So Libertarian young male rebel not trusting banks and govt put govt money into it in 2021 in exchange for clown money and is left with clown money no one wants anymore. Now same libertarian young male rebel want regulatory authorities they were previously against to punish the very thing they were for before the fake number stopped going up
The thing I don't get about FTX at all is what was the end game for these people? Did they really think the price of their made up token would just keep going up and up and up and they'd never be exposed? It was bound to be exposed.
If I was him, I would never have done what he did but once i did I would have tried to flee. Again, what was his end-game? Does he really think he won't get convicted?
Now that he can't really flee, I'd plead guilty.
But I guess the longer a trial goes on, the longer he getes to enjoy freedom in his 20s. Maybe he should have a kid like Elizabeth Holmes. Somehow she only got 11 years when Madoff got 150+.
He is another lib just like you. Are you turning on you own. A lot of his money went to dem candidates.
He is another lib just like you. Are you turning on you own. A lot of his money went to dem candidates.
Which is funny because most dems and (mostly boomer) republicans I know knew it was a scam and didn’t buy it.
& My understanding is both sides (dem & republicans) received donations.
Here’s the crypto victim:
The libertarian anti govt “you [licensed finance expert with decades of experience] don’t understand it, don’t understand the tech and we’re still early” “look at Jerome Powell’s money printing” telling respected economists, computer scientists and financial experts to have fun staying poor (“HFSP!”) because “look at my returns!,” millennial gen z male “get rich quick for no work” lit the stimulus money on fire so crypto leaders could produce nothing but a delusion and blow the incoming fiat feeding the ponzi on vacation trips in Ibiza, $500 alcohol bottles, lambos, Miami nightclubs, yachts, strippers, private planes, Louis Vuitton jackets, Rolex watches and vacations. since crypto is really in the entertainment business and not regulated security , SBF et al Is scapegoat but they can all just argue that "investors"(i.e. scam victims) who put their money in got all the value out of it from the dopamine rush from gambling during 2021 even though it all went poof to $0.00 usd at the end? Some just paid more for dopamine rush than others.
Guy says he was obsessed with making everyone whole but flew business class back home. What percent of people have every flown business class, let alone after being accused of crims worht hundreds of years in jail?
One of my followers spotted SBF chilling at JFK airport last night and snapped some icon photos pic.twitter.com/0Lg6OdqZz8
PS. There was another good thread on this where I loved the following post...
SBF is in the gambling entertainment casino business. Basically you give him (or any exchange leader in crypto) real money in exchange for fake money/crypto poker chips (stablecoins), and he and all the leaders in crypto take the real money and spend it on real tangible things of value (eg real estate), waste it on luxury goods and experiences (eg yacht with strippers, Miami nightclubs). SBF provided Carmine, Yep, and other crypto owners an entertainment service in exchange for a voluntary donation (i.e. an “initial investment”) and they and others went along for the entertainment ride so that SBF, his girlfriend and his buddies could take the money and blow it on fun things for themselves. (These participants chose to do this despite all the warnings from IRS, SEC, and US government that the crypto industry is full of fraudsters and offers no investor protections). Thanks for playing and good luck to the remaining participants at the table in this massive massive scam
All cryptocurrencies outstanding have an alleged notional value of about $850 billion, if there's 15% real dollars floating attached to those tokens then that's maybe $127b.
Or basically the market cap of a small consumer cyclical company. Crypto just doesn't matter to markets.
Guy says he was obsessed with making everyone whole but flew business class back home. What percent of people have every flown business class, let alone after being accused of crims worht hundreds of years in jail?
All airlines have loyalty clubs that make it pretty easy for frequent business flyers to get free upgrades to business or first class nearly every time they fly. This guy appears to have been traveling a lot over the years - Bahamas, NYC, Hong Kong, Silicon Valley. Him being in business class does not surprise me at all, and I'm sure he got upgraded for free, or used his points to pay the whole trip. (Which is going to be one of the last trips he takes in the next 15 years).
The thing I don't get about FTX at all is what was the end game for these people? Did they really think the price of their made up token would just keep going up and up and up and they'd never be exposed? It was bound to be exposed.
If I was him, I would never have done what he did but once i did I would have tried to flee. Again, what was his end-game? Does he really think he won't get convicted?
Now that he can't really flee, I'd plead guilty.
But I guess the longer a trial goes on, the longer he getes to enjoy freedom in his 20s. Maybe he should have a kid like Elizabeth Holmes. Somehow she only got 11 years when Madoff got 150+.
It’s a public recognizance bail—meaning he does not need to front the $250M to get out. Whoever signed for it (likely his parents) is on the hook for $250M if he flees. There is some serious chicanery going on here.
It will be interesting to see the charges once he is heard in court. Imagine how deeply this case’s tentacles go…dark money everywhere & compromised members of the justice system…
Exactly. The 250mil bond is just for show. He was let out on his own recognizance. No one will ever fork over 250mil if he flees. What a sham.
It’s a public recognizance bail—meaning he does not need to front the $250M to get out. Whoever signed for it (likely his parents) is on the hook for $250M if he flees. There is some serious chicanery going on here.
It will be interesting to see the charges once he is heard in court. Imagine how deeply this case’s tentacles go…dark money everywhere & compromised members of the justice system…
Exactly. The 250mil bond is just for show. He was let out on his own recognizance. No one will ever fork over 250mil if he flees. What a sham.
Yep.
They put out the $250 million number all over the media.
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