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He's still posting on Twitter as though this is going to blow over. I don't get it. Is there a chance nothing is going to happen? What kind of advice is he gett

by memish 4y ago

He's still posting on Twitter as though this is going to blow over. I don't get it. Is there a chance nothing is going to happen? What kind of advice is he getting? "I’m meeting in-person with regulators and working with the teams to do what we can for customers." https://twitter.com/SBF_FTX/status/1592604699693580289 https://twitter.com/SBF_FTX/status/1592604699693580289 "So what can I try to do? Raise liquidity, make customers whole, and restart." https://twitter.com/SBF_FTX/status/1592710177152995328 https://twitter.com/SBF_FTX/status/1592710177152995328

marshmallowmad 4y ago
He seems to be deep into denial. I can’t imagine what’s going on in his mind right now.
- frozenport 4y ago
  "these drugs made me dumb"
  - braingenious 4y ago
    I’d probably just up my dosage if I were in his position. This looks like a terrible moment to sober up.
    - marshmallowmad 4y ago
      It appears that he may have upped his dosage. And him acting like he can recover is from the drugs. To act like this after clearly committing crimes visible by tens of millions of people, and just getting torn apart for it online. I wish I was this confident!
      - braingenious 4y ago
        > I wish I was this confident! I’m over a decade sober, but fyi this is available to you if you just buy some meth or bath salts!
- gscott 4y ago
  I would move to Sealand asap.
  - _8j50 4y ago
    You will get invaded. Ecuador,Iran, Venezuella(maybe not so much there) or Russia are better.
- nemo44x 4y ago
  That’s all I can conjure too. Or he’s calling in his political donations, etc.
- DonHopkins 4y ago
  He thinks he can just Trump right through it.
- arkis22 4y ago
  I think that based on his enthusiasm to invest in Elon's takeover of Twitter he thought he was a big dog. He thinks he's a celebrity billionaire. He's still calling people to invest in his companies, which is like lighting money on fire because it's all going to be withdrawn immediately. He is clueless.
  - marshmallowmad 4y ago
    I would pay to hear some of these conversations of him asking for more money right now. I wonder if people just start laughing or try to tell him the truth.
  - hunterb123 4y ago
    > based on his enthusiasm to invest in Elon's takeover of Twitter Could you explain what you meant by this?
    - imron 4y ago
      Likely this: https://twitter.com/elonmusk/status/1591224814597189633 https://twitter.com/elonmusk/status/1591224814597189633
  - spyder 4y ago
    Well there is people who would still invest in him with the condition of tighter control / regulation despite already losing money in this shitshow :-D. But it's probably just a crazy coping mechanism for being involved: https://cryptopotato.com/despite-ftx-bankruptcy-kevin-oleary-would-still-invest-in-sbf/ https://cryptopotato.com/despite-ftx-bankruptcy-kevin-oleary...
- tuesdayrain 4y ago
  >I can’t imagine what’s going on in his mind right now. Massive amounts of Selegiline, probably.
nwiswell 4y ago
If you just went from "famous decabillionaire" to "probable felon" in the span of a week, you'd probably be in cope mode too
ALittleLight 4y ago
I don't understand how he could hope to raise money if his idea is "We return it to the people I stole from." I have no doubt that, like Adam Neumann, there is some circumstance where VCs would give him another turn, but it would be because those VCs thought they could make money, not because they want to donate their money to make SBF's victims whole.
blockwriter 4y ago
If any of the reports about Bankman-Fried's drug use are true, that might help explain his behavior.
fourstar 4y ago
“Meeting with regulators” aka meeting with his tribe which I’m sure Gensler is a part of.
- goouytrd 4y ago
  “His tribe” Is this supposed to be implying something specific?
  - deleted 4y ago
    [deleted]
- deleted 4y ago
  [deleted]
hn_throwaway_99 4y ago
2 points: 1. His tweet thread made me throw up in my mouth a bit. Blaming it on "liquidity" is laughable. Liquidity problems would be like "I own a lot of real estate and it would take me a long time to sell". Alameda's problem was a huge chunk of its balance sheet was FTT - it was fundamentally impossible to ever liquidate those tokens without guaranteeing to tank the price of FTT. Never mind the whole issue that customer funds were never legally his to loan to Alameda in the first place, regardless of crypto regulations or lack thereof. What happened to customer funds was simply theft. 2. I'm not a psychologist, so I don't necessarily want to misuse the term "sociopath", but I have seen this trait in some people that is closely linked to a lack of conscience. That is, I would have never been able to do what SBF and gang did by stealing customer funds to prop up Alameda. And it's not because I'm some wonderfully moral person, it's because I would have become physically ill with guilt and lack of sleep. This is also why I'll never be able to run a large company or handle billions of assets - it would just be too much stress for me. There is a fine line between needing to have a healthy detachment from consequences you may cause, and being a sociopath. The more I hear from SBF just the more I'm convinced he's not on the "healthy detachment" side of things.
pigtailgirl 4y ago
-- his NYT article was... O.o "“People can say all the mean things they want about me online,” he said. “In the end, what’s going to matter to me is what I’ve done and what I can do.” He has also found other ways to occupy his time in recent days, playing the video game Storybook Brawl, though less than he usually does, he said. “It helps me unwind a bit,” he said. “It clears my mind.” Shortly before the interview, Mr. Bankman-Fried had posted a cryptic tweet: the word “What.” Then he had tweeted the letter H. Asked to explain, Mr. Bankman-Fried said he planned to post the letter A and then the letter P. “It’s going to be more than one word,” he said. “I’m making it up as I go.” So he was planning a series of cryptic tweets? “Something like that.” But why? “I don’t know,” he said. “I’m improvising. I think it’s time.”" ..uh.. huh --
- memish 4y ago
  It's funny they unwittingly plugged FTX's game and didn't mention that he's been seen playing League of Legends.
  - zoklet-enjoyer 4y ago
    He spent 4 hours playing LoL on Saturday
colechristensen 4y ago
His best chance of getting the least punishment is cooperating to the max.
- diogenescynic 4y ago
  Or being the second biggest political donor to the political party in power at the moment. Surely that doesn't hurt...
benjaminwootton 4y ago
Im not defending him, but you can imagine a situation where a lot of conversations are happening in the background whilst wild speculation takes off online. From the balance sheets circulating, there are still a lot of assets there. Some of it is fantasy but some of it is real but various levels of liquidity. Im sure FTX, Sam and everyone associated is looking at how they can turn an $8 billion hole into a $3 billion hole. I don’t think he or FTX are coming back because the reputation is destroyed, but I don’t see this ending in an $8 billion total loss. I am tempted to put my money where my mouth is and buy some FTT for a somewhat positive announcement soon, but maybe that’s just degenerate gambling!
throwawaylinux 4y ago
He paid fealty to the regime and tens of millions of dollars of bribes and protection money to the ruling class. Provided he told all the right people to get out while the getting was good, he's got good reason to be confident. I bet he knows about a lot of skeletons in closets too, although people tend to wind up not killing themselves in prison when they try to use that kind of leverage against the mob, so he'd be well advised to take his flailing about the wrists with a sauteed lettuce leaf if it came to that.
xiphias2 4y ago
I'm so frustrated right now that he's still not arrested while in the sister thread a bicyclist was arrested for touching a car that was hiding its license plate. The government is doing the opposite that it should be doing.

by memish 4y ago

marshmallowmad 4y ago

He seems to be deep into denial. I can’t imagine what’s going on in his mind right now.

frozenport 4y ago
"these drugs made me dumb"
- braingenious 4y ago
  I’d probably just up my dosage if I were in his position. This looks like a terrible moment to sober up.
  - marshmallowmad 4y ago
    It appears that he may have upped his dosage. And him acting like he can recover is from the drugs. To act like this after clearly committing crimes visible by tens of millions of people, and just getting torn apart for it online. I wish I was this confident!
    - braingenious 4y ago
      > I wish I was this confident! I’m over a decade sober, but fyi this is available to you if you just buy some meth or bath salts!
gscott 4y ago
I would move to Sealand asap.
- _8j50 4y ago
  You will get invaded. Ecuador,Iran, Venezuella(maybe not so much there) or Russia are better.
nemo44x 4y ago
That’s all I can conjure too. Or he’s calling in his political donations, etc.
DonHopkins 4y ago
He thinks he can just Trump right through it.
arkis22 4y ago
I think that based on his enthusiasm to invest in Elon's takeover of Twitter he thought he was a big dog. He thinks he's a celebrity billionaire. He's still calling people to invest in his companies, which is like lighting money on fire because it's all going to be withdrawn immediately. He is clueless.
- marshmallowmad 4y ago
  I would pay to hear some of these conversations of him asking for more money right now. I wonder if people just start laughing or try to tell him the truth.
- hunterb123 4y ago
  > based on his enthusiasm to invest in Elon's takeover of Twitter Could you explain what you meant by this?
  - imron 4y ago
    Likely this: https://twitter.com/elonmusk/status/1591224814597189633 https://twitter.com/elonmusk/status/1591224814597189633
- spyder 4y ago
  Well there is people who would still invest in him with the condition of tighter control / regulation despite already losing money in this shitshow :-D. But it's probably just a crazy coping mechanism for being involved: https://cryptopotato.com/despite-ftx-bankruptcy-kevin-oleary-would-still-invest-in-sbf/ https://cryptopotato.com/despite-ftx-bankruptcy-kevin-oleary...
tuesdayrain 4y ago
>I can’t imagine what’s going on in his mind right now. Massive amounts of Selegiline, probably.

nwiswell 4y ago

If you just went from "famous decabillionaire" to "probable felon" in the span of a week, you'd probably be in cope mode too

ALittleLight 4y ago

I don't understand how he could hope to raise money if his idea is "We return it to the people I stole from." I have no doubt that, like Adam Neumann, there is some circumstance where VCs would give him another turn, but it would be because those VCs thought they could make money, not because they want to donate their money to make SBF's victims whole.

blockwriter 4y ago

If any of the reports about Bankman-Fried's drug use are true, that might help explain his behavior.

fourstar 4y ago

“Meeting with regulators” aka meeting with his tribe which I’m sure Gensler is a part of.

goouytrd 4y ago
“His tribe” Is this supposed to be implying something specific?
- deleted 4y ago
  [deleted]
deleted 4y ago
[deleted]

hn_throwaway_99 4y ago

2 points: 1. His tweet thread made me throw up in my mouth a bit. Blaming it on "liquidity" is laughable. Liquidity problems would be like "I own a lot of real estate and it would take me a long time to sell". Alameda's problem was a huge chunk of its balance sheet was FTT - it was fundamentally impossible to ever liquidate those tokens without guaranteeing to tank the price of FTT. Never mind the whole issue that customer funds were never legally his to loan to Alameda in the first place, regardless of crypto regulations or lack thereof. What happened to customer funds was simply theft. 2. I'm not a psychologist, so I don't necessarily want to misuse the term "sociopath", but I have seen this trait in some people that is closely linked to a lack of conscience. That is, I would have never been able to do what SBF and gang did by stealing customer funds to prop up Alameda. And it's not because I'm some wonderfully moral person, it's because I would have become physically ill with guilt and lack of sleep. This is also why I'll never be able to run a large company or handle billions of assets - it would just be too much stress for me. There is a fine line between needing to have a healthy detachment from consequences you may cause, and being a sociopath. The more I hear from SBF just the more I'm convinced he's not on the "healthy detachment" side of things.

pigtailgirl 4y ago

-- his NYT article was... O.o "“People can say all the mean things they want about me online,” he said. “In the end, what’s going to matter to me is what I’ve done and what I can do.” He has also found other ways to occupy his time in recent days, playing the video game Storybook Brawl, though less than he usually does, he said. “It helps me unwind a bit,” he said. “It clears my mind.” Shortly before the interview, Mr. Bankman-Fried had posted a cryptic tweet: the word “What.” Then he had tweeted the letter H. Asked to explain, Mr. Bankman-Fried said he planned to post the letter A and then the letter P. “It’s going to be more than one word,” he said. “I’m making it up as I go.” So he was planning a series of cryptic tweets? “Something like that.” But why? “I don’t know,” he said. “I’m improvising. I think it’s time.”" ..uh.. huh --

memish 4y ago
It's funny they unwittingly plugged FTX's game and didn't mention that he's been seen playing League of Legends.
- zoklet-enjoyer 4y ago
  He spent 4 hours playing LoL on Saturday

colechristensen 4y ago

His best chance of getting the least punishment is cooperating to the max.

diogenescynic 4y ago
Or being the second biggest political donor to the political party in power at the moment. Surely that doesn't hurt...

benjaminwootton 4y ago

Im not defending him, but you can imagine a situation where a lot of conversations are happening in the background whilst wild speculation takes off online. From the balance sheets circulating, there are still a lot of assets there. Some of it is fantasy but some of it is real but various levels of liquidity. Im sure FTX, Sam and everyone associated is looking at how they can turn an $8 billion hole into a $3 billion hole. I don’t think he or FTX are coming back because the reputation is destroyed, but I don’t see this ending in an $8 billion total loss. I am tempted to put my money where my mouth is and buy some FTT for a somewhat positive announcement soon, but maybe that’s just degenerate gambling!

throwawaylinux 4y ago

He paid fealty to the regime and tens of millions of dollars of bribes and protection money to the ruling class. Provided he told all the right people to get out while the getting was good, he's got good reason to be confident. I bet he knows about a lot of skeletons in closets too, although people tend to wind up not killing themselves in prison when they try to use that kind of leverage against the mob, so he'd be well advised to take his flailing about the wrists with a sauteed lettuce leaf if it came to that.

xiphias2 4y ago

I'm so frustrated right now that he's still not arrested while in the sister thread a bicyclist was arrested for touching a car that was hiding its license plate. The government is doing the opposite that it should be doing.