sbf

The story of Sam Bankman-Fried (SBF) reads like a modern-day tragedy—a 30-year-old crypto prodigy who went from $26 billion net worth to a federal prison sentence in just 18 months. How did the founder of FTX, once hailed as the "King of Crypto," end up behind bars? Let’s break it down.
The Rise: How SBF Became a Billionaire
Bankman-Fried wasn’t just another crypto bro. He was a MIT grad, Jane Street Capital trader, and the brains behind:
✅ Alameda Research – A quant trading firm that minted millions.
✅ FTX – The world’s 2nd-largest crypto exchange (before the crash).
✅ "Effective Altruism" – His philosophy of making billions to "give it all away."
At his peak, SBF was worth $26B, dated a supermodel, and rubbed shoulders with politicians. Then—it all collapsed.
The Fall: Lies, Leaks, and Billions Gone
In November 2022, a CoinDesk report exposed that Alameda was secretly borrowing $10B+ from FTX customers to make risky bets. When users tried withdrawing, FTX ran out of money.
🔍 What Went Wrong?
Customer funds were gambled away (Alameda lost billions on bad trades).FTX’s books were fake—no real accounting.SBF lied to investors, including Sequoia Capital and Tom Brady.
The exchange imploded overnight, wiping out millions of users’ savings.
The Trial: "I Didn’t Steal. I Was Just Bad at Risk Management."
SBF’s defense? "I messed up, but I didn’t mean to commit fraud." The jury wasn’t buying it.
📌 Key Trial Moments:
Caroline Ellison (his ex-girlfriend & Alameda CEO) testified against him, revealing he ordered fake balance sheets.FTX’s $8B shortfall proved customer money was stolen.SBF’s own tweets & DMs sank him—he admitted to "loaning" funds to Alameda.
In November 2023, he was convicted on 7 counts of fraud & money laundering.
The Sentence: 25 Years in Prison
On March 28, 2024, SBF was sentenced to 25 years—one of the harshest white-collar punishments ever.
🔒 Where Is He Now?
Locked up at MDC Brooklyn (a medium-security prison).$11B forfeiture—his remaining assets go to FTX victims.Appeal pending, but chances are slim.
The Aftermath: Lessons from the FTX Crash
1️⃣ "Don’t Trust, Verify" – Crypto exchanges must prove reserves.
2️⃣ Celebrity endorsements mean nothing (Larry David, Steph Curry, and Gisele promoted FTX).
3️⃣ Greed kills empires—SBF’s hunger for more destroyed his legacy.

#SECGuidance #SBF #BTCRebound

(Brother Nan’s benefit: If you like or comment at the end of the article, you will receive Dogecoins from Brother Nan) How long does it take to turn a billionaire into a billionaire? A "shattering battle" in the currency circle in November 2022 made Brother Nan know the answer to this question. . . That’s probably just “a tweet’s worth of time.” Moreover, this war also caused big losses to Sequoia Capital, SoftBank, Temasek, Ontario Teachers’ Pension Fund and other big names. Many family members have heard that this man is our afro-----SBF!!! This man has been in prison since last year and doesn't speak much, and has confessed very few things. But Brother Afro is ready to defend himself in the latest trial. Can FTX be saved? ? Let Brother Nan take all the family members to review the incident and explain the main reason for the FTX thunderstorm. #sbf Look carefully, the guy with the afro in the picture is the protagonist of this big earthquake. He is Sam Bankman-Fried, the founder of the well-known cryptocurrency exchange FTX and the hedge fund Alameda. (Remember the name of this fund, it is also the main culprit of FTX’s thunder.) In the circle, everyone is accustomed to calling him SBF for short. To put it simply, this guy is a traditional financial trader. After discovering the surge in BTC, he founded the cryptocurrency trading platform FTX. Later, FTX obtained financing step by step and occupied the market step by step, and soon reached the third or fourth position in the industry. FTX was valued at around US$32 billion at the time. You may not know what this concept is. Let’s put it this way, Baidu’s market value is just over US$30 billion. SBF also ranks among the top 500 richest people in the world with a net worth of more than 15 billion US dollars. He has many nicknames, because during the LUNA currency crash incident, he saved many companies that were about to go bankrupt by throwing money, so some people called him the "Mom of the Currency Circle". Because he is a trader, some people compare him to the "next Buffett". Anyway, his iconic afro often appears on the covers of various magazines and newspapers. After this guy got rich, he started to like being famous, which also paved the way for subsequent events!! This guy is still immersed in the enjoyment of getting rich suddenly, but he never dreamed that in just a few days, the "coin industry giant" FTX he founded would directly run aground. His tens of billions of net worth, just like his hairstyle, exploded and evaporated in an instant. Everything actually originated from a report by the currency circle media CoinDesk. The report found that another company called Alameda established by SBF was mainly engaged in high-risk and highly leveraged investments, but 88% of the main assets recorded on its account were FTT tokens issued by its own exchange FTX. In total, 70% of FTTs on the market are in the hands of Alameda. As soon as the news came out, people in the currency circle quickly began to worry. A "not necessarily correct" conjecture spread: (The core of the thunderstorm!!!) Alameda and FTX are both companies of SBF, so SBF can use the left hand to the right hand, allowing Alameda to obtain a large amount of FTX at a low price Issued by FTT. Then Alameda raises the currency price by raising FTT, and can use FTT as collateral at a high price to borrow money from FTX. . . Alameda then used the borrowed money to make high-risk, high-leverage investments. In essence, the FTX exchange is just Alameda’s blood transfusion bag. Among them, Alameda’s investment has made profits along the way. If the price of FTT as collateral tends to stabilize, this “left hand over right hand” model can actually be maintained. However, if there is a huge investment loss or the price of the collateral FTT plummets, then there is a possibility that FTT will be sold off and liquidated in large quantities. At this time, the price of FTT will be depressed again, triggering a larger-scale liquidation, thus forming a "death spiral." Everyone who had just been frightened by LUNA began to feel uneasy. At this critical node, the most influential person in this circle stood up and spoke. The eldest brother Zhao Changpeng tweeted that he would sell FTT. Worry about the death spiral! ! "Even the world's largest exchange was afraid, and felt that FTX and Alameda were definitely at risk." As a result, the panic began to gradually intensify, and everyone followed suit to sell FTT, and the price of FTT fell all the way.Key point: A full-name run caused the financial model of FTT to collapse and fall into a death spiral. FTX started a thunderstorm! ! The collateral FTT was worthless, and soon people began to worry that Alameda would not be able to repay the money it borrowed from FTX. . . Therefore, users began to withdraw cash from the FTX exchange frantically again, fearing that they would be taken advantage of if they were too slow. After all, no one knows whether FTX misappropriated user deposits and lent them to Alameda. In the end, it turned out that everyone’s guess was right. Those who were slow to withdraw money at that time probably could no longer withdraw their money. ,Brother, why don’t you run? Why has he been tried in prison for a year after being arrested and still not sentenced? Why can we still make a comeback? First look at who I have cut, and you will know why I can't run away. Sequoia Capital, Ontario Teachers' Pension Fund, SoftBank, BlackRock, Tiger Management, etc. It can be said that FTX has single-handedly defeated dozens of star institutions. Can these international giants allow me to run away? ? ? Sit back and wait for the arrangements. Then why didn't he speak in prison, didn't provide a lot of information, and only now do he start to defend himself. This is also my brother's strategy. When the incident first came out, there was a lot of uproar. Many of them not only accused SBF of fraud. There are also crimes of aiding the Russia-Ukraine war, money laundering, asset outflow, etc. Once these last two items are settled, I won’t be able to get out in this life. Brother SBF's strategy is to wait for things to heat up. Recently, the Bitcoin ETF is about to be approved, which has led to more and more people supporting SBF. Brother SBF is ready to start a comeback and defend himself, so that all family members will follow Brother Nan to pay attention. Can SBF Afro succeed? Red envelope collection password: ethup666

Do you still remember the article I posted two days ago? I mentioned that Binance has been posting pictures of birds recently. It’s very interesting that Musk has begun to frequently output pictures of birds in the past few days, and even the official Bitcoin Twitter Everyone is posting, why? Doesn’t Musk love dogs? In fact, Musk’s call of dog is a bit metaphysical and has a trend of Universiade. Because the new Universiade is coming soon, it can also be said that it has already started. Nine Purple Li, Fire, Three Yuan, Nine Yuan, Sixty Years are one Yuan, Two Yuan. The ten years are: one white (Kanshui), two black (Kun earth), three green (Zhenmu), four green (Xunmu), five yellow (Middle earth), six white (dry gold), seven red (Duijin), and eight white (Gen earth). The last great fortune of Jiu Zi (Li Huo) was Babai (Gen Earth). If you look at the popularity of the real estate and coal industry from 2003 to 2023, and look at Dogecoin, which is popular in the currency circle, the dog is actually the animal that represents Gen Earth luck. Because The earthly branch of the Gen hexagram is Yin wood, and the Yin wood belongs to the tiger and also represents a cat. Therefore, it is very popular to keep cats and dogs as pets in the Gen earth fortune of the past 20 years. So in this bull market in the currency circle, Dogecoin, Shiba Inu, and the King of Dogs are all out of the circle. Then from 2024 to 2044, the new Universiade will begin. Nine purples are away from fire and the Universiade. Nine purples are the lucky colors, purple, red, and the five elements of fire are strong. The industry , Electricity, Energy, Petroleum, Mobile Internet 5G, Electronics, Space Exploration, Plastic Surgery, Makeup, Mental Health, Lihuo represents middle-aged women, the second oldest girl in the family, the big time has come. The animal represented by Lihuo is the Suzaku, and the prototype of the Suzaku It's a pheasant and a bird. The bird can also be called the phoenix, and the phoenix can turn into a phoenix. Only the fire of desire can lead to rebirth, and the phoenix can achieve nirvana. In addition: the fire phoenix also belongs to fire, which is completely a great luck. ​MEME culture is all about entertainment and fun animals. Dogecoin runs on the ground, frogs swim on the phone, and now there are birds flying in the sky. Now it is the beginning of the Nine Purple Fire Universiade. Binance frequently tweets about birds. This is because among so many public chains, Binance Chain is the only one that has not seen a real MEME coin come out of the circle. Binance also wants to seize this wave of popularity to bring fire to Binance Chain, so Musk’s frequent tweets also know this circle. New story themes are needed to ignite the market. The so-called playing with the new rather than playing with the old, the most important thing is that the fortune has changed. So how can we retail investors keep up with hot trends?Then when choosing MEME currency, there must be no project party, the contract is clean, all permissions are discarded, the community is autonomous, the holders are the masters, it is fair, just and open, and everyone is equal. Binance should also have been observing the market research community. In the past six months, I have also observed a phoenix community on Binance Chain, BIBI. The consensus, tolerance, and action of this community are unmatched by me in this circle for several years. Everyone who has been there can generate electricity for love without forgetting the original intention, building a community in happiness, finding happiness in building a community, and bibi is also a bird that has followed the trend of Jiuzili fire luck. Isn’t this what Binance needs? Then choose the BIBI community and take a look at the reasons for BIBI currency: 1. The unowned currency is clean and transparent, the contract is clean, and all permissions are discarded, truly embodying the spirit of Web3 community promotion, 2. AI assists in creating a classic example of Web3 AI integration, 3. The birth of Drama Unreplicable Born in the spotlight with more than 10,000 coins held in 24 hours, Sun Yuchen bought BIBI the next day and went to P online. The topic reached 4 There are many talented people on the road, and the community's spontaneous organizations are operating in an orderly manner. The AI ​​drawing group, BIBI self-media, and various technical experts have volunteered to make DAPPs, etc. The builders love BIBI from the bottom of their hearts. 5. The strong consensus of the founder-less chassis has been washed away. Times, experienced many tests, the chassis is stable 6, the maximum increase of the thousand-fold currency potential is less than 10 times, and now it is the lowest point. If there is capital help in the later period, the hundred-fold space is very easy, the bull market has the thousand-fold potential 7, and the great fortune is coming. There is God's will in this. Binance Musk keeps hinting about birds. The most coincidental thing is that Binance's mascot is also called bibi. There is nothing more coincidental than this. All successful coins have currency prices generated by consensus, and the basis of consensus lies in the community. The bibi community has the most basic consensus model and is also the most successful community in the past 23 years. So you need to know how much the bibi you are holding is worth? Bennu, the bird of fire in ancient Egypt, represents the power of creation and rejuvenation as the first creature after the creation of the world. Phoenix, the American city of Sedona, is the most famous spiritual destination in the world. Binance issued a bird, Phoenix, which has its own destiny. , so keeping up with the trend of Universiade, this bull market will be led by Binance #Meme #etf #gbtc #fomo #sbf $DOGE $PEPE $SHIB