given them so much money away that there is a real possibility he can get away with his crimes or at least get a sentence which is way shorter than what he deserves, and if that were to happen this will send a very strong message to all the scammers we have in this market, and that is they can scam as much as they want and they can still get away with it.

[serjent05]

If you lie for a living, you will have the chance to speak the truth but eventually when you do, people will find it hard to differentiate between the light and the darkness between your lips. SBF is a con artist and cancer to everyone in this space, from most of his interviews, he is guilty and definitely use customers money to fund Alamedas position which violates their own policies and conditions and that’s a crime that governments shouldn’t take lightly.

This days, with what has been happening in crypto space, I have come to understand that the traditional media is so centralized even the case of SBF, had it been this was done by another citizen from another country, he would be in jail by now but the same customers fund he was supposed to protect has been used to lobby same government. Justice may be delay for customers but they will have it as long as SBF keep breathing.

And this is what people in this market are fearing, under normal circumstances he should face a very long time in jail, however he has so many contacts among powerful figures and he has given them so much money away that there is a real possibility he can get away with his crimes or at least get a sentence which is way shorter than what he deserves, and if that were to happen this will send a very strong message to all the scammers we have in this market, and that is they can scam as much as they want and they can still get away with it.

The worst thing is, in support of the denial of SBF about the improper use of customer funds Kevin O’Leary wanted to emphasize that Binance has something to do with the collapse of FTX because they forced FTX to buy Binance shares which is refuted by CZ and explained that Binance exits FTX more than a year and a half ago on July 2021[1].  Btw Kevin O'Leary is hired as a spokesperson paying O'Leary 15m  for the task.

Anyway, no matter how SBF and his employee denied the issue of fraud, He was caught on the Coffeezilla's third interview[2] admitting that they are is comingling FTX funds with Alameda.




[1] https://youtu.be/dNoui0NIWmU?t=143
[2] https://bitcointalk.org/index.php?topic=5427474.0

[dothebeats]

The man needs to go to a trial and be jailed for whatever they did wrong that made their platform crumble. I do not buy it when he says he know nothing about it. He's the CEO, how would he not have access to such information at all when most of the executive decisions needs to go through him or he needs to know them before it gets approved? There will come a time when his lies will caught up to him and there's no other choice for him but to tell the truth. This interview speaks volumes about the guy's nature. Doesn't feel like he's confident answering those questions at all.

[Bitstar_coin]

He needs a haircut to have a refreshing memory because it seems he is not able to recall what happened to people's funds.
They should take him to a lie detector let's see if that will juggle his memory back .
I don't appreciate when people trying to shy away from their responsibility, as a CEO of a billion dollar company, I doubt any important decision will be made without your approval or knowledge. If not, then what exactly are you doing in the company when important decisions are not run by you!  
It seems s the authorities are not using the proper tools to generate the truth, he his being pampered for recklessness.

[franky1]

He needs a haircut to have a refreshing memory because it seems he is not able to recall what happened to people's funds.
They should take him to a lie detector let's see if that will juggle his memory back .

lie detectors are not evidence. they are just a psychological trick to get people to admit to things.

SBF is playing dumb to avoid admitting to crimes. its not the case of actually not knowing. its instead being creative about what to admit/say to atleast make it worth being interviewed for his multiple cash-paid speaking tours he is doing, to cover the costs of paying his lawyers

after all a good lawyer would not advise anyone to go on a interview-tour, unless its the noly way the lawyer is going to get paid now SBF's personal accounts are frozen

[BitcoinPanther]

He needs a haircut to have a refreshing memory because it seems he is not able to recall what happened to people's funds.
They should take him to a lie detector let's see if that will juggle his memory back .

lie detectors are not evidence. they are just a psychological trick to get people to admit to things.

Yeah, i never believe in this machine.  Someone who is good in lying can bypass this one.  Nothing beats a valid proof and honest witness in confirming the crime of the perpetrator.

SBF is playing dumb to avoid admitting to crimes. its not the case of actually not knowing. its instead being creative about what to admit/say to atleast make it worth being interviewed for his multiple cash-paid speaking tours he is doing, to cover the costs of paying his lawyers

He is well versed with it, he has parents who knows every corner of justice system so he can be briefed on what to do when asked question.  As long as SBF don't admit the crime directly, they can find holes and gaps to save SBF from getting to jail.

after all a good lawyer would not advise anyone to go on a interview-tour, unless its the noly way the lawyer is going to get paid now SBF's personal accounts are frozen

Precisely!  Now it is interesting to know the result of the upcoming FTX collapse house hearing.  I wonder what would be the statement of SBF this time.

[Joshapat]

When FTX is known to manipulate before declaring bankruptcy, many employees including SBF say that FTX is good and not problematic, even SBF employees also convinced the public that FTX is not a problem, and after investors want to take their money it turns out that transactions are blocked because they do not have fund.

[Thomas Kralow]

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


ABC News anchor George Stephanopoulos had a 1 on 1 interview with Sam Bankman-Fried.   In this 10+ minute long video, the anchor asks SBF if he new about the FTX deposit are being used to pay off Alameda creditors.  It took a while for SBF to answer and deny that he knew about the improper use of customer fund.

Here is the original video from ABC news : https://abcnews.go.com/GMA/News/video/ftx-founder-sam-bankman-fried-denies-improper-customer-94268098

Here is the Time Stamped Commentary video[1] done by The Altcoin Daily channel

Timestamps:[1]
0:00 - Did SBF know about the stolen FTX user funds?
1:49 - SBF on FTX's collapse: "I wasn't even trying."
2:27 - SBF pretending to be ignorant?
3:17 - Bernie Madoff/Ponzi level fraud?
4:11 - Did SBF know user funds were being stolen?
4:44 - It takes SBF 5+ minutes to answer.
9:38 - DO NOT BE FOOLED! (SBF is dumb like a fox)
10:15 - SBF on losing his entire personal net worth
11:08 - Do you believe him?

sbf was arrested by the government of the Bahamas, just saw the news on twitter. The mall is the same as it was on the battlefield. I don't want to judge the conspiracy here. I just want to say that all the time is completely in the original intention of the project party. Some people didn't want to do evil at first, but with the surge of funds and the infiltration of various forces, the original intention changed. That's all.


In this interview it is obvious that SBF is hiding the truth.  Another note taking is that he admit that he did not take his position seriously that leads to FTX bankruptcy.  


[1] https://www.youtube.com/watch?v=tR-3h-gagjs

[South Park]

When FTX is known to manipulate before declaring bankruptcy, many employees including SBF say that FTX is good and not problematic, even SBF employees also convinced the public that FTX is not a problem, and after investors want to take their money it turns out that transactions are blocked because they do not have fund.

This is no different than what we have seen all our lives with banks, everyone knows they are bankrupt but the bank is going to deny this until it actually happens as they believe they can keep on deceiving their customers, the interesting thing about this is that we were supposed to leave this behind with decentralization, but it seems a great deal of people are not ready for it and keep accepting centralized institutions in a market which was created with the intention of not using them at all.

[carlfebz2]

When FTX is known to manipulate before declaring bankruptcy, many employees including SBF say that FTX is good and not problematic, even SBF employees also convinced the public that FTX is not a problem, and after investors want to take their money it turns out that transactions are blocked because they do not have fund.

This is no different than what we have seen all our lives with banks, everyone knows they are bankrupt but the bank is going to deny this until it actually happens as they believe they can keep on deceiving their customers, the interesting thing about this is that we were supposed to leave this behind with decentralization, but it seems a great deal of people are not ready for it and keep accepting centralized institutions in a market which was created with the intention of not using them at all.

Having these centralized platforms or services then it cant really be avoided for these things not to exist considering that there are things which touches up fiat transactions will really be needing these platforms.

Hate it or not then it would really be the reality.On the time on the said platform gained up much interest and popularity and then this is where its owner/CEO would really be tested out whether he would make

himself that greedy son-of-a-b*tch and would plan to ran out their users money or would tend to continue to the business and SBF did choose the other path.
He can deny all he want but the public does already know the obvious truth.

[harapan]

What more can he do but lie to buy time? This must have been a strategy from the lawyers he brought in for his case

How can he not know about the loss of money from the exchange after they deliberately paused withdrawal's and seized investors money.

He should erase anything in his mind that makes him feel like he'll be granted bail as fast as possible after all the hurting news.
The judge would be extremely punishment in my idea if he eventually does anything like that.

The lawyer he brought I learnt was a very experienced legal practitioner who from experience can be able to handle bad cases, but this one seem impossible.

[Lubang Bawah]

As a Cryptocurrencies consumer who lacks power, it is certainly very difficult to be able to expect a lot from FTX cases, some bankrupt Exchanges previously promised refund with the steps they specified, but it was only theory and could never succeed when refunded. Moreover, FTX looks always avoiding every time asked about investor money.

[Mr. Magkaisa]

   - In this interview, it is obvious to the majority that he is washing his hands here, that is the truth in the perception of the majority of this event.

But now he is in the custody of the authorities after he was arrested by the police, and as far as I know, the prison he is in so far is one of the worst prisons in the world, in short, there are many prisoners, and the facilities are not good, and they didn't grant the request to transfer him to the custody they want for SBF, Karma is really real.

[South Park]

   - In this interview, it is obvious to the majority that he is washing his hands here, that is the truth in the perception of the majority of this event.

But now he is in the custody of the authorities after he was arrested by the police, and as far as I know, the prison he is in so far is one of the worst prisons in the world, in short, there are many prisoners, and the facilities are not good, and they didn't grant the request to transfer him to the custody they want for SBF, Karma is really real.

There is a very real risk that SBF may attempt to kill himself, for someone like him that was so proud about his achievements and about the material gain that he has gained by deceiving his investors it is going to be almost impossible to accept the incredibly difficult conditions he will find at prison, and as such it is possible he will take the easy way out, and as much as I do not like him I would not want for that to happen as there are many investors that need answers about what happened.

[Lucius]

There is a very real risk that SBF may attempt to kill himself, for someone like him that was so proud about his achievements and about the material gain that he has gained by deceiving his investors it is going to be almost impossible to accept the incredibly difficult conditions he will find at prison, and as such it is possible he will take the easy way out, and as much as I do not like him I would not want for that to happen as there are many investors that need answers about what happened.

I already answered a similar question somewhere, but honestly, no matter how cruel it sounds, why should we care if he does it? Maybe you should ask yourself how many people have already committed suicide and how many will commit suicide in the future because of Bankman?

If you've read any serious article about what happened, you have most of the answers, you don't need Bankman to admit that he's an idiot who instead of running a company was conducting some kind of social experiments in his villa in the Bahamas. All those involved should be sentenced to long prison sentences, and if any of them wants to pronounce a death sentence on themselves, that is between them and God.

[pixie85]

There is a very real risk that SBF may attempt to kill himself, for someone like him that was so proud about his achievements and about the material gain that he has gained by deceiving his investors it is going to be almost impossible to accept the incredibly difficult conditions he will find at prison, and as such it is possible he will take the easy way out, and as much as I do not like him I would not want for that to happen as there are many investors that need answers about what happened.

He won't do it. He'll want to wait for the verdict first and this will take at least a year. Then, if he gets 30 years or more, there's a chance he'll do it.

For a young guy, getting out at his 60s or 70s is like a death sentence, especially that he's a weak looking guy. If he got into a prison camp he might survive, but in a normal federal prison he won't make it with all those street thugs around. He'll end up as someone's girlfriend.

Should we care about him? It wasn't a mistake that he made. It was years of stealing before he got caught. He knew what he was doing.
I'd be more willing to release Ross than SBF and Ross is in for life.

[mv1986]

There is a very real risk that SBF may attempt to kill himself, for someone like him that was so proud about his achievements and about the material gain that he has gained by deceiving his investors it is going to be almost impossible to accept the incredibly difficult conditions he will find at prison, and as such it is possible he will take the easy way out, and as much as I do not like him I would not want for that to happen as there are many investors that need answers about what happened.

He won't do it. He'll want to wait for the verdict first and this will take at least a year. Then, if he gets 30 years or more, there's a chance he'll do it.

For a young guy, getting out at his 60s or 70s is like a death sentence, especially that he's a weak looking guy. If he got into a prison camp he might survive, but in a normal federal prison he won't make it with all those street thugs around. He'll end up as someone's girlfriend.

Should we care about him? It wasn't a mistake that he made. It was years of stealing before he got caught. He knew what he was doing.
I'd be more willing to release Ross than SBF and Ross is in for life.

Since this is now experiencing actuality, your guess that this may take about a year until SBF knows what's going to happen with him, here we go!

"Sam Bankman-Fried found guilty in FTX crypto fraud case"

He has been found guilty on all seven counts, the maximum sentence here is 105-110 years, but they assume he will get a little less than that, but will be in prison for a very long time, especially because he messed up his defense and his testimony so hard that the jury didn't take very long to come to the conclusion that this is blatant fraud and not to the slightest extent a little stupid guy who accidentally slipped into something he couldn't handle. Deleting messages, manipulating balance sheets, shifting assets to his parents without consent of the company (except for him as the boss), the list is very long.

And to come back to OP's title: my lord, yes there was improper use of customer funds!

They also said that his PR tour giving interviews on like 50 occasions after FTX crashed also broke him the beck. The prosecutors slapped his own words right into his face from the beginning till the end. Classic case of remaining silent is golden. But they have also said that this was so obvious that no defense strategy would have saved him, but it might have saved him a few years of his life outside prison.

A young guy becoming a billionaire under 30 within months, and crashing within days ending up in prison essentially for lifetime. Impressive... This guy could have had it all.

[Sithara007]

He won't do it. He'll want to wait for the verdict first and this will take at least a year. Then, if he gets 30 years or more, there's a chance he'll do it.

For a young guy, getting out at his 60s or 70s is like a death sentence, especially that he's a weak looking guy. If he got into a prison camp he might survive, but in a normal federal prison he won't make it with all those street thugs around. He'll end up as someone's girlfriend.

Should we care about him? It wasn't a mistake that he made. It was years of stealing before he got caught. He knew what he was doing.
I'd be more willing to release Ross than SBF and Ross is in for life.

LOL.. do you really think that this guy will spend more than a few weeks behind bars? He made hundreds of millions of USD worth of donations to various political causes (the vast majority of which went to the Democrat Party), and his parents are very rich and influential. He may get sentenced to a lengthy jail term, but I don't think that he will serve more than 1% of that time in a proper prison. Ross Ulbricht's case was different. He was from the other extreme of the political prism and he went against the system. You can't compare Sam Bankman Fraud to Ross Ulbricht.