4 ms·

I can't help but wonder if the NYTimes article was intentionally designed to be 99% puff piece disguising the 1% of extremely damning information, just to get t

I can't help but wonder if the NYTimes article was intentionally designed to be 99% puff piece disguising the 1% of extremely damning information, just to get them direct access to the FTX team so they could get something juicy. Journalists can be sneaky like that sometimes. The 1% of damning info was Caroline's reported admission that Alameda borrowed short-term to make long-term illiquid VC investments, and when those loans got called and Alameda couldn't pay, FTX commingled its customer funds with Alameda to pay them. That was a new bit of info, that NYTimes just casually snuck into the middle of the puff piece without further commentary, but it's quite damning and kinda insane. While all the rubes are complaining about the article being too gentle, the financial crimes prosecutors are adding it to their case files. https://twitter.com/WClementeIII/status/1592289824542949376 https://twitter.com/WClementeIII/status/1592289824542949376

MrMan 4y ago
that is by itself jail worthy
- SkyMarshal 4y ago
  exactly.
- notch656a 4y ago
  It's hilarious that SBF is tweeting without the slightest apparent concern of jail nor the fact that he stole $B of deposits by international customers, many of which may have connections to organized crime. The closest comparable person I can think of was Madoff, and he had the leverage that at least most of his customer's money wasn't actually destroyed so his cooperation worth a lot. I honestly don't know that SBF has anything to bargain to the legal system or his angry, often crime involved, customers as it appears he destroyed basically all of their money. I'm not saying he should be terrified, but personally I would feel very terrified I were in that position. I think his best outcome at this point is some form of plea that incudes witness protection program in exchange for un-"hacking" the remaining $600M.
  - lazide 4y ago
    Well, being able to pull off this kind of massive fraud pretty much requires steely eyed indifference to your own mortality and/or consequences anyway. Most mortals start sweating bullets if they steal a candybar, or at most a car.

MrMan 4y ago

that is by itself jail worthy

SkyMarshal 4y ago
exactly.
notch656a 4y ago
It's hilarious that SBF is tweeting without the slightest apparent concern of jail nor the fact that he stole $B of deposits by international customers, many of which may have connections to organized crime. The closest comparable person I can think of was Madoff, and he had the leverage that at least most of his customer's money wasn't actually destroyed so his cooperation worth a lot. I honestly don't know that SBF has anything to bargain to the legal system or his angry, often crime involved, customers as it appears he destroyed basically all of their money. I'm not saying he should be terrified, but personally I would feel very terrified I were in that position. I think his best outcome at this point is some form of plea that incudes witness protection program in exchange for un-"hacking" the remaining $600M.
- lazide 4y ago
  Well, being able to pull off this kind of massive fraud pretty much requires steely eyed indifference to your own mortality and/or consequences anyway. Most mortals start sweating bullets if they steal a candybar, or at most a car.