SBF, arrested!

[ChiBitCTy]

Actually I wonder why SBF got arrested? is there any rule he broke? but I can't find any laws that he broke.

It's the risk if anyone leave their coins on centralized exchange and it's their right if they use customers money for investment or other thing to make more money, even banks did that. I believe they have a rule if they're not responsible to recover customers money when something bad happen, all centralized exchange have this rule. So it doesn't make sense for me if SBF go to jail just because this problem.

"It's the risk if anyone leave their coins on centralized exchange and it's their right if they use customers money for investment or other thing to make more money, even banks did that" .. actually banks DO that.  It's called fractional reserve banking and the great crash of 2008 proved how and why this can be a very dangerous proposition.  SBF is yet another example of why this practice should be minimized. 

The guys also did countless amounts of lying and deceiving, so it's not like he didn't do anything wrong, because he certainly did. 

[fennic]

Here's what we're waiting for, after what he's done. I guess everyone who's been a victim of FTX fall is now getting some justice.

FTX founder Sam Bankman-Fried was arrested by Bahamian authorities this evening after the United States Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government, setting the stage for extradition and U.S. trial for the onetime crypto billionaire at the heart of the crypto exchange’s collapse.

News: FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges

That's very surprising and also good news that because the people who are fraud and also SBF made whole Market crash. He got so much money from investors and also than just Scammed with them. Now he is arrested and it is a lesson for those who cheat at a big level. And that's why these types of people should be punished. I think that if this man was in another country rather than IS, Than he might not have be caught.

[bittraffic]

Here's what we're waiting for, after what he's done. I guess everyone who's been a victim of FTX fall is now getting some justice.

FTX founder Sam Bankman-Fried was arrested by Bahamian authorities this evening after the United States Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government, setting the stage for extradition and U.S. trial for the onetime crypto billionaire at the heart of the crypto exchange’s collapse.

News: FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges

That's very surprising and also good news that because the people who are fraud and also SBF made whole Market crash. He got so much money from investors and also than just Scammed with them. Now he is arrested and it is a lesson for those who cheat at a big level. And that's why these types of people should be punished. I think that if this man was in another country rather than IS, Than he might not have be caught.

Either he gets away from this because he had people paid from government position or he still gets punished only with a slap on the wrist. Twitter is a warzone with this news.  

But there were also people like the activist Alexandria Ocasio-Cortez (AOC) asking about the timing of the SBF arrest. If something could happen, since a conspiracy theorist already sees SBF as the fall guy, SBF could just die unexpectedly. And then there's Kevin blaming Binance the cause of the FTX collapse is on the way also. CZ intentionally put FTX out of business 

[koang]

Here's what we're waiting for, after what he's done. I guess everyone who's been a victim of FTX fall is now getting some justice.

The beginning of justice for a thief, The man who took 1 million people's life savings
But there are still others who are just as guilty as the SBF, the celebrities that endorsed FTX, and all the politicians who accept their bribes should also be arrested.
This rabbit hole is deep. Dark money must be investigated!

I hope all the criminal activity is exposed, whether it's one side or both sides

[DapanasFruit]

I don't understand why there are those who think that with the arrest of Sam Bankman-Fried, victims of his shenanigans can get their money back. The answer is a big NO. The money had been mismanaged, squandered and of course, used in trading where they lost. Nobody can be sure when the assets left will eventually be distributed to those entitled of them under the bankruptcy law...and yes it can take years before that will eventually be settled. Remember Mt Gox, for that matter. The most important is that perpetrators (with 's' because Sam is not alone in this mess) can be brought to jussive and be facing a jail time so they can be big examples to all and be a big warning especially in the crypto industry where scammers and hackers are now making their number 1 home and source of huge revenues.

[worle1bm]

I don't understand why there are those who think that with the arrest of Sam Bankman-Fried, victims of his shenanigans can get their money back. The answer is a big NO. The money had been mismanaged, squandered and of course, used in trading where they lost. Nobody can be sure when the assets left will eventually be distributed to those entitled of them under the bankruptcy law...and yes it can take years before that will eventually be settled. Remember Mt Gox, for that matter. The most important is that perpetrators (with 's' because Sam is not alone in this mess) can be brought to jussive and be facing a jail time so they can be big examples to all and be a big warning especially in the crypto industry where scammers and hackers are now making their number 1 home and source of huge revenues.

I don't think that people who have lost the money will get it back because they probably have invested or spend them in various purposes but atleast the authorities should take action against him and this is one of them like putting him behind the bars.He just seems to be normal guy but was running this scam from years which got busted and he is charged with illegal fund transfers and other charges.People will not get funds back but the culprits should be punished for it but we all know the treatment he's going to get in Jail also with the backup funds he have but still in prison.

[skarais]

I don't think that people who have lost the money will get it back because they probably have invested or spend them in various purposes but atleast the authorities should take action against him and this is one of them like putting him behind the bars.He just seems to be normal guy but was running this scam from years which got busted and he is charged with illegal fund transfers and other charges.People will not get funds back but the culprits should be punished for it but we all know the treatment he's going to get in Jail also with the backup funds he have but still in prison.

I'm actually not surprised by the arrest of SBF because basically the government deserves to do it after the FTX debacle. But I am grateful that SBF will be tried and held accountable for its actions which have cost investors billions of dollars. Of course this is good news, but I doubt the lost investor funds will be returned in the end.

I know jailing SBF isn't going to heal everyone's wounds, but at least that's what the government should do to anyone who scam people. It will be interesting how this case is followed up, I hope this becomes something that can restore people's trust in crypto.

[yazher]

This is the news that everyone who has lost funds because of the actions of this crime has been waiting for on the FTX exchange, but what is more desirable for people who have suffered losses is not only to see SBF imprisoned but to be clear about their money, what percentage is the probability that they can get their money back , because even though SBF is in prison, it is possible that when the court later he will only get a light sentence which does not fulfill justice for those who are aggrieved

That's what they are worried about right now and to have him in jail, means they can question him and let to do everything to get their money back even though it's not fully refunded anymore. at least they can get some rather than they gonna let him free and only give their promise which is more likely becomes a false promise because there will be no way for him to get their money back but to use all of his assets to pay all of them some of their shares. That's just how bad things fell on him this year and it would be great for him to spend his life in jail because he might not be safe outside anymore.

[zasad@]

The Government has done what has been long awaited of them to do since after FTX collapse, the government through the security and exchange commission bring and arrest Sam bank Man Fried to answer some question and face the law because no one is above the law.
The Sec need to step up their games in protecting every investor out there without this kind of delays in the future.

In general this is good for the entire crypto industry, and also will bring confidence to investors that invested in FXT and other cryptos that judgment is finally in.

Are you serious? Billions of dollars were stolen and only one person was arrested.
Sam bank Man Fried is arrested for only one reason, he has been talking too much lately and giving interviews. And so that he would not say too much, he was put in jail. And anything can happen to him.

[xSkylarx]

The Government has done what has been long awaited of them to do since after FTX collapse, the government through the security and exchange commission bring and arrest Sam bank Man Fried to answer some question and face the law because no one is above the law.
The Sec need to step up their games in protecting every investor out there without this kind of delays in the future.

In general this is good for the entire crypto industry, and also will bring confidence to investors that invested in FXT and other cryptos that judgment is finally in.

Are you serious? Billions of dollars were stolen and only one person was arrested.
Sam bank Man Fried is arrested for only one reason, he has been talking too much lately and giving interviews. And so that he would not say too much, he was put in jail. And anything can happen to him.

The chances of getting back  the money are too low right? So i am sure there are really people want to threat him or anything can happen to him as most of the people are angry to him so definitely they have contact to hurt him but again it is useless as the money is already gone and not sure if it can be recovered.  So you have speculations that the mastermind on this is a group? and just he is the leader? I havent really followed this but it has possibility as it is a big amount of money.

[franky1]

The chances of getting back  the money are too low right?

well

the new administrator of FTX (mr ray) is still investigating the inner workings of ftx. and trying to find all assets.

but so far Mr ray only has hands on about $1b of funds out of a possible $7-8b hole

there is the LedgerX platform which is solvent and can be sold.

value at post today of the 195,869,337 FTT transfer last month is today $274m

~$1.2b of $8b
about 15% at most so far

call it 10cents on the dollar at most after lawyers and consultants fees

in other related news
kevin oh weary(i mean o'leary)
https://youtu.be/uK7QXlgtbdg?t=15
is trying to suggest that when binance seen bad practices by SBF and requested a refund  and got a refund. kevin is suggesting that binance stole the funds that made everyone else insolvent
(facepalm) shameless guy.

if he is ok with making accusations then he should start closer to home with his best friends SBF

[bakasabo]

There are a lot of private jails in the US. Even if Sam Bankman-Fried really gets into jail, I think he will spend his sentence comfortably. 1000% he wont be spending his sentence with murderers, drug addicted or other dangerous criminals. He will spend several years with similar criminals, that committed financial crimes. Besides, Sams parents are not the last persons in the US. I am sure he will get help from them, shorter sentence and will get out ahead of time. And it all will end with him getting "easy" punishment and he by end he would say everyone that he had served sentence and is not guilty anymore.

I still don't believe all of this until the court has a final verdict on him. I still suspect all of this was created just to satisfy the public because what he has done to the community is terrible. If they do not act, people will lose faith in the government as well as the law, so they will try to find some way to reassure public opinion and affirm that the law will punish everyone without exception. I also believe that SBF will not be punished too severely, let's continue to see how this drama will end.

Are you are trying to say that SBF is not responsible for all that FTX drama and his "I dont know", "I wasnt aware of that" is true in multiple interviews? It is really hard to believe FTX founder was so irresponsible and did not know what his "child" is doing with all that money. Ok, lets suppose he is innocent. Then where all the money have gone ? They did not disappear in a second. It was a long process, and it is hard to believe that SBF did not hear anything about such huge money flows in his campaign.

[electronicash]

The chances of getting back  the money are too low right?

well

the new administrator of FTX (mr ray) is still investigating the inner workings of ftx. and trying to find all assets.

but so far Mr ray only has hands on about $1b of funds out of a possible $7-8b hole

there is the LedgerX platform which is solvent and can be sold.

value at post today of the 195,869,337 FTT transfer last month is today $274m

~$1.2b of $8b
about 15% at most so far

call it 10cents on the dollar at most after lawyers and consultants fees

in other related news
kevin oh weary(i mean o'leary)
https://youtu.be/uK7QXlgtbdg?t=15
is trying to suggest that when binance seen bad practices by SBF and requested a refund  and got a refund. kevin is suggesting that binance stole the funds that made everyone else insolvent
(facepalm) shameless guy.

if he is ok with making accusations then he should start closer to home with his best friends SBF

doesn't sound like him when you are used to watching the shark tank. he is paid to speak for FTX. nothing more to expect from him but already pointing finger to binance. its now who's the bad guy and the good guy.  he highlighted binance monopolizing the crypto market like binance needs to be seized.

you can already tell in his mind that because ftx collapsed, everybody else has to collapse.

[franky1]

of the exchanges..

i find that DCG was invested(ownership claim) in FTX and had contagion. and its sister company greyscale is offering shares. but wont disclose the reserves.. because those reserves are held up in coinbase and coinbase wont reveal the reserves to public not greyscale..

i see DCG being a "bigger risk"

binance has 25m customers. but coinbase has over 60m customers.

seems o'weary is stil a spokesman for "some company" because he is still sounding like he has allegiances even though his ftx employment contract should have expired the moment ftx lost o'leary his own funds

[coolcoinz]

According to O'Leary Binance is responsible for FTX collapse and Sam was doing good. Sam wasn't stealing money, Sam wasn't in debt. They were trying to make deals and get permits but Binance was working against them all the time to undermine their efforts and without CZ dumping FTT there wouldn't be any bankruptcy. He also thinks that Binance should be regulated in the US because it's running wild without any supervision.

Poor Sam, he was a good guy after all. All those properties he bought for himself and his parents, all the donations, 15m given to Kevin for his support, 1B USD given as a loan to his friend... Such a noble man and such a great CEO!

[Rikafip]

Are you are trying to say that SBF is not responsible for all that FTX drama and his "I dont know", "I wasnt aware of that" is true in multiple interviews? It is really hard to believe FTX founder was so irresponsible and did not know what his "child" is doing with all that money.

You probably misunderstood him. He didn't mean that he doesn't believe that SBF is guilty until the verdict, but instead that he doesn't believe this arrest is real and that all this has done for public sake, to appear that they are doing something. I don't think that all this is just show for public, but I also don't think that he will get  a long sentence either.

in other related news
kevin oh weary(i mean o'leary)
https://youtu.be/uK7QXlgtbdg?t=15

Saw it yesterday, really disgusting guy. I guess its easier for his ego to think that someone else is guilty for FTX downfall and not his buddy SBF. Imagine, an experienced investor like himself got scammed by some geek. No way, its someone else's fault.

[Bobrox]

The chances of getting back  the money are too low right? So i am sure there are really people want to threat him or anything can happen to him as most of the people are angry to him so definitely they have contact to hurt him but again it is useless as the money is already gone and not sure if it can be recovered.  So you have speculations that the mastermind on this is a group? and just he is the leader? I havent really followed this but it has possibility as it is a big amount of money.

Based on experience in my country with several hype investment cases, chance getting back our money or refund impossible because all scammer assets confiscated by government and not publish yet transparent where is the flow of money from confiscation. I think FTX exchange money user faced the same cases and less possibility get refund back our money in FTX exchange account.

You can comparison with MtGox after have rumor about the hacker under arrest and all Bitcoin stolen success get back, but still not exact date issues or rumor when the member of MtGox Bitcoin fund refunding.

[kryptqnick]

To be honest, I am pleasantly surprised. I know that the system of Justice is alright in the US, but it still has its major downsides (like the Trump-appointed conservative juries of the highest court), and I thought a capitalist state like the USA would protect its riches, especially if they did their paperwork in time. Apparently, I was wrong, and there is some justice after all. I don't care if he gets prison time (and I don't generally believe in prisons as a proper way of making society better), but I really hope that the victims will be reimbursed upon liquidation of FTX assets and, if that isn't enough, from Bankman's own big pocket.

[cygan]

[NotATether]

I just think that he's just a pawn, and the real people behind him, got the money,
...

Who exactly is the puppeteer of SBF? We're all waiting.

And please don't mention "World Economic Forum" - thats usually a catch-all people use when they don't have other hints

The truth is that this guy is really immature and doesn't know how to run a billion-dollar company properly.

According to O'Leary Binance is responsible for FTX collapse and Sam was doing good. Sam wasn't stealing money, Sam wasn't in debt. They were trying to make deals and get permits but Binance was working against them all the time to undermine their efforts and without CZ dumping FTT there wouldn't be any bankruptcy. He also thinks that Binance should be regulated in the US because it's running wild without any supervision.

Poor Sam, he was a good guy after all. All those properties he bought for himself and his parents, all the donations, 15m given to Kevin for his support, 1B USD given as a loan to his friend... Such a noble man and such a great CEO!

I think you forgot to put an /s at the end.