They levered into wrong-way bets into the crypto winter while stealing the money for yachts and effective-altruism philanthropy and political donations. This wasn’t a Madoff-type leak and confession. Their risk setting didn’t permit a world in which they didn’t blow up.
I'd argue the money spent for yachts and donations were a drop in the ocean compared to what they burned via Alameda and lack of whatsoever accounting.
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If only Sam wasn't caught, then he'd have more than enough to refill what he stole, ironic.
They levered into wrong-way bets into the crypto winter while stealing the money for yachts and effective-altruism philanthropy and political donations. This wasn’t a Madoff-type leak and confession. Their risk setting didn’t permit a world in which they didn’t blow up.
I'd argue the money spent for yachts and donations were a drop in the ocean compared to what they burned via Alameda and lack of whatsoever accounting.
Nah, he would've spent more and more and more.
Whether that would constitute restitution or furtherance of a Ponzi scheme is open for debate, I guess...