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Comment by datalopers | Hacker News Reader

SBF is no longer a member of the three-comma club. I can finally rest.

Please don't post like this to HN. You may not owe billionaires or former billionaires better, but you owe this community better if you're participating in it.

https://news.ycombinator.com/newsguidelines.html

Assuming 6% returns on his remaining $900 million invested in index funds, he’d be a billionaire again in two years doing nothing.

Not as fun admittedly as gambling, but commas are commas. Wealth is sticky is this comment’s thesis.

Not if the DoJ makes him forfeit his money for fraud:

https://www.bloomberg.com/news/articles/2022-11-09/us-probes...

My suggestion is for Mr. SBF to check out /r/fatFIRE to get some tips from people who are in the know.

Appropriately enough, the one investing path that community will not recommend is crypto

Nobody I know is assuming 6% returns over the next two years! Hope I'm wrong.

6% is easy when treasuries yield 4.5. Nominally that’s 0 with inflation

I am very interested where I can get investment return 6%. The best I can see is CD from Schwab at 4.85%

https://www.schwab.com/cd-rates-test

Probably short term high yield bonds. You’ll need to assume more risk to get that extra 1-2%. CD and treasury is 0 risk so if you want more that you need to assume risk premium.

Where can I get these bonds?

series I bonds yield almost 7%. Used to be above 9.5%.

That's limited to $10k per SSN per year. That's not viable for any material investment.

It's invested in Robinhood lmao. Check out their 1 year

He bought after HOOD crashed, though. AFAICT, his stake is still green.[1]

[1]: https://www.cnbc.com/2022/05/13/robinhood-shares-jump-after-...

You don't think he sold his shares in some of the investment rounds? Adam Neumann of WeWork is still billionaire even though WeWork went bust. These scams won't stop till someone is prosecuted. SBF stated that VTX didn't trade customer assets and that VTX was just a custodian, he committed textbook wire fraud.

Dos commas, Richard

Maybe he cashed out a lot before this?

he definetly did, where do you think the insolvency comes from ?

A lot of people lost a whole lot of money.

Where do you think it went?

Same place a number goes when you press backspace in your editor.

There was no real money to begin with. If I create 1,000 tokens out of thin air and sell one to a friend for $1,000, I don't suddenly have $999,000 in net worth despite what crypto people try to claim.

It went to the exchanges.

They pumped the coins on the way up - Google willybot - which sucked retail money in. The smart exchange fraudsters cashed out on the way up. The uber-greedy exchange fraudsters held on thinking they could get more $$ if the price goes up, only to see that the price didn't go up, causing balance sheet holes which result in their demise a la ftx

From what I read, CZ liquidated his holdings of FTX's primary currency, which crashed its value. If that's the case, the "value" was due to scarcity. This "money" isn't gold-backed; it didn't "go" anywhere. It was a balloon. It deflated.

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