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Being stuck in the primitive Bahamian prison he was ..... that was incentive enough to not fight extradition. Now he's out on bail, back in the good ol' USA.

>A judge kept secret that two of Sam Bankman-Fried’s closest associates had turned against him so the cryptocurrency entrepreneur wouldn’t get spooked and fight extradition from the Bahamas, according to court transcripts made public Friday.

I like the way this judge thinks!

He's out on $250M bail now. So he's in the US and not locked up.

He better enjoy the Trial part of this life, its likely the last time he'll be out of jail for a while. He made the golden mistake of robbing people much richer than he was, in public.

After watching his interview with Stephanopoulis, it just didn’t seem like the guy was very bright OR taking the advice of lawyers. But, you never know…

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In the US, with his accounts frozen, wearing an ankle monitor, with not only all of his money but his parent's money too locked up in a bail agreement, and his face plastered everywhere so even if he managed to go on the run everybody would recognize him immediately.

But sure he is "free".

Being free but in a shitty personal situation are not mutually exclusive. And he doesn't have the freedom to run and avoid consequences. No one has that freedom.

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You still really want to sit down and shut up. Trying to play dumb or not.

homeboi will never be released

I'll be shocked if he doesn't get Epsteined. He cost a lot of important, powerful people a lot of money.

Sure but the entire internet had it figured out when his gf was spotted getting coffee.

I can't fathom it mattered that they didn't announce the plea. Not only should he recognize how deep the shit he's in, but Ellison was spotted in NYC last week looking for a bus to throw him under.

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I will take that over being "free" in jail waiting conviction any day of the week.

Nah, he doesn't hsve blackmail that makes his silence preferable

I think he's one of those types that's smart but not like limitless smart yet they don't realize it.

It's a bold strategy, cotton

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Dude played League of Legends during business meetings. (While staying hard stuck in bronze) He was not the brightest tool in the shed. His intelligence was projection. People think cryptonerds are wizards for some reason.

How do they know he can't access keys to some stolen funds stashed somewhere? I would have thought anyone facing the rest of their life in prison with potential access to hundreds of millions of dollars is a flight risk regardless of conditions.

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To think this THIEF had access to the highest echelons of the US government and financial services industry is pretty damning. Hope he squeals, and brings down the bigger crooks who were involved in this Ponzi scheme with him.

All crypto is a Ponzi scheme. It will all fall apart now that the dominoes have started.

Now that we’ve seen a major crypto business go under surely crypto will cease to exist.

edit: /s

But he has access to hundreds of millions of not more in crypto.

I've said this in other threads, but let's consider the case of Carlos Ghosn. While already being guilty of a crime, he was able to hire an ex Navy Seal strike team to smuggle him out of Japan into a country without extradition. His crime was also 1/100th the size of SBF.

There's very much a non zero chance he skips bail with his parents to the UAE or Qatar or whatever. Multiple crypto people have pulled disappearing acts.

They don't. Even money says he's skips town then mysteriously """dies""" building an Effective Altruism Orphanage (tm).

Eh, the guy's a fraud and asshole, but he'd probably pretty smart. You don't build a company as large as he did, even with fraud without being pretty smart. And he probably would have gotten away with it for a lot longer if he wasn't so damn greedy.

They don't but if he tries he'll fuck himself even harder. The hidden money proves intent, as does running, and it's not really that easy to "disappear".

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But that hair cut. Thats a Crime in itself so the hair will be recognised by FacialRecognition cameras..software wwd for next 70 years His hair cant hide🤭

So she wont putt her hand up and say ...i learned a new sentence...Stop Loss...just before the Buss runs him over

He's going to prison for the rest of his life anyway, might as well have a go.

Isn't it amazing how young and brainless so many of these big crypto scammers are? SBF, Satish Kumbhani, Razzlekhan, Do Kwan, etc.

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I think it’s more likely that he gets put under someone’s heal and they grind that stolen money out of him bit by bit.

Crypto will continue to exist and will continue to be used to scam and dupe thousands

Let's see if it plays out.

We won’t need crypto for that though 🤷🏻‍♂️

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Lol this has been said continuously since 2009, yet here we are. It’s bigger than ever. Crypto is here to stay whether you like it or not.

Exactly. Scams have existed forever regardless of the tech.

Yeah I'm basically saying he's not any more or less intelligent than your typical tech bro.

He's smart enough to know what he did was fraud/illegal, not nearly smart enough to get away with it. I think his ego was probably inflated to hell from all of the attention and press so he probably believed the wonderkid persona.

Its almost like thats why we have rules, laws and regulations.

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Been lots of scams that have gone a lot longer than that

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You realize saying “crypto is a scam” is like saying “the internet is a scam” because one person made a malicious website. Makes no sense.

There are no hard assets securing any crypto. It will all eventually fall apart, there is no way it can't.

But I've only got a degree in finance from Mount St Mary's University so I'm sure I'm wrong, go put everything you've got into it.

Appealing to your "finance degree" is pretty sad and just tells me you're most likely an insecure new grad or someone who is doing nothing with their finance degree. I've been in the ethereum space for ~6 years now. Demand for ETH comes from demand to use applications or contracts on the network which has continued to grow steadily every year. Every few years there is a new innovation which brings a huge spike in usage due to these applications (and all the get rich scams that come with it). Supply/new issuance is intentionally dynamic, depending on the usage of the network. At times of low usage, supply becomes inflationary and directs this value to the 500k+ validators. At times of high usage, the supply becomes deflationary due to the EIP-1559 base-fee burn.

As long as there is demand to transact or use an application/contract on ethereum, the price will never go to zero. In the long term, after the network and market matures, the price will stabilize.

Note that fiat USD and all modern fiat currencies are also backed by nothing. Their demand comes from two places: the government requires tax payments in their flavor of fiat and their relative stability/utility compared to other assets.