Sam Bankman-Fried said he was down to his last 100k, but now he's a free man after posting $250 million bail

Wow, just wow.

No.

I'm a crypto guy. To say made up, is like saying software's made up because you can't hold it. Not saying FTX wasn't a scam- obviously was.

Re: going up, up, up: Many crypto ppl thought crypto would just keep rising. But I wouldn't have expected this thought from him. Pretty shocking.

If you take profits, like I did, & buy solid coins, you can make huge 10X to 200X gains (no typo) that stocks don't. But you have to take profits. Crypto, like always, will run again.

As he defrauded investors and lied, we should not believe his statements as they are wrong.

Rojo I have actually enjoyed parts of a few post race podcasts that you guys did, BUT are you at all concerned that the feds may determine years from now that the Supporter’s Club members may have a class action lawsuit against you guys for fraud?😀

The others that already plead guilty are going to rat him out hard.

As wow as Elizabeth Holmes as the emails as I nearly fell off my chair as the libs as what is crypto as Hunter Biden.

Before having a kid, he should get a job with Public Schools. He would get maternity leave.

Here is some clarification. Parents got friends of theirs to pony up cash and properties. All of that is evaluated by the judge and worked out before our Hero left Bahamas. The parents' own house is collateral. He will not go anywhere. He will get away. Worse, Ellison will probably just get probation. I do not have a clue why they needed her cooperation. Then you will look back at Holmes and say that was unfair. In the end, you will get some Get-tough-on-crime politician or DA to take out his vengeance on the poor who cannot afford legal representation then claim high conviction rate.

The guy is a crypto hustler and I expect him to jump bail to Israel and cry about antisemitism.

I think the most embarrassing thing is his parents. They were taking multimillion $$ houses and are now helping the kid. If it was my kid, I'd still love him but tell him, "Dude, you F'd up. Face the music."

The good news is this may prevent him from ever procreating.

Sam's dad been talking about this for 10 years. Knew exactly what they were doing

Also, he's really ugly.

He’s 30.

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…

do they have to prove they're actually capable of paying?

Where's the chicanery? He has the largest pre-trial bond in American history. He's not charged with a violent crime, and he's subject to electronic monitoring and must live in his parents' home. The bail is secured by his parents' entire net worth and the "substantial assets" of two others. The only thing possibly unreasonable there is the unheard of sum of $250 million for bail.

You can see what the United States of America is charging him with here:

https://www.justice.gov/usao-sdny/press-release/file/1557571/download

Eight (8) counts, including wire fraud, securities fraud, and money laundering. The SEC filed a Complaint against him too. Sometime in late 2023/early 2024, he is going to plead guilty to 2 or 3 counts and go to federal prison for 15-20 years.

That's one of the strong indications, the asset/investment is some sort of Ponzi scheme.

Few assets legitimately return those sort of profits. Especially when general public hear about, and start making the same returns.