[sgbuffett]

In one sentence SBF and his executives stole client money to cover losses in Alameda Research.

The long version includes using celebrities and YouTubers to advertise to lure ordinary people onto  their platform so they can steal the money to cover withdrawals and losses.

The punishment for this type of crime is life sentence as seen from Madoff and Worldcom trials. The executives supporting SBF will face 20yrs in prison but can negotiate down to 12 yrs if they offer to give evidence against him. I can imagine now all the young punks he hired are fighting now to give evidence and strike deals.

This is spectacular ....it took only 3 days to go from 40B to Zero.

If you have any money with crypto exchanges you should take all of it out before they collapse because not a single one is regulated.

[ysh02]

Will this saga affect SG banks and properties ? Those loss money may sell shares or property to cover losses I think only.