by ramish94 on 11/18/2022, 1:35:35 AM
by ekpyrotic on 11/17/2022, 10:17:46 PM
"Of that total, $1 billion went to Bankman-Fried in the form of a personal loan, while $2.3 billion went to an entity he controls, Paper Bird (Bankman-Fried has told Forbes that owns 75% of the entity, with Wang owning the rest)—so that’s another nearly $1.73 billion at Bankman-Fried’s disposal."
by arthurcolle on 11/17/2022, 10:22:06 PM
Oh my god this guy is going to jail so hard it's wild to watch. It just gets deeper and deeper
by somedude895 on 11/18/2022, 7:38:32 AM
SBF apparently wanted to get in on the Twitter buyout with Elon:
by klipklop on 11/18/2022, 7:00:59 AM
I find it decently unlikely that anything serious happens to Bankman-Fried. There is a zero percent chance the people he helped funnel money into will see a whiff of an investigation.
The level of corruption is too high in US finance and politics for that to happen.
by RadixDLT on 11/18/2022, 9:35:27 AM
Crypto isn’t dead. It’s just getting started.
by jamesredd on 11/18/2022, 12:10:13 AM
This whole story has an odd feeling to it. One has to wonder if a Bankman-Fried, with all of his connections, was the Trojan horse for the public outrage to ban crypto.
The more I read about this, the more Im absolutely dumbfounded that Sequoia poured money into them. It took an outside executive 1 day to find out how effed their balance sheet was. Did Sequoia not perform any due diligence?