Sam Bankman-Fraud?

You'd think there would be enough controls in place to not allow a couple hundred million to go missing, even if there was a "hack" on one employee's computer.

Sam Bankrupt-Fraud

/s

cool it with the antisemitic remarks

It has been widely recognized by nearly every technical person that understands blockchain that basically all crypto work going on in the last few years is a scam. Absolutely none of the purported benefits of crypto have come to be realized, and all the criticism and concerns have. In the early crypto era there was a lot of optimism, but I don't know anyone who seriously understands the area (including most of the biggest early enthusiasts) who hasn't been screaming that the entire space is a scam for years now.

So the revelation that SBF and FTX where engaged in fraud is only slightly interesting, since it was obviously that some degree of fraud had to be happening since the entire space is a scam.

I find it slightly confusing that the entire space hasn't completely collapse by now. But it's only a matter of time until it's announced that Crypto.com is engaged in some kind of fraud, that binance is engaged in fraud, and eventually that Coinbase is engaging in some type of fraud. It's not possible that this is not happening since the underlying product that all of these companies are focused on is fundamentally a ponzi scheme and this has been widely understood for many years now.