Re:FTX to file for U.S. bankruptcy, CEO resigns
by mayankkaizen on Friday November 11, 2022 @10:48AM
(#33562269)
I am 100% sure he must have siphoned off some sizable part of his net worth in cash or other non-crypto assets.
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Re:FTX to file for U.S. bankruptcy, CEO resigns
by sgt101 on Friday November 11, 2022 @11:31AM
(#33562857)
He will have worked with some accountants and lawyers to move money into untouchable places. There will be someone employed to hold it for him, and dole it out in the future. Sure he will have to keep a low profile, but there will be resources.
He will probably have dispersed quite some sums to friends and family, some of that will come back to him in one way or another.
Finally, he will be able to go on the celebrity speaking circuit for quite a while...
Re:FTX to file for U.S. bankruptcy, CEO resigns
by tartoran on Friday November 11, 2022 @11:56AM
(#33563269)
> Finally, he will be able to go on the celebrity speaking circuit for quite a while...
Yeah, talking about the power of failure what he learned from it.
Re:FTX to file for U.S. bankruptcy, CEO resigns
by sgt101 on Friday November 11, 2022 @12:14PM
(#33563531)
Maybe this is good - maybe it will keep the lesson of crypto alive in the public mind...
Re:FTX to file for U.S. bankruptcy, CEO resigns
by onlyrealcuzzo on Friday November 11, 2022 @10:50AM
(#33562301)
Several million dollars is a lot of money - but not sizable compared to $16B.
If he siphoned off 10-20% ($160M+)- you can bet he's going to lose it in bankruptcy proceedings.
Re:FTX to file for U.S. bankruptcy, CEO resigns
by meetingthrower on Friday November 11, 2022 @11:41AM
(#33563009)
10% is $1.6B. Only needs 1% for $160M. .1% for $16M. Which is still generationally rich. Yeah, I think he would have taken that out right?
Re:FTX to file for U.S. bankruptcy, CEO resigns
by systemicdanna on Friday November 11, 2022 @11:38AM
(#33562967)
10-20% is not $160M, it's $1.6B.