30 sounds a lot when Elizabeth Holmes and Sunny Balwani got 12 ish. I'm gonna go for, like a blindfolded man sticking a tail on a donkey, 20. Seems like a life-changing amount but also for someone that age is not.
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Bit belatedly, but yes, totally. That park was meant to be for the people.Originally posted by Lang Spoon View PostComment
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It is fiduciary money vs Theranos. You are nearer Madoff, which is why UA took the over.Comment
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This is why you guys earn the big bucks and I don't I guess.Comment
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I say 23.Comment
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The big wildcard is that everyone was against Madoff where some people seem to be captured by SBF being enigmatic still, rather than a grifter.Originally posted by diggedy derek View PostComment
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SBF was also a complete dick throughout the trial, which is never a good idea before a Federal judge and particularly a bad idea before Judge KaplanComment
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I guess the witness tampering and perjury aren't a good look either.Comment
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I'm not sure the "victims" who lost their tulip bulbs and now can't sell their tulip bulbs at a profit to other, more gullible, morons, going to the court to show the suffering they faced in losing millions in hypothetical tulip bulbs is going to be the thing that convinces the court to increase the sentence. I suspect these people are almost as unselfaware as SBF himself.
I'm going with about 18. More than Holmes and Balwan. But the victims are less sympathetic than Madoff's.Comment
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London had the 'mountain'...for a while.... That was not nothing.Originally posted by diggedy derek View PostComment
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25 years.Comment
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Some people stay boughtOriginally posted by caja-dglh View Post
And there is a tremendous amount of money to available to those willing to legtimise big name tokensComment
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Yeah that was horrendous. Temporary, though, and in a different park, with much less local residents.Originally posted by WOM View PostComment
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How long is he likely to spend inside? Not sure how a 25 year sentence translates to actual time servedOriginally posted by WOM View PostComment
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25 years. No parole (Federal crime)Comment
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So, if we're playing Price Is Right rules, and of course we are....Sporting wins it.Comment
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One can .accumulate "good time credit" in the federal system.
The maximum is something like 50 days per calendar year served.
Credits are awarded at the discretion of the particular prison, and it isn't unusual for "white collar" criminals NOT to get them.
No parole, but he could always be pardoned.Comment
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Good from Additya C on the gilded hangers-on taken in by the likes of Bankman-Fried.
Larry David has plummeted in my estimation too.A pudding-faced boy in baggy shorts says he wants to buy a banana with internet money and some of the greatest minds in finance go wild. Just remember: it is this same class of geniuses in bodywarmers who Keir Starmer and Rachel Reeves believe will finance our new green industries.Comment
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A few years back a golfing friend of my wife, who was working as a prison warden, was on of the driving forces for me to get citizenship because "it's so easy to commit a federal crime" and if you commit a federal crime as a green card holder, you're out of the country after your sentence and never coming back. Now I learn there's also no parole. I guess I'll have to be extra careful when on federal land.Comment
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People kept buying in long after this.
You start with a company that builds a box and in practice this box, they probably dress it up to look like a life-changing, you know, world-altering protocol that's gonna replace all the big banks in 38 days or whatever. Maybe for now actually ignore what it does or pretend it does literally nothing. It's just a box. So what this protocol is, it's called ‘Protocol X,’ it's a box, and you take a token. You can take Ethereum, you can put it in the box and you take it out of the box. Alright so, you put it into the box and you get like, you know, an IOU for having put it in the box and then you can redeem that IOU back out for the token.
So far what we've described is the world's dumbest ETF or ADR or something like that. It doesn't do anything but let you put things in it if you so choose. And then this protocol issues a token, we'll call it whatever, ‘X token.’ And X token promises that anything cool that happens because of this box is going to ultimately be usable by, you know, governance vote of holders of the X tokens. They can vote on what to do with any proceeds or other cool things that happen from this box. And of course, so far, we haven't exactly given a compelling reason for why there ever would be any proceeds from this box, but I don't know, you know, maybe there will be, so that's sort of where you start.
And then you say, alright, well, you’ve got this box and you’ve got X token and the box protocol declares, or maybe votes by on-chain governance, or, you know, something like that, that what they're gonna do is they are going to take half of all the X tokens that were re-minted. Maybe two thirds will, two thirds will offer X tokens, and they're going to give them away for free to whoever uses the box. So anyone who goes, takes some money, puts in the box, each day they're gonna airdrop, you know, 1% of the X token pro rata amongst everyone who's put money in the box. That's for now, what X token does, it gets given away to the box people. And now what happens? Well, X token has some market cap, right? It's probably not zero. Let say it's, you know, a $20 million market...
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"SBF may serve as little as 12.5 years, if he gets all of the jailhouse credit available to him," Mitchell Epner, a former federal prosecutor, told CNN.
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I would like to see his math, as the rules have changed at least twice since he was a prosecutor.
I wonder if he is including some kind of cooperation credit, which strikes me as very unlikely, or a reduction tied to restiution.
Last edited by ursus arctos; 28-03-2024, 19:29.Comment
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