Billion dollar crypto wunderkind turns out to be a scammer

If SBF were a Musk-type “libertarian” or right-winger, the Spectator would have no problem with him.

Seems like a half-written article. I really yearn for the days when well written, informative articles were entertaining, instead of small entertaining articles that aren’t very informative.

You're not allowed to talk about him, OP.

Is this going to hurt the rest of the economy? Is this another Lehman Brothers type of event?

Nah, it’s a Madoff event. How much money will be retrieved and returned depends on how many Jewish people he ripped off.

Is this the FTX scandal? Billions were laundered in Ukraine through FTX.

They're going to make a movie about this story. There is some really embarrassing clips of how the media fawned over this guy. About how he drove a Toyota Corolla to work, lived with 10 roommates and a golden doodle named Gopher. And all he wanted to do was give his money to charity!

[post redacted because linking to dailymail.co.uk clearly indicates that the poster is either a troll or an idiot (probably both, honestly.) Our advice is that you just ignore this poster but whatever you do, don't click on any link to this putrid rag.]

Wow, the girlfriend is beyond hideous!

Will he still be a part of the NY Times Dealbook Summit in a couple weeks?

Is it true this guy is Biden's second biggest donor?

Is the girlfriend the real life Kimberly Akimbo from Broadway ?

Sam Bankman-Fried ex Caroline Ellison made ‘foray’ into ‘Chinese harem’ polyamory

This guy's persona reminds me of someone. I can't think of who though.

Well, you can't accuse these guys that they wasted money on making themselves prettier.

Another Psychopath.

One of the Democrats largest donors r11.

Interesting

Yep. Second largest donor to the party.

Whoa.

So many of us called this.

Keep your eye on the pension funds and other "professional" investors who gave this guy vast sums without getting any board representation, leaving him in unchecked control. They created this monster.

posting a spectator article = instant block

R22 Along with the media -- yes, that means you NYT -- who glorified the wunderkid. Suspect his parents have some answering to do, too.

Good Lord at the girlfriend. Is there an actress ugly enough to play her in the movie?

Oh please as if he is not super ugly. They are both ugly inside and out.

At least the producers won't have to shelve out big bucks on wardrobe.

Hello, R25.

It has gotten very little attention yet but FTX's general counsel, an ex-S&C partner, worked for years at the CFTC as Gensler's legal counsel. Reasonable suspicion he was hired because of that relationship even at the time FTX took him on.

Mayim (who I love) is way prettier than that rat toothed hag.

Mayim isn't ugly. If she would fix herself up a little She is somewhat attractive.

They've already been cast. And yes, Mayim as the girlfriend.

Tiffany Trump has been cast to play 'the girlfriend'. She has a new career - acting.

I don't understand crypto at all.

I mean he didn't spend all the money, it is just that it didn't really exist, is that it?

The money people invested is very real, it just disappeared in someone's pocket and the investors having nothing to show for it like property assets or material objects like a Beanie Babies collection.

Those involved in this scandal have so much money they can try to keep what happened under wraps, but it's hopeless. Everything will come out eventually.

NYC Mayor Eric Adams was all hyped on crypto. A year ago, he said he wanted it taught (???) in all public schools, and that he’d take his first paycheck in Bitcoin.

*sigh*

If only there had been some clue.

Hmm..

Why didn't somebody tell me crypto was risky?

SNL's Sarah Sherman can play the girlfriend. The girlfriend looks like she'd sound like SS.

R39 is a big fan of Shen Yun.

[quote]The money people invested is very real, it just disappeared in someone's pocket and the investors having nothing to show for it like property assets or material objects like a Beanie Babies collection.

Thank you for this ! So why would someone invest in this with there being no tangible assets to show for your investment ? That's what I'm not understanding. It's very confusing.

The FTX scam is almost as big as the scams perpetrated by the politicians he donated to.

You know inflation is bad when billions of dollars can't even buy ugly straight guys a decent piece of ass these days.

So he and the gf went to MIT. Her father was the head of the Economics Department at MIT.

Gary Gensler, current chair of the SEC, worked at MIT and got the Teacher of the Year award in 2019 when the gf's father was the head there.

Who could've ever imagined that trading thin air for ever-increasing amounts of money would end badly?

This is how Temasek, the Singapore government investment vehicle, backtracks its $275 million investment in FTX:

"It is apparent from this investment that perhaps our belief in the actions, judgment and leadership of Sam Bankman-Fried, formed from our interactions with him and views expressed in our discussions with others, would appear to have been misplaced."

FTX was involved with Fidelity.

The media seems to be not covering this story as much as they should. So much corruption.

The Spectator is Cunt Central.

Are his parents still holding classes at Stanford? Some reports they were in the Bahamas with him.

r45 hes trying 2 sell regular joe image 2 attract investors , so of course she looks like that, the bitches he bangs behind closed doors tho

R48 Echoes of Hirohito's famous, "the war situation has developed not necessarily to Japan's advantage."

Looks like those law professor parents are in this up to their necks. According to DM, their signatures are on deeds to a $16.4 million Bahamas vacation home bought for them by FTX.

And now -- now! -- they're trying to return it to FTX.

According to the father's Wikipedia entry, "He is considered a leading scholar in tax law and is an author of two tax casebooks including Federal Income Taxation."

I do believe that we are undergoing a transition to blockchain-based banking and finance systems overall. It will change how wealth overall is distributed throughout the Western world. Perhaps with a bittersweet outcome. It'll likely end the Middle Class but will allow more aware people that are currently middle class to pick up investing in crypto or the stock market. Money is numbers, money is intrinsically worthless in most places. Crypto is an attempt to remedy this situation. An attempt to make the rich richer without starting another Apple, Amazon, or Walmart.

If I had the money, I would be buying the dip right now. When the USD collapses, it will be a spectacular sight and probably what will lead to a nationwide depression and crisis. Fiat currency is on its way out. Cash will so not be King.

R56 uh, no.

R57 As FTX showed, even if only 1 percent buy into that bull, that's still an awful lot of money for the picking.

Posting articles from the extremely conservative and barley literate Spectator, OP?

Ok, Trump troll.

R59 = second-largest donor to the Democrats Sam Bankman-Fried.

Some things do not age well.

Is there any crypto related organization (bank, service, management) that isn't bankrupt or in crisis mode? They are all connected and all going under, right?

lmao

DAYUM that's a ugly bish!

Bernie Madoff in the digital age. His interview on GMA this morning....freak, geek and amazing how someone who can barely speak without "like" injected in every other word was worth 20 billion. These techno weirdos are dangerous and reckless. Good con artists..

He says it all would’ve worked out if he hadn’t filed for bankruptcy, huh? He just needed a little more time, huh? Kid opens his mouth, a lie comes out. He keeps talking, more lies follow. Plenty of marks believed him before, maybe some new fools will buy in now. Just keeeeep talkin’.

His lawyer must be fuming.

Is there a single crypto company whose income only relies on new customers buying in? Spoiler: Not a one.

I can’t believe anyone fell for this.

Some very wealthy and seemingly (should be more savvy) people bought into it. Just like Elizabeth Holme's scam that drew in powerful people, George Shultz, for example, and other wealthy investors. Heck, look at Bernie Madoff. The ultra rich can be suckers, too. It goes to show how easily people are led.

Can't understand a word he says. He must be brilliant.

I've tried to warn many people over the years. They didn't even entertain the idea that I might be right. You will reap that which you have sown, proud jerks. You have already! LOL

Every crypto company will suffer the same fate. Just a matter of time - or a matter of how many new customers they can keep getting to invest. I would suggest recruiting more big names for their advertising campaigns. Just don't tell them their asses will be sued after the pyramid implodes.

Have there been any successful suits against celebrities who served as pitchmen?

If huge celebrities were paid huge amounts (they must have been) they could be considered part of the team. And probably yes, but if not, there's always a first time and this would surely be it.

He was a political donations scammer as well.

Note carefully the hedge in his response to Sorkin:

“I don't have any hidden funds here."

What do their incomes rely on, R68? I don’t understand the workings of this stuff at all. I thought buy-in was what they relied on.

Not a great look.

In the end, the rich will eat themselves, because they create fucked up offspring who are destroying family fortunes through reckless investments and doomed-to-fail business schemes.

Get rich quick schemes don't work for most people in the long run.

He needs a makeover.

That moron Maxine expressed gratitude for his cooperation with their inquiries

A cunt's cunt, babbling for an autism defense and lying constantly on the - how many? - interviews he's crapped out.

He's agreed to testify before her committee on Tuesday Dec 13, but has warned that, "there is a limit to what I will be able to say, and I won't be as helpful as I'd like."

Who will play SBF in the movie? Sort of a can't-catch-me Ferris Bueller in him.

r20 r21 MR Online is Putin propaganda.

R39 Epoch Times is a far-right Trump ass-licker.

Michael Lewis is on the case.

IMO All cryptos are pyramids. Money coming in only one way: New people. Meanwhile, organizers taking (skimming) as much as they can from the top which they might call administrative costs. As to valuation of coins? BS.

Everything that involves more than one person is a scam, because "every man for himself", and that usually means screwing over others.

I do not know exactly how it's going to play out.

Except I feel pretty sure there's no way Mama Bear is going to stand by and see Sam head to Federal prison for 20 years.