That was the most interesting and intelligent conversation I’ve heard in ages! It’s such a refreshing change from the superficial 5th grade level discussions that I see in mainstream media sources, including Bloomberg and CNBC. I especially liked how Molly would briefly pause when asked a question she hadn’t fielded before, and then articulate a very thoughtful and non-trivial reply. That’s a really good skill to have. I have no idea what your academic backgrounds are, but you remind me of the type of classmates I used to have as a grad student at a top 3 university. Cheers!
Molly is great, I haven't seen anyone who covers crypto who has the educational background, researching skills, and wit/writing ability. Not that it's relevant, but I think she's really attractive too.
140 seems to be the lucky number. Episode 140 and, “He never said he couldn’t recall during his direct examination, but it happened over 140 times during his cross-examination.” That was the quote from the Prosecutor’s closing.
There have been over 140 large scale armed conflicts globally since WW2. Doesnt really fit, but just happens to be something I was looking into today lol
In Bankman-Fried’s defense as to “I don’t know why he thought [purposely being obtuse] would work in court?” I mean, it worked to get him billions of dollars. He built his crime on being obtuse. But another plus to the defense calling him out on those tactics, because it underlines to the jury that he’s actively wasting their time. And their LOSING money at this point. Being paid below the minimum wage.
Damn, never even thought about it that way about the jury. He literally can't stop himself from scamming people even just 24 hours ago. SBF has absolutely no thought for anyone except himself.
"I sent you a book-length letter! I wore my Hokas in a kind of solidarity with Sam! How can you not believe that he's just a goofy kid-genius who got out over his skis?"- ML 🙄
Hello to you both! I realize it is a day late but I am 64 and I found y’all b/c of the FTX Outrageousness! I just wanted to say how much I enjoy your channel!! I have BINGED about 13 episodes since Friday!! BTW I am embarrassed to say I didn’t even know what a blockchain was!!!!🙄🙃
OMG you just made this old lady’s day!! You both are so bright and I have had to Google various terms but I have learned so much! I watched one of y’all’s videos with Burrito the cat but I loved that both of you young men talked about that regulators don’t want to rock the boat so to speak! To this very old lady a lot of all of this is from very few ppl that work for the Feds have INTEGRITY!! That term seems to not matter anymore which I find Scary!! I realize this is WAY to long but again Thank You Both!! PS I also have a cat named Winnie!!
He couldn't help himself from acting like a smug asshole even when decades in prison depended on it. Not to mention giving interviews when he should have known he'd be facing criminal charges. Thankfully nerds with zero street smarts make terrible criminals.
And they made SBF look serious. Looking at you Paradigm, Sequoia "Sam Bankman-Fried Has a Savior Complex", etc, and the media like CNBC. Ladies and gentlemen I present you with the "J.P. Morgan of Crypto", the "world's first trillionaire", the "Effective Altruist" who will be earning to give and changing the world.
Conspiracy? This level of fraud is only possible with negligence from authorities. This negligence is only possible for individuals of a certain background.
Much like Elizabeth Holmes, she defrauded Betsy DeVos and a number of high profile investors and and promoters High up in government. If we're keeping score, this puts Bill Clinton at 2 for 2.
Great interview, guys. I've been trying to follow this entire situation and this was very insightful. Would love to see the three of you, along with Tiffany Fong, do a co-lab after sentencing is announced in March. Maybe a deep, multi-hour discussion between the four of you to finally put a cap on this case. 🙏
Guilty on all counts! Couldn’t have happened to a more deserving person lol. But I wonder if they’ll charge his parents for their part? I appreciate the clarifications of legal and regulatory issues, since I’m not American ❤
Prison in March Rich's case being Switzerland, where he fled to, before he could be indicted. "Fun fact": Rich founded Marc Rich & Co (Glencore today) Switzerland's most valuable Company and the world's largest commodities trader. edit: I confused it. Glencore is the largest company by revenue. The most valuable Swiss company is Nestlé.
Sam bankman fraud. I've seen it before but now it makes sense in view of the scheme was running. Hey, don't you know I'm a genius? People have moved on to the next question by now! Deferential treatment since high school.
When you hear about Sam taking the stand you don't believe it and then the madman goes and does it, he knows he is going down and is doing this for the memes, you guys wouldn't get it.
Guilty - and looking at 110 years (of course appeals to come).... I've been following this space for a long time and it turns out it's not physically possible to get sick of watching crypto bros face-plant!
One of the tenets of cross-examination is not to ask a question unless you already know the answer. The prosecution knew exactly what it was doing in this case. Sam would give his usual evasive word salad answer to a question and then was confronted with evidence contrary to his answer. A text book case of effective cross-examination.
Marc Rich wasn’t “released” as he was never imprisoned since he fled And might add there are literally hundreds of examples of donors being given pardons/amnesty but you are correct that in most cases they are still wealthy or families are although a blagovich or silver are good examples of those w/o money who were pardoned for political reasons
For someone who is a "genius" he sure evades most questions and don't remember half the shit that went on at his business how convenient right. 😂😂😂 lock his ass up for a very long time.
44:23 "If Sam leaves jail tomorrow [...] nobody wants to work with him" - - > I don't know, it wouldn't surprise me if a16z gave him a few million dollars for a new venture.
I can't understand this Sam dude... Why doing any of this in the first place? Just run the stupid exchange, collect the spread and do nothing more. Earn more than enough. Greed? Money went into his brains and he can't control it? Just enjoing being careless and "above everybody else". I can't understand his lack of fear nor even understanding of what are the consequences. Looks like he thinks everybody else is just naive.
The most astonishing thing is that this guy, who seems to have the fraud sophistication depth of wet tissue paper, was able to get huge investors shovelling money into his furnace as fast as they could. It really shows how greedy they all got.
Hopefully his co-conspirators get in trouble as well. At this point despite him being at the mantle it's not fair for him to assume all of the jail time.
Six weeks felt like two days...information wise...i feel sorry for the investors..but i watched the circle(prison therapy) 90 percent of them had a terrible youth or had mental problems...or both,so i feel sorry for them
for people like sbf and his ilk... who think that with all this 'new tech' stuff they can get themselves though anything with their 'super' intelligence... but what they don't realize is that when you but through all the algorithms, blockchains, risk engines, and so on... it basically is a situation where the owners/founders of a financial trading institution used the money of their customers for their own purposes... gee... now in those terms, the world has been dealing with these kinds of crimes for over a couple thousand years now... just sayin...
by the way... if you really interested in opening some pandora's boxes... look into his parents activities ... look at sbf's father employment contracts with sbf's companies... and also what his mother's involvement with certain political actions committees... you'll find some really interesting storylines to follow...
molly ✅ bennett rant ✅ burrito cameo ✅ sbf has now been found guilty on all charges ✅✅✅ great episode, guys!
Between the SBF verdict and the SafeMoon indictments, I figure you two might need a coffee tonight.
Thank you
Coffee or *Coffee* ?
That was the most interesting and intelligent conversation I’ve heard in ages! It’s such a refreshing change from the superficial 5th grade level discussions that I see in mainstream media sources, including Bloomberg and CNBC.
I especially liked how Molly would briefly pause when asked a question she hadn’t fielded before, and then articulate a very thoughtful and non-trivial reply. That’s a really good skill to have.
I have no idea what your academic backgrounds are, but you remind me of the type of classmates I used to have as a grad student at a top 3 university. Cheers!
That “answer the question you wish they asked” is a quote from Robert McNamara. There’s something fitting about that.
Guilty! Guilty!
Btw, I love Molly. No idea how she spends all day in court and records hours going through it on stream afterwards!
Sounds like she has a lot of passion
Molly is great, I haven't seen anyone who covers crypto who has the educational background, researching skills, and wit/writing ability. Not that it's relevant, but I think she's really attractive too.
140 seems to be the lucky number. Episode 140 and, “He never said he couldn’t recall during his direct examination, but it happened over 140 times during his cross-examination.” That was the quote from the Prosecutor’s closing.
There have been over 140 large scale armed conflicts globally since WW2. Doesnt really fit, but just happens to be something I was looking into today lol
HE WAS FOUND GUILTY LETS FUCKING GOOOOOOOOOOOOOO😆🔥🔥🔥🔥
Christmas came early!
The arrogance to think media evasion tactics will work in court was astounding.
people get used to talking their way out of stuff and lose touch with reality
In Bankman-Fried’s defense as to “I don’t know why he thought [purposely being obtuse] would work in court?”
I mean, it worked to get him billions of dollars. He built his crime on being obtuse.
But another plus to the defense calling him out on those tactics, because it underlines to the jury that he’s actively wasting their time. And their LOSING money at this point. Being paid below the minimum wage.
Damn, never even thought about it that way about the jury. He literally can't stop himself from scamming people even just 24 hours ago. SBF has absolutely no thought for anyone except himself.
He is now Sam Bankman-Jailed
perfect fucking timing let’s fucking gooooo
Thanks
Great timing guys!
Perfect timing, guys! Even Burrito showed up knowing today is a special, red-letter day. Literal chef's kiss!
15:00 if there ever was a time for an unhinged Bennett, it is today
This is still pretty composed for me
31:29 - Okay, nobody's allowed to use the word "Genesis" anymore for anything.
What a wonderful surprise to see this in my feed. Thank you for the episode
guilty on all 7 counts! you cut the stream 5 mins early :)
What a saga this has been. Good on the jury. Good reporting all around, pat yourself on the back guys. Well done.
Huge round of applause for Cas and Bennett!!! 👏👏👏🎉🎉🎉
U guys are awesome !!!! Thanks for covering this ❤❤❤
So I’ve been listening for a while now via podcast and I wasn’t even aware that you also did this on RUclips. Didn’t know you were such cuties! 😍😍
Molly is the GOAT! Hodl cascoin 💎👐
Michael Lewis is going to be so mad at this jury, lol.
"I sent you a book-length letter! I wore my Hokas in a kind of solidarity with Sam! How can you not believe that he's just a goofy kid-genius who got out over his skis?"- ML
🙄
Guilty on all counts, love to see it. hope he gets the maximum sentence
A bit late, SBF just convicted on all counts, and both types of money laundering.
🎉🎉🎉
Hindsight is great ehh?
Probably SBF after the verdict: Wait if you let me talk to another investor I can fix this 😂😂😂
I don't even need to watch this to know it's going to be fun (but I AM going to watch it). :)
Bennett's rant at 14:50 is honestly one of the best things i've ever heard 😂😂
Thanks for all of these great recaps, and I'm also excited to hear from Liz Lopatto next time! The coverage of this case has been great all around.
Love the Expos hat...
Hello to you both! I realize it is a day late but I am 64 and I found y’all b/c of the FTX Outrageousness! I just wanted to say how much I enjoy your channel!! I have BINGED about 13 episodes since Friday!! BTW I am embarrassed to say I didn’t even know what a blockchain was!!!!🙄🙃
OMG you just made this old lady’s day!! You both are so bright and I have had to Google various terms but I have learned so much! I watched one of y’all’s videos with Burrito the cat but I loved that both of you young men talked about that regulators don’t want to rock the boat so to speak! To this very old lady a lot of all of this is from very few ppl that work for the Feds have INTEGRITY!! That term seems to not matter anymore which I find Scary!! I realize this is WAY to long but again Thank You Both!! PS I also have a cat named Winnie!!
Sam's deflection technique works well in the real world but not in the court room.
Man, I loved the expos... That logo was so ahead of its time
Gorgeous cap
He couldn't help himself from acting like a smug asshole even when decades in prison depended on it. Not to mention giving interviews when he should have known he'd be facing criminal charges. Thankfully nerds with zero street smarts make terrible criminals.
He is a giant narcissist so not surprising. Plus his mommy and daddy told him he is extra special 😂
Bennett going insane about SBF's defense made my day 🤣
SBF Pardon Conspiracy Theorists forget that he also made a lot of important people look very foolish.
And they made SBF look serious. Looking at you Paradigm, Sequoia "Sam Bankman-Fried Has a Savior Complex", etc, and the media like CNBC. Ladies and gentlemen I present you with the "J.P. Morgan of Crypto", the "world's first trillionaire", the "Effective Altruist" who will be earning to give and changing the world.
Conspiracy? This level of fraud is only possible with negligence from authorities. This negligence is only possible for individuals of a certain background.
Much like Elizabeth Holmes, she defrauded Betsy DeVos and a number of high profile investors and and promoters High up in government. If we're keeping score, this puts Bill Clinton at 2 for 2.
Great interview, guys. I've been trying to follow this entire situation and this was very insightful.
Would love to see the three of you, along with Tiffany Fong, do a co-lab after sentencing is announced in March. Maybe a deep, multi-hour discussion between the four of you to finally put a cap on this case.
🙏
Guilty on all counts! Couldn’t have happened to a more deserving person lol. But I wonder if they’ll charge his parents for their part? I appreciate the clarifications of legal and regulatory issues, since I’m not American ❤
Liz lopatto after the guilty verdict seems like the perfect denouement to this whole mess
Prison in March Rich's case being Switzerland, where he fled to, before he could be indicted.
"Fun fact": Rich founded Marc Rich & Co (Glencore today) Switzerland's most valuable Company and the world's largest commodities trader.
edit: I confused it. Glencore is the largest company by revenue. The most valuable Swiss company is Nestlé.
so funny. thank you so much.
4 1/2 hours of deliberation is all it took.
Guilty on all 7 charges
On the witness stand he was suffering from terrible Samnesia.
Molly!!! I'm following her coverage as well
btw CAS I SAW YOU IN THE BLOOMBERG DOC AND SCREAMED AT MY TV
Molly's great. Thanks CCC.
Ladies and gentlemen
We got him.
Bennett are you OK? I've never seen you this animated I think this trial is breaking you
Another banger :)
Cas be like
"how is that not bank fraud?"
And, turns out, it was! I bet sam wished he could stop taking questions from Sassoon by the end of that day
Sam bankman fraud. I've seen it before but now it makes sense in view of the scheme was running. Hey, don't you know I'm a genius? People have moved on to the next question by now! Deferential treatment since high school.
Where is Sam Trabucco and what is likely to happen to him? I assume he will get hammered.
When you hear about Sam taking the stand you don't believe it and then the madman goes and does it, he knows he is going down and is doing this for the memes, you guys wouldn't get it.
Guilty - and looking at 110 years (of course appeals to come)....
I've been following this space for a long time and it turns out it's not physically possible to get sick of watching crypto bros face-plant!
How much will his attorney's fees come to and who's going to pay it?
One of the tenets of cross-examination is not to ask a question unless you already know the answer. The prosecution knew exactly what it was doing in this case. Sam would give his usual evasive word salad answer to a question and then was confronted with evidence contrary to his answer. A text book case of effective cross-examination.
Marc Rich wasn’t “released” as he was never imprisoned since he fled
And might add there are literally hundreds of examples of donors being given pardons/amnesty but you are correct that in most cases they are still wealthy or families are although a blagovich or silver are good examples of those w/o money who were pardoned for political reasons
For someone who is a "genius" he sure evades most questions and don't remember half the shit that went on at his business how convenient right. 😂😂😂 lock his ass up for a very long time.
The EV on Sam taking the stand was excellent for all of us in the peanut gallery. Great coverage throughout Cas & Bennett, and shoutout to Molly!
omg bennett go off
It’s my specialty
Ggggggguility!
Cass, our cats are near twins, down to the white legs. Your little lady kitty is _gorgeous_
YAY GUILTY!
Timing!
Bonus special cat guest as well
And he's guilty! 🎉🎉
This girl has quite a good memory! It’s like we where there with her haha😊
Yooo its molly
now this is over, up only
Already announced his guilty verdict 😂
Not quite terra luna timing but still nicely done
44:23 "If Sam leaves jail tomorrow [...] nobody wants to work with him" - - > I don't know, it wouldn't surprise me if a16z gave him a few million dollars for a new venture.
SBF was found guilty!
pack watch!
RIP BOZO
4:13 glad the judge is being proactive with mis/dis-info.
Guilty on all counts. Like 120 years
I can't understand this Sam dude... Why doing any of this in the first place? Just run the stupid exchange, collect the spread and do nothing more. Earn more than enough.
Greed? Money went into his brains and he can't control it? Just enjoing being careless and "above everybody else". I can't understand his lack of fear nor even understanding of what are the consequences. Looks like he thinks everybody else is just naive.
❤Molly❤
Some of my favorite tech analysis people here
The most astonishing thing is that this guy, who seems to have the fraud sophistication depth of wet tissue paper, was able to get huge investors shovelling money into his furnace as fast as they could. It really shows how greedy they all got.
a pardon from Biden, Trump, or whoever will be in the White House is not necessarily excluded, he gave real money to a lot of people.
When he shows up to prison get him a lock in a sock at 2am.
Glad they finally got his ass. Hopefully they'll eventually catch Cas for his billion dollar manipulation of CasCoin.
I'm reminded of the trial in the movie Bananas (1971). I think Woody did better on the stand.
The pardon theory falls down for many reasons, not least because there's no gratitude in politics - as Cas notes he has no more money to give later!
Hopefully his co-conspirators get in trouble as well. At this point despite him being at the mantle it's not fair for him to assume all of the jail time.
I wonder, if Sam was 40, if he had 10 more years of political donations, then would a presidential pardon be on the table?
Not going infinite after all huh? 😂
Love the way criminals point the finger to the cronies that helped him steal money from customers...
This Molly white is very beautiful.
Yeah, I’m sure she could’ve sold you whatever
It's over
"30-year-old child"
That seems to be the motto of my generation.
Glad he got found guilty, now I hope they through the book at him.
Sounds about yt
Six weeks felt like two days...information wise...i feel sorry for the investors..but i watched the circle(prison therapy) 90 percent of them had a terrible youth or had mental problems...or both,so i feel sorry for them
Unfortunate timing, lol
“He answers the question he wishes they would ask”. When people do that shit it is soooo annoying lol
Ahahahah amazing
Why have we heard so little from victims? The Bernie M case was all about people who lost everything.
for people like sbf and his ilk... who think that with all this 'new tech' stuff they can get themselves though anything with their 'super' intelligence... but what they don't realize is that when you but through all the algorithms, blockchains, risk engines, and so on... it basically is a situation where the owners/founders of a financial trading institution used the money of their customers for their own purposes... gee... now in those terms, the world has been dealing with these kinds of crimes for over a couple thousand years now... just sayin...
by the way... if you really interested in opening some pandora's boxes... look into his parents activities ... look at sbf's father employment contracts with sbf's companies... and also what his mother's involvement with certain political actions committees... you'll find some really interesting storylines to follow...
It sounds like dep v heard not in the trial, but in the way, he is trying to say everyone else is lying but me
Wow, Molly and Caroline Ellison.... night and day!
This crew needs to thoroughly research the Marc Rich scandal before commenting.
Totally no recall...the movie