SBF Admits Fraud In Interview w/ Coffeezilla

It took him 3 tries to pin down the weasel. However in this 3rd interview he finally gets SBF to admit that all user funds were held in the same general bank account and even though some folks had margin or staking accounts which carried a higher risk and different ToS agreements than those who just wanted to hold their crypto in an FTX account which was supposed to never be loaned out per their ToS...it was. So when the collapse happened golks with funds in much riskier accounts were able to withdraw from the same pool of money as those whos funds should have been secure. This is outright fraud and hopefully he is finally prosecuted.

a reply to: RickyD

Ahh, the dreaded "comingling of funds" - the 'go to' tactic of someone trying to "get away with something" - often lawyers.

I'm sure they had a different way characterizing it... sort of like Twitters' "It's not a 'shadow ban ' it's visibility filtering."

My, how they squirm and flail sometimes...

a reply to: Maxmars

Except in this case the ToS very specifically says they wouldn't do that. Also the fact he mentions writing code to create a whole new withdrawal system while they were collapsing just confirms the fact they never did follow their own ToS in the first place...like ever. This as I understand it is fraud and criminal and as CEO he would be liable.

a reply to: RickyD

Got 'em!

Watched the video last night, and what sticks out the most is that it took a guy off of youtube to corner this guy and get him to admit fraud despite the fact that he had a great deal of less access to SBF than several others from the MSM who couldn't "manage" to pin him down. Don't get me wrong Cofeezilla is great and there is a reason that the only way SBF would even talk to him was ambush questions from different Q and A calls where he didn't know he would be speaking to him. I bet he wishes he didn't do any Q and A at all, but he was more than comfortable sitting down with George Stephanopoulos for 2 hours.

originally posted by: RickyD
... This is outright fraud and hopefully he is finally prosecuted.

Yeah, well, you won't find me holding my breath.

From what I hear Auntie Maxine - House Financial Services Chair - doesn’t plan to subpoena the fried bankman to testify at their hearings on the FTX collapse, as per CNBC.

It's a big club ...

originally posted by: keenmachine
Watched the video last night, and what sticks out the most is that it took a guy off of youtube to corner this guy and get him to admit fraud despite the fact that he had a great deal of less access to SBF than several others from the MSM who couldn't "manage" to pin him down. Don't get me wrong Cofeezilla is great and there is a reason that the only way SBF would even talk to him was ambush questions from different Q and A calls where he didn't know he would be speaking to him. I bet he wishes he didn't do any Q and A at all, but he was more than comfortable sitting down with George Stephanopoulos for 2 hours.

Coffeezilla pinned FTX as a fraud like six months ago. The problem is most journalist are not well versed or educated in many topics, especially something esoteric like finance / crypto so they don't know what questions to ask and how to filter through the BS.

SBF uses a lot of jargon and long-winded answers when answering questions to throw off the interviewer. Coffeezilla pointed this out as well.

a reply to: Edumakated

Yea the explaination before he shows the interview really helps put it in perspective. I have been following coffee for quite a while now and he is getting really good at tracking all this stuff down and proving it. This has to be by far this highest profile target though.

a reply to: incoserv

Sad...but I think at some point it would fall to the DOJ not the house. Guess time will tell...there were a lot of "in the club" folks who lost money here though.

originally posted by: RickyD
a reply to: incoserv


Sad...but I think at some point it would fall to the DOJ not the house. Guess time will tell...there were a lot of "in the club" folks who lost money here though.

i think they are working up
money laundering charges too.

a reply to: sarahvital

With the lack of kept records it might be hard to prove...but this is directly admitted fraud by the CEO. That should be more than enough to get the ball rolling. I think there was probably a lot of shady stuff going on there but these fools really come off as useful idiots for someone or someones who are probably a lot smarter than those rejects. All SBF seems to have going for him is being slippery...slimey is more accurate but slippery none the less.