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SBF isn't Madoff. He didn't leave a streak of bereft retirees in his wake. Woe to the hedge funds and HFT firms that lost money to SBF. FTX was just a particu
by jnwatson 3y ago
SBF isn't Madoff. He didn't leave a streak of bereft retirees in his wake. Woe to the hedge funds and HFT firms that lost money to SBF.
FTX was just a particularly fetid pool in a massive swamp of an industry.
This isn't to say he shouldn't get a decent chunk of prison time.
- DANmode 3y ago> He didn't leave a streak of bereft retirees in his wake. https://www.bloomberg.com/news/articles/2022-07-14/celsius-bankruptcy-filing-shows-long-reach-of-sam-bankman-fried https://www.bloomberg.com/news/articles/2022-07-14/celsius-b... https://fortune.com/2022/06/14/celsius-freezes-assets-big-canadian-pension-plan-that-backed-the-network-on-the-hook/ https://fortune.com/2022/06/14/celsius-freezes-assets-big-ca...
- quesera 3y ago> SBF isn't Madoff. He didn't leave a streak of bereft retirees in his wake FWIW, and I don't know whether to be cynical or impressed by this, but claims ($19.5BB) against Madoff's fraud have been largely restituted ($14.6BB, ~75%). There were individual human investors in both Madoff and FTX. There were also wealth funds and the absurdly rich in both. But as it stands today, FTX may have done more harm to humans than Madoff.
- paulddraper 3y agoWhere did the money come from?