MEGATHREAD – The Trial of FTX Founder Sam Bankman-Fried

50 thoughts on “MEGATHREAD – The Trial of FTX Founder Sam Bankman-Fried”

1. Jail him and throw away the key!

2. By the numbers: SBF faces seven counts — two of wire fraud and multiple counts of conspiracy — as he ‘lost’ $8.7 billion in customer funds. We will have to see how the trial goes, but, if convicted, he could face a sentence of 110 years in prison.

   The most important question though , whether FTX’s customers will ever see a share of their money, remains open.

3. Wonder if he has tried to bribe the judge and jury yet.

4. Lock him up and throw away the key

5. I hope there is spice so the future netflix adaption is worth watching.

6. I rather have the thread removed

7. Gat damn

8. Wow, we’ve got a mega thread.
   Can’t wait to discuss the disgusting antics at FTX that we don’t know about yet

9. Lock him up! Lock him up!/

10. At what time does his trial start?

11. Any trial live stream link?

12. Can’t wait for opening arguments. It’s been speculated that he’s going to go for the forgive me but I didn’t know what I was doing defence. i.e. pleading to being a harmless idiot swept up by events.

    As one juror has already asked the judge if they’re expected to consider the death penalty, I have some reservations how the jury’s going to process the issues.

13. when are we getting the Caroline nudes? 🤢

14. I can’t imagine all the new dumb stuff we will be hearing next.

15. Bullish on POPCORN

16. I’m pre-law in college right now, usually I’m objective about cases. But this one in particular, I hope dude gets bare minimum of 40 years flat time. Anything after that is icing on the cake. Hope his parents get some quality time at a federal prison as well…

17. Finally thanks for doing this . Was getting tired this sub being flooded with SBF related news several times a day . This should keep the sub clean and these topics contained to megathreads . Now let’s hope they can nicely wrap this case up and sentence the prick for maximum time so this story can quickly fade away .

18. Grabbing my popcorn!

    Day is set!

19. I just hope this shit doesn’t drag out, and he gets the guilty and a lifelong sentence to prison. Then we never have to hear about him until the “SBF has been in prison for ten years today” posts.

20. Hope he gets nailed

21. Alameda sent $4.1B of FTT tokens to FTX before crash: Nansen report
    https://cointelegraph.com/news/alameda-sent-4-billion-dollar-ftt-tokens-to-ftx-nansen-report

    I guess the generalities of this were known, if not the specifics. Still quite staggering though.

    I guess at some point big numbers just cease to have real world meaning 🤷‍♂️

22. This week is pretty lit 🔥🔥

23. So happy to see this mega thread and not 1000 of the same article in new.

24. Hope he serves 100 years

25. Get his bitch ass!

26. This piece of shoes is a disgrace. Hope he gets what he deserves when he goes to jail

27. Life has a funny way of working out. Glad it all came together for you in the end!

28. SBF’s team already trying to shift the blame to Caroline

    https://www.coindesk.com/policy/2023/10/04/sam-bankman-fried-lied-doj-tells-jury-defense-tries-to-pin-ftx-collapse-on-caroline-ellison/?utm_medium=referral&utm_source=feedly&utm_campaign=headlines

29. Thank you for making a Megathread 💛 bookmarked

30. Coffeezilla already got a mention in the trial by a juror

    https://twitter.com/coffeebreak_YT/status/1709649713366966710?t=VINwK6xc2WdgH1oMhdpZjQ&s=19

31. Anyone else relieved we have a megathreat of this instead of getting 20 posts/day? Thanks Mods!

32. He got his ass well covered

33. Just throw him in an active volcano already.

34. The assets, whose ownership is in dispute, could potentially be used to pay back creditors of FTX

    source

35. CryptoPotato on first testimonies against SBF https://cryptopotato.com/heres-the-first-witness-who-testified-against-sam-bankman-fried-at-his-criminal-trial/

36. https://crypto.news/anthropics-capital-boost-may-secure-full-recovery-for-ftx-customers/

    That may be huge for the victims.
    u/ihaventevengotadog

37. Neue Zürcher Zeitung, a serious swiss newspaper is calling SBF “Bitcoin guru”

    https://www.nzz.ch/finanzen/fuer-krypto-guru-sam-bankman-fried-kommt-die-stunde-der-abrechnung-der-ftx-prozess-beginnt-in-new-york-ld.1758913?reduced=true

    Can you believe that this fraud face will forever be linked to Bitcoin?

38. Is there any chance that we get to read the full text of Caroline’s diaries?

39. In just over a half hour of testimony, Wang said he and Bankman-Fried allowed Alameda Research to withdraw unlimited funds from FTX “and we lied to the public.” Wang said not only was Alameda Research permitted to maintain negative balances and unlimited open positions, but the computer code that controlled its operations was written to provide a line of credit of $65 billion, a number so large that Judge Lewis A. Kaplan questioned Wang briefly to ensure he was talking about billions rather than millions. Wang testified that the special computer code features were directed by Bankman-Fried

40. SBF getting slaughtered

    https://bitcoinist.com/ftx-co-founder-sam-bankman-fried/

41. I never thought we’d see the day when people will write books in praise of the biggest scammer in financial fraud history. 🤷

42. https://protos.com/whos-gary-wang-the-co-founder-of-ftx-testifying-against-sam-bankman-fried/

    ​

    with a name like that, you can bet he’s a dick

43. Isn’t going well at all for Sammy boi

    https://www.coindesk.com/policy/2023/10/06/sam-bankman-frieds-lawyers-test-the-judges-patience/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

44. 65B line of credit to Alameda, and special treatment to high networth ppl. Absolutely ridiculous, luckily his top ppl are cooperating with prosecutuers

45. FTX co-founder Gary Wang’s eye-popping testimony

    Prosecutor – Did you commit financial crimes while working at FTX?

    Wang: Yes

    Prosecutor: What types of crimes did you commit?

    Wang: Wire fraud, securities fraud and commodities fraud

    Prosecutor: Did you commit these crimes by yourself or with other people?

    Wang: With other people

    Prosecutor: Who were the main people you committed these crimes with?

    Wang: Sam Bankman-Fried, Nishad Singh, and Caroline Ellison

    Prosecutor: You’re talking about Alameda Research?

    Wang: Yes

    Prosecutor: Okay. We’ll come back to it in a minute. When you say withdrew unlimited amounts of funds, whose funds are you talking about?

    Wang: Those of customers

    Prosecutor: Let’s talk about——sorry. And customers of what?

    Wang: Customers of FTX

    Prosecutor: Mr. Wang, do you see any of the people you committed those crimes with in the courtroom today? You can stand up if you need to.

    Wang: Yes

    Prosecutor: Who do you see?

    Wang: Sam Bankman-Fried

    Prosecutor: Let the record reflect the witness has identified the defendant

    Prosecutor: Mr. Wang, in general terms for now, what did you do with the defendant that was the wire fraud you were referring to?

    Wang: We gave special privileges to Alameda Research on FTX, which allowed it to withdraw unlimited amounts of funds from the platform, and we lied about this to the public

    Prosecutor: When you say withdrew unlimited funds from the platform, what are you referring to?

    Wang: It had the ability to, regardless of what was in the account, to withdraw unlimited amounts of money

    There was no prevarication in his answers. Clearly, he’s cut a deal. There have been rumors that Caroline has also cut a deal.

46. https://www.coindesk.com/consensus-magazine/2023/10/06/what-happened-during-sam-bankman-frieds-first-week-in-court/?_gl=1*lsnsx4*_up*MQ..*_ga*MTMxNDQxNjA2MS4xNjk2NzA3MDEw*_ga_VM3STRYVN8*MTY5NjcwNzAxMC4xLjAuMTY5NjcwNzAxMC4wLjAuMA..

    Good little summary of the first week of the trial.

47. While Sam doing time would be great, real justice would be people who have lost money getting it back. All $8.7B of it.

48. what is the maximum duration that the judge can give to SBF

49. I liked how this thread disappeared over much of the weekend

50. Just saw this thread and it’s already been here for 4 days now. Thanks for pinning this one.

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