2 ms·

You’re missing the broader context here. The prosecution is alleging massive fraud, while SBF’s defense is that he wasn’t committing fraud, he was just incompet

You’re missing the broader context here. The prosecution is alleging massive fraud, while SBF’s defense is that he wasn’t committing fraud, he was just incompetent. So a lot of the trial hinges on presenting evidence one way or the other for the fraud-or-incompetence question. Things like the counter, which was clearly deliberate and specifically engineered to lie to customers, establish a pattern of deception and make it very hard to allege incompetence. The counter is unimportant in and of itself, it’s how it undermines SBF’s defense.

shapefrog 3y ago
They guy had a personal net worth of ~$100bn; lost all that and $8bn of other peoples money. The prosecution have cracked open the books, turned every single employee, and this is their smoking gun? I will at least say, "goes to character", is absoultely an excellent and as I see it the only logical answer. If however, they have to play that game and that is all they have then they are going to struggle to make a legitimate case. Maximum entertainment value from the sidelines will be not guilty with all the other FTX employees having plead out!
- ac29 3y ago
  > The prosecution have cracked open the books, turned every single employee, and this is their smoking gun? We are not even one week into a six week trial. This particular fraud is only one small part of their overall case.