4 ms·

SBF was a very positive force for EA, now that he's down everyone piles on him? shameless

adam_arthur 4y ago
Well, he apparently hoodwinked his customers by abusing and losing their deposits. I don't think people who made billions by scamming well meaning customers should be held in high regard. In fact, I wouldn't be surprised if he ends up in prison
- jboy55 4y ago
  Madoff was also a great patron and philanthropist. Al Capone was known to help Chicago's poor and hungry.
  - djbusby 4y ago
    Selling crypto is less legit than black-market booze.
7e 4y ago
I believe it's the common folk who had money with FTX who are down. All the way to zero. One wonders if EA is could be considered a guilt-compensation mechanism.
- colinmhayes 4y ago
  Ea probably isn’t super worried about crypto gamblers tbh.
returnInfinity 4y ago
What was SBF upto? Regulatory capture? this is going to make nice Netflix drama. Probably played high stakes poker and lost.
- AccountAccount1 4y ago
  it's not over yet
AccountAccount1 4y ago
To clarify the comment (and this being contingent on every user of FTX getting his money back which it appears it's going to be so) SBF was playing 5 billion dollar hands of poker because he was winning with lower dollar value hands than that, problem is that he kept raising the stakes until he went bust. I doubt any exchange/bank could save themselves by facing the extremely bulky and fast withdrawals in the span of hours that FTX was facing; the only play there was to save face while avoiding locking withdrawals as much as possible e.g. the binance play (obviously horrid but it did buy some time.) Besides that, the net worth of SBF and Alameda being denominated in FTT and using customer funds (unproven as of now) to make more gambles is obviously terrible, and here everyone is to free to shit on him all they want, but the point is, the EA community shitting on him? Having Sam donated more than a hundred milli to various orgs? mind you that he still is a good poker player, likely to come back, and cover all users funds.
AccountAccount1 4y ago
5 days later: I was tragically wrong...sorry for the comment.
- AccountAccount1 4y ago
  10 days later: "Tragically wrong" is an understatement; monstrously wrong may do it justice...

Well, he apparently hoodwinked his customers by abusing and losing their deposits. I don't think people who made billions by scamming well meaning customers should be held in high regard. In fact, I wouldn't be surprised if he ends up in prison

jboy55 4y ago
Madoff was also a great patron and philanthropist. Al Capone was known to help Chicago's poor and hungry.
- djbusby 4y ago
  Selling crypto is less legit than black-market booze.

7e 4y ago

I believe it's the common folk who had money with FTX who are down. All the way to zero. One wonders if EA is could be considered a guilt-compensation mechanism.

colinmhayes 4y ago
Ea probably isn’t super worried about crypto gamblers tbh.

returnInfinity 4y ago

What was SBF upto? Regulatory capture? this is going to make nice Netflix drama. Probably played high stakes poker and lost.

AccountAccount1 4y ago
it's not over yet

AccountAccount1 4y ago

To clarify the comment (and this being contingent on every user of FTX getting his money back which it appears it's going to be so) SBF was playing 5 billion dollar hands of poker because he was winning with lower dollar value hands than that, problem is that he kept raising the stakes until he went bust. I doubt any exchange/bank could save themselves by facing the extremely bulky and fast withdrawals in the span of hours that FTX was facing; the only play there was to save face while avoiding locking withdrawals as much as possible e.g. the binance play (obviously horrid but it did buy some time.) Besides that, the net worth of SBF and Alameda being denominated in FTT and using customer funds (unproven as of now) to make more gambles is obviously terrible, and here everyone is to free to shit on him all they want, but the point is, the EA community shitting on him? Having Sam donated more than a hundred milli to various orgs? mind you that he still is a good poker player, likely to come back, and cover all users funds.

AccountAccount1 4y ago

5 days later: I was tragically wrong...sorry for the comment.

AccountAccount1 4y ago
10 days later: "Tragically wrong" is an understatement; monstrously wrong may do it justice...