from Hacker News

Sam Bankman-Fried Interviewed Live About the Collapse of FTX

by shockeychap on 12/1/22, 7:18 PM with 1 comments

• by shockeychap on 12/1/22, 7:31 PM

  Ten minutes in, and I continue to be astonished at the kid-glove treatment he continues to get, even as the scale and brazenness of the fraud is known.

  They lent money - customer money - to Alameda using THEIR OWN TOKEN as collateral.

  They used messaging systems with auto-delete to communicate management decisions about expenses and money transfers.

  They didn't have proper tracking of their own bank accounts and funds.

  They used an auditor who was the "first-ever CPA firm to officially open its Metaverse headquarters in the metaverse platform Decentraland".

  Bernie Madoff wasn't this brazen, and he was described openly as a fraud and a criminal. Yet even now, in this interview, BY THE NEW YORK TIMES, he's politely asked a question - like how customer funds got lent to Alameda - he gives an answer that is obviously meant to confuse and deflect, and no follow-up is made.

  SMDH.