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In a way, who cares? People who had funds there should get about 0.5:1 back (which isn't too bad) and, hopefully, investors are now going to do at least five mi

In a way, who cares? People who had funds there should get about 0.5:1 back (which isn't too bad) and, hopefully, investors are now going to do at least five minutes of due diligence before investing in such people (five minutes of googling / searching on Twitter was all that was needed to see SBF was a ponzi scammer: the info was all out there but nobody wanted to listen. Maybe now they will). I don't care if he does zero year, one year or 100 years. It's not as if he was a killer representing a serious menace on society. With what he did nobody will want to hire him, not even as an accountant for a small town's tennis table club. Sure, he's a despicable person who was using stolen money to rent private jets to have amazon shipments sent to him in the Bahamas and he didn't hesitate to lie in court by pretending it was all the fault of his co-conspirators (co-conspirators who pleaded guilty btw) but all that counts is that now he's not going to scam people anymore. The two private jets he bought, the luxury houses in the real estate in his parents name (another trial coming for his parents btw), his scamming company all have been seized. The supposedly "billionaire kid genius", his parents, and his effective altruism guru (who bought a $15m mansion using stolen funds donated by FTX and who was part of the Alameda scam) all got exposed. The true color of these people has been revealed. It's game over.

HenryBemis 3y ago
Well, we kinda all care. It's not that I bought an ice-cream and it was sour and I threw it away. You have to consider the absolute numbers, not just the percentages (50% as you write 0.5:1). I have $100 on Binance. If I lose it, I don't really care. Someone who put their life's savings though has a much bigger problem. Then there are a BUNCH of lessons to learn here. You kinda touch on a couple: "kid genius", "altruism guru", "bahamas" and so on. So how can we all learn from this? 1) there is no fast money?, 2) turtle wins the race?, 3) regulations are there for a good reason (in most cases)? 4) when you see athletes promote financial products run away?, and many many more..

HenryBemis 3y ago

Well, we kinda all care. It's not that I bought an ice-cream and it was sour and I threw it away. You have to consider the absolute numbers, not just the percentages (50% as you write 0.5:1). I have $100 on Binance. If I lose it, I don't really care. Someone who put their life's savings though has a much bigger problem. Then there are a BUNCH of lessons to learn here. You kinda touch on a couple: "kid genius", "altruism guru", "bahamas" and so on. So how can we all learn from this? 1) there is no fast money?, 2) turtle wins the race?, 3) regulations are there for a good reason (in most cases)? 4) when you see athletes promote financial products run away?, and many many more..