He was trying with his little media tour and basically throwing everyone else under the bus in the process. No one was buying it and he got on record with media with a horseshit story that won't hold up to examination. The other people involved should turn on him. I expect a lot of deals to be made by the people involved to testify against him. Unfortunately that means that a good handful of folks that are just as complicit as SBF will plea bargain for less punishment than they deserve.



.

Now Binance has had almost $1B of net outflow just in the past 24 hours.

https://www.nytimes.com/...t&smid=share-url

BREAKING NEWS
U.S. prosecutors unsealed their criminal indictment against FTX’s Sam Bankman-Fried, charging him with fraud and conspiracy.

Tuesday, December 13, 2022 10:24 AM ET

The founder of the crypto exchange faces eight counts, including wire fraud on customers and lenders and conspiracy to defraud the U.S. and violate campaign finance laws.

Prosecutors for the Justice Department’s Southern District of New York unsealed a criminal indictment on Tuesday, charging Mr. Bankman-Fried with eight counts, including wire fraud on customers and lenders and conspiracy, including conspiring to defraud the United States and violate campaign finance laws.

The Securities and Exchange Commission filed civil charges on Tuesday, alleging that Mr. Bankman-Fried misled investors who committed nearly $2 billion to FTX while also defrauding customers of the exchange.

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clm
Nashville, TN
https://twitter.com/ironclm | http://ironclm.typepad.com

Rumor has it that Caroline Ellison, who was the CEO of Alameda Research, has been in New York last couple weeks (previously thought to be hiding in Qatar). Probably singing like a bird to the authorities.


.

Based on what I read she's probably more culpable than he is for things at Alameda

Maybe, maybe not. She was only the CEO for the 3 months prior to leading up to the implosion.

Sam Trabucco was the CEO of Alameda for last years. He spontaneously stepped down to "go sailing and enjoy life", and Caroline assumed the CEO position. They are all involved. I do wonder if Caroline, while involved the whole time, i'm not sure she was the mastermind. Assuming all the shenanigans were going on for a long time, then Sam T was the main guy at Alameda.

Who knows, but I guess it will all come out eventually.

So this clown directly gave 46MM to Democrats against less than 300K to Republicans in 2020

It also appears he was the largest donor not named Soros to Democrats in the last cycle

Allegedly without any foundation and just according to him he was the second or third largest donor to the GOP via dark money. I'd like to see some proof of that if for no other reason to see how dark donations work

Obviously every single one of these politicians and groups should give that money to the estate or donate to an apolitical charity like kids with cancer

Sam Bankman-Fried says he's the Republicans' third-biggest donor, but used 'dark money' to avoid media criticism

Sam Bankman-Fried says he's the Republicans' third-biggest donor, but used 'dark money' to avoid media criticism (yahoo.com)

Sam Bankman-Fried wasn't the only GOP mega donor at FTX. The CEO gave millions to GOP Congressional campaigns

Cryptocurrency magnate, new GOP megadonor, sunk millions into primaries | Washington Examiner

Oh my God, the irony is just crazy.

"Salame, 29-year-old cryptocurrency mogul, lives in the Bahamas, which is the headquarters of FTX Digital Markets, the firm he oversees as chief executive officer. But he’s a native of Berkshire County, Massachusetts, and as a self-described “libertarian”-leaning Republican, he decided to get involved in politics this year because he believes the federal government is gravely unprepared for the next pandemic."

Right, because science-denying repubs are gonna make the US govt more prepared for the next pandemic!

This moron is too stupid to understand how funny he is!

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Dem Senate Majority Pac stepping up to the plate and returning $3 million.

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It doesn't really matter what Phil is saying, the music of his voice is the appropriate soundtrack for a bicycle race. HTupolev

Stepping up to the plate?

Have any other recipients of political donations from the FTX crew announced that they are returning donations? I could well have missed that if it is the case.

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It doesn't really matter what Phil is saying, the music of his voice is the appropriate soundtrack for a bicycle race. HTupolev

Many from both parties

Excellent. The one I referenced was the first one I saw. I did scan this thread to see if anything mentioned here. Some here didn't seem to think there was any moral obligation to return donations.

Meanwhile, SBF is supposed to be extradited tonight. He insisted on waiving his rights to oppose extradition. I suspect he's finding prison in the Bahamas is no tropical paradise:


Source CNN

I bet SBF has been repeating to himself, "I really, really, really f***ed up."

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________
It doesn't really matter what Phil is saying, the music of his voice is the appropriate soundtrack for a bicycle race. HTupolev

How will the GOP return the millions in dark money donations SBF gave them?

Well he's truly fucked.... Ellison and his co-founder already pleaded guilty in the Southern District earlier today.

Is naive doofus a viable defense?

I believe there was an announcement or something from the SEC or one of the agencies that anyone or entity that received funds/donations/etc... from SBF or FTX might be required by law in the eventual settlement of this to return every $$ they received, as it was all stolen customer money. So a lot of politicians are front-running what they'll be required to do by law later.

Props to Beto O'Rourke (D-TX) that received a $3M donation from FTX earlier this year, and ike a boss, promptly sent the money back with no thanks...way before all this started.

The CEO of a hedge fund and co-founder of a crypto exchange. How old do you feel right now?

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"Are you sure we're going fast enough?" - Emil Zatopek

Old. But also somewhat competent at my job. (I do realize that at least the one on the left apparently sounded some alarms, but not very well, apparently)

Yup. Clawbacks.

Some of the politicians are donating the money to charities they are close to. This is a big mistake as that money should go to the creditors.

As I understand it, SBF didn't give any candidates dark money directly. Dark money goes to a non-profit that then distributes to candidates. So, initially, the onus is really on the non-profits that received the dark money donations from SBF. There will be records of this. We'll find out how much SBF gave to Republican dark money non-profits.

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It doesn't really matter what Phil is saying, the music of his voice is the appropriate soundtrack for a bicycle race. HTupolev

He's on his way to living at home with mommy and daddy again. Much stricter house rules now though.

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It doesn't really matter what Phil is saying, the music of his voice is the appropriate soundtrack for a bicycle race. HTupolev

Poor mom and dad are getting dinged a bit by this too. They are both institutions at Stanford. And it's not a great look kicking it in their son's palatial Bahamas estate when he was arrested.

It's plausible they knew nothing of the illegality, though they were apparently at times involved in FTX-related activities. Nevertheless their Stanford academic reputations will be ever so slightly tarnished at best.