SBF the largest loser of all times ?

Discussion in 'Crypto Assets' started by TrAndy2022, Nov 14, 2022.

  1. always love to see how Wiki is the definitive source. surely your "anecdote" (to type the way Dawny does) isn't actually real!

    bet that story is wild. a billion in a day. what a ride.
     
    #21     Nov 15, 2022
  2. newwurldmn

    newwurldmn

    I will tell you the story over PM in broad strokes.
     
    #22     Nov 15, 2022
    lucysparabola likes this.
  3. Ed48

    Ed48

    No, I think you'll find you're wrong. All the motors are brushless AC induction, and I'm pretty sure most, if not all, are 415V 3-phase. There's an inverter which converts battery DC to AC.

    DC motors would never cut it for the horsepower requirements of a modern EV. They also need to be high voltage AC (415V) to use smaller gauge copper wire in the motor core windings. At lower voltages, you'd need very heavy gauge wire to carry the hundreds of kW, which would make it impractical.
     
    Last edited: Nov 15, 2022
    #23     Nov 15, 2022
  4. gwb-trading

    gwb-trading

    Experts Say Sam Bankman-Fried's Best Legal Defense Is to Say He's Just Really, Really Stupid
    "Mismanaging your company and losing a bunch of other people’s money is not criminal."
    https://futurism.com/the-byte/sbf-ftx-legal-defense-ignorance

    As the the FTX implosion continues, the company's figurehead and just-resigned CEO, Sam Bankman-Fried, may end up facing significant legal peril.

    If he does, experts say he may end up employing an interesting defense: that his actions weren't criminal — and instead, he was just a staggeringly entitled and incompetent moron.

    "Mismanaging your company and losing a bunch of other people’s money is not criminal," Randall Eliason, an ex-prosecutor who now teaches law at DC's George Washington University, told Fortune. "It happens all the time. For a criminal case, there has to be deception."

    In order for Bankman-Fried — who achieved a level of notoriety that he's probably better known by his initials, SBF — to be successfully prosecuted in a criminal court, lawyers for the government or FTX's customers and investors will have to establish that he actually intended to commit a crime, rather than just being terrible at handling billions in crypto.

    Eliason told the magazine that prosecutors would something big to establish that SBF and FTX intended to deceive customers and the government — a smoking gun, or an outline of past behavior that establishes a history of fraudulent intent.

    Another crypto lawyer who spoke to Fortune on condition of anonymity said that they don't doubt that Justice Department prosecutors will be able to establish such a history, particularly if they bring a case under Section 1343, a federal criminal law that technically covers wire fraud but could be applied to electronically-aided fraud charges as well.

    As Fortune notes, prosecution under Section 1343 carries a maximum 20-year prison sentence — which, while not the stiffest penalty, could put the 30-year-old crypto CEO away for a significant period.

    This story is continuing to unfold rapidly before our eyes, but as it stands now, neither SBF nor any of his alleged polycule members and/or fellow executives at FTX have been charged with any crime.

    If they are, however, prosecutors may have a hard job proving that they weren't just millennials who suck at money and business management.
     
    #24     Nov 15, 2022
    TrAndy2022 likes this.
  5. gwb-trading

    gwb-trading

    #25     Nov 15, 2022
  6. gwb-trading

    gwb-trading

    #26     Nov 22, 2022
  7. johnarb

    johnarb

     
    #27     Nov 22, 2022
  8. ph1l

    ph1l

    Fraudin' away again in Margaritaville
    Searchin' for my lost crystals of meth
    Some people say a sultry wood nymph's to blame
    But I know, it's my own damn fault
    https://www.dailymail.co.uk/news/ar...owes-55-000-Jimmy-Buffets-Margaritaville.html
     
    #28     Dec 3, 2022
    Pekelo likes this.
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    #29     Dec 3, 2022
  10. easymon1

    easymon1

    The entire crew and associated "affiliates" will all be fine.

     
    #30     Dec 3, 2022