from Hacker News

SBF to enter plea in FTX fraud case

by infrawhispers on 12/28/22, 6:55 PM with 22 comments

• by boeingUH60 on 12/28/22, 7:28 PM

  In five years, this guy founded a hedge fund that made millions of dollars, a crypto exchange that handles billions of dollars in trades, and became a mega-billionaire...and it came crashing down because he was secretly stealing user funds.

  I don't want to sympathize with SBF, but I'm wondering if this is a problem of someone that amassed excessive money and power so fast that it screwed with his neurons to the point of him thinking he will get away with an obvious con..

• by 71a54xd on 12/28/22, 8:01 PM

  If the sentence is under 30yrs I will fly to a major city to attend a large scale protest.

  Poor people go to prison for decades for stealing chips from gas stations... crime is wrong, but what SBF did to millions deserves a sizable sentence.

• by 1vuio0pswjnm7 on 12/29/22, 10:53 AM

  "Kaplan was assigned to the case on Tuesday, after the original judge recused herself because her husband's law firm had advised FTX before its collapse."

  Davis Polk may have represented FTX but it also advised BlockFi in BlockFi's transactions with FTX. Judge Abrams in her 23 December docket entry wrote that her husband's firm represented FTX in 2021 "as well as represented parties adverse to FTX".