SBF returns to 250 million lux, crypto-Twitter (CT) baffles

Updated December 23, 2022 at 11:20 am

Former FTX CEO Sam Bankman-Fried (SBF) returns to the US. His transfer took place yesterday, Thursday, December 22, 2022. The cryptocurrency community has raised many questions about how the former CEO of FTX was able to get a bailout for an astronomical amount and the future terms of it.

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Sam Bankman-Fried (SBF) returns home on a 250 million bail

Sam Bankman-Fried (SBF) is still charged 8 numbersincluding fraud and money launderingHe was the former general director of FTX was released and turned over to his parents this Thursday, December 22, 2022 for deposit 250 million dollars :

It was Bankman-Fried was convicted shut up in his houses parents A federal judge in Palo Alto, Calif., said Thursday during the disgraced founder’s first appearance in federal court in New York.

Federal prosecutors have not sought bail but have granted presumptive ones “The highest temporary guarantee ever recorded”– said the assistant US attorney Nick Roos at Thursday’s meeting.

Bankman-Fried’s agreement to be extradited to the United States from the Bahamas (where he lived and was imprisoned) helped bring about a positive outcome in his case. bailRoos said.

“It was a scam epic proportions, Mr. Roos said. If that was the only criterion it would probably be appropriate to catch it. But there is gave voluntary consent to extradition. Weight should be given. »

It will close Signed by Bankman-Friedhis parents and one non-family memberaccording to legal procedures.

“The defendant has acquired sufficient notoriety to make it impossible for him to continue his financial operations,” Federal Judge Gabriel Gorenstein said in court. “He would be known. So I will allows him to be released. »

A quarter of a billion dollars in bail is in the upper echelons date For the US, even accounting for inflation. Figure, for example, It eclipses Bernie Madoff’s condition 10 million in 2008.

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Confused and Angry Crypto-Twitter (CT)

Some members of the crypto community on Twitter (Crypto-Twitter) were initially confused by the $250 million pledge, wondering how Sam Bankman-Fried could have such an exorbitant amount and then be willing to pay so much. previously claimed less than $100,000 in the bank account:

According to the bail agreement, bail is paid only if or when Sam Bankman-Fried fails to appear in court in the future. violates other conditions about the release of bail appearance in court and extradition to be punished.

Meanwhile, those reviewing court documents instead shared concerns that Bankman-Fried’s sureties, including her father, Allan Joseph Bankman, and her mother, Barbara Fried, would be held liable if SBF violates the terms of her bond.

Wall of All Streets podcast host Scott Melker announced on Twitter on December 23. Even if SBF does not have to pay 250 million dollars to avoid prisonif he “forfeited” his parents will have to work “17 overtime jobs” to find the money.

Autism Capital explained on Twitter that while it doesn’t have to pay upfront, He left his parents, relatives and relatives in a difficult situation :

Therefore, there is Crypto-Twitter anger at this event. Because there are many crypto investors lost a large part or even total their capital It is very irritating to see the ex-CEO branded as a “thief and bandit” in the collapse of FTX.

Indeed, Sam Bankman-Fried must pay for his debts and his “crimes,” with his life if necessary. Ex-FTX users who know that he paid 250 million dollars for its release should think that he released it with their own money.

Stephen McClurg wrote about it on Twitter SBF parents should not use their home as collateral from the deposit because it was bought with “stolen FTX funds”. :

In addition, Caroline Ellison, former managing director of Alemada Research, and Gary Wang, co-founder of FTX, pleaded. guilty accused of fraud and other criminal acts. That’s why they avoid accusations could be worth it 115 years in prison.

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