Topic: 28 march 2024 : final verdict for SBF. Did you lose funds ? (Read 292 times)

According to the news he will receive his sentence today, however there is a big difference between the sentence given and the actual time spent behind bars, so even if he was sentenced to 40 to 50 years on jail, it is probable he will only spend a decade or two at most there, which is in fact a long time, but when considering the amount of money he stole and all the people that lost their lives because they saw their dreams ruined because of him, he is the kind of person that should spend the rest of his live in jail.

It would be so depressing to be sentenced to that many years in prison not knowing if you will ever even live that long let alone confined and isolated from everyone and the entire world. I did not personally use ftx but I have heard of what the victims have gone through and the compensation they expect to receive but didn't so if the court decides on this punishment then so be it.

I did not notice that FTX ranked up to a second biggest exchange but I knew they did stupid policy on their exchange in like 2020 or 2021 when transaction fee on Ethereum blockchain was very high and even very expensive, FTX exchange did not charge their users any withdrawal fee on ETH blockchain. They waived withdrawal fee for users while no user asked their exchange to do that.

I did not know how SBF and SBF came to do that policy for many months as they actually had to pick ETH from their exchange treasury to cover transaction fee for their users.

That policy is only one of any stupid things did by SBF and FTX before their collapse.

You know, this is strange:  I don't watch TV and thus missed all of those advertisements for FTX, and for whatever reason I'd never even heard the name FTX until the scandal broke.  Talk about living under a rock, eh?

And after it was clear that there were a lot of people who were going to lose all of their funds they had on FTX, I wondered how many members of the forum used the exchange (which is precisely the subject of this thread, and it doesn't look like there are a lot of people who are going to cop to getting scammed).  Given the enormous user base here, it seems very probable that a large number of members did get scammed, but who knows?  I like the question being asked here, but I don't think it's reasonable to expect victims to publicly announce that they got robbed by Sam Buttknocker Fried.

Needless to say, I did not.

They are arguing he can't go to prison because he's autistic?? Pretty sure if someone is able create and run a company worth billions of dollars your autism is not so great that you can use the disabled excuse to get out of prison lol


I was always confused by who was actually using FTX. By the time I had even heard of it, it was already supposedly like the second biggest exchange in the world. And while it was operating I never once saw anyone online say they use it. As an American, I always hear about people using Coinbase, some using Kraken and Gemini, and Binance obviously the most used internationally, but I never once saw someone say they use FTX. Just seemed weird to me how it came out of nowhere and supposedly blew away all other exchanges except Binance by the time I'd even heard of it and didn't seem to actually have a big footprint in the community, at least as far as I could tell online, like since it was supposedly so much bigger than Coinbase after like only a year or two of operation you'd think Americans in the crypto community would be talking about it all the time, but the only time I saw people talking about FTX is when they were talking about SBF himself or just like how valuable FTX had become, nobody actually saying they used it. And then suddenly it was imploding due to fraud and misuse of funds. Just a really bizarre situation from start to finish.

What I find amazing is now well over a year after FTX's collapse, Congress hasn't bothered making any regulations for exchanges. People always talk about crypto regulations are coming, well regulations for exchanges to make sure they are on the up and up running their businesses and holding people's money is the obvious regulation that is needed for govt, but nothing was done after FTX lol.

No, i never used ftx and i do not store my coins in centralized exchanges or in custodial services, i am always in control of my funds stored in my self custodial wallet.
They are paid to defend him and get him the best possible sentencing, so i can understand what they are doing, but i don't think the court is going to consider this too much. Sbf was found guilty of fraud and misappropriation of customers' funds, and the creditors will be following this case closely, they would go mad if sbf gets a lighter sentencing on this grounds, which i don't think he will.

Even so, I think it's quite impossible for SBF to have acted alone or only with his few accomplices (Gary, Caroline ...). There are also bankers involved, of course. I wonder whether the political parties that received money from SBF will return it. I don't have this information, but the charge of illegal financing of political parties has not been retained.

I've also heard this news, the compensation is really unfair for the victims but think positively, it's better for them to compensate a little than for everyone to lose everything. At least FTX did many times better than Mt.Gox, who only made promises and more than 10 years have passed but their victims are still waiting.

I cannot deny that I am also using centralized exchanges but luckily I have never used FTX. But even if I used it, I wouldn't store too many of my assets on it. Centralized exchanges are not places to store crypto assets, they are just places to trade, and buy & sell when we need them.

i have never used this ftx exchange, but i have heard news about this ftx several times. and i think that sbf as the ceo of ftx is the most shameless person in the crypto world, because up to now he has stated that he is innocent and does not want to admit his mistakes. in fact, he seems to be hiding under the armpit of his parents who are lawyers to protect him from the accusations that attack him. he should be embarrassed that he is that old, but he acts like a child and runs away from his responsibilities.

There is no option for "I neither lost fund on FTX, nor withdrew before the crash" in the poll..
For if there was an option like that in the poll, then that is the category I fall in, I will count myself lucky for I actually have an FTX account, but I've never for once been moved to deposit funds there and buy, I've used several other exchanges, even far lesser ones, but for some reason, never used FTX, maybe if I did, I would have been one of those who would lose money there, the same way I lost on Bkex.

Concerning the final verdict, I would say that let them throw him in jail and let me rot there, the lawyers pleading for a lighter judgment for SBF, did SBF consider the consequences of what he did to investors funds before he did it, people lost their entire live saving on that exchanges, so many people commited suicide because of what SBF did, such a person as SBF deserves to die by hanging, because he is not just a criminal, but a murderer.

By the way, I feel this thread should be in the reputation board.

AM not part of the loss with FTX, many have been affected already that uses this exchange and i don't know if this bull season would have been the only option they had to make recovery in case of those that are still into bitcoin without  giving up ever since their last experience with the exchange, it takes courage and determination to be in lost and still go ahead in making investments in cryptocurrency, i don't know maybe all these victims are the ones that never know the difference between CEX and DEX or they just decided in taking the risk.

Yes, and I lost a lot.
I will admit that I lost a lot. That was the first time to lose in a centralized exchange. Before I was using Cryptopia but before they went bankrupt I already moved out my funds, so I am very lucky.
I am still hoping for the refunds on FTX, I hope it will be refunded to all of us who are affected, it's huge.

The exchange is not that patronized here like the Binance, Kucoin, Counbase and others, so I don't think plenty of people from my side were that affected but even though we don't have account or use the exchange, his stupid action affected us all, he is yet reason why Bitcoin tank to $15k, he is the reason why Solana was troll for a whole year, he is the reason why Solana liquidity were drained because everyone left the chain disappointed, Sam will crumble for making people lose source of livelihood.

I wish that 115 years can be extended more and they should not make it lighter for him so that other people that are fond of doing the same thing in the crypto space and has been hiding will leave here or stop forever so that crypto space will be safe for everyone to invest there money without any fear of been manipulated.

FTX is a terrible case that causes losses of many people money and if victims receive their compensation, they will receive cryptocurrencies with price in November 2022.

It is a bottom of bear market and what you receive with that past rates will like a massive loss compares to current prices in a bull market. It is better if you have compensation but even so, it will still be a loss for you. You will not receive full amount of your capital stored on FTX exchange before the collapse.

Don't store your coins on centralized exchanges to avoid similar collapses like FTX. Many exchanges are dead.
Reminder: do not keep your money in online accounts
Exchange graveyard

No, I never lost my funds at FTX because I only used FTX to buy ETH before ,  and luckily before the incident I hadn't made transactions there for quite a long time,
For friends who still have funds that are not free there, stay patient, everything will come back if it is part of your results.

If you wanted to really lie and deceive people in the first place, you'd already got the plan to steal the money of many people and of course it would be a part of your plan to lie to them and make them think that you're a legitimate one and that you're not going to run with their money, that's how many charlatans and thieves of the largest scale would do it though, they make you let your guard down by building trust and then in one fell swoop, your money's gone. People should've made some questions already when the talks of bitcoin giving out interests are being talked about, that would've made them uncomfortable and most likely some of those people would likely pick up on it when it was raised as a question but it seems that nobody did and they end up with their money being stolen, I guess the allure of profits from your bitcoin is just too strong that people didn't question the red flags.

SBF is not in the Bahamas anymore. He was arrested there and went to prison and then after a few days he said he wanted to be tried in the US instead. Most likely the prison conditions were horrible and hence why he wanted to go back to the states.

All claims will be paid out in full. The market rose so much that they are solvent. Everybody will be made hole. However if you had non stablecoin assets like BTC or SOL you will be paid at the Nov 22 prices which is like $16K instead of $68K. It’s locked in fiat and hence why many are upset.

FTX came out of nowhere under the guise that their CEO was such a brilliant trader that he made billions trading Bitcoin and started the world’s biggest exchange seemingly overnight. It didn’t pass the sniff test from day 1 and that’s why I never had an account. Pretty much any entity willing to pay you an interest rate on Bitcoin to store your funds is a scam. Nobody can promise interest on Bitcoin because it is a limited resource. As the saying goes, if you don’t know where the yield comes from, you are the yield.

If the evidence is irrefutable, then what does SBF’s pleading guilty matter? In any case, we should wait for the verdict to know for sure how all this will end.

This sounds like a very interesting way to justify himself and avoid punishment.

And this sounds even more interesting. So, "Where's the Money, Lebowski Michael Lewis?"

SBF’s guilt will be determined by the decision of the court, not the writer.

Fortunately, I am not one of them, because the good old rule “Not your keys- Not your coins” has been familiar to me for a long time.

Survive, you said? Isn't it obvious that this is a death sentence? This could just be because many countries are against death sentences, so pronouncing and sentencing someone for life won't make any sense in the ears of many, so they gave a 115-year sentence, which he will probably not be alive to finish. Adding to the fact that he should be around 30-35 years old before this, imagine how many years he will be by that time. It's obvious he is going there to spend the remaining time of his life.