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The only possible salvation for Sam Bankman-Fried is his own testimony.
it did not go well.
https://www.theverge.com/2023/10/26/23934195/sam-bankman-fried-self-testimony-deleted-signal
@Kinnison All the crypto in the world isn't going to stop the court from making an example out of him.
@Kinnison Weird how crypto needs the government’s legal definitions of fraud and theft to deal with something that was supposed to be “anarchic and beyond government control.”
@sfleetucker @Kinnison IMHO it's inherently fraudulent anyway.
Sam Bankman-Fried sentencing today. Not going well for defense. His Offense is level 60. Max is 43.
Judge Kaplan: For the reasons well articulated by Mr. Ray, that people will be paid back is speculative. So I find the loss amount readily exceeds $550 million, the top tier. I find investors lost $1.7 billion, lenders lost $1.3 billion, and customers, $8 billion
#sbf #crypto #news