News for hackers. Stuff that matters.

A comment on Sam Bankman-Fried found guilty on all charges. Parent comment

Re:Sam Bankman-Fried found guilty on all charges by jojobas on Friday November 03, 2023 @04:11AM (#38125841)
That's the thing - he successfully ran a lot of involved arbitrage and other legitimate trading tricks before he decided to run the confidence game. Unlike Madoff, he could have retired before the FTX scam with "buy a jet every year" kind of cash.
[ Parent | on HN ]
Re:Sam Bankman-Fried found guilty on all charges by RandomLensman on Friday November 03, 2023 @06:10AM (#38126590)
Is there actually good visibility on the profits of the earlier trading?
[ Parent | on HN ]
Re:Sam Bankman-Fried found guilty on all charges by jojobas on Friday November 03, 2023 @07:59AM (#38127413)
There's indication it was in the higher 9 digits.
[ Parent | on HN ]
Re:Sam Bankman-Fried found guilty on all charges by jandrese on Tuesday November 07, 2023 @09:45AM (#38177331)
He found a niche in a Japanese exchange that was difficult to break into due to onerous banking regulations. Made a nice little chunk of change but it was a small potatoes thing. The numbers only look big because it was early days of crypto and the inherent inflation was through the roof.
[ Parent | on HN ]