“From 2019 through 2022, I was aware that Alameda was provided access to a borrowing facility on FTX.com, the cryptocurrency exchange run by Mr. Bankman-Fried,” Ellison said. “In practical terms, this arrangement permitted Alameda access to an unlimited line of credit without being required to post collateral, without having negative balances and without being subject to margin calls on FTX.com’s liquidation protocols.”
https://fortune.com/2022/12/23/alameda-c...x-lenders/
Now no more his gf so save her own skin and bahtoh sbf gao gao
1. ALISON admitted SBF gave her access to FTX funds by creating a special account under his name.
2. Gary Wang SBF ex roommate, said he did the programming to remove margin call alerts for Alameda account.
When crypto tanked Alemeda lost all the money no margin call alert and account holders money was wiped out.
SBF stole the money
Alison used stolen money to trade.
Gary just prevent the risk management system from being alerted.
Likely Alison and Gary have to do some.jail time but I don't think it will be long.
On the other hand SBF stole $8B ...this will be a jail for life crime.
Enron CEO, Worldcom CEO were jailed for life...their crimes were less than SBF ...they manipulated accounts...SBF stole.
(26-12-2022, 09:52 AM)sgbuffett Wrote: [ -> ]1. ALISON admitted SBF gave her access to FTX funds by creating a special account under his name.
2. Gary Wang SBF ex roommate, said he did the programming to remove margin call alerts for Alameda account.
When crypto tanked Alemeda lost all the money no margin call alert and account holders money was wiped out.
SBF stole the money
Alison used stolen money to trade.
Gary just prevent the risk management system from being alerted.
Likely Alison and Gary have to do some.jail time but I don't think it will be long.
On the other hand SBF stole $8B ...this will be a jail for life crime.
Enron CEO, Worldcom CEO were jailed for life...their crimes were less than SBF ...they manipulated accounts...SBF stole.
Enron case he was still in Pr school.
Temasek still egg in face?
Sbf likely get a gentle slap on the wrist
If he can prove no comingling