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Where Did FTX' Money Come From and Where Did it Go? - Day 11 SBF on Trial
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- Опубліковано 17 жов 2023
- Overpriced JPEGs - Courthouse Edition!
I was in court all day at SBF's trial where we heard from FIVE witnesses, including Professor Peter Easton who talked analyzed WHERE FTX + Alamedas' billions of dollars came from and WHERE it all went...
#sambankmanfried #sambankmanfriednews #sbf #crypto #cryptocurrency #carolineellison #nishadsingh
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Love the details. You deliver them better than anyone else covering this trial. Keep up the great work
Thank you so much!!
Thank you 🙏
Thank YOU
Been looking for this all evening. Thank you
Alright! Love your videos
Thanks so much!!!
You make this trial not only interesting but also very comprehensible. I look forward to reading your reports every night.
I'm so glad to hear this!! thanks for tuning in!!!
I’m watching this train wreck from the cheap seats. I love your summary of this trial. You have rare skills to be able to make thing clear to the simplest of your audience. You will go far. That’s guaranteed.
The fact that all the money Bankman Fried was spending had been taken from customer accounts is all the jury needs to know.
Let’s go!!! I look forward to these eps every night 🎉
That makes me so happy :)
The data presented by Prof. Easton clearly proved that SBF was using depositor funds like Monopoly money where he was both the Banker and a player. Withholding information from the other players was key for SBF to muddy the waters and his parents were at the heart of his subterfuge, even if they also didn’t have the full picture. Good job Carly.
I also feels like the money being funneled through their personal accounts was in part as a tax right off for donations.
yep
Your content is ten times better than any of the big news corps. Great JOB!!!!! AWESOME. Please do a video with Tiffany.
Thanks so much!!! Appreciate you listening.
🔥🔥🔥
This is some good info about the SBF trial. I was listening to Tiffany Fong until I found your channel. You give great well rounded info from the trial where others would Leave things out. Thanks for your work.
The custodian was there to make the totality of the google docs admissible, you need an witness who is familiar with the documents, their methods of storage, and assorted other details to admit them into evidence. That's basic records admissibility 101, if the judge got annoyed about that, then he's either very specialized, or very new.
No, the point is that the defense was willing to stipulate to admissibility. It wasn’t contested, so no foundation was required for admission.
I don't even bother watching any other coverage. Hands down the best!
I've been loving your coverage on sbf. You have my subscription and my heart.
Haha both are much appreciated! 😂
thanks
yesss!!!
Wonder if the parents were able to shield their property from bankruptcy like the dad discussed with others in an email that was released.
Maybe it does not matter because it will likely be clawed back to repay customers, but learning the funds for that house came from investors is interesting
Thank you for your service
Loving the videos! Great to see them all doing so well!
Thank you! Really appreciate it :)
Best coverage of the SBF trial bar none.
Thanks so much!!
Thanks a lot for your effort in attending these trials and updating us.
You do an amazing job covering this trial. I am so glad I found this channel through your trial coverage and look forward to see what you do moving forward. Keep up the amazing work!
Great summary, you have a talent for breaking down a complex situation into a clear outline. Have enjoyed several of your videos on this trial. Thanks!
These have been great. You've got a gift for this. Thanks!
thanks so much!!
Just want to say thank you, Carly. Every day during this trial, I wake up excited to hear from you. After the trial, I'd be interested in hearing what you believe a fair punishment would be for Sam for the crimes committed - regardless of what he ends up getting.
thank you Charles!! Glad you've been enjoying it :)
Thanks 😊 good coverage as usual 👍🏾
an excellent update. thanks
Thank you for your summary!! Makes it easy to keep up with it
Nice work here, providing some insight into a very complex set of circumstances. Thank you.
Appreciate the details you put for the trial recaps. Thank you!
Love the daily coverage. Thanks!
Thanks for covering this.
You have this amazing skills for describing what's going on in the court with so much details 💯🏅
I am enjoying your updates
I love seeing people crush it at something they’re passionate about, so witnessing your ability to distill a ton of detailed information down into such an engaging show has been a thrill to discover.
As much as I enjoy your interview episodes, you talking directly into camera, delivering quality information, while providing just the right amount of context & big picture overviews of what the prosecution is attempting to craft narratively, with call backs to other testimony etc?…..it’s been masterful.
That it’s such a damn entertaining a watch on top of that, is what really sets it apart tho. You make what could be mundane, feel riveting. Keep up the great work.
thank you so so much!! this means a lot!!
Can't believe there's no comments yet. I'm leaving this one to help the algorithm.
Good luck on your channel 😊
Queen
Your enthusiasm is infectious 🎉.
Imagine depositing your life savings into an exchange seeking to redefine the global economy. An exchange poised to lead in a new era of decentralized finance..... and then an out-of-shape gamer with an afro is using your funds to order Uber eats for 10 awkward kids in their twenties, all while living in a $30 million+ mansion (also payed for by your funds)
It really started becoming a monster when he bought out ftx shares from binance. That was around the $2 billion that he used to buyback ftx shares from binance. After that things kept on going downhill.
Love your work ❤
Very detailed reporting (better than coin desk, CNN etc & your easy on the eye 😉very cute 😊
Watching you from Sunny Gold Coast Australia 🇳🇿
I feel like I’m cheating on Tiff when I watch this channel 🤣
You do such a good job! I recently discovered your vids and I really really enjoy your content, energy, personality and attitude. You’d be someone I’d want to be friends with. Thanks for the video!
Thanks Carly.
Best summary
thank U
Thanks for the coverage! Will John Ray also be a witness in this trial?
so much wow 😳
Wow, this deserves more than 30K eyeballs considering the depth and your having to sit through all that testimony (hi! Choate '96). Shiboleths, vallies? His grammar should warrant another charge.
I like the way she talks
I think every dollar should be chased down and found by Forensic accountants
IIRC SBF's stake valued it at $40MM. $460MM flowed from Alameda to Modulo at JPM.
you're very smart 👍
GREAT BLUE EYES !
Legend
Funny about Professor Easton - the SEC fought to have his testimony excluded in the Ripple case.
What??! Proper video formatting to use full screen? Nice!!
Finally subscribing just for that haha
Excellent coverage new subscriber. Keep up the great work. I believe Sam's parents are corrupt as F.
9 billion dollars missing from bank accounts.. pocket change
you're quite a natural presenter, you've got an easy going approach which is refreshing. i hope you keep building up your channel 👍 and please don't sell out when you blow up :)
edit: i don't understand why you're promoting openseas and NFTs if you're called overpriced jpegs 🤔 i'll give this a chance for a while till i find out
I appreciate this!!
Google Sheets? They couldn't spring for a copy of MS Office?
Does anyone know if theres a site with all the evidence that is being presented ??
not publicly
@overpricedjpegs thank you! Love your coverage BTW. 👏
Custodians are the folks who work at a coronary who can come into court and say, yup, those are out business records.
How are you so jolly after sitting in court all day? ❤
Thanks for a great video!
Unfortunately, I get the feeling all these people that cut deals with feds and probably all of SBFs family, are going to still have 10s of millions when all this is done
Do you know if John Ray III is going to be called to testify?
great question. seems like he is not...
I'm curious about the origin of the funding for the purchase of the Robin Hood shares... The ones Bankman-Fried claimed were his own personal property...
The jury aint going to care about a mislabelled chart. Horrible day for the defence.
Cotton-eyed Joe!
Judge was comp,aiming that lawyers did not stipulate to the authenticity of the records and reserved all,other objections-typical for experienced trial lawyer and atypical for others.
Thank god for Modulo. The money was easily recoverable!
The recorrds costodian would have been ia important witness, if sbf had a better defence
So when he was spending all this money was he broke? Where did all of his money go? Did he have money and he just chose not to use it? Or was all of his money tied up in investments? Like why didn’t the guy use his own money? Was he broke? I know it’s a dumb question but I guess I’m wondering at this point what happened to his own 9 billion he should have had from profits? Or did I miss something??
Great content, but these videos embed WAYYYY too many ads
For those of us who don't know precisely how crypto is used (my basic understanding is that it is a conversion from cash to crypto to make digital transfers), what are legitimate uses of crypto versus criminal uses of crypto, and are the criminal uses worth the risk to legitimate uses? Because it is hard to feel sympathy for investors/lenders who were "inadvertently" promoting borderline criminal enterprises like Only Fans, and bona fide criminal enterprises like the former Silk Road (which sold massive amounts of drugs). Was Courtney Kenny (Only Fans model who murdered her boyfriend Christian Ombuseli) and her boyfriend invested in FTX?
I don't think even Tom Cruise could get Bankman out of this pickle.
Have Sam’s parents returned the $16MM property back to the Bankruptcy administrator?
Flow charts and all they needed was a Flobee to vacuum / cut Sam's goofy hair. Comment for the algo.
i know you and tiff spark a bowl after
Why didn’t FTX make any of their political donations using crypto funds?
Instead of donating dollars, donate Bitcoin.
I think they did do this a bit, but as someone who worked on a political campaign, it's often very hard for candidates to accept crypto because there are limits to how much someone can donate and the fluctuating crypto prices means theres a risk that if you don't convert it to fiat immediately (in which case you need to have a staffer on standby to do that) then the value of the donation can go up and exceed legal limits
@@TheCPRshow
Oh I completely understand why a _recipient_ wouldn’t want crypto - cash is king after all.
My question was geared to the proponents/cheerleaders of crypto, such as FTX.
Making donations in cash is kind of admitting crypto is not the free and easy method of money transfer that all these people champion.
It’s like going to a restaurant and the waiter says “if you pay cash, we’ll bring you a delicious steak. If you pay in crypto, we’ll bring a picture of a delicious steak that we may or may not bring you in the future, but only if we find someone willing to pay enough cash for this crypto and if we don’t get enough cash, we’ll bring you a banana, which may or may not be ripe…..”
You’re doing a great job bringing us daily updates on the trial! It’s not easy sitting through a day of courtroom antics, trying to make sense of the 30 minutes of actual testimony out of the 8 hour day! It is greatly appreciated.
Since there is much going on in the world at the moment, this trial is not getting the attention it deserves.
Not that I would trust the media to preset the actual, objective facts.
Why has the government not paid the money back they got from him
What's government got to do with paying any money from whoever "him" is? and who should government be paying?
It can be a tedious process, Dennis. Remember what built up to this mess, which has to be properly disentangled. It is the law firm handling the case that is responsible for restituting
The victimized customers- in accordance the SEC merely oversees.
#karlnespas
Your ads are even waaaay longer than any UA-camr I know of and that of Google’s (which u can skip in 5sec) and it’s so irritating if not skipped
she has like 9k subs, i'd take every ad i could get lmao
@@itemushmush am not saying she should not, just toke it done a little, some of us don’t have lifetime data bundle, unfortunately.
Are you seeing someone?
I wish i was half as eloquent as she is....
Sbf is screwed...that's the takeaway I'm getting from your videos....yeah?
it is very very hard to imagine a world in which he is not screwed. best they can hope for is that he's acquitted on one of the many charges he's charged with.
If i deposit $100 with a broker , i wanna see that $100 in my account with the broker visually and it better be accurate in the real sense i.e. my account must have the $100 digitally.
If that's not true then that is fraud.
So the Defence scoring points off the Professor mean nothing because they could not disprove that what's on the Accounts does not match the customer deposits.
Hence there is a fraud.
You are looking mighty perky after spending an entire day in court.
What happend with the white house $$ for ukraine
Madam, old guys are the smartest guys in the room, it’s called wisdom and you will understand when the wrinkles start showing up in your face and the youngster start calling calling you old. In fac, just wait until the AARP starts flooding your mailbox. It’s a real pisser.
I don't want to see Sam doing some back and forth. I'd rather just see him get cooked day after day and sit in jail for a long time.
Where are the laws regulating crypto? Is a crypto exchange like a bank account where it cannot be used to gamble on things?
I've not seen a detailed discussion of the terms of service. Apparently there was the spot trading account where FTX was allowed to trade, but the rest sounds FTX was supposed to just make it easier for customers to manage their own crypto "investments".
you don't really need any new laws on crypto to prosecute fraud like this one. SBF just pulled a good ole Ponzi with a twist. Most customers put their money into FTX for "holding" or for personal trading (meaning the customer themself would buy and sell various crypto coins when they felt like it), the fraud comes from the fact that Sam would just take their money the moment they put it into FTX and use it for the company expenses and "gambling" as you put it.
Coffeezilla and some journos interviewing Bankman-Fried did a good breakdown of how it happened. FTX offered two options to customers: A- you can put your money in and we don't touch it, B- you can put your money in and we'll "gamble" with it and will share the profits with you. In reality no matter what option the customer chose, Bankman-Fried would use their money how he wanted.
@@jonathancohen2351 We know this is a lie:
1. Customer accounts are fine. The accounts were not any where near fine.
2. Alemada did not have special privileges. But they did.
3. Balance sheets given to investors were manipulated.
All that is fraud. But I'm wondering about any terms of service. Most likely, there were none.
There are US laws for exchanges which is different from crypto. SBF under guidance from his parents set up a fraudulent money laundering machine in the Bahamas with little laws so they could launder money from Ukrainian to Biden and the democrats and from customers to SBF and his parents and entourage personal wealth. Gary Gensler was in on it with the backing of Warren wanting to use SBF to take out bitcoin.
Saying that Dr. Easton "knows how the blockchain works, even though he is a bit of an older guy" is the same as saying someone knows how a car works, even though she is a young black woman. Bias is bias, but I guess it's ok since he is an older white guy, and they don't count.
She said absolutely nothing about race, bc that would make no sense; your comparative is needlessly hyperbolic. It actually IS unusual for older folks to really know a lot about the blockchain. The vast majority do not. That's just factual, not agist. I am older and took no offense. If we're gonna be "bias cops," let's err on the side that is not gratuitously pedantic, but rather save it for actual culprits.
@@erinreilly5401 Well, I'm glad you're contented. It just makes my point.
Is this a trick question? Wtf
where'd my money go, cotton eyed sam.
are you elizabeth holmes' sister???
(not the fraud part of course)
lol you are not the first person to suggest this but definitely no relation
Well not really need to know but interested to know.
So ... he's a thief.
@6:00 as much as I despise SBF, his comments to the reporter are somewhat true. We do have to what what we say, else the woke nutters will attack us, for stupid shit like calling a man a man, or saying that a man can't give birth 😂. The part about regulators not protecting customers is certainly true. I mean FTX is a perfect example of this. Gary Gensler knew SBF and his faimly personally and has had meetings with SBF prior to the FTX collapse. Then there's the whole bitcoin etf debate. Congress is literally screaming at him to allow the etf and Gary just sits there with a smirk on his face. Corrupt Gary doesn't care about protecting retail. He is protecting those who line his pockets.
Ah! A very nice.... pullover.
You kinda look like Elizabeth holmes