Monday, June 24, 2024

Sam Bankman-Fried Might Go to Jail for a Very, Very Lengthy Time

by Jeremy

Right here’s the factor: It appears unattainable that FTX might have afforded these investments, together with its different huge expenditures, merely from three years of alternate income and its personal enterprise capital inflows of $1.8 billion. Possibly among the FTX Ventures stakes used pretend FTX cash like FTT, so there’s extra work to be executed. However quite simple arithmetic strongly suggests not solely that FTX was dipping into buyer funds, however that the folks working FTX couldn’t probably have been unaware of that reality.

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