Sam Bankman-Fried Arrested In The Bahamas, Set For 'Prompt' Extradition After US

[cmg777]

I guess I'm eating crow because I'm shocked they didn't arrest him sooner but I'm sure the trial will go on and on like the Elizabeth Holmes of Theranos.

Sam Bankman-Fried Arrested In The Bahamas, Set For 'Prompt' Extradition After US Files Charges

https://www.zerohedge.com/crypto/sam-bankman-fried-arrested-bahamas-set-prompt-extradition

"Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC."

What are your thoughts, crypto community?

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[Gyfts]

Well, I'm glad I was wrong. I didn't think he would face any criminal charges.

Read the charges briefly, he's facing up to life in prison but no one is ever sentenced at the top of sentence recommendations. If he is in fact guilty after proper due process, throw the book at him.

Elizabeth Holmes frauded about 700M USD, she got 13 years in prison.

Bernard Lawrence Madoff frauded 65B USD, he got 150 years.

If convicted, what could SBF get for vaporizing 10B USD? Perhaps the rest of his life?

[BADecker]

Biden might not be next, but his day is coming.     

[o48o]

Maybe he should have hanged out with Do Kwon as he seems to be too slippery for interpol. However i am interested to see what US laws he broke when FTX didn't even serve US citizens. Maybe something to do with market manipulation. But then again Do Kwon runs free.

[coolcoinz]

Well, I'm glad I was wrong. I didn't think he would face any criminal charges.

Read the charges briefly, he's facing up to life in prison but no one is ever sentenced at the top of sentence recommendations. If he is in fact guilty after proper due process, throw the book at him.

Elizabeth Holmes frauded about 700M USD, she got 13 years in prison.

Bernard Lawrence Madoff frauded 65B USD, he got 150 years.

If convicted, what could SBF get for vaporizing 10B USD? Perhaps the rest of his life?

Maybe this was all a charade to appease the public. People would be furious if they let him of the hook but now they'll make all the hearings, committees, maybe a trial... and then let him go. He'll get a long list of sentences but if you sum them all up it's going to be like a million dollar fine, 2 years of house arrest and a lifetime ban on running companies.

I doubt he'll get 10 years but given what he did he should at least get that.

[OgNasty]

I'm not so sure we'll see a 'Prompt' Extradition to the US.  I imagine his lawyers will probably be fighting that for a while in order to keep him in a nice cushy penthouse in the Bahamas as long as possible.  I also believe he'll probably get bail and be placed on some sort of house arrest while he awaits trial.  We'll see...  He donated a lot of money to a lot of important people, so I imagine he has no shortage of legal counsel that will pull all the strings in the world to keep him safe and happy.  I'd love to be wrong, but I think his funneling money to the right democrats will keep him from seeing too much time in a cell.  That or he'll be suicided.  

[cmg777]

Maybe he should have hanged out with Do Kwon as he seems to be too slippery for interpol. However i am interested to see what US laws he broke when FTX didn't even serve US citizens. Maybe something to do with market manipulation. But then again Do Kwon runs free.

Yeah Do Kwon is the elephant in the room. Have you noticed since SBF's collapse of FTX occurred there has been little to no news about Do Kwon? I'd say he was definitely the domino that brought the crypto industry to its knees followed by other exchanges that had an interest in Do Kwon's LUNA. SBF was merely the second domino to fall. Will Binance and Tether be the next to fall? Your thoughts?

Well, I'm glad I was wrong. I didn't think he would face any criminal charges.

Read the charges briefly, he's facing up to life in prison but no one is ever sentenced at the top of sentence recommendations. If he is in fact guilty after proper due process, throw the book at him.

Elizabeth Holmes frauded about 700M USD, she got 13 years in prison.

Bernard Lawrence Madoff frauded 65B USD, he got 150 years.

If convicted, what could SBF get for vaporizing 10B USD? Perhaps the rest of his life?

Maybe this was all a charade to appease the public. People would be furious if they let him of the hook but now they'll make all the hearings, committees, maybe a trial... and then let him go. He'll get a long list of sentences but if you sum them all up it's going to be like a million dollar fine, 2 years of house arrest and a lifetime ban on running companies.

I doubt he'll get 10 years but given what he did he should at least get that.

Probably if he can bribe them with the hidden stolen money.

I'm not so sure we'll see a 'Prompt' Extradition to the US.  I imagine his lawyers will probably be fighting that for a while in order to keep him in a nice cushy penthouse in the Bahamas as long as possible.  I also believe he'll probably get bail and be placed on some sort of house arrest while he awaits trial.  We'll see...  He donated a lot of money to a lot of important people, so I imagine he has no shortage of legal counsel that will pull all the strings in the world to keep him safe and happy.  I'd love to be wrong, but I think his funneling money to the right democrats will keep him from seeing too much time in a cell.  That or he'll be suicided.  

You know I was thinking this the other day that he'd be Epstein'd suicided and then disappear. Only to reappear with big beard and a ZZTop hat if catch what I'm saying moving to Israel.

Well, I'm glad I was wrong. I didn't think he would face any criminal charges.

Read the charges briefly, he's facing up to life in prison but no one is ever sentenced at the top of sentence recommendations. If he is in fact guilty after proper due process, throw the book at him.

Elizabeth Holmes frauded about 700M USD, she got 13 years in prison.

Bernard Lawrence Madoff frauded 65B USD, he got 150 years.

If convicted, what could SBF get for vaporizing 10B USD? Perhaps the rest of his life?

Well said, I still think they'll drag this trial out almost as long as the Elizabeth Holmes trial. Who knows what they'll give him for charges. I wonder if his girlfriend will cut a deal or already has which is why he is being arrested.

_______________________________________________________________________________ _________________________________

Anyway, check this one out:

Sam Bankman-Fried on Luna, Genesis & 3AC [UNRELEASED AUDIO]

https://www.youtube.com/watch?v=T_Sue4Ca0dI

[sunsilk]

Many have thought that he won't be arrested when he's walking freely going into conventions and had those talking engagements.

And he's even got the nerve to refuse a hearing that he's caused for the role he's got for the falling of FTX. Well, he deserved it and each and everyone that has been part of it.

Maybe Caroline is going to be next? The girl had played with futures with not just a joke amount but billions worth.

[Majestic-milf]

Finally, a news to brighten my day!! And here I was thinking his punishment would be a slap on the wrist and the matter would be swept under the rug.(you know how crooked in a way the justice system operates in the US sometimes).

 I guess it's time to drop the "hapless chief who knew absolutely nada about defrauding his customers" act and face due punishment like an adult. Too bad all the cards are falling now and there's no one( not even the folks from the Washington election circle where he donated loads of cash) can help.

[coolcoinz]

Imagine if the guy gets 10 years. It's going to be hard going from eating shrimps, being interviewed as the most generous CEO in the world and fucking your roommates into a reality where you eat "mack" and ramen noodles, and being interviewed by a warden. Well, at least he'll still be able to fuck his roomcellmates.
If he gets lucky he won't need any reconstructive surgery when he gets out and has a a small fortune in FTT tokens stashed somewhere. Oh, wait...

[o48o]

Yeah Do Kwon is the elephant in the room. Have you noticed since SBF's collapse of FTX occurred there has been little to no news about Do Kwon? I'd say he was definitely the domino that brought the crypto industry to its knees followed by other exchanges that had an interest in Do Kwon's LUNA. SBF was merely the second domino to fall. Will Binance and Tether be the next to fall? Your thoughts?

Well i thought next one would be crypto.com but seems like they'll be fine. Binance or tether collapsing would take us somewhere so deep i wouldn't gold anything but maybe short positions. I've thought that i should keep money in somewhere with good shorting options for just in case. Because even If only binance would fail there's no crypto i would want to hold for least a year.

[franky1]

prompt extradition?
last i checked he has to stay until february at the earliest
yet i can buy a ticket and be in america by this weekend

[PrimeNumber7]

"Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC."

This is false. SBF had agreed to testify before congress and was set to testify hours before his arrest.

The fact that his arrest effectively prevented his testimony makes it appear that corruption in the doj was involved in the timing of his arrest. It appeared that SBF was not taking legal advice from lawyers, and he would likely have incriminated himself while testifying. 

[tvbcof]

My guess is that he will get convicted and sentenced, then have a tragic heart attack and be cremated the next day.  Like Ken Lay.

Unlike in Lay's day, SADS is a thing now.  'Expert's say'(tm).  Every woke leftist will truly believe the story, and they'll support censorship for anyone who expresses doubt about it.

[nutildah]

Something is amiss in the assembly line at the Bad Take Factory.

My guess is that he will get convicted and sentenced, then have a tragic heart attack and be cremated the next day.  Like Ken Lay.

Except that's not what happened. He while on vacation, three months before sentencing. He wasn't even cremated the next day -- it was four days later and after an autopsy that found he suffered from coronary artery disease.

https://en.wikipedia.org/wiki/Kenneth_Lay

Surprised you didn't just go with Epstein.

Unlike in Lay's day, SADS is a thing now.  'Expert's say'(tm).  Every woke leftist will truly believe the story, and they'll support censorship for anyone who expresses doubt about it.

What's the point in conjuring such righteous indignation over a story that you personally imagined?

[tvbcof]

True about Ken Lay not being 'sentanced'.  I forgot about how convicted criminals get half a year off to vacation before sentencing if they have enough money.

  https://gatorpress.com/?p=3251

In looking up that article I was reminded that DailyBeast, DailyKos, and a bunch of others that are probably your new woke fodder actually used to be worth skimming from time to time.  They were pretty incredulous about the Ken Lay story too, but that was back in the day.  I'm actually surprised they've not yet 404'd their older worthwhile content, but don't care enough to save it to archive.today or some like site (or local drive).

[cmg777]

True about Ken Lay not being 'sentanced'.  I forgot about how convicted criminals get half a year off to vacation before sentencing if they have enough money.

  https://gatorpress.com/?p=3251

In looking up that article I was reminded that DailyBeast, DailyKos, and a bunch of others that are probably your new woke fodder actually used to be worth skimming from time to time.  They were pretty incredulous about the Ken Lay story too, but that was back in the day.  I'm actually surprised they've not yet 404'd their older worthwhile content, but don't care enough to save it to archive.today or some like site (or local drive).

I've made a poll since this is a contentious topic among the community to gather more thoughts on this topic.

[paxmao]

Well, I'm glad I was wrong. I didn't think he would face any criminal charges.

Read the charges briefly, he's facing up to life in prison but no one is ever sentenced at the top of sentence recommendations. If he is in fact guilty after proper due process, throw the book at him.

Elizabeth Holmes frauded about 700M USD, she got 13 years in prison.

Bernard Lawrence Madoff frauded 65B USD, he got 150 years.

If convicted, what could SBF get for vaporizing 10B USD? Perhaps the rest of his life?

Maybe this was all a charade to appease the public. People would be furious if they let him of the hook but now they'll make all the hearings, committees, maybe a trial... and then let him go. He'll get a long list of sentences but if you sum them all up it's going to be like a million dollar fine, 2 years of house arrest and a lifetime ban on running companies.

I doubt he'll get 10 years but given what he did he should at least get that.

Guy is guilty as sin, to jail with him and throw the key in the sea.  There must be no special treatment for monetary and fiscal offences, it is as bad as stealing and there has to be an exemplary punishment. The gold is so shiny and the money so green that hard punishment may be the only deterrent for the future wannabies.

Biden might not be next, but his day is coming.     

As usual off-topic. You have not been around in the mid-terms have you? Would you like to re-interpret reality for these too?

[BADecker]

...

Biden might not be next, but his day is coming.     

As usual off-topic. You have not been around in the mid-terms have you? Would you like to re-interpret reality for these too?

The reason why they want to extradite him out of the Bahamas so fast is, they are trying to shut him up. His activities in supplying funds to Biden and the Dems didn't simply happen because he loves the Dem Party and what they are doing. Rather, he did it under instructions, and the Dems and Biden need to get him into their direct control before he spills the beans about how they directed his activities.

Sam Bankman-Fried is one of the first dominoes to fall. His failure is just the first. Many in Congress will fall right along with Biden... possibly because of what Sam Bankman-Fried might reveal, if he is allowed the time to talk, and especially if he is allowed to be depositioned.

[o48o]

-cut-
Sam Bankman-Fried is one of the first dominoes to fall.
-cut-

Is the whole world full of dominos waiting to fall on Hillary and Biden or something?

Do you know that there were other people other then Sam as well that were operating FTX and Alameda research. That people have been looking at those transactions and tracing the money all this time. So what in earth could Sam say? That they were sacrificing virgin aliens on their secret Biden sex pool parties? Real world isn't that exciting nor you have any secret information about it.
Sam already said that he messed up and didn't really know what he was doing. It will be hard to prove malevolent intent behind it, although that woudn't make any difference for the outcome.

So maybe get a room with your Kraken already.

[PrimeNumber7]

I've made a poll since this is a contentious topic among the community to gather more thoughts on this topic.

You left out an option -- the DOJ "throws" the case and SBF gets off scot-free.

It makes no sense for the DOJ to arrest SBF before he was going to speak under oath about matters related to his likely crimes, and potentially make admissions of guilt. It appears that FTX had very sloppy recordkeeping procedures, so it may be difficult to prove fraud from FTX's records alone.

[TwitchySeal]

"Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC."

This is false. SBF had agreed to testify before congress and was set to testify hours before his arrest.

The fact that his arrest effectively prevented his testimony makes it appear that corruption in the doj was involved in the timing of his arrest. It appeared that SBF was not taking legal advice from lawyers, and he would likely have incriminated himself while testifying. 

No, it's not false.  He refused to speak to the Senate banking committee.

https://cointelegraph.com/news/sbf-misses-the-senate-hearing-but-promises-to-testify-to-the-house-law-decoded

[PrimeNumber7]

"Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC."

This is false. SBF had agreed to testify before congress and was set to testify hours before his arrest.

The fact that his arrest effectively prevented his testimony makes it appear that corruption in the doj was involved in the timing of his arrest. It appeared that SBF was not taking legal advice from lawyers, and he would likely have incriminated himself while testifying. 

No, it's not false.  He refused to speak to the Senate banking committee.

https://cointelegraph.com/news/sbf-misses-the-senate-hearing-but-promises-to-testify-to-the-house-law-decoded

My mistake. Although the detail is a technical one.

SBF missed the deadline to say that he will testify before the senate. He had said that he will testify before the house. He was going to testify before the house hours before he was arrested.

Btw, I think it is likely that SBF didn’t understand how to properly respond to say that he would testify before the senate. There isn’t any reason why he would testify before the house but not the senate. There was testimony that was leaked that SBF was planning on making.

[goldkingcoiner]

If convicted, what could SBF get for vaporizing 10B USD? Perhaps the rest of his life?

Well if you take the history of billionaire criminals into account then he will probably be a free man within weeks or months, even if he were to be convicted lawfully (as he should be). Justice usually fails when bribed.

Worst case scenario for him: he will spend a couple of years in a luxury prison which cannot even be called a real prison, or under "house arrest". He probably has some money hidden away in some obscure accounts/addresses that nobody knows even exist.

He deserves way way worse. He is a thief. A rich thief. All the evidence is there but nobody prosecutes the rich (as long as they are "rich enough")

[TwitchySeal]

"Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC."

This is false. SBF had agreed to testify before congress and was set to testify hours before his arrest.

The fact that his arrest effectively prevented his testimony makes it appear that corruption in the doj was involved in the timing of his arrest. It appeared that SBF was not taking legal advice from lawyers, and he would likely have incriminated himself while testifying.  

No, it's not false.  He refused to speak to the Senate banking committee.

https://cointelegraph.com/news/sbf-misses-the-senate-hearing-but-promises-to-testify-to-the-house-law-decoded

My mistake. Although the detail is a technical one.

SBF missed the deadline to say that he will testify before the senate. He had said that he will testify before the house. He was going to testify before the house hours before he was arrested.

Btw, I think it is likely that SBF didn’t understand how to properly respond to say that he would testify before the senate. There isn’t any reason why he would testify before the house but not the senate. There was testimony that was leaked that SBF was planning on making.

Yeah it doesn't really make sense, he definitely wasn't picky about who he was willing to speak with before they took him away.  His lawyers did say that he was "unwilling to accept service of a subpoena" when addressing why he wasn't talking to the Senate, but I don't see why he would care if a subpoena were involved.  Can testifying after being subpoenad expose you to less legal risk than doing it voluntarily?  Either way he's obviously been ignoring his lawyers advice...

[Gyfts]

If convicted, what could SBF get for vaporizing 10B USD? Perhaps the rest of his life?

Well if you take the history of billionaire criminals into account then he will probably be a free man within weeks or months, even if he were to be convicted lawfully (as he should be). Justice usually fails when bribed.

Worst case scenario for him: he will spend a couple of years in a luxury prison which cannot even be called a real prison, or under "house arrest". He probably has some money hidden away in some obscure accounts/addresses that nobody knows even exist.

He deserves way way worse. He is a thief. A rich thief. All the evidence is there but nobody prosecutes the rich (as long as they are "rich enough")

I'm cautiously optimistic. Once the U.S. Dept. of Justice indicts then he has almost sealed his fate. The feds have something like a 95% conviction rate so even with the best lawyers SBF will retain, they can't make bad facts disappear. And it's an unquestionable fact that SBF was oversaw the vaporization of billions in user funds. How his lawyers will try and explain away SBF's role will be up to them, of course.

If he gets convicted he'll be sent to a federal prison, most likely low security as many other white collar criminals. Won't be a hardened max security prison, but it also won't be luxury.

[goldkingcoiner]

If convicted, what could SBF get for vaporizing 10B USD? Perhaps the rest of his life?

Well if you take the history of billionaire criminals into account then he will probably be a free man within weeks or months, even if he were to be convicted lawfully (as he should be). Justice usually fails when bribed.

Worst case scenario for him: he will spend a couple of years in a luxury prison which cannot even be called a real prison, or under "house arrest". He probably has some money hidden away in some obscure accounts/addresses that nobody knows even exist.

He deserves way way worse. He is a thief. A rich thief. All the evidence is there but nobody prosecutes the rich (as long as they are "rich enough")

I'm cautiously optimistic. Once the U.S. Dept. of Justice indicts then he has almost sealed his fate. The feds have something like a 95% conviction rate so even with the best lawyers SBF will retain, they can't make bad facts disappear. And it's an unquestionable fact that SBF was oversaw the vaporization of billions in user funds. How his lawyers will try and explain away SBF's role will be up to them, of course.

If he gets convicted he'll be sent to a federal prison, most likely low security as many other white collar criminals. Won't be a hardened max security prison, but it also won't be luxury.

Only a 95% conviction rate? What happened to that extra 5%? Is that the 5% of the rich that can buy themselves out (from under the table, of course). Sorry but I have absolutely no faith in the justice system anymore. The only reason it seemingly exists is to prosecute the poor. The rich basically have a kind of diplomatic immunity which everybody knows but nobody talks about.

Perhaps the justice system is not only for convicting the poor because they are poor but rather as a way to scare and control the public into doing what they want. Setting an example, basically.

[cmg777]

I've made a poll since this is a contentious topic among the community to gather more thoughts on this topic.

You left out an option -- the DOJ "throws" the case and SBF gets off scot-free.

It makes no sense for the DOJ to arrest SBF before he was going to speak under oath about matters related to his likely crimes, and potentially make admissions of guilt. It appears that FTX had very sloppy recordkeeping procedures, so it may be difficult to prove fraud from FTX's records alone.

Well technically he is in a Bahamas-jail so therefore he is in jail right now. So that is why Option 4 and 6 are the equivalent to what you are saying.


CZ might be going down as well. He hasn't paid tribute to the US politicians as SBF has.

BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!
https://www.youtube.com/watch?v=dD5Xp7zTO68

[o48o]

-cut-
BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!
https://www.youtube.com/watch?v=dD5Xp7zTO68

So chico crypto's proof about this another twitter influencer getting DMs from an unknown account. And those DMs were just vague fud from a guy even the original twitter account.

And this "exchanges are coordinating together" being illegal how exactly? We have known this for years that big exchanges are coordinating amongst themselves in chats where they talk about tracking stolen funds etc. If i recall correctly CZ himself has comfirmed this in a tweet or in an interview. Rest of the video was just basically repeating what has happened and hoping that's enough for the jump of faith to proof.

Involving old bitfinex fud at the end into this with that annoying voice/attitude/mannerism makes me hopes video would just end.

Hate to say but contrary to what the video title claims this is not PROOF.

[cmg777]

-cut-
BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!
https://www.youtube.com/watch?v=dD5Xp7zTO68

So chico crypto's proof about this another twitter influencer getting DMs from an unknown account. And those DMs were just vague fud from a guy even the original twitter account.

And this "exchanges are coordinating together" being illegal how exactly? We have known this for years that big exchanges are coordinating amongst themselves in chats where they talk about tracking stolen funds etc. If i recall correctly CZ himself has comfirmed this in a tweet or in an interview. Rest of the video was just basically repeating what has happened and hoping that's enough for the jump of faith to proof.

Involving old bitfinex fud at the end into this with that annoying voice/attitude/mannerism makes me hopes video would just end.

Hate to say but contrary to what the video title claims this is not PROOF.

So in a way I would hope to agree with you that Binance or Tether won't falter during this crypto cycle. However, the evidence is mounting that they are both illiquid as are so many other exchanges and banks because they all operate as fractional reserve houses of cards.

So here is the biggest conspiracy of all in crypto... So there are small and mid actors that sure have lots of crypto but question was were they ethical and actually care about their community? Just as Wall Street and Hollywood have talking heads of perception enter SBF, CZ and all the rest. I'm thinking the bigs from Wall Street are trying to shake down the small and mid actors in the crypto space so they can control our space as well just like Wall Street and commodities in general. So CZ and SBF were merely actors literally and totally just to make the big Wall Street people look like our saviors when they both crash their own exchanges. Problem (Crypto brings too much freedom we need to control it) Reaction (implement bad actors SBF and CZ) Solution (Come in as the saviors and control it all)

[TwitchySeal]

BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!
https://www.youtube.com/watch?v=dD5Xp7zTO68

I don't see them ever catching CZ if they do decide to file charges.  With essentially unlimited money that no government can seize, I'm not sure if he'd be at risk of being extradited from his home in Singapore, but if he is, I imagine  he has well thought out plan to live a very comfortable life somewhere that won't, like Vietnam.  He's probably there already.  

[cmg777]

BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!
https://www.youtube.com/watch?v=dD5Xp7zTO68

I don't see them ever catching CZ if they do decide to file charges.  With essentially unlimited money that no government can seize, I'm not sure if he'd be at risk of being extradited from his home in Singapore, but if he is, I imagine  he has well thought out plan to live a very comfortable life somewhere that won't, like Vietnam.  He's probably there already.  

You have a point. They never caught Do Kwon. I'd say he was a bigger domino than even SBF. Anyway, I think that CZ is backed by Chinese banks or even underground organizations but might be more leveraged than SBF (which was quite high). Vietnam is definitely a good place to run to because of the cheap cost of living and you can easily blend into a small village.

Back to SBF

SBF Changes Mind On Extradition To US After Four Days In Bahamian Jail
https://www.zerohedge.com/political/sbf-changes-mind-extradition-us-after-five-days-bahamian-jail

[o48o]

So here is the biggest conspiracy of all in crypto... So there are small and mid actors that sure have lots of crypto but question was were they ethical and actually care about their community? Just as Wall Street and Hollywood have talking heads of perception enter SBF, CZ and all the rest. I'm thinking the bigs from Wall Street are trying to shake down the small and mid actors in the crypto space so they can control our space as well just like Wall Street and commodities in general. So CZ and SBF were merely actors literally and totally just to make the big Wall Street people look like our saviors when they both crash their own exchanges. Problem (Crypto brings too much freedom we need to control it) Reaction (implement bad actors SBF and CZ) Solution (Come in as the saviors and control it all)

I think that demanding that they care about their community is too much to ask, and even irrelevant if they care or not. If they are not braking any laws and follow regulations, that's good enough for me. I am assuming that people from wall street want to capitalize on crypto markets, but i don't think that they want to be seen as "rock stars" with fan base like in crypto, we tend to idolize our leaders. But wall street doesn't really make the rules about control, FATF and organisations like it does.

If wall street could choose, they would definitely choose freedom. They just don't see custodial ownership as freedom, as they know they will have to work with regulators. Like the rest of us will in the future.

[PrimeNumber7]

"Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC."

This is false. SBF had agreed to testify before congress and was set to testify hours before his arrest.

The fact that his arrest effectively prevented his testimony makes it appear that corruption in the doj was involved in the timing of his arrest. It appeared that SBF was not taking legal advice from lawyers, and he would likely have incriminated himself while testifying. 

No, it's not false.  He refused to speak to the Senate banking committee.

https://cointelegraph.com/news/sbf-misses-the-senate-hearing-but-promises-to-testify-to-the-house-law-decoded

My mistake. Although the detail is a technical one.

SBF missed the deadline to say that he will testify before the senate. He had said that he will testify before the house. He was going to testify before the house hours before he was arrested.

Btw, I think it is likely that SBF didn’t understand how to properly respond to say that he would testify before the senate. There isn’t any reason why he would testify before the house but not the senate. There was testimony that was leaked that SBF was planning on making.

Yeah it doesn't really make sense, he definitely wasn't picky about who he was willing to speak with before they took him away.  His lawyers did say that he was "unwilling to accept service of a subpoena" when addressing why he wasn't talking to the Senate, but I don't see why he would care if a subpoena were involved.  Can testifying after being subpoenad expose you to less legal risk than doing it voluntarily?  Either way he's obviously been ignoring his lawyers advice...

It's possible that subpoenas may have been sent to his lawyer instead of him directly, and his lawyers may have acted against his client's intentions (even if they may have been the most prudent thing to do).

It doesn't really make sense to refuse to testify before congress anyway. If he believed it was in his best interest to not testify, he could simply plead the 5th and not answer questions. Although his history indicates that even pleading the 5th is unlikely. This again raises the question as to why SBF would have been arrested before scheduled testimony before congress (the house) when he had indicated he would testify. This smells of political corruption.

I'm cautiously optimistic. Once the U.S. Dept. of Justice indicts then he has almost sealed his fate. The feds have something like a 95% conviction rate so even with the best lawyers SBF will retain, they can't make bad facts disappear. And it's an unquestionable fact that SBF was oversaw the vaporization of billions in user funds. How his lawyers will try and explain away SBF's role will be up to them, of course.

You are assuming the DOJ is trying to get a conviction. I have yet to see an explanation as to why SBF was arrested less than 24 hours before he was scheduled to appear before congress to testify about FTX. IMO, it is almost certain that he would have made statements that would have helped the prosecution.

BINANCE WILL FALL NEXT!!! We Have The *PROOF* CZ Will Be ARRESTED SOON!!!!

I doubt it. Binance does not appear to be run by liberal idiots. I am sure that Binance is not perfect, and they may or may not be violating US securities laws, but I don't think that Binance is doing anything that would resemble embezzlement to any reasonable person.

[mvdheuvel1983]

Just before he was scheduled to testify before Congress. I'm hoping they find a way to bring him before Congress.
There are far too many people in Washington, D.C., who are connected to him—I'm talking about well-known politicians. He should be taken to jail. He ruined the lives of countless people.

[o48o]

A twist: he will not be extradited. This gets interesting.

https://en.ethereumworldnews.com/ftxs-sam-bankman-fried-will-not-be-extradited-to-the-united-states/

I am not so sure if this is good news for Sam, it's not like prisons in Bahama are famous for their luxury 5 star sells or hospitality. I don't thin that SBF would die there, that would draw too much international attention but i am pretty sure that some criminals in there want his hidden secret bitcoin privatekey stashs, as i am sure he has some.

This would make interesting movie. All we need now is a prison brake and sam to disappear and it would be D.B. Cooper 2.0

[TwitchySeal]

A twist: he will not be extradited. This gets interesting.

https://en.ethereumworldnews.com/ftxs-sam-bankman-fried-will-not-be-extradited-to-the-united-states/

I am not so sure if this is good news for Sam, it's not like prisons in Bahama are famous for their luxury 5 star sells or hospitality. I don't thin that SBF would die there, that would draw too much international attention but i am pretty sure that some criminals in there want his hidden secret bitcoin privatekey stashs, as i am sure he has some.

This would make interesting movie. All we need now is a prison brake and sam to disappear and it would be D.B. Cooper 2.0

So he must be about to be charged in the Bahamas , right?

[o48o]

-cut-
So he must be about to be charged in the Bahamas , right?

Guess not, he is being extracted again, not sure when, but i am sure he has time to change his mind again. Apprently he can spend his whole life in prison if extracted to US. I am still baffled on what charges. Probably market manipulation as he didn't steal anyone from U.S. Least i think he didn't

https://bitcoinist.com/sam-is-fried-ftx-ceo-agrees-to-extradition/

[coolcoinz]

SBF wanted to fight the extradition but changed his mind after a couple days in a rat infested prison. It appears he now wants to go to the US because he wants to be on a vegan diet and doesn't want to be chewed on by rats at night.
AFAIK he's facing over 100 years in prison if found guilty of all the charges. Best case scenario for him is a sentence similar to that of Elizabeth Holmes, which means he'll be in his 40s when he comes out. I doubt his donations will get him out of this. There's no gain in helping him avoid prison.

[TwitchySeal]

SBF wanted to fight the extradition but changed his mind after a couple days in a rat infested prison. It appears he now wants to go to the US because he wants to be on a vegan diet and doesn't want to be chewed on by rats at night.
AFAIK he's facing over 100 years in prison if found guilty of all the charges. Best case scenario for him is a sentence similar to that of Elizabeth Holmes, which means he'll be in his 40s when he comes out. I doubt his donations will get him out of this. There's no gain in helping him avoid prison.

He also wants some adderall, which, I can't imagine any prison in the world gives to inmates.  I could be wrong - but if I'm not, I bet he puts on 70+ pounds in the next year and stops being a vegan as soon as food starts tasting like food again.  Even if it's prison food.

[Gyfts]

SBF gets 250 MILLION USD bail: https://www.nytimes.com/2022/12/22/business/sam-bankman-fried-ftx-bail.html

Conditions of the bail: Confined to his parents home, passport revoked, banned from flying, is under constant monitoring through an ankle bracelet monitor.

SBF claims to have 100k USD in his bank account, but he has access to 250M in capital to post his bail. This is the largest pretrial bail ever posted in history. One might ponder as to how this clown who claims to be broke is able to secure funds for bail. Seems like his parents posted the bail using property as collateral, and we already know his parents got a lot of the FTX money funnel to them through extravagant purchases.

Maybe his parents should be investigated too.

[o48o]

SBF gets 250 MILLION USD bail: https://www.nytimes.com/2022/12/22/business/sam-bankman-fried-ftx-bail.html

Conditions of the bail: Confined to his parents home, passport revoked, banned from flying, is under constant monitoring through an ankle bracelet monitor.

SBF claims to have 100k USD in his bank account, but he has access to 250M in capital to post his bail. This is the largest pretrial bail ever posted in history. One might ponder as to how this clown who claims to be broke is able to secure funds for bail. Seems like his parents posted the bail using property as collateral, and we already know his parents got a lot of the FTX money funnel to them through extravagant purchases.

Maybe his parents should be investigated too.

They probably are being investigated right now as investigators are looking for bllions that disappeared, they have to count pretty much everything that left ftx at some point. It would be interesting to know how much money SBH parents got from FTX if they can afford that bail.

But this is going to be an interesting trial with ton of unheard testimonies from witnesses, and FTX and Alameda Research. Who knows what we will hear. I am sort of hoping it will be televised. Could be even more intriguing then Johnny Depp in court.

[cmg777]

SBF gets 250 MILLION USD bail: https://www.nytimes.com/2022/12/22/business/sam-bankman-fried-ftx-bail.html

Conditions of the bail: Confined to his parents home, passport revoked, banned from flying, is under constant monitoring through an ankle bracelet monitor.

SBF claims to have 100k USD in his bank account, but he has access to 250M in capital to post his bail. This is the largest pretrial bail ever posted in history. One might ponder as to how this clown who claims to be broke is able to secure funds for bail. Seems like his parents posted the bail using property as collateral, and we already know his parents got a lot of the FTX money funnel to them through extravagant purchases.

Maybe his parents should be investigated too.

They probably are being investigated right now as investigators are looking for bllions that disappeared, they have to count pretty much everything that left ftx at some point. It would be interesting to know how much money SBH parents got from FTX if they can afford that bail.

But this is going to be an interesting trial with ton of unheard testimonies from witnesses, and FTX and Alameda Research. Who knows what we will hear. I am sort of hoping it will be televised. Could be even more intriguing then Johnny Depp in court.

I would compare it more to the Epstein trial than Johnny Depp's trial. One minute its a big deal on TV but then he is either killed or the mainstream media stops reporting on it suddenly. The reason why is because of who is in power of the country right now and they are the same people that he donated a majority of his money to: The Democratic party. I will admit he donated money to the other aisle (Republicans) just to cover his bases but it is interesting that this came out after he was caught to try and obfuscate things as usual. So looks like this was a Bankman-Fried family affair as his brother Gabe was involved:


SBF Was Meeting With Senior White House Officials Shortly Before FTX Collapse
https://www.zerohedge.com/political/sbf-met-senior-white-house-officials-ftx-collapse


"On Sept. 8, SBF met with senior Biden adviser Steve Ricchetti in a previously unreported encounter, White House officials familiar with the matter said. The meeting was "the latest in a handful of sessions," according to the report.

Bankman-Fried had at least three others previously disclosed in White House visitor logs. They include one April 22 and another May 12, each with Ricchetti, and one a day later, on May 13, with Bruce Reed, another senior Biden aide, officials confirmed. The final meeting is recorded in logs as two meetings held back-to-back, but was one meeting, officials said. Some of the prior White House meetings included others from FTX. -Bloomberg".

"According to one source, "politics" were not discussed despite SBF being a Democrat megadonor credited as a major factor in President Biden's 2020 win. Instead, the brothers allegedly talked about general matters related to the 'crypto industry and exchanges,' as well as "pandemic prevention related to the foundation, Guarding Against Pandemics, run by Gabe Bankman-Fried," according to an official."

[Gyfts]

...

What I found odd about the bail conditions is that if it turns out SBF's parents were funneled FTX funds and the feds indicted them and freeze their assets, seems like the bond funds would then be invalidated because there isn't valid collateral. If bail was 250M, SBF pays a bonds company 10 percent of that amount and is released. Bond company would be out of a lot of money if the feds seized that property.

I too would love to see this televised, but federal court cases don't allow cameras in the courtroom. They usually allow journalists to watch CCTV footage of the trial live so at least we'll have some second hand reporting.

[PrimeNumber7]

SBF gets 250 MILLION USD bail: https://www.nytimes.com/2022/12/22/business/sam-bankman-fried-ftx-bail.html

Conditions of the bail: Confined to his parents home, passport revoked, banned from flying, is under constant monitoring through an ankle bracelet monitor.

SBF claims to have 100k USD in his bank account, but he has access to 250M in capital to post his bail. This is the largest pretrial bail ever posted in history. One might ponder as to how this clown who claims to be broke is able to secure funds for bail. Seems like his parents posted the bail using property as collateral, and we already know his parents got a lot of the FTX money funnel to them through extravagant purchases.

Maybe his parents should be investigated too.

My understanding is that the bail is not much different than a signature bond. His parents put up their equity in their home (valued at roughly $3 million), and some third party made some kind of guarantee. SBF stands to lose very little if he ends up fleeing the country to avoid standing trial, although I think it is likely that he will wait to see the strength of the evidence before doing so.

[cmg777]

I'm locking voting sometime in February so vote on

Sam Bankman-Fried’s Alameda Research troubles predate FTX: Report
https://cointelegraph.com/news/sam-bankman-fried-s-alameda-research-troubles-predate-ftx-report

U.S. DOJ to seize $465 million of Robinhood shares tied to Bankman-Fried

https://www.reuters.com/business/finance/us-doj-process-seizing-robinhood-shares-tied-bankman-fried-2023-01-04/

FTX customers want more info on FTX’s plans to sell subsidiaries
https://cointelegraph.com/news/ftx-customers-want-more-info-on-ftx-s-plans-to-sell-subsidiaries

Three Arrows Capital founders subpoenaed on Twitter
https://cointelegraph.com/news/three-arrows-capital-founders-subpoenaed-on-twitter

[Swordsoffreedom]

I'm locking voting sometime in February so vote on

The trial was adjourned until October on the grounds that Sam had refused to plead guilty to the announced charges. I am beginning to believe that he will only have to spend a while in prison or maybe even less house arrest than the 115-year prison sentence that had been predicted. I wouldn't be surprised if that's the result, given what he donates to politicians, and with the money he has on hand, he can buy justice anywhere, anytime. Maybe he will find a way to lure two of his accomplices to accept me for him, and he will pay them a handsome sum.

[Gyfts]

This is old news but I wasn't aware that SBF's girlfriend(?) had already plead guilty to federal charges: https://www.coindesk.com/policy/2022/12/22/alameda-chief-caroline-ellison-ftxs-gary-wang-plead-guilty-to-fraud-charges/

I missed the press briefing, I figured it would've been bigger news: https://www.justice.gov/usao-sdny/pr/united-states-attorney-announces-extradition-ftx-founder-samuel-bankman-fried-united

Looks like she faces a maximum of 100 years but if she accepted the plea they probably gave her much less. Feds have a high conviction rate so the necessity of a plea deal isn't terribly important unless the accused legitimately thinks they don't have a shot going through a jury trial. Her lawyers would have advised her of this.

When taking a plea deal, the client is required to admit wrongdoing and those admissions could become admissible should she testify in SBF's trial. These guilty pleas are going to make it a lot easier to convict SBF.

[cmg777]

FTX asset sales challenged by U.S. Trustee: Report
https://cointelegraph.com/news/ftx-asset-sales-challenged-by-u-s-trustee-report

Sam Bankman-Fried's charitable donations sought by FTX: Report
https://cointelegraph.com/news/sam-bankman-fried-s-charitable-donations-sought-by-ftx-report

Funny doesn't mention the Ukraine donations...

_______________________________________________________________________________ ___________________

Wyre imposes up to a 90% withdrawal limit for all users
https://cointelegraph.com/news/wyre-imposes-up-to-a-90-withdrawal-limit-for-all-users

Digital Currency Group under investigation by U.S. authorities: Report
https://cointelegraph.com/news/digital-currency-group-under-investigation-by-u-s-authorities-report

Hedge funds subpoenaed by U.S. prosecutors as Binance probe unfolds: Report
https://cointelegraph.com/news/hedge-funds-subpoenaed-by-u-s-prosecutors-as-binance-probe-unfolds-report

Further market contagion? Weird part is the market is shrugging it off for now at present as I write this post.

[TwitchySeal]

Funny doesn't mention the Ukraine donations...

You think they should go after everyone that's exchanged crypto at some point on FTX?  Or go after all the FTX users from Ukraine that got a free $25 credit?

Because there isn't much else involving Ukraine and FTX, unless you're pushing a conspiracy theory you can't think is likely true....remember: https://bitcointalk.org/index.php?topic=5382794.msg61411399#msg61411399

[cmg777]

Funny doesn't mention the Ukraine donations...

You think they should go after everyone that's exchanged crypto at some point on FTX?  Or go after all the FTX users from Ukraine that got a free $25 credit?

Because there isn't much else involving Ukraine and FTX, unless you're pushing a conspiracy theory you can't think is likely true....remember: https://bitcointalk.org/index.php?topic=5382794.msg61411399#msg61411399

It doesn't mention the pandemic ones either... Either way the guy stole a lot of money from people and that is all that matters. He did work with the WEF:

The COVID/Crypto Connection: The Grim Saga Of FTX & Sam Bankman-Fried
https://www.zerohedge.com/political/covidcrypto-connection-grim-saga-ftx-sam-bankman-fried

How World Economic Forum, others are hiding their past ties with FTX
https://nypost.com/2022/11/14/how-world-economic-forum-others-are-hiding-past-ties-with-ftx/

[TwitchySeal]

Funny doesn't mention the Ukraine donations...

You think they should go after everyone that's exchanged crypto at some point on FTX?  Or go after all the FTX users from Ukraine that got a free $25 credit?

Because there isn't much else involving Ukraine and FTX, unless you're pushing a conspiracy theory you can't think is likely true....remember: https://bitcointalk.org/index.php?topic=5382794.msg61411399#msg61411399

It doesn't mention the pandemic ones either...

That's because they don't care how many right wing conspiritards read it.

[cmg777]

That's because they don't care how many right wing conspiritards read it.

*insert sarcasm*
Right, because we should always follow the current thing given to us by state-run media. Its so loving and liberal that you censored my quotes in your posts.
*end sarcasm*

[worldofcoins]

I guess I'm eating crow because I'm shocked they didn't arrest him sooner but I'm sure the trial will go on and on like the Elizabeth Holmes of Theranos.

Sam Bankman-Fried Arrested In The Bahamas, Set For 'Prompt' Extradition After US Files Charges

https://www.zerohedge.com/crypto/sam-bankman-fried-arrested-bahamas-set-prompt-extradition

"Just hours after refusing to attend a Senate hearing on his role in the collapse of FTX, Sam Bankman-Fried has been arrested by The Royal Bahamian Police Force, according to a statement from the Attorney General of The Bahamas Sen. Ryan Pinder KC."

What are your thoughts, crypto community?

If the charges against him are proven genuine by the due process of law, and he is found guilty, then he must be punished by the law due to wire fraud, securities fraud, and money laundering. This should be made an example for other entrepreneurs as well.

[TwitchySeal]

That's because they don't care how many right wing conspiritards read it.

*insert sarcasm*
Right, because we should always follow the current thing given to us by state-run media. Its so loving and liberal that you censored my quotes in your posts.
*end sarcasm*

*insert sarcasm*
Right, because we should always follow the current thing given to us by anonymous right wing blogs and conspiracy websites. Its so loving and conservative that you misuse the word censored. Please cry about free speech now.  Tell everyone how you are a victim.
*end sarcasm*

Seriously though. "But the main stream media reported it" is such a lame argument.  How about you use your brain and try to look at all the evidence objectively from both sides.

[cmg777]

*insert sarcasm*
Right, because we should always follow the current thing given to us by anonymous right wing blogs and conspiracy websites. Its so loving and conservative that you misuse the word censored. Please cry about free speech now.  Tell everyone how you are a victim.
*end sarcasm*

LOL and I thought sarcasm was racist to you Libz. Don't you virtue signal or something else these days or whatever the current thing is?

Seriously though. "But the main stream media reported it" is such a lame argument.  How about you use your brain and try to look at all the evidence objectively from both sides.

Actually in a way I agree with you on your statement. Its not that the "Mainstream media reported it" but rather certain narratives are parroted while other ones that might be counter-narrative to everything are brushed under the rug. There are at least two sides to every story and in some cases many sides and many actors involved. I do use my brain and refuse to believe that everything is one sided as you seem to perceivably do as everything is black or white to you due to our narrative driven corporate media. At the same time, I almost wonder if you work for the mainstream media or desire to do so?

Crypto community unimpressed by SBF’s lengthy Substack letter
https://cointelegraph.com/news/crypto-community-unimpressed-by-sbf-s-lengthy-substack-letter

He is just plain cocky and thinks he'll get away with this. He probably will and might even fake his own death. Then we'll see him in some social media post and it will be knocked as conspiracy theory and then if you remember me posting it I called it lol.

[Gyfts]

https://apnews.com/article/sam-bankman-fried-ftx-cryptocurrency-sentencing-sbf-d7bb1a5e94b4c22039d74dfeab1a2ff1

SBF gets 25 years in prison.

Lucky he didn't get closer to the maximum, which was 100+ years. Probably would have if he weren't so well connected.

[nutildah]

https://apnews.com/article/sam-bankman-fried-ftx-cryptocurrency-sentencing-sbf-d7bb1a5e94b4c22039d74dfeab1a2ff1

SBF gets 25 years in prison.

Lucky he didn't get closer to the maximum, which was 100+ years. Probably would have if he weren't so well connected.

I suppose that's fair enough... The bulk of the rest of his adulthood. He might get out early for good behavior or for this or that reason, but if he gets out before Ross Ulbricht I'll be pretty pissed about that.

So many politicians that took money from him embarrassed themselves so hard, but its already all being swept under the rug by a lobbyist-sized broom.

[worldofcoins]

So many politicians that took money from him embarrassed themselves so hard, but its already all being swept under the rug by a lobbyist-sized broom.

Also the traders who had their money in his Exchange and SBF was like "Your money is safe"

Btw, did SBF's gf also had a trip to jail?

[TwitchySeal]

Btw, did SBF's gf also had a trip to jail?

Not yet.  Because she cooperated as part of he plea deal they were waiting to schedule her sentencing until after SBFs.  So they should be setting that date soon.

Experts are guessing that her and the other FTX executives that worked with prosecutors to convict SBF will get between 0 and 1 or 2 years in prison along with probation and hefty fines.

[worldofcoins]

1. FTX said we’re not done yet and have dumped $7.65 billion in Solana tokens.

2. Sam Bankman-Fried has been sentenced to 25 years in prison on 7 counts of fraud and conspiracy after the collapse of FTX.
SBF won’t be placed in a maximum-security prison, instead, he’ll be in a medium-security prison close to home in California.

3. The time he’s already spent in prison will likely be shaved off his remaining jail time. So that’s already 7.5 months less. Then, he could see another 45 months shaved off for good behavior.

Of course, there are more boxes he can tick. So it’s already being predicted that he could get out of prison after serving just 18 out of the 25 years.

Read the whole article here: https://thewealthmastery.io/test-7-65b-sol-dumped


According to the article, FTX sold the SOL token to institutional investors at 60$/token, which is around 68% less than the current market price.