He was Bankman, now he's Fried

Don't steal from the rich

I would simply have not given real money to some company in the Bahamas in exchange for a token and a promise the token would be good for more money later. But I’m street smart like that.

This was basically a forgone conclusion, but it ought to teach a lesson, "not your keys, not your coins". an exchange is like a public toilet you get in, do your business, and get the fuck out you don't stay in a public toilet.

He is set to be sentenced by Judge Lewis Kaplan on March 28th of next year and faces decades in prison.

What a tease. Hurry up!

"Originally placed under house arrest, he was sent to jail in August for violations of his bail conditions, including using a VPN to watch a football game and leaking the diary entries of his ex-girlfriend"

Ok I get the diary, that's shitty...but using a VPN to watch football? That's a normal Saturday afternoon.

Can we do some more CEOs and bankers, now? Start a trend. Keep the ball rolling. Puhleeeze.

So, will all the conservative chuds who were convinced he was going to walk because he donates to the Democrats do any kind of follow-up on that theory?

Try to incite an insurrection and steal an election: you'll walk away with no consequences.

Steal money from the rich: you will burn.

Not your keys, not your coins

He should have committed to the personality.

He should have been playing League of Legends, bronze tier, on a laptop during the trial, while wearing cargo shorts and sipping whatever his silly energy drink was.

That is what happens when you steal from the rich.

Finally some actual good news for a change, let me break out the bubbles! 🍾🥂

It really is a mind fuck that I could walk out into the middle of the street in broad daylight in full view of 100 people, shoot someone in the head at point blank range, killing them and still end up with less time than this guy will most likely get so long as the person I murdered wasn't well to do financially.

Sam Bad-Bankman Fraud

I can't be the only one always making this 'Sam Bankman-Fraud' in my head when reading his name.

So, so guilty.

...to the surprise of absolutely no one.

No shit

This is the best summary I could come up with:

A New York jury delivered the verdict on November 2nd, concluding a trial that has seen Bankman-Fried defend himself against claims that he criminally mismanaged his crypto exchange FTX and trading firm Alameda Research.

But prosecutors charged that the operation was a fraud “from the start.” While he promoted the exchange to investors and the public as safe and secure, Bankman-Fried’s former colleagues testified that it falsified numbers and granted secret, special privileges to Alameda — including a $65 billion line of credit and a flag that let Alameda’s balance dip into the negative as it illicitly borrowed FTX customer funds.

The FTX empire collapsed after a November 2022 Coindesk article — published precisely one year before the jury’s decision — revealed the secret blurring of funds and Binance CEO Changpeng “CZ” Zhao announced he would pull out of the exchange.

Originally placed under house arrest, he was sent to jail in August for violations of his bail conditions, including using a VPN to watch a football game and leaking the diary entries of his ex-girlfriend — former Alameda Research CEO Caroline Ellison, who pleaded guilty to federal charges and testified against him in trial — to The New York Times.

He denied directly supervising the damning code updates that allowed Alameda to spend FTX funds and said he had not participated in trading or questioned employees about billions of missing dollars.

His testimony was contradicted by Ellison, his former roommates Adam Yedidia and Gary Wang (the cofounder of FTX), and family friend Nishad Singh; all had worked under Bankman-Fried and later cooperated with prosecutors.

The original article contains 451 words, the summary contains 261 words. Saved 42%. I'm a bot and I'm open source!