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> It's insane he could have cashed out as a billionaire hah no. The billionaire claim was bull used to promote himself and his businesses. I wouldn't be sur

by nullc 3y ago

> It's insane he could have cashed out as a billionaire hah no. The billionaire claim was bull used to promote himself and his businesses. I wouldn't be surprised if a detailed accounting showed that he has never had a positive liquidation value for FTX and Alameda at any point in time. It's a common problem people have in reasoning about fraudsters-- there is a tendency to only peel back one layer of fraud and get caught because the fraud continues all the way down. :)

nullc 3y ago
(okay never positive at any time might be a little too far, I wouldn't be shocked if it was a few millions in the black at some point or another-- but billions? I would be shocked unless you used obviously fraudulent accounting like valuing illiquid assets at the last trade price)
Melting_Harps 3y ago
> hah no. The billionaire claim was bull used to promote himself and his businesses. Granted, but as we have seen with these exit scams you don't need to be operating a cash or crypto positive business in order to run off with people's funds. All of these leaks and loans etc... were likely him siphoning funds if/when he was eventually caught. I still think it takes a certain kind of crook to setup shop in the Bahamas, purchase an immensely ostentatious home, make your sexual proclivities known to the World while splashing money around to make politicians make favourable legislation for your crooked business, stream yourself playing video games while doing pitches to VCs and getting them, all while talking about effective altruism and guaranteed yield and none of that has to do with being business savvy and everything to do with be a grifter. He is like Razzlekhan's bf, he had a golden ticket with billions in BTC and could have just woke up and left to Russia or Belarus (and eventually Turkey where all the Oligarchs are now buying up sea-side Villas given the distressed Lira) where he could have even been chummy with Putin given how he evaded the US intelligence community: instead the two were out buying Playstations with walmart gift cards and making shitty rap videos on youtube and got pinched when they left a copy of the private keys on a cloud server!
- nullc 3y ago
  There I agree: there would have been opportunities for a profitable illegal exit. But the kind of grifters who are able to say "this is good enough" don't tend to find themselves atop such a gigantic scheme to begin with... they scam off a few million dollars and fade silently into the night.

by nullc 3y ago

nullc 3y ago

(okay never positive at any time might be a little too far, I wouldn't be shocked if it was a few millions in the black at some point or another-- but billions? I would be shocked unless you used obviously fraudulent accounting like valuing illiquid assets at the last trade price)

Melting_Harps 3y ago

> hah no. The billionaire claim was bull used to promote himself and his businesses. Granted, but as we have seen with these exit scams you don't need to be operating a cash or crypto positive business in order to run off with people's funds. All of these leaks and loans etc... were likely him siphoning funds if/when he was eventually caught. I still think it takes a certain kind of crook to setup shop in the Bahamas, purchase an immensely ostentatious home, make your sexual proclivities known to the World while splashing money around to make politicians make favourable legislation for your crooked business, stream yourself playing video games while doing pitches to VCs and getting them, all while talking about effective altruism and guaranteed yield and none of that has to do with being business savvy and everything to do with be a grifter. He is like Razzlekhan's bf, he had a golden ticket with billions in BTC and could have just woke up and left to Russia or Belarus (and eventually Turkey where all the Oligarchs are now buying up sea-side Villas given the distressed Lira) where he could have even been chummy with Putin given how he evaded the US intelligence community: instead the two were out buying Playstations with walmart gift cards and making shitty rap videos on youtube and got pinched when they left a copy of the private keys on a cloud server!

nullc 3y ago
There I agree: there would have been opportunities for a profitable illegal exit. But the kind of grifters who are able to say "this is good enough" don't tend to find themselves atop such a gigantic scheme to begin with... they scam off a few million dollars and fade silently into the night.