#Breaking Sam Bankman-Fried Pleads Not Guilty
I have been following #FTX, this is the biggest fraud ever that affects people's confidence in crypto. It feels as if FTX conspires with SEC, given their relationships, to make up excuses while benefiting certain people, and pave the path to justify more regulation.
What does SBF have under his sleeves? Is this is where "doomed if I do, doomed if I don't" moment where this is the most optimal strategy? Does he expect better outcome to take this to trial? Maybe. If the list of names need to be hidden under the wrap, this surely will apply some pressures to encourage those that want to remain ambiguous step up and apply political pressures.
Is there reasonable doubt that he did not commit any of the crimes he was accused of?
- Conspiracy to commit wire fraud on customers
- Wire fraud on customers
- Conspiracy to commit wire fraud on lenders
- Wire fraud on lenders
- Conspiracy to commit commodities fraud
- Conspiracy to commit securities fraud
- Conspiracy to commit money laundering
- Conspiracy to defraud the United States and violate the campaign finance law
Highly unlikely.
How about purchashing properties using customers' funds? Is it also too hard to be proven?
Maybe he thinks this is a game, he is not stupid. How many people has he bought? What's cooking behind the scene?
Maybe the plead bargain did not go too well. If you start to look at the accumulative jail time, this may be the only way out if he's got a good attorney, and bargain for a better deal.
We are all interested to know the official confirmation what he did with the money, who the beneficiaries are. Will this case be fully transparent to the public? Or will it be hidden behind the curtains?
Time will tell. The sooner we can leave this behind us the sooner the sooner we can recover.