SBF Pleads Not Guilty But He's Totally Guilty
Sam Baloney-Fried
FTX crypto exchange was supposedly well-run with $1b revenue in 2021
Then FTX imploded and CEO SBF is implicated in criminal activity
SBF has engaged in tactics to stay out of jail and polish image as hapless
It does really feel like the guy is getting special treatment for some reason
Former FTX CEO Sam Bankman-Fried (known as SBF) has just pleaded not guilty to federal fraud charges in New York.
The reaction from many is astonishment.
The FTX saga is one of complete absurdity. A crypto exchange valued at $32 billion with over 3 million users signed up completely vaporized overnight.
And it doesn’t feel like SBF, the person responsible, is being punished. Because this guy has gotten real good at manipulating everyone.
It’s important right now to focus on what SBF has DONE instead of believing any of what he’s SAID.
Staying out of actual jail
From the time of the November 11 FTX bankruptcy, it took Bahamas authorities about a month to get SBF into a jail. And because he’s vegan and takes stimulants through a skin patch, he got special treatment via the courts.
If an asteroid hit Earth and disrupted modern civilized comforts, I’m pretty sure SBF would eat animals and live without uppers. It’s like the dude was in a waiting room before his $250 million bail and house arrest.
Relentless engagement with media
Attorneys often advise clients not to talk to media. When convicted crypto felon Charlie Shrem got nabbed, for example, I could never get him to chat with me until after his prison stint. Because lawyers told Shrem not to talk.
SBF isn’t following that playbook. He’s talking to the New York Post. Talking to author Michael Lewis. Talking to writer Tiffany Fong, which has been misconstrued as some kind of romantic liaison, ridiculously. House arrest has, in fact, enabled this guy.
Hapless or a psychopath?
People not close to crypto believe SBF is a clueless young crypto savant who made a mistake. I just can’t buy that argument because I spoke on a panel with this guy at a crypto event way back in 2018.
People, he was saying all this world-changing Super Slurpee bullshit EVEN BACK THEN when Alameda was just a small crypto fund. Before the FTX crypto exchange launched in May 2019. He’s been practicing for a while. Not hapless. Psychotic.
Baloney time
SBF’s gonna do whatever he can to stay out of jail, so he can engage with the media. He's fooling people into thinking he’s a clueless cryptopian with a heart of gold. I don’t buy it. Anyone who’s ever worked with or for this guy should be very afraid.
He’s going to rat on everyone to save his ass. This dude has done bad stuff. Wire fraud. Securities fraud. Money laundering. SBF should be in a jail cell and fed baloney sandwiches with gen pop because it’s the only way he’s gonna learn his lesson.