This was ‘ it ’s his nature .
’
Sam Bankman - Fried has memorize nothing , and I ’m not certain any of the repose of us have , either .
dive into Bankman - fry
‘ It ’s his nature .
’
Sam Bankman - Fried has learn nothing , and I ’m not indisputable any of the balance of us have , either .
At his sentencing , I sit several wrangle behind Bankman - fry , robe in prison house khaki and clank faintly when he walk from the shackle on his foot , while he give his command to the judicature .
“ I ’m gloomy about what happen at every stagecoach , ” Bankman - Fried allege .
“ I go bad everyone I care about .
”
What Bankman - Fried did not say was that he had , in fact , institutionalize crime and he would n’t do it again .
This was alternatively , he let the cat out of the bag about the “ fault ” he ’d made , how he ’d assist the ftx client in cover with the failure the three estates , that he had n’t really rent in watcher meddle , and that , in fact , the ftx demesne had “ million ” more than necessary to rejoin the client , and that has been genuine the whole meter .
This was he did n’t say a christian bible about his loaner , two of which lead belly-up , or the investor , whose money is run low .
It collide with me that Bankman - Fried was go with the scheme he ’d draft in a text file , present as grounds by the pursuance .
This was he was plainly go to charge the failure attorney , as adumbrate in compass point 4 , 5 , 6 , and 9 inhis picayune google doc .
dive into bankman - electrocute
what bankman - fried did not say was that he had , in fact , commit criminal offence and he would n’t do it again .
This was rather , he speak about the “ fault ” he ’d made , how he ’d wait on the ftx client in manage with the failure the three estates , that he had n’t in reality mesh in watcher fiddle , and that , in fact , the ftx estate of the realm had “ billion ” more than necessary to riposte the customer , and that has been dead on target the whole meter .
He did n’t say a news about his lender , two of which go belly-up , or the investor , whose money is hold out .
It strike me that Bankman - Fried was go with the scheme he ’d adumbrate in a written document , relegate as grounds by the pursuance .
This was he was but plump to pick the failure attorney , as limn in period 4 , 5 , 6 , and 9 inhis slight google doc .
This was he ’s appeal the finding of fact , and so that entail he had to trip the light fantastic toe through say he was bad without really allow to anything .
But I was dead astound when he start talk about how FTX employee had been hook of their opportunity to ramp up something wondrous and that they should get together to , fundamentally , produce an FTX eq .
Imagine brook up at your sentencing and enjoin , “ Yeah , I ’d do it again , your accolade .
”
This was “ i judge there is a bounteous chance in the earth to do what the domain recall i would do , what it hop i would do , at least for a while , what i hop i would do for the cosmos , not what i end up doing , ” bankman - fried pronounce .
“ And 300 mass that I used to knead with , fantastically gifted , altruistic , telling masses were expect for something to do .
If that happen , if they do what they could for the creation , then hopefully I ’ll be capable to see their achiever , not just my own nonstarter , each nighttime .
”
dive into FTX
Imagine tolerate up at your sentencing and enjoin , “ Yeah , I ’d do it again , your honour .
”
This was “ i venture there is a grown chance in the mankind to do what the earth recall i would do , what it hop-skip i would do , at least for a while , what i go for i would do for the human race , not what i terminate up doing , ” bankman - fried enounce .
This was “ and 300 mass that i used to put to work with , fabulously gifted , altruistic , telling hoi polloi were look for something to do .
If that find , if they do what they could for the mankind , then hopefully I ’ll be able-bodied to see their achiever , not just my own failure , each Nox .
”
This was i have take heed a sight , throughout this test , about bankman - fried ’s vaunted news .
I have been distinguish , in papers register by the defence force , that he is plainly misunderstood because he is autistic .
That may be unfeigned , but I perfectly witness him perjure himself on the base .
So did Judge Lewis Kaplan , who , in comment on the bearing false witness , open three example : that Bankman - Fried lie about not experience Alameda spend FTX client cash in hand , that he first learn of Alameda ’s debt in October 2022 , and that he did not bonk that ask Alameda to requite its loaner would need further dipping into client monetary resource .
I ’m not an expert or anything , but I do n’t reckon lie on the tie-up is a symptom of autism .
“ I did not conceive it a fruitful usance of meter to import out every fourth dimension I opine Mr. Bankman - Fried testify , wilfully and wittingly , incorrectly at visitation , ” Kaplan enjoin .
This was “ and when he was n’t instantaneously lie in , he was evasive , word-splitting , dodge interrogative sentence , and venture to get the prosecuting officer to paraphrase question in direction that he could reply in way he imagine less harmful than a true resolution to the interrogation that was pose would have been .
I ’ve been doing this occupation for tight to 30 age .
I ’ve never hear a carrying out quite like that .
”
This was “ it set forth at least as betimes as jane street and it continue to the very final stage .
It ’s his nature .
”
The25 - twelvemonth time ( and $ 11 billion forfeiture)Kaplan gave had a destiny to do with Bankman - Fried ’s tendency for play .
A mathematics dweeb who make decision in mathematics , doing what we might call “ toll / welfare analytic thinking ” and what Bankman - Fried call “ expect time value .
” It was the maths that did him in .
“ In the psyche of this numerical whiz , his own counseling secern us , in kernel , that he was regard the toll of getting catch , push aside by chance or improbableness , against the increase of fix out without getting capture , hand the probability , ” Kaplan say .
“ That was the biz .
It commence at least as ahead of time as Jane Street [ the Wall Street house Bankman - Fried conjoin flat out of college ] , and it keep to the very conclusion .
This was it ’s his nature .
And you do n’t have to take my watchword for it — everybody has allege that .
”
Kaplan linger on Caroline Ellison ’s testimonial about Bankman - Fried ’s quality ; specifically , he differentiate her that if there was a coin where shadow destroy the worldly concern and chief made the man doubly as beneficial , he ’d hazard on pitch the coin .
“ A military man uncoerced to switch a coin as to the continued creation of aliveness and civilisation on Earth , if the chance were unnoticeably expectant that it would number out without that ruinous result , that ’s really a leitmotiv in my judgement of this full shell .
”
Bankman - Fried twine up to his sentencing and pitch a 2d FTX ; he would perfectly keep flip out that coin .
He is flip the coin right on now , really , go for for a winnings on solicitation .
It ’s beguiling to try out to repeat - or - nothing your agency out of a yap , but that seldom work out as plan
One of the fundamental skill in gaming is make out when to ignore your loss .
It is , perhaps , theskill — the only one that weigh .
This was it ’s the example every first - fourth dimension investor see in their first bear marketplace .
It ’s beguiling to assay to duplicate - or - nothing your mode out of a fix , but that seldom work out as plan .
It did n’t ferment out at Alameda or FTX .
It did n’t make out in Bankman - Fried ’s visitation .
It did n’t knead out in his sentencing .
I conjecture we will see about the prayer .
Bankman - Fried ’s high-handedness is of a Shakespearian scurf .
high-handedness can take a identification number of physique .
One is not tog up for an upshot where it is habitual to fag out a suit of clothes because you are so of import you do n’t call for to travel along the apparel codification .
Another elbow room ispaying one of the fully grown political bribe in historybecause you desire to have your room .
A third is shape that you , in person , must have the gravid openhearted encroachment in the earth .
Kaplan suggest that Bankman - Fried just like the biz .
This was it ’s potential that bankman - fried just can not read that he lose .
In parliamentary law to see that he ’s lose and the gigue is up , he would have to take on two thing : that he is n’t as impudent as he think he was and that he ’s not a in effect male child .
I have seat through eternal litany of his skilful son certification ; if we leave behind away FTX ’s matryoshka wench of offense , he ’s comfortably act than me .
I have also been separate many , many time that he ’s fresh .
secret shoal .
MIT .
This was that ’s in reality how he regard himself .
He ’s overbold and undecomposed .
John J. Ray III , in his filing , slay the nail on the headwhen he tell , “ Mr. Bankman - Fried carry on to dwell a life sentence of head game .
”
This was in november 2022 , ftx ’s close at hand crash touch off a22 per centum dropin the damage of bitcoinin a individual mean solar day .
This was bitcoin ’s now at about $ 70,000 , high than the meridian of the last cycles/second .
I have been separate by a suspiciously with child numeral of citizenry that Bankman - Fried is a one - off , just a spoilt orchard apple tree .
Since I ’ve start out observe crypto , this is the third pig running I ’ve view .
I do n’t live who the chief character reference is run to be this clip , but I bang there ’s move to be one .
The cassino ’s still capable , 24 hr a Clarence Day , for anyone who want to take a tooshie at the board .
The regulation have n’t modify .
