28 march 2024 : final verdict for SBF. Did you lose funds ?

[Becassine]

Hello,


As you may know, March 24 is the final verdict for SBF. He faces 115 years in prison, and the evidence against him is overwhelming. He has pleaded not guilty.
His lawyers are asking for a lighter sentence, arguing that SBF won't survive in prison, he'd be more or less autistic and unable to defend himself.
In his book 'Going Infinite: The Rise and Fall of a New Tycoon, published in October 2023 in the USA to coincide with the start of the trial), Michael Lewis claims that the funds did not really disappear and SBF is innocent.

Have you lost funds on FTX and do you intend to recover them?

[1714556020]

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[1714556020]

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[Apocollapse]

I can't vote the poll because I know FTX and never use the exchange lol.

Every victims will try to recover their assets, but most people won't be really serious because they know they're not live in Bahamas, so they won't fly to Bahamas and make a protest against SBF. But if they have a chance to recover their assets via online, they will do it.

It's like an excuse to say the funds didn't disappear, while SBF regardless he's innocent or not, he's the owner, so he need to takes all the risk.

[hugeblack]

This topic^[1] contains lengthy discussions regarding FTX, and it would be better to have them all in one place to make it easy to follow.
Anyone who loses money on any exchange will inevitably try to claim his money, especially if it is in the form of cryptocurrencies that have increased in value over the past 4 years, such as Bitcoin, but due to the slowness of judicial procedures, it is rare for people to obtain compensation within two to five years, so I do not expect anyone to receive money soon.


[1] [Updated] FTX

[criptoevangelista]

At the time of stealing and cheating the entire system, his supposed autism didn't influence anything, but now that he's in prison does this become important?

He is unable to defend himself, but had the ability to lie and steal?

Won't he survive in jail? so how is he alive until now?

His lawyers are pathetic.

[Becassine]

This topic^[1] contains lengthy discussions regarding FTX, and it would be better to have them all in one place to make it easy to follow.
Anyone who loses money on any exchange will inevitably try to claim his money, especially if it is in the form of cryptocurrencies that have increased in value over the past 4 years, such as Bitcoin, but due to the slowness of judicial procedures, it is rare for people to obtain compensation within two to five years, so I do not expect anyone to receive money soon.


[1] [Updated] FTX

Thank you, I tried to find it unsuccessfully

[lovesmayfamilis]

It doesn't take a visionary to say that SBF will not survive in prison with such a sentence. Isn't it obvious, or does he have options? But I think that the book exaggerates SBF's personality too much by saying that he always wanted to benefit people, while he did the opposite, and the benefit he received is only his benefit and profit. Whether he is autistic or not does not matter, many autistic people cope well with their situation, and by the way, it is autistic people love solitude, and in prison, no one can stop them from enjoying communication with themselves.

[Orpichukwu]

It doesn't take a visionary to say that SBF will not survive in prison with such a sentence. Isn't it obvious, or does he have options?

Survive, you said? Isn't it obvious that this is a death sentence? This could just be because many countries are against death sentences, so pronouncing and sentencing someone for life won't make any sense in the ears of many, so they gave a 115-year sentence, which he will probably not be alive to finish. Adding to the fact that he should be around 30-35 years old before this, imagine how many years he will be by that time. It's obvious he is going there to spend the remaining time of his life.

[m2017]

As you may know, March 24 is the final verdict for SBF. He faces 115 years in prison, and the evidence against him is overwhelming. He has pleaded not guilty.

If the evidence is irrefutable, then what does SBF’s pleading guilty matter? In any case, we should wait for the verdict to know for sure how all this will end.

His lawyers are asking for a lighter sentence, arguing that SBF won't survive in prison, he'd be more or less autistic and unable to defend himself.

This sounds like a very interesting way to justify himself and avoid punishment.

In his book 'Going Infinite: The Rise and Fall of a New Tycoon, published in October 2023 in the USA to coincide with the start of the trial), Michael Lewis claims that the funds did not really disappear and SBF is innocent.

And this sounds even more interesting. So, "Where's the Money, Lebowski Michael Lewis?"

SBF’s guilt will be determined by the decision of the court, not the writer.

Have you lost funds on FTX and do you intend to recover them?

Fortunately, I am not one of them, because the good old rule “Not your keys- Not your coins” has been familiar to me for a long time.

[OgNasty]

FTX came out of nowhere under the guise that their CEO was such a brilliant trader that he made billions trading Bitcoin and started the world’s biggest exchange seemingly overnight. It didn’t pass the sniff test from day 1 and that’s why I never had an account. Pretty much any entity willing to pay you an interest rate on Bitcoin to store your funds is a scam. Nobody can promise interest on Bitcoin because it is a limited resource. As the saying goes, if you don’t know where the yield comes from, you are the yield.

[adaseb]

I can't vote the poll because I know FTX and never use the exchange lol.

Every victims will try to recover their assets, but most people won't be really serious because they know they're not live in Bahamas, so they won't fly to Bahamas and make a protest against SBF. But if they have a chance to recover their assets via online, they will do it.

It's like an excuse to say the funds didn't disappear, while SBF regardless he's innocent or not, he's the owner, so he need to takes all the risk.

SBF is not in the Bahamas anymore. He was arrested there and went to prison and then after a few days he said he wanted to be tried in the US instead. Most likely the prison conditions were horrible and hence why he wanted to go back to the states.

All claims will be paid out in full. The market rose so much that they are solvent. Everybody will be made hole. However if you had non stablecoin assets like BTC or SOL you will be paid at the Nov 22 prices which is like $16K instead of $68K. It’s locked in fiat and hence why many are upset.

[pinggoki]

FTX came out of nowhere under the guise that their CEO was such a brilliant trader that he made billions trading Bitcoin and started the world’s biggest exchange seemingly overnight. It didn’t pass the sniff test from day 1 and that’s why I never had an account. Pretty much any entity willing to pay you an interest rate on Bitcoin to store your funds is a scam. Nobody can promise interest on Bitcoin because it is a limited resource. As the saying goes, if you don’t know where the yield comes from, you are the yield.

If you wanted to really lie and deceive people in the first place, you'd already got the plan to steal the money of many people and of course it would be a part of your plan to lie to them and make them think that you're a legitimate one and that you're not going to run with their money, that's how many charlatans and thieves of the largest scale would do it though, they make you let your guard down by building trust and then in one fell swoop, your money's gone. People should've made some questions already when the talks of bitcoin giving out interests are being talked about, that would've made them uncomfortable and most likely some of those people would likely pick up on it when it was raised as a question but it seems that nobody did and they end up with their money being stolen, I guess the allure of profits from your bitcoin is just too strong that people didn't question the red flags.

[glendall]

No, I never lost my funds at FTX because I only used FTX to buy ETH before ,  and luckily before the incident I hadn't made transactions there for quite a long time,
For friends who still have funds that are not free there, stay patient, everything will come back if it is part of your results.

[MusaMohamed]

FTX is a terrible case that causes losses of many people money and if victims receive their compensation, they will receive cryptocurrencies with price in November 2022.

It is a bottom of bear market and what you receive with that past rates will like a massive loss compares to current prices in a bull market. It is better if you have compensation but even so, it will still be a loss for you. You will not receive full amount of your capital stored on FTX exchange before the collapse.

Don't store your coins on centralized exchanges to avoid similar collapses like FTX. Many exchanges are dead.
Reminder: do not keep your money in online accounts
Exchange graveyard

[Antotena]

Hello,
As you may know, March 24 is the final verdict for SBF. He faces 115 years in prison, and the evidence against him is overwhelming. He has pleaded not guilty.
His lawyers are asking for a lighter sentence, arguing that SBF won't survive in prison, he'd be more or less autistic and unable to defend himself.
In his book 'Going Infinite: The Rise and Fall of a New Tycoon, published in October 2023 in the USA to coincide with the start of the trial), Michael Lewis claims that the funds did not really disappear and SBF is innocent.

Have you lost funds on FTX and do you intend to recover them?

The exchange is not that patronized here like the Binance, Kucoin, Counbase and others, so I don't think plenty of people from my side were that affected but even though we don't have account or use the exchange, his stupid action affected us all, he is yet reason why Bitcoin tank to $15k, he is the reason why Solana was troll for a whole year, he is the reason why Solana liquidity were drained because everyone left the chain disappointed, Sam will crumble for making people lose source of livelihood.

I wish that 115 years can be extended more and they should not make it lighter for him so that other people that are fond of doing the same thing in the crypto space and has been hiding will leave here or stop forever so that crypto space will be safe for everyone to invest there money without any fear of been manipulated.

[GreatArkansas]

Yes, and I lost a lot.
I will admit that I lost a lot. That was the first time to lose in a centralized exchange. Before I was using Cryptopia but before they went bankrupt I already moved out my funds, so I am very lucky.
I am still hoping for the refunds on FTX, I hope it will be refunded to all of us who are affected, it's huge.

[Dunamisx]

AM not part of the loss with FTX, many have been affected already that uses this exchange and i don't know if this bull season would have been the only option they had to make recovery in case of those that are still into bitcoin without  giving up ever since their last experience with the exchange, it takes courage and determination to be in lost and still go ahead in making investments in cryptocurrency, i don't know maybe all these victims are the ones that never know the difference between CEX and DEX or they just decided in taking the risk.

[Fivestar4everMVP]

There is no option for "I neither lost fund on FTX, nor withdrew before the crash" in the poll..
For if there was an option like that in the poll, then that is the category I fall in, I will count myself lucky for I actually have an FTX account, but I've never for once been moved to deposit funds there and buy, I've used several other exchanges, even far lesser ones, but for some reason, never used FTX, maybe if I did, I would have been one of those who would lose money there, the same way I lost on Bkex.

Concerning the final verdict, I would say that let them throw him in jail and let me rot there, the lawyers pleading for a lighter judgment for SBF, did SBF consider the consequences of what he did to investors funds before he did it, people lost their entire live saving on that exchanges, so many people commited suicide because of what SBF did, such a person as SBF deserves to die by hanging, because he is not just a criminal, but a murderer.

By the way, I feel this thread should be in the reputation board.

[moneystery]

i have never used this ftx exchange, but i have heard news about this ftx several times. and i think that sbf as the ceo of ftx is the most shameless person in the crypto world, because up to now he has stated that he is innocent and does not want to admit his mistakes. in fact, he seems to be hiding under the armpit of his parents who are lawyers to protect him from the accusations that attack him. he should be embarrassed that he is that old, but he acts like a child and runs away from his responsibilities.

[Iranus]

I can't vote the poll because I know FTX and never use the exchange lol.

Every victims will try to recover their assets, but most people won't be really serious because they know they're not live in Bahamas, so they won't fly to Bahamas and make a protest against SBF. But if they have a chance to recover their assets via online, they will do it.

It's like an excuse to say the funds didn't disappear, while SBF regardless he's innocent or not, he's the owner, so he need to takes all the risk.

SBF is not in the Bahamas anymore. He was arrested there and went to prison and then after a few days he said he wanted to be tried in the US instead. Most likely the prison conditions were horrible and hence why he wanted to go back to the states.

All claims will be paid out in full. The market rose so much that they are solvent. Everybody will be made hole. However if you had non stablecoin assets like BTC or SOL you will be paid at the Nov 22 prices which is like $16K instead of $68K. It’s locked in fiat and hence why many are upset.

I've also heard this news, the compensation is really unfair for the victims but think positively, it's better for them to compensate a little than for everyone to lose everything. At least FTX did many times better than Mt.Gox, who only made promises and more than 10 years have passed but their victims are still waiting.

I cannot deny that I am also using centralized exchanges but luckily I have never used FTX. But even if I used it, I wouldn't store too many of my assets on it. Centralized exchanges are not places to store crypto assets, they are just places to trade, and buy & sell when we need them.

[Becassine]

Even so, I think it's quite impossible for SBF to have acted alone or only with his few accomplices (Gary, Caroline ...). There are also bankers involved, of course. I wonder whether the political parties that received money from SBF will return it. I don't have this information, but the charge of illegal financing of political parties has not been retained.