Discussion

• @carnage4life Dare Obasanjo on threads

  So much for crypto being too big to fail.  SBF isn't even too big to jail.

• @alexkantrowitz Alex Kantrowitz on threads

  In the end, what Sam showed all of us is that you cannot simply tweet your way through it

• @erikvoorhees Erik Voorhees on x

  SBF found guilty on all 7 counts. Let's remember that he operated “the safe and regulated” exchange, and not a single regulator caught him. It was, instead, the market, which is not only a great fountain of innovation, but also the best arbiter of discipline and justice.

• @haydenzadams @haydenzadams on x

  While I believe the SBF guilty verdict is the right outcome, imo it's not a day to celebrate - billions in user funds were lost and our industry took a massive reputational hit. The only winners were a few law firms and various opponents of crypto ~6 months before FTX' downfall,.…

• @alfred_lin Alfred Lin on x

  Immediately after FTX collapsed, we extensively reviewed our due diligence process and evaluated our 18-month working relationship with SBF. We concluded that we had been deliberately misled and lied to.

• @innercitypress @innercitypress on x

  Deputy: Count 4? Guilty. Count 5: Guilty Count 6: Guilty. Count 7: Guilty. Deputy: Thank you. Judge Kaplan: There's another question, Andy. Deputy: Either or both? Both.

• @hshaban Hamza Shaban on x

  .@mslopatto focuses on SBF's mom and dad as the jury returned a guilty verdict. On the shame and humiliation of dishonoring your parents in full public view https://www.theverge.com/... [image]

• @lastcallcnbc @lastcallcnbc on x

  “Sam Bankman-Fried perpetrated one of the biggest financial frauds in American history,” says U.S. attorney Damian Williams. “The cryptocurrency industry might be new. The players, like Sam Bankman-Fried, might be new. But this kind of corruption is as old as time.” [video]

• @katie_haun Kathryn Haun on x

  Now that SBF has been found guilty on all counts, people are asking what sentence he may get. I think the answer is likely decades in prison. People confuse the statutory maximum sentence (the max a judge is allowed to give) with the sentencing guidelines recommended sentence... …

• @valueterminal @valueterminal on x

  Sequoia on SBF verdict day https://twitter.com/...

• @markdice Mark Dice on x

  Yep. You're crazy. Or a total scam artist too.

• @satoshibaggins Arsen on x

  This thread alone is enough to put SBF in jail [image]

• @mattbinder Matt Binder on x

  there was a significant number of people on here who were absolutely convinced for no reason that SBF was going to completely get away with it like, not even an arrest or trial here's one of them [image]

• @parismarx Paris Marx on x

  always happy to see a tech dipshit go to prison, but this one doesn't elicit the same joy as seeing elizabeth holmes finally surrendering herself because it was just so obvious where sam bankman-fried was going to end up

• @chafkin Max Chafkin on x

  I think he would have been convicted anyway, but SBFs testimony worked out exactly as everyone predicted it would. And it kind of revealed how much of the supposed magic he was said to possess never really existed

• @innercitypress @innercitypress on x

  SBF's lawyer Mark Cohen: We would like the jury polled. [Verdict is confirmed] Judge Kaplan: Jurors, I thank you. You did what we hope all citizens do when called for service. That was your call. In just a minute I am going to discharge you. You can speak about it

• @garrytan Garry Tan on x

  If SBF goes to jail thanks to the reporting of Tiffany Fong and California politics gets remade because of the vigilant journalism of CA Insider... Then: surely a catastrophic and chilling mistake is being made by Trust and Safety at YouTube with regularity

• @autismcapital @autismcapital on x

  If Sam Trabucco's name doesn't show up in the campaign finance violation charge or the china bribery charge at the next Sam Bankman-Fried trial, we're hiring James Cameron and going hunting on the open seas for him ourselves.

• @ryansadams Ryan Sξan Adams on x

  SBF DECLARED GULITY. We're rid of him. I'm still convinced the debate between he and Erik Voorhees was the spark that took him down. As we cast away the frauds let's take a moment to thank the ones who've stayed true to crypto values. Crypto is stronger than ever. [image]

• @ryxcommar @ryxcommar on x

  Your due diligence process was you and your dimwitted partner pals jizzing themselves over SBF saying “you should be able to use your money to buy a banana” while he was playing a Bronze III rank game of League.

• @alfred_lin Alfred Lin on x

  In the last year, we have had to remain quiet while the prosecution built its case and through the trial period. We are pleased that the trial is over.

• @ben_mckenzie Ben McKenzie on x

  SBF's conviction on all counts is a pivotal moment for crypto, but there is more to come. Sam's company Alameda Research was the biggest client of @Tether_to. @cz of Binance was one of FTX's first investors. Good luck to the players still seated at the table.

• @dlauer Dave Lauer on x

  SBF found guilty on all charges. Faces over 100 years in prison. Wow, that was quick, took the jury less than 5 hours.

• @moorehn Heidi N. Moore on x

  The “cover of Fortune” curse is still the most powerful predictor of downfall in business

• @loopifyyy @loopifyyy on x

  gm to everyone except SAM BANKMAN FRIED

• @asilbwrites Amanda Silberling on x

  It only took 4 hours for the jury to find SBF guilty on all counts related to fraud and money laundering... for comparison, it took Elizabeth Holmes' jury seven full days in court to come to a verdict. Great reporting here from @jacqmelinek: https://techcrunch.com/...

• @divine_economy David Phelps on x

  friendly reminder that if sbf had built his empire onchain, he never would have been able to hide funds, defraud clients, or be sentenced to a life in prison his reign of crime? yes, actually: crypto solve this sbf literally is crypto's golden use case

• @coinmamba @coinmamba on x

  Looks like SBF fucked off on all 7 counts..

• @internethippo @internethippo on x

  So this didn't work [image]

• @vishal4c Vishal Chawla on x

  The Wikipedia page on SBF was updated to include the description ‘convicted fraudster.’ [image]

• @jimmyvs24 James V. Straten on x

  Poetic, that @SBF_FTX gets found guilty on all 7 charges almost to the day that @FTX_Official collapsed. We should start to see the supply last active 1+ years ago start to trend higher, to see who bought the cheap coins off Sam and FTX. Thanks for the cheap coins sir... [image]

• @nichcarlson Nicholas Carlson on x

  This reporting also led to the destruction of the newsroom it came from. A powerful testament to independent journalists.

• @eringriffith Erin Griffith on x

  It is the beauty and the curse of Silicon Valley's innovation machine — so eager to fail fast, so focused on the future and the shiny new thing — that few ever seem to learn from its mistakes. https://www.nytimes.com/...

• @autismcapital @autismcapital on x

  Sam Bankman-Fried FAQs: 1) Guilty on 7 charges 2) Maximum sentence is 115 years 3) Sentencing is March 28, 2024. 4) Likely medium security prison. 5) He has a second trial March, 11, 2024 for 5 more charges. 6) The second trial sentencing may likely also be done on March 28th....

• @innercitypress @innercitypress on x

  I hear you- but on the China bribe / Foreign Corrupt Practices Act charges, in which not only SBF but also, in the Signal chat, Trabucco and others are implicated- there has been no accountability, DOJ has allowed the Bahamas, with huge Chinese embassy, to veto it

• @wutangkids @wutangkids on x

  Elon's prediction about SBF was very wrong [image]

• @obsoletedogma Matt O'Brien on x

  In the end, the only person SBF could fool was Michael Lewis

• @davecraige Dave Craige on x

  so I guess SBF isn't going to be the world's first trillionionare after all [image]

• @librariancap @librariancap on x

  @ajb_powell “Sam Bankman-Fried ... has a $200mn investment in two funds run by Sequoia, the US venture capital investor, held through his Alameda Research crypto trading group” (FT) https://www.ft.com/... [image]

• @indian_bronson @indian_bronson on x

  Just a little reminder that SBF was the favorite child of the incumbent government and financial players, and vaunted in media, because of his anti-Bitcoin/PoW, anti-self-custody stances

• @erikvoorhees Erik Voorhees on x

  The Fed is a greater scam than FTX. The latter has stopped robbing you.

• @cramertracker @cramertracker on x

  SBF never stood a chance [image]

• @jasonklau Jason Lau on x

  Glad we can put SBF behind us and actually focus on crypto, tech developments, and all the progress we've made over the past year. SBF and his failings were never about crypto anyway.

• @steinkobbe @steinkobbe on x

  He didn't buy him a drink but he wrote a blog post about what a great guy SBF is and argued we should all support his mission in deregulating the financial regulators policing him

• @jacqmelinek Jacquelyn Melinek on x

  The jury took ~4 hours to determine SBF was guilty on all 7 charges. Sentencing will be determined later by Judge Kaplan, which typically happens within 90 days of a guilty verdict. The 7 charges bring a total possible sentence of 115 years in jail. https://techcrunch.com/...

• @robustus Dan McArdle on x

  Remember how the New York Times still had him scheduled as a speaker at their event, weeks after FTX imploded, and weeks after it was clear to ~everyone what happened?

• @silvermanjacob Jacob Silverman on x

  Why did Sequoia invest 200m in FTX, which SBF (via Alameda) then put in a different Sequoia investment fund? Haven't heard an answer to this.

• @intern @intern on x

  RIP bozo [image]

• @macromate8 @macromate8 on x

  SBF was given to us for a reason: to shift trading onchain where there's 1000x more transparency If regulators can't do their job at keeping funds safu, blockchains will

• @eking0x Ekin on x

  Bankman-Fried's father, Joe Bankman, sat with his head in his hands while the verdict was read. After jurors were polled, Bankman-Fried's mother, Barbara Fried, cried quietly. Both parents gripped each others' hands throughout. ^ @aleks_gilbert reporting from the courthouse:

• @mattyglesias Matthew Yglesias on x

  Really glad I insisted on splitting the check when I met SBF for a drink that one time. Turns out he did some crimes.

• @ntmoney Nick Tomaino on x

  Venture capitalists who gave SBF hundreds of millions of dollars are now taking victory laps bc of a guilty verdict. No accountability for their horrible judgement or the soulless greed that sucked them into such a massive fraud Silicon Valley fraudulence at its finest

• @alexluck9 Alex Luck on x

  So Bankman-Fried is gonna get locked up for a bunch of decades and thats today's good news on the matter of being greedy and dumb and having to face the consequences for that.

• @alfred_lin Alfred Lin on x

  Today's swift and unanimous verdict confirms what we already knew: that SBF misled and deceived so many, from customers and employees to business partners and investors, including myself and Sequoia.

• @greentexts_bot @greentexts_bot on x

  Anon on Sam Bankman-Fried. [image]

• @drjbhattacharya Jay Bhattacharya on x

  The misnamed ‘effective altruist’ movement bankrolled lockdown apologists and the covid panic industry. Do the founders of the movement still support these causes as SBF did?

• @rscharf_ Rachel Scharf on x

  As everyone's heard by now, the verdict is guilty on all counts. I was in the courtroom for the reading. SBF showed little emotion, but Joe Bankman slumped over and Barbara Fried visibly cried. As SBF was led out by court marshals, he looked back at his parents and was shaking.

• @teddyschleifer Teddy Schleifer on x

  One year ago today, a story appeared in Coindesk leading to the fall of FTX. Today, Sam Bankman-Fried was convicted of a massive criminal conspiracy.

• @mattbinder Matt Binder on x

  the most wrong person on this website spent a whole year saying “SBF is going to get away with it” [image]

• @foldablehuman Dan Olson on x

  I'm assuming that the four and a half hours of jury deliberation is SBF's trial included a quick lunch and a matinee of Killers of the Flower Moon

• @lilmoonlambo @lilmoonlambo on x

  Jonah Hill is about to land the biggest role of his career [image]

• @drawandstrike Brian Cates on x

  The judge is gonna have some discretion at sentencing, so I don't think SBF is gonna get the full 115 years. But he'll get a **significant** sentence. He refused to cooperate and he insisted on rolling the dice in challenging no less than SEVEN felony charges. 50 yrs at...

• @tristansnell Tristan Snell on x

  BREAKING: Sam Bankman-Fried GUILTY on all 7 counts. Jury only took 4 1/2 hours to deliberate. The FTX case looked like a slam dunk — and it was. Next comes sentencing. SBF is going to prison — likely for a long long time.

• @markdice Mark Dice on x

  He wasn't being sarcastic. Here's Sam Bankman-Fried thanking him for his support. https://twitter.com/...

• @parikpatelcfa @parikpatelcfa on x

  SBF should be in jail for this thread alone [image]

• @hsakatrades @hsakatrades on x

  rip bozo never talk shit about my browser again

• @0xfoobar @0xfoobar on x

  SBF is a lot of things, but he's not exactly a gambler, to spend customer funds on Bahamian real estate and locked MAPS, I assume he knows something

• @collinrugg Collin Rugg on x

  BREAKING: Crypto scammer Sam Bankman-Fried has been found guilty on all charges in his first criminal trial. The New York jury determined Bankman-Fried defrauded customers, investors and lenders. Bankman-Fried was found guilty on seven charges and faces a whopping maximum... [vid…

• @altcoinpsycho @altcoinpsycho on x

  [image]

• @cryptonator1337 @cryptonator1337 on x

  While everyone is talking about SBF; let's not forget about Do Kwon! The SEC asked the court for a summary judgement, avoiding a full trial. This decision is based on the Howey Test: 'The Court previously recognized that, if shown to be true, such facts would establish an... [ima…

• @kantrowitz Alex Kantrowitz on x

  Sam Bankman-Fried had the most rapid rise and fall I think we'll ever see. Just a human milkshake duck.

• @wolf_vukovic Vuk Vukovic on x

  Elite networks matter. #SBF is a case-in-point When you fall out of favor with your elite network (like he did, or Elizabeth Holmes, or Bernie Madoff, or Jeffrey Epstein), you do get punished. Not cause you broke the law, but because you made your friends look foolish.

• @danprimack Dan Primack on x

  SBF is guilty across the board. (I'm old enough to remember when a lot of folks here insisted he'd never even be arrested because he gave $$ to Democrats).

• @byyourlogic @byyourlogic on x

  it's hilarious that SBF's trial took exactly a month. federal trials for finance shit can take years and the require jurors to learn a ton of background information. in this case, he was just straight up sending emails like “lying about our reserves is 🔥”

• @unusual_whales @unusual_whales on x

  SBF, Sam Bankman-Fried has been found guilty. However around 40% of CONGRESS(!!!) received donations from SBF and FTX that were mixed user funds! Only a few politicians returned or donated the funds. Here is the full list of everyone who has received funds from FTX and Sam. [imag…

• @wifeyalpha @wifeyalpha on x

  SBF thought he was Robin Hood but he was just robbing.

• @ajb_powell Jamie Powell on x

  “due diligence”, my brother in christ it had no board of directors, no cfo, no head of risk and was incorporated in antigua and barbuda. 2 mins of googling would have got you there.

• @thejusticedept @thejusticedept on x

  Attorney General Merrick B. Garland Statement on Guilty Verdict in Jury Trial of Sam Bankman-Fried https://www.justice.gov/...

• @thekinocorner @thekinocorner on x

  can't wait for adam mckay's dramatization of SBF's trial

• @glennthrush Glenn Thrush on x

  For Merrick Garland, typically hyper-circumspect, this statement on the SBF verdict is quite the scorcher: “This case should send a clear message to anyone who tries to hide their crimes behind a shiny new thing they claim no one else is smart enough to understand...”

• @gfodor @gfodor on x

  I'll admit it looked like SBF was somehow gonna get off for a minute there. You can tell some major strings were getting pulled. But, lmao

• @albz321 Bubble Boi on x

  SBF going to jail while everyone else who testified against him walking free is bad. Basically says you can commit fraud as long as you snitch on the more famous guy. Your telling me that little American girl doll didn't know she was doing something illegal?

• @anammostarac Ana Mostarac on x

  Find someone who supports you like Bill supports SBF [image]

• r/JoeRogan r on reddit

  Sam Bankman-Fried found guilty on all seven criminal fraud counts

• r/CryptoCurrencyMAX r on reddit

  ‘Crypto King’ Sam Bankman-Fried guilty of FTX fraud

• r/bayarea r on reddit

  Sam Bankman-Fried found guilty on all seven criminal fraud counts

• r/nyc r on reddit

  Sam Bankman-Fried found guilty on all seven criminal fraud counts

• r/Buttcoin r on reddit

  “Effective Altruist” found guilty on all counts of effectively altruistically scamming greater fools out of their money.

• r/technology r on reddit

  Sam Bankman-Fried found guilty on all seven counts

• r/wallstreetbets r on reddit

  Bitcoin going to $1M by 2025

• r/GME r on reddit

  Is it Ken G's turn?

• r/Superstonk r on reddit

  So is it Ken G's turn?  Me guess GG doesn't have the balls to touch that.

• @brunoswerneck Bruno Werneck de Almeida on x

  Sequoia's comments on SBF is the definition of moral hazard Heads I win, tails you lose dynamic in VC during the bull market shows the weakness in the model Pick your funders wisely

• @machiavellecon Tominaga Nakamoto on x

  With hindsight, this is actually a fun thread, with some screen grabs of the Sequoia Capital (VC who backed SBF/FTX) narrative left for history.

• @stoneatwine @stoneatwine on x

  There are founders creating exceptional businesses, but the SBFs of this world are quite appealing to the VC model. Not many VCs would have said no to SBF or other shady characters with the gift of the gab and flair.

• @vcbrags @vcbrags on x

  @Alfred_Lin [image]

• @stuartblitz Stuart Blitz on x

  I would bet that an SBF/Holmes co-founding team could raise VC funding (post-jail)

• @dannypage Danny Page on x

  i'm sure all the VCs who got behind SBF are all on the up and up and we should totally trust them on AI.

• @runemirqi @runemirqi on x

  Let's be honest; 2 years ago, most of us thought SBF was a boy genius. Going hard after those VCs now is silly. We all threw cash at him (including me and almost everyone I know in crypto). This was a collective failure of judgment.

• @devahaz Deva Hazarika on x

  @buccocapital Wonder what the chances are any FTX VC says “it was a superheated market with everything moving crazy fast so we took shortcuts to get into this hot deal instead of doing proper diligence, we'll learn from this screwup and try not to make the same mistakes going for…

• @ghose77 Rupak on x

  A commonality between SBF and his VC backers (well most of the VC industry) is not knowing when to shut up...anyway growing up watching US cop shows would know the term...plead the fifth...but alas these guys have the confidence of a run away ChatGPT...

• @dlberes Damon Beres on x

  “The incentive structures of Silicon Valley—and the huge sums that can be gained from selling stories rather than functional products—mean that the door remains open for other people to follow in his tracks” @loracorkelley https://www.theatlantic.com/ ... https://www.theatlantic.…

• @buccocapital BuccoCapital Guy on x

  The fucker tricked us by playing League of Legends during his pitch [image]