3 ms·
Maybe it's just a coincidence, but at first I had heard about SBF making $50 million out of that Japanese arbitrage thing, and then, a few days later, of him re
by paganel 4y ago
Maybe it's just a coincidence, but at first I had heard about SBF making $50 million out of that Japanese arbitrage thing, and then, a few days later, of him receiving the same sum of $50 million as an investment from a guy named Tallinn (actually a loan, according to this Times article [1]).
So most probably he didn't make $50 million from the arbitrage alone. He did make some money out of it, but not that exact sum. Which also reminds me that he didn't make the money in his name, he had used a EA person based in Japan who actually opened up an account with a small Japanese agricultural bank or something like that. So the money was in that person's name. There's no way for that Japanese person to have transferred $50 million to SBF without automatically triggering countless money laundering alarms. And "transfer" is the wrong word, that person had to donate those $50 million to SBF (or to FTX?) in order to make them be SBF's (FTX's?) money.
[1] https://www.thetimes.co.uk/article/sam-bankman-fried-the-nerd-king-who-lost-16bn-in-one-click-wgm2rd82j https://www.thetimes.co.uk/article/sam-bankman-fried-the-ner...