As a user of quick books, i am sure it is a sound programme but i very much doubt it is suitable for this type of an organisation. Surely you would have bespoke software suitable to the industry, and for one with such a complex structure. Shoot me down in flames if i am wrong, but i have worked in Re-insurance and all the companies had industry specific software tailored to their specific needs. Modern society has become far too flippant which allows fraudsters like SBF to take advantage. When i see him being interviewed i do not even see an intelligent person but a maths geek.
The reason for the media tour happening is that Sam was not afraid. He figured he had paid for enough protection on the political side. In his mind he was never going to jail.
@@TheCPRshowI think the pay-off may have worked for some of them. Want to talk a bet on how long before Caroline Ellison gets a new name and witness protection instead of prison?
I'm increasingly surprised SBF plead not guilty. Just the production of multiple false balance sheets alone shows consciousness of guilt and deliberate deception; that should be enough to put him away by itself. All the other stuff reinforces how consistent the effort to deceive was.
@@JR-yx3poMummy & Daddy are in this up to their necks! I thought it was very interesting that his father apparently believed he should be paid 1mill a year for what...errr advising part time?! However Caroline Ellison the full time CEO of Alameda had a salary of 200k....
His subordinates plead guilty for light sentences because they provided evidence and testimony against Sam. Sam on the other hand has no one higher up he can flip on. When your guilty the only hope you have is trying to get one juror to decide in your favor or get the case thrown out on a technicality.
I think Sam really thinks that he didn't do anything wrong, and the stuff he did do was for the benefit of the world. Giving money to political campaigns, and to charities, etc. I think he also thought that if he did get busted that he's donated and given money to the right people that they'll be able to get him off the hook. Plus, I think that sam thinks he's smarter than pretty much everyone. He might be book smart, but he definitely isn't street smart at all.
I just discovered channel in my feed by accident last week and subscribed immediately. Such intelligence, energy, organization, wit, humor and also well edited. It's like music for my brain. Hopefully after the SBF trial, Carly can cover topics other than just Crypto /NFT's. Maybe a future podcast about other financial frauds or true crime cases? Whatever it is, we just need more!!
I’m a trial lawyer and love watching your videos everyday. It’s great to hear the perspective of a non-lawyer living through a trial…especially on technical subjects. Keep up the great work!
This girl is genuine, original and authentic! There's something about her personality that makes, whatever topic or subject she will talk about, so much more interesting. This girl is going to be super famous and popular in the future. I actually feel lucky to be her 7.9k subscriber, who just discovered her a few days ago actually. Carly, keep doing what you're doing! We hope your happiness, joy, and passion continues to grow and succeed, doing whatever it is you love doing. Hey, no matter happens from here into the future, always remember to be yourself- and don't ever change for anyone else but only for yourself- Sincerely, your new social media fan and unconditional supporter!
This is too much praise. If you give someone this much praise, they start to believe that the sun shines out of their butt. This is not a good situation. We do not want her to turn into SBF. Am I wrong?
Anyone who asks their lawyer to find a legal basis to justify their bad behavior is almost certainly guilty. And any judge or normal person sitting on a jury is going to see that for exactly what it is. Turns out Sam is not a financial savant philanthropist. He's just a plain old crook - the same kind that tries to scam your grandparents on the phone. Just with bigger aspirations.
So he probably got all the legal justification from his father and his mother told him the ethical justification but his parents are totally not involved in any way in this “ non profit” organization.
I wonder what Joseph Bankman's reaction was in that meeting where Can discovered that they had been using customer funds? What he as shocked as Can was? Or did he know all along? Can't wait for the parents to be indicted and the dirt that's going to dig up.
Interesting. What surprises me most about all of this is how venture capitalists and finance RUclips channels (yes, FINANCE RUclips channels) couldn't tell this was a scam. I have only worked in finance briefly and it isn't my field at all, but even I could tell, when they're offering ridiculous rates of returns on investments (when savings accounts and bonds were barely paying over 0.5%), offering way more to RUclipsrs than they would normally receive from a video sponsor. You'd think that they would have done some due diligence, other than "Are you a scam?! "No" "Okay then!". Honestly, a lot of those finance RUclipsrs shouldn't even be showing their face now after what they did, but apparently all is forgotten and forgiven. "How could we have known that yet another crpyto ponzi scheme was a scam?!". Yeah.
Most crypto enthusiasts do say "not your keys, not your coins". Also "Treat exchanges like public toilets, do your business, then leave". The whole point of cryptocurrency is to be in charge of your wealth. This leaves mainly speculators and people that shouldn't have been in crypto keeping their wealth on the exchange.
What surprises me is that you are surprised. Look at all the Crypto-"Investors" and CRYPTO RUclips channels (this being one of them) and only a very tiny fraction of them tells you that it’s a …
Captivating, entertaining, full of contagious enthusiasm. Brilliant analysis presented in perfect English without cliches or useless metaphors. Presents several intriguing analytical threads, while keeping the focus on the main narrative. And, an absence of the smirky schadenfreude that normally pervades topics like this one. Thank you so much for this series! In a word “WOW”!
Good Report! --- Great title: "Hey Lawyer, tell me why my use of "Customer Funds" was LEGAL." --- Interesting to hear that Sam DIDN'T KNOW about Alameda's "Special Privileges", that Sam was USING to get EXORBITANT "LOANS".
I very much appreciate that you refer to him, the defendant, by his full and legal name. Buy four going his self branded, media nickname, it shows you have a level of integrity, and dedication to reporting the facts of this case that many other reporters in your field do not. This is how you gain loyal followers, and you have another one in me. It is most appreciated.
There's what we are looking for, His father Knew he was aware he was in the room, he was helping young Sammy STEAL customer funds, or at least the father knew things were SHADY.
U have a bright future... I would watch u for hours. U communicate so well 🇰🇪👍. Got out of crypto a day B4 the trial. My account was consistently under attack. Scary stuff . It's all a sophisticated Ponzi.
Btw, how are you only getting 637 likes for this upload. In many cases your content is better than the main stream media outlets. Why don't you have a million views???
I always have to double check that I didn't accidentally increase the video playback speed when you're talking. But I'm not complaining, great training ;-)
I recall reading there’s a principle of “attorney-client privilege” in both civil, administrative and criminal proceedings. However, my understanding it is intended to allow an attorney to have frank discourse with their clients and thus provide effective representation; my understanding is that there are exceptions one of which involves fraudulent activities. My experience (in regulation development for a Federal executive agency) is that attorneys generally only need advise their clients about the legal risks involved in a particular course of action . Sounds like the former GC of FTX did so and had no operational control over what was done perhaps against his advice. But testifying SBF was told there was no applicable legal theory to justify FTX actions provides grounds for a jury to conclude that SBF acted to knowingly & willingly broke the law.
I just watched the congressional hearing on FTX that was done 10 months ago. One of the topics there was about violation of campaign finance laws, is the court case related to that congressional hearing?
14:02 - Nishad testified that in December 2021, that he began altering spreadsheets to hide losses. Nishad looked like his soul left him because he knew he was caught. Nishad didn't learn only in September 2022. Nishad is trying to re-write history.
It is the potential customer's prerogative to insure that he or she is not duped into investing in financial products that are as traceable and valid as air bubbles- the latter can burst at any time and nothing may come of it. Investors being sold air bubbles as such, is nothing new, and continues to go on. FTX, lead by SBF, was called on the act of pilfering, otherwise the show would be going on- Know that, other firms play a variant of the game in question. You should not be taken with someone's alleged mental acuity if it leads to your financial ruin as it connotes of sociopathy. #karlnespas
When an idiot kid is the manager of a candy store, he just could not help himself with all the candies at the store with all his buddies watching and helping!
14:02 - Wrong! If Nishad Singh is to be believed that he didn't learn about stealing from customers until September 2022, then why did Nishad go back into customers accounts in October 2022 & steal another $3.7 million to buy a house in Orcas Island, Washington with 10 acres?
I guess the difference is that fiat currencies would be deposited in a bank account, and the bank is allowed to lend the money out. People generally wouldn’t be too concerned about that. There are custodian banks that don’t lend the money out, but that is a lot more expensive.
Excellent low down. Richard Hart (Hex founder) looks like he is gearing up for a court case. he is tweeting lots of legal jargon. Big following and a eccentric character. Maybe next up?
why weren't the witnesses like nishad singh, caroline ellison, etc in the current court case not present during the congressional hearing that was done 10 months ago? can you do a comparison of the investigation before and the investigation now? like what did we learn now that was not known before
Up until a few weeks before FTX went bankrupt, many people, media outlets who should have known better were big fans of SBF. Have any of these media fanboys/fan girls of SBF apologized to the public or admitted how wrong they were ?
Took him three years to finish Calc2. Having Stanford profs as parents gets you into schools you'd never see even with money. He was a D1 ETF trader at Jane. Lowest form of life and you're out of that position in your second year, max.
How long is the line to get into the overflow room to view the trial? Is this like a Black Friday scenario? or a lottery that’s already been held at the beginning of the trial or how does it work?
it's not long at all these days. If you get there before 9 you might wait in line a bit but after that you can usually go straight in and get a seat. The only reason to get there early is to get a seat in the actual courtroom or to get one of the "good" seats in the overflow room (some seats have their own monitors, so its competitive to get those :))
I think this is more damaging than all previouas testimonies. When you have your legal counsel saying you asked him how to avoid your own rules, this is obvious fraud.
Nishad didn't know until September? Of course he knew! What extra evidence did he need, after witnessing all those expenditures and knowing the character and modus operandi of the other members of the inner circle?
Seems like a mix of a compulsive Gambling attic and a con man. All he needs is more money and the next score will pay back everybody and more. If he just keeps talking and doesn't let the other people catch on, you can talk his way out of anything. Or, talked his way into buying enough time for people to let them run or come up with a red herring. On the subject of Nishad: it was a lose-lose situation. He would feel bad either way but if he stays he gets two major benefits. The first is additional information to plea bargain with if things go sour. The second is that if Sam manages to pull through with the fraud somehow, on paper he is a billionaire with FTX equity. He stands to gain by staying no matter what his Fairweather conscience might have said. I'm inclined to believe he is honest in his guilt. It still doesn't make him less of a collaborator or a willing participant after the facts were revealed.
Well at least CZ didn't blow up his exchange by trading customer funds... not yet at least, I would be really surprised if Binance was a squeaky clean business
I can believe the reason why Nishad said he didn't go to the FBI, or whoever. Because he thought that if he stayed and didn't say anything then it would be the best for getting people their money back. Because if he did go to the FBI then I'm sure the public would of found out almost instantly, and then people and businesses would be pulling out their money, etc., and then FTX would of had zero chance in making things right. He did only find out about all the things sam was doing only a couple of months before FTX collapsed, and it does sound like he didn't have anything to do with all the crap sam was doing.
But when Nishad allows SBF and others to use his name, accounts to do all kinds of things, he basically asking for trouble. Never let other has controlled over your accounts and let people to use your name on things they won't put their own name on it.
You're wrong - Nishad is trying to re-write history about his involvement. If Nishad Singh is to be believed that he didn't learn about stealing from customers until September 2022, then why did Nishad go back into customers accounts in October 2022 & steal another $3.7 million to buy a house in Orcas Island, Washington with 10 acres?
@@Caleb_Mandrake872 I'm just saying that maybe what he was saying is true. I'm not saying for sure that he's telling the truth. Maybe he is lying about not knowing what sam was doing the whole time. Just because he bought a house with money loaned from ftx after he says he found out about what sam was doing, doesn't mean he knew before hand. Nishad definitely shouldn't of gotten a loan, as he calls it, after he said he found out. Nishad did a lot of stupid things. Like let sam use him to make political donations.
@@pyap9779 I agree. He definitely wasn't smart by letting people have access to his account, signing blank checks, and letting sam make political donations in his name. Nishad could be one of those book smart people, but not street smart. Maybe he's naive, or easily manipulated. I don't personally know him. As of right now I'm just giving him the benefit of the doubt. It doesn't mean I trust him, or that he shouldn't of been charged with anything and do some time. In the future, if it comes out that he was lying and did know about everything, then i'll change my mind.
@@user-tk5fi1my5i Nishad testified that in December 2021 is when he began altering spreadsheets to hide losses. Nishad also wrote the code so customers would not see the losses on the Dashboard. Nishad looked like his soul left him because he knew he was caught stealing. Nishad didn't learn only in September 2022. Nishad is trying to re-write history.
![YoungBoy Never Broke Again - Sneaking [Official Video]](http://i.ytimg.com/vi/1ILUps2zDFU/mqdefault.jpg)
The legal justification is because all our accounting was on quickbooks and nobody knew how to use quickbooks. So nobody knew where the money was.
QUICKBOOKS??? Lord have mercy.
Don’t forget about how FTX didn’t have an accounting department.
resulting ultimately in a grand defense of, "oops."
As a user of quick books, i am sure it is a sound programme but i very much doubt it is suitable for this type of an organisation.
Surely you would have bespoke software suitable to the industry, and for one with such a complex structure.
Shoot me down in flames if i am wrong, but i have worked in Re-insurance and all the companies had industry specific software tailored to their specific needs.
Modern society has become far too flippant which allows fraudsters like SBF to take advantage.
When i see him being interviewed i do not even see an intelligent person but a maths geek.
LOL
The reason for the media tour happening is that Sam was not afraid. He figured he had paid for enough protection on the political side. In his mind he was never going to jail.
Bernie Madoff had the same business model.
yeah I think this is right. it's just wild that there was that much delusion...
@@TheCPRshowI think the pay-off may have worked for some of them. Want to talk a bet on how long before Caroline Ellison gets a new name and witness protection instead of prison?
YOU ARE KILLING IT! Thank you for your great work!
@halcolombo6380simpin’ ain’t easy dawg!
Thanks so much!!!
I'm increasingly surprised SBF plead not guilty. Just the production of multiple false balance sheets alone shows consciousness of guilt and deliberate deception; that should be enough to put him away by itself. All the other stuff reinforces how consistent the effort to deceive was.
Also remember that email from SBF’s mother speculating on how to avoid illegal-looking transfers?
@@JR-yx3poMummy & Daddy are in this up to their necks!
I thought it was very interesting that his father apparently believed he should be paid 1mill a year for what...errr advising part time?!
However Caroline Ellison the full time CEO of Alameda had a salary of 200k....
His subordinates plead guilty for light sentences because they provided evidence and testimony against Sam. Sam on the other hand has no one higher up he can flip on. When your guilty the only hope you have is trying to get one juror to decide in your favor or get the case thrown out on a technicality.
😊
I think Sam really thinks that he didn't do anything wrong, and the stuff he did do was for the benefit of the world. Giving money to political campaigns, and to charities, etc. I think he also thought that if he did get busted that he's donated and given money to the right people that they'll be able to get him off the hook. Plus, I think that sam thinks he's smarter than pretty much everyone. He might be book smart, but he definitely isn't street smart at all.
I just discovered channel in my feed by accident last week and subscribed immediately. Such intelligence, energy, organization, wit, humor and also well edited. It's like music for my brain. Hopefully after the SBF trial, Carly can cover topics other than just Crypto /NFT's. Maybe a future podcast about other financial frauds or true crime cases? Whatever it is, we just need more!!
thank you so much!! I'm definitely interested in expanding my coverage after the trial!
Thank you so much for covering this. Many people are very interested in this. And you present it so well.
Face for TV Voice for radio Smart as a whip. Love your reporting.
She does any amazing job of explaining all of this, love the daily updates
thank you so much!!
I’m a trial lawyer and love watching your videos everyday. It’s great to hear the perspective of a non-lawyer living through a trial…especially on technical subjects. Keep up the great work!
This girl is genuine, original and authentic! There's something about her personality that makes, whatever topic or subject she will talk about, so much more interesting. This girl is going to be super famous and popular in the future. I actually feel lucky to be her 7.9k subscriber, who just discovered her a few days ago actually. Carly, keep doing what you're doing! We hope your happiness, joy, and passion continues to grow and succeed, doing whatever it is you love doing. Hey, no matter happens from here into the future, always remember to be yourself- and don't ever change for anyone else but only for yourself- Sincerely, your new social media fan and unconditional supporter!
This is too much praise. If you give someone this much praise, they start to believe that the sun shines out of their butt. This is not a good situation. We do not want her to turn into SBF. Am I wrong?
wow!! thank you so much! this is very kind
Anyone who asks their lawyer to find a legal basis to justify their bad behavior is almost certainly guilty. And any judge or normal person sitting on a jury is going to see that for exactly what it is. Turns out Sam is not a financial savant philanthropist. He's just a plain old crook - the same kind that tries to scam your grandparents on the phone. Just with bigger aspirations.
I agree. A con plain and simple.
You are amazing. Thank you for explaining and teaching with such a bright but fairly critical demeanor. Looking forward to more.
Thank you so much!!! Really appreciate you tuning in :)
So he probably got all the legal justification from his father and his mother told him the ethical justification but his parents are totally not involved in any way in this “ non profit” organization.
Really enjoy your coverage of this trail. Love the enthusiasm!
Wow this is crazy, thanks for breaking it down for us!
Thanks for sharing this court insider stuff. It is both fascinating and educational. Your passion is palpable. LIKE
I wonder what Joseph Bankman's reaction was in that meeting where Can discovered that they had been using customer funds? What he as shocked as Can was? Or did he know all along? Can't wait for the parents to be indicted and the dirt that's going to dig up.
Interesting. What surprises me most about all of this is how venture capitalists and finance RUclips channels (yes, FINANCE RUclips channels) couldn't tell this was a scam. I have only worked in finance briefly and it isn't my field at all, but even I could tell, when they're offering ridiculous rates of returns on investments (when savings accounts and bonds were barely paying over 0.5%), offering way more to RUclipsrs than they would normally receive from a video sponsor. You'd think that they would have done some due diligence, other than "Are you a scam?! "No" "Okay then!".
Honestly, a lot of those finance RUclipsrs shouldn't even be showing their face now after what they did, but apparently all is forgotten and forgiven. "How could we have known that yet another crpyto ponzi scheme was a scam?!". Yeah.
Most crypto enthusiasts do say "not your keys, not your coins". Also "Treat exchanges like public toilets, do your business, then leave". The whole point of cryptocurrency is to be in charge of your wealth. This leaves mainly speculators and people that shouldn't have been in crypto keeping their wealth on the exchange.
What surprises me is that you are surprised. Look at all the Crypto-"Investors" and CRYPTO RUclips channels (this being one of them) and only a very tiny fraction of them tells you that it’s a …
You YOUNG LADY are doing the Best Job ever, Did Sam's mom do something or something in the court room?
Captivating, entertaining, full of contagious enthusiasm. Brilliant analysis presented in perfect English without cliches or useless metaphors. Presents several intriguing analytical threads, while keeping the focus on the main narrative. And, an absence of the smirky schadenfreude that normally pervades topics like this one. Thank you so much for this series! In a word “WOW”!
Great work, Carly. Very detailed and much better than regular journalists. Keep it up.
You and Tiff are the best!!! I love your style of reporting!
Your coverage is so legit! actually quite addictive hearing about this trial from you 😁
thank you so much!!! I'm so glad you like it!
Wow! This is why I don't watch MSM anymore. Great detail, delivered coherently.
Could you report on things like Sam's demeanor in court, are his parents there everyday, if so how do they look, etc.?
Good Report!
--- Great title: "Hey Lawyer, tell me why my use of "Customer Funds" was LEGAL."
--- Interesting to hear that Sam DIDN'T KNOW about Alameda's "Special Privileges", that Sam was USING to get EXORBITANT "LOANS".
Thank you for your continued work on this project.
I very much appreciate that you refer to him, the defendant, by his full and legal name. Buy four going his self branded, media nickname, it shows you have a level of integrity, and dedication to reporting the facts of this case that many other reporters in your field do not. This is how you gain loyal followers, and you have another one in me. It is most appreciated.
Loving your coverage of the SBF trial... Entertaining and insightful! 👍
Love your daily update! By far the best one out there…. Keep up the great work!!
sbf probably doomed his defense by going on his “not my fault” tour 🤪
His lawyers must have been absolutely tearing their hair out with every word he said!
Excited for this!
Man, your coverage is so good and interesting. Thank you!
Excellent.. Here we go !!!
Great job as always. I love the details in your coverage. Its the best
thank you so much!
Amazing content you and Tiffany fong covering this trial. Thank you
Excellent reporting! Keep it up 👍
There's what we are looking for, His father Knew he was aware he was in the room, he was helping young Sammy STEAL customer funds, or at least the father knew things were SHADY.
He's a corrupt law professor wouldn't place a bet on him being aware of much ...😂😂😂
Don't forget his mother
Best legal case review without doubt. Faultless
Love this girl, keep up the great work 💕
thank you so much!
U have a bright future...
I would watch u for hours.
U communicate so well 🇰🇪👍.
Got out of crypto a day B4 the trial.
My account was consistently under attack.
Scary stuff . It's all a sophisticated Ponzi.
thanks Carly
another great job. fabulous energy!!
Sbf " are you going to chain my skeleton to the cell wall ? ". Federal prosecutor, "yep"
Btw, how are you only getting 637 likes for this upload. In many cases your content is better than the main stream media outlets. Why don't you have a million views???
Bank-Friedman becomes creepier each single day at court
So basically, FTX used customer funds to operate.
I always have to double check that I didn't accidentally increase the video playback speed when you're talking. But I'm not complaining, great training ;-)
Oh... now I tried to slow you down and that Theranos-Eli vibe is brutal...
I recall reading there’s a principle of “attorney-client privilege” in both civil, administrative and criminal proceedings. However, my understanding it is intended to allow an attorney to have frank discourse with their clients and thus provide effective representation; my understanding is that there are exceptions one of which involves fraudulent activities.
My experience (in regulation development for a Federal executive agency) is that attorneys generally only need advise their clients about the legal risks involved in a particular course of action . Sounds like the former GC of FTX did so and had no operational control over what was done perhaps against his advice. But testifying SBF was told there was no applicable legal theory to justify FTX actions provides grounds for a jury to conclude that SBF acted to knowingly & willingly broke the law.
You do such a great job with these presentations. Very naturally, informative, and funny
I just watched the congressional hearing on FTX that was done 10 months ago. One of the topics there was about violation of campaign finance laws, is the court case related to that congressional hearing?
Great presentation style - you deserve a much bigger audience !!
These breakdowns are awesome!!! I read Michael Lewis's book and adding your insight has been FANTASTIC!
14:02 - Nishad testified that in December 2021, that he began altering spreadsheets to hide losses.
Nishad looked like his soul left him because he knew he was caught.
Nishad didn't learn only in September 2022. Nishad is trying to re-write history.
Best episode so far. Loved it!
Amazing!
It is the potential customer's prerogative to insure that he or she is not duped into investing in financial products that are as traceable and valid as air bubbles- the latter can burst at any time and nothing may come of it. Investors being sold air bubbles as such, is nothing new, and continues to go on. FTX, lead by SBF, was called on the act of pilfering, otherwise the show would be going on- Know that, other firms play a variant of the game in question. You should not be taken with someone's alleged mental acuity if it leads to your financial ruin as it connotes of sociopathy.
#karlnespas
Great work, keep it up !
The TOS should have read 'no takesies backsies!! :p'
Your reviews are amazing
Thanks so much!!
When an idiot kid is the manager of a candy store, he just could not help himself with all the candies at the store with all his buddies watching and helping!
"Reliance on counsel" means anything is legal if you can find a lawyer (who might be working for you) to say it's OK. 😂
14:02 - Wrong!
If Nishad Singh is to be believed that he didn't learn about stealing from customers until September 2022, then why did Nishad go back into customers accounts in October 2022 & steal another $3.7 million to buy a house in Orcas Island, Washington with 10 acres?
I guess the difference is that fiat currencies would be deposited in a bank account, and the bank is allowed to lend the money out. People generally wouldn’t be too concerned about that. There are custodian banks that don’t lend the money out, but that is a lot more expensive.
Terms of service;
Not your keys
Not your coins
Ok this sums it up 👏 great job
Keep killin it
And why isn't Barbara and sleezy Joe Bankmen already indicted?
And the mystery of the year
Sam Trabucco?????
Once they realised the ship was sinking all the insiders probably sneeked the odd million out.
Excellent low down. Richard Hart (Hex founder) looks like he is gearing up for a court case. he is tweeting lots of legal jargon. Big following and a eccentric character. Maybe next up?
I like your analysis.I think you got a new subscriber 🎉
Where are you getting these documents?
Don’t you think Can Sung should have been arrested, without immunity?
Defense will call surprise witness Sam Trabucco who will take full blame and SBF will go free!
Very good work, Carly!
why weren't the witnesses like nishad singh, caroline ellison, etc in the current court case not present during the congressional hearing that was done 10 months ago? can you do a comparison of the investigation before and the investigation now? like what did we learn now that was not known before
I was wondering why the discussion with the general counsel is not shielded by atty client privilege
Do you have a video telling us who you are and why you're so good at what you do?
Why is the court taking a week off?
Oooooh. Okay - Yes, I like it. Understated, yet elegant. Definitely an improvement.
Haven't seen SBF in his new short haircut yet, can't anyone snap a pic of him coming or going from the court?
Since he comes from the jail he uses tunnels...that's what I heard
Up until a few weeks before FTX went bankrupt, many people, media outlets who should have known better were big fans of SBF. Have any of these media fanboys/fan girls of SBF apologized to the public or admitted how wrong they were ?
This witness is also one of the best so far..omg
Whenever I hear Sam say "at arms length" I imagine him as a T-rex.
Sam Wanted "Legal Justifications" for Taking Customer Money - AGREED !
Seems like Sam has all the signs of a narcissist?
Took him three years to finish Calc2. Having Stanford profs as parents gets you into schools you'd never see even with money. He was a D1 ETF trader at Jane. Lowest form of life and you're out of that position in your second year, max.
How long is the line to get into the overflow room to view the trial?
Is this like a Black Friday scenario? or a lottery that’s already been held at the beginning of the trial or how does it work?
it's not long at all these days. If you get there before 9 you might wait in line a bit but after that you can usually go straight in and get a seat. The only reason to get there early is to get a seat in the actual courtroom or to get one of the "good" seats in the overflow room (some seats have their own monitors, so its competitive to get those :))
I think Sam is going to prison for many years. He screwed up bad.
Isn’t there attorney client privilege?
SBF made pricing air bubbles into in artform- look at him now; their savvy darling is behind bars.
#karlnespas
Wording likely changed after the Tera Luna collapse in May 2022 , trying to slow the withdrawals.
I think this is more damaging than all previouas testimonies. When you have your legal counsel saying you asked him how to avoid your own rules, this is obvious fraud.
Nishad didn't know until September? Of course he knew! What extra evidence did he need, after witnessing all those expenditures and knowing the character and modus operandi of the other members of the inner circle?
Oh!! So early!!! Yaaaay 🎉
“They had this insurance fund”. Was it a self-funded insurance fund?
That was the random number generator we found out about on code review day.
Seems like a mix of a compulsive Gambling attic and a con man. All he needs is more money and the next score will pay back everybody and more. If he just keeps talking and doesn't let the other people catch on, you can talk his way out of anything. Or, talked his way into buying enough time for people to let them run or come up with a red herring. On the subject of Nishad: it was a lose-lose situation. He would feel bad either way but if he stays he gets two major benefits. The first is additional information to plea bargain with if things go sour. The second is that if Sam manages to pull through with the fraud somehow, on paper he is a billionaire with FTX equity. He stands to gain by staying no matter what his Fairweather conscience might have said. I'm inclined to believe he is honest in his guilt. It still doesn't make him less of a collaborator or a willing participant after the facts were revealed.
Well at least CZ didn't blow up his exchange by trading customer funds... not yet at least, I would be really surprised if Binance was a squeaky clean business
SBF. I think he's going down
But I think he’ll be pardoned, and then get an amazing gig on network news! Presidents love to pardon their huge supporters/contributors!
I can believe the reason why Nishad said he didn't go to the FBI, or whoever. Because he thought that if he stayed and didn't say anything then it would be the best for getting people their money back. Because if he did go to the FBI then I'm sure the public would of found out almost instantly, and then people and businesses would be pulling out their money, etc., and then FTX would of had zero chance in making things right. He did only find out about all the things sam was doing only a couple of months before FTX collapsed, and it does sound like he didn't have anything to do with all the crap sam was doing.
But when Nishad allows SBF and others to use his name, accounts to do all kinds of things, he basically asking for trouble. Never let other has controlled over your accounts and let people to use your name on things they won't put their own name on it.
You're wrong - Nishad is trying to re-write history about his involvement.
If Nishad Singh is to be believed that he didn't learn about stealing from customers until September 2022, then why did Nishad go back into customers accounts in October 2022 & steal another $3.7 million to buy a house in Orcas Island, Washington with 10 acres?
@@Caleb_Mandrake872 I'm just saying that maybe what he was saying is true. I'm not saying for sure that he's telling the truth. Maybe he is lying about not knowing what sam was doing the whole time. Just because he bought a house with money loaned from ftx after he says he found out about what sam was doing, doesn't mean he knew before hand. Nishad definitely shouldn't of gotten a loan, as he calls it, after he said he found out. Nishad did a lot of stupid things. Like let sam use him to make political donations.
@@pyap9779 I agree. He definitely wasn't smart by letting people have access to his account, signing blank checks, and letting sam make political donations in his name. Nishad could be one of those book smart people, but not street smart. Maybe he's naive, or easily manipulated. I don't personally know him. As of right now I'm just giving him the benefit of the doubt. It doesn't mean I trust him, or that he shouldn't of been charged with anything and do some time. In the future, if it comes out that he was lying and did know about everything, then i'll change my mind.
@@user-tk5fi1my5i Nishad testified that in December 2021 is when he began altering spreadsheets to hide losses.
Nishad also wrote the code so customers would not see the losses on the Dashboard.
Nishad looked like his soul left him because he knew he was caught stealing.
Nishad didn't learn only in September 2022. Nishad is trying to re-write history.