SBF sentenced to 25 years - thoughts?

[btcinfo891]

Sam Bankman-Fried got 25 years for the FTX collapse. Honestly thought he might get less with all the "effective altruism" BS his lawyers were pushing

 

[goldkingcoiner]

deserved every fucking year. billions stolen and people acting surprised he got hammered

 

[$ara]

wait what exactly did he do? i know ftx collapsed but not the details

 

[junmisakiro]

he take customer money use for trading... very bad thing in business

 

[goldkingcoiner]

lmao "very bad thing" understatement of century

 

[hack3rcon]

Used customer deposits to cover Alameda Research losses. Classic commingling. Billions just gone.

 

[Major]

About time someone in crypto faced real consequences. Been around since 2013, seen too many scammers walk away rich.

 

[$ara]

Used customer deposits to cover Alameda Research losses. Classic commingling. Billions just gone.

what's alameda research?

 

[hack3rcon]

@$ara his trading firm, basically used ftx as personal piggy bank for bad bets

 

[Fjodor]

25 years not enough imo. should be life for destroying so many people

 

[bittersweet]

my friend lost 8k when FTX went down. This sentence feels good but doesn't bring back money

 

[goldkingcoiner]

my friend lost 8k when FTX went down. This sentence feels good but doesn't bring back money

then he shouldve known better than trusting cefi in 2024

 

[bittersweet]

then he shouldve known better than trusting cefi in 2024

easy to say in hindsight asshole

 

[root777]

bankruptcy proceedings still ongoing. might see some recovery eventually but probably pennies on dollar

 

[sk8er]

my dad gonna love this. already thinks all crypto is scams and now biggest exchange ceo going to prison

 

[cryptonit]

wonder if this will make other exchange ceos think twice about sketchy practices

 

[Patronus]

wonder if this will make other exchange ceos think twice about sketchy practices

doubt it. greed always wins over fear

 

[memehunter]

remember when everyone thought this guy was some genius philanthropist?

 

[CryptoDada]

The scale of fraud was staggering - one of largest financial frauds in US history according to prosecutors. This needed to happen to restore some credibility.

 

[Tyrone]

fucking finally. rich boy thought he could steal billions and get slap on wrist