Fun

Sam Bankman-Fried’s bankruptcy narrative revealed in new court documents

News Feed - 2024-03-17 02:03:05

Ana Paula Pereira6 hours agoSam Bankman-Fried’s bankruptcy narrative revealed in new court documentsA Google document attached to the U.S. government sentencing memorandum reveals “random probably bad ideas” Sam Bankman-Fried had to repair his public image.2255 Total views3 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksU.S. prosecutors have filed new court documents revealing Sam “SBF” Bankman-Fried’s plans to restore his public image after the collapse of FTX in 2022.


According to a Google document attached to the government sentencing memorandum filed on March 15, Bankman-Fried listed 19 “random probably bad ideas” intended to change the social media narrative of the crypto exchange’s dramatic downfall.


The ideas included initiatives such as “go on Tucker Carlsen, come out as a republican,” leaking documents to the press, criticizing lawyers, and being seen as “extremely pro crypto, pro freedom,” along with promoting “a strong anti-Binance message.”Google Document from Samuel Bankman-Fried’s Email Account. Source: Southern District Court of New York.


The document is part of the government’s argument supporting a 40 to 50-year sentence for the former FTX CEO, who was convicted last November on fraud and money laundering charges. According to the sentencing memorandum, the Google document demonstrates a “significant likelihood” that Bankman-Fried would commit another fraud if released back into society at a young age.“That is not just speculation. In the days following FTX’s bankruptcy, and even after the defendant had been indicted, he mused about launching “Archangel LTD,” which would be an alternative to FTX’s bankruptcy and would result in the re-launching of an exchange.”


The suggested sentence is significantly lower than the maximum possible term he faces under U.S. sentencing guidelines, which could result in a 110-year sentence. In contrast, Bankman-Fried’s defense counsel is seeking less than seven years in prison, according to a memo filed on Feb. 27. District Judge Lewis Kaplan is scheduled to deliver his decision on March 28.


According to the government, Bankman-Fried’s sentencing submission already shows attempts “to reframe his crimes as mere mistakes or misunderstandings” — a reference to letters submitted by his defense in support of a reduced sentence.“The point is that the defendant is motivated to launch his redemption narrative and has already been thinking about how to spin it. It is realistic that he will settle on a narrative, lean into it, and convince other people to part with their money based on lies and the promise of false hope.”


Nearly one year after FTX’s collapse, a jury trial concluded that the former executive was guilty of all seven charges brought against him by the U.S. government. Bankman-Fried pleaded not guilty. FTX’s new management recently disclosed plans to fully repay creditors based on the price of crypto assets at the time of bankruptcy.


Magazine:Can you trust crypto exchanges after the collapse of FTX?# Law# Business# Bankruptcy# Sam Bankman-Fried# FTXAdd reactionAdd reactionRead moreOpenAI’s Mira Murati is “not sure” where Sora’s training data comes fromBiden pressured to intervene in US citizens detention by NigeriaNigerian SEC seeks to raise crypto exchange registration fee

News Feed

Former Monero Developer Spagni Released From US Prison, Pledges to Address Fraud Allegations
Former Monero Developer Spagni Released From US Prison, Pledges to Address Fraud Allegations Former Monero developer Riccardo Spagni has been released from a U.S. prison where he r
Ankr expands Bitcoin liquid staking tokens to AI blockchain Talus
Zhiyuan Sun4 hours agoAnkr expands Bitcoin liquid staking tokens to AI blockchain TalusThe Bitcoin LSTs can be used to power the Talus blockchain"s virtual artificial intelligence assistants.5845 Total views25 Total shar
Morgan Stanley’s Executive Likens Bitcoin’s Resilience to Kenny Who Dies in Every South Park Episode
Morgan Stanley"s Executive Likens Bitcoin"s Resilience to Kenny Who Dies in Every South Park Episode Morgan Stanley Investment Management’s Dennis Lynch, says that bitcoin&#
SharkTron – DeFi Project That Implies Complete Autonomy
SharkTron - DeFi Project That Implies Complete Autonomy PRESS RELEASE. SharkTRON decentralized platform has set the goal of maximizing the DeFi TRON potential. T
Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket
Google Trends Data Reveals Searches for "Banking Crisis," "Bank Runs," Skyrocket Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google T
Turner Wright4 hours agoUS House Financial Services Committee leadership takes opposing sides on the PayPal stablecoinRep. Maxine Waters said she was “deeply concerned” about PYUSD without a proper regulatory framewo
Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply
Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with
XRP Price Bullishness Continues, Analyst Shoots For $1.9 With Next Leg-Up
Este artículo también está disponible en español. The XRP price is  consolidating just below the $1.4 mark,but the technical structure continues to show bullish strength
Uzbekistan increases fees for crypto operations
Amaka Nwaokocha9 hours agoUzbekistan increases fees for crypto operationsThe National Agency for Prospective Projects anticipates the revenue generated from the sector to double once the new structure is in place.7741 To
TXSE ‘upstart’ stock exchange could become a crypto-friendly challenger
Andrew Singer10 hours agoTXSE ‘upstart’ stock exchange could become a crypto-friendly challengerWhile there are many challenges for a new stock exchange in the U.S., many observers are optimistic about what it could
WEMIX Delisting: South Korean Crypto Exchange Upbit Accused of Instigating Token Removal
WEMIX Delisting: South Korean Crypto Exchange Upbit Accused of Instigating Token Removal According to the CEO of Wemade, Henry Chang, the South Korean cryptocurrency exchange Upbit
EasyA announces 1 million devs in ecosystem
Vince Quill1 hour agoEasyA announces 1 million devs in ecosystemThe Web3 educational platform also announced a Polkadot education initiative to help onboard new developers to the blockchain network.153 Total viewsListen