I finally dipped my toe in, putting some “play” money into FBTC. Down 7% in 24 hours, lol.
5 Likes
Big week
SBF sentencing predictions
- 0-4 years
- 5-9 years
- 10-20 years
- 20-30 years
- 30+ years
0
voters
btc booming means a lot more customers will be getting paid back, not sure if the judge will take that into account but thats the argument his lawyers are making.
even before the runup investors were probably going to get most of their money back because FTX had a huge stake in Antrhopic. a lot of investors sold their FTX claims for like ten cents on the dollar, whoops.
honestly I really hate this results oriented thinking, it’s the “well yeah I drove home with a 0.24 BAC but nobody died” argument (same argument trump is making in the NY fraud case)
Kind of true, kind of not, depending on how you look at it. Bankruptcy claims are frozen at the dollar value of the claim as of the bankruptcy date. So if you are owed 1 btc, you’re owed the bankruptcy-date value of $16,871 or whatever, rather than the current bitcoin value of $70,000. So yes, the higher bitcoin goes, the more likely customers will get paid back their bankruptcy-date value. But also, the higher bitcoin goes, those customers recover a smaller and smaller percentage of current bitcoin value.
1 Like
Live thread of sentencing here. May want to bump up my estimate from 10-20:
https://twitter.com/innercitypress/status/1773340043744010640
Defense attorney:
I don’t think that’s compelling!
Edit: still not compelling:
Tom Brady and Katy Perry catching strays now.
Edit: SBF now speaking and is, unsurprisingly, not very articulate.
Thats really funny. I thought of a different beer ad.
Here’s to you, Mr. Awkward vegan math nerd with an off the charts intellect.
3 Likes
20 years for SBF. Edit: I guess it’s 25.
30 years is more than I was expecting tbh. SBF got what he deserved. Very much not LOLLAW for once.
1 Like
25 years, and he does 85% so will be out in 21. that’s about as tough as can be expected for a financial, white-collar crime. other than Madoff most of these other scammers like Elizabeth Holmes usually get like 10 years max.